Bookkeepers Chertsey Surrey (KT16): You are responsible for maintaining accurate, "true and fair" accounting and financial records for at least 6 yrs, if you own a small business, operate an online store or are a sole trader in Chertsey, to comply with the Companies Act. If you are unable to produce this information, you may face disqualification as a Company Director and get thousands of pounds in fines. Accounting Today magazine reports that over forty percent of small business owners spend 80 plus hours each year doing their bookkeeping duties, so while you can do these financial recordings on your own behalf, it is often better to employ a professional bookkeeper or accountant to do them for you.
If you are filled with panic simply thinking about tracking liabilities and assets, filling out ledgers, producing balance sheets or preparing profit, loss and fiscal reports, then the time to get in touch with a bookkeeper in Chertsey for guidance has arrived.
BOOKKEEPER OR ACCOUNTANT?
A frequent question that's asked by a lot of people in Chertsey is "Exactly what is the difference between an accountant and a bookkeeper?" In truth, due to software improvements over the past ten years or so many accountancy companies in Chertsey will consider taking on the task of bookkeeping, which was previously considered beneath their experience, qualifications and skill set. Most accounting companies now charge a flat rate for bookkeeping services, to keep them in step with what a dedicated bookkeeper in Chertsey would normally charge. This makes the cost of bookkeeping cheaper than it once was, and is great news for business owners in Chertsey since it provides a broader range of competition within this sector.
The main difference between an accountant and a bookkeeper is the standard of training and qualification that is necessary. At least an accounting degree with further training in the field of taxes and other business and financial management, will typically be held by an accountant. While having a good grasp of these disciplines, a bookkeeper in Chertsey may not necessarily have the qualifications or levels of experience and training.
A BOOKKEEPER'S RESPONSIBILITIES
In the simplest of terms, bookkeeping involves the recording of daily monetary transactions of any business enterprise in Chertsey. This can include;
- Making sure that accounting and double-entry bookkeeping practices are followed.
- VAT submissions and recording.
- Highlighting and rectifying any discrepancies in financial accounts.
- Billing of customers for work completed or goods.
- Monthly reporting and reconciliation.
- Payroll services.
- Documenting invoices received and making sure that payment is completed by the due date.
- Documenting of all financial incomings; including cash, electronic and card payments.
While it depends on the type of service you are interested in, if you are prepared to do most of your own bookkeeping work, a bookkeeper might just be needed to double check your accounts periodically. So any problems or mistakes can be detected and amended quickly, at the bare minimum, this should be from month to month. If you're confident of keeping on top of your everyday financial transactions and trading activities, this trade-off can sometimes be the most cost-effective compromise.
It's a good bet that if you are looking to hire a bookkeeping service in Chertsey, you are currently having problems with the financial recording aspects of your small business. Offering advice and guidance on everything from invoicing, preparing expense reports and stocktaking, a professional bookkeeping company will also be able to walk you through the process of linking your business accounts with the latest computer software to facilitate the seamless processing of your business's financial information.
The efficient reconciliation of cash flow with accounts payable is one of the most crucial elements of a good bookkeeping service. This means that instead of paying off a bill straight away, or waiting on a final notice, which most small businesses are guilty of, your bookkeeper will optimise the payment of bills to a time when your accounts are in good shape. This doesn't just keep your enterprise or business financially stable, but keeps you in favour with suppliers and the businesses who supply you with services. When you are mostly focussed on the smooth running of your company, this is a balancing act that you may find difficult to perform as an individual.
If you are a sole trader, or own a small business, using an experienced bookkeeper in Chertsey, also gives them the chance to cast an independent eye over the running of your business. This independent appraisal can enable them to notice business patterns and trends that might have gone unnoticed. A situation where a keen eyed bookkeeper flags up an area which is dropping in profits, or spots a new opportunity that may be lucrative, is by no means an uncommon occurrence. These key performance indicators are essential in driving growth for any enterprise in Chertsey.
It can often be quite humiliating to pursue late payments if your business gives out invoices. Some of that embarrassment can be removed by having a professional outside your business bubble make that telephone call or visit to your customer. If you have a consistent late or non-payer there are legal solutions a professional bookkeeper can employ to help resolve the situation before the issue ends up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal bookkeeping requirements for sole traders, are relatively straightforward and simple. In essence, sole traders should keep all invoices and receipts, and keep records of expenditure and income on a month by month basis. While this might sound easy it is still recommended that you hire the expertise of a bookkeeper. Advising you on what legitimate business expenses you are able to claim back, a professional sole trader bookkeeper in Chertsey will deal with HMRC on your behalf. This may include stationery, items such as laptops, rent and bills if working from home, advertising and printer ink. If you'd like to get more detailed advice, and see how your small business can grow going forward, speak to a trusted bookkeeper.
