Bookkeepers Edinburgh

Edinburgh Bookkeeping Services

Bookkeepers Edinburgh Scotland (EH1): For any person in Edinburgh who runs an online store, owns a small business or acts as a sole trader, it is their sole responsibility to keep accurate, "true and fair" financial and accounting records for at least six years. This is in accordance with the Companies Act (2006). Failing to produce these detailed records may leave you faced with disqualification as a Company Director, together with a hefty fine. There's a significant investment of time involved with compiling these financial recordings on your own behalf, and it's often more cost-effective to use a professional bookkeeping company or accountant, particularly when you consider that according to Accounting Today magazine over forty percent of small business owners spend over eighty hours per year on their bookkeeping activities.

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The time has come to get in touch with a bookkeeper in Edinburgh for advice and guidance, if you're overcome with a sense of dread simply thinking about preparing profit, loss and fiscal reports, tracking liabilities and assets, compiling balance sheets or filling out ledgers.


Bookkeepers Edinburgh Scotland (EH1)

The first question many people ask is "What is the difference between an accountant and a bookkeeper?" While in past times many accountants considered the bookkeeping process to be beneath their skill-sets, qualifications and experience, a lot of accountancy companies in the Edinburgh area will now take on bookkeeping, due to huge software improvements over the past ten years or so. For many accounting companies it's now fairly common to charge a set fee for bookkeeping services, so that they are in keeping with the standard charges of a dedicated bookkeeper in Edinburgh. Since it gives a broader range of competition within this sector, this is fantastic news for small businesses in Edinburgh, making their bookkeeping costs more affordable than they previously were.

It is basically the amount of training and qualification that is needed for each discipline, that reflects the biggest difference between an accountant and a bookkeeper in Edinburgh. An accountant will, at a minimum, hold a degree in accounting, and will have also had specialist training in business and fiscal management, and taxes. While not necessarily having this level of training and experience, or holding the same financial qualifications, a bookkeeper in Edinburgh will still have a decent understanding of all these fiscal skills.


In the simplest of terms, the bookkeeping process involves the careful recording of day to day monetary transactions of any business or enterprise in Edinburgh. This will include, but is not limited to;

  • Logging of all financial incomings; including electronic, card and cash payments.
  • Monthly reconciliation and reports.
  • Billing of customers for work completed or goods.
  • Making sure that double-entry bookkeeping and accounting practices are implemented.
  • Logging the receipt of invoices and making sure that payment is completed by the due date.
  • VAT submissions and recording.
  • Highlighting any discrepancies in financial accounts and rectifying them.
  • Payroll services.
Bookkeeping Edinburgh UK (0131)

If you are able to carry out the bulk of your bookkeeping work yourself; a bookkeeper may just be necessary for double-checking your accounts on a fixed schedule. To allow for any problems or mistakes to be discovered and corrected quickly, this should be monthly as a bare minimum. Providing that it's possible to stay on top of your monetary transactions without compromising your everyday business activities, this trade-off can be the most cost-effective solution.

Whatever your scenario, if you are seriously looking at hiring a bookkeeper it's a good bet that you may be getting stressed about the financial recording side of your business in Edinburgh. A professional bookkeeper will help you with everything from stocktaking, invoicing and generating expense reports, to linking your accounts with the latest computer software to seamlessly of your financial data.

Bookkeeping Enquiries in Edinburgh Scotland

The efficient reconciliation of accounts payable with cash flow is one of the most important elements of good bookkeeping practice. This means that your bookkeeper will schedule bill payments to times when your finances are buoyant, rather than paying off a bill right away, or waiting on a final notice, which most small businesses are guilty of doing. This is not simply to make sure that your business is on a sound financial footing all the time, but also to keep you in the good books of the businesses who provide your materials or services. Sadly, this is one of those balancing acts that can be tough to accomplish when you're completely focussed on the smooth running of your day to day business activities.

