Bookkeepers Barnet Greater London (EN4): For anyone in Barnet who owns a small business, acts as a sole trader or runs an online store, it is their sole responsibility to keep accurate, "true and fair" accounting and financial records for a minimum of six years. This is according to the Companies Act (2006). Failing to produce these records might leave you facing disqualification as a Company Director, along with a hefty fine. There's a large time investment involved with keeping such financial records on your own, and it can be more economical to employ a professional bookkeeper or accountant, especially when you consider the fact that according to Accounting Today over 40% of small businesses spend at least eighty hours each year doing their bookkeeping duties.
If just the thought of preparing profit, loss and financial statements, tracking liabilities and assets, filling out ledgers or compiling balance sheets brings you feelings of dread, then the time has come to contact a bookkeeper in Barnet for guidance.
BOOKKEEPER OR ACCOUNTANT?
Precisely what is the difference between a bookkeeper and an accountant is the first question that springs to mind for many small business owners in Barnet. While in the past a lot of accountants considered the bookkeeping process to be beneath their qualifications, skill set and experience, a lot of accountancy firms in Barnet will now undertake most bookkeeping duties, due to software improvements over the past decade or so. To make sure their bookkeeping services are commensurate with a dedicated bookkeeper's fee, it's now fairly common for accounting companies to have a flat rate for such services. This is fantastic news for business owners in Barnet since it gives a broader range of competition within the industry and can make the cost of your bookkeeping cheaper than previously imagined.
When you're looking at the differences between an accountant and a bookkeeper in Barnet, the main one is the level of training that is required for each discipline. At least a degree in accounting with further training in the field of taxation and other business and fiscal management, will normally be held by an accountant. A bookkeeper in Barnet might not necessarily hold the qualifications or levels of training and experience, but should still have a decent understanding of these skills.
A BOOKKEEPER'S RESPONSIBILITIES
Put simply, the act of bookkeeping is to record the day to day transactions (financial) of any business or enterprise in Barnet. This can include, but is not limited to;
- Highlighting any discrepancies in the financial accounts and rectifying them.
- VAT submissions and recording.
- Billing of customers for goods or work completed.
- Monthly reconciliations and reports.
- Payroll services.
- Logging of all financial incomings; electronic, card and cash payments included.
- Making sure that accounting and double-entry bookkeeping practices are followed at all times.
- Documenting the receipt of invoices and making certain payment is completed promptly.
Contingent upon service level you require, a bookkeeper may just be needed to double check your accounts periodically, if you're willing to do the larger part of the bookkeeping work yourself. To allow for any problems or mistakes to be detected and corrected quickly, this really needs to be done from month to month as a bare minimum. If you are confident of keeping on top of your daily trading and financial transactions, this trade-off can often be the most affordable option.
Whatever your current situation is, if you are seriously considering hiring a bookkeeping firm it is fairly likely that you might be fretting over the financial recording aspects of your business in Barnet. A professional bookkeeper will help you with everything from invoicing, stocktaking and preparing expense reports, to linking your accounts with the latest software application to seamlessly of all your financial data.
One of the most important elements of good bookkeeping, is being able to correctly reconcile cash flow with accounts payable. Which means that rather than waiting on a final notice, which many small businesses are guilty of at some time or other, or paying off a bill straight away, your bookkeeper will organise bill payments to times when your finances are buoyant and in good order. As well as keeping your business or enterprise financially stable, this also maintains your good standing with your suppliers and service providers. This is one of those juggling acts that can be tricky to perform when you are mostly focussed on the streamlined running of your daily business operations.
If you are a sole trader, or own a small business, using a qualified bookkeeper in Barnet, also gives them an opportunity to cast an independent eye over the financial dealings of your business. Business trends and patterns that might have gone unnoticed may be highlighted by this type of independent assessment. It's by no means unusual for a clever bookkeeper to flag an area of the business where profits are dropping off, or spot a brand new opportunity that could be worthwhile. These KPI's (key performance indicators) are vital in the success of any small business in Barnet.
