Bookkeepers Crawley West Sussex (RH10): Irrespective of whether you are a sole trader, operate a small business or run an online store in Crawley, you are responsible for keeping "true and fair", accurate accounting and financial records for a minimum of 6 years to comply with the Companies Act. Failing to produce these detailed records could leave you facing a hefty fine and potential disqualification as a Company Director. There is a considerable investment of time involved with preparing these financial records on your own, and it is often better to use a professional bookkeeping company or accountant, as according to the trade magazine Accounting Today over 40% of small businesses spend 80 plus hours annually on their accounts.
It's high time to get in touch with a bookkeeper in Crawley for guidance, if the idea of tracking assets and liabilities, filling out ledgers, preparing profit, loss and financial statements or compiling balance sheets fills you with panic.
BOOKKEEPER OR ACCOUNTANT?
A common query that's asked by a lot of small business owners in Crawley is "Just what is the difference between an accountant and a bookkeeper?" The truth is that while in past times many accountants considered the bookkeeping process to be beneath their qualifications, experience and skill-sets, a lot of accountancy companies in Crawley will now undertake the task of bookkeeping, because of massive software improvements over the past 10 years or so. It's currently quite common for accountancy companies to have a set rate for bookkeeping services in line with a dedicated bookkeeper's fee. Since it offers a broader range of competition within the marketplace, this is fantastic news for small businesses in Crawley, making the cost of their bookkeeping much more affordable than it previously was.
The standard of training that is required is the big difference between an accountant and a bookkeeper. Generally holding an accounting degree, a professional accountant should also have had additional training in tax law and have qualifications in fiscal and business management. While possibly not holding the same financial qualifications, or having this level of training and experience, a bookkeeper in Crawley will undoubtedly have a fair grasp of all such skills.
RESPONSIBILITIES OF A BOOKKEEPER IN CRAWLEY
Put simply, the act of bookkeeping is to record the daily fiscal transactions of any business in Crawley. This can include;
- Monthly reports and reconciliation.
- Payroll services.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- Logging invoices received and making sure payment is completed promptly.
- Recording of all financial incomings; cash, electronic and card payments included.
- Making sure that double-entry bookkeeping and accounting practices are followed at all times.
- VAT recording and submissions.
- The billing of clients for goods or work completed.
While it is dependent on the extent of the service you're interested in, if you are prepared to perform the larger part of the bookkeeping work yourself, a professional bookkeeper might just be needed to periodically double-check your records. To allow for any problems or mistakes to be identified and amended swiftly, this ought to be done from month to month at the bare minimum. This trade-off can sometimes be the most affordable compromise if you are able to stay up-to-date with your everyday trading and financial transactions.
There's a fair chance that if you are looking at hiring a bookkeeper in Crawley, you are currently stressed with the financial recording side of your small business. A decent bookkeeping company will be able to provide advice on everything from producing expense reports, stocktaking and invoicing, to linking the most suitable software with your accounts to enable the seamless arrangement of data.
The ability to reconcile cash flow with accounts payable, is an extremely crucial aspect of effective bookkeeping. Which means that instead of waiting for a final notice, which many small businesses are guilty of, or paying an outstanding bill immediately, your bookkeeper will prioritise bill payments to times when your finances are in the best possible position. This isn't merely to ensure your business is financially secure all the time, but also to keep you in the good books of those people who supply you with services or materials. When you are primarily focussed on running your company, this is a balancing act that you may find hard to accomplish on your own.
If you're a sole trader, or own a small business, using a competent bookkeeper in Crawley, also gives them the chance to cast an independent eye over the running of your business. This independent appraisal can permit them to notice business trends and patterns that might have otherwise gone unnoticed. A bookkeeper recognising an opportunity or noticing an area of the business where profits are dropping off, is by no means uncommon. It's important for the economic growth of any business in Crawley, to spot these key performance indicators (KPI's).
It can sometimes be quite uncomfortable to pursue late payments if your company gives out invoices. Some of that embarrassment can be taken away by having somebody outside your normal business situation make that phone call or visit to your client. A professional bookkeeper can use legal methods to take care of a consistent late or non-payer, and without the need for court proceedings, help to resolve the issue.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you are a sole trader the requirements for bookkeeping, as laid out by law, are fairly straightforward. Sole traders are required to keep a record of income and expenditure on a month by month basis and save all receipts and invoices. Now, this doesn't seem too hard does it? However, it's still recommended that you retain the services of a bookkeeper to make sure that it is all done right. A dedicated sole trader bookkeeper in Crawley can give you advice on what you can claim back from HMRC as genuine business expenses. This could include bills and rent if working from home, consumables, items such as computers, advertising expenses and stationery. Speak to your bookkeeper for more comprehensive advice and see how they can help your small business to grow and prosper.
BOOKKEEPING FOR ONLINE TRADERS IN CRAWLEY
Specialised bookkeepers are sometimes necessary for certain niches in bookkeeping. You're going to need a bookkeeper in Crawley who's familiar with exchange rate transfers, multi-currency processing, online payments and international and cross-border taxes, if you operate a store online for example. If that same shop sells goods that you produce or hold, then supervising inventory on a 24/7 basis is a massive priority, as I'm sure you will be aware the internet never sleeps, therefore nor should your bookkeeping software or services.
In conjunction with bookkeeping services, it's also possible to establish a virtual office. This enables a sole trader or online only business to have a telephone service and postal address to provide a physical connection to their customers. Although this solution might not be supplied by all bookkeeping companies in Crawley, it's definitely worth talking about the possibilities if this is something that could be beneficial.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A number of the bookkeeping qualifications are at Diploma and Certificate level, and it's not mandatory for a qualified bookkeeper in Crawley to hold an accounting degree. Although there are an ever-growing choice of courses available online, bookkeeping qualifications can still be gained through further education universities and colleges, if that is the chosen route.