Bookkeeper Near Edinburgh Scotland

If you are a sole trader, or operate a small business, using a certified bookkeeper in Edinburgh, also gives them the chance to cast an impartial eye over the running of your business. It might be that business patterns and trends that you have overlooked could therefore be pinpointed. A situation where a smart bookkeeper flags up an area where profits are falling, or identifies an opportunity which may be worthwhile, is by no means an unusual occurrence. For the success of any enterprise in Edinburgh, it is vital that such key performance indicators are spotted as early as possible.

Chasing up late payments can be a fairly awkward scenario for you, if you send out invoices in your business operations. By having an independent person outside your normal business bubble make that phone call or visit to your customers, some of that embarrassment can be removed. If you've got a persistent late payer there are legal options that a bookkeeper can make use of to help to clear up the issue before the matter winds up in a claims court proceeding.


There are some relatively straightforward sole trader bookkeeping requirements, which are set out in law. In essence, sole traders must keep all invoices and receipts, and monitor expenditure and income on a month by month basis. Even though this may at first sound quite simple, hiring the expert services of a bookkeeping company is still advisable. When working through your tax returns, a specialist sole trader bookkeeper in Edinburgh will be in a position to advise you on what your bonafide business expenses are, and ensure these are claimed back from HMRC every year. This might include advertising, printer ink, stationery, rent and bills if working from home and items such as computing equipment. For more detailed advice, chat to your local bookkeeper, and learn how they might help your business to thrive and grow going forward.


Bookkeeping Services Edinburgh

Specialised bookkeepers are occasionally necessary for certain bookkeeping niches. If you manage an online store for example, you will need a bookkeeper in Edinburgh who's familiar with online payment procedures, exchange rate transfers, multi-currency processing and international and cross-border taxes. Monitoring inventory on a 24/7 basis is also an important priority, if the same outlet sells goods that you produce or hold, after all the internet never sleeps, therefore neither should your bookkeeping software or services.

Together with your bookkeeping services, a remote virtual office can also be provided. Offering a physical connection to their customers, this enables a sole trader or online only business to have a telephone service and postal address. It is definitely worth discussing this possibility if it is required, although not all Edinburgh bookkeepers will provide this service.


A qualified Edinburgh bookkeeper doesn't need to have a degree and a good many this sector's qualifications are at Diploma or Certificate level. Although there's an ever-growing choice of courses available online, bookkeeping qualifications can still be gained through further education colleges and universities, if that is the preferred route.

Training and certification for bookkeepers is mostly provided by 2 organisations:

Local Bookkeeping Services Edinburgh (EH1)

The AAT (Association of Accounting Technicians): The AAT or Association of Accounting Technicians provides a training schedule with advanced qualifications allowing fully trained bookkeepers to use the letters AATQB. They're then permitted to become certified AAT bookkeepers, which assures their clients a minimum level of service which is backed by the organisation. To preserve the integrity and values of the AAT, if a bookkeeper who's affiliated with the AAT is found to have broken the code of practice or has a complaint against them, they can be liable to disciplinary and tribunal procedures.

The ICB or Institute of Certified Bookkeepers: Keeping their members up-to-date with the latest trends and innovations, the Institute of Certified Bookkeepers (ICB) is the largest organisation of its kind anywhere in the world, providing accreditation to qualified bookkeepers, along with reference material and training.

By visiting their websites, it's possible to check the register of ICB or ATT members, to verify the qualifications of any professional Edinburgh bookkeeper. Before getting involved with any local bookkeeper in Edinburgh it is generally a good idea to carry out this check.

