Bookkeepers Enfield Greater London (EN1): For anybody in Enfield who owns a small business, acts as a sole trader or runs an online store, it is their sole responsibility to keep "true and fair", accurate accounting and financial records for a minimum of 6 years. This is in accordance with the Companies Act (2006). Failure to produce these detailed records may leave you faced with thousands of pounds in fines and potential disqualification as a Company Director. There is a significant investment of time involved with keeping such financial recordings yourself, and it is often better to use a professional accountant or bookkeeping company, particularly when you consider the fact that according to Accounting Today magazine over 40% of small business owners spend over eighty hours each year on their bookkeeping.
The time has come to get in touch with a bookkeeper in Enfield for advice, if you're overcome with a sense of dread merely thinking about tracking assets and liabilities, creating profit, loss and financial statements, filling out ledgers or compiling balance sheets.
BOOKKEEPER OR ACCOUNTANT?
"Precisely what is the difference between a bookkeeper and an accountant?" Is a question that is asked by most small business owners in Enfield. To be honest, because of massive improvements in software over the past decade or so many accountancy firms in the Enfield area will take on the task of bookkeeping, which at one time was looked at as beneath their experience, skill set and qualifications. To make certain their bookkeeping services are consistent with an independent bookkeeper's fee, it's now quite common for accounting companies to charge a fixed rate for these services. This makes the cost of bookkeeping more manageable than it was previously, and is excellent news for small businesses in Enfield as it generates a wider range of competition within the industry.
When looking at the main difference between an accountant and a bookkeeper in Enfield, it's the standard of training and qualification that's necessary for each discipline. An accountant will normally hold at least a degree in accounting with additional training in taxation and other business and fiscal management. A bookkeeper in Enfield might not have the same levels of experience and training, or hold these qualifications, but should still have a decent understanding of these fiscal disciplines.
RESPONSIBILITIES OF A BOOKKEEPER
Basically, the bookkeeping process is the recording of the day by day financial transactions of any business enterprise in Enfield. This can include, but isn't limited to;
- VAT recording and submissions.
- Highlighting and rectifying any discrepancies in financial accounts.
- Monthly reconciliation and reports.
- Logging of all financial incomings; cash, card and electronic payments included.
- The billing of customers for goods or work completed.
- Recording invoices received and ensuring that payment is completed promptly.
- Ensuring accounting and double-entry bookkeeping practices are followed.
- Payroll services.
Whilst it depends on the type of service you are interested in, if you are willing to perform the larger part of the bookkeeping work yourself, a professional bookkeeper may only be needed to periodically double-check your accounts. To allow for any problems or mistakes to be identified and corrected promptly, this ought to be done on a monthly basis as a bare minimum. This compromise can often be the most economical solution if you are confident of keeping up-to-date with your day to day financial transactions and trading.
Whatever the situation is with your small business, if you're currently looking at hiring a bookkeeping firm in Enfield, there is a fair chance that you might be getting stressed about the process of recording your financial data. A good bookkeeping company will be able to offer assistance with everything from invoicing, preparing expense reports and stocktaking, to linking the most suitable software application with your business accounts to facilitate the seamless arrangement of transactional data.
The reconciliation of cash flow with accounts payable is one of the most important elements of a good bookkeeping service. This means that your bookkeeper will optimise bill payments to a time when your finances are in the best possible position, instead of paying a bill straight away, or waiting for a final notice, which most small businesses in Enfield are guilty of. This is not just to ensure that your business enterprise is financially sound at all times, but also to keep you in good stead with those people who supply you with services or materials. When, as an individual, you are focussed on the operation of your business, this is a balancing act that can be tricky to accomplish.
Using a competent bookkeeper in Enfield, for your small business or if you are a sole trader also gives them the opportunity to cast an eagle eye over your financies. It's quite possible that an unbiased evaluation such as this will highlight business patterns and trends that have previously been missed. A situation where a keen eyed bookkeeper flags up an area which is falling in profits, or identifies a new opportunity that could prove worthwhile, is not at all an unheard of occurrence. For the long-term growth of any business in Enfield, it is crucial that such KPI's (key performance indicators) are spotted as early as possible.
