Bookkeepers Aberdeen Scotland (AB10): To comply with the 2006 Companies Act, if you operate an online store, own a small business or are a sole trader in Aberdeen, you're entirely responsible for keeping "true and fair", accurate financial and accounting records for a minimum of 6 years. You could face disqualification as a Company Director and receive thousands of pounds in fines, if you cannot produce such records. Accounting Today magazine reports that over forty percent of small businesses spend 80 plus hours annually doing their bookkeeping tasks, so although you can perform these financial records on your own behalf, it can pay to use a professional accountant or bookkeeper to do them instead.
If you're filled with panic simply thinking about the possiblility of tracking liabilities and assets, compiling balance sheets, filling out ledgers or preparing profit, loss and financial statements, then the time to get in touch with a bookkeeper in Aberdeen for guidance and advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
"Exactly what is the distinction between an accountant and a bookkeeper?" Is a question that is asked by a lot of business owners in Aberdeen. In the past it was frequently looked at as to be beneath the experience, qualifications and skill set of an accountant to do bookkeeping, however due to software improvements over the past decade or so, many bookkeeping tasks will now be undertaken by accountancy companies in the Aberdeen area. Most accountancy firms now charge a set fee for bookkeeping services, to keep them in step with what a typical bookkeeper in Aberdeen would usually charge. This makes the cost of bookkeeping much more manageable than it once was, and is excellent news for small businesses in Aberdeen because it generates a greater variety of competition within the industry.
When considering the main difference between a bookkeeper and an accountant, it is the level of training and qualification that is necessary for each discipline. At least an accounting degree with specialist training in the field of taxation and other financial and business management, will normally be held by an accountant. A bookkeeper in Aberdeen will certainly have a fair grasp of these fiscal disciplines, but might not necessarily have the same levels of training and experience, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER
The recording of daily transactions (financial) of any business in Aberdeen, describes the act of bookkeeping in the simplest of terms. This can include;
- Payroll services.
- Recording of all financial incomings; electronic, cash and card payments included.
- Highlighting and rectifying any discrepancies in financial accounts.
- Monthly reports and reconciliation.
- VAT submissions and recording.
- Documenting the receipt of invoices and making certain that payment is completed promptly.
- The billing of customers for work completed or goods.
- Making sure that double-entry bookkeeping and accounting practices are observed.
Whilst it depends on the type of service you are looking for, if you're prepared to do a large majority of your own bookkeeping work, a professional bookkeeper might only be needed to periodically double-check your records. As a bare minimum this really needs to be done from month to month, to facilitate the quick identification and rectifying of any mistakes or problems. This might be the most cost-effective trade-off, as long as you're confident of staying on top of your financial transactions without affecting your day by day trading duties.
Whatever your situation, if you're looking to hire a bookkeeper in Aberdeen, it's fairly likely that you may be having problems with the financial recording aspects of your small business. Offering advice and guidance on everything from stocktaking, preparing expense reports and invoicing, a professional bookkeeping company will also be able to walk you through the process of linking your business accounts with the latest software application to facilitate the seamless processing of all your business's data.
The ability to reconcile cash flow with accounts payable, is an extremely crucial aspect of good bookkeeping. Which means that your bookkeeper will arrange the payment of bills to times when your accounts are buoyant and in good order, rather than paying off a bill right away, or waiting on an overdue notice, which many small businesses in Aberdeen are guilty of at some time or other. This doesn't just keep your business or enterprise financially stable, but keeps you in the good books of suppliers and those people who provide you with services. When you are mainly focussed on running your business, this is a juggling act that you may find tough to accomplish on your own.
For your small business, or if you're a sole trader, employing a certified bookkeeper in Aberdeen, presents you with an opportunity to have a critical eye cast over your financies. Business patterns and trends that you might have overlooked may be pinpointed by this type of dispassionate assessment. It is not uncommon for a bookkeeper to identify an opportunity or flag an area where profits are decreasing. For the future growth of any business in Aberdeen, it is essential that such key performance indicators (KPI's) are spotted early.
If you give out invoices in your business operations, having to chase up a late payment can be fairly embarrassing. Some of that awkwardness can be removed by having an independent person outside your normal business bubble make that phone call or visit to your customer. If you have problems with a persistent late payer there are legal procedures a professional bookkeeper can employ to help to clear up the issue before the matter ends up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some relatively straightforward sole trader bookkeeping requirements, that are laid out by law. A sole trader is required to keep track of expenditure and income on a month by month basis and keep all receipts and invoices. Although this might initially sound really simple, retaining the services of a bookkeeper is still good practice. When preparing your Self-Assessment tax returns, a dedicated sole trader bookkeeper in Aberdeen will be happy to advise you on what your bonafide business expenses are, and claim these back from HMRC each year. This could include advertising expenses, bills and rent if working from home, items such as computers, stationery and consumables. To learn how to help your small business to grow and prosper, speak to your bookkeeper for more comprehensive guidance and advice.
BOOKKEEPING FOR ONLINE TRADERS
There are various business niches where a specialist bookkeeping service could be required. If online payments, cross-border and international taxes, multi-currency processing and exchange rate transfers are involved, for instance if you manage a store online, you'll need to hire a bookkeeper in Aberdeen who understands these practices. Overseeing stock on a 24/7 basis is also a huge priority, if the same outlet distributes goods that you hold or produce, as I'm sure you will be aware the internet does not sleep, therefore neither should your bookkeeping services and software.
