Bookkeepers Bexley Greater London (DA5): In accordance with the Companies Act, if you are a sole trader, run a small business or operate an online store in Bexley, you're entirely responsible for maintaining accurate, "true and fair" accounting and financial records for at least six years. Failure to produce these detailed records could leave you facing disqualification as a Company Director, along with thousands of pounds in fines. Accounting Today magazine says that over 40% of small business owners spend over eighty hours every year on their bookkeeping, therefore although you can undertake these financial recordings on your own, it is often better to use a professional accountant or bookkeeping company to do them for you.
If you are filled with panic merely thinking about producing balance sheets, preparing profit, loss and fiscal reports, writing out ledgers or tracking assets and liabilities, then the time to contact a bookkeeper in Bexley for help and advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
A common question that's asked by a lot of business owners in Bexley is "What exactly is the difference between a bookkeeper and an accountant?" The fact is that whilst in the past the bookkeeping process, was deemed beneath the experience, skill-sets and qualifications of an accountant, because of software developments over the past 10 years or so, a lot of accountancy firms in the Bexley area will now undertake bookkeeping tasks. Most accounting companies now charge a fixed rate for bookkeeping services, to keep them in step with what an independent bookkeeper in Bexley would routinely charge. Because it offers a wider range of competition within the marketplace, this is fantastic news for business owners in Bexley, making their bookkeeping costs much more affordable than they previously were.
It is essentially the standard of training and qualification that's necessary for each discipline, that demonstrates the main difference between an accountant and a bookkeeper in Bexley. At least an accounting degree with specialist training in the field of taxes and other business and financial management, will usually be held by an accountant. A bookkeeper in Bexley might not necessarily have the same levels of experience and training, or hold these qualifications, but will still have an understanding of these skills.
RESPONSIBILITIES OF A BOOKKEEPER IN BEXLEY
The bookkeeping process in simple terms, is the recording of the day by day transactions of any business enterprise in Bexley. This will include;
- Documenting the receipt of invoices and making sure that payment is completed on time.
- VAT submissions and recording.
- Highlighting any discrepancies in financial accounts and rectifying them.
- Payroll services.
- Billing of customers for work completed or goods.
- Recording of all financial incomings; including electronic, card and cash payments.
- Ensuring accounting and double-entry bookkeeping practices are observed.
- Monthly reporting and reconciliations.
Contingent upon the level of service you're looking for, e.g. whether you're able to undertake the larger part of your bookkeeping work; a bookkeeper may just be needed to double check your accounts every once in a while. To enable any problems or mistakes to be found and corrected promptly, this should be every month as a bare minimum. Provided that you're able to stay in control of your monetary transactions without compromising your everyday business activities, this solution can be an extremely cost-effective trade-off.
Whatever the scenario is with your small business, if you're seriously looking to hire a bookkeeping service in Bexley, there is a fair chance that you may be having problems with the process of recording your financial data. Offering assistance with everything from stocktaking, creating expense reports and invoicing, a good bookkeeping company will also be able to guide you through the process of linking your business accounts with the latest computer software to facilitate the seamless processing of your business's data.
An especially important element of a good bookkeeper is being able to reconcile accounts payable with cash flow. This means that your bookkeeper will optimise bill payments to times when your accounts are in good shape, instead of paying off a bill straight away, or waiting on a final notice, which a lot of small businesses are guilty of. This doesn't just keep you in the good books of suppliers and those businesses who supply services to you, but also makes certain that your business or enterprise is financially stable. When you are primarily focussed on running your company, this is a balancing act that you may find hard to perform on your own.
If you are a sole trader, or own a small business, employing a qualified bookkeeper in Bexley, also gives them an opportunity to cast an unbiased eye over the running of your business. This dispassionate appraisal can enable them to discover business trends and patterns that you might have overlooked. It is not at all uncommon for an astute bookkeeper to flag up an area where profits are dropping off, or spot a new opportunity that may be worthwhile. For driving the growth of any small business in Bexley, it is essential that these key performance indicators are spotted early on.