BOOKKEEPING FOR ONLINE TRADERS
Specialist bookkeepers are required now and again for specific niches in bookkeeping. For example, if you run an online store, you'll want to employ a bookkeeper in Chertsey who's familiar with multi-currency processing, online payments, cross-border and international taxes and exchange rate transfers. Overseeing inventory on a 24 hours a day basis is also a major concern, if that same outlet sells goods that you hold or produce, after all the internet does not sleep, so neither should your bookkeeping services and software.
Together with bookkeeping services, it's also possible to supply a remote virtual office. This allows a sole trader or online only business to offer a physical connection to their customers, via a telephone service and postal address. Not all bookkeepers in Chertsey will be able to provide this solution, but it is worthwhile discussing the possibilities if it is something that could benefit you.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the qualifications in the bookkeeping industry are at Certificate and Diploma level, and a professional Chertsey bookkeeper doesn't need to hold a degree. Qualifications can be gained through further education universities and colleges but there's also a growing choice of courses available online.
Certification and training for bookkeepers is mainly provided by two organisations:
The AAT (Association of Accounting Technicians): With fully trained members being able to use the letters AATQB after their name, the AAT (Association of Accounting Technicians) provides advanced qualifications and a training schedule. This then permits them to become a accredited AAT bookkeeper and assures a minimum level of service which is backed by the association. Bookkeepers who are members of the AAT can can be subject to tribunal and disciplinary processes if they have a complaint filed against them or are found to have contravened the code of practice. This helps to preserve the integrity and values of AAT membership.
The ICB or Institute of Certified Bookkeepers: Keeping their members informed about the latest trends, the Institute of Certified Bookkeepers (ICB) is the largest organisation in the world, providing accreditation to certified bookkeepers, along with reference material and training.
You can check the qualifications of any bookkeeper in Chertsey on the register of AAT or ICB members on their websites. Undertaking such checks is usually advised before actually getting involved with any professional bookkeeper in Chertsey.
Bookkeeping services are available in Chertsey and also in nearby places like: Thorpe, Stonehill, Brooklands, New Haw, Castle End, St Georges Hill, Ottershaw, Lyne, Longcross, Woodham, Leleham, together with these postcodes KT16 0WJ, KT16 8HG, KT16 8EE, KT16 8FD, KT16 8AW, KT16 6EB, KT16 8BZ, KT16 8LG, KT16 8NF, KT16 8LU. Local Chertsey bookkeeper services will probably have the phone code 01932 and the postcode KT16. Verifying this should confirm you access locally based bookkeepers. Chertsey sole traders and business owners are able to utilise these and countless other comparable services.
Cash Flow Analysis
To comprehend its financial wellbeing, any business must employ cash flow analysis. Bookkeepers play a critical role in performing cash flow analysis for businesses. The task involves keeping tabs on the amount of cash entering and leaving the business within a specific time frame, generally monthly or quarterly. Conducting a cash flow analysis enables the bookkeeper to help the businessperson understand their current financial situation, detect any cash flow problems, and make plans for the future.
A clear picture of a company's financial health is created through categorizing and reconciling all cash transactions, including sales, investments and expenses, in the analysis. It also involves forecasting the business's cash flow for the next few months or years to help the company make informed decisions and avoid potential cash flow difficulties.
In addition, the bookkeeper can advise on ways to improve cash flow, such as reevaluating pricing strategies or refining payment processes. Furthermore, lenders may be more inclined to provide financing if a company's cash flow analysis demonstrates that it has the ability to pay back the loan. An accurate and thorough cash flow analysis is an essential tool for any business looking to manage their finances effectively.
What Are the Main Advantages of Using a Bookkeeper in Chertsey Over an Accountant?
The following are some reasons why you might want to use a bookkeeper in Chertsey, as opposed to an accountant:
- Specialisation: Bookkeepers tend to have a more focused expertise in day-to-day financial transaction management and record-keeping, leading to greater efficiency and effectiveness in such tasks.
- Customisation: Tailored services can often be provided by a bookkeeper, unlike accountants who might have a more standard approach.
- Availability: Bookkeepers are generally more accessible and on hand to answer questions and provide support compared to an accountant, who may sometimes be hard to reach.
- Time: By outsourcing bookkeeping, business owners can save time and focus on other vital areas of their business like sales and marketing.
- Cost-Effectiveness: Bookkeeping services are typically more cost-efficient in comparison to accounting services, which makes them a smart choice for sole traders, start-ups and small businesses looking to save on expenditure.
