Bookkeepers Burntwood Staffordshire (WS7): You're responsible for keeping accurate, "true and fair" financial and accounting records for at least 6 yrs, if you operate a small business, are a sole trader or run an online store in Burntwood, to comply with the 2006 Companies Act. You could face a fine of thousands of pounds, and perhaps Company Director disqualification, if you can't produce such information. The trade magazine Accounting Today says that over forty percent of small business owners spend at least eighty hours per year on their accounts, therefore although you can undertake these financial recordings on your own, it can be more economical to employ a professional accountant or bookkeeping company to do them for you.
If you're filled with terror merely thinking about writing out ledgers, tracking assets and liabilities, preparing profit, loss and fiscal reports or compiling balance sheets, then the time to get in touch with a bookkeeper in Burntwood for advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
A frequent question that is asked by many people in Burntwood is "What exactly is the distinction between a bookkeeper and an accountant?" In the past it was frequently deemed to be beneath the experience, skill-sets and qualifications of an accountant to do the work of a bookkeper, however because of significant improvements in software over the past decade, many bookkeeping duties will now be undertaken by accounting firms in the Burntwood area. For many accounting companies it is now fairly common to charge a fixed rate for bookkeeping services, so that they're in keeping with the normal charges of a typical bookkeeper in Burntwood. This makes the cost of bookkeeping much more affordable than it once was, and is fantastic news for small businesses in Burntwood as it provides a broader range of competition within the industry.
When thinking about the biggest difference between an accountant and a bookkeeper, it's the amount of training that is needed for each discipline. An accountant will generally hold at least an accounting degree with additional training in the field of taxes and other financial and business management. Whilst having an understanding of these fiscal procedures, a bookkeeper in Burntwood may not necessarily have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER IN BURNTWOOD
The bookkeeping process put in the simplest of terms, is to record the day by day transactions (financial) of any enterprise or business in Burntwood. This can include;
- Payroll services.
- Documenting of all financial incomings; including card, electronic and cash payments.
- Documenting invoices received and ensuring that payment is completed by the due date.
- Ensuring double-entry bookkeeping and accounting practices are implemented.
- Monthly reporting and reconciliation.
- Highlighting and rectifying any discrepancies in the financial accounts.
- VAT recording and submissions.
- The billing of clients for work completed or goods.
Subject to the level of service you require, a bookkeeper might only be needed to double check your figures periodically, if you're willing to carry out a large majority of the bookkeeping work yourself. This should be each month at the bare minimum, as this will allow any problems or mistakes to be identified and rectified quickly. This trade-off can sometimes be the most cost-effective option if it is possible to stay on top of your day to day financial transactions and trading.
If you are currently looking to hire a bookkeeping service in Burntwood, whatever your situation, it is fairly likely that you may be having problems with your tax and financial procedures. A decent bookkeeping service will help you out with everything from stocktaking, invoicing and creating expense reports, to linking your business accounts with the latest computer software to seamlessly of your transaction information.
An extremely crucial aspect of effective bookkeeping is the ability to reconcile cash flow with accounts payable. Which means that your bookkeeper will arrange the payment of bills to a time when your accounts are buoyant and in good shape, instead of paying off a bill straight away, or waiting on an overdue notice, which a lot of small businesses in Burntwood are guilty of at some time or other. As well as keeping your business on a good financial footing, this also stands you in good stead with suppliers and companies who provide your business with services. This is a juggling act that can be hard to accomplish as an individual when you're mainly focussed on the operation of your business.
Having an individual who's unconnected to the business cast an unrelated eye over your financial dealings, is another advantage of using a competent bookkeeper in Burntwood for your small business or if you're a sole trader. It might be that business patterns and trends that you have overlooked will thus be highlighted. It isn't unusual for a bookkeeper to recognise a new opportunity or flag an area which is plummeting in profits. It is vital for the long-term growth of any business in Burntwood, to spot these key performance indicators.