It can sometimes be rather humiliating to pursue a late payment if your company gives out invoices. By having somebody outside your business bubble visit your client or make that telephone call, some of that apprehension can be taken away. To help with resolving the situation, if you have problems with a consistent late payer, there are legal solutions that can be made use of by a professional bookkeeper, so legal proceedings can be averted.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some reasonably straightforward sole trader bookkeeping requirements, that are laid out by law. This involves saving all receipts and invoices relating to the business, and keeping track of income and expenditure from month to month. Whilst this might sound easy it is still good practice to retain the services of a bookkeeper. Advising you on what legitimate business expenses you are able to claim back, a professional sole trader bookkeeper in Bexley will look after your financial dealings with HMRC. This might include rent and bills if working from home, items such as computers, advertising expenses, stationery goods and printer ink. To see how they can help your business to grow and prosper, speak to your local bookkeeper for more comprehensive guidance and advice.
There are certain niches in bookkeeping where the expertise of a specialist may be essential. By way of example, if you run a store online, you'll need to employ a bookkeeper in Bexley who understands multi-currency processing, international and cross-border taxes, online payment procedures and exchange rate transfers. If you produce or hold the goods that you sell through that outlet, then it is going to be a major priority for your bookkeeping software or services to regulate your stock on a 24 hours a day basis, given that the internet does not sleep.
In conjunction with bookkeeping service, it is also possible to supply a virtual office. This allows a sole trader or online only business to offer a physical link with their clients, via a telephone service and postal address. Although this solution may not be offered by all bookkeepers in Bexley, it is definitely worth a discussion if this service is something that could be advantageous.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the bookkeeping industry are at Certificate or Diploma level, and a professional bookkeeper in Bexley does not need to have a degree. There are an ever-growing selection of online courses available, although bookkeeping qualifications can still be gained through further education colleges and universities.
To provide certification and training for bookkeepers, there are basically two key organisations of interest:
The Institute of Certified Bookkeepers or ICB: Keeping their associated members current with the latest trends, the Institute of Certified Bookkeepers or ICB is the largest bookkeeping organisation in the world, providing certification for qualified bookkeepers, in addition to reference material and training.
The Association of Accounting Technicians or AAT: With certified members being able to use the letters AATQB, the AAT or Association of Accounting Technicians provides advanced qualifications and a training schedule. This then permits them to become a certified AAT bookkeeper and guarantees a standard of service which is backed by the association. If a bookkeeper who's a member of the AAT has a complaint against them or is found to have breached the code of conduct they may be subject to disciplinary and tribunal procedures to preserve the integrity of the AAT membership.
The qualifications of any professional Bexley bookkeeper can be verified on the register of ICB or ATT members on their respective websites. Implementing this check is strongly recommended before retaining the services of any bookkeeper in Bexley.
Bookkeeping services are available for those living in in Bexley and also in: Albany Park, Coldblow, Crayford, Welling, Barnehurst, Northumberland Heath, North Cray, Slade Green, Leyton Cross, Sidcup, Hook Green, Blackfen, Bexleyheath, Chislehurst, Dartford, Wilmington, and in these postcodes DA14 5EY, DA5 1LU, DA5 1JD, DA5 1BF, DA5 1QU, DA5 1AS, DA5, DA15, DA5 1JN, DA5 1BQ. Local Bexley bookkeeper services will likely have the postcode DA5 and the phone code 020. Verifying this should confirm that you access local bookkeepers. Bexley sole traders and business owners are able to benefit from these and numerous other bookkeeping related services.
