Bookkeepers Durham County Durham (DH1): Regardless of whether you own a small business, are a sole trader or run an online store in Durham, you're responsible for keeping "true and fair", accurate accounting and financial records for at least 6 yrs to comply with the Companies Act. If you're unable to produce these records you could face thousands of pounds in fines and possible Company Director disqualification. The trade magazine Accounting Today claims that over 40% of small businesses spend at least eighty hours every year doing their bookkeeping, therefore whilst you can undertake these financial records on your own, it can pay you to employ a professional bookkeeping company or accountant to do them for you.
The time has come to get in touch with a bookkeeper in Durham for guidance and advice, if you're filled with panic simply thinking about the possiblility of compiling balance sheets, tracking assets and liabilities, filling out ledgers or preparing profit, loss and fiscal reports.
BOOKKEEPER OR ACCOUNTANT?
Just what is the difference between an accountant and a bookkeeper is the first question that many people in Durham ask. The fact is that while in the past the bookkeeping process, was deemed beneath the experience, qualifications and skill set of an accountant, due to tremendous software improvements over the past decade, many accountancy firms in the Durham area will now undertake bookkeeping. To keep their bookkeeping services in step with a dedicated bookkeeper's fee, it is now fairly common for many accounting companies to have a fixed fee for these services. This means the cost of bookkeeping is much more manageable than it previously was, and is great news for small businesses in Durham since it provides a broader range of competition within the industry.
The amount of qualification and training that is needed is the main difference between a bookkeeper and an accountant. An accountant will, at the minimum, hold an accounting degree, and will have also had additional training in financial and business management, and taxes. While having a decent understanding of these disciplines, a bookkeeper in Durham may not have the qualifications or levels of training and experience.
RESPONSIBILITIES OF A BOOKKEEPER IN DURHAM
Essentially, the bookkeeping process is the recording of the day by day financial transactions of any business enterprise in Durham. This can include, but is not limited to;
- Highlighting any discrepancies in financial accounts and rectifying them.
- Logging of all financial incomings; card, cash and electronic payments included.
- Logging the receipt of invoices and making certain that payment is completed promptly.
- Monthly reconciliation and reporting.
- Billing of clients for work completed or goods.
- Payroll services.
- VAT recording and submissions.
- Making sure that double-entry bookkeeping and accounting practices are implemented.
In accordance with the level of service you require, a professional bookkeeper may only be needed to double check your records every so often, if you're willing to undertake a large majority of bookkeeping work yourself. This should really be done from month to month as a bare minimum, as this allows for any mistakes or problems to be uncovered and amended quickly. Providing you are confident of remaining up-to-date with your monetary transactions without impacting on your day to day trading operations, this option can be the most economical solution.
It's a good bet that if you are looking to hire a bookkeeping firm in Durham, you are currently fretting over the financial recording aspects of your small business. A decent bookkeeping company will be able to offer assistance with everything from generating expense reports, invoicing and stocktaking, to linking your business accounts with the latest, most up-to-date computer software to allow the seamless organisation of transactional data.
One of the most vital aspects of good bookkeeping, is the ability to successfully reconcile cash flow with accounts payable. Which means that your bookkeeper will prioritise the payment of bills to a time when your finances are buoyant, instead of paying an outstanding bill immediately, or waiting on a final notice, which a lot of small businesses in Durham are guilty of. This does not just keep your business enterprise on a sound financial footing, but keeps you in favour with suppliers and those people who provide you with services. When you are firmly focussed on the smooth running of your company, this is a balancing act that can be tough to accomplish on your own.
For your small business enterprise, or if you're a sole trader, using a certified bookkeeper in Durham, presents you with an opportunity to have an independent eye cast over your financies. It's quite possible that an unbiased appraisal like this will pinpoint business patterns and trends that you haven't previously noticed. It's by no means uncommon for a keen eyed bookkeeper to flag up an area where profits are decreasing, or spot an opportunity which could be worth looking into. Such key performance indicators (KPI's) are essential in driving growth for any business enterprise in Durham.
It can sometimes be quite humiliating to chase up a late payment if your company gives out invoices. If that telephone call or visit to your customers is made by someone outside your business situation, it's possible for most of that apprehension to be removed. A bookkeeper can make use of legal options to deal with a persistent late payer, and without the need for court proceedings, help to clear up the matter.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you are a sole trader the requirements for bookkeeping, as laid out by law, are relatively straightforward. In essence, sole traders should save all receipts and invoices, and keep track of expenditure and income on a month by month basis. It's still recommended that you retain the expertise of a bookkeeper, although this may sound simple. Offering advice on what valid business expenses you can claim back, a specialist sole trader bookkeeper in Durham will deal with HMRC on your behalf. This could include stationery goods, consumables, promotional advertising, items such as computers and rent and bills if you work from home. To learn how to help your business to grow and prosper, speak to your bookkeeper for more comprehensive advice.