If your business sends out invoices it can often be uncomfortable having to pursue a late payment. Having someone outside your normal business situation, can take away the embarrassment of visiting your customer or making that telephone call. If you have a repeating late or non-payer there are legal strategies a professional bookkeeper can employ to help resolve the situation before the matter ends up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some relatively basic sole trader bookkeeping requirements, that are set out in law. Sole traders are required to keep records of income and expenditure on a monthly basis and save all receipts and invoices. While this may sound simple it is still a good idea to hire the expertise of a bookkeeper. So that you'll be able to claim back all bonafide business expenses from HMRC, a specialised sole trader bookkeeper in Burntwood will be able to advise you on what you need to do. This could include advertising expenses, stationery goods, items such as laptops, bills and rent if working from home and printer ink. Speak to your local bookkeeper for more detailed advice and discover how they may be able to help your business to prosper and grow.
There are particular business niches where a specialist bookkeeper might be necessary. If exchange rate transfers, multi-currency processing, online payment procedures and international and cross-border taxes are involved, for example if you operate a store online, you'll want to hire a bookkeeper in Burntwood who is familiar with these operations. If you produce or hold the goods that you sell on that store, then it will be a massive priority for your bookkeeping services and software to manage your stock on a 24/7 basis, since the internet never sleeps.
It's also possible to establish a virtual office, which can be used in conjunction with your bookkeeping services and package. This is handy in enabling a sole trader or online only business to have a postal address and telephone service to offer a physical link with their client base. If this type of service is needed, it is certainly worth talking about the possibilities, although this solution won't be provided by all bookkeepers in Burntwood.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the qualifications in the bookkeeping industry are at Diploma or Certificate level, and a certified Burntwood bookkeeper does not need to have a degree. Although there are a variety of courses available online, bookkeeping qualifications can still be obtained via further education colleges and universities, if that is the chosen route.
There are two primary certification and training organisations representing bookkeepers:
The Institute of Certified Bookkeepers or ICB: Keeping their members up-to-speed with the latest trends, the Institute of Certified Bookkeepers or ICB is the largest bookkeeping organisation anywhere in the world, providing certification for qualified bookkeepers, along with training and reference material.
The AAT or Association of Accounting Technicians: With fully certified members entitled to use the letters AATQB after their name, the AAT or Association of Accounting Technicians provides a training schedule with advanced qualifications. This then entitles them to become a licensed AAT bookkeeper and guarantees a minimum level of service which is backed up by the association. To preserve the integrity of AAT membership, if a bookkeeper who is affiliated with the AAT is found to have broken the code of conduct or has a complaint against them, they may be subject to tribunal and disciplinary procedures.
By going to their respective websites, it's possible to check out the register of AAT or ICB members, to confirm the accreditations of any bookkeeper in Burntwood. Performing this check is strongly recommended before using the services of any bookkeeper in Burntwood.
Bookkeeping services are available in Burntwood and also in: Lichfield, Chasetown, Woodhouses, Chase Terrace, Brownhills, Clayhanger, Longdon, Cannock, Hammerwich, Hednesford, Norton Canes, Burntwood Green, Wimblebury, Heath Hayes, Pipehill, Little Norton, and in these postcodes WS7 1JR, WS7 0FB, WS7 0DY, WS7 0DX, WS7 1NY, WS7 1PS, WS11 9RR, WS7 1LG, WS7 0BH, WS7 0AZ. Local Burntwood bookkeeper services will likely have the postcode WS7 and the dialling code 01543. Verifying this should guarantee that you access locally based bookkeepers. Burntwood sole traders and business owners can benefit from these and various other similar services.
Burntwood Bookkeeper Tasks
Most Burntwood bookkeepers will be able to provide you with the following bookkeeping services: Quickbook bookkeeping, bookkeeping for limited companies Burntwood, accounting and bookkeeping services, professional bookkeeping services, double-entry bookkeeping Burntwood, landlord bookkeeping Burntwood, payment services, bookkeeping for startups in Burntwood, accounting and bookkeeping, Kashflow bookkeeping, bookkeeping services for retail outlets, bookkeeping services for societies, bank reconciliation Burntwood, bookkeeping estimates, general bookkeeping services, independent bookkeeping services, Sage bookkeeping services, letting agent bookkeeping Burntwood, bookkeeping for home-based businesses, bookkeeping services for tradesmen, personal tax returns Burntwood, bookkeeping for small business, bookkeeping for freelancers, mobile bookkeeping services Burntwood, management accounts, cash books, invoice processing in Burntwood, bookkeeping for charities Burntwood, and more. Listed are just a small portion of the duties that are undertaken by local bookkeepers. Burntwood providers will inform you of their entire range of services. If there happen to be some other Burntwood bookkeeper requirements that you need but can't see here, you can easily mention them on the QUOTE FORM provided. We'll get back to you with specifics just as soon as we are able.
