Bookkeepers Durham

Durham Bookkeeping Services

Bookkeepers Durham County Durham (DH1): For any person in Durham who runs a small business, operates an online store or acts as a sole trader, it is their sole responsibility to maintain "true and fair", accurate accounting and financial records for a minimum of six years. This is in accordance with the 2006 Companies Act. Failing to produce such records may leave you facing a hefty fine and perhaps Company Director disqualification. Accounting Today states that over forty percent of small businesses spend at least 80 hours per year on their accounts, therefore whilst you can undertake these financial recordings on your own behalf, it is often better to use a professional bookkeeping company or accountant to do them instead.

Free Durham Bookkeepers Quotes

If the thought of tracking assets and liabilities, compiling balance sheets, preparing profit, loss and fiscal reports or writing out ledgers fills you with a sense of dread, then the time has come to contact a bookkeeper in Durham for guidance and advice.

BOOKKEEPER OR ACCOUNTANT?

Bookkeepers Durham County Durham (DH1)

For many business owners in Durham, an obvious question when faced with this predicament is "Precisely what is the distinction between an accountant and a bookkeeper?" The reality is that while at one time the bookkeeping process, was deemed beneath the skill set, qualifications and experience of an accountant, because of massive improvements in software over the past decade, a lot of accountancy companies in Durham will now take on bookkeeping tasks. Most accountancy companies now have a set fee for bookkeeping services, to keep them consistent with what a dedicated bookkeeper in Durham would usually charge. Business owners are now benefiting from this, as it provides a wider variety of competition within this sector and can mean that the cost of bookkeeping is much more affordable than it would previously have been.

The amount of training that's necessary is the big difference between an accountant and a bookkeeper. An accountant will generally hold at least an accounting degree with further training in taxation and other business and financial management. A bookkeeper in Durham might not necessarily hold the qualifications or levels of experience and training, but should still have a fair grasp of such disciplines.

A BOOKKEEPER'S RESPONSIBILITIES

In the simplest of terms, the bookkeeping process involves the logging of day by day financial transactions of any enterprise or business in Durham. This is likely to include, but is in no way limited to;

  • Highlighting and rectifying any discrepancies in the financial accounts.
  • The billing of clients for goods or work completed.
  • Recording of all financial incomings; electronic, cash and card payments included.
  • Recording invoices received and ensuring payment is completed promptly.
  • VAT submissions and recording.
  • Monthly reconciliation and reporting.
  • Making sure that double-entry bookkeeping and accounting practices are implemented.
  • Payroll services.
Bookkeeping Durham UK (0191)

Based upon service level you require, a bookkeeper might only be needed to double check your records periodically, if you're prepared to undertake the larger part of the bookkeeping work yourself. To allow for any mistakes or problems to be uncovered and amended quickly, this should be monthly at the bare minimum. Providing that you are able to stay in control of your financial transactions without impacting on your everyday trading operations, this trade-off can be the most economical solution.

It's a good bet that if you are looking to hire a bookkeeping company, you are currently getting stressed about the financial recording side of your business in Durham. A professional bookkeeper will be able to assist you in linking the latest software program with your accounts to facilitate the seamless pull-through of transactional data, and will provide advice and guidance on such things as stocktaking, producing expense reports and invoicing.

Bookkeeping Enquiries in Durham County Durham

An especially crucial aspect of a good bookkeeper is being able to reconcile accounts payable with cash flow. This means that rather than waiting for an overdue notice, which many small businesses are guilty of at some time or other, or paying off a bill right away, your bookkeeper will schedule the payment of bills to times when your finances are buoyant and in good shape. This doesn't just keep you in favour with suppliers and those who supply services to you, but also makes sure that your business is financially sound. When you are firmly focussed on the smooth running of your business, this is a juggling act that you may find hard to accomplish as an individual.

Bookkeeper Near Durham County Durham

If you're a sole trader, or operate a small business, using a qualified bookkeeper in Durham, also gives them an opportunity to cast an expert eye over the operation of your business. It might be that business trends and patterns that you have overlooked could thus be pinpointed. It isn't unusual for a bookkeeper to recognise an opportunity or flag up an area of the business where profits are plummeting. For the growth and success of any business enterprise in Durham, it is essential that such KPI's (key performance indicators) are spotted early.

