Bookkeepers Birkenhead Merseyside (CH41): For anyone in Birkenhead who acts as a sole trader, operates an online store or owns a small business, it's their sole responsibility to maintain "true and fair", accurate accounting and financial records for at least 6 yrs. This is according to the Companies Act (2006). If you're unable to produce this information you might face a fine of thousands of pounds and possible Company Director disqualification. There is a significant time investment involved with compiling these financial recordings on your own, and it is often better to employ a professional accountant or bookkeeper, especially when you consider that according to Accounting Today magazine over 40% of small business owners spend over 80 hours per year on their accounts.
If you are overcome with a sense of terror merely thinking about the possiblility of tracking assets and liabilities, producing balance sheets, writing ledgers or preparing profit, loss and fiscal reports, then the time to contact a bookkeeper in Birkenhead for guidance has arrived.
BOOKKEEPER OR ACCOUNTANT?
What exactly is the distinction between a bookkeeper and an accountant is the first question that a lot of folks in Birkenhead ask. The reality is that while in the past the process of bookkeeping, was deemed beneath the experience, skill-sets and qualifications of an accountant, due to substantial software improvements over the past decade, many accountancy firms in Birkenhead will now take on bookkeeping. Many accountancy firms now charge a flat rate for bookkeeping services, to keep them in line with what a typical bookkeeper in Birkenhead would usually charge. Since it generates a wider variety of competition within this sector, this is great news for small businesses in Birkenhead, making the cost of their bookkeeping much more affordable than it was previously.
It is essentially the amount of training that's needed for each discipline, that illustrates the main difference between an accountant and a bookkeeper in Birkenhead. Generally holding a degree in accounting, a professional accountant will also have had additional training in tax matters and have qualifications in financial and business management. While having a decent understanding of these disciplines, a bookkeeper in Birkenhead might not necessarily have the same levels of training and experience, or hold these qualifications.
A BOOKKEEPER'S RESPONSIBILITIES
In the simplest of terms, bookkeeping involves the logging of daily transactions (financial) of any enterprise or business in Birkenhead. This could include;
- VAT submissions and recording.
- Logging of all financial incomings; including cash, card and electronic payments.
- Payroll services.
- Ensuring accounting and double-entry bookkeeping practices are followed at all times.
- Recording the receipt of invoices and making sure that payment is completed on time.
- Billing of customers for goods or work completed.
- Monthly reconciliations and reports.
- Highlighting any discrepancies in financial accounts and rectifying them.
If you're able to carry out a large majority of bookkeeping work yourself; a bookkeeper might only be necessary for double-checking your figures on a fixed schedule. So that any mistakes or problems can be identified and amended swiftly, as a bare minimum, this ought to be monthly. This trade-off can often be the most affordable compromise if you're able to stay in control of your day by day trading and financial transactions.
Whatever your scenario, if you are thinking of hiring a bookkeeper in Birkenhead, it is a good bet that you may be having problems with the financial recording aspects of your small business. Offering advice and guidance on everything from invoicing, stocktaking and producing expense reports, a good bookkeeping service will also be able to guide you through the process of linking your accounts with the latest computer software to enable the seamless processing of all your business's transaction data.
Being able to reconcile accounts payable with cash flow, is an extremely crucial element of a good bookkeeper. Which means that by scheduling bill payments to a time when your finances are buoyant, your bookkeeper will avoid the thing that a lot of small businesses in Birkenhead are guilty of i.e. paying off a bill right away, or waiting for a final notice. As well as keeping your business on a sound financial footing, this also maintains your reputation with your service providers and suppliers. This is a juggling act that you may find challenging to perform on your own when you are completely focussed on running your company.
If you're a sole trader, or run a small business, using a certified bookkeeper in Birkenhead, also gives them the opportunity to cast a critical eye over the running of your business. It may be that business patterns and trends that you may have overlooked could thus be brought to the fore. A bookkeeper spotting a brand new opportunity or noticing an area where profits are dropping, is by no means uncommon. It is vital for powering growth in any business enterprise in Birkenhead, to spot such KPI's (key performance indicators).
