Bookkeepers Billericay Essex (CM11): As stated by the 2006 Companies Act, if you are a sole trader, own a small business or operate an online store in Billericay, you are responsible for keeping accurate, "true and fair" financial and accounting records for at least six years. If you can't produce such records, you could be disqualified as a Company Director and face a hefty fine. You can do these financial recordings yourself, but when you think about the fact that according to the trade magazine Accounting Today over 40% of small businesses spend at least eighty hours each year on their bookkeeping activities, it can be more economical to use a professional bookkeeper or accountant.
If just the thought of compiling balance sheets, creating profit, loss and fiscal reports, tracking assets and liabilities or filling out ledgers brings you feelings of dread, then it is time to contact a bookkeeper in Billericay for guidance.
BOOKKEEPER OR ACCOUNTANT?
A common query that's asked by many business owners in Billericay is "What is the difference between a bookkeeper and an accountant?" The truth is that while at one time the process of bookkeeping, was deemed beneath the experience, qualifications and skill-sets of an accountant, due to massive software improvements over the past ten years or so, many accountancy companies in the Billericay area will now undertake bookkeeping tasks. It's fairly common for accounting companies to charge a set fee for bookkeeping services consistent with a dedicated bookkeeper's fee. Business owners are now benefiting from this, as it provides a greater variety of competition within the marketplace and can make the cost of bookkeeping more manageable than it would previously have been.
It is essentially the standard of training that is necessary for each of these disciplines, that illustrates the main difference between an accountant and a bookkeeper in Billericay. An accountant will, at the very least, hold a degree in accounting, and should have also had specialist training in business and financial management, and taxes. A bookkeeper in Billericay might not have the same levels of experience and training, or hold these qualifications, but will still have a fair grasp of such disciplines.
RESPONSIBILITIES OF A BOOKKEEPER IN BILLERICAY
The act of bookkeeping put simply, is to record the daily transactions of any business in Billericay. This can include, but isn't limited to;
- Logging the receipt of invoices and making sure that payment is completed promptly.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- Payroll services.
- VAT recording and submissions.
- Monthly reporting and reconciliation.
- Documenting of all financial incomings; electronic, cash and card payments included.
- The billing of clients for goods or work completed.
- Making sure that accounting and double-entry bookkeeping practices are followed.
Contingent upon service level you require, a bookkeeper may only be needed to double check your accounts every so often, if you're in a position to undertake the majority of your own bookkeeping work. As a bare minimum this should be every month, to facilitate the swift detection and rectification of any problems or mistakes. If you're confident of keeping on top of your day by day financial transactions and trading activities, this trade-off can often be the most economical.
It's a good bet that if you are looking at hiring a bookkeeping company, you're currently struggling with the financial recording aspects of your business in Billericay. A professional bookkeeping service will be able to offer advice on everything from stocktaking, generating expense reports and invoicing, to linking the most suitable computer software with your business accounts to enable the seamless pull-through of transactional data.
The ability to reconcile cash flow with accounts payable, is an extremely important element of good bookkeeping. This means that instead of paying off a bill immediately, or waiting on a final notice, which many small businesses are guilty of doing, your bookkeeper will optimise the payment of bills to a time when your finances are buoyant and in good shape. Along with keeping your enterprise or business financially stable, this also keeps you in the good books of your suppliers and service providers. This is just one of those juggling acts that can be tough to accomplish when you're purely focussed on the smooth running of your everyday business operations.
Having someone who's not connected to the business cast an eye over your financial affairs, is another added benefit of using a competent bookkeeper in Billericay if you are a sole trader, or for your small business. It may be that business trends and patterns that might have gone unnoticed will therefore be brought to the fore. It is not unusual for a bookkeeper to spot a new opportunity or flag up an area of the business where profits are dropping. These key performance indicators (KPI's) are important in driving growth for any business in Billericay.
Pursuing a late payment can be an awkward scenario for you, if you give out invoices in your business operations. If that phone call or visit to your clients is carried out by an individual from outside your business bubble, it is possible for most of that awkwardness to be taken away. If you have a persistent late or non-payer there are legal strategies that a bookkeeper can use to help to clear up the issue before the matter ends up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The bookkeeping requirements for a sole trader, as laid out by law, are relatively straightforward and easily understood. Sole traders are required to track income and expenditure on a month by month basis and keep all receipts and invoices. It's still recommended that you retain the expert services of a competent bookkeeper, although this may sound easy. Offering advice on what genuine business expenses you might be able to claim back, a professional sole trader bookkeeper in Billericay will look after your dealings with HMRC. This might include promotional advertising, stationery goods, printer ink, rent and bills if you work from home and items such as laptops. To learn how they can help your small business to grow, talk to a trusted bookkeeper for more detailed advice and guidance.
BOOKKEEPING FOR ONLINE TRADERS
There are some business niches where a specialist bookkeeping service could be needed. For instance, if you run an online store, you'll be better off employing a bookkeeper in Billericay who is familiar with multi-currency processing, online payment procedures, cross-border and international taxes and exchange rate transfers. If that same outlet sells goods that you hold or produce, then overseeing stock on a 24 hours a day basis is a vital priority, as I'm sure you will appreciate the internet never sleeps, therefore nor should your bookkeeping software or services.
