Bookkeepers Canterbury Kent (CT1): Regardless of whether you are a sole trader, operate a small business or run an online store in Canterbury, you're responsible for maintaining "true and fair", accurate accounting and financial records for a minimum of 6 years in accordance with the Companies Act (2006). If you can't produce such records, you may face disqualification as a Company Director and receive thousands of pounds in fines. It can pay you to use a professional accountant or bookkeeping service to do this for you, since according to the magazine Accounting Today over 40% of small businesses spend at least 80 hours each year on their bookkeeping duties, which is a large investment of time, and might be better spent on your key business activities.
If you're overcome with a sense of dread just thinking about the possiblility of writing out ledgers, compiling balance sheets, preparing profit, loss and fiscal reports or tracking assets and liabilities, then the time to contact a bookkeeper in Canterbury for assistance has arrived.
BOOKKEEPER OR ACCOUNTANT?
"Precisely what is the difference between a bookkeeper and an accountant?" Is a question which is asked by a lot of business owners in Canterbury. The fact is that even though in the past the process of bookkeeping, was regarded as beneath the qualifications, skill set and experience of an accountant, due to improvements in software over the past decade or so, many accountancy companies in Canterbury will now undertake bookkeeping. To ensure their bookkeeping services are commensurate with an independent bookkeeper's fee, it's now fairly common for accountancy firms to charge a set fee for such services. This is good news for business owners as it provides a broader range of competition within the industry and can make your bookkeeping costs more affordable than previously thought.
When you are thinking about the differences between a bookkeeper and an accountant, the main one is the level of qualification and training that's necessary for each discipline. An accountant will, at a minimum, hold a degree in accounting, and should have also had further training in fiscal and business management, and taxes. Although probably not having this level of training and experience, or holding the same financial qualifications, a bookkeeper in Canterbury will have a fair grasp of all these fiscal skills.
A BOOKKEEPER'S RESPONSIBILITIES
To explain in the simplest of forms possible, bookkeeping involves the recording of day to day monetary transactions of any business or enterprise in Canterbury. This could include;
- Monthly reconciliation and reports.
- Ensuring accounting and double-entry bookkeeping practices are followed at all times.
- Payroll services.
- Recording the receipt of invoices and making certain that payment is completed promptly.
- Logging of all financial incomings; including electronic, card and cash payments.
- The billing of clients for work completed or goods.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- VAT submissions and recording.
Contingent upon the level of service you require, a professional bookkeeper may just be needed to double check your figures every so often, if you're in a position to do the majority of your own bookkeeping work. As a bare minimum this should be monthly, to enable the quick detection and correcting of any problems or mistakes. If you are able to stay in control of your day by day financial transactions and trading activities, this compromise can often be the most cost effective.
Whatever the situation is with your company or small business, if you're currently thinking of hiring a bookkeeping firm in Canterbury, there's a fair chance that you may be fretting over the process of recording your financial data. Offering advice on everything from producing expense reports, stocktaking and invoicing, a professional bookkeeping company will also be able to guide you through the process of linking your business accounts with the latest software program to facilitate the seamless processing of your business's data.
One of the most crucial aspects of good bookkeeping, is being able to successfully reconcile cash flow with accounts payable. This means that your bookkeeper will organise the payment of bills to times when your accounts are buoyant, instead of paying a bill straight away, or waiting on a final notice, which a lot of small businesses in Canterbury are guilty of doing. This isn't simply to ensure your enterprise or business is financially sound all the time, but also to keep you in favour with the businesses who supply you with materials or services. This is a balancing act that can be tricky to perform as an individual when you're inevitably focussed on the operation of your business.
Using an experienced bookkeeper in Canterbury, if you are a sole trader, or for your small business also gives them the chance to cast an unrelated eye over your financial situation. Business trends and patterns that you may have disregarded could be pinpointed by this sort of independent appraisal. It's not unheard of for a bookkeeper to identify a new opportunity or flag up an area where profits are dropping off. For the growth and success of any enterprise in Canterbury, it is crucial that such key performance indicators (KPI's) are spotted early.
If your business sends out invoices it can often be embarrassing having to chase up a late payment. Having a person from outside your business bubble, can take the embarrassment away from visiting your client or making that phone call. A bookkeeper can employ legal techniques to take care of a persistent late or non-payer, and without having to resort to claims court proceedings, help to clear up the matter.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The bookkeeping requirements for a sole trader, as laid out by law, are reasonably uncomplicated and easy to understand. It's required that a sole trader should keep track of income and expenditure on a monthly basis and keep all receipts and invoices. Although this may at first sound fairly simple, retaining the services of a bookkeeper is still a good idea. So that you'll be able to claim back all legitimate business expenses from HMRC, a specialist sole trader bookkeeper in Canterbury will be able to give you advice on what must be done. This might include promotional advertising, stationery, printer ink, bills and rent if you work from home and items such as laptops. To discover how to help your business grow, speak to your local bookkeeper for more detailed advice.