It can sometimes be quite embarrassing to pursue late payments if your company sends out invoices. By having someone outside your business bubble visit your clients or make that phone call, some of that apprehension can be removed. A bookkeeper can make use of legal solutions to take care of a repeating late payer, and without the need for claims court proceedings, help to clear up the matter.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some comparatively basic bookkeeping requirements for sole traders, which are laid out by law. It is stated that sole traders should keep track of income and expenditure on a month by month basis and keep all receipts and invoices. Now, this doesn't sound too hard does it? However, it's still recommended that you hire the services of a bookkeeping company to make sure that it's all done right. Offering advice on what valid business expenses you're able to claim back, a professional sole trader bookkeeper in Birkenhead will deal with HMRC on your behalf. This may include stationery goods, items such as computers, promotional advertising, consumables and rent and bills if you work from home. To learn how they can help your business grow, speak to a trusted bookkeeper for more comprehensive guidance and advice.
Some businesses that operate in niche areas, may need to hire a specialised bookkeeping service. By way of example, if you run a store online, you'll want to employ a bookkeeper in Birkenhead who understands multi-currency processing, international and cross-border taxes, online payments and exchange rate transfers. If you hold or produce the goods that you distribute through that outlet, then it's going to be an important priority for your bookkeeping services and software to monitor your stock on a 24 hours a day basis, because of course, the internet does not sleep.
It is also possible to provide a remote virtual office, that can be utilised together with your bookkeeping services and package. This enables an online only business or sole trader to have a phone service and postal address to provide a physical connection to their customers. It is definitely worth talking about this possibility if it's something that could benefit you, although not all Birkenhead bookkeepers will provide this solution.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A lot of the bookkeeping sector qualifications are at Certificate and Diploma level, and it isn't necessary for a certified bookkeeper in Birkenhead to hold an accounting degree. There's a selection of online courses available, although bookkeeping qualifications can still be obtained through further education universities and colleges.
To provide training and certification for bookkeepers, there are basically 2 primary organisations of interest:
The Association of Accounting Technicians or AAT: Entitled to use the letters AATQB, a fully trained member of the AAT (Association of Accounting Technicians) will have completed advanced qualifications and training in bookkeeping. They then become licensed AAT bookkeepers, approved by this respected organisation, which assures a minimum standard of service for their clients. If an AAT bookkeeper has a complaint against them or is found to have violated the code of conduct they may be subject to disciplinary and tribunal procedures to preserve the values and integrity of the AAT membership.
The ICB or Institute of Certified Bookkeepers: The largest bookkeeping organisation anywhere in the world is the the ICB or Institute of Certified Bookkeepers, and it provides certification for bookkeepers, together with training and reference material to ensure their members are current with the latest trends.
By visiting the register of AAT or ICB members on their websites, you are able to confirm the accreditations of any Birkenhead bookkeeper. It is a good idea to perform this check, before you retain the services of any local bookkeeper in Birkenhead.
Bookkeeping services are available for those living in in Birkenhead and also in: Moreton, Upton, Liscard, Egerton Park, Claughton, Higher Bebington, Seacombe, Oxton, New Ferry, Prenton, Prenton East, Rock Ferry, Woodhey, Thingwall, as well as in these postcodes CH26 9DT, CH32 9EF, CH26 9AS, CH32 9EA, CH30 9BW, CH41 0EG, CH41 0DF, CH41 0AU, CH25 9DR, CH26 9DF. Locally based Birkenhead Bookkeepers will likely have the telephone code 0151 and the postcode CH41. Verifying this should make sure that you are accessing local bookkeepers. Birkenhead sole traders and business owners will be able to utilise these and countless other related services.
Franchise bookkeeping Birkenhead.
Birkenhead Bookkeeper Questions
In the past week or so I have been studying the typical questions that folks in Birkenhead ask regarding bookkeeping. A number of our web visitors have posted some helpful queries which are worth mentioning. The ones which stood out were, Does bookkeeping include payroll? Is bookkeeper and accountant the same? What are the benefits of a bookkeeping services? How much should bookkeeping cost? How do bookkeeping services work? Should a bookkeeper have insurance? Can a bookkeeper be held liable? What makes a good bookkeeper? How does bookkeeping help a business in Birkenhead? Most of these queries hopefully have been covered in the preceding paragraphs, and if that isn't the case we'll be adding a bookkeeping "Q&A" feature quite soon. Our appreciation goes out to the following people in Birkenhead for finding the time to put these excellent questions; Thomas Richards, Francis Fletcher, Prince Hardy and Jayla Brookes. It was also brilliant to get questions from Catherine Brady in Woodhey, Bryce Goodman in Liscard and Claire Humphrey in Thingwall.
