Bookkeepers Faversham

Faversham Bookkeeping Services

Bookkeepers Faversham Kent (ME13): As stated by the Companies Act, if you own a small business, operate an online store or are a sole trader in Faversham, you are entirely responsible for keeping accurate, "true and fair" accounting and financial records for a minimum of 6 years. Failing to produce such detailed records could leave you faced with a fine of thousands of pounds and perhaps Company Director disqualification. According to the trade magazine Accounting Today over forty percent of small businesses spend 80 plus hours annually on their accounts, so although you can carry out these financial recordings on your own behalf, it can pay you to employ a professional bookkeeper or accountant to do them for you.

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It is high time to get in touch with a bookkeeper in Faversham for assistance, if the idea of preparing profit, loss and financial statements, filling out ledgers, producing balance sheets or tracking liabilities and assets brings you feelings of panic.

BOOKKEEPER OR ACCOUNTANT?

Bookkeepers Faversham Kent (ME13)

For many business owners in Faversham, an obvious question when faced with this challenge is "What is the difference between an accountant and a bookkeeper?" The reality is that whilst in the past the process of bookkeeping, was deemed beneath the skill set, experience and qualifications of an accountant, due to software improvements over the past 10 years, a lot of accountancy companies in the Faversham area will now take on bookkeeping. For many accounting firms it's now common practice to charge a fixed fee for bookkeeping services, so that they're comparable to the standard charges of a typical bookkeeper in Faversham. This means the cost of bookkeeping is more manageable than it once was, and is good news for small business owners in Faversham since it provides a broader range of competition within the marketplace.

When considering the main difference between a bookkeeper and an accountant in Faversham, it's the standard of qualification and training that is necessary for each discipline. An accountant will, at the minimum, hold an accounting degree, and will have also had further training in business and financial management, and taxes. Whilst having an understanding of these disciplines, a bookkeeper in Faversham may not have the same levels of experience and training, or hold these qualifications.

RESPONSIBILITIES OF A BOOKKEEPER IN FAVERSHAM

The recording of day by day financial transactions of any business in Faversham, describes the act of bookkeeping in the simplest of terms. This is likely to include, but is by no means limited to;

  • Highlighting and rectifying any discrepancies in the financial accounts.
  • Ensuring accounting and double-entry bookkeeping practices are followed.
  • Logging of all financial incomings; including cash, card and electronic payments.
  • VAT recording and submissions.
  • The billing of customers for work completed or goods.
  • Monthly reports and reconciliation.
  • Payroll services.
  • Documenting invoices received and ensuring payment is completed by the due date.
Bookkeeping Faversham UK (01795)

Depending on the level of service you're looking for, e.g. whether you are prepared to perform the bulk of your bookkeeping work; a professional bookkeeper might just be necessary for double-checking your figures on a set schedule. This should really be done every month at the bare minimum, since this will allow any mistakes or problems to be discovered and corrected quickly. This might be the most cost-effective trade-off, as long as you're confident of staying on top of your monetary transactions without affecting your daily business activities.

There is a fair chance that if you are considering hiring a bookkeeper in Faversham, you're currently stressed with the financial recording side of your small business. A professional bookkeeper will be able to provide advice and guidance on everything from preparing expense reports, stocktaking and invoicing, to linking your accounts with the latest, most up-to-date software program to allow the seamless arrangement of transactional data.

Bookkeeping Enquiries in Faversham Kent

The successful reconciliation of cash flow with accounts payable is one of the most vital aspects of good bookkeeping. Which means that instead of paying an outstanding bill immediately, or waiting for an overdue notice, which a lot of small businesses are guilty of doing, your bookkeeper will organise the payment of bills to a time when your finances are in good order. This doesn't just keep you in good stead with suppliers and those who supply you with services, but also makes sure that your enterprise or business is on a good financial footing. When you are purely focussed on the smooth running of your business, this is a balancing act that you may find difficult to accomplish as an individual.

Bookkeeper Near Faversham Kent

Having somebody who isn't affiliated with the business cast an eye over your financial dealings, is another added advantage of employing a professional bookkeeper in Faversham for your small business or if you are a sole trader. Business patterns and trends that might have otherwise gone unnoticed may be highlighted by this type of nonpartisan appraisal. It's not unusual for a bookkeeper to recognise an opportunity or flag up an area where profits are dropping off. For the success of any small business in Faversham, it is vital that these KPI's (key performance indicators) are spotted early on.