Certain business enterprises that work in niche areas, might need to employ a specialised bookkeeper. For example, if you run an online store, you'll be better off employing a bookkeeper in Canterbury who's familiar with multi-currency processing, online payment procedures, cross-border and international taxes and exchange rate transfers. If you produce or hold the goods that you distribute through that store, then it will be a huge concern for your bookkeeping services and software to control your your inventory and stock on a 24/7 basis, given that the internet doesn't sleep.
A remote virtual office can also be provided together with bookkeeping services. This allows a sole trader or online only business to have a postal address and telephone service to provide a physical connection to their buyers. It's worth talking about this possibility if it's something that could benefit you, although not all bookkeeping companies in Canterbury will provide this option.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It's not mandatory for a professional bookkeeper in Canterbury to have a degree, and a good number of the bookkeeping industry qualifications are held at Certificate and Diploma level. Qualifications can be obtained through further education colleges and universities but there are also a growing number of courses offered online.
To provide certification and training for bookkeepers, there are basically 2 primary organisations of interest:
The ICB or Institute of Certified Bookkeepers: The Institute of Certified Bookkeepers (ICB) is the largest organisation on the planet and offers accreditation to certified bookkeepers, along with training and reference material to keep their associated members up-to-date.
The Association of Accounting Technicians (AAT): With fully trained members being able to use the letters AATQB after their name, the Association of Accounting Technicians (AAT) provides a training schedule with advanced qualifications. This assures a high standard of service to their customers which is backed by the association, and enables them to become a authorised AAT bookkeeper. If a bookkeeper who is affiliated with the AAT has a complaint against them or is found to have contravened the code of conduct they may be liable to disciplinary and tribunal procedures to safeguard the values and integrity of the AAT.
You're able to check the qualifications of any professional bookkeeper on the register of AAT or ICB members on their respective websites. Performing these checks is always a good idea before you actually employ any local bookkeeper in Canterbury.
Bookkeeping services are available for those living in in Canterbury and also in nearby places like: Fordwich, Rough Common, Hoath, Tyler Hill, Chartham Hatch, Littlebourne, Lower Hardres, Bekesbourne, Aylesham, Sturry, Chartham, Blean, Broadoak, Harbledown, Faversham, Chilham, Bridge, together with these postcodes CT1 1NA, CT1 1BS, CT1 1FW, CT1 1AP, CT1 1AA, CT1 1EW, CT1 1DU, CT1 1PN, CT1 1EX, CT1 1PE. Locally based Canterbury bookkeeper services will likely have the telephone dialling code 01227 and the postcode CT1. Checking this should guarantee you access local bookkeepers. Canterbury sole traders and business owners will be able to benefit from these and various other similar services.
Bookkeeping Canterbury - Outsourcing Options
All businesses in Canterbury should understand the significance of bookkeeping. It helps business people monitor their payables/receivables, the total value of their liabilities and assets, the money left in the bank, and the like. With the owner of the business having to deal with a lot of concerns and issues while running a business, the task of carrying out the bookkeeping is often outsourced to a bookkeeping company or freelance bookkeepers in Canterbury.
If a company in Canterbury hires a bookkeeper in order to become an employee, 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 after the training is completed. 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 Canterbury.
With the advent of new technology and the internet there is no need for business owners to stick to a freelance bookkeeper who may continue with outdated accounting practices. Again, they are not under pressure to hire and retain some in-house bookkeepers. Bookkeeping outsourcing is becoming increasingly common in the financial domain. One will find a lot many companies offering financial bookkeeping services catering to all kinds of clients and industries in Canterbury. A majority of these companies promise and deliver quality service. It assumes importance for a business to look into the track record of these Canterbury bookkeeping companies when it comes to hiring a third party company for bookkeeping purposes.
The business owner in Canterbury 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 Canterbury should have a well protected system that can be relied on and trusted.
These professional bookkeeping companies in Canterbury 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.
Canterbury Bookkeeper Questions
Just the other week I was looking at the most common questions that folks in Canterbury ask regarding bookkeepers. A couple of you have put forward some noteworthy enquiries that might be worth a mention here. Those that stood out are, How is bookkeeping differentiated to accounting? What are the benefits of a bookkeeping services? What do bookkeeping services include? Can a bookkeeper be held liable? Do bookkeepers do income statements? Does a bookkeeper have to be registered? What makes a good bookkeeper? Why choose a bookkeeper in Canterbury? How much should bookkeeping cost? I hope that the majority of these queries have been answered somewhere on this webpage, and if some still need to be addressed a bookkeeping "Q&A" feature will be introduced in the near future. My thanks go to these folks in Canterbury for taking time out to put their questions; Joshua Fisher, Ashley Marsh, Carl Fowler and Hadley Kent. We also got questions from Londyn Reilly in Harbledown, Carlos Paul in Blean and Abigail Langley in Bekesbourne.