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Book Bookkeeper in Edinburgh UK

VAT Returns by a Bookkeeper in Edinburgh

Small business owners in Edinburgh can consider hiring a bookkeeper to handle their VAT returns, which can help them maintain tax compliance and free up their time for other crucial business tasks. A bookkeeper can take care of all aspects of your VAT return, including calculating the amount of VAT you owe or are owed, preparing and submitting your return to HMRC, and keeping accurate records of your transactions. On top of that, a local bookkeeper can supply you with insightful suggestions on how to decrease your VAT responsibility and make sure that you are obtaining all the admissible VAT reimbursements. Partnering with a bookkeeper can give you the confidence that your VAT returns are being handled with efficiency and precision, providing you with more time to focus on expanding your business in Edinburgh. To summarise, hiring a bookkeeper in Edinburgh can provide small business owners with a cost-effective, efficient, and reliable solution for managing their VAT returns, which can help them stay compliant with tax regulations, minimize their tax liability, and free up their time to concentrate on business growth. All in all, Edinburgh-based small business owners can opt for a bookkeeper's reliable, affordable, and efficient services to manage their VAT returns, enabling them to comply with tax regulations, minimize their tax obligation, and dedicate more time to expanding their business.

What Are the Main Advantages of Using a Bookkeeper in Edinburgh Instead of an Accountant?

There are numerous advantages to using a bookkeeper as opposed to an accountant, including:

  • Specialisation: Bookkeepers tend to have a more focused expertise in day-to-day financial transaction management and record-keeping, leading to greater efficiency and effectiveness in such tasks.
  • Time Savings: By choosing to outsource their bookkeeping tasks, businesses can save a bit of time and concentrate on other aspects of their business, like sales and marketing.
  • Accessibility: Bookkeepers are generally more available to answer questions and provide support on a regular basis than an accountant, who may only be available at specific times.
  • Customisation: Bookkeepers can provide services that are tailored to a business's specific needs, unlike accountants who may have a more standard approach.
  • Affordability: Bookkeeping services are typically more budget-friendly in comparison to accounting services, making them a cheaper option for startups, sole traders and small businesses.

It is important to note that while bookkeepers offer some amazing services, they may not have quite the same level of qualifications or expertise as an accountant in aspects such financial planning or tax preparation. In these cases, seeking the services of an accountant might be necessary.

Edinburgh Bookkeeper Tasks

Bookkeeper Tasks Edinburgh

Most Edinburgh bookkeepers will be ready to offer you the following accounting and bookkeeping services: bookkeeping services for retail outlets in Edinburgh, tax preparation, Quickbook bookkeeping services Edinburgh, maintaining fixed asset registers, bookkeeping for shops Edinburgh, personal tax returns Edinburgh, bookkeeping services for tradesmen, credit control in Edinburgh, VAT returns, bookkeeping for clubs Edinburgh, bookkeeping services for organisations in Edinburgh, bookkeeping services in Edinburgh, bookkeeping for societies, cash flow analysis, charity bookkeeping Edinburgh, professional bookkeeping services, financial statement preparation, bookkeeping price quotes Edinburgh, tax returns, Xero bookkeeping, bookkeeping for restaurants, off-site bookkeeping in Edinburgh, partnership tax returns, bookkeeping and accounting services, Self-Assessment tax returns Edinburgh, business bookkeeping in Edinburgh, management reports, Kashflow bookkeeping services, PAYE & wages Edinburgh, management accounts, and more. Listed are just a handful of the duties that are performed by local bookkeepers. Edinburgh professionals will keep you informed about their whole range of services. If there are some other Edinburgh bookkeeper requirements that you want but don't see here, you can easily mention them on the QUOTE FORM provided. We'll get back to you with information just as soon as we are able.

Bookkeepers Near Edinburgh

Also find: Danderhall bookkeepers, Newington bookkeepers, Portobello bookkeepers, South Gyle bookkeepers, Leith bookkeepers, Loanhead bookkeepers, Ratho bookkeepers, Currie bookkeepers, Bonnington bookkeepers, Craigentinny bookkeepers, Trinity bookkeepers, Juniper Green bookkeepers, Corstorphine bookkeepers, Wallyford bookkeepers and more. Professionals offering bookkeeping services serve practically all of these places. The ease of access ensures individuals and businesses alike have the capability to find the necessary financial support for effective account management. For bookkeeping estimates, residents in the area simply need to click here

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(This bookkeepers Edinburgh information was edited and updated on 06-02-2024)