Bookkeepers Brighton East Sussex (BN1): For anybody in Brighton who runs an online store, owns a small business or acts as a sole trader, it is their sole responsibility to keep "true and fair", accurate accounting and financial records for a minimum of 6 yrs. This is laid out by the Companies Act. If you cannot produce such records, you might be disqualified as a Company Director and face a hefty fine. According to Accounting Today magazine over 40% of small businesses spend eighty hours plus every year on their accounts, so whilst you can carry out these financial recordings on your own behalf, it is often better to use a professional accountant or bookkeeping company to do them instead.
The time has come to contact a bookkeeper in Brighton for help and advice, if the very thought of preparing profit, loss and fiscal reports, producing balance sheets, writing ledgers or tracking liabilities and assets fills you with terror.
BOOKKEEPER OR ACCOUNTANT?
"Just what is the difference between a bookkeeper and an accountant?" Is a question which is asked by many small business owners in Brighton. The reality is that whilst at one time the bookkeeping process, was considered beneath the qualifications, skill-sets and experience of an accountant, because of software improvements over the past ten years or so, a lot of accountancy companies in Brighton will now take on bookkeeping tasks. To keep their bookkeeping services consistent with an independent bookkeeper's fee, it is now common practice for many accounting firms to have a set fee for such services. As it offers a wider variety of competition within the marketplace, this is great news for small businesses in Brighton, making the cost of their bookkeeping much more affordable than it was previously.
The main difference of an accountant over a bookkeeper is the standard of training and qualification required. At least a degree in accounting with additional training in the field of taxation and other fiscal and business management, will usually be held by an accountant. A bookkeeper in Brighton will undoubtedly have a fair grasp of these procedures, but might not necessarily hold the qualifications or levels of training and experience.
RESPONSIBILITIES OF A BOOKKEEPER IN BRIGHTON
Put simply, the act of bookkeeping is the recording of the daily monetary transactions of any business enterprise in Brighton. This will likely include, but is in no way limited to;
- Logging the receipt of invoices and making certain payment is completed promptly.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- Ensuring accounting and double-entry bookkeeping practices are followed at all times.
- Payroll services.
- Monthly reconciliations and reporting.
- Documenting of all financial incomings; including cash, electronic and card payments.
- VAT submissions and recording.
- The billing of clients for goods or work completed.
If you're happy to carry out a large majority of bookkeeping work yourself; a bookkeeper might only be necessary for double-checking your figures every once in a while. This ought to be done from month to month at the bare minimum, as this allows for any problems or mistakes to be detected and amended promptly. If you're confident of remaining in control of your daily trading and financial transactions, this trade-off can often be the most economical solution.
Whatever your situation, if you're thinking of hiring a bookkeeping firm it is a good bet that you might be having problems with the financial recording side of your business in Brighton. Offering advice and guidance on everything from preparing expense reports, invoicing and stocktaking, a good bookkeeping company will also be able to walk you through the process of linking your business accounts with the latest computer software to enable the seamless processing of your business's data.
Being able to reconcile accounts payable with cash flow, is an extremely important element of a good bookkeeper. This means that your bookkeeper will prioritise bill payments to times when your accounts are buoyant and in good shape, rather than paying a bill right away, or waiting for a final notice, which many small businesses are guilty of doing. This doesn't just keep your business enterprise on a sound financial footing, but keeps you in good stead with suppliers and the businesses who supply services to you. This is just one of those balancing acts that can be challenging to perform when you are primarily focussed on the streamlined running of your day to day business activities.
Using a qualified bookkeeper in Brighton, for your small business or if you are a sole trader also gives them an opportunity to cast an unbiased eye over your business. It is quite possible that a dispassionate appraisal like this will showcase business patterns and trends that have previously been missed. It's not at all uncommon for a keen eyed bookkeeper to flag up an area of the business which is dropping off in profits, or spot a new opportunity that could be lucrative. Spotting these KPI's (key performance indicators) is crucial for the long-term growth of any business enterprise in Brighton.
If invoices are sent out by your company it can often be uncomfortable having to pursue a late payment. Some of that apprehension can be taken away by having a person outside your business situation make that phone call or visit to your customers. If you have problems with a consistent late payer there are legal solutions that a professional bookkeeper can use to help to clear up the issue before the situation winds up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal requirements for bookkeeping if you are a sole trader, are relatively straightforward and basic. It's stipulated that a sole trader must track expenditure and income on a monthly basis and keep all invoices and receipts. Now, this doesn't seem too tough does it? However, it's still recommended that you retain the expertise of a bookkeeper to make certain that it is all done right. When dealing with your income tax returns, a specialist sole trader bookkeeper in Brighton will be able to advise you on what your legitimate business expenses are, and claim these back from HMRC each year. This could include promotional advertising, printer ink, items such as laptops, stationery and bills and rent if working from home. To see how they can help your small business grow, talk to your local bookkeeper for more comprehensive guidance and advice.