It can often be quite uncomfortable to chase up late payments if your business sends out invoices. Having somebody from outside your normal business situation, can take away the apprehension of visiting your customers or making that phone call. There are legal strategies that a bookkeeper can use, if you have a persistent late payer, and they can help to resolve the issue before the matter ends up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal requirements for bookkeeping if you are a sole trader, are comparatively straightforward and simple. Essentially, sole traders must retain all invoices and receipts, and keep a record of income and expenditure on a monthly basis. It is still recommended to hire the services of a bookkeeping company, even if this might at first sound simple. Advising you on what bonafide business expenses you're able to claim back, a dedicated sole trader bookkeeper in Enfield will deal with HMRC on your behalf. This could include advertising, printer ink, rent and bills if working from home, stationery goods and items such as laptops. If you'd like to get more comprehensive advice, and see how your small business can develop and grow going forward, talk to your local bookkeeper.
BOOKKEEPING FOR ONLINE TRADERS IN ENFIELD
There are niche areas in bookkeeping where a specialist might be needed. For instance, if you run an online store, you will want to employ a bookkeeper in Enfield who understands international and cross-border taxes, multi-currency processing, exchange rate transfers and online payments. If the same outlet sells goods that you hold or produce, then keeping track of inventory on a 24 hours a day basis is an important concern, as I'm sure you'll realise the internet never sleeps, so neither should your bookkeeping services and software.
A remote virtual office can also be provided together with your bookkeeping services. This allows an online only business or sole trader to offer a physical connection to their buyers, via a telephone service and postal address. If this type of service could be helpful, it's definitely worth discussing, although this solution won't be provided by all bookkeeping companies in Enfield.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the bookkeeping qualifications are at Certificate and Diploma level, and it's not mandatory for a professional bookkeeper in Enfield to hold an accounting degree. Bookkeeping qualifications can be gained via further education universities and colleges but there's also a array of online courses available.
Bookkeepers are represented by 2 primary certification and training organisations:
The ICB or Institute of Certified Bookkeepers: The largest organisation of its kind on the planet is the the ICB or Institute of Certified Bookkeepers, and it offers accreditation to certified bookkeepers, together with reference material and training to keep their associated members informed about the latest trends and developments.
The Association of Accounting Technicians (AAT): Able to use the letters AATQB, a certified member of the AAT or Association of Accounting Technicians will have completed a training schedule and advanced qualifications in bookkeeping. They then become certified AAT bookkeepers, backed up by this reputable organisation, which assures a high standard of service for their customers. Bookkeepers who are members of the AAT can can be liable to tribunal and disciplinary processes if a complaint is filed against them or they are found to have contravened the code of conduct. This helps to protect the trustworthiness of AAT membership.
It's possible to check the qualifications of any bookkeeper in Enfield on the register of ICB or ATT members on their respective websites. Implementing this check is widely recommended before you employ any bookkeeper in Enfield.
Bookkeeping services are available in Enfield and also in nearby places like: New Southgate, Gordon Hill, Oakwood, Cockfosters, Bullsmoor, Chase Side, East Barnet, Buckhurst Hill, Brimsdown, Waltham Cross, Ponders End, London, Bush Hill Park, as well as in these postcodes EN1 1RQ, EN1 1RT, EN1 1HB, EN1 1FD, EN1 1LA, EN1 1PB, EN1 1HN, EN1 1LR, EN1 1QT, EN1 1EQ. Locally based Enfield Bookkeepers will likely have the postcode EN1 and the telephone code 020. Checking this out can guarantee that you're accessing local bookkeepers. Enfield sole traders and business owners are able to benefit from these and many other bookkeeping related services.