If you give out invoices in your business operations, having to pursue late payments can be really awkward. Having someone from outside your business situation, can take the embarrassment away from visiting your clients or making that phone call. A bookkeeper can employ legal techniques to take care of a repeating late or non-payer, and without having to resort to claims court proceedings, help to clear up the matter.

SOLE TRADER'S BOOKKEEPING REQUIREMENTS

There are some comparatively basic sole trader bookkeeping requirements, that are laid out by law. Essentially, sole traders should save all invoices and receipts, and keep records of expenditure and income from month to month. Although this might initially sound quite simple, retaining the services of a bookkeeper is still a good idea. When working through your tax returns, a dedicated sole trader bookkeeper in Durham will be able to give you advice on what your valid business expenses are, and ensure these are claimed back from HMRC. This might include promotional advertising, stationery goods, bills and rent if you work from home, items such as computers and printer ink. Speak to a trusted bookkeeper for more detailed advice and see how they may be able to help your small business to prosper and grow.

BOOKKEEPING FOR ONLINE TRADERS

Bookkeeping Services Durham

Specialist bookkeepers are occasionally required for particular bookkeeping niches. If you manage an online store for instance, you are going to need a bookkeeper in Durham who understands international and cross-border taxes, exchange rate transfers, online payments and multi-currency processing. Keeping track of your stock on a 24/7 basis is also a major priority, if that same outlet distributes goods that you produce or hold, as I'm sure you will realise the internet doesn't sleep, so neither should your bookkeeping software or services.

In combination with bookkeeping services, it is also possible to establish a virtual office. Offering a physical link with their customers, this allows an online only business or sole trader to have a telephone service and postal address. It is definitely worth talking about this possibility if it's needed, although not all bookkeeping businesses in Durham will supply this service.

PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS

It's not necessary for a qualified bookkeeper in Durham to have a university degree, and many of the bookkeeping industry qualifications are held at Diploma and Certificate level. There is an ever-increasing range of online courses available, although bookkeeping qualifications can still be obtained via further education colleges and universities.

Bookkeepers are represented by 2 key training and certification organisations:

Local Bookkeeping Services Durham (DH1)

The Institute of Certified Bookkeepers (ICB): Keeping their associated members current with the latest trends, the ICB or Institute of Certified Bookkeepers is the largest bookkeeping organisation in the world, providing accreditation to certified bookkeepers, together with reference material and training.

The AAT or Association of Accounting Technicians: Entitled to use the letters AATQB, a certified member of the AAT (Association of Accounting Technicians) will have completed advanced qualifications and training in bookkeeping. They then become authorised AAT bookkeepers, approved by this reputable association, which guarantees a level of service for their clients. If an AAT bookkeeper is found to have broken the code of practice or has a complaint against them, they can be subject to tribunal and disciplinary processes to preserve the integrity and values of the aat.

By visiting their websites, you're able to examine the register of ICB or ATT members, to find the qualifications of any professional Durham bookkeeper. Before employing any professional bookkeeper in Durham it is recommended that you carry out this check.

(Tags: Bookkeeping Accountant Durham, Bookkeeper Durham, Bookkeeping Service Durham, Bookkeeping Services Durham, Bookkeepers Durham)

Book Bookkeeper in Durham UK

Bookkeeping services are available for those living in in Durham and also nearby in: Sherburn, High Pittington, Bishop Aukland, Chester le Street, Broompark, Bowburn, Peterlee, Croxdale, Houghall, Hartlepool, Bearpark, Brancepeth, Sacriston, Hexham, Consett, Dragonville, as well as in these postcodes DH1 1PN, DH1 1JX, DH1 1NN, DH1 1EE, DH1 1AT, DH1 1LH, DH1 1EW, DH1 1LX, DH1 1HA, DH1 1DH. Local Durham bookkeeper services will likely have the postcode DH1 and the telephone code 0191. Checking this should guarantee you're accessing local bookkeepers. Durham sole traders and business owners can utilise these and many other bookkeeping related services.