Representing bookkeepers, there are 2 principal training and certification organisations:
The Association of Accounting Technicians or AAT: With fully trained bookkeepers entitled to use the letters AATQB, the Association of Accounting Technicians (AAT) provides advanced qualifications and a training schedule. This guarantees a certain standard of service to their clients which is backed by the association, and permits them to become a authorised AAT bookkeeper. 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 to preserve the integrity of the aat.
The Institute of Certified Bookkeepers or ICB: The largest organisation of its kind on the planet is the the Institute of Certified Bookkeepers or ICB, and it provides accreditation to certified bookkeepers, together with reference material and training to keep their associated members up-to-speed with the latest trends and innovations.
By visiting their websites, you are able to inspect the register of ICB or ATT members, to confirm the qualifications of any bookkeeper in Crawley. It is generally a good idea to perform this check, before you employ any professional bookkeeper in Crawley.
Bookkeeping services are available in Crawley and also in: Langley Green, Gossops Green, Rowfant, Maidenbower, Three Bridges, Furnace Green, Southgate, Broadfield, West Green, Ifield, Charlwood, Bewbush, Tilgate, Pound Hill, Northgate, as well as in these postcodes RH10 0AQ, RH10 0HF, RH10 0EA, RH10 0XD, RH10 0JY, RH10 0GB, RH10 0GW, RH10 1AQ, RH10 0DW, RH10 0FN. Local Crawley bookkeeper services will probably have the postcode RH10 and the telephone dialling code 01293. Checking this out can make certain that you access locally based bookkeepers. Crawley sole traders and business owners can benefit from these and countless other related services.
Financial statement preparation.
Crawley Bookkeeper Tasks
Most Crawley bookkeepers will be able to offer you the following bookkeeping and accounting services: cheap bookkeeping services in Crawley, management reports, bookkeeping services for pubs, business bookkeeping, wages & PAYE in Crawley, independent bookkeeping services, bookkeeping for limited companies, Kashflow bookkeeping services, bookkeeping for clubs in Crawley, payment services, bookkeeping for freelancers, maintaining fixed asset registers, bookkeeping services for tradesmen Crawley, cash flow analysis, invoice processing Crawley, tax preparation, bookkeeping for organisations, bookkeeping services for societies, bookkeeping services for charities, professional bookkeeping services, bookkeeping services, Self-Assessment tax returns Crawley, accountancy packages, profit & loss reports, credit control, bookkeeping for payroll, double-entry bookkeeping, Quickbook bookkeeping in Crawley, bookkeeping and accounting Crawley, bookkeeping services for shops, and more. Listed are just a handful of the duties that are handled by local bookkeepers. Crawley companies will tell you about their full range of bookkeeping services. If there are different Crawley bookkeeper requirements that you need but cannot see here, you can easily list them on the QUOTE FORM provided. We will get back to you with specifics as soon as we are able.
Crawley Bookkeeper Questions
In the past few months I have been reviewing the most common questions folks in Crawley ask on the topic of bookkeeping. Quite a few of our visitors sent in insightful enquiries that I thought might be applicable to this blog post. Those that I singled out are, What are accountant bookkeepers? Why is bookkeeping important? How much does a bookkeeper charge per hour? Should I use a bookkeeper or an accountant? Should a bookkeeper have insurance? When is single-entry bookkeeping used? What qualifications does a bookkeeper need? What are the advantages of a bookkeeper over an accountant? When should I outsource bookkeeping? The vast majority of these queries have hopefully been addressed on this page, and if some remain unanswered a bookkeeping "Q&A" section is something we'll be adding before long. Our gratitude goes out to David Morgan, Brooklyn Gregory, Cayden Nash and Kayla Little, for making the effort to pose these excellent questions. We also received questions from Hazel Hooper in Tilgate, Parker Wild in West Green and Abigail Crook in Rowfant.
Bookkeepers Near Crawley
Also find: Pound Hill bookkeepers, Langley Green bookkeepers, Tilgate bookkeepers, Northgate bookkeepers, Charlwood bookkeepers, Furnace Green bookkeepers, Gossops Green bookkeepers, Southgate bookkeepers, Bewbush bookkeepers, West Green bookkeepers, Maidenbower bookkeepers, Broadfield bookkeepers, Three Bridges bookkeepers, Ifield bookkeepers, Rowfant bookkeeper and more. The majority of these towns and villages are serviced by local bookeepers. Crawley businesses can get prices for bookkeeping services by clicking here.
Bookkeeping Services Crawley
- Tax Preparation
- Sole Trader Bookkeeping
- Small Business Bookkeeping
- Self-Assessment Bookkeeping
- Cheap Bookkeeping
- Payroll Services
- Double-Entry Bookkeeping
- Accountancy Packages
- Bookkeeping Estimates
- Wages and PAYE
- Tax Returns
- Profit and Loss Reports
- Bookkeeping Services
- VAT Returns
More West Sussex Bookkeepers: More West Sussex bookkeepers: Bognor Regis, Southwick, Burgess Hill, Hurstpierpoint, Crawley, Lancing, Southwater, Rustington, Worthing, Horsham, Haywards Heath, Chichester, Shoreham-by-Sea, Littlehampton and East Grinstead.
To read local Crawley information click here
Bookkeeping Jobs Crawley: Browse bookkeeping jobs in Crawley by clicking here: Crawley Bookkeeping Jobs
Bookkeepers in RH10 area, and dialling code 01293.
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