ONLINE TRADERS IN DURHAM
Certain businesses that operate in niche markets, might need to employ a specialist bookkeeping service. By way of example, if you run a store online, you'll be wise to employ a bookkeeper in Durham who understands international and cross-border taxes, multi-currency processing, exchange rate transfers and online payments. Keeping track of your stock on a 24 hours a day basis is also an important concern, if that same outlet distributes goods that you hold or produce, as I'm sure you are aware the internet never sleeps, so nor should your bookkeeping services and software.
In conjunction with bookkeeping services, a virtual office can also be provided. Offering a physical connection to their customers, this enables an online only business or sole trader to have a postal address and telephone service. It is definitely worth talking about this possibility if it's something that could be of benefit, although not all bookkeeping businesses in Durham will offer this service.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A number of the bookkeeping qualifications are at Certificate and Diploma level, and it is not mandatory for a qualified Durham bookkeeper to have a degree in accounting. Although there are an ever-increasing number of courses available online, bookkeeping qualifications can still be obtained via further education universities and colleges, if that's the chosen route.
There are two principal certification and training organisations which represent bookkeepers:
The AAT or Association of Accounting Technicians: The Association of Accounting Technicians or AAT provides a training schedule with advanced qualifications entitling fully certified bookkeepers to use the letters AATQB. This assures a high level of service to their clients which is backed up by the organisation, and enables them to become a licensed AAT bookkeeper. If a bookkeeper who's affiliated with the AAT has a complaint filed against them or is found to have violated the code of conduct they could be subject to tribunal and disciplinary procedures to protect the integrity of AAT membership.
The Institute of Certified Bookkeepers (ICB): Keeping their associated members current with the latest trends, the Institute of Certified Bookkeepers or ICB is the largest bookkeeping organisation anywhere in the world, providing accreditation to certified bookkeepers, in addition to training and reference material.
By going to their respective websites, you can check the register of ICB or ATT members, to find the accreditations of any professional Durham bookkeeper. Prior to hiring the services of any bookkeeping company in Durham, it is clearly a wise idea to carry out these necessary checks.
Bookkeeping services are available in Durham and also in: Houghall, Sherburn, Broompark, Bishop Aukland, Chester le Street, Brancepeth, Croxdale, Dragonville, High Pittington, Bearpark, as well as in these postcodes DH1 1DL, DH1 1JN, DH1 1BA, DH1 1AS, DH1 1NY, DH1 1DQ, DH1 1EA, DH1 1JS, DH1 1LW, DH1 1DR. Local Durham bookkeeper services will most likely have the postcode DH1 and the telephone dialling code 0191. Checking this can ensure that you're accessing local bookkeepers. Durham sole traders and business owners will be able to utilise these and countless other similar services.
Franchise bookkeeping Durham.
Durham Bookkeeper Questions
Over the last few months I have been examining the types of questions that people ask on the subject of bookkeeping in Durham. Many of our web visitors sent in some reasonable enquiries that I thought might be worth mentioning. The ones I picked out are, What are a bookkeeper's duties? Does a bookkeeper need a degree? How much do bookkeepers charge? What does bookkeeping mean? Do bookkeepers do income statements? How is bookkeeping different from accounting? Why is bookkeeping important? Are bookkeeping fees tax deductible? What are the advantages of a bookkeeper? I hope that nearly all of those queries have been dealt with on this page, and if that isn't the case we'll be introducing a bookkeeping "Q&A" feature quite soon. Our thanks go to Ben Watson, Stefan Berry, Ian Jarvis and Margaret Coates from Durham, for making the effort to present these questions. We also had enquiries from Adeline Pollard in Houghall, Nathaniel Forster in Croxdale and London Irving in High Pittington.