A remote virtual office can also be supplied in conjunction with bookkeeping service. This allows an online only business or sole trader to provide a physical connection to their clients, via a postal address and phone service. Although this option may not be offered by all bookkeeping businesses in Billericay, it's definitely worth a discussion if this is something that is required.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified Billericay bookkeeper needn't have a university degree and many qualifications in this field are at Diploma and Certificate level. If the preferred route to qualification is through further education colleges and universities, this is still a possibility, although there there are a choice of online bookkeeping courses.
Training and certification for bookkeepers is mostly provided by two key organisations:
The Association of Accounting Technicians (AAT): With fully certified bookkeepers entitled to use the letters AATQB, the AAT or Association of Accounting Technicians provides a training schedule with advanced qualifications. This assures a certain level of service to their clients which is backed by the association, and allows them to become a registered AAT bookkeeper. To safeguard the integrity and values of the AAT membership, if a bookkeeper who is associated with the AAT is found to have breached the code of conduct or has a complaint filed against them, they may be subject to disciplinary and tribunal procedures.
The Institute of Certified Bookkeepers (ICB): The ICB or Institute of Certified Bookkeepers is the largest on the planet and supplies accreditation to certified bookkeepers, in addition to training and reference material to keep their associated members informed about the latest trends and innovations.
By visiting their websites, you can check the register of ICB or ATT members, to verify the qualifications of any professional bookkeeper. Before you hire the services of any professional bookkeeper in Billericay it is advisable to implement this check.
Bookkeeping services are available in Billericay and also nearby in: Stock, West Hanningfield, Mountnessing, Ramsden Heath, Crays Hill, Hutton, Ingrave, Little Burstead, Ramsden Bellhouse, Herongate, Great Burstead, as well as in these postcodes CM11 2EP, CM11 1DF, CM11 2DL, CM11 2HZ, CM11 2AP, CM11 2BS, CM11 1DE, CM11 1DD, CM11 2DH, CM11 1BS. Locally based Billericay Bookkeepers will most likely have the phone code 01277 and the postcode CM11. Verifying this can ensure you access local bookkeepers. Billericay sole traders and business owners can utilise these and lots of other bookkeeping related services.
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Bookkeeping Enquiries Essex
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Billericay Bookkeeper Tasks
Most bookkeepers in Billericay will be prepared to provide you with the following bookkeeping services: bookkeeping services for societies, bookkeeping for freelancers, Xero bookkeeping services Billericay, off-site bookkeeping services, payment services Billericay, cash flow analysis, accountancy packages, landlord bookkeeping Billericay, QUOTE FORM provided. We'll be in touch with information just as soon as we can., bookkeeping for pubs, professional bookkeeping services, bookkeeping for organisations, bookkeeping for charities, mobile bookkeeping services in Billericay, Quickbook bookkeeping services, bookkeeping for restaurants in Billericay, bookkeeping for limited companies, bookkeeping and accounting services, bookkeeping services for tradesmen, maintaining fixed asset registers, Billericay, Self-Assessment tax returns, bookkeeping services for self-employed, company cash books, bookkeeping prices, VAT returns, independent bookkeeping services Billericay, bookkeeping services for sole traders, and more. These are just a few of the duties that are handled by local bookkeepers. Billericay providers will be happy to tell you about their entire range of bookkeeping services. If there happen to be additional Billericay bookkeeper requirements that you want but cannot see here, you can easily list them on the
Bookkeepers Near Billericay
Also here.: Ingrave bookkeepers, Little Burstead bookkeepers, Herongate bookkeepers, Mountnessing bookkeepers, Crays Hill bookkeepers, Ramsden Heath bookkeepers, West Hanningfield bookkeepers, Ramsden Bellhouse bookkeepers, Great Burstead bookkeepers, Stock bookkeepers, Hutton and more. All of these towns and villages are catered for by local bookeepers. Billericay residents can get rates for bookkeeping services by clicking
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Bookkeepers Around Billericay: People who live in these nearby Billericay streets have recently enquired about bookkeeping services - Brightside Close, Crawford Close, Crescent Close, St Ediths Lane, Scrub Rise, Beverley Rise, Corner Road, Second Avenue, Carsey Close, Crown Yard, Trumpeter Court, Chapel Street, Springfield Road, Arlington Way, The Meadow Way, Burleigh Close, Coopers Drive, Anvil Way, Chestnut Avenue, St Ediths Court, The Chase, Carlyle Gardens, Dukes Farm Road, Stansted Close, Bluebell Wood, Cranmer Close, as well as these local Billericay postcodes: CM11 2EP, CM11 1DF, CM11 2DL, CM11 2HZ, CM11 2AP, CM11 2BS, CM11 1DE, CM11 1DD, CM11 2DH, CM11 1BS.
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If you're interested in local Billericay information take a look here
Bookkeepers in CM11 area, 01277.
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