That being said, it's important to note that while bookkeepers can provide invaluable support, they might not have the same level of qualifications or expertise as an accountant in certain areas such as financial planning or tax preparation. In these cases, it might be necessary to go to an accountant when more specialist services are required.
Financial statement preparation.
Chertsey Bookkeeper Tasks
Most bookkeepers in Chertsey will be prepared to offer you the following accounting and bookkeeping services: bookkeeping estimates in Chertsey, credit control Chertsey, payment services, bookkeeping for payroll Chertsey, bookkeeping and accounting, Xero bookkeeping, bookkeeping services for self-employed people, bookkeeping for restaurants, company cash books, Sage bookkeeping services, tax preparation, management accounts, accounting and bookkeeping services, management reports in Chertsey, assistance with registering for self-employment in Chertsey, bookkeeping for retail outlets, off-site bookkeeping, letting agent bookkeeping Chertsey, maintaining fixed asset registers, PAYE & wages, bookkeeping services for tradesmen, bookkeeping for startups in Chertsey, bookkeeping for charities, accountancy packages in Chertsey, Self-Assessment tax returns, bank reconciliations in Chertsey, mobile bookkeeping services, financial statement preparation, general bookkeeping services, small business tax returns, and more. These are just an example of the tasks that are undertaken by local bookkeepers. Chertsey professionals will inform you of their full range of bookkeeping services. If there are different Chertsey bookkeeper requirements that you need but cannot see here, you should list them on the QUOTE FORM provided. We'll be in touch with information as soon as we are able.
Chertsey Bookkeeper Questions
In the past few months I've been mulling over the popular questions folks in Chertsey ask with regards to bookkeeping. Many of you have e-mailed fascinating queries that I thought would be relevant to this discussion. The ones I picked were, Bookkeepers - what do they do? How much do bookkeepers charge per hour? Does a bookkeeper do payroll? What are the benefits of a bookkeeper? Does a bookkeeper need a degree? Why do you need a bookkeeper? How is bookkeeping differentiated to accounting? Where can I hire a bookkeeper in Chertsey? What qualifactions are needed to be a bookkeeper? We hope nearly all of these questions have been dealt with in the preceding paragraphs, and if some still need to be addressed we'll soon be introducing a bookkeeping "Q&A" section. Many thanks to Taylor Richardson, Hamish Hunter, Ned Burke and Ashley Hayward, for submitting these questions. We also received contributions from Kylie Winter in Leleham, Josiah Thorne in Lyne and Madison Lancaster in Woodham.
Bookkeepers Near Chertsey
Also find: St Georges Hill bookkeepers, Lyne bookkeepers, Brooklands bookkeepers, Ottershaw bookkeepers, Woodham bookkeepers, Longcross bookkeepers, Castle End bookkeepers, New Haw bookkeepers, Leleham bookkeepers, Stonehill bookkeepers, Thorpe bookkeeper and more. Most of these towns and villages are catered for by local bookeepers. Chertsey businesses and traders can get fees for bookkeeping services by going here.
Bookkeeping Services Chertsey
- Cash Flow Analysis
- Self-Assessment Bookkeeping
- Self-Assessment Tax Returns
- Cheap Bookkeeping
- Sole Trader Bookkeeping
- PAYE and Wages
- Tax Preparation
- Bookkeeping Services
- Bookkeeping Quotes
- Profit and Loss Reporting
- Credit Control
- VAT Returns
- Small Business Bookkeeping
- Double-Entry Bookkeeping
Chertsey Bookkeeping Jobs: See bookkeeping jobs near Chertsey here: Bookkeeping Jobs Chertsey
For the latest local Chertsey info look here
More Surrey Bookkeepers: More Surrey bookkeepers: Walton-on-Thames, Guildford, Esher, Redhill, Godalming, Cranleigh, Haslemere, Weybridge, Caterham, Ewell, Molesey, Windlesham, Woking, Epsom, Horley, Addlestone, Hersham, Reigate, Farnham, Chertsey, Ash, Leatherhead, Camberley, Staines, Sunbury-on-Thames, Banstead and Dorking.
Bookkeepers in KT16 area, (dialling code 01932).
VAT Returns Chertsey - Xero Bookkeeping Chertsey - Bookkeepers Near Chertsey - Double-Entry Bookkeeping Chertsey - Bookkeeping Quotations Chertsey - Small Business Bookkeepers Chertsey - Sole Trader Bookkeepers Chertsey - Tax Returns Chertsey - Small Business Bookkeeping Chertsey