BOOKKEEPING FOR ONLINE TRADERS IN BRIGHTON
There are certain niches in bookkeeping where the skills of a specialist may be necessary. For instance, if you run a store online, you'll be better off employing a bookkeeper in Brighton who understands online payment procedures, cross-border and international taxes, exchange rate transfers and multi-currency processing. If you hold or produce the goods that you sell on that outlet, then it will be a crucial concern for your bookkeeping services and software to control your your inventory on a 24 hours a day basis, since the internet doesn't sleep.
It is also possible to provide a remote virtual office, that can be used in conjunction with your bookkeeping service. This is beneficial in enabling an online only business or sole trader to have a phone service and postal address to provide a physical link with their client base. If this kind of service could be helpful, it's definitely worth discussing, although this solution won't be supplied by all Brighton bookkeeping businesses.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified Brighton bookkeeper needn't have a university degree and a lot of the industry qualifications are at Certificate or Diploma level. Bookkeeping qualifications can be gained via further education colleges and universities but there's also a variety of courses available online.
There are 2 principal certification and training organisations representing bookkeepers:
The AAT (Association of Accounting Technicians): Able to use the letters AATQB, a certified member of the AAT or Association of Accounting Technicians will have undergone a training schedule and advanced qualifications in bookkeeping. This assures a decent standard of service to their clients which is backed by the association, and permits them to become a licensed AAT bookkeeper. To safeguard the credibility of the AAT, an AAT bookkeeper can be liable to disciplinary and tribunal processes if it is found that they have breached the code of conduct or have had a complaint against them.
The Institute of Certified Bookkeepers or ICB: Providing certification for qualified bookkeepers, in addition to training and reference material to keep their associated members up-to-date with the latest trends and developments, the ICB or Institute of Certified Bookkeepers is the largest organisation on the planet.
By viewing the register of ICB or ATT members on their websites, it is possible to examine the qualifications of any bookkeeper in Brighton. It is wise to carry out this check, before using the services of any professional bookkeeper in Brighton.
Bookkeeping services are available in Brighton and also nearby in: Bevendean, Rottingdean, Kemp Town, Preston, Shoreham-by-Sea, Saltdean, Portslade, Southwick, Patcham, Falmer, Peacehaven, Moulescoomb, Hove, Withdean, Lancing, Stanmer, as well as in these postcodes BN1 1HQ, BN1 2AS, BN1 1UA, BN1 1HR, BN1 2EA, BN1 1HY, BN1 1AB, BN1 1PG, BN1 1UT, BN1 1NA. Locally based Brighton bookkeeper services will likely have the postcode BN1 and the telephone code 01273. Verifying this can ensure you are accessing local bookkeepers. Brighton sole traders and business owners can benefit from these and countless other similar services.
Bookkeeping Brighton - Outsourcing Options
All businesses in Brighton should understand the significance of bookkeeping. It helps business people monitor the money left in the bank account, the sum total of their assets and liabilities, their payables/receivables, and more. With the owner of the business having to deal with the concerns and issues of operating a business, the task of carrying out the bookkeeping is often outsourced to a bookkeeping company or freelance bookkeepers in Brighton.
If a company in Brighton hires a bookkeeper in order to join their ranks, the company will need to spend a substantial amount of money in training the person for the purpose of doing the bookkeeping tasks. In addition to that, there is no guarantee that he or she will stay for long in the company. In that case, the company stands to lose a considerable amount of money. Apart from that, businesses will have to look for ways and means to provide benefits and incentives to keep the employee there. These are a few of the reasons behind business organisations enlisting the services of bookkeeping companies and professional bookkeepers in Brighton.
The business owner in Brighton can look for the following options with the bookkeeping company that offer outsourcing services. Check and find out how much savings he can enjoy by outsourcing the bookkeeping work. Since the expenses related to hiring and training the in-house staff is a great concern, it would be wise on the part of business owner to focus on an outsourcing company that can offer good savings. Try to get first hand information regarding the systems and methods employed by the company involved in bookkeeping services. It is very much important to get quality accounting services and greater security for your financial data. By quality, one means reliable, precise, and real-time bookkeeping data delivered within the set time. In short, the company that offers bookkeeping services in Brighton should have a well protected system that can be relied on and trusted.
These professional bookkeeping companies in Brighton should be able to customise their bookkeeping services with that of the client company's existing bookkeeping system. They should be able to ask for assistance from these bookkeepers as and when they need the required back-up and support.
