Bookkeepers Bognor Regis West Sussex (PO21): For any person in Bognor Regis who acts as a sole trader, owns a small business or runs an online store, it's their sole responsibility to maintain accurate, "true and fair" accounting and financial records for at least 6 yrs. This is according to the 2006 Companies Act. You might face thousands of pounds in fines, and perhaps Company Director disqualification, if you can't produce such information. There's a substantial investment of time involved with compiling such financial recordings yourself, and it's often more cost-effective to employ a professional accountant or bookkeeper, as according to the trade magazine Accounting Today over 40% of small businesses spend at least 80 hours annually on their bookkeeping.
If the thought of preparing profit, loss and fiscal reports, producing balance sheets, filling out ledgers or tracking liabilities and assets fills you with a sense of terror, then it's time to get in touch with a bookkeeper in Bognor Regis for assistance.
BOOKKEEPER OR ACCOUNTANT?
For many small business owners in Bognor Regis, an obvious question when facing this dilemma is "What is the distinction between a bookkeeper and an accountant?" In the old days it was normally deemed to be beneath the experience, skill set and qualifications of an accountant to do the work of a bookkeper, however because of software developments over the past ten years or so, many bookkeeping tasks will now be undertaken by accounting companies in the Bognor Regis area. For many accountancy companies it is now quite common to charge a set fee for bookkeeping services, so that they are in keeping with the usual charges of a typical bookkeeper in Bognor Regis. Business owners are now benefiting from this, since it offers a wider range of competition within this sector and can make the cost of bookkeeping much more affordable than it would previously have been.
It is essentially the amount of qualification and training that's needed for each discipline, that demonstrates the biggest difference between an accountant and a bookkeeper in Bognor Regis. Typically holding a degree in accounting, a professional accountant will also have had further training in tax law and have qualifications in financial and business management. While possibly not holding the same financial qualifications, or having this level of experience and training, a bookkeeper in Bognor Regis will undoubtedly have a fair grasp of all such skills.
RESPONSIBILITIES OF A BOOKKEEPER
The bookkeeping process in simple terms, is to record the day to day monetary transactions of any enterprise or business in Bognor Regis. This may include;
- Documenting invoices received and ensuring payment is completed on time.
- Monthly reports and reconciliation.
- Ensuring accounting and double-entry bookkeeping practices are followed at all times.
- Billing of customers for goods or work completed.
- VAT recording and submissions.
- Payroll services.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- Logging of all financial incomings; cash, electronic and card payments included.
Contingent upon service level you require, a professional bookkeeper may just be needed to periodically double-check your figures, if you are in a position to do the bulk of your own bookkeeping work. So any mistakes or problems can be found and amended speedily, at the bare minimum, this ought to be done monthly. This trade-off can often be the most economical if you're confident of keeping on top of your day by day trading and financial transactions.
It's fairly likely that if you are looking to hire a bookkeeping service in Bognor Regis, you are currently getting stressed about the financial recording side of your small business. To enable the seamless sorting of financial data, a decent bookkeeping company will help you to link the most suitable software to your accounts, and will offer advice and guidance on such things as stocktaking, invoicing and generating expense reports.
An extremely crucial aspect of a good bookkeeper is the ability to reconcile accounts payable with cash flow. Which means that rather than waiting for a final notice, which many small businesses in Bognor Regis are guilty of at some time or other, or paying a bill right away, your bookkeeper will arrange the payment of bills to a time when your finances are in good shape and buoyant. This not only keeps your business enterprise on a good financial footing, but keeps you in good stead with suppliers and those people who provide you with services. When you are inevitably focussed on running your company, this is a juggling act that can be tricky to perform as an individual.
Having an individual who isn't affiliated with the business cast an impartial eye over your financial transactions, is another advantage of employing an experienced bookkeeper in Bognor Regis if you are a sole trader, or for your small business. It could be that business trends and patterns that you have overlooked will thus be brought to the fore. It isn't unusual for a bookkeeper to recognise an opportunity or flag up an area of the business which is dropping off in profits. For the economic growth of any enterprise in Bognor Regis, it is vital that these key performance indicators are spotted as early as possible.
