Bookkeepers Dunstable Bedfordshire (LU5): If you run an online store, operate a small business or are a sole trader in Dunstable, you are entirely responsible for keeping accurate, "true and fair" financial and accounting records for at least six years as stated by the Companies Act. You could be disqualified as a Company Director and receive a fine of thousands of pounds, if you are unable to produce this information. There is a large investment of time involved with keeping such financial records yourself, and it can pay to use a professional bookkeeping company or accountant, especially when you consider that according to Accounting Today magazine over forty percent of small business owners spend over 80 hours every year on their bookkeeping.
If you are overcome with a sense of dread merely thinking about the possiblility of producing balance sheets, tracking liabilities and assets, creating profit, loss and fiscal reports or filling out ledgers, then the time to get in touch with a bookkeeper in Dunstable for guidance has arrived.
BOOKKEEPER OR ACCOUNTANT?
The very first question that most small business owners ask is "Precisely what is the difference between an accountant and a bookkeeper?" In truth, because of substantial software improvements over the past ten years or so many accountants in Dunstable will undertake bookkeeping, which was at one time considered beneath their qualifications, experience and skill-sets. For many accountancy companies it is now quite common to charge a set rate for bookkeeping services, to keep them commensurate with the usual fees of a typical bookkeeper in Dunstable. This is fantastic news for business owners in Dunstable since it provides a wider range of competition within the marketplace and can make the cost of your bookkeeping cheaper than initially thought.
When considering the big difference between a bookkeeper and an accountant in Dunstable, it's the standard of training and qualification that is needed for each of these disciplines. An accountant will typically hold at least an accounting degree with additional training in the field of taxation and other business and fiscal management. Whilst having a good understanding of these skills, a bookkeeper in Dunstable may not necessarily have these qualifications or levels of training and experience.
A BOOKKEEPER'S RESPONSIBILITIES
The process of bookkeeping put in the simplest of terms, is the recording of the day to day monetary transactions of any business enterprise in Dunstable. This can include, but isn't limited to;
- Logging the receipt of invoices and making certain that payment is completed punctually.
- Billing of clients for goods or work completed.
- Payroll services.
- VAT submissions and recording.
- Recording of all financial incomings; including cash, card and electronic payments.
- Monthly reconciliations and reports.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Making sure that double-entry bookkeeping and accounting practices are implemented.
Based on service level you require, e.g. whether you're willing to undertake the bulk of your bookkeeping work; a professional bookkeeper might only be necessary for double-checking your records on a fixed schedule. At the bare minimum this should really be done from month to month, to enable the swift detection and rectifying of any mistakes or problems. So long as you are confident of keeping in control of your monetary transactions without affecting your everyday business activities, this option can be the most cost-effective trade-off.
Whatever your situation, if you're looking to hire a bookkeeper in Dunstable, it's a good bet that you may be having problems with the financial recording aspects of your small business. A good bookkeeping service will be able to help you to link the latest software with your business accounts to enable the seamless processing of financial data, and will give advice on such things as invoicing, producing expense reports and stocktaking.
The reconciliation of cash flow with accounts payable is one of the most important elements of a good bookkeeping service. This means that by scheduling bill payments to times when your finances are buoyant and in good order, your bookkeeper will avoid the mistake that a lot of small businesses in Dunstable are guilty of i.e. paying off a bill immediately, or waiting on an overdue notice. Along with keeping your enterprise or business on a good financial footing, this also keeps you in favour with service providers and suppliers. When you are mostly focussed on the operation of your business, this is a balancing act that can be difficult to accomplish as an individual.
If you are a sole trader, or run a small business, employing a professional bookkeeper in Dunstable, also gives them an opportunity to cast an unrelated eye over the operation of your business. This impartial assessment can permit them to discover business trends and patterns that you might have overlooked. A situation where a keen eyed bookkeeper flags an area where profits are falling, or identifies an opportunity which could prove worthwhile, is not at all an unusual occurrence. For the long-term growth of any enterprise in Dunstable, it is vital that these key performance indicators (KPI's) are spotted as early as possible.
If invoices are sent out by your company it can sometimes be embarrassing to chase up late payments. If that visit to your clients or phone call is carried out by a professional outside your business bubble, it's possible for most of that embarrassment to be taken away. A bookkeeper can make use of legal procedures to deal with a repeating late payer, and without having to resort to claims court proceedings, help to resolve the issue.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you are a sole trader the bookkeeping requirements, as set out in law, start off quite straightforward. Essentially, sole traders must retain all invoices and receipts, and keep a record of income and expenditure on a monthly basis. It's still recommended that you hire the expert services of a competent bookkeeper, even though this may sound easy. So that you will be able to claim back all legitimate business expenses from HMRC, a professional sole trader bookkeeper in Dunstable will be able to advise you on what needs to be done. This might include consumables, stationery, items such as laptops, rent and bills if you work from home and advertising expenses. To discover how to help your business to grow, talk to a trusted bookkeeper for more in-depth advice and guidance.