Durham Bookkeeper Tasks

Bookkeeper Tasks Durham

Most Durham bookkeepers will be prepared to provide you with the following bookkeeping services: landlord bookkeeping Durham, bookkeeping services for restaurants, tax preparation, accountancy packages, tax returns Durham, mobile bookkeeping services, professional bookkeeping services, bookkeeping for payroll, Kashflow bookkeeping services in Durham, bookkeeping for the self-employed, bookkeeping services for charities in Durham, maintaining fixed asset registers, invoice processing, bookkeeping for sole traders, bookkeeping for societies, Self-Assessment tax returns, profit & loss reports in Durham, VAT returns, partnership returns, bookkeeping for retail outlets Durham, double-entry bookkeeping, bookkeeping for freelancers, Sage bookkeeping, PAYE & wages in Durham, small business bookkeeping, cash books Durham, Xero bookkeeping services, letting agent bookkeeping Durham, bookkeeping for limited companies, bookkeeping services, and more. Listed are just a small portion of the tasks that are carried out by local bookkeepers. Durham professionals will let you know their whole range of bookkeeping services. If there happen to be additional Durham bookkeeper requirements that you want but cannot see here, you can mention them on the QUOTE FORM provided. We'll get back to you with details just as soon as we are able.

Durham Bookkeeper Questions

Durham Bookkeeping Questions

Only yesterday I was looking at the typical questions that people ask with regards to bookkeepers in Durham. A number of our visitors have sent in insightful enquiries which are relevant to this post. Those which stuck out are, Does a bookkeeper have to be registered? How does bookkeeping differ from accounting? What are the benefits of a bookkeeping services? How much is a bookkeeper per hour? Can a bookkeeper do payroll? How does bookkeeping help a business in Durham? Are bookkeeping fees tax deductible? What makes a good bookkeeper? How do bookkeeping services work? Most of these questions hopefully have been answered in the preceding article, and if some remain unanswered we'll shortly be putting in a bookkeeping "Q&A" feature. Many thanks to Jakub Morris, Kane Dixon, Krish Rowe and Emilia Holden, for posing these questions. It was also awesome to get contributions from Jordyn Pickering in Bearpark, Ryker Irvine in Dragonville and Peyton Brewer in Bishop Aukland.

DURHAM BOOKKEEPING QUOTES

Bookkeepers Near Durham

Also find: High Pittington bookkeepers, Sacriston bookkeepers, Broompark bookkeepers, Sherburn bookkeepers, Brancepeth bookkeepers, Dragonville bookkeepers, Hartlepool bookkeepers, Chester le Street bookkeepers, Peterlee bookkeepers, Bowburn bookkeepers, Bishop Aukland bookkeepers, Consett bookkeepers, Hexham bookkeepers, Bearpark bookkeepers, Houghall bookkeepers, Croxdale bookkeeper and more. All of these locations are serviced by local bookeepers. Durham businesses and traders can get fees for bookkeeping services by going here.

Bookkeeping Services Durham

Find a Bookkeeper in Durham Here
Durham Bookkeeping Services (0191)
  • Durham Profit and Loss Analysis
  • Durham Cheap Bookkeeping
  • Durham Wages PAYE and CIS
  • Durham Double-Entry Bookkeeping
  • Durham Tax Returns
  • Durham Small Business Bookkeeping
  • Durham Payroll Services
  • Durham Credit Control
  • Durham Self-Assessment Bookkeeping
  • Durham Cash Flow Analysis
  • Durham Sole Trader Bookkeeping
  • Durham VAT Returns
  • Durham Tax Preparation
  • Durham Bookkeeping Services

Bookkeepers Around Durham: People living in the following areas have just recently inquired about bookkeeping services - Dunelm, Sutton Street, Brydon Crescent, Broomside Lane, Cowley Street, Andrew Terrace, Cook Avenue, Sniperley Grove, Surtees Drive, Springfield Park, Aldhome Court, Dunholme Close, Crossways, The Village, Brighton Terrace, Croft Court, Bevin Square, Staffordshire Drive, Crossfield, Colepike Road, Thornley Station Industrial Estate, The Mill, Beech Park, Carrsway, Ashbrook Close, Acer Drive, Chase Court, Ancroft Garth, St Leonards, as well as the following local Durham postcodes: DH1 1PN, DH1 1JX, DH1 1NN, DH1 1EE, DH1 1AT, DH1 1LH, DH1 1EW, DH1 1LX, DH1 1HA, DH1 1DH.

If you would like to get local information about Durham, County Durham check here

Bookkeepers in DH1 area, telephone code 0191.

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(This bookkeepers Durham information was last updated on 26-08-2022)