Enfield Bookkeeper Tasks
Most bookkeepers in Enfield will be ready to provide you with the following services: bookkeeping services for small business Enfield, management accounts, Xero bookkeeping, accounting and bookkeeping services in Enfield, QUOTE FORM provided. We'll get back to you with specifics just as soon as we are able.in Enfield, bookkeeping for freelancers in Enfield, Kashflow bookkeeping in Enfield, bank reconciliation, business bookkeeping, general bookkeeping services, cash flow analysis, accounting and bookkeeping, bookkeeping services for sole traders, franchise bookkeeping Enfield, Self-Assessment tax returns Enfield, invoice processing, payment services, , Sage bookkeeping services in Enfield, accountancy packages in Enfield, off-site bookkeeping services, independent bookkeeping services Enfield, corporation tax returns, professional bookkeeping services, personal tax returns Enfield, bookkeeping services for shops, management reports, credit control Enfield, VAT returns, bookkeeping for clubs, and more. Listed are just some of the activities that are accomplished by local bookkeepers. Enfield professionals will be happy to tell you about their entire range of services. If there are additional Enfield bookkeeper requirements that you want but don't see here, you can easily list them on the
Enfield Bookkeeper Questions
Not too long ago I was researching the sorts of questions people in Enfield ask in relation to bookkeeping. Quite a few of our web visitors have emailed some understandable enquiries that might be worthy of mentioning. The ones that I picked are, What makes a great bookkeeper? When is double-entry bookkeeping used? Why do small businesses need bookkeeping? Is bookkeeper and accountant the same? What are the benefits of a bookkeeping services? Which bookkeeper certification is best? What does bookkeeping entail? How much does bookkeeping cost? Does a bookkeeper need a license? I hope most of those queries have been covered somewhere on this page, and if that isn't the case we'll soon be putting in a bookkeeping "Questions and Answers" section. My thanks go out to Toby Gibson, Haider Burgess, Michal Doyle and Ryleigh Humphreys from Enfield, for finding the time to pose these questions. We also received enquiries from Aliyah Pope in Oakwood, Ethan Horne in New Southgate and Kinsley Wheatley in East Barnet.
Bookkeeper Greater London
In the Greater London area you can likewise get: Manor Park bookkeeping, Stratford bookkeeping services, Longlands bookkeeper, Battersea bookkeeping accountants, Middle Park bookkeepers, North Kensington bookkeeping accountants, Downe bookkeeping services, Chase Cross bookkeeping services, Brompton accounts services, Dollis Hill bookkeeper. All throughout the Greater London region you should be able to find bookkeepers who will offer various services for all your security requirements. If you cannot identify the right in Enfield itself you should be able to find a decent one someplace nearby., Wimbledon bookkeepers, Streatham accounts services, Ponders End bookkeeping services, Bankside bookkeeping accountants, Chingford , Parsons Green bookkeeping, Cambridge Heath bookkeeping accountants, Cann Hall accounts services, High Barnet bookkeepers, Brent , Totteridge bookkeeping accountants, New Addington accounts services, Church End bookkeeper, Cheam bookkeeping accountants, Hampton Wick , Feltham accounts services, Harold Hill bookkeeping accountants, West Ham bookkeeper, Bankside bookkeepers, Brentford
Bookkeepers Near Enfield
Also here.: Ponders End bookkeepers, Buckhurst Hill bookkeepers, Bush Hill Park bookkeepers, London bookkeepers, Waltham Cross bookkeepers, New Southgate bookkeepers, East Barnet bookkeepers, Bullsmoor bookkeepers, Brimsdown bookkeepers, Gordon Hill bookkeepers, Chase Side bookkeepers, Cockfosters bookkeepers, Oakwood and more. All of these villages and towns are serviced by local bookeepers. Enfield businesses and traders can get quotes for bookkeeping services by clicking
- Enfield Self-Assessment Bookkeeping
- Enfield PAYE and Wages
- Enfield VAT Returns
- Enfield Credit Control
- Enfield Bookkeeping Quotations
- Enfield Cash Flow Analysis
- Enfield Bookkeeping Services
- Enfield Tax Preparation
- Enfield Payroll Services
- Enfield Sole Trader Bookkeeping
- Enfield Tax Returns
- Enfield Profit and Loss Analysis
- Enfield Double-Entry Bookkeeping
- Enfield Small Business Bookkeeping
Bookkeepers Around Enfield: People living in these Enfield areas and streets have just recently inquired about bookkeeping services - Chesterfield Road, Brookside Gardens, Ashford Crescent, Capel Road, Baker Street, Chase Court Gardens, Slades Gardens, Carisbrooke Close, Cross Road, Dell Road, Stratton Avenue, Third Avenue, Acacia Road, Derby Road, Amberley Road, Bulls Cross, Apple Grove, Chantry Close, Bicknoller Road, Conical Corner, Avondale Crescent, Capstan Ride, Brigadier Avenue, Byron Court, Standard Road, St Martins Close, Beresford Gardens, as well as these Enfield area postcodes: EN1 1RQ, EN1 1RT, EN1 1HB, EN1 1FD, EN1 1LA, EN1 1PB, EN1 1HN, EN1 1LR, EN1 1QT, EN1 1EQ.
To obtain local Enfield information go here
Bookkeepers in EN1 area, telephone code 020.
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