Most small business owners have an accountant and no bookkeeper. The accountant gets called in March, a year of bank statements changes hands, and the bill is whatever it turns out to be.

Bookkeeping is how a business keeps track of its money. Every dollar in or out gets recorded and filed under a category. Then the totals get checked against the bank. The result is a set of records that you or an accountant or the IRS can follow without guessing.