It can often be embarrassing to chase up late payments if your business sends out invoices. If that phone call or visit to your client is made by an independent person from outside your business situation, it is possible for most of that awkwardness to be eliminated. If you have problems with a persistent late or non-payer there are legal methods a bookkeeper can make use of to help resolve the situation before the issue ends up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
As a sole trader the requirements for bookkeeping, as laid out by law, start off comparatively straightforward. This involves keeping all invoices and receipts in relation to the business, and tracking income and expenditure from month to month. Although this might initially sound quite easy, retaining the expertise of a bookkeeper is still good practice. When dealing with your Self-Assessment tax returns, a professional sole trader bookkeeper in Barnet will be in a position to advise you on what your legitimate business expenses are, and make sure these are claimed back from HMRC each year. This may include promotional advertising, consumables, items such as laptops, bills and rent if you work from home and stationery. For more comprehensive advice, talk to your bookkeeper, and learn how they may be able to help your business to grow going forward.
ONLINE TRADERS IN BARNET
Specialised bookkeepers are required now and again for certain bookkeeping niches. If you manage an online store for example, you are going to need a bookkeeper in Barnet who is familiar with cross-border and international taxes, online payment procedures, exchange rate transfers and multi-currency processing. If the same shop sells goods that you hold or produce, then regulating stock on a 24 hours a day basis is a major priority, as I'm sure you will realise the internet never sleeps, therefore nor should your bookkeeping software or services.
Together with bookkeeping service, it's also possible to supply a remote virtual office. This enables a sole trader or online only business to offer a physical connection to their buyers, via a telephone service and postal address. Although this option might not be provided by all Barnet bookkeeping businesses, it's definitely worth a discussion if this is something which is needed.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A certified bookkeeper in Barnet does not need to hold a university degree and a number of qualifications for the industry are at Certificate and Diploma level. There's a growing range of online courses available, although bookkeeping qualifications can still be gained through further education universities and colleges.
Bookkeepers are represented by 2 main certification and training organisations:
The AAT (Association of Accounting Technicians): With fully certified bookkeepers entitled to use the letters AATQB, the Association of Accounting Technicians (AAT) provides advanced qualifications and training. This promises a high standard of service to their clients which is backed up by the organisation, and enables them to become a licensed AAT bookkeeper. To preserve the integrity and values of the AAT, an AAT bookkeeper can be subject to disciplinary and tribunal processes if a complaint is made against them or they are found to have broken the code of practice.
The Institute of Certified Bookkeepers (ICB): The Institute of Certified Bookkeepers (ICB) is the largest organisation on the planet and offers accreditation to certified bookkeepers, in addition to training and reference material to keep their members up-to-speed with the latest trends.
You're able to check the qualifications of any professional bookkeeper on the register of AAT or ICB members on their websites. Performing such checks is generally advisable before actually hiring any professional bookkeeper in Barnet.
Bookkeeping services are available for people living in in Barnet and also in: Shenley, North Finchley, Borehamwood, Hadley Wood, Enfield, Oakwood, Potters Bar, Palmers Green, Edgeware, Dancers Hill, Radlett, Highwood Hill, High Barnet, Arkley, Kitts End, Underhill, Cockfosters, as well as in these postcodes EN4 8JP, EN4 8NX, EN4 8BB, EN4 8EW, EN4 8LY, EN4 8AF, EN4 8AJ, EN4 8JD, EN4 8DL, EN4 8DG. Locally based Barnet bookkeeper services will probably have the postcode EN4 and the phone code 020. Checking this out can ensure that you are accessing locally based bookkeepers. Barnet sole traders and business owners are able to utilise these and many other related services.
Barnet Bookkeeper Tasks
Most Barnet bookkeepers will be willing to offer you the following bookkeeping and accounting services: bookkeeping for shops, bookkeeping for home-based businesses Barnet, bookkeeping and accounting, off-site bookkeeping services, double-entry bookkeeping, bookkeeping services for retail outlets, management accounts in Barnet, bookkeeping services for tradesmen, VAT returns, business bookkeeping Barnet, cheap bookkeeping services Barnet, bookkeeping estimates, bookkeeping services for restaurants, management reports, bookkeeping services for freelancers, Sage bookkeeping services, bookkeeping for organisations, wages & PAYE in Barnet, bookkeeping services, bookkeeping for startups in Barnet, bank reconciliations, cash flow analysis, bookkeeping services for sole traders, profit & loss reports, bookkeeping for clubs in Barnet, bookkeeping for small business, and more. These are just some of the tasks that are handled by local bookkeepers. Barnet companies will let you know their whole range of services. If there are some other Barnet bookkeeper requirements that you want but don't see here, you should list them on the QUOTE FORM provided. We'll get back to you with details as soon as we can.