Bookkeeper Greater London
In the Greater London area you'll also locate: Edmonton accounts services, Homerton bookkeepers, Bounds Green bookkeeping, Eden Park bookkeeping accountants, Coney Hall bookkeepers, Northwood bookkeeping services, Queensbury bookkeeping accountants, Vauxhall bookkeeping, Hatton bookkeeper, Harefield accounts services, Chinatown bookkeeping accountants, Gipsy Hill bookkeeping services, Elmstead accounts services, Downe accounts services, Woodford Green bookkeeper, Riddlesdown bookkeeping services, Wimbledon accounts services, Dalston bookkeeping accountants, Thornton Heath bookkeeping accountants, Stanwell bookkeeping accountants, Stockwell bookkeeping services, Islington bookkeeper, Blackwall bookkeepers, New Barnet bookkeeping accountants, Strawberry Hill bookkeeping, Longlands bookkeepers, Muswell Hill bookkeepers, Eel Pie Island accounts services, Foots Cray bookkeeper, Waddon bookkeepers. In every district of the Greater London region you should be able to locate bookkeepers who'll offer quality services for your security requirements. If you can't find the rightin Bexley itself then you shouldn't have any difficulty locating a good one near at hand.
Bexley Bookkeeper Tasks
Most bookkeepers in Bexley will be ready to offer you the following bookkeeping services: bookkeeping for organisations, bookkeeping for the self-employed, bookkeeping services for societies in Bexley, invoice processing Bexley, accountancy packages, accounting and bookkeeping services, general bookkeeping services Bexley, independent bookkeeping services Bexley, bookkeeping services for shops, Self-Assessment tax returns, management reports, cash flow analysis, management accounts in Bexley, cheap bookkeeping services, bookkeeping for small business, bookkeeping for freelancers Bexley, Sage bookkeeping services, bookkeeping services for restaurants, small business bookkeeping, bookkeeping services for clubs, credit control, bookkeeping for charities, profit & loss reports, bank reconciliations, bookkeeping services for sole traders, bookkeeping services for limited companies, and more. Listed are just an example of the duties that are accomplished by local bookkeepers. Bexley providers will inform you of their full range of services. If there are different Bexley bookkeeper requirements that you want but don't see here, you can list them on the QUOTE FORM provided. We will get back to you with information as soon as we are able.
Bookkeepers Near Bexley
Also here.: Blackfen bookkeepers, Barnehurst bookkeepers, Coldblow bookkeepers, Wilmington bookkeepers, Leyton Cross bookkeepers, Slade Green bookkeepers, Crayford bookkeepers, Chislehurst bookkeepers, Northumberland Heath bookkeepers, Welling bookkeepers, Sidcup bookkeepers, North Cray bookkeepers, Dartford bookkeepers, Bexleyheath bookkeepers, Hook Green bookkeepers, Albany Park and more. Most of these areas are covered by local bookeepers. Bexley businesses and traders can get prices for bookkeeping services by going
- Bexley Cheap Bookkeeping
- Bexley Payroll Services
- Bexley Tax Preparation
- Bexley Tax Returns
- Bexley Sole Trader Bookkeeping
- Bexley Bookkeeping Services
- Bexley Self-Assessment Bookkeeping
- Bexley Cash Flow Analysis
- Bexley Double-Entry Bookkeeping
- Bexley VAT Returns
- Bexley Small Business Bookkeeping
- Bexley Profit and Loss Analysis
- Bexley Bookkeeping Quotes
- Bexley Credit Control
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Bookkeepers Around Bexley: People who live in these streets and roads have just recently enquired about bookkeeping services - Stedman Close, Danson Road, Bourne Parade, The Ridge, Cranleigh Close, Cross Lane, Baldwyns Road, Ashdown Close, Bridgen Road, Albany Road, Thanet Road, Summerhouse Drive, Bexley High Street, Torbrook Close, Balmoral Gardens, South View Close, Chilham Close, Bladindon Drive, Tile Kiln Lane, Cedar Grove, Blendon Drive, Dartford Road, Bradbourne Road, as well as these local Bexley postcodes: DA14 5EY, DA5 1LU, DA5 1JD, DA5 1BF, DA5 1QU, DA5 1AS, DA5, DA15, DA5 1JN, DA5 1BQ.
Bookkeeping Jobs Bexley: Browse bookkeeping jobs near Bexley by going here: Bookkeeping Jobs Bexley
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Bookkeepers in DA5 area, and dialling code 020.
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