Chasing up a late payment can be an embarrassing situation for you, if you send out invoices as part of your business operations. If that visit to your customers or phone call is made by someone outside your business bubble, it is possible for some of that embarrassment to be eliminated. A bookkeeper can employ legal methods to take care of a consistent late or non-payer, and without having to resort to court proceedings, help to clear up the matter.

SOLE TRADER'S BOOKKEEPING REQUIREMENTS

The requirements for bookkeeping by a sole trader, as laid out by law, are comparatively uncomplicated and easy to understand. In essence, sole traders should keep all receipts and invoices, and track income and expenditure on a month by month basis. It is still recommended to hire the expert services of a bookkeeper, even though this might sound simple enough. So that you can claim back any genuine business expenses from HMRC, a dedicated sole trader bookkeeper in Faversham will be happy to advise you on what you have to do. This may include bills and rent if you work from home, consumables, stationery, items such as computing equipment and advertising expenses. Talk to a trusted bookkeeper for more in-depth advice and see how they can help your small business to grow and prosper.

BOOKKEEPING FOR ONLINE TRADERS IN FAVERSHAM

Bookkeeping Services Faversham

Some business enterprises that operate in niche areas, may need to retain the services of a specialised bookkeeping service. For instance, if you run an online store, you will be better off employing a bookkeeper in Faversham who's familiar with international and cross-border taxes, multi-currency processing, online payments and exchange rate transfers. Since the internet does not sleep, if the same outlet sells goods that you hold or produce then overseeing inventory on a 24/7 basis is a vital priority which will need to be dealt with.

In combination with bookkeeping service, a remote virtual office can also be supplied. This can be valuable in enabling a sole trader or online only business to have a telephone service and postal address to offer a physical connection to their client base. Although this option may not be supplied by all Faversham bookkeeping businesses, it's definitely worth discussing the possibilities if this is something that could be advantageous.

PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS

A certified bookkeeper in Faversham doesn't need to hold a degree and a great many this sector's qualifications are at Diploma and Certificate level. Although there is a array of online courses available, bookkeeping qualifications can still be obtained via further education colleges and universities, if that is the preferred route.

There are basically 2 main organisations that offer certification and training to bookkeepers:

Local Bookkeeping Services Faversham (ME13)

The Institute of Certified Bookkeepers (ICB): The largest bookkeeping organisation on the planet is the the Institute of Certified Bookkeepers (ICB), and it supplies certification for qualified bookkeepers, along with reference material and training to ensure their members are up-to-date with the latest trends.

The AAT or Association of Accounting Technicians: Entitled to use the letters AATQB after their name, a certified member of the AAT or Association of Accounting Technicians will have completed advanced qualifications and a training schedule in bookkeeping. This promises a high standard of service to their customers which is backed up by the association, and entitles them to become a certified AAT bookkeeper. AAT bookkeepers can can be subject to tribunal and disciplinary procedures if they have a complaint against them or are found to have violated the code of conduct. This helps to preserve the integrity and values of the AAT.

The accreditations of any bookkeeper in Faversham can be verified on the register of AAT or ICB members on their respective websites. Implementing this check is strongly recommended before you hire the services of any professional bookkeeper in Faversham.

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Book Bookkeeper in Faversham UK

Bookkeeping services are available in Faversham and also nearby in: Yorkletts, Murston, Graveney, Conyer, Hernhill, Selling, Oare, Eastling, Teynham, Luddenham, Ospringe, Norton, Shieldwich, Painters Forstal, Dargate, Lynsted, Newnham, as well as in these postcodes ME13 3BH, ME13 7BG, ME13 7JW, ME13 7PE, ME13 7BT, ME13 7JJ, ME13 7AD, ME13 7JQ, ME13 7LB, ME13 7QD. Locally based Faversham Bookkeepers will probably have the postcode ME13 and the phone code 01795. Checking this out should guarantee that you access locally based bookkeepers. Faversham sole traders and business owners will be able to utilise these and various other comparable services.

Coming Shortly:

Franchise bookkeeping Faversham.

