Bookkeepers Ewell Surrey (KT17): In accordance with the Companies Act, if you operate an online store, run a small business or are a sole trader in Ewell, you're responsible for maintaining accurate, "true and fair" financial and accounting records for a minimum of 6 yrs. If you cannot produce such records you face a fine of thousands of pounds and possibly disqualification as a Company Director. It can pay to use a professional bookkeeping service or accountant to accomplish this for you, given that according to the trade magazine Accounting Today over 40% of small business owners spend over 80 hours per year on their bookkeeping activities, which is a substantial investment of time, and may be more efficiently spent on your core business activities.
The time has come to get in touch with a bookkeeper in Ewell for guidance and advice, if the idea of creating profit, loss and fiscal reports, tracking assets and liabilities, producing balance sheets or filling out ledgers brings you feelings of dread.
BOOKKEEPER OR ACCOUNTANT?
For many business owners in Ewell, an obvious question when faced with this challenge is "Exactly what is the distinction between a bookkeeper and an accountant?" The reality is that whilst at one time the bookkeeping process, was considered to be beneath the qualifications, skill set and experience of an accountant, due to software developments over the past decade, many accountancy firms in the Ewell area will now undertake bookkeeping tasks. Many accountancy companies now charge a fixed rate for bookkeeping services, to keep them consistent with what a typical bookkeeper in Ewell would generally charge. This is great news for business owners in Ewell since it offers a wider range of competition within the industry and can make the cost of your bookkeeping cheaper than previously imagined.
The level of qualification and training that's needed is the big difference between an accountant and a bookkeeper. An accountant will, at the very least, hold an accounting degree, and will have also had specialist training in business and fiscal management, and taxes. Whilst having a good understanding of such procedures, a bookkeeper in Ewell may not have the same levels of training and experience, or hold these qualifications.
A BOOKKEEPER'S RESPONSIBILITIES
Essentially, the process of bookkeeping is to record the day by day transactions (financial) of any enterprise or business in Ewell. This is likely to include, but is in no way limited to;
- Documenting of all financial incomings; card, cash and electronic payments included.
- VAT submissions and recording.
- The billing of customers for work completed or goods.
- Payroll services.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Recording invoices received and making certain that payment is completed on time.
- Ensuring accounting and double-entry bookkeeping practices are implemented.
- Monthly reporting and reconciliation.
Based on the level of service you require, a professional bookkeeper may just be needed to periodically double-check your records, if you're in a position to do the larger part of the bookkeeping work yourself. To enable any problems or mistakes to be uncovered and rectified speedily, this ought to be every month at the bare minimum. This may be an extremely cost-effective trade-off, provided that you are confident of keeping up-to-date with your monetary transactions without affecting your day by day business activities.
If you are presently looking to hire a bookkeeping company in Ewell, whatever your situation is, there's a fair chance that you might be having problems with your financial recording procedures. Offering advice and guidance on everything from stocktaking, preparing expense reports and invoicing, a good bookkeeping service will also be able to guide you through the process of linking your business accounts with the latest software application to facilitate the seamless processing of all your business's transaction data.
One of the most crucial aspects of good bookkeeping practice, is the ability to efficiently reconcile accounts payable with cash flow. Which means that rather than paying an outstanding bill immediately, or waiting on an overdue notice, which most small businesses in Ewell are guilty of at some time or other, your bookkeeper will schedule the payment of bills to times when your accounts are in good shape. This not only keeps you in the good books of suppliers and those people who supply you with services, but also ensures that your business enterprise is on a good financial footing. When, as an individual, you're inevitably focussed on the smooth running of your business, this can be a juggling act that is challenging to perform.
If you're a sole trader, or run a small business, using a certified bookkeeper in Ewell, also gives them an opportunity to cast a critical eye over the operation of your business. Business trends and patterns that might have otherwise gone unnoticed may be pinpointed by this kind of independent assessment. A situation where an astute bookkeeper flags an area of the business which is decreasing in profits, or spots a new opportunity that could prove lucrative, is by no means an unheard of occurrence. Such KPI's (key performance indicators) are essential in ensuring the growth of any business enterprise in Ewell.
If you give out invoices as part of your business operations, having to chase up late payments can be fairly embarrassing. If that phone call or visit to your customers is done by an independent person from outside your business situation, it is possible for some of that apprehension to be eliminated. There are legal solutions that a bookkeeper can employ, if you're troubled with a persistent late payer, and these can help to resolve the situation before the issue winds up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal requirements for bookkeeping if you're a sole trader, are comparatively straightforward and basic. This involves saving all receipts and invoices concerning the business, and keeping a record of income and expenditure on a month by month basis. Now, this does not seem too difficult does it? However, it is still recommended that you retain the services of a bookkeeping company to make certain that it's all done correctly. Advising you on what legitimate business expenses you can claim back, a dedicated sole trader bookkeeper in Ewell will deal with HMRC on your behalf. This may include rent and bills if you work from home, items such as computers, promotional advertising, stationery and printer ink. For more comprehensive advice, chat to your local bookkeeper, and see how they may be able to help your business to thrive and grow in the future.
