Bookkeepers Ashton-under-Lyne Greater Manchester (OL6): You are entirely responsible for keeping accurate, "true and fair" accounting and financial records for a minimum of 6 years, if you are a sole trader, run an online store or operate a small business in Ashton-under-Lyne, as stated by the Companies Act (2006). Failing to produce such detailed records may leave you facing Company Director disqualification, as well as a fine of thousands of pounds. According to the magazine Accounting Today over 40% of small business owners spend at least eighty hours per year doing their accounts, so although you can carry out these financial records yourself, it can pay to employ a professional bookkeeping company or accountant to do them instead.
It is time to get in touch with a bookkeeper in Ashton-under-Lyne for help and advice, if just the thought of tracking liabilities and assets, producing balance sheets, creating profit, loss and fiscal reports or writing ledgers brings you feelings of dread.
BOOKKEEPER OR ACCOUNTANT?
What is the distinction between an accountant and a bookkeeper is the first question many folks in Ashton-under-Lyne ask. The truth is that while in the past many accountants considered the task of bookkeeping to be beneath their experience, qualifications and skill set, many accountancy firms in the Ashton-under-Lyne area will now undertake bookkeeping, because of huge software improvements over the past ten years or so. To keep their bookkeeping services consistent with an independent bookkeeper's fee, it is now fairly common for accounting firms to have a flat rate for these services. Since it generates a greater variety of competition within this sector, this is fantastic news for business owners in Ashton-under-Lyne, making their bookkeeping costs more affordable than they previously were.
When looking at the biggest difference between a bookkeeper and an accountant, it's the level of qualification and training that is required for each of these disciplines. Generally holding a degree in accounting, a professional accountant should also have had training in tax preparation and further qualifications in financial and business management. While having a fair grasp of such procedures, a bookkeeper in Ashton-under-Lyne may not have the same levels of experience and training, or hold these qualifications.
A BOOKKEEPER'S RESPONSIBILITIES
The bookkeeping process put simply, is the recording of the daily transactions (financial) of any business or enterprise in Ashton-under-Lyne. This will likely include, but is in no way limited to;
- VAT recording and submissions.
- Making sure that accounting and double-entry bookkeeping practices are observed.
- Logging invoices received and ensuring that payment is completed punctually.
- Payroll services.
- Logging of all financial incomings; including cash, card and electronic payments.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Monthly reconciliations and reports.
- Billing of clients for goods or work completed.
While it depends on the extent of the service you're looking for, if you are willing to do the majority of your own bookkeeping work, a bookkeeper may only be needed to double check your accounts periodically. This really needs to be done on a monthly basis as a bare minimum, since this will allow any problems or mistakes to be detected and rectified quickly. This trade-off can often be the most affordable compromise if you are able to stay up-to-date with your everyday trading and financial transactions.
It's a good bet that if you're considering hiring a bookkeeping firm in Ashton-under-Lyne, you are currently getting stressed about the financial recording side of your small business. Offering advice on everything from producing expense reports, stocktaking and invoicing, a decent bookkeeping company will also be able to help you link your accounts with the most suitable computer software to facilitate the seamless processing of all your business's data.
The reconciliation of accounts payable with cash flow is one of the most crucial elements of a good bookkeeping service. Which means that instead of waiting for a final notice, which many small businesses are guilty of, or paying off a bill straight away, your bookkeeper will organise bill payments to times when your finances are buoyant and in good shape. Along with keeping your business enterprise on a secure financial footing, this also maintains your good standing with service providers and suppliers. This is just one of those balancing acts that can be hard to accomplish when you're completely focussed on the streamlined running of your everyday business activities.
Having somebody who isn't associated with the business cast an eye over your financial dealings, is another benefit of employing a professional bookkeeper in Ashton-under-Lyne if you are a sole trader, or for your small business. This impartial appraisal can allow them to notice business trends and patterns that you may have overlooked. A bookkeeper recognising a brand new opportunity or noticing an area of the business where profits are dropping off, is not at all unusual. It is vital for the success and growth of any business in Ashton-under-Lyne, to spot such key performance indicators.
Pursuing late payments can be a fairly embarrassing scenario for you, if you give out invoices as part of your business operations. Some of that awkwardness can be removed by having an individual outside your business situation make that telephone call or visit to your client. If you have problems with a persistent late payer there are legal procedures that a bookkeeper can employ to help resolve the issue before the situation winds up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal bookkeeping requirements for sole traders, are pretty straightforward and simple. This involves keeping all receipts and invoices relating to the business, and keeping a record of income and expenditure from month to month. Whilst this may sound simple it is still a good idea to hire the expert services of a bookkeeper. When dealing with your Self-Assessment tax returns, a specialist sole trader bookkeeper in Ashton-under-Lyne will be happy to advise you on what your valid business expenses are, and claim these back from HMRC. This could include stationery, items such as laptops, bills and rent if working from home, consumables and promotional advertising. To discover how they can help your business to grow, chat to a trusted bookkeeper for more comprehensive guidance and advice.
