Bookkeepers Birchington-on-Sea Kent (CT7): You're entirely responsible for keeping accurate, "true and fair" accounting and financial records for at least 6 yrs, if you operate an online store, are a sole trader or run a small business in Birchington-on-Sea, according to the Companies Act. You could face disqualification as a Company Director and get a hefty fine, if you're unable to produce these records. There's a large investment of time involved with keeping these financial recordings on your own behalf, and it can be more cost-effective to employ a professional accountant or bookkeeping service, particularly when you consider the fact that according to Accounting Today magazine over forty percent of small business owners spend over eighty hours each year doing their accounts.
If the idea of tracking liabilities and assets, writing ledgers, producing balance sheets or preparing profit, loss and financial statements fills you with a sense of dread, then it is high time to contact a bookkeeper in Birchington-on-Sea for help and advice.
BOOKKEEPER OR ACCOUNTANT?
"Exactly what is the difference between an accountant and a bookkeeper?" Is a question that's asked by most people in Birchington-on-Sea. The reality is that although in the past the process of bookkeeping, was considered beneath the skill-sets, experience and qualifications of an accountant, because of software improvements over the past decade, a lot of accountancy firms in the Birchington-on-Sea area will now consider taking on bookkeeping tasks. To keep their bookkeeping services commensurate with a dedicated bookkeeper's fee, it's now common practice for many accountancy firms to charge a set rate for such services. Business owners in Birchington-on-Sea are now cashing in on this, because it generates a wider range of competition within the industry and can mean that the cost of bookkeeping is much more manageable than it would have been in the past.
When you're thinking about the differences between a bookkeeper and an accountant, the main one is the amount of training that is necessary for each discipline. At least an accounting degree with further training in the field of taxes and other fiscal and business management, will normally be held by an accountant. Whilst having a good grasp of these fiscal disciplines, a bookkeeper in Birchington-on-Sea may not have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER IN BIRCHINGTON-ON-SEA
Put simply, the act of bookkeeping is to record the daily transactions of any enterprise or business in Birchington-on-Sea. This will include, but is not limited to;
- Monthly reconciliations and reporting.
- Payroll services.
- VAT submissions and recording.
- Recording of all financial incomings; card, electronic and cash payments included.
- Billing of customers for goods or work completed.
- Logging invoices received and making sure that payment is completed punctually.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Ensuring double-entry bookkeeping and accounting practices are followed.
If you're prepared to perform most of your bookkeeping work yourself; a bookkeeper may only be needed to double check your records on a fixed schedule. To ensure that any problems or mistakes can be uncovered and rectified speedily, at the bare minimum, this should really be done each month. If you are confident of remaining up-to-date with your daily trading and financial transactions, this trade-off can often be the most cost-effective option.
Whatever your scenario, if you're looking to hire a bookkeeping service it is a good bet that you may be struggling with the financial recording side of your small business in Birchington-on-Sea. A professional bookkeeping service will help you out with everything from stocktaking, generating expense reports and invoicing, to linking the latest software program with your business accounts to seamlessly process all your financial data.
The efficient reconciliation of cash flow with accounts payable is one of the most crucial aspects of a good bookkeeping service. Which means that your bookkeeper will schedule bill payments to a time when your accounts are in good shape and buoyant, instead of paying a bill right away, or waiting on an overdue notice, which many small businesses are guilty of. This doesn't just keep your business enterprise on a good financial footing, but keeps you in favour with suppliers and the businesses who supply you with services. When you're focussed on running your business, this is a juggling act that can be tough to accomplish on your own.
If you are a sole trader, or own a small business, employing a qualified bookkeeper in Birchington-on-Sea, also gives them an opportunity to cast an eagle eye over the financial dealings of your business. It's entirely possible that a nonpartisan assessment such as this will highlight business patterns and trends that have previously been missed. It is not at all unheard of for a keen eyed bookkeeper to flag up an area which is plummeting in profits, or spot a new opportunity that may prove lucrative. For ensuring the growth of any enterprise in Birchington-on-Sea, it is important that these key performance indicators (KPI's) are spotted early.