ONLINE TRADERS IN DUNSTABLE
There are various niche businesses where a specialist bookkeeping service could be required. If, for instance, you manage an online store, you're going to need a bookkeeper in Dunstable who understands online payment procedures, multi-currency processing, exchange rate transfers and international and cross-border taxes. If the same shop sells goods you produce or hold, then overseeing your inventory on a 24 hours a day basis is a massive priority, as I'm sure you will appreciate the internet never sleeps, therefore neither should your bookkeeping services and software.
Together with your bookkeeping services, a remote virtual office can also be supplied. This enables an online only business or sole trader to provide a physical connection to their customers, via a phone service and postal address. If this sort of service could be useful, it is definitely worth discussing the possibilities, although this solution will not be offered by all Dunstable bookkeepers.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified bookkeeper in Dunstable doesn't need to have a degree and a lot of the industry qualifications are at Diploma and Certificate level. Qualifications can be gained through further education colleges and universities but there is also an ever-growing range of courses available online.
Training and certification for bookkeepers is mainly provided by 2 organisations:
The Association of Accounting Technicians or AAT: Entitled to use the letters AATQB after their name, a fully trained member of the AAT or Association of Accounting Technicians will have completed advanced qualifications and training in bookkeeping. They're then entitled to become licensed AAT bookkeepers, which promises their customers a minimum level of service which is backed by the organisation. To protect the integrity and values of the AAT membership, if a bookkeeper who is associated with the AAT is found to have contravened the code of practice or has a complaint filed against them, they may be liable to tribunal and disciplinary procedures.
The ICB or Institute of Certified Bookkeepers: The ICB or Institute of Certified Bookkeepers is the largest in the world and provides certification for bookkeepers, along with training and reference material to keep their associated members up-to-date.
The qualifications of any professional Dunstable bookkeeper can be checked on the register of ICB or ATT members on their respective websites. Performing these checks is always advisable before you actually employ any local bookkeeper in Dunstable.
Bookkeeping services are available for those living in in Dunstable and also nearby in: Edlesborough, Beecroft, Lewsey Farm, Totternhoe, Kensworth, Chaul End, Tebworth, Chalton, Hockliffe, Caddington, Eaton Bray, Skimpot, Slip End, Sewell, Battlesden, Leagrave, Sundon, Whipsnade, Stanbridge, Downside, together with these postcodes LU5 4JS, LU5 4AA, LU5 4QY, LU5 4NL, LU5 4GE, LU5 4HR, LU5 4AE, LU5 4QR, LU5 4PP, LU5 4QD. Locally based Dunstable Bookkeepers will probably have the postcode LU5 and the telephone code 01582. Checking this out can ensure you access local bookkeepers. Dunstable sole traders and business owners are able to benefit from these and various other comparable services.
Bookkeeping Dunstable - Outsourcing Options
All businesses in Dunstable should understand the significance of bookkeeping. It helps business people monitor the money left in their bank account, the sum total of their liabilities and assets, their incomings and outgoings, and more. With the business owner having to contend with a lot of concerns and issues while running a business, the task of doing the bookkeeping is often outsourced to a bookkeeping company or freelance bookkeepers in Dunstable.
If a company in Dunstable employs a bookkeeper so as to become an employee, the company will need to fork out a considerable amount of money in training the person for the purpose of carrying out the bookkeeping work. Furthermore, there's no guarantee that the person will stay for long in the company. In circumstances like that, the company will have squandered a substantial amount of money for very little return. Apart from that, companies will have to seek out solutions to provide incentives and benefits to keep the fully trained employee in house. These are a few of the reasons behind business organisations enlisting the services of professional bookkeepers and bookkeeping companies in Dunstable.
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 Dunstable. A majority of these companies promise and deliver quality service. It assumes importance for a business to look into the track record of these Dunstable bookkeeping companies when it comes to hiring a third party company for bookkeeping purposes.
These professional bookkeeping companies in Dunstable 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.
Franchise bookkeeping Dunstable.
Dunstable Bookkeeper Tasks
Most Dunstable bookkeepers will be willing to offer you the following services: mobile bookkeeping services Dunstable, invoice processing, accounting and bookkeeping, professional bookkeeping services Dunstable, Sage bookkeeping, bookkeeping for limited companies in Dunstable, profit & loss reports, landlord bookkeeping Dunstable, bookkeeping services for pubs, charity bookkeeping Dunstable, PAYE & wages, bookkeeping for shops, bookkeeping services for retail outlets, management accounts, QUOTE FORM provided. We will be in touch with details as soon as we can., bookkeeping services for charities, maintaining fixed asset registers in Dunstable, bank reconciliations, corporation tax returns, bookkeeping services for tradesmen in Dunstable, VAT returns, general bookkeeping services, cash books, Xero bookkeeping Dunstable, letting agent bookkeeping Dunstable, bookkeeping services for restaurants Dunstable, cash flow analysis, Dunstable, and more. Listed are just an example of the duties that are undertaken by local bookkeepers. Dunstable companies will be happy to inform you of their full range of services. If there are different Dunstable bookkeeper requirements that you need but don't see here, you can easily mention them on the
Bedfordshire Bookkeeping Enquiries
Recently posted Bedfordshire bookkeeping enquiries: Judah Wickens from Riseley was hunting for bookkeeping services for his woodworking business. Aniya Foulkes in Chicksands, Bedfordshire was interested in a bookkeeper for her fashion company. Andre Joyce from Biddenham, Bedfordshire was hunting for bookkeeping services for his pub. Eliana Towers in Caddington was enquiring about bookkeeping for her wedding planning business. Mathew Perry from Harlington was searching for a bookkeeper for his book club. Pearl Eden from Chicksands, Bedfordshire was searching for bookkeeping services for her french lessons business. Evelyn Parker in Harrold was enquiring aboutfor her tea shop. Marc Ballantyne was looking for for his franchise business located in Campton, Bedfordshire. These local customers did a search for "Bookkeepers Bedfordshire" and discovered this webpage on either Yahoo, Google or Bing.