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Canterbury Bookkeeper Tasks
Most bookkeepers in Canterbury will be prepared to offer you the following services: bank reconciliation Canterbury, bookkeeping quotations Canterbury, invoice processing, personal tax returns Canterbury, general bookkeeping services, bookkeeping services for retail outlets in Canterbury, bookkeeping for home-based businesses Canterbury, QUOTE FORM provided. We will get back to you with specifics as soon as we can., bookkeeping for freelancers, landlord bookkeeping Canterbury, mobile bookkeeping services, VAT returns Canterbury, bookkeeping for societies in Canterbury, Kashflow bookkeeping Canterbury, profit & loss reports, professional bookkeeping services in Canterbury, bookkeeping for self-employed, tax return preparation, bookkeeping for organisations in Canterbury, bookkeeping for pubs, off-site bookkeeping, bookkeeping for tradesmen, Xero bookkeeping services, payment services, partnership returns, bookkeeping services for restaurants, bookkeeping for clubs in Canterbury, franchise bookkeeping Canterbury, business bookkeeping, bookkeeping and accounting services Canterbury, and more. These are just an example of the activities that are performed by local bookkeepers. Canterbury providers will keep you informed about their whole range of services. If there are other Canterbury bookkeeper requirements that you need but don't see here, you should list them on the
Kent Bookkeeping Enquiries
The latest Kent bookkeeping enquiries: Cayden Fletcher from Halstead was searching for a bookkeeper to do his tax returns. Zakaria Delaney in Kingswood was trying to find bookkeeping services for his plumber's business. Reid Tipping in Swanley was trying to find bookkeeping for his public house. Sarah Winn from Biddenden was asking about a bookkeeper for her diner. Ocean Church needed a bookkeeper for her letting agency in Wilmington. Jason Aslam in Sturry was enquiring about a bookkeeper for his cake shop. Philip Bedford from Woodchurch, Kent was hunting for a bookkeeper for his book club. Zoya Bowes from Sturry, Kent was searching for a bookkeeper to do her Self-Assessment tax returns. All these people searched for "Bookkeepers Kent" and discovered this webpage on Google, Yahoo or Bing.
Bookkeepers Near Canterbury
Also here.: Faversham bookkeepers, Blean bookkeepers, Fordwich bookkeepers, Harbledown bookkeepers, Chartham bookkeepers, Aylesham bookkeepers, Littlebourne bookkeepers, Bekesbourne bookkeepers, Tyler Hill bookkeepers, Bridge bookkeepers, Chilham bookkeepers, Chartham Hatch bookkeepers, Rough Common bookkeepers, Lower Hardres bookkeepers, Sturry bookkeepers, Broadoak bookkeepers, Hoath and more. The majority of these locations are catered for by local bookeepers. Canterbury businesses can get prices for bookkeeping services by clicking
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Bookkeepers Around Canterbury: People who live in these local Canterbury streets and areas have recently enquired about bookkeeping services - Chestnut Avenue, Brockenhurst Close, The Precincts, Boyke Lane, Barn Close, Bigberry Road, Seaton Road, Derringstone Street, St Michaels Close, Baye Lane, Adisham Mill Road, Tudor Road, Saunders Lane, The Glen, Town Road, Selling Road, The Crescent, Bigbury Road, Chilton Place, Cranmer Close, Sleigh Road, Cherry Orchard, Castle Row, The Shrubbery, The Borough, Downs Road, Chestnut Drive, Thanington Road, as well as the following Canterbury area postcodes: CT1 1NA, CT1 1BS, CT1 1FW, CT1 1AP, CT1 1AA, CT1 1EW, CT1 1DU, CT1 1PN, CT1 1EX, CT1 1PE.
More Kent Bookkeepers: More Snodland, Biggin Hill, Faversham, Sheerness, Hartley, Bearsted, Meopham, Sittingbourne, Lydd, Sevenoaks, Ramsgate, Swanscombe, Sandwich, Tonbridge, Minster, Cranbrook, New Romney, Northfleet, West Kingsdown, Southborough, Maidstone, Dover, Gillingham, Ashford, Whitstable, Sturry, Strood, Birchington-on-Sea, Gravesend, Kingsnorth, Staplehurst, Chatham, Canterbury, Swanley, Broadstairs, Paddock Wood, Aylesford, Walmer, Folkestone, Herne Bay, Dartford, Deal, Tenterden, Rochester, Edenbridge, Wilmington, Pembury, East Malling, Tunbridge Wells, Boxley, Westerham, Margate and Westgate-on-Sea.:
Bookkeepers in CT1 area, phone code 01227.
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