Having to pursue late payments can be an embarrassing scenario for you, if you send out invoices as part of your business operations. Some of that apprehension can be removed by having a person outside your normal business bubble make that phone call or visit to your client. To help resolve the situation, if you have problems with a persistent late payer, there are legal methods that can be employed by a bookkeeper, so legal proceedings can be avoided.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal bookkeeping requirements if you are a sole trader, are comparatively straightforward and basic. Sole traders are required to keep track of income and expenditure on a monthly basis and keep all invoices and receipts. It is still recommended that you hire the expertise of a bookkeeper, although this may sound easy. Advising you on what genuine business expenses you are able to claim back, a dedicated sole trader bookkeeper in Birchington-on-Sea will look after your financial dealings with HMRC. This may include rent and bills if you work from home, stationery, consumables, advertising and items such as laptops. To learn how to help your business to prosper and grow, speak to your local bookkeeper for more detailed advice.
Some small businesses that operate in niche markets, may need to use a specialist bookkeeper. You will need a bookkeeper in Birchington-on-Sea who is familiar with multi-currency processing, online payment procedures, exchange rate transfers and cross-border and international taxes, if you run a store online for example. Given that the internet doesn't sleep, if that same shop sells goods you produce or hold then supervising inventory on a 24 hours a day basis is a major priority which will need to be dealt with.
A remote virtual office can also be supplied together with bookkeeping services. This allows a sole trader or online only business to have a phone service and postal address to offer a physical connection to their customers. Not all bookkeepers in Birchington-on-Sea will be willing to provide this service, however it is worth talking about the possibilities if it is something that could benefit you.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It is not mandatory for a qualified bookkeeper in Birchington-on-Sea to hold a degree, and many of the bookkeeping qualifications are held at Certificate or Diploma level. If the chosen route to qualification is through further education universities and colleges, this is still a possibility, whereas there there's an ever-increasing array of online bookkeeping courses.
To provide certification and training for bookkeepers, there are basically two key organisations of interest:
The Association of Accounting Technicians or AAT: The Association of Accounting Technicians or AAT provides advanced qualifications and training entitling a fully certified bookkeeper to use the letters AATQB. They then become authorised AAT bookkeepers, backed up by this respected organisation, which assures a minimum standard of service for their customers. To protect the trustworthiness of the AAT membership, if an AAT bookkeeper is found to have broken the code of practice or has a complaint against them, they could be subject to disciplinary and tribunal processes.
The ICB or Institute of Certified Bookkeepers: The ICB or Institute of Certified Bookkeepers is the largest on the planet and supplies certification for qualified bookkeepers, together with reference material and training to keep their members up-to-date.
By visiting their respective websites, you're able to inspect the accreditations of any bookkeeper in Birchington-on-Sea on the register of ICB or AAT members. It is advised to implement this check, before you retain the services of any professional bookkeeper in Birchington-on-Sea.
Bookkeeping services are available in Birchington-on-Sea and also nearby in: Reculver, Minster, Woodchurch, Flete, Westbrook, Grays, St Nicholas at Wade, Margate, Garlinge, Manston, Brooksend, Westgate-on-Sea, Boyden Gate, Acol, Marshside, Gore Street, Monkton, together with these postcodes CT7 0AU, CT7 9HJ, CT7 9LB, CT7 0AF, CT7 9EH, CT7 9EQ, CT7 0EY, CT7 0BW, CT7 9BH, CT7 9HY. Local Birchington-on-Sea Bookkeepers will probably have the postcode CT7 and the phone code 01843. Verifying this will make sure that you access local bookkeepers. Birchington-on-Sea sole traders and business owners will be able to utilise these and countless other related services.
