Bookkeepers Belfast Northern Ireland (BT1): For anybody in Belfast who runs an online store, operates a small business or acts as a sole trader, it's their sole responsibility to maintain "true and fair", accurate accounting and financial records for a minimum of six years. This is laid out by the Companies Act (2006). If you're unable to produce these records you face thousands of pounds in fines and possibly disqualification as a Company Director. You can undertake these financial recordings yourself, although when you think about the fact that according to the magazine Accounting Today over forty percent of small businesses spend over eighty hours annually on their accounts, it can be more cost-effective to employ a professional accountant or bookkeeper.
It is high time to get in touch with a bookkeeper in Belfast for guidance, if the very thought of producing balance sheets, tracking liabilities and assets, preparing profit, loss and fiscal reports or writing ledgers fills you with dread.
BOOKKEEPER OR ACCOUNTANT?
For many small business owners in Belfast, an obvious question when faced with this dilemma is "Precisely what is the distinction between an accountant and a bookkeeper?" The reality is that whilst at one time the process of bookkeeping, was looked at as beneath the experience, skill-sets and qualifications of an accountant, due to tremendous improvements in software over the past decade or so, most accountancy firms in Belfast will now take on bookkeeping tasks. For many accountancy companies it's now common practice to charge a set fee for bookkeeping services, so that they're in keeping with the usual charges of a dedicated bookkeeper in Belfast. This is great news for business owners in Belfast because it gives a greater variety of competition within the industry and can make the cost of your bookkeeping much more affordable than previously imagined.
It is basically the level of qualification and training that is needed for each discipline, that reflects the biggest difference between a bookkeeper and an accountant in Belfast. Normally holding an accounting degree, a professional accountant should also have had further training in tax matters and have qualifications in fiscal and business management. Although possibly not having this level of experience and training, or holding the same financial qualifications, a bookkeeper in Belfast will still have a good grasp of all such procedures.
RESPONSIBILITIES OF A BOOKKEEPER IN BELFAST
The act of bookkeeping put simply, is the recording of the day by day fiscal transactions of any business enterprise in Belfast. This will include;
- Monthly reconciliations and reports.
- Highlighting and rectifying any discrepancies in financial accounts.
- Logging of all financial incomings; cash, electronic and card payments included.
- Making sure that accounting and double-entry bookkeeping practices are followed at all times.
- Recording the receipt of invoices and making sure that payment is completed promptly.
- Payroll services.
- VAT submissions and recording.
- The billing of clients for goods or work completed.
Whilst it depends on the extent of the service you are looking for, if you're able to carry out most of your own bookkeeping work, a professional bookkeeper might just be needed to double check your accounts periodically. So that any problems or mistakes can be discovered and rectified quickly, as a bare minimum, this needs to be each month. If it's possible to stay on top of your daily trading and financial transactions, this trade-off can sometimes be the most economical solution.
It's fairly likely that if you're considering hiring a bookkeeper in Belfast, you're currently stressed with the financial recording side of your small business. A professional bookkeeper will be able to help you to link your accounts with the latest software program to facilitate the seamless processing of financial data, and will provide assistance with things like stocktaking, creating expense reports and invoicing.
One of the most crucial aspects of good bookkeeping practice, is being able to effectively reconcile cash flow with accounts payable. This means that your bookkeeper will optimise the payment of bills to a time when your finances are in the best possible position, rather than paying an outstanding bill immediately, or waiting for an overdue notice, which many small businesses are guilty of at some time or other. As well as keeping your business financially stable, this also maintains your reputation with service providers and suppliers. This is a balancing act that can be challenging to accomplish as an individual when you are mainly focussed on running your company.
For your small business, or if you are a sole trader, employing an experienced bookkeeper in Belfast, gives you the opportunity to have a critical eye cast over your financies. Business trends and patterns that you may have disregarded may be highlighted by this kind of unbiased evaluation. A bookkeeper identifying an opportunity or flagging up an area where profits are dropping off, is by no means unheard of. Spotting these key performance indicators (KPI's) is essential for the success of any business in Belfast.
Having to pursue a late payment can be an awkward scenario for you, if you send out invoices in your business operations. By having a professional outside your business situation make that phone call or visit to your client, some of that awkwardness can be removed. There are legal procedures that a professional bookkeeper can employ, if you've got a repeating late payer, and they can help to clear up the issue before the situation ends up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal bookkeeping requirements for sole traders, are fairly straightforward and simple. This involves keeping all invoices and receipts in relation to the business, and keeping track of expenditure and income on a monthly basis. It's still a good idea to hire the services of a competent bookkeeper, even though this might sound easy. Advising you on what legitimate business expenses you may be able to claim back, a dedicated sole trader bookkeeper in Belfast will deal with HMRC on your behalf. This could include advertising, bills and rent if you work from home, items such as laptops, printer ink and stationery goods. To learn how they can help your small business to grow and prosper, talk to your bookkeeper for more in-depth advice.
Specialist bookkeepers are occasionally required for particular niches in bookkeeping. You will need a bookkeeper in Belfast who is familiar with exchange rate transfers, multi-currency processing, online payment procedures and cross-border and international taxes, if you manage an online store for example. Keeping track of inventory on a 24 hours a day basis is also a massive priority, if the same shop sells goods that you hold or produce, after all the internet does not sleep, so nor should your bookkeeping software or services.
