Bookkeepers Dunstable Bedfordshire (LU5): You're responsible for keeping "true and fair", accurate accounting and financial records for at least 6 years, if you own a small business, are a sole trader or operate an online store in Dunstable, according to the 2006 Companies Act. You may face a hefty fine, and possibly disqualification as a Company Director, if you are unable to produce such information. There is a large time investment involved with maintaining these financial records yourself, and it can be more cost-effective to use a professional bookkeeping service or accountant, since according to the magazine Accounting Today over forty percent of small business owners spend over 80 hours annually doing their accounts.
It is time to contact a bookkeeper in Dunstable for advice and guidance, if the very thought of preparing profit, loss and financial statements, producing balance sheets, writing out ledgers or tracking liabilities and assets fills you with a sense of panic.
BOOKKEEPER OR ACCOUNTANT?
The first question that most small business owners ask is "What exactly is the distinction between a bookkeeper and an accountant?" The truth is that while in the past many accountants considered the task of bookkeeping to be beneath their experience, skill-sets and qualifications, a lot of accountancy companies in the Dunstable area will now take on most bookkeeping duties, due to software developments over the past decade or so. It's currently quite common for accountancy firms to charge a set rate for bookkeeping services in line with an independent bookkeeper's fee. Business owners are now cashing in on this, since it provides a wider range of competition within this sector and can make bookkeeping more manageable than it would have been previously.
It is essentially the standard of qualification and training that is required for each discipline, that illustrates the biggest difference between a bookkeeper and an accountant in Dunstable. An accountant will generally hold at least an accounting degree with specialist training in taxation and other business and fiscal management. Althoughin Dunstable will definitely have a fair grasp of these procedures, they may not necessarily have these qualifications or levels of experience and training in this field.
RESPONSIBILITIES OF A BOOKKEEPER IN DUNSTABLE
The bookkeeping process in simple terms, is to record the day by day transactions of any enterprise or business in Dunstable. This is likely to include, but is in no way limited to;
- Payroll services.
- Billing of customers for goods or work completed.
- VAT recording and submissions.
- Making sure that accounting and double-entry bookkeeping practices are followed at all times.
- Monthly reporting and reconciliation.
- Recording the receipt of invoices and making certain payment is completed on time.
- Logging of all financial incomings; card, electronic and cash payments included.
- Highlighting any discrepancies in the financial accounts and rectifying them.
Contingent upon service level you're looking for, e.g. you're able to carry out the larger part of your bookkeeping work; a bookkeeper may only be necessary for double-checking your figures on a fixed schedule. So that any problems or mistakes can be detected and corrected swiftly, at the bare minimum, this really needs to be done from month to month. This trade-off can often be the most cost-effective compromise if you're confident of remaining up-to-date with your day to day trading and financial transactions.
Whatever the scenario is with your company or small business, if you're seriously looking to hire a bookkeeping company in Dunstable, it's a good bet that you might be having problems with the process of recording your financial transactions. A professional bookkeeper will be able to offer advice on everything from stocktaking, invoicing and generating expense reports, to linking your business accounts with the most up-to-date software program to facilitate the seamless arrangement of data.
The effective reconciliation of accounts payable with cash flow is one of the most crucial elements of good bookkeeping. This means that by arranging the payment of bills to a time when your finances are buoyant and in good shape, your bookkeeper will avoid the thing that many small businesses in Dunstable are guilty of at some time or other i.e. paying an outstanding bill immediately, or waiting for an overdue notice. This isn't just to make sure that your business enterprise is on a good financial footing all the time, but also to keep you in the good books of the businesses who supply you with services or materials. When, as an individual, you are completely focussed on the smooth running of your everyday business activities, this can be a balancing act that's difficult to accomplish.
Having an individual who is not affiliated with the business cast an unrelated eye over your financial transactions, is another added benefit of employing a certified bookkeeper in Dunstable for your small business or if you're a sole trader. This unprejudiced evaluation can enable them to discover business patterns and trends that might have gone unnoticed. A bookkeeper spotting an opportunity or flagging up an area which is dropping in profits, is by no means uncommon. Spotting such KPI's (key performance indicators) is important for powering growth in any small business in Dunstable.
