Bookkeepers Ealing Greater London (W5): For any individual in Ealing who owns a small business, acts as a sole trader or operates an online store, it is their sole responsibility to maintain accurate, "true and fair" financial and accounting records for a minimum of 6 years. This is laid out by the 2006 Companies Act. Failing to produce these records might leave you faced with a fine of thousands of pounds and perhaps Company Director disqualification. There's a substantial time investment involved with compiling these financial records on your own, and it can be more economical to employ a professional accountant or bookkeeping service, particularly when you consider the fact that according to Accounting Today magazine over forty percent of small businesses spend at least 80 hours annually on their accounts.
If you are filled with panic merely thinking about producing balance sheets, writing out ledgers, preparing profit, loss and financial statements or tracking liabilities and assets, then the time to contact a bookkeeper in Ealing for help and advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
A common query that's asked by many business owners in Ealing is "Precisely what is the distinction between a bookkeeper and an accountant?" While in the past a lot of accountants considered the bookkeeping process to be beneath their skill-sets, qualifications and experience, many accountancy firms in Ealing will now undertake most bookkeeping duties, because of tremendous software improvements over the past decade. For many accounting firms it's now quite common to charge a flat rate for bookkeeping services, to keep them commensurate with the normal fees of a typical bookkeeper in Ealing. As it gives a wider variety of competition within the industry, this is good news for small business owners in Ealing, making their bookkeeping much more affordable than it previously was.
When you are considering the differences between a bookkeeper and an accountant in Ealing, the most notable one is the level of training and qualification that is needed for each of these disciplines. Generally holding an accounting degree, a professional accountant should also have had further training in tax matters and have qualifications in business and fiscal management. While having a fair grasp of these procedures, a bookkeeper in Ealing might not necessarily have these qualifications or levels of training and experience.
A BOOKKEEPER'S RESPONSIBILITIES
The recording of daily monetary transactions of any business in Ealing, describes the act of bookkeeping in the simplest of terms. This is likely to include, but is by no means limited to;
- Ensuring accounting and double-entry bookkeeping practices are implemented.
- VAT submissions and recording.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- Recording of all financial incomings; card, cash and electronic payments included.
- Documenting invoices received and making sure that payment is completed punctually.
- Payroll services.
- Monthly reconciliation and reports.
- Billing of clients for goods or work completed.
Whilst it depends on the kind of service you're interested in, if you're happy to do the vast majority of the bookkeeping work yourself, a professional bookkeeper might only be needed to periodically double-check your records. This ought to be done every month as a bare minimum, as this will allow any problems or mistakes to be uncovered and amended speedily. This could be the most cost-effective trade-off, providing that you are confident of staying up-to-date with your monetary transactions without affecting your day to day trading tasks.
If you're seriously looking to hire a bookkeeping service in Ealing, whatever your situation is, it is fairly likely that you could be having problems with your tax and financial procedures. A professional bookkeeper will be able to provide advice and guidance on everything from stocktaking, invoicing and producing expense reports, to linking your accounts with the most suitable software application to allow the seamless sorting of data.
One of the most important elements of good bookkeeping practice, is the ability to correctly reconcile cash flow with accounts payable. Which means that by scheduling bill payments to a time when your finances are in good shape, your bookkeeper will avoid the mistake that a lot of small businesses are guilty of at some time or other i.e. paying a bill immediately, or waiting on an overdue notice. Together with keeping your business or enterprise on a sound financial footing, this also maintains your reputation with your service providers and suppliers. Unfortunately, this is just one of those balancing acts that can be difficult to perform when you're mostly focussed on the streamlined running of your day to day business activities.
For your small business enterprise, or if you are a sole trader, employing an experienced bookkeeper in Ealing, presents you with the opportunity to have an expert eye cast over your business. It might be that business patterns and trends that might have otherwise gone unnoticed will therefore be pinpointed. It's not unheard of for a bookkeeper to identify a new opportunity or flag an area which is falling in profits. For driving the growth of any business in Ealing, it is important that such key performance indicators (KPI's) are spotted as early as possible.