A remote virtual office can also be supplied together with bookkeeping service. This is handy in enabling a sole trader or online only business to have a phone service and postal address to provide a physical link with their customer base. Although this option may not be offered by all bookkeepers in Belfast, it is certainly worth talking about the possibilities if this service is something which is needed.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A professional Belfast bookkeeper does not need to hold a degree and a great many qualifications in this field are at Diploma or Certificate level. Qualifications can be gained via further education universities and colleges but there's also an ever-growing array of online courses available.
To provide certification and training for bookkeepers, there are basically two primary organisations of interest:
The AAT (Association of Accounting Technicians): The AAT (Association of Accounting Technicians) provides a training schedule with advanced qualifications allowing a fully certified member to use the letters AATQB after their name. They're then able to become licensed AAT bookkeepers, which promises their customers a high level of service which is backed up by the association. If a bookkeeper who is affiliated with the AAT has a complaint filed against them or is found to have violated the code of practice they can be liable to tribunal and disciplinary processes to safeguard the trustworthiness of AAT membership.
The Institute of Certified Bookkeepers or ICB: The Institute of Certified Bookkeepers (ICB) is the largest organisation of its kind on the planet and provides accreditation to certified bookkeepers, along with training and reference material to keep their members informed about the latest trends and innovations.
You are able to check the accreditations of any bookkeeper in Belfast on the register of ICB or ATT members on their websites. Prior to using any bookkeeping service in Belfast, it is generally a great idea to carry out these necessary checks.
Bookkeeping services are available for people living in in Belfast and also nearby in: Finaghy, Greenisland, Drumbeg, Andersontown, Newtownabbey, Dunmurry, Milltown, Hannahstown, Dundrod, Dundonald, Upper Galwally, Moneyreagh, Holywood, Whiteabbey, Ballygowan, Comber, Lambeg, Lisburn, Ballyskeagh, Gilnahirk, Strandtown, together with these postcodes BT1 1HE, BT1 2JR, BT1 1DL, BT1 1HB, BT1, BT1 2EW, BT1 1QA, BT1 2BS, BT1 2LP, BT1 1FP. Locally based Belfast Bookkeepers will probably have the telephone dialling code 028 and the postcode BT1. Verifying this should make certain that you access locally based bookkeepers. Belfast sole traders and business owners will be able to utilise these and numerous other similar services.
Belfast Bookkeeper Tasks
Most Belfast bookkeepers will be willing to provide you with the following bookkeeping services: double-entry bookkeeping, bookkeeping for home-based businesses, personal tax returns Belfast, VAT returns, Kashflow bookkeeping services Belfast, bookkeeping services for restaurants, bank reconciliations, bookkeeping prices, accounting and bookkeeping Belfast, general bookkeeping services in Belfast, payment services, franchise bookkeeping Belfast, invoice processing, payroll bookkeeping in Belfast, accounting and bookkeeping services in Belfast, PAYE & wages, bookkeeping for small business, bookkeeping services for the self-employed, cheap bookkeeping services, bookkeeping for tradesmen Belfast, bookkeeping services, credit control, bookkeeping for startups, independent bookkeeping services, bookkeeping for societies Belfast, professional bookkeeping services in Belfast, bookkeeping for limited companies, bookkeeping services for retail outlets, and more. These are just a small portion of the duties that are accomplished by local bookkeepers. Belfast providers will be happy to tell you about their whole range of bookkeeping services. If there are different Belfast bookkeeper requirements that you want but cannot see here, you can list them on the QUOTE FORM provided. We will be in touch with specifics just as soon as we are able.
Bookkeepers Near Belfast
Also here.: Greenisland bookkeepers, Lisburn bookkeepers, Upper Galwally bookkeepers, Hannahstown bookkeepers, Comber bookkeepers, Finaghy bookkeepers, Dunmurry bookkeepers, Ballygowan bookkeepers, Andersontown bookkeepers, Dundrod bookkeepers, Holywood bookkeepers, Drumbeg bookkeepers, Ballyskeagh bookkeepers, Whiteabbey bookkeepers, Newtownabbey bookkeepers, Gilnahirk bookkeepers, Milltown bookkeepers, Lambeg bookkeepers, Dundonald bookkeepers, Strandtown bookkeepers, Moneyreagh and more. All of these towns and villages are serviced by local bookeepers. Belfast businesses and traders can get prices for bookkeeping services by clicking
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Bookkeepers Around Belfast: People living in these nearby Belfast streets and areas have recently enquired about bookkeeping services - Friendly Place, Gilnahirk Chase, Dover Street, Amcomri Street, Kingsden Park, Florida Drive, Glanworth Drive, Clonfaddan Street, Collin Gardens, Hawthornden Gate, Fortwilliam Demesne, Hornby Parade, Glendarragh Mews, Donegall Avenue, Bristol Avenue, Holland Crescent, Fernwood Street, Cabin Hill Park, Innisfayle Pass, Camberwell Terrace, Castle Mews, Deerpark Drive, Granton Park, Bryson Street, Balmoral Drive, Denmark Street, Hillmount Court, Ardilea Close, Broomhill Lane, Heatherbell Street, as well as these local Belfast postcodes: BT1 1HE, BT1 2JR, BT1 1DL, BT1 1HB, BT1, BT1 2EW, BT1 1QA, BT1 2BS, BT1 2LP, BT1 1FP.
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Bookkeepers in BT1 area, telephone code 028.
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