In the Staffordshire area you can also find: Great Haywood bookkeeping accountants, Norton Canes bookkeeping accountants, Drayton Bassett bookkeeping accountants, Fazeley bookkeeping accountants, Standon accounts services, Heath Hayes bookkeeping accountants, Fulford bookkeeping services, Alsagers Bank bookkeeper, Uttoxeter bookkeeping services, Bignall End bookkeepers, Lower Penn bookkeeping services, Bridgtown accounts services, Longdon bookkeeping, Longton accounts services, Fradley accounts services, Alrewas bookkeepers, Baldwins Gate bookkeeper, Whitmore bookkeeping accountants, Barton Under Needwood bookkeeping accountants, Codsall bookkeeping accountants, Handsacre bookkeeping, Tunstall bookkeeper, Hednesford bookkeeping, Hopwas accounts services, Cheslyn Hay bookkeeping services, Bilbrook bookkeepers, Perton bookkeeper, Heath Hayes bookkeeping. All throughout the Staffordshire region you'll be able to track down bookkeepers who'll offer you high quality services for your security needs. If you're unable to find the rightin Burntwood itself then you should not have any problem finding a decent one near at hand.
Bookkeepers Near Burntwood
Also here.: Burntwood Green bookkeepers, Heath Hayes bookkeepers, Woodhouses bookkeepers, Pipehill bookkeepers, Chase Terrace bookkeepers, Lichfield bookkeepers, Hammerwich bookkeepers, Chasetown bookkeepers, Little Norton bookkeepers, Hednesford bookkeepers, Cannock bookkeepers, Wimblebury bookkeepers, Clayhanger bookkeepers, Longdon bookkeepers, Norton Canes bookkeepers, Brownhills and more. Most of these areas are served by local bookeepers. Burntwood businesses and traders can get pricing for bookkeeping services by going
- Burntwood Tax Returns
- Burntwood VAT Returns
- Burntwood Cheap Bookkeeping
- Burntwood Credit Control
- Burntwood Tax Preparation
- Burntwood Self-Assessment Bookkeeping
- Burntwood Payroll Services
- Burntwood Small Business Bookkeeping
- Burntwood Wages PAYE and CIS
- Burntwood Sole Trader Bookkeeping
- Burntwood Cash Flow Analysis
- Burntwood Invoice Processing
- Burntwood Profit and Loss Reporting
- Burntwood Bookkeeping Quotations
Bookkeepers Around Burntwood: People living in these local Burntwood streets have recently enquired about bookkeeping services - Cottage Lane, Cranfield Road, Anson Close, Albion Way, The Grove, Boney Hay Road, Aspen Grove, Thorpe Avenue, Shakespeare Road, Station Road, Balmoral Way, St Giles Road, Spinney Close, Sedgemoor Avenue, Beechen Grove, Burleigh Croft, Duke Road, Thornfield Crescent, Thistledown Avenue, Bramble Lane, Clinton Crescent, Boulton Close, Blackroot Close, Dove Close, Spencer Drive, The Ridgeway, Thorpe Street, Beech Crescent, Burns Drive, as well as these local Burntwood postcodes: WS7 1JR, WS7 0FB, WS7 0DY, WS7 0DX, WS7 1NY, WS7 1PS, WS11 9RR, WS7 1LG, WS7 0BH, WS7 0AZ.
To obtain local information on Burntwood, Staffordshire look here
More Staffordshire Bookkeepers: More Burslem, Stafford, Burton-upon-Trent, Stoke-on-Trent, Wombourne, Leek, Cannock, Hednesford, Tamworth, Hanley, Lichfield, Longton, Burntwood, Uttoxeter, Stone, Newcastle-under-Lyme, Biddulph, Fenton, Heath Hayes, Rugeley and Kidsgrove.:
Burntwood Bookkeeping Jobs: See bookkeeping jobs near Burntwood here: Burntwood Bookkeeping Jobs
Bookkeepers in WS7 area, telephone code 01543.
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