If you give out invoices as part of your business operations, needing to pursue a late payment can be really awkward. Some of that awkwardness can be taken away by having someone outside your business situation visit your customers or make that phone call. To help deal with the matter, if you are troubled with a repeating late or non-payer, there are methods that can be employed by a bookkeeper, so that court proceedings can be averted.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
As a sole trader the requirements for bookkeeping, as set out in law, start off comparatively straightforward. Sole traders are required to keep a record of expenditure and income from month to month and retain all invoices and receipts. It's still good practice to hire the expert services of a competent bookkeeper, even if this might at first sound simple. So that you can claim back any valid business expenses from HMRC, a dedicated sole trader bookkeeper in Dunstable can give you advice on what you have to do. This may include bills and rent if working from home, printer ink, items such as laptops, advertising and stationery. To discover how they can help your small business to prosper and grow, speak to a trusted bookkeeper for more detailed advice.
BOOKKEEPING FOR ONLINE TRADERS IN DUNSTABLE
Certain businesses that work in niche areas, may need to hire a specialised bookkeeping service. If multi-currency processing, online payments, exchange rate transfers and cross-border and international taxes are involved, for instance if you manage a store online, you will want to hire a bookkeeper in Dunstable who is familiar with these practices. If the same outlet sells goods that you hold or produce, then regulating stock on a 24/7 basis is a vital concern, as I'm sure you're aware the internet doesn't sleep, therefore neither should your bookkeeping software or services.
It's also possible to provide a virtual office, which can be utilised together with your bookkeeping package. This allows a sole trader or online only business to have a postal address and phone service to offer a physical connection to their customers. Although this option might not be offered by all bookkeeping businesses in Dunstable, it is definitely worth talking about the possibilities if this service is something which is needed.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified bookkeeper in Dunstable needn't have a university degree and a great many qualifications in this field are at Diploma or Certificate level. If the chosen route to qualification is through further education universities and colleges, this is still a possibility, whereas there there's a choice of online bookkeeping courses.
There are basically 2 main organisations that offer training and certification to bookkeepers:
The ICB or Institute of Certified Bookkeepers: Offering accreditation to qualified bookkeepers, in addition to reference material and training to keep their associated members up-to-speed with the latest trends and innovations, the Institute of Certified Bookkeepers or ICB is the largest bookkeeping organisation anywhere in the world.
The Association of Accounting Technicians (AAT): Able to use the letters AATQB after their name, a fully trained member of the AAT or Association of Accounting Technicians will have been provided with a training schedule and advanced qualifications in bookkeeping. They then become accredited AAT bookkeepers, backed up by this reputable association, which assures a decent level of service for their clients. To protect the integrity of the AAT, if a bookkeeper who is a member of the AAT has a complaint against them or is found to have breached the code of practice they can be subject to disciplinary and tribunal processes.
By visiting their respective websites, it's possible to check out the register of AAT or ICB members, to verify the accreditations of any bookkeeper. Carrying out such checks is usually a good idea before you actually hire any professional bookkeeper in Dunstable.
Bookkeeping services are available in Dunstable and also nearby in: Hockliffe, Leagrave, Whipsnade, Slip End, Chaul End, Chalton, Downside, Lewsey Farm, Sundon, Beecroft, Kensworth, Stanbridge, Skimpot, Totternhoe, Battlesden, Edlesborough, Caddington, Markyate, Toddington, Eaton Bray, Tebworth, Sewell, as well as in these postcodes LU5 4RJ, LU5 4RG, LU5 4RT, LU5 4AP, LU5 4DT, LU5 4QX, LU5 4PZ, LU5 4HP, LU5 4PE, LU5 4QY. Locally based Dunstable bookkeeper services will likely have the telephone code 01582 and the postcode LU5. Checking this can guarantee you are accessing locally based bookkeepers. Dunstable sole traders and business owners are able to utilise these and numerous other bookkeeping related services.