Birchington-on-Sea Bookkeeper Questions
In recent weeks I've been analysing the most commonplace questions people ask in regard to bookkeeping in Birchington-on-Sea. A couple of you have tendered useful queries which are relevant to this discussion. The ones I picked out were, How does bookkeeping help a business in Birchington-on-Sea? What are accountant bookkeepers? How do bookkeeping services work? What are the advantages of a bookkeeper? Why does a bookkeeper prepare a trial balance? How does bookkeeping differ from accounting? How much do bookkeepers charge? Does a bookkeeper need a license? What qualifications does a bookkeeper have? The vast majority of these questions have hopefully been covered on this page, and if some are still to be answered we will be adding a bookkeeping "Questions and Answers" feature quite soon. My thanks go out to these folks for taking the trouble to send in their questions; Ethan Marshall, Remy Kennedy, Eisa Willis and Alexis Briggs. We were also pleased to get relevant enquiries from Riley Herbert in Manston, Jason Wild in Boyden Gate and Brooke Partridge in Garlinge.
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Birchington-on-Sea Bookkeeper Tasks
Most bookkeepers in Birchington-on-Sea will be ready to provide you with the following bookkeeping services: cash flow analysis, wages & PAYE, bank reconciliations Birchington-on-Sea, invoice processing, bookkeeping for organisations Birchington-on-Sea, bookkeeping for the self-employed, QUOTE FORM provided. We will be in touch with information as soon as we are able.in Birchington-on-Sea, Quickbook bookkeeping, VAT returns, maintaining fixed asset registers Birchington-on-Sea, Sage bookkeeping Birchington-on-Sea, bookkeeping for home-based businesses Birchington-on-Sea, bookkeeping estimates, general bookkeeping services, bookkeeping services for retail outlets, charity bookkeeping Birchington-on-Sea, small business bookkeeping, Self-Assessment tax returns, bookkeeping for payroll, landlord bookkeeping Birchington-on-Sea, bookkeeping for tradesmen, bookkeeping for charities, bookkeeping for small business, double-entry bookkeeping Birchington-on-Sea, mobile bookkeeping services, tax return preparation, independent bookkeeping services, payment services, bookkeeping services Birchington-on-Sea, tax returns, and more. These are just a handful of the tasks that are handled by local bookkeepers. Birchington-on-Sea professionals will be delighted to keep you abreast of their full range of services. If there happen to be additional Birchington-on-Sea bookkeeper requirements that you need but can't see here, you should mention them on the
Bookkeepers Near Birchington-on-Sea
Also here.: Minster bookkeepers, Garlinge bookkeepers, Manston bookkeepers, Monkton bookkeepers, Reculver bookkeepers, Margate bookkeepers, Woodchurch bookkeepers, Acol bookkeepers, Brooksend bookkeepers, St Nicholas at Wade bookkeepers, Marshside bookkeepers, Westbrook bookkeepers, Boyden Gate bookkeepers, Grays bookkeepers, Gore Street bookkeepers, Flete bookkeepers, Westgate-on-Sea and more. All these villages and towns are serviced by local bookeepers. Birchington-on-Sea businesses and traders can get pricing for bookkeeping services by clicking
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Bookkeepers Around Birchington-on-Sea: People who live in these nearby Birchington-on-Sea areas and roads have just recently inquired about bookkeeping services - Birch Hill Court, Nottingham Road, Arthur Road, Nasmyth Road, Sussex Gardens, Anna Park, Horsa Road, Albion Road, Minnis Road, The Square, Hawkhurst Close, Farrar Road, Epple Bay Avenue, Surrey Gardens, Charlesworth Drive, Rossetti Road, Green Road, Wilkie Road, Crescent Road, Station Approach, Duncan Drive, Epple Road, King's Avenue, Miles Way, Newbury Close, as well as the following Birchington-on-Sea area postcodes: CT7 0AU, CT7 9HJ, CT7 9LB, CT7 0AF, CT7 9EH, CT7 9EQ, CT7 0EY, CT7 0BW, CT7 9BH, CT7 9HY.
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Bookkeepers in CT7 area, phone code 01843.
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