Greater London Bookkeeping Enquiries
Current Greater London bookkeeping enquiries: Caden Mcmillan in Aldwych, Greater London was asking about bookkeeping for his bricklaying business. Francesco Harley in Cheam was asking about bookkeeping services for his online business. Lincoln Spooner from Biggin Hill was looking for bookkeeping for his literary club. Mae Connell in Noak Hill was searching for bookkeeping services for her Zumba class business. Camille Ashby in Highbury was interested in a bookkeeper for her internet sales business. Ava-Grace Mistry from Wimbledon, Greater London was hunting for a bookkeeper to do her Self-Assessment tax returns. Kaleb Fitzpatrick in Greenford, Greater London was enquiring about a bookkeeper for his public house. Amirah Chapman from Orpington, Greater London was looking for bookkeeping services for her fashion company. Most of these local clients did a search for "Bookkeepers Greater London" and came across this page on Google, Bing or Yahoo.
Bookkeeper Greater London
In the Greater London area you'll also find: Oakleigh Park bookkeepers, Monken Hadley bookkeeping accountants, St Pancras accounts services, Petts Wood bookkeeping services, Newington bookkeepers, Chelsfield bookkeeper, Brimsdown bookkeeping services, Southall bookkeepers, Lee accounts services, Old Oak Common bookkeeping, Aldborough Hatch bookkeeping accountants, Childs Hill bookkeeper, Sunbury on Thames bookkeeper, Croydon bookkeepers, Enfield Highway bookkeepers, Gallows Corner accounts services, Leamouth bookkeeping services, Kilburn bookkeepers, Lampton bookkeeping services, Cowley bookkeeping accountants, Arkley accounts services, East Barnet bookkeeping accountants, Chislehurst bookkeeper, Finsbury Park bookkeeping accountants, South Hackney bookkeeping, Chase Cross bookkeeper, Upminster Bridge bookkeeping, Alperton bookkeeper, Tooting bookkeeping services. All throughout the Greater London region you should be able to locate bookkeepers who will provide you with quality services for your security requirements. If you're unable to find the perfectin Barnet itself you shouldn't have any problem locating a good one nearby.
Bookkeepers Near Barnet
Also here.: Hadley Wood bookkeepers, Underhill bookkeepers, Cockfosters bookkeepers, Kitts End bookkeepers, High Barnet bookkeepers, Shenley bookkeepers, Palmers Green bookkeepers, Radlett bookkeepers, Arkley bookkeepers, Borehamwood bookkeepers, Potters Bar bookkeepers, Enfield bookkeepers, Edgeware bookkeepers, Oakwood bookkeepers, Highwood Hill bookkeepers, North Finchley bookkeepers, Dancers Hill and more. All these areas are catered for by local bookeepers. Barnet residents can get pricing for bookkeeping services by clicking
- Barnet Bank Reconciliations
- Barnet Profit and Loss Analysis
- Barnet Tax Returns
- Barnet Bookkeeping Services
- Barnet Small Business Bookkeeping
- Barnet Credit Control
- Barnet Double-Entry Bookkeeping
- Barnet Cheap Bookkeeping
- Barnet Cash Flow Analysis
- Barnet Tax Preparation
- Barnet Payroll Services
- Barnet Bookkeeping Price Quotes
- Barnet VAT Returns
- Barnet Self-Assessment Bookkeeping
Bookkeepers Around Barnet: People living in the following Barnet streets have just recently inquired about bookkeeping services - Dianne Way, Trevor Close, Connaught Road, Arundel Road, St Peters Close, Boundary Close, Bulwer Gardens, Triangle Passage, St Albans Road, Cherry Hill, Barnet Gate Lane, Shelford Road, Ashurst Road, Thornton Road, Carpenters Close, Dollis Valley Way, Bournwell Close, Belmont Avenue, Burlington Rise, Dyrham Lane, Arkley View, Armstrong Crescent, Crescent Rise, Albemarle Road, Christchurch Lodge, as well as the following local Barnet postcodes: EN4 8JP, EN4 8NX, EN4 8BB, EN4 8EW, EN4 8LY, EN4 8AF, EN4 8AJ, EN4 8JD, EN4 8DL, EN4 8DG.
Bookkeeping Jobs Barnet: See bookkeeping jobs in Barnet here: Bookkeeping Jobs Barnet
If you're interested in local Barnet info take a look here
Bookkeepers in EN4 area, telephone code 020.
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