ONLINE TRADERS
Specialised bookkeepers are often necessary for specific bookkeeping niches. By way of example, if you run an online store, you will need to employ a bookkeeper in Ashton-under-Lyne who is familiar with online payment procedures, cross-border and international taxes, exchange rate transfers and multi-currency processing. Because the internet never sleeps, if that same store sells goods that you produce or hold then keeping track of stock on a 24 hours a day basis is a vital priority which will have to be dealt with.
It's also possible to provide a remote virtual office, which can be used together with your bookkeeping service and package. This is useful in enabling an online only business or sole trader to have a phone service and postal address to offer a physical link with their client base. If this sort of service could be useful, it's definitely worth discussing, although this solution will not be supplied by all Ashton-under-Lyne bookkeeping companies.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the qualifications in the bookkeeping industry are at Diploma or Certificate level, and a qualified Ashton-under-Lyne bookkeeper need not have a degree. Qualifications can be gained via further education colleges and universities but there are also a growing selection of courses offered online.
Bookkeepers are represented by 2 key training and certification organisations:
The AAT or Association of Accounting Technicians: Providing advanced qualifications and training, the Association of Accounting Technicians or AAT, entitles fully trained members to use the letters AATQB. They're then able to become approved AAT bookkeepers, which guarantees their customers a high level of service which is backed up by the association. Bookkeepers who are affiliated with the AAT can can be liable to disciplinary and tribunal procedures if they have a complaint against them or are found to have breached the code of conduct. This helps to protect the credibility of the AAT membership.
The Institute of Certified Bookkeepers or ICB: The ICB or Institute of Certified Bookkeepers is the largest organisation of its kind in the world and provides accreditation to certified bookkeepers, along with reference material and training to keep their associated members up-to-date.
The qualifications of any bookkeeper can be checked on the register of AAT or ICB members on their respective websites. Prior to employing any bookkeeping service in Ashton-under-Lyne, it's certainly a wise idea to undertake these necessary checks.
Bookkeeping services are available in Ashton-under-Lyne and also in nearby places like: Littlemoss, Millbrook, Limehurst, Hurst, Newton, Waterloo, Heyrod, Copley, Ridge Hill, Bardsley, together with these postcodes OL6 6EJ, OL6 0EL, OL6 6DW, OL6 6LG, OL6 0ZQ, OL6 6DE, OL6 6EN, OL6 0EQ, OL6 0SN, OL6 6JP. Local Ashton-under-Lyne bookkeeper services will probably have the postcode OL6 and the phone code 0161. Checking this can guarantee you access locally based bookkeepers. Ashton-under-Lyne sole traders and business owners will be able to benefit from these and many other similar services.
VAT Returns in Ashton-under-Lyne
A bookkeeper based in Ashton-under-Lyne can offer small business owners a reliable and time-saving solution for their VAT returns, freeing them up to concentrate on other important aspects of their business. With the help of a bookkeeper, you can delegate all the responsibilities of your VAT return, such as determining the amount of VAT you owe or are due, submitting your return to HMRC, and maintaining precise records of your transactions. Moreover, a local bookkeeper can provide you with valuable recommendations on how to reduce your VAT liability and make certain that you are availing all the admissible VAT that you are eligible for. With the assistance of a bookkeeper, you can rest easy knowing that your VAT returns are being managed efficiently and precisely, providing you with the opportunity to focus on the growth of your business in Ashton-under-Lyne. To conclude, Ashton-under-Lyne-based small business owners can opt for a bookkeeper's reliable, affordable, and efficient services to manage their VAT returns, enabling them to comply with tax regulations, minimize their tax obligation, and dedicate more time to expanding their business. All in all, Ashton-under-Lyne-based small business owners can opt for a bookkeeper's reliable, affordable, and efficient services to manage their VAT returns, enabling them to comply with tax regulations, minimize their tax obligation, and dedicate more time to expanding their business.
What Are the Main Advantages of Using a Bookkeeper in Ashton-under-Lyne Rather Than an Accountant?
There are numerous benefits to using a bookkeeper as opposed to an accountant, including:
- Cost-Effectiveness: Bookkeeping services are typically more cost-efficient compared to accounting services, which makes them a good choice for startups, small businesses and sole traders looking to save on expenses.
- Availability: Bookkeepers are usually more accessible and on hand to provide support and answer questions compared to an accountant, who might only be reachable during certain times.
- Time Savings: By choosing to outsource their bookkeeping tasks, business owners can save time and concentrate on other aspects of their business, for instance marketing and sales.
- Expertise: Bookkeepers sometimes have a more specialised focus on day-to-day financial transaction management and record-keeping, which can make them more effective and efficient in such tasks.
- Customisable Services: Bookkeepers often provide customised services that are tailored to a business's particular needs, whereas accountants may have a more general approach.
That being said, it's vital to note that whilst bookkeepers can provide invaluable support, they might not have the same level of expertise or qualifications as an accountant in certain aspects such as tax preparation or financial planning. In such cases, it might be necessary to check with an accountant when more specialised services are required.
Tax Returns
A self-assessment tax return may be required for self-employed people or those with small businesses in the UK. This can be a challenging task, especially if you're not acquainted with the process. A decent bookkeeper can help you with keeping your records in order and preparing your tax return on time and accurately.
