Bookkeepers Folkestone Kent (CT18): If you are a sole trader, run a small business or operate an online store in Folkestone, you are responsible for maintaining accurate, "true and fair" financial and accounting records for a minimum of 6 yrs in accordance with the 2006 Companies Act. Failing to produce these detailed records could leave you facing disqualification as a Company Director, together with thousands of pounds in fines. The trade magazine Accounting Today claims that over forty percent of small businesses spend over 80 hours every year on their bookkeeping, so although you can complete these financial recordings on your own, it's often more cost-effective to employ a professional accountant