Durham Bookkeeper Tasks
Most bookkeepers in Durham will be ready to offer you the following bookkeeping and accounting services: bookkeeping and accounting services Durham, independent bookkeeping services, bookkeeping for payroll, business bookkeeping, VAT returns in Durham, charity bookkeeping Durham, bookkeeping for shops Durham, payment services, letting agent bookkeeping Durham, QUOTE FORM provided. We will be in touch with specifics as soon as we can.Durham, in Durham, bookkeeping for clubs, Self-Assessment tax returns, mobile bookkeeping services, profit & loss reports Durham, landlord bookkeeping Durham, tax preparation, professional bookkeeping services, Sage bookkeeping, Xero bookkeeping services, bookkeeping for self-employed people, bookkeeping services for small businesses Durham, bookkeeping for home-based businesses, bookkeeping services for pubs in Durham, bookkeeping prices, partnership returns Durham, bookkeeping for sole traders, management accounts, and more. These are just a few of the activities that are performed by local bookkeepers. Durham companies will tell you about their entire range of bookkeeping services. If there happen to be different Durham bookkeeper requirements that you want but can't see here, you should mention them on the
County Durham Bookkeeping Enquiries
Recently posted County Durham bookkeeping enquiries: Rory Withers from Healeyfield was trying to find a bookkeeper for his football club. Beatrice Fulton wanted a bookkeeper for her letting business near Kimblesworth. Nuala Fellows in Cornforth, County Durham was hunting forfor her bistro. Keziah Lord from Middleton in Teesdale, County Durham was searching for bookkeeping services for her clothing company. Amalie Barr in Hunwick was interested in bookkeeping for her tennis club. Vinny Bull in West Auckland was looking for bookkeeping for his book club. Aliyah Willis from Egglescliffe, County Durham was searching for a bookkeeper for her internet sales business. Thalia Berry was looking for Bishop Middleham, County Durham. Most of these local clients conducted a search for "Bookkeepers County Durham" and located this website on either Yahoo, Google or Bing.
Bookkeepers Near Durham
Also here.: Bearpark bookkeepers, Sherburn bookkeepers, Chester le Street bookkeepers, Broompark bookkeepers, Bishop Aukland bookkeepers, Dragonville bookkeepers, Houghall bookkeepers, High Pittington bookkeepers, Brancepeth bookkeepers, Croxdale and more. All of these areas are covered by local bookeepers. Durham businesses can get rates for bookkeeping services by going
- Durham Self-Assessment Bookkeeping
- Durham Small Business Bookkeeping
- Durham PAYE and Wages
- Durham Tax Preparation
- Durham Bookkeeping Quotes
- Durham Cash Flow Management
- Durham Profit and Loss Reports
- Durham Self-Assessment Returns
- Durham Bank Reconciliations
- Durham Payroll Services
- Durham Credit Control
- Durham Double-Entry Bookkeeping
- Durham Sole Trader Bookkeeping
- Durham Cheap Bookkeeping
Bookkeepers Around Durham: People who live in these roads have recently inquired about bookkeeping services - Tate Avenue, Blue House Bungalows, Cross Street, Belmont Industrial Estate, Crossgate Moor Gardens, Steetley Terrace, School Green, Cypress View, Crawford Close, Abbey Road Industrial Estate, Cemetery Road, Dale Street, Station Road West, Boyd Street, Derwent Terrace, Bank Foot, Shincliffe Mill, Clarence Street, Anns Place, St Aidan Crescent, Brydon Crescent, Brackenfield Road, Barkers Haugh, Beechfield Rise, Church Street East, Stoker Crescent, Byron Terrace, Cook Avenue, Aykley Road, Station Avenue, as well as the following local Durham postcodes: DH1 1DL, DH1 1JN, DH1 1BA, DH1 1AS, DH1 1NY, DH1 1DQ, DH1 1EA, DH1 1JS, DH1 1LW, DH1 1DR.
More Durham Services: Naturally, when you are in need of a bookkeeper in Durham, County Durham, you will probably need all kinds of different services and aside from business consulting in Durham, social media marketing in Durham, HR consulting in Durham, telephone system services in Durham, website design in Durham, EPOS in Durham, an accountant in Durham, PPC advertising in Durham, cloud & hosting services in Durham, telemarketing in Durham, promotional video production in Durham, card processing in Durham, a marketing agency in Durham, network, database & IT support in Durham, financial advice in Durham, Ecommerce in Durham, digital marketing services in Durham, and other different Durham specialists.in Durham, County Durham, you might also need
If you want local info regarding Durham, County Durham look here
Bookkeeping Jobs Durham: Find bookkeeping jobs in Durham here: Durham Bookkeeping Jobs
Bookkeepers in DH1 area, telephone code 0191.
Bookkeepers Durham - Bookkeeping Quotes Durham - Kashflow Bookkeeping Durham - Small Business Bookkeepers Durham - Bookkeepers Near Durham - Bookkeeping Durham - Double-Entry Bookkeeping Durham - Self-Assessment Tax Returns Durham - Sole Trader Bookkeeping Durham