If invoices are sent out by your business it can often be awkward to pursue late payments. By having someone outside your business situation make that telephone call or visit to your clients, some of that embarrassment can be taken away. If you're troubled with a repeating late or non-payer there are legal techniques that a professional bookkeeper can use to help to clear up the issue before the matter winds up in a claims court.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The requirements for bookkeeping by a sole trader, as laid out by law, are fairly straightforward and easily understandable. A sole trader is required to monitor income and expenditure on a month by month basis and retain all receipts and invoices. Now, this does not sound too tough does it? Yet, it's still a wise move to retain the services of a bookkeeper to make certain that it is all done correctly. A specialist sole trader bookkeeper in Bognor Regis will be able to give you advice on what you are able to claim back from HMRC as legitimate business expenses. This might include stationery goods, items such as computing equipment, consumables, advertising and bills and rent if you work from home. Chat to a trusted bookkeeper for more in-depth advice and discover how they may be able to help your small business to grow.
Some businesses that operate in niche areas, might need to employ a specialist bookkeeper. If cross-border and international taxes, online payment procedures, exchange rate transfers and multi-currency processing are involved, for instance if you manage a store online, you'll want to hire a bookkeeper in Bognor Regis who understands these operations. If that same store sells goods that you hold or produce, then keeping track of your stock on a 24/7 basis is a crucial concern, as I'm sure you will realise the internet doesn't sleep, so nor should your bookkeeping software or services.
A remote virtual office can also be provided in combination with your bookkeeping services. This enables a sole trader or online only business to provide a physical connection to their clients, via a phone service and postal address. Although this solution might not be provided by all Bognor Regis bookkeeping businesses, it is certainly worth talking about the possibilities if this service is something that is required.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the bookkeeping industry are at Certificate and Diploma level, and a professional Bognor Regis bookkeeper doesn't need to have a degree. Qualifications can be obtained through further education universities and colleges but there's also an ever-increasing number of courses available online.
There are essentially two principal organisations that offer certification and training to bookkeepers:
The AAT (Association of Accounting Technicians): Able to use the letters AATQB after their name, a fully trained member of the Association of Accounting Technicians (AAT) will have undergone advanced qualifications and training in bookkeeping. This assures a decent level of service to their customers which is backed up by the association, and allows them to become a accredited AAT bookkeeper. AAT bookkeepers can can be subject to tribunal and disciplinary processes if a complaint is made against them or they are found to have contravened the code of conduct. This helps to protect the integrity and values of AAT membership.
The Institute of Certified Bookkeepers (ICB): The Institute of Certified Bookkeepers (ICB) is the largest on the planet and supplies accreditation to qualified bookkeepers, together with reference material and training to keep their members up-to-date.
By viewing the register of ICB or ATT members on their respective websites, you're able to determine the accreditations of any professional bookkeeper. It is a good idea to implement this check, before you use the services of any professional bookkeeper in Bognor Regis.
Bookkeeping services are available in Bognor Regis and also in nearby places like: Aldwick, Chichester, Flansham, Aldingbourne, Eastergate, Woodgate, Ancton, Middleton on Sea, North Bersted, Bilsham, Whyke, Barnham, Felpham, Yapton, North Mundham, Pagham, Shripney, as well as in these postcodes PO21 1BG, PO21 1LS, PO20 1NA, PO21 1EA, PO21 1EE, PO21 1BX, PO21, PO21 1LP, PO21 1EX, PO21 1HB. Local Bognor Regis Bookkeepers will likely have the postcode PO21 and the dialling code 01243. Verifying this can ensure you are accessing local bookkeepers. Bognor Regis sole traders and business owners can benefit from these and various other bookkeeping related services.
Bognor Regis Bookkeeper Tasks
Most Bognor Regis bookkeepers will be prepared to offer you the following services: Sage bookkeeping, off-site bookkeeping services, professional bookkeeping services, bookkeeping for charities in Bognor Regis, credit control in Bognor Regis, bookkeeping for the self-employed, double-entry bookkeeping Bognor Regis, management accounts in Bognor Regis, bookkeeping for tradesmen in Bognor Regis, payment services, PAYE & wages, bookkeeping for limited companies, bookkeeping services for organisations, bookkeeping for home-based businesses Bognor Regis, bank reconciliations, cash flow analysis, tax preparation, VAT returns Bognor Regis, bookkeeping quotes, accountancy packages, small business bookkeeping, independent bookkeeping services, cheap bookkeeping services, bookkeeping for freelancers, management reports, bookkeeping services for pubs, and more. Listed are just some of the duties that are accomplished by local bookkeepers. Bognor Regis providers will inform you of their full range of bookkeeping services. If there are some other Bognor Regis bookkeeper requirements that you want but don't see here, you should mention them on the QUOTE FORM provided. We'll get back to you with information just as soon as we can.