Specialistare occasionally needed for certain niches in bookkeeping. You are going to require a bookkeeper in Ewell who understands online payment procedures, multi-currency processing, cross-border and international taxes and exchange rate transfers, if you manage an online store for example. Keeping track of your inventory on a 24 hours a day basis is also an important priority, if the same outlet sells goods that you hold or produce, as I'm sure you'll be aware the internet does not sleep, so neither should your bookkeeping services and software.
It is also possible to provide a remote virtual office, which can be utilised in combination with your bookkeeping service. Offering a physical link with their customers, this enables a sole trader or online only business to have a postal address and telephone service. If this type of service is needed, it is definitely worth talking about the possibilities, although this solution won't be offered by all Ewell bookkeepers.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It is not mandatory for a professional bookkeeper in Ewell to hold a university degree, and a lot of the bookkeeping qualifications are held at Diploma and Certificate level. Bookkeeping qualifications can be gained through further education universities and colleges but there's also a growing choice of online courses available.
Representing bookkeepers, there are 2 main certification and training organisations:
The Institute of Certified Bookkeepers (ICB): The ICB or Institute of Certified Bookkeepers is the largest on the planet and supplies accreditation to certified bookkeepers, along with training and reference material to keep their associated members up-to-speed with the latest trends and innovations.
The AAT or Association of Accounting Technicians: Able to use the letters AATQB, a fully trained member of the Association of Accounting Technicians or AAT will have undergone a training schedule and advanced qualifications in bookkeeping practice. This then entitles them to become a approved AAT bookkeeper and assures a standard of service which is backed by the organisation. To preserve the values and integrity of AAT membership, if a bookkeeper who's a member of the AAT has a complaint filed against them or is found to have contravened the code of practice they may be liable to disciplinary and tribunal procedures.
By visiting their websites, you can examine the accreditations of any professional Ewell bookkeeper on the register of AAT or ICB members. Prior to employing the services of any bookkeeping company in Ewell, it is certainly a wise idea to undertake these checks.
Bookkeeping services are available in Ewell and also in nearby places like: Stoneleigh, Worcester Park, Cheam, Chessington, Belmont, Claygate, Banstead, West Sutton, Tolworth, West Ewell, East Ewell, Hook, Malden Manor, Sutton, Epsom, Motspur Park, together with these postcodes KT17 1UH, KT17 1NT, KT17 1XH, KT17 2RW, KT17 3EG, KT17 3DP, KT17 1JF, KT17 1TQ, KT17 1NX, KT17 1NN. Locally based Ewell Bookkeepers will most likely have the telephone dialling code 020 and the postcode KT17. Checking this should guarantee you are accessing locally based bookkeepers. Ewell sole traders and business owners are able to utilise these and countless other similar services.
Bookkeeping Ewell - Outsourcing Options
All businesses in Ewell should understand the significance of bookkeeping. It helps business people monitor their outgoings and incomings, the money left in the bank account, the sum total of their liabilities and assets, and so forth. With the owner of the business having to deal with a lot of concerns and issues while operating a business, the task of carrying out the bookkeeping is often outsourced to a bookkeeping company or freelance bookkeepers in Ewell.
If a company in Ewell hires a bookkeeper in order to become an employee, the company will need to spend a substantial amount of money in training the person for the purpose of doing the bookkeeping tasks. In addition to that, there is no guarantee that he or she will stay after the training is completed. In that case, the company stands to lose a considerable amount of money. Apart from that, businesses will have to look for ways and means to provide benefits and incentives to keep the employee there. These are a few of the reasons behind business organisations enlisting the services of professional bookkeepers and bookkeeping companies in Ewell.
The business owner in Ewell can look for the following options with the bookkeeping company that offer outsourcing services. Check and find out how much savings he can enjoy by outsourcing the bookkeeping work. Since the expenses related to hiring and training the in-house staff is a great concern, it would be wise on the part of business owner to focus on an outsourcing company that can offer good savings. Try to get first hand information regarding the systems and methods employed by the company involved in bookkeeping services. It is very much important to get quality accounting services and greater security for your financial data. By quality, one means reliable, precise, and real-time bookkeeping data delivered within the set time. In short, the company that offers bookkeeping services in Ewell should have a well protected system that can be relied on and trusted.