Dunstable Bookkeeper Tasks
Most bookkeepers in Dunstable will be able to provide you with the following bookkeeping services: bookkeeping services for shops, general bookkeeping services in Dunstable, bookkeeping services for limited companies, bookkeeping services for charities, personal tax returns Dunstable, QUOTE FORM provided. We will get back to you with details just as soon as we are able.in Dunstable, bookkeeping for clubs Dunstable, payment services Dunstable, credit control Dunstable, tax returns Dunstable, business bookkeeping, accountancy packages, bookkeeping for freelancers, profit & loss reports, accounting and bookkeeping services in Dunstable, management reports Dunstable, franchise bookkeeping Dunstable, tax preparation, mobile bookkeeping services, bookkeeping for payroll Dunstable, double-entry bookkeeping, Sage bookkeeping services, , bookkeeping for startups in Dunstable, invoice processing, bookkeeping services, maintaining fixed asset registers, bookkeeping for home-based businesses, Quickbook bookkeeping services, Kashflow bookkeeping services, and more. Listed are just a few of the activities that are accomplished by local bookkeepers. Dunstable companies will let you know their full range of bookkeeping services. If there happen to be different Dunstable bookkeeper requirements that you need but cannot see here, you can list them on the
Bookkeepers Near Dunstable
Also here.: Downside bookkeepers, Leagrave bookkeepers, Stanbridge bookkeepers, Slip End bookkeepers, Sewell bookkeepers, Caddington bookkeepers, Chalton bookkeepers, Edlesborough bookkeepers, Beecroft bookkeepers, Markyate bookkeepers, Eaton Bray bookkeepers, Lewsey Farm bookkeepers, Whipsnade bookkeepers, Battlesden bookkeepers, Kensworth bookkeepers, Chaul End bookkeepers, Toddington bookkeepers, Tebworth bookkeepers, Totternhoe bookkeepers, Skimpot bookkeepers, Sundon bookkeepers, Hockliffe and more. The majority of these villages and towns are covered by local bookeepers. Dunstable residents can get quotes for bookkeeping services by going
- Dunstable Sole Trader Bookkeeping
- Dunstable Credit Control
- Dunstable VAT Returns
- Dunstable Bank Reconciliations
- Dunstable Payroll Services
- Dunstable Tax Preparation
- Dunstable Bookkeeping Services
- Dunstable Tax Returns
- Dunstable Self-Assessment Bookkeeping
- Dunstable Cash Flow Analysis
- Dunstable Small Business Bookkeeping
- Dunstable Cheap Bookkeeping
- Dunstable Double-Entry Bookkeeping
- Dunstable Bookkeeping Quotations
Bookkeepers Around Dunstable: People who live in the following Dunstable roads and areas have recently enquired about bookkeeping services - Cumbria Close, Byfield Close, Broughton Avenue, Suncote Close, Aldbanks, Brookfield Park, Arenson Way, Conway Close, Churchill Road, Borrowdale Avenue, Beale Street, Southfields Road, Brightwell Avenue, Tithe Farm Road, Allen Close, Safron Court, Booth Place, Ashtree Road, The Nurseries, Conger Lane, St Leonards Way, The Rye, Thornhill Close, Castle Close, Barrie Avenue, Coral Close, Barleyfield Way, Cooks Meadow, Christian Close, Bibshall Crescent, as well as these local Dunstable postcodes: LU5 4RJ, LU5 4RG, LU5 4RT, LU5 4AP, LU5 4DT, LU5 4QX, LU5 4PZ, LU5 4HP, LU5 4PE, LU5 4QY.
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Dunstable Beds (Bedfordshire): The market town of Dunstable is located in the Eastern area of England in the county of Bedfordshire. Dunstable is around 5 miles from Luton and 30 miles from London, neighbouring places include Caddington, Skimpot, Lewsey Farm, Beecroft, Sewell, Hockliffe, Totternhoe and Downside. Dunstable has a population of around 36,000, has the dialling code 01582 and has the postcode LU5 to LU6. Dunstable is the third largest settlement in the county of Bedfordshire. (Tags: Dunstable Beds, Dunstable UK, Dunstable England, Dunstable Bedfordshire)
Bookkeepers in LU5 area, (dialling code 01582).
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