Bookkeepers Exeter

Exeter Bookkeeping Services

Bookkeepers Exeter Devon (EX1): For any individual in Exeter who runs an online store, operates a small business or acts as a sole trader, it is their sole responsibility to maintain "true and fair", accurate financial and accounting records for at least six years. This is outlined by the 2006 Companies Act. If you are unable to produce this information, you might be disqualified as a Company Director and face a fine of thousands of pounds. There's a substantial investment of time involved with keeping these financial recordings on your own behalf, and it can pay to use a professional bookkeeper or accountant, particularly when you consider the fact that according to Accounting Today magazine over forty percent of small businesses spend over 80 hours per year doing their bookkeeping.

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The time has come to get in touch with a bookkeeper in Exeter for guidance and advice, if you're filled with a sense of dread simply thinking about writing out ledgers, tracking assets and liabilities, preparing profit, loss and financial statements or compiling balance sheets.

BOOKKEEPER OR ACCOUNTANT?

Bookkeepers Exeter Devon (EX1)

Exactly what is the difference between a bookkeeper and an accountant is the first question that a lot of small business owners in Exeter ask. At one time it was generally looked at as to be beneath the skill-sets, experience and qualifications of an accountant to do bookkeeping, however because of improvements in software over the past decade or so, many bookkeeping tasks will now be undertaken by accounting companies in Exeter. It's now fairly common for accountancy companies to have a flat rate for bookkeeping services commensurate with an independent bookkeeper's fee. This is great news for business owners in Exeter since it generates a wider variety of competition within this sector and can make the cost of your bookkeeping far more affordable than previously imagined.

The main difference of an accountant over a bookkeeper is the standard of training and qualification needed. An accountant will, at the very least, hold an accounting degree, and should have also had additional training in fiscal and business management, and taxes. While not necessarily having this level of experience and training, or holding the same financial qualifications, a bookkeeper in Exeter will undoubtedly have a good grasp of all such procedures.

RESPONSIBILITIES OF A BOOKKEEPER

The recording of day by day transactions (financial) of any business in Exeter, describes the process of bookkeeping in simple terms. This is likely to include, but is in no way limited to;

  • VAT submissions and recording.
  • Documenting the receipt of invoices and ensuring payment is completed on time.
  • Making sure that accounting and double-entry bookkeeping practices are followed at all times.
  • Monthly reconciliations and reporting.
  • Payroll services.
  • The billing of customers for work completed or goods.
  • Highlighting and rectifying any discrepancies in the financial accounts.
  • Recording of all financial incomings; cash, electronic and card payments included.
Bookkeeping Exeter UK (01392)

In accordance with the level of service you require, e.g. whether you're willing to perform a large majority of your bookkeeping work; a bookkeeper might just be necessary for double-checking your records on a fixed schedule. This ought to be every month at the bare minimum, since this will allow any mistakes or problems to be uncovered and corrected promptly. So long as you are confident of staying on top of your monetary transactions without having a negative impact on your day to day trading duties, this option can be an extremely economical trade-off.

There is a fair chance that if you are thinking of hiring a bookkeeping company, you are currently struggling with the financial recording side of your small business in Exeter. A decent bookkeeping company will be able to provide guidance and advice on everything from stocktaking, invoicing and generating expense reports, to linking your accounts with the most up-to-date computer software to enable the seamless arrangement of data.

Bookkeeping Enquiries in Exeter Devon

One of the most crucial elements of good bookkeeping, is being able to correctly reconcile cash flow with accounts payable. This means that by organising the payment of bills to times when your accounts are in good order, your bookkeeper will avoid the thing that many small businesses in Exeter are guilty of at some time or other i.e. paying off a bill straight away, or waiting for an overdue notice. This does not just keep your business on a secure financial footing, but keeps you in good stead with suppliers and the businesses who provide you with services. When, as an individual, you are inevitably focussed on running your day to day business activities, this can be a balancing act that's tricky to perform.

Bookkeeper Near Exeter Devon

Employing an experienced bookkeeper in Exeter, for your small business or if you're a sole trader also gives them an opportunity to cast an impartial eye over your business. This independent evaluation can enable them to discover business trends and patterns that might have otherwise gone unnoticed. A scenario where an astute bookkeeper flags up an area which is dropping in profits, or identifies a new opportunity that could be lucrative, is not at all an unheard of occurrence. Spotting these key performance indicators (KPI's) is essential for enabling growth in any business enterprise in Exeter.

