Bookkeepers Chester Cheshire (CH1): You are entirely responsible for maintaining accurate, "true and fair" financial and accounting records for at least six years, if you are a sole trader, own a small business or operate an online store in Chester, in accordance with the Companies Act (2006). If you're unable to produce such information you might face thousands of pounds in fines and possibly disqualification as a Company Director. There's a significant time investment involved with preparing such financial records yourself, and it can be more cost-effective to use a professional bookkeeping service or accountant, as according to Accounting Today magazine over 40% of small business owners spend over 80 hours each year on their bookkeeping.
The time has come to contact a bookkeeper in Chester for guidance and advice, if the idea of compiling balance sheets, tracking liabilities and assets, writing out ledgers or preparing profit, loss and fiscal reports brings you feelings of terror.
BOOKKEEPER OR ACCOUNTANT?
A common question that's asked by a lot of business owners in Chester is "Precisely what is the distinction between an accountant and a bookkeeper?" The truth is that while in past times many accountants considered the bookkeeping process to be beneath their experience, qualifications and skill-sets, many accountancy firms in Chester will now undertake the task of bookkeeping, due to massive improvements in software over the past ten years. To keep their bookkeeping services in step with a dedicated bookkeeper's fee, it's now common practice for many accounting firms to charge a set rate for such services. This means that the cost of bookkeeping is far more affordable than it previously was, and is great news for small business owners in Chester as it gives a wider range of competition within the industry.
When looking at the main difference between a bookkeeper and an accountant in Chester, it is the level of training and qualification that's necessary for each discipline. An accountant will, at the minimum, hold a degree in accounting, and should have also had additional training in business and financial management, and taxes. While not necessarily holding the same financial qualifications, or having this level of experience and training, a bookkeeper in Chester will still have a good understanding of all these disciplines.
A BOOKKEEPER'S RESPONSIBILITIES
In the simplest of terms, the bookkeeping process involves the careful recording of day to day fiscal transactions of any business in Chester. This could include, but isn't limited to;
- Logging of all financial incomings; including cash, card and electronic payments.
- Payroll services.
- Billing of customers for goods or work completed.
- VAT recording and submissions.
- Logging the receipt of invoices and ensuring payment is completed on time.
- Ensuring double-entry bookkeeping and accounting practices are followed at all times.
- Monthly reporting and reconciliation.
- Highlighting any discrepancies in the financial accounts and rectifying them.
While it depends on the type of service you're interested in, if you are prepared to perform the vast majority of your own bookkeeping work, a professional bookkeeper may only be needed to periodically double-check your figures. This should be monthly at the bare minimum, as this allows for any problems or mistakes to be discovered and corrected promptly. This trade-off can sometimes be the most cost-effective option if you are confident of remaining on top of your day by day financial transactions and trading operations.
Whatever the scenario is with your business or company, if you are seriously considering hiring a bookkeeping service in Chester, it is fairly likely that you might be having problems with the process of financial recording and taxes. A good bookkeeping company will be able to help you to link your accounts with the latest software to facilitate the seamless arrangement of financial data, and will provide guidance and advice on stuff like invoicing, generating expense reports and stocktaking.
One of the most important aspects of good bookkeeping, is being able to successfully reconcile accounts payable with cash flow. Which means that by arranging bill payments to times when your accounts are in good shape and buoyant, your bookkeeper will avoid the thing that many small businesses in Chester are guilty of i.e. paying off a bill straight away, or waiting for an overdue notice. This does not just keep your business enterprise financially stable, but keeps you in the good books of suppliers and those people who supply you with services. When you are primarily focussed on running your company, this is a balancing act that you may find tough to perform as an individual.
If you are a sole trader, or operate a small business, employing a qualified bookkeeper in Chester, also gives them the chance to cast an unrelated eye over the financial dealings of your business. This unbiased appraisal can enable them to discover business trends and patterns that you might have disregarded. It is not at all unusual for an astute bookkeeper to flag an area where profits are falling, or spot a new opportunity that could be lucrative. For the success of any enterprise in Chester, it is important that such KPI's (key performance indicators) are spotted early on.