Dunstable Bookkeeper Questions
In the past week or so I have been analysing the questions folks in Dunstable ask with regards to bookkeeping. A number of you have mailed in some noteworthy queries that I thought would be relevant to this article. The most pertinent ones seemed to be, Can you do bookkeeping on excel? What does bookkeeping involve? How can I get bookkeeper in Dunstable? How is bookkeeping differentiated to accounting? How much do bookkeeping services cost? Why would a business need a bookkeeper? What are the benefits of a bookkeeping services? What are a bookkeeper's duties? Does a bookkeeper have to be registered? Hopefully nearly all of these enquiries have been answered somewhere on this page, and if that is not the case a bookkeeping "Q&A" section is presently being created. Thanks to Matthew Bell, Nico Kerr, Reagan Duncan and Rose Mclean from Dunstable, for submitting these great questions. It was also good to receive questions from Valerie Bibi in Sewell, Roman Rigby in Stanbridge and Hazel Irving in Skimpot.
Bookkeepers Near Dunstable
Also here.: Stanbridge bookkeepers, Chalton bookkeepers, Hockliffe bookkeepers, Edlesborough bookkeepers, Whipsnade bookkeepers, Beecroft bookkeepers, Sewell bookkeepers, Caddington bookkeepers, Skimpot bookkeepers, Leagrave bookkeepers, Kensworth bookkeepers, Sundon bookkeepers, Lewsey Farm bookkeepers, Chaul End bookkeepers, Battlesden bookkeepers, Totternhoe bookkeepers, Tebworth bookkeepers, Eaton Bray bookkeepers, Downside bookkeepers, Slip End and more. All of these areas are served by local bookeepers. Dunstable residents can get rates for bookkeeping services by going
- Dunstable Bookkeeping Services
- Dunstable Sole Trader Bookkeeping
- Dunstable Cash Flow Solutions
- Dunstable Cheap Bookkeeping
- Dunstable Bookkeeping Estimates
- Dunstable PAYE Wages and CIS
- Dunstable Payroll Services
- Dunstable Self-Assessment Bookkeeping
- Dunstable Profit and Loss Reports
- Dunstable Small Business Bookkeeping
- Dunstable Double-Entry Bookkeeping
- Dunstable Accountancy Packages
- Dunstable Tax Preparation
- Dunstable VAT Returns
Bookkeepers Around Dunstable: People living in these local Dunstable streets have just recently enquired about bookkeeping services - Tennyson Avenue, Burr Street, Stivers Way, Sunbower Avenue, Bullpond Lane, The Cheveralls, Bowmans Way, Aldbanks, St Leonards Way, Duchess Court, Shelton Avenue, Beech Road, The Grange, Buttermere Avenue, Angels Lane, Brierley Close, The Cleavers, Bidwell Close, Brewers Hill Road, Badgers Gate, Bowles Way, Brook Street, Candale Close, Derwent Drive, The Lindens, Ashtree Road, Chiltern Court, as well as these local Dunstable postcodes: LU5 4JS, LU5 4AA, LU5 4QY, LU5 4NL, LU5 4GE, LU5 4HR, LU5 4AE, LU5 4QR, LU5 4PP, LU5 4QD.
Dunstable Bedfordshire (Beds): The market town of Dunstable can be found in the county of Bedfordshire (Beds) in the Eastern region of Great Britain. Dunstable is approximately 30 miles from London and 5 miles from Luton, towns and villages close by include Slip End, Kensworth, Beecroft, Whipsnade, Skimpot, Sundon, Tebworth and Stanbridge. Dunstable has the telephone dial code 01582, is in the postcode district LU5 to LU6 and has a population of around 36,000. Dunstable is the 3rd largest town in Beds. (Tags: Dunstable Beds, Dunstable UK, Dunstable England, Dunstable Bedfordshire)
Bookkeeping Jobs Dunstable: Find bookkeeping jobs near Dunstable here: Bookkeeping Jobs Dunstable
Bookkeepers in LU5 area, (dialling code 01582).
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