It can often be rather humiliating to pursue a late payment if your business sends out invoices. Some of that embarrassment can be taken away by having a professional outside your business bubble make that phone call or visit to your customers. To help resolve the matter, if you've got a consistent late payer, there are methods that can be used by a professional bookkeeper, so that legal proceedings can be avoided.

SOLE TRADER'S BOOKKEEPING REQUIREMENTS

The legal bookkeeping requirements for sole traders, are pretty straightforward and basic. This involves keeping all invoices and receipts concerning the business, and tracking income and expenditure on a monthly basis. While this might sound simple it is still a good idea to retain the expertise of a bookkeeping company. When preparing your tax returns, a dedicated sole trader bookkeeper in Exeter will be in a position to advise you on what your valid business expenses are, and claim these back from HMRC. This may include promotional advertising, items such as computing equipment, stationery goods, rent and bills if you work from home and printer ink. Talk to your local bookkeeper for more comprehensive advice and learn how they might help your small business grow.

BOOKKEEPING FOR ONLINE TRADERS

Bookkeeping Services Exeter

There are niches in bookkeeping where the expertise of a specialist could be needed. If exchange rate transfers, multi-currency processing, cross-border and international taxes and online payment procedures are involved, for instance if you run a store online, you will want to hire a bookkeeper in Exeter who is familiar with these operations. Because the internet does not sleep, if that same shop sells goods that you hold or produce then keeping track of inventory on a 24 hours a day basis is a crucial priority which will need to be dealt with.

In combination with bookkeeping service, it's also possible to provide a remote virtual office. This enables an online only business or sole trader to offer a physical link with their buyers, via a postal address and phone service. Not all bookkeeping businesses in Exeter will be in a position to provide this option, however it's worthwhile discussing if it is required.

PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS

Many of the bookkeeping qualifications are at Diploma or Certificate level, and it isn't mandatory for a professional bookkeeper in Exeter to have a degree in accounting. If the preferred route to qualification is via further education colleges and universities, this is still a possibility, although there there's a number of bookkeeping courses available online.

There are essentially 2 principal organisations that offer training and certification to bookkeepers:

Local Bookkeeping Services Exeter (EX1)

The Association of Accounting Technicians or AAT: With fully certified members entitled to use the letters AATQB after their name, the Association of Accounting Technicians (AAT) provides a training schedule with advanced qualifications. This guarantees a certain standard of service to their customers which is backed by the association, and enables them to become a approved AAT bookkeeper. To protect the integrity of AAT membership, a bookkeeper who is affiliated with the AAT can be subject to tribunal and disciplinary procedures if a complaint is filed against them or they are found to have broken the code of conduct.

The ICB or Institute of Certified Bookkeepers: The ICB or Institute of Certified Bookkeepers is the largest bookkeeping organisation on the planet and offers accreditation to certified bookkeepers, together with training and reference material to keep their members up-to-date.

By visiting their respective websites, you can check out the register of ICB or ATT members, to find the qualifications of any bookkeeper. Prior to employing any bookkeeping service in Exeter, it's definitely a good idea to perform these checks.

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

Book Bookkeeper in Exeter UK

Bookkeeping services are available in Exeter and also in: Whitestone, Wonford, Whipton, Exwick, Alphington, Ide, St Thomas, Pocombe Bridge, Poltimore, Longdown, Marsh Barton, Exminster, Nadderwater, Cowley, Stoke Hill, Birchy Barton, Heavitree, and in these postcodes EX1 1SR, EX1 1YZ, EX1 1TA, EX1 1QZ, EX1 2AZ, EX1 1JJ, EX1 1GR, EX1 1AT, EX1 1SN, EX1 1DY. Locally based Exeter Bookkeepers will probably have the dialling code 01392 and the postcode EX1. Checking this can guarantee that you access locally based bookkeepers. Exeter sole traders and business owners can utilise these and countless other related services.