If invoices are sent out by your company it can sometimes be awkward to chase up a late payment. Having somebody from outside your normal business situation, can take away the apprehension of making that telephone call or visit to your client. If you've got problems with a persistent late payer there are legal strategies that a bookkeeper can use to help resolve the situation before the issue ends up in a claims court.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The requirements for bookkeeping by a sole trader, as set out in law, are comparatively uncomplicated and easily understandable. It is required that sole traders should keep track of income and expenditure on a month by month basis and keep all receipts and invoices. Now, this doesn't sound too difficult does it? Yet, it is still recommended that you retain the services of a bookkeeping company to make certain that it's all done correctly. A specialised sole trader bookkeeper in Chester will be happy to advise you on what you are able to claim back from HMRC as business expenses. This might include bills and rent if working from home, advertising, items such as computing equipment, printer ink and stationery goods. For more detailed advice, talk to your local bookkeeper, and see how they may be able to help your small business to flourish and grow in the future.
ONLINE TRADERS IN CHESTER
Some small businesses that work in niche markets, might need to use a specialist bookkeeper. If, for example, you run an online store, you will need a bookkeeper in Chester who is familiar with multi-currency processing, exchange rate transfers, online payments and cross-border and international taxes. If you hold or produce the merchandise that you distribute through that store, then it will be a major concern for your bookkeeping services and software to deal with your inventory on a 24/7 basis, because of course, the internet does not sleep.
A remote virtual office can also be provided in combination with your bookkeeping service. This can be handy in allowing an online only business or sole trader to have a postal address and telephone service to provide a physical connection to their client base. If this sort of service could be useful, it's certainly worth discussing the possibilities, although this solution will not be provided by all Chester bookkeeping companies.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A lot of the bookkeeping qualifications are at Certificate and Diploma level, and it isn't mandatory for a professional bookkeeper in Chester to hold a degree in accounting. If the chosen route to qualification is via further education colleges and universities, this possibility is still available, although there there's an ever-growing number of bookkeeping courses available online.
To provide certification and training for bookkeepers, there are basically two key organisations of interest:
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 been provided with a training schedule and advanced qualifications in bookkeeping. They can then become authorised AAT bookkeepers, backed up by this respected association, which assures a minimum standard of service for their customers. AAT bookkeepers can can be liable to tribunal and disciplinary procedures if a complaint is made against them or they are found to have violated the code of conduct. This helps to preserve the integrity of the AAT membership.
The Institute of Certified Bookkeepers or ICB: Keeping their associated members current with the latest trends and developments, the Institute of Certified Bookkeepers (ICB) is the largest bookkeeping organisation anywhere in the world, providing accreditation to bookkeepers, together with reference material and training.
You're able to check the qualifications of any professional Chester bookkeeper on the register of AAT or ICB members on their respective websites. Before employing any professional bookkeeper in Chester it's strongly advised to implement this check.
Bookkeeping services are available for those living in in Chester and also in nearby places like: Upton, Hoole, Great Broughton, Newton, Handbridge, Waverton, Lache, Boughton, Mickle Trafford, Vicars Cross, Huntington, Eccleston, Blacon, Deeside, Saltney, Christleton, Bretton, Rowton, Tarporley, as well as in these postcodes CH1 1HN, CH1 2BE, CH1 1SD, CH1 1XP, CH1 1HP, CH1 1SE, CH1 1RA, CH1 2HU, CH1 1HL, CH1 2DN. Locally based Chester bookkeeper services will likely have the postcode CH1 and the phone code 01244. Checking this out can make sure that you access local bookkeepers. Chester sole traders and business owners will be able to benefit from these and countless other bookkeeping related services.
