Bookkeepers Andover Hampshire (SP10): For any individual in Andover who owns a small business, runs an online store or acts as a sole trader, it's their sole responsibility to maintain "true and fair", accurate financial and accounting records for a minimum of 6 yrs. This is outlined by the 2006 Companies Act. Failing to produce these detailed records may leave you faced with disqualification as a Company Director, along with thousands of pounds in fines. There is a considerable investment of time involved with maintaining these financial records on your own behalf, and it can pay to use a professional accountant or bookkeeper, especially if you consider the fact that according to the trade magazine Accounting Today over 40% of small business owners spend at least 80 hours every year on their bookkeeping activities.
It is time to get in touch with a bookkeeper in Andover for advice and guidance, if the thought of compiling balance sheets, writing out ledgers, creating profit, loss and fiscal reports or tracking liabilities and assets brings you feelings of terror.
BOOKKEEPER OR ACCOUNTANT?
For many business owners in Andover, the first question that springs to mind when facing this predicament is "Precisely what is the distinction between a bookkeeper and an accountant?" At one time it was often considered to be beneath the qualifications, experience and skill-sets of an accountant to do the work of a bookkeper, but due to improvements in software over the past decade or so, many bookkeeping tasks will now be carried out by accountancy companies in the Andover area. For many accountancy firms it's now quite common to charge a set rate for bookkeeping services, to keep them competitive with the normal fees of a typical bookkeeper in Andover. This makes the cost of bookkeeping cheaper than it once was, and is great news for business owners in Andover because it generates a greater variety of competition within the marketplace.
The level of training that's necessary is the biggest difference between an accountant and a bookkeeper. An accountant will usually hold at least an accounting degree with specialist training in the field of taxes and other fiscal and business management. A bookkeeper in Andover might not hold the qualifications or levels of experience and training, but should still have an understanding of such disciplines.
RESPONSIBILITIES OF A BOOKKEEPER IN ANDOVER
To explain in the simplest of forms possible, the bookkeeping process involves the recording of day to day monetary transactions of any business enterprise in Andover. This is likely to include, but is by no means limited to;
- Logging of all financial incomings; electronic, cash and card payments included.
- Recording the receipt of invoices and making certain that payment is completed by the due date.
- Payroll services.
- VAT submissions and recording.
- Highlighting and rectifying any discrepancies in financial accounts.
- Billing of customers for work completed or goods.
- Ensuring double-entry bookkeeping and accounting practices are followed.
- Monthly reporting and reconciliations.
Contingent upon service level you need, e.g. whether you're in a position to do the majority of your bookkeeping work; a bookkeeper might just be needed to double check your figures on a set schedule. To make sure that any problems or mistakes can be discovered and rectified swiftly, at the bare minimum, this needs to be on a monthly basis. If you are confident of remaining in control of your day to day trading and financial transactions, this trade-off can sometimes be the most cost-effective compromise.
Whatever your circumstances, if you are seriously looking to hire a bookkeeper there's a fair chance that you may be fretting over the financial recording side of your business in Andover. A professional bookkeeper will be able to assist you in linking the most up-to-date software application with your business accounts to facilitate the seamless arrangement of transactional data, and will provide assistance with stuff like stocktaking, creating expense reports and invoicing.
An extremely important element of good bookkeeping is the ability to reconcile accounts payable with cash flow. Which means that rather than waiting on an overdue notice, which many small businesses in Andover are guilty of at some time or other, or paying off a bill immediately, your bookkeeper will organise bill payments to times when your finances are in good shape and buoyant. This does not just keep you in the good books of suppliers and those who supply you with services, but also ensures that your business or enterprise is financially sound. When you are primarily focussed on the smooth running of your business, this is a balancing act that you may find challenging to perform on your own.
Having someone who's not affiliated with the business cast an eye over your financial affairs, is another good thing about employing an experienced bookkeeper in Andover for your small business or if you are a sole trader. This independent evaluation can allow them to discover business patterns and trends that might have gone unnoticed. A bookkeeper identifying an opportunity or noticing an area of the business where profits are dropping, is not at all unusual. Spotting such KPI's (key performance indicators) is vital for the growth of any small business in Andover.
If you send out invoices in your business operations, needing to pursue a late payment can be really embarrassing. Some of that apprehension can be taken away by having an independent person outside your business situation visit your customers or make that telephone call. There are legal procedures that a professional bookkeeper can use, if you have problems with a consistent late or non-payer, and they can help to resolve the issue before the situation ends up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some comparatively uncomplicated sole trader bookkeeping requirements, which are set out in law. Essentially, sole traders must save all invoices and receipts, and track expenditure and income from month to month. Now, this does not sound too difficult does it? But, it's still a wise move to hire the expert services of a bookkeeping company to make sure that it's all done correctly. Offering advice on what legitimate business expenses you are able to claim back, a specialist sole trader bookkeeper in Andover will deal with HMRC on your behalf. This could include consumables, advertising expenses, bills and rent if working from home, items such as computing equipment and stationery. Talk to a trusted bookkeeper for more detailed advice and learn how they may be able to help your business grow.
ONLINE TRADERS IN ANDOVER
Specialisedare needed from time to time for particular niches in bookkeeping. You'll require a bookkeeper in Andover who is familiar with multi-currency processing, online payment procedures, exchange rate transfers and international and cross-border taxes, if you run a store online for instance. If you hold or produce the merchandise that you distribute through that store, then it will be a massive priority for your bookkeeping services and software to maintain your your stock on a 24 hours a day basis, because the internet never sleeps.