Ewell Bookkeeper Tasks
Most Ewell bookkeepers will be willing to offer you the following bookkeeping services: partnership returns in Ewell, bank reconciliation, wages & PAYE, bookkeeping services for freelancers Ewell, QUOTE FORM provided. We'll get back to you with details just as soon as we are able., bookkeeping services for restaurants, charity bookkeeping Ewell, bookkeeping for societies, bookkeeping services for limited companies, VAT returns, general bookkeeping services, bookkeeping price quotes, personal tax returns Ewell, in Ewell, Kashflow bookkeeping services, bookkeeping services for the self-employed Ewell, bookkeeping services Ewell, credit control Ewell, double-entry bookkeeping, landlord bookkeeping Ewell, maintaining fixed asset registers, professional bookkeeping services Ewell, bookkeeping services for organisations in Ewell, bookkeeping and accounting, invoice processing, bookkeeping for tradesmen, Xero bookkeeping services in Ewell, bookkeeping for shops in Ewell, profit & loss reports in Ewell, bookkeeping for payroll, and more. Listed are just a selection of the tasks that are accomplished by local bookkeepers. Ewell providers will inform you of their whole range of services. If there are additional Ewell bookkeeper requirements that you need but don't see here, you can easily mention them on the
Ewell Bookkeeper Questions
In recent days I've been having a good look at the most commonplace questions that people ask about bookkeeping in Ewell. A number of our web visitors e-mailed some compelling enquiries that may be applicable to this post. The ones I picked out were, Can a bookkeeper be held liable? How much do bookkeeping services cost? Does a bookkeeper need a degree? Who needs a bookkeeper in Ewell? How do bookkeeping services work? Can anyone do bookkeeping? What are the benefits of a bookkeeping services? How is bookkeeping differentiated to accounting? What makes a great bookkeeper? We hope that most of those enquiries have been answered on this page, and if some remain unanswered a bookkeeping "Q&A" feature is a feature we will be adding before very long. Our thanks go to the following people for finding the time to present their excellent questions; Liam Ellis, Hassan Begum, Yaqub Read and Kinsley Waters. Interesting questions were also received from Avery Franklin in Cheam, Giovanni Ratcliffe in East Ewell and Avery Stubbs in Claygate.
Bookkeepers Near Ewell
Also here.: Banstead bookkeepers, East Ewell bookkeepers, Hook bookkeepers, Motspur Park bookkeepers, West Ewell bookkeepers, Epsom bookkeepers, Stoneleigh bookkeepers, Cheam bookkeepers, Sutton bookkeepers, Worcester Park bookkeepers, Belmont bookkeepers, Chessington bookkeepers, Tolworth bookkeepers, Malden Manor bookkeepers, Claygate bookkeepers, West Sutton and more. All these locations are catered for by local bookeepers. Ewell businesses and traders can get pricing for bookkeeping services by clicking
- Ewell Bookkeeping Quotes
- Ewell Profit and Loss Reporting
- Ewell Double-Entry Bookkeeping
- Ewell Sole Trader Bookkeeping
- Ewell Tax Preparation
- Ewell Bookkeeping Services
- Ewell Self-Assessment Bookkeeping
- Ewell Cash Flow Analysis
- Ewell Payroll Services
- Ewell Tax Returns
- Ewell Credit Control
- Ewell VAT Returns
- Ewell Wages and PAYE
- Ewell Small Business Bookkeeping
Bookkeepers Around Ewell: People living in these nearby Ewell streets have recently enquired about bookkeeping services - The Ridings, The Headway, Kingston Road, Church Street, Carpenter Close, Windmill Avenue, Hampton Grove, Langton Avenue, Old Schools Lane, The Green, Curvan Close, Ewell Downs Road, High Street, Hessle Grove, Ewell House Grove, Old House Close, Meadow Walk, Beech Walk, The Orchard, Beaufort Way, Mill Lane, Portway Crescent, Wallace Fields, Shaw Close, London Road, as well as the following local Ewell postcodes: KT17 1UH, KT17 1NT, KT17 1XH, KT17 2RW, KT17 3EG, KT17 3DP, KT17 1JF, KT17 1TQ, KT17 1NX, KT17 1NN.
To read local Ewell info click here
More Surrey Bookkeepers: More Windlesham, Cranleigh, Dorking, Guildford, Leatherhead, Sunbury-on-Thames, Banstead, Epsom, Caterham, Molesey, Esher, Horley, Hersham, Chertsey, Godalming, Ash, Reigate, Redhill, Staines, Woking, Haslemere, Camberley, Addlestone, Walton-on-Thames, Weybridge, Ewell and Farnham.:
Bookkeepers in KT17 area, 020.
Bookkeeping Services Ewell - VAT Returns Ewell - Small Business Bookkeepers Ewell - Sole Trader Bookkeeping Ewell - 020 - Sole Trader Bookkeepers Ewell - Bookkeeping Ewell - Xero Bookkeeping Ewell - Bookkeeping Quotes Ewell