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Birkenhead Bookkeeper Tasks
Most Birkenhead bookkeepers will be able to provide you with the following bookkeeping and accounting services: cash flow analysis, bookkeeping services for pubs, bookkeeping for small business in Birkenhead, invoice processing in Birkenhead, cash books, corporation tax returns, charity bookkeeping Birkenhead, profit & loss reports in Birkenhead, independent bookkeeping services, professional bookkeeping services, Self-Assessment tax returns, bookkeeping for charities, accountancy packages Birkenhead, landlord bookkeeping Birkenhead, bookkeeping services Birkenhead, QUOTE FORM provided. We will get back to you with information just as soon as we can.in Birkenhead, bank reconciliation, bookkeeping services for restaurants, bookkeeping for limited companies in Birkenhead, bookkeeping price quotes Birkenhead, general bookkeeping services in Birkenhead, off-site bookkeeping, Kashflow bookkeeping services, management accounts in Birkenhead, bookkeeping for organisations Birkenhead, maintaining fixed asset registers in Birkenhead, bookkeeping services for clubs Birkenhead, VAT returns in Birkenhead, and more. Listed are just an example of the duties that are performed by local bookkeepers. Birkenhead providers will keep you informed about their full range of services. If there happen to be additional Birkenhead bookkeeper requirements that you need but cannot see here, you should mention them on the
Bookkeepers Near Birkenhead
Also here.: Seacombe bookkeepers, Higher Bebington bookkeepers, New Ferry bookkeepers, Liscard bookkeepers, Thingwall bookkeepers, Moreton bookkeepers, Claughton bookkeepers, Prenton bookkeepers, Rock Ferry bookkeepers, Upton bookkeepers, Prenton East bookkeepers, Egerton Park bookkeepers, Oxton bookkeepers, Woodhey and more. Most of these villages and towns are served by local bookeepers. Birkenhead businesses and traders can get rates for bookkeeping services by going
- Birkenhead Bookkeeping Quotations
- Birkenhead Sole Trader Bookkeeping
- Birkenhead Profit and Loss Analysis
- Birkenhead Credit Control
- Birkenhead Double-Entry Bookkeeping
- Birkenhead Small Business Bookkeeping
- Birkenhead Tax Returns
- Birkenhead Payroll Services
- Birkenhead Invoice Processing
- Birkenhead PAYE and Wages
- Birkenhead Cash Flow Management
- Birkenhead Tax Preparation
- Birkenhead Bookkeeping Services
- Birkenhead Self-Assessment Bookkeeping
Bookkeepers Around Birkenhead: People living in the following roads and streets have just recently enquired about bookkeeping services - Connaught Way, Craven Street, Conway Drive, Brunswick Court, Ark Royal Way, Bentinck Place, St James Road, Solway Street, Chiltern Road, Cavendish Road, Shakespeare Avenue, Cargill Grove, St Georges Avenue, Cobden Place, St Annes Close, Courtney Road, Cecil Road, Burrell Road, Thistleton Avenue, Briarswood Close, Carlaw Road, Briardale Road, Simpson Street, Aberdeen Street, Cross Street, Astonwood Road, Stanley Road, St Peters Mews, Bankside Road, Burrell Close, as well as the following Birkenhead area postcodes: CH26 9DT, CH32 9EF, CH26 9AS, CH32 9EA, CH30 9BW, CH41 0EG, CH41 0DF, CH41 0AU, CH25 9DR, CH26 9DF.
More Merseyside Bookkeepers: More Liverpool, Haydock, Kirkby, Crosby, Halewood, Bootle, Birkenhead, St Helens, Southport, Newton-le-Willows, Maghull, Bebington, Formby, Prescot, Heswall, Litherland and Wallasey.:
If you want local Birkenhead info click here
Bookkeepers in CH41 area, phone code 0151.
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