There are many benefits to employing a bookkeeper for your tax returns. They will have experience and expertise to ensure the correct completion of your return. This will help you to avoid any penalties or interest charges from HMRC. Secondly, bookkeepers can save you a lot of time and hassle. They will take care of all of the paperwork and calculations, so you can concentrate on your business. Third, invaluable advice on tax planning can be provided by a bookkeeper in Ashton-under-Lyne. This enables you to increase your bottom line and reduce your tax burden. (70193)
Ashton-under-Lyne Bookkeeper Tasks
Most bookkeepers in Ashton-under-Lyne will be willing to provide you with the following bookkeeping and accounting services: bookkeeping services for startups in Ashton-under-Lyne, accounting and bookkeeping services, bookkeeping services for the self-employed, invoice processing, cash flow analysis in Ashton-under-Lyne, bookkeeping services for tradesmen, Quickbook bookkeeping, Kashflow bookkeeping, personal tax returns, bookkeeping for small businesses, small business tax returns, landlord bookkeeping in Ashton-under-Lyne, bookkeeping services for clubs, payment services, independent bookkeeping services, bookkeeping and accounting, accountancy packages, bookkeeping for sole traders, profit & loss reports Ashton-under-Lyne, Xero bookkeeping, tax return preparation, management accounts, Sage bookkeeping services, letting agent bookkeeping, partnership returns, double-entry bookkeeping, bookkeeping for payroll, off-site bookkeeping, assistance with registering for self-employment in Ashton-under-Lyne, bookkeeping for limited companies, and more. Listed are just a small portion of the tasks that are accomplished by local bookkeepers. Ashton-under-Lyne professionals will let you know their whole range of bookkeeping services. If there happen to be different Ashton-under-Lyne bookkeeper requirements that you want but don't see here, you can mention them on the QUOTE FORM provided. We'll get back to you with information as soon as we can.
Ashton-under-Lyne Bookkeeper Questions
Just last week I decided that I'd have a look at the questions that people ask with regards to bookkeeping in Ashton-under-Lyne. Many of our visitors have submitted interesting questions which are worth a mention here. The ones that I chose are, What are a bookkeeper's duties? What do bookkeeping services include? Does a bookkeeper need a degree? Which bookkeeper certification is best? What are the benefits of a bookkeeper? Does bookkeeping include payroll? How is bookkeeping differentiated to accounting? Why is bookkeeping important to any business in Ashton-under-Lyne? How much do bookkeeping services cost? Most of these questions hopefully have been addressed in the preceding paragraphs, if there are any left to be answered we will be introducing a bookkeeping "Questions and Answers" section very soon. My thanks go out to Theodore Butler, Fraser Ford, Subhan Gallagher and Delilah Bolton, for taking the trouble to send in these questions. We were also grateful to get appropriate contributions from Claire Gough in Waterloo, Alexander Whitehouse in Millbrook and Ellie Stanton in Heyrod.
Bookkeepers Near Ashton-under-Lyne
Also find: Hurst bookkeepers, Newton bookkeepers, Millbrook bookkeepers, Ridge Hill bookkeepers, Limehurst bookkeepers, Bardsley bookkeepers, Copley bookkeepers, Littlemoss bookkeepers, Waterloo bookkeepers, Heyrod bookkeepers and more. In most of these villages and towns, professionals who offer bookkeeping services are available. Such accessibility guarantees that both individuals and businesses can effortlessly locate the financial assistance necessary to successfully manage their accounts. Residents in the region can get estimates for bookkeeping projects by going here.
Bookkeeping Services Ashton-under-Lyne
- Cheap Bookkeeping
- Self-Assessment Tax Returns
- Self-Assessment Bookkeeping
- Bookkeeping Estimates
- Bookkeeping Services
- Payroll Services
- Sole Trader Bookkeeping
- Small Business Bookkeeping
- PAYE Wages and CIS
- VAT Returns
- Tax Preparation
- Credit Control
- Cash Flow Management
- Double-Entry Bookkeeping
Bookkeeper Ashton-under-Lyne
Bookkeeping Services Near Ashton-under-Lyne
Bookkeeping Ashton-under-LyneAshton-under-Lyne Bookkeeping Jobs: Browse bookkeeping jobs in Ashton-under-Lyne here: Ashton-under-Lyne Bookkeeping Jobs
If you're interested in local Ashton-under-Lyne information click here
Bookkeepers in OL6 area, and dialling code 0161.
TOP - Bookkeepers Ashton-under-Lyne
Bookkeeping Quotes Ashton-under-Lyne - Bookkeeping Ashton-under-Lyne - Bookkeeper Ashton-under-Lyne - Bookkeeping Services Ashton-under-Lyne - Tax Returns Ashton-under-Lyne - Cheap Bookkeeping Ashton-under-Lyne - Sole Trader Bookkeepers Ashton-under-Lyne - Bookkeepers Near Ashton-under-Lyne - Sole Trader Bookkeeping Ashton-under-Lyne