It can sometimes be quite humiliating to pursue a late payment if your company sends out invoices. Some of that apprehension can be removed by having a person outside your normal business situation visit your client or make that phone call. A bookkeeper can make use of legal procedures to deal with a repeating late payer, and without having to resort to a claims court proceeding, help to resolve the situation.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
As a sole trader the requirements for bookkeeping, as set out in law, start off fairly straightforward. It is required that a sole trader must keep a record of income and expenditure from month to month and save all invoices and receipts. Whilst this might sound simple enough it is still recommended that you retain the expertise of a bookkeeping company. When preparing your tax returns, a specialist sole trader bookkeeper in Ealing will be happy to advise you on what your valid business expenses are, and make certain these are claimed back from HMRC. This could include stationery goods, advertising expenses, rent and bills if you work from home, items such as laptops and consumables. If you'd like to get more comprehensive advice, and learn how your small business can develop and grow going forward, talk to a trusted bookkeeper.
BOOKKEEPING FOR ONLINE TRADERS IN EALING
Certain businesses that operate in niche areas, might need to employ a specialist bookkeeping service. If, for example, you run an online store, you're going to need a bookkeeper in Ealing who is familiar with online payments, multi-currency processing, exchange rate transfers and cross-border and international taxes. Managing your inventory and stock on a 24 hours a day basis is also a crucial priority, if the same shop sells goods that you produce or hold, after all the internet never sleeps, so nor should your bookkeeping services and software.
It's also possible to establish a virtual office, which can be utilised in conjunction with your bookkeeping service. This is valuable in enabling a sole trader or online only business to have a postal address and telephone service to offer a physical link with their customer base. Although this option might not be supplied by all bookkeeping companies in Ealing, it's definitely worth a discussion if this service is something that could be beneficial.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It is not necessary for a professional bookkeeper in Ealing to hold a university degree, and a good number of the bookkeeping sector qualifications are held at Diploma or Certificate level. There are an ever-increasing variety of courses available online, although bookkeeping qualifications can still be obtained through further education colleges and universities.
Representing bookkeepers, there are 2 main certification and training organisations:
The AAT or Association of Accounting Technicians: The AAT or Association of Accounting Technicians provides a training schedule with advanced qualifications entitling a fully trained member to use the letters AATQB after their name. They then become accredited AAT bookkeepers, approved by this organisation, which promises a certain level of service for their clients. To protect the credibility of the AAT, a bookkeeper who is associated with the AAT can be liable to disciplinary and tribunal procedures if it is found that they have breached the code of conduct or had a complaint against them.
The ICB or Institute of Certified Bookkeepers: The Institute of Certified Bookkeepers (ICB) is the largest bookkeeping organisation in the world and offers accreditation to certified bookkeepers, along with training and reference material to keep their members up-to-date.
By going to their respective websites, you can check out the qualifications of any bookkeeper on the register of AAT or ICB members. Prior to employing any bookkeeping service in Ealing, it is definitely wise to complete these checks.
Bookkeeping services are available for those living in in Ealing and also in nearby places like: London, Brentford, Brent Park, Yeading, Cranford, Hounslow, Kew, Perivale, Acton, Wembley, Northfields, Heston, Alperton, Shepherds Bush, Greenford, Southall, Westfield, Hayes, Osterley, as well as in these postcodes NW10 6JQ, NW10 6NU, NW10 6LG, NW10 6LP, NW10 6FE, NW10 6TN, NW10 6PJ, NW10 6NQ, NW10 6LD, NW10 6LJ. Locally based Ealing bookkeeper services will most likely have the telephone code 020 and the postcode W5. Verifying this can make certain that you access locally based bookkeepers. Ealing sole traders and business owners can utilise these and lots of other comparable services.
Bookkeeping Enquiries Greater London
Recently posted Greater London bookkeeping enquiries: Jett Betts in New Barnet was looking for bookkeeping for his building firm. Elwood Abel in Cranford, Greater London was looking for bookkeeping services for his pub. Casper Higginson in Welling was interested in bookkeeping services for his sports clothing shop. Mara Hinde needed a bookkeeper for her letting business located in North Kensington, Greater London. Elisha Parkin from Peckham was enquiring about bookkeeping for her clothing company. Lauren Mckenzie from North Harrow was asking about bookkeeping for her wedding planning business. Hafsah Proctor in Holloway was trying to find a bookkeeper for her salsa dance business. Bridget Dubois from Eltham was trying to find bookkeeping services for her internet sales business. These local clients did a search for "Bookkeepers Greater London" and discovered this web page on Google, Yahoo or Bing.