In the Cheshire area you can likewise find: Stretton bookkeepers, Delamere bookkeeping, Saughall bookkeeping services, Latchford bookkeepers, Sutton Lane Ends bookkeepers, Frodsham bookkeepers, Stapeley bookkeeping, Appleton Thorn bookkeeping services, Wheelock Heath accounts services, Crewe bookkeeping services. All around Cheshire it should be possible to find bookkeepers who will offer various services for all your security requirements. If you cannot identify a satisfactory in Chester itself then you will surely be able to find one nearby., Lostock Gralam bookkeeping, Latchford bookkeeping services, Winwick bookkeeping services, Stapeley accounts services, Rixton , Tarporley bookkeeping accountants, Poulton with Fearnhead bookkeeper, Disley bookkeeper, Wrenbury bookkeeping, Willaston , Prestbury bookkeeping services, Winwick accounts services, Audlem bookkeepers, Farndon bookkeeping accountants, Weaverham , Chelford bookkeeper, Frodsham bookkeeping, Lymm bookkeepers, Guilden Sutton bookkeeping, Barrow
Chester Bookkeeper Tasks
Most Chester bookkeepers will be prepared to offer you the following accounting and bookkeeping services: franchise bookkeeping Chester, personal tax returns Chester, off-site bookkeeping, Quickbook bookkeeping, bank reconciliation, Kashflow bookkeeping in Chester, bookkeeping services for retail outlets Chester, charity bookkeeping Chester, bookkeeping services for shops, bookkeeping for limited companies in Chester, credit control in Chester, letting agent bookkeeping Chester, professional bookkeeping services in Chester, cash books, bookkeeping for charities in Chester, invoice processing, bookkeeping for startups Chester, general bookkeeping services, mobile bookkeeping services Chester, bookkeeping for freelancers in Chester, cash flow analysis, double-entry bookkeeping, bookkeeping for self-employed people in Chester, Self-Assessment tax returns Chester, accountancy packages Chester, payment services, QUOTE FORM provided. We'll be in touch with specifics as soon as we can.in Chester, management reports Chester, bookkeeping services Chester, bookkeeping for sole traders, and more. Listed are just a handful of the tasks that are undertaken by local bookkeepers. Chester professionals will be delighted to keep you abreast of their entire range of bookkeeping services. If there are additional Chester bookkeeper requirements that you need but cannot see here, you can mention them on the
Bookkeepers Near Chester
Also here.: Saltney bookkeepers, Vicars Cross bookkeepers, Great Broughton bookkeepers, Hoole bookkeepers, Huntington bookkeepers, Blacon bookkeepers, Mickle Trafford bookkeepers, Boughton bookkeepers, Bretton bookkeepers, Waverton bookkeepers, Christleton bookkeepers, Handbridge bookkeepers, Rowton bookkeepers, Deeside bookkeepers, Lache bookkeepers, Eccleston bookkeepers, Newton bookkeepers, Tarporley bookkeepers, Upton and more. All these villages and towns are catered for by local bookeepers. Chester businesses and traders can get rates for bookkeeping services by clicking
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Bookkeepers Around Chester: People who live in these nearby Chester streets and roads have just recently requested bookkeeping services - Siddeley Close, Seller Street, Bents Cottages, Brewery Lane, Abingdon Crescent, Dee Road, Sussex Way, Belgrave Place, Ambleside, Castle Drive, Dane Close, Tatton Close, Brodie Close, Stannage Lane, Black Diamond Street, Sedum Close, Townfield Lane, Berkley Drive, Church Steadings, Cannon Way, Aldersey Lane, Clarence Avenue, Dee View, Blantern Road, Aspen Grove, Tower Wharf, Bush Road, Brentwood Road, Stanley Park Drive, as well as these Chester area postcodes: CH1 1HN, CH1 2BE, CH1 1SD, CH1 1XP, CH1 1HP, CH1 1SE, CH1 1RA, CH1 2HU, CH1 1HL, CH1 2DN.
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More Cheshire Bookkeepers: More Northwich, Nantwich, Lymm, Congleton, Neston, Poynton, Widnes, Alsager, Middlewich, Runcorn, Crewe, Ellesmere Port, Macclesfield, Sandbach, Knutsford, Winsford, Warrington, Wilmslow, Frodsham and Chester.:
Bookkeepers in CH1 area, phone code 01244.
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