It is also possible to provide a remote virtual office, which can be used together with your bookkeeping services and package. This is beneficial in allowing an online only business or sole trader to have a telephone service and postal address to provide a physical link with their customer base. Although this option may not be offered by all bookkeepers in Andover, it's certainly worth discussing the possibilities if this is something which is required.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It isn't necessary for a qualified Andover bookkeeper to have a university degree, and many of the bookkeeping sector qualifications are held at Diploma and Certificate level. If the preferred route to qualification is via further education colleges and universities, this alternative is still available, although there there's an ever-growing array of bookkeeping courses available online.
There are 2 principal certification and training organisations representing bookkeepers:
The AAT (Association of Accounting Technicians): The Association of Accounting Technicians or AAT provides a training schedule with advanced qualifications enabling fully trained bookkeepers to use the letters AATQB after their name. This then entitles them to become a registered AAT bookkeeper and assures a high level of service which is backed up by the association. If a bookkeeper who's associated with the AAT is found to have contravened the code of conduct or has a complaint filed against them, they may be liable to tribunal and disciplinary processes to protect the integrity and values of the aat membership.
The Institute of Certified Bookkeepers (ICB): Keeping their associated members current with the latest trends, the Institute of Certified Bookkeepers (ICB) is the largest organisation of its kind in the world, providing accreditation to certified bookkeepers, together with training and reference material.
By going to their respective websites, it's possible to examine the register of AAT or ICB members, to verify the qualifications of any professional bookkeeper. Prior to retaining the services of any bookkeeping company in Andover, it's definitely wise to carry out these checks.
Bookkeeping services are available in Andover and also in nearby places like: Andover Down, Kingsway Gardens, Upper Clatford, Goodworth Clatford, Anna Valley, Hatherdean, Weyhill, East Anton, Picket Piece, Enham Alamein, Knights Enham, Abbotts Ann, together with these postcodes SP10 1AB, SP10 1LD, SP10 1NT, SP10 1EH, SP10 2AL, SP10 2AG, SP10 1EB, SP10 1DB, SP10 1NE, SP10 2BF. Locally based Andover bookkeeper services will probably have the telephone code 01264 and the postcode SP10. Checking this will make certain that you're accessing locally based bookkeepers. Andover sole traders and business owners will be able to benefit from these and many other similar services.
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Andover Bookkeeper Tasks
Most bookkeepers in Andover will be willing to offer you the following accounting and bookkeeping services: PAYE & wages in Andover, Xero bookkeeping in Andover, Kashflow bookkeeping, franchise bookkeeping Andover, Quickbook bookkeeping services, bookkeeping for pubs in Andover, bank reconciliation Andover, corporation tax returns, payment services Andover, accounting and bookkeeping services, cash flow analysis, bookkeeping for payroll, management accounts, accounting and bookkeeping, credit control in Andover, mobile bookkeeping services, charity bookkeeping Andover, QUOTE FORM provided. We will get back to you with specifics just as soon as we are able.Andover, bookkeeping services for retail outlets in Andover, professional bookkeeping services Andover, tax preparation, Sage bookkeeping Andover, bookkeeping quotes, bookkeeping services for self-employed Andover, bookkeeping for clubs in Andover, bookkeeping for societies Andover, bookkeeping services for sole traders, bookkeeping for home-based businesses, and more. Listed are just a few of the tasks that are accomplished by local bookkeepers. Andover professionals will let you know their entire range of bookkeeping services. If there are additional Andover bookkeeper requirements that you need but can't see here, you can easily list them on the
Bookkeeping Enquiries Hampshire
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Bookkeepers Near Andover
Also here.: Anna Valley bookkeepers, Abbotts Ann bookkeepers, Weyhill bookkeepers, Enham Alamein bookkeepers, Hatherdean bookkeepers, Upper Clatford bookkeepers, Goodworth Clatford bookkeepers, Kingsway Gardens bookkeepers, Knights Enham bookkeepers, Andover Down bookkeepers, East Anton bookkeepers, Picket Piece and more. All these towns and villages are catered for by local bookeepers. Andover traders and businesses can get quotes for bookkeeping services by going
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Bookkeepers Around Andover: People who live in these nearby Andover areas have recently requested bookkeeping services - Shepherds Spring, The Holt, Thatched Cottages, Stourhead Close, Central Street, Chapel Lane, Byng Walk, Bourne Meadow, The Beeches, Tilleydown Cottages, Clatford Manor Estate, Stonehanger, Blissmore Lane, Bury Hill Close, Shepherd's Rise, Barton Close, Biddesden Lane, Chichester Close, Barlows Lane, Clarence Close, Corunna Main, Chatsworth Drive, Silchester Close, Spey Court, Blue Hayes Close, Sutherland Court, Doughty Way, Sheep Fair Close, Columbus Way, Cusden Drive, as well as these local Andover postcodes: SP10 1AB, SP10 1LD, SP10 1NT, SP10 1EH, SP10 2AL, SP10 2AG, SP10 1EB, SP10 1DB, SP10 1NE, SP10 2BF.
More Hampshire Bookkeepers: More Southampton, Fareham, Andover, Stubbington, Eastleigh, Hythe, Gosport, Waterlooville, Basingstoke, Hedge End, Winchester, Alton, Horndean, Emsworth, New Milton, Southsea, Yateley, Havant, Portsmouth, Aldershot, Farnborough, Fleet and Totton.:
For the best local information regarding Andover, Hampshire take a look here
Bookkeepers in SP10 area, 01264.
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