Ealing Bookkeeper Tasks
Most Ealing bookkeepers will be prepared to offer you the following accounting and bookkeeping services: bookkeeping for pubs, general bookkeeping services, cash flow analysis, management accounts, accounting and bookkeeping services, bookkeeping for home-based businesses, bookkeeping quotes Ealing, management reports, bookkeeping services for organisations, Xero bookkeeping services, bookkeeping services for clubs, tax returns in Ealing, off-site bookkeeping, bookkeeping for charities, VAT returns, profit & loss reports, Quickbook bookkeeping Ealing, bookkeeping services for freelancers, small business bookkeeping Ealing, bookkeeping services for small businesses in Ealing, credit control, professional bookkeeping services, bookkeeping for shops, mobile bookkeeping services, Self-Assessment tax returns, franchise bookkeeping Ealing, cheap bookkeeping services in Ealing, tax return preparation, and more. These are just a handful of the activities that are conducted by local bookkeepers. Ealing providers will be happy to tell you about their full range of bookkeeping services. If there happen to be other Ealing bookkeeper requirements that you need but don't see here, you should list them on the QUOTE FORM provided. We will be in touch with specifics as soon as we can.
Bookkeepers Near Ealing
Also here.: Osterley bookkeepers, Kew bookkeepers, London bookkeepers, Acton bookkeepers, Shepherds Bush bookkeepers, Westfield bookkeepers, Hounslow bookkeepers, Greenford bookkeepers, Northfields bookkeepers, Heston bookkeepers, Perivale bookkeepers, Cranford bookkeepers, Alperton bookkeepers, Brent Park bookkeepers, Hayes bookkeepers, Yeading bookkeepers, Southall bookkeepers, Brentford bookkeepers, Wembley and more. Most of these towns and villages are served by local bookeepers. Ealing residents can get rates for bookkeeping services by clicking
- Ealing Bookkeeping Estimates
- Ealing Tax Preparation
- Ealing Small Business Bookkeeping
- Ealing PAYE and Wages
- Ealing Sole Trader Bookkeeping
- Ealing Bookkeeping Services
- Ealing Double-Entry Bookkeeping
- Ealing Cash Flow Analysis
- Ealing Credit Control
- Ealing Profit and Loss Reporting
- Ealing VAT Returns
- Ealing Payroll Services
- Ealing Self-Assessment Bookkeeping
- Ealing Tax Returns
Bookkeepers Around Ealing: People living in these nearby Ealing roads and areas have recently requested bookkeeping services - Inglis Road, Elgar Avenue, Elderberry Road, Olive Road, Berry Way, Delamere Road, Ealing Green, Gunnersbury Crescent, Lillian Avenue, Crosslands Avenue, Princes Avenue, Church Place, Arran Mews, Kenilworth Road, Kingsbridge Avenue, Boddington Gardens, Waldegrave Road, The Park, St Mary's Square, Hazelwood Close, Palm Grove, Queen Anne's Gardens, Beech Gardens, Marlborough Road, Liverpool Road, Soane Close, as well as these Ealing area postcodes: NW10 6JQ, NW10 6NU, NW10 6LG, NW10 6LP, NW10 6FE, NW10 6TN, NW10 6PJ, NW10 6NQ, NW10 6LD, NW10 6LJ.
Bookkeeping Jobs Ealing: Get bookkeeping jobs in Ealing here: Ealing Bookkeeping Jobs
To get local info regarding Ealing, Greater London click here
Bookkeepers in W5 area, telephone code 020.
Bookkeeping Quotations Ealing - Sole Trader Bookkeeping Ealing - W5 - Bookkeeping Ealing - Quickbooks Bookkeeping Ealing - Bookkeepers Near Ealing - Small Business Bookkeepers Ealing - VAT Returns Ealing - Tax Returns Ealing