A virtual office can also be supplied in conjunction with bookkeeping service. This enables a sole trader or online only business to provide a physical link with their customers, via a postal address and telephone service. Not all bookkeepers in Aberdeen will be willing to provide this solution, but it is worthwhile talking about the possibilities if it is something that could be of benefit.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It's not mandatory for a certified Aberdeen bookkeeper to hold a degree, and many of the bookkeeping industry qualifications are held at Certificate and Diploma level. There are a selection of courses available online, although bookkeeping qualifications can still be gained through further education universities and colleges.
There are two primary certification and training organisations representing bookkeepers:
The Institute of Certified Bookkeepers or ICB: The Institute of Certified Bookkeepers or ICB is the largest bookkeeping organisation in the world and supplies accreditation to certified bookkeepers, together with training and reference material to keep their members up-to-date.
The Association of Accounting Technicians (AAT): Providing advanced qualifications and training, the Association of Accounting Technicians or AAT, entitles fully trained members to use the letters AATQB. This then entitles them to become a accredited AAT bookkeeper and promises a high level of service which is backed up by the association. To protect the values and integrity of AAT membership, an AAT bookkeeper can be subject to disciplinary and tribunal procedures if it's found that they have breached the code of practice or had a complaint made against them.
The accreditations of any Aberdeen bookkeeper can be checked on the register of ICB or ATT members on their respective websites. Performing these checks is always a good idea before you actually employ any local bookkeeper in Aberdeen.
Bookkeeping services are available for people living in in Aberdeen and also nearby in: Mastrick, Nigg, Kairnhill, Dyce, Altens, Northfield, Ruthrieston, Torry, Mannofield, Milltimber, Kingswells, Danestone, Persley, Kittybrewster, Hayton, Kincorth, Woodside, Old Aberdeen, together with these postcodes AB10 1RD, AB10 1QB, AB10 1JS, AB10 1FY, AB10 1TB, AB10 1QN, AB10 1JD, AB10 1QH, AB10 1UY, AB10 1TS. Local Aberdeen bookkeeper services will most likely have the phone code 01224 and the postcode AB10. Checking this out should guarantee that you access local bookkeepers. Aberdeen sole traders and business owners are able to utilise these and numerous other similar services.
Charity bookkeeping Aberdeen.
Aberdeen Bookkeeper Tasks
Most bookkeepers in Aberdeen will be ready to offer you the following accounting and bookkeeping services: bookkeeping services for sole traders, franchise bookkeeping Aberdeen, company cash books Aberdeen, partnership tax returns, bookkeeping for small business, bookkeeping for tradesmen Aberdeen, charity bookkeeping Aberdeen, bookkeeping for retail outlets, profit & loss reports Aberdeen, Sage bookkeeping services, landlord bookkeeping Aberdeen, accounting and bookkeeping services Aberdeen, VAT returns, bank reconciliation, bookkeeping for home-based businesses, bookkeeping quotations, letting agent bookkeeping Aberdeen, payroll bookkeeping, bookkeeping services for startups, off-site bookkeeping, general bookkeeping services, bookkeeping for the self-employed, bookkeeping for restaurants, bookkeeping for limited companies, Kashflow bookkeeping Aberdeen, bookkeeping services for charities, cash flow analysis, accounting and bookkeeping Aberdeen, professional bookkeeping services, bookkeeping for freelancers, and more. Listed are just a selection of the activities that are handled by local bookkeepers. Aberdeen professionals will keep you informed about their full range of services. If there are some other Aberdeen bookkeeper requirements that you want but cannot see here, you can list them on the QUOTE FORM provided. We will get back to you with information just as soon as we are able.
Bookkeepers Near Aberdeen
Also here.: Northfield bookkeepers, Dyce bookkeepers, Milltimber bookkeepers, Old Aberdeen bookkeepers, Danestone bookkeepers, Hayton bookkeepers, Ruthrieston bookkeepers, Persley bookkeepers, Nigg bookkeepers, Kingswells bookkeepers, Mannofield bookkeepers, Torry bookkeepers, Altens bookkeepers, Kittybrewster bookkeepers, Woodside bookkeepers, Mastrick bookkeepers, Kairnhill bookkeepers, Kincorth and more. The majority of these towns and villages are served by local bookeepers. Aberdeen residents can get rates for bookkeeping services by going
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Bookkeepers Around Aberdeen: People who live in these nearby Aberdeen streets have just recently requested bookkeeping services - Plane Tree Road, York Street, Abbotsford Place, Balnagask Wynd, Queens Lane South, South Square, Mastrick Road, St. Machar Place, Church Street, Balfron Place, Stirling Street, Watson Street, Seaton Walk, Quarry Road, Cummings Park Road, Ruthrie Road, Ash-Hill Way, Langstane Place, Inchbrae Terrace, Deevale Crescent, Woodburn Avenue, St. Andrew Street, Rubislaw Terrace Lane, Colonsay Crescent, Thorngrove Crescent, Fernielea Place, Brown Street, Foresterhill Road, as well as the following local Aberdeen postcodes: AB10 1RD, AB10 1QB, AB10 1JS, AB10 1FY, AB10 1TB, AB10 1QN, AB10 1JD, AB10 1QH, AB10 1UY, AB10 1TS.
More Scotland Bookkeepers: More Kirkcaldy, Glenrothes, Falkirk, Inverness, Motherwell, Coatbridge, Irvine, Ayr, Kilmarnock, Aberdeen, Greenock, Perth, Edinburgh, Livingston, Stirling, Paisley, Cumbernauld, Dunfermline, East Kilbride, Dumfries, Airdrie, Glasgow, Dundee and Hamilton.:
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Aberdeen Bookkeeping Jobs: View bookkeeping jobs near Aberdeen here: Aberdeen Bookkeeping Jobs
Bookkeepers in AB10 area, telephone code 01224.
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