Exeter Bookkeeper Tasks

Bookkeeper Tasks Exeter

Most bookkeepers in Exeter will be prepared to provide you with the following bookkeeping and accounting services: bookkeeping for freelancers, cheap bookkeeping services in Exeter, bookkeeping for the self-employed in Exeter, general bookkeeping services, bookkeeping services for shops, accountancy packages Exeter, payroll bookkeeping, off-site bookkeeping services, bookkeeping rates, Self-Assessment tax returns, bookkeeping for limited companies Exeter, Kashflow bookkeeping in Exeter, invoice processing, tax returns in Exeter, cash flow analysis, bank reconciliations, bookkeeping for organisations, bookkeeping for clubs, tax preparation, bookkeeping services for charities Exeter, bookkeeping services for sole traders, professional bookkeeping services, bookkeeping services, payment services, PAYE & wages, bookkeeping for retail outlets Exeter, and more. These are just an example of the activities that are carried out by local bookkeepers. Exeter providers will be happy to inform you of their entire range of services. If there are some other Exeter bookkeeper requirements that you need but can't see here, you can list them on the QUOTE FORM provided. We will get back to you with information as soon as we can.

Exeter Bookkeeper Questions

Exeter Bookkeeping Questions

Yesterday I was reviewing the typical questions that people ask in regard to bookkeeping in Exeter. A good few of you have sent in some noteworthy enquiries that might be worth a mention here. Those that I picked were, When should I hire a bookkeeper? What are the advantages of an accountant over a bookkeeper? How is bookkeeping different from accounting? What are a bookkeeper's duties? How can a bookkeeper help my business in Exeter? Where can I hire a bookkeeper in Exeter? Should a bookkeeper be bonded? How much is a bookkeeper per hour? When is single-entry bookkeeping used? I hope nearly all of these queries have been answered in the preceding paragraphs, and if that is not the case a bookkeeping "Q&A" feature is the next thing we're going to introduce. Our gratitude goes out to these people for taking the time to send in these excellent questions; Felix Price, Rio Ball, Farhan Robson and Lyla Flynn. It was also good to receive enquiries from Gabriella Gibbons in Alphington, Braxton Chamberlain in St Thomas and Adeline Harrington in Nadderwater.

EXETER BOOKKEEPING QUOTES

Bookkeepers Near Exeter

Also find: Cowley bookkeepers, Longdown bookkeepers, Exwick bookkeepers, Exminster bookkeepers, Ide bookkeepers, Whitestone bookkeepers, Pocombe Bridge bookkeepers, Wonford bookkeepers, Nadderwater bookkeepers, Marsh Barton bookkeepers, St Thomas bookkeepers, Alphington bookkeepers, Whipton bookkeepers, Birchy Barton bookkeepers, Poltimore bookkeepers, Heavitree bookkeepers, Stoke Hill bookkeeper and more. All these villages and towns are covered by local bookeepers. Exeter businesses can get quotes for bookkeeping services by clicking here.

Bookkeeping Services Exeter

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Exeter Bookkeeping Services (01392)
  • Exeter Bookkeeping Services
  • Exeter PAYE Wages and CIS
  • Exeter Credit Control
  • Exeter Small Business Bookkeeping
  • Exeter Tax Returns
  • Exeter Payroll Services
  • Exeter Cheap Bookkeeping
  • Exeter Tax Preparation
  • Exeter Sole Trader Bookkeeping
  • Exeter Profit and Loss Reporting
  • Exeter Self-Assessment Bookkeeping
  • Exeter Double-Entry Bookkeeping
  • Exeter Cash Flow Analysis
  • Exeter Bookkeeping Quotes

Bookkeepers Around Exeter: People who live in these local Exeter streets have recently inquired about bookkeeping services - Castle Mount, Browning Close, Sylvan Road, Chanter Court, Southernhay West, Six Acre, Bowring Close, Clyst Valley Road, Brunswick Street, Bittern Road, California Close, Sleepy Hollow, Acland Terrace, Spinning Path, Buller Road, Saddlers Close, Two Acre Court, Sydney Road, Burns Avenue, Brookleigh Avenue, Dawn Close, Clarence Road, Swan Road, Birch End, Sivell Mews, Courtenay Close, St Lawrence Crescent, Crediton Road, as well as the following local Exeter postcodes: EX1 1SR, EX1 1YZ, EX1 1TA, EX1 1QZ, EX1 2AZ, EX1 1JJ, EX1 1GR, EX1 1AT, EX1 1SN, EX1 1DY.

If you need local information on Exeter, Devon click here

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Bookkeepers in EX1 area, 01392.

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(This bookkeepers Exeter article was revised and updated on 26-08-2022)