Brighton Bookkeeper Questions
Over the last couple of days I have been having a good look at the popular questions folks in Brighton ask on the subject of bookkeepers. Some of our visitors have tendered understandable queries that I thought might be applicable to this discussion. The most pertinent ones appeared to be, Who would a bookkeeper work with? How can I get bookkeeper in Brighton? Does a bookkeeper need a license? How is bookkeeping different from accounting? What are the advantages of a bookkeeper? What do bookkeeping services include? Do bookkeepers do journal entry? Why is bookkeeping important for a small business? How much should bookkeeping cost? We hope most of these queries have been covered on this webpage, and if that is not the case a bookkeeping "Questions and Answers" feature is at present being developed. Our thanks go to Adam Jackson, Rufus Burns, Rueben Hardy and Molly Law, for making the effort to present these questions. Queries were also put forward by Camila Spence in Shoreham-by-Sea, Silas Bullock in Saltdean and Emery Foley in Preston.
Brighton Bookkeeper Tasks
Most Brighton bookkeepers will be able to provide you with the following bookkeeping and accounting services: invoice processing, charity bookkeeping Brighton, independent bookkeeping services, mobile bookkeeping services, bookkeeping for limited companies, QUOTE FORM provided. We will get back to you with specifics as soon as we can., tax preparation, personal tax returns Brighton, bookkeeping services for retail outlets Brighton, bookkeeping services for clubs in Brighton, off-site bookkeeping services, Quickbook bookkeeping, credit control in Brighton, corporation tax returns in Brighton, bookkeeping for payroll Brighton, management reports, Kashflow bookkeeping in Brighton, double-entry bookkeeping, Sage bookkeeping services Brighton, bookkeeping services for tradesmen Brighton, bookkeeping services, Self-Assessment tax returns Brighton, bookkeeping services for shops, bank reconciliation, Xero bookkeeping services in Brighton, profit & loss reports, bookkeeping price quotes in Brighton, bookkeeping for small businesses Brighton, bookkeeping for the self-employed, tax returns, and more. These are just some of the activities that are performed by local bookkeepers. Brighton providers will be happy to tell you about their entire range of services. If there are different Brighton bookkeeper requirements that you need but can't see here, you can mention them on the
Bookkeepers Near Brighton
Also here.: Peacehaven bookkeepers, Kemp Town bookkeepers, Stanmer bookkeepers, Lancing bookkeepers, Patcham bookkeepers, Saltdean bookkeepers, Withdean bookkeepers, Rottingdean bookkeepers, Preston bookkeepers, Southwick bookkeepers, Hove bookkeepers, Bevendean bookkeepers, Moulescoomb bookkeepers, Falmer bookkeepers, Shoreham-by-Sea bookkeepers, Portslade and more. All these villages and towns are covered by local bookeepers. Brighton residents can get rates for bookkeeping services by going
- Brighton Profit and Loss Analysis
- Brighton VAT Returns
- Brighton Tax Preparation
- Brighton Bookkeeping Estimates
- Brighton Double-Entry Bookkeeping
- Brighton Accountancy Packages
- Brighton Wages and PAYE
- Brighton Cash Flow Analysis
- Brighton Small Business Bookkeeping
- Brighton Self-Assessment Bookkeeping
- Brighton Tax Returns
- Brighton Credit Control
- Brighton Cheap Bookkeeping
- Brighton Sole Trader Bookkeeping
Bookkeepers Around Brighton: People who live in these nearby Brighton areas and roads have recently inquired about bookkeeping services - The Rise, Bembridge Street, Treetops Close, Brambletyne Avenue, St Helens Road, Tongdean Rise, Brangwyn Crescent, Thompson Road, Denton Drive, Beaufort Terrace, Surrenden Park, Sillwood Road, Boundary Road, Chelwood Close, Cotswold Place, Duke Street, Sillwood Place, Anstey Close, Bazehill Road, Tidy Street, Batemans Road, Basin Road North, Bishopstone Drive, Bristol Street, College Terrace, Selhurst Road, Carlton Terrace, Tower Gate, Springate Road, Ditchling Road, as well as the following local Brighton postcodes: BN1 1HQ, BN1 2AS, BN1 1UA, BN1 1HR, BN1 2EA, BN1 1HY, BN1 1AB, BN1 1PG, BN1 1UT, BN1 1NA.
More East Sussex Bookkeepers: More Crowborough, Hove, Uckfield, Telscombe, Bexhill-on-Sea, Wadhurst, Newhaven, Portslade, Ore, Hastings, Heathfield, Westham, Willingdon, Peacehaven, Brighton, Lewes, Seaford, Eastbourne, Ringmer, Battle, Polegate, Rye, Hailsham and Forest Row.:
If you're interested in local Brighton information click here
Bookkeepers in BN1 area, 01273.
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