Bookkeepers Near Bognor Regis
Also here.: North Mundham bookkeepers, Bilsham bookkeepers, Middleton on Sea bookkeepers, Barnham bookkeepers, North Bersted bookkeepers, Woodgate bookkeepers, Aldwick bookkeepers, Felpham bookkeepers, Yapton bookkeepers, Eastergate bookkeepers, Ancton bookkeepers, Chichester bookkeepers, Flansham bookkeepers, Aldingbourne bookkeepers, Pagham bookkeepers, Shripney bookkeepers, Whyke and more. All these villages and towns are served by local bookeepers. Bognor Regis businesses and traders can get quotes for bookkeeping services by going
- Bognor Regis Cash Flow Analysis
- Bognor Regis VAT Returns
- Bognor Regis Profit and Loss Reporting
- Bognor Regis PAYE and Wages
- Bognor Regis Tax Preparation
- Bognor Regis Small Business Bookkeeping
- Bognor Regis Tax Returns
- Bognor Regis Cheap Bookkeeping
- Bognor Regis Self-Assessment Bookkeeping
- Bognor Regis Bank Reconciliations
- Bognor Regis Sole Trader Bookkeeping
- Bognor Regis Bookkeeping Quotations
- Bognor Regis Bookkeeping Services
- Bognor Regis Double-Entry Bookkeeping
More Bognor Regis Services: Obviously, whenever you are in need of a bookkeeper in Bognor Regis, West Sussex, you are likely to be in need of all kinds of different services and aside from card processing in Bognor Regis, an accountant in Bognor Regis, social media marketing in Bognor Regis, EPOS in Bognor Regis, hosting & cloud services in Bognor Regis, Ecommerce assistance in Bognor Regis, business consulting in Bognor Regis, web design in Bognor Regis, telephone system services in Bognor Regis, digital marketing services in Bognor Regis, a marketing agency in Bognor Regis, network, database & IT support in Bognor Regis, telemarketing in Bognor Regis, HR consulting in Bognor Regis, pay per click advertising in Bognor Regis, promotional video production in Bognor Regis, financial advice in Bognor Regis, and other different Bognor Regis specialists.in Bognor Regis, West Sussex, you could also need
Bookkeepers Around Bognor Regis: People who live in these nearby Bognor Regis roads and streets have recently requested bookkeeping services - Syke Cluan Close, Tryndel Way, Chesswood Avenue, South Way, Sefter Road, Bedford Street, Templesheen Road, Dukes Meadow, Southover Road, Sandymount Close, Downview Road, St Anthonys Walk, The Drive, Bramley Gardens, Blakes Road, Churchill Walk, Trendle Green, Birch Close, Town Cross Avenue, Anson Road, Southdown Road, Stable Field, Defiance Place, Durlston Parade, Aspen Way, Stratton Court, Ceres Place, Arundel Way, Servite Close, as well as the following local Bognor Regis postcodes: PO21 1BG, PO21 1LS, PO20 1NA, PO21 1EA, PO21 1EE, PO21 1BX, PO21, PO21 1LP, PO21 1EX, PO21 1HB.
Bookkeeping Jobs Bognor Regis: Find bookkeeping jobs in Bognor Regis by going here: Bognor Regis Bookkeeping Jobs
If you want local info relating to Bognor Regis, West Sussex check here
More West Sussex Bookkeepers: More Crawley, Bognor Regis, Chichester, Southwater, Haywards Heath, Horsham, East Grinstead, Burgess Hill, Southwick, Lancing, Shoreham-by-Sea, Rustington, Worthing, Hurstpierpoint and Littlehampton.:
Bookkeepers in PO21 area, phone code 01243.
Bookkeepers Near Bognor Regis - Bookkeeping Bognor Regis - Small Business Bookkeepers Bognor Regis - Bookkeeper Bognor Regis - Self-Assessment Tax Returns Bognor Regis - Sole Trader Bookkeepers Bognor Regis - Bookkeeping Accountants Bognor Regis - VAT Returns Bognor Regis - Bookkeeping Quotations Bognor Regis