Faversham Bookkeeper Questions

Faversham Bookkeeping Questions

Last Monday I was researching the most commonplace questions folks in Faversham ask in relation to bookkeepers. A few of our visitors submitted some obvious questions that I thought would be worth a mention here. The ones that I singled out are, Can bookkeeping be done remotely? Does a bookkeeper have to be registered? Why is bookkeeping so important? When should I outsource bookkeeping? What are the advantages of an accountant over a bookkeeper? How can a bookkeeper help my business in Faversham? How does bookkeeping differ from accounting? How much does a bookkeeper charge per hour? What are a bookkeeper's duties? The majority of these questions will have hopefully been covered on this webpage, and if that isn't the case we'll soon be adding a bookkeeping "Q&A" section. Our thanks go out to Toby Baker, Adrian Rose, Kenzie Heath and Gabrielle Wall from Faversham, for taking time out to send in their questions. We also received contributions from Reagan Wallis in Painters Forstal, Jackson Waller in Conyer and Daniela Prior in Oare.

Faversham Bookkeeper Tasks

Bookkeeper Tasks Faversham

Most bookkeepers in Faversham will be prepared to offer you the following bookkeeping and accounting services: cash flow analysis in Faversham, payment services, letting agent bookkeeping Faversham, cash books, profit & loss reports, charity bookkeeping Faversham, credit control, tax preparation, bookkeeping for home-based businesses, assistance with registering for self-employment in Faversham, tax returns in Faversham, mobile bookkeeping services, corporation tax returns in Faversham, accounting and bookkeeping, Sage bookkeeping services, professional bookkeeping services, bookkeeping for sole traders, small business bookkeeping Faversham, management accounts, bookkeeping and accounting services, Xero bookkeeping services, franchise bookkeeping Faversham, bookkeeping services for limited companies, accountancy packages, double-entry bookkeeping Faversham, bookkeeping for tradesmen in Faversham, bookkeeping for self-employed in Faversham, partnership returns in Faversham, and more. These are just a few of the duties that are conducted by local bookkeepers. Faversham providers will be happy to tell you about their entire range of services. If there are additional Faversham bookkeeper requirements that you want but can't see here, you should list them on the QUOTE FORM provided. We will be in touch with details just as soon as we are able.

FAVERSHAM BOOKKEEPING QUOTES

Bookkeepers Near Faversham

Also find: Eastling bookkeepers, Conyer bookkeepers, Dargate bookkeepers, Ospringe bookkeepers, Oare bookkeepers, Teynham bookkeepers, Luddenham bookkeepers, Painters Forstal bookkeepers, Newnham bookkeepers, Hernhill bookkeepers, Graveney bookkeepers, Lynsted bookkeepers, Norton bookkeepers, Yorkletts bookkeepers, Selling bookkeepers, Shieldwich bookkeepers, Murston bookkeeper and more. The majority of these villages and towns are catered for by local bookeepers. Faversham businesses can get fees for bookkeeping services by going here.

Bookkeeping Services Faversham

Find a Bookkeeper in Faversham Here
Faversham Bookkeeping Services (01795)
  • Faversham Credit Control
  • Faversham Bookkeeping Estimates
  • Faversham Accountancy Packages
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  • Faversham Self-Assessment Tax Returns
  • Faversham VAT Returns
  • Faversham Small Business Bookkeeping
  • Faversham Cash Flow Management
  • Faversham Profit and Loss Analysis
  • Faversham Sole Trader Bookkeeping
  • Faversham Payroll Services
  • Faversham Self-Assessment Bookkeeping
  • Faversham Cheap Bookkeeping
  • Faversham Wages PAYE and CIS

Bookkeepers Around Faversham: People living in the following Faversham roads have recently requested bookkeeping services - Box Lane, Cremer Place, Bedlington Square, Amos Close, Cambridge Road, St Pauls Road, Sheerways, Bayfield, Belmont, Solomons Lane, Alexander Close, Bensted Grove, Cobham Chase, Beech Close, Salters Lane, Abbey Fields Court, The Maltings, Swale View, Cheney Road, The Mall, Church Road, Ashford Road, Canterbury Road, Sumpter Way, Seasalter Road, as well as these local Faversham postcodes: ME13 3BH, ME13 7BG, ME13 7JW, ME13 7PE, ME13 7BT, ME13 7JJ, ME13 7AD, ME13 7JQ, ME13 7LB, ME13 7QD.

Info on Faversham can be located here

Bookkeeping Jobs Faversham: See bookkeeping jobs in Faversham by clicking here: Faversham Bookkeeping Jobs

Bookkeepers in ME13 area, phone code 01795.

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(This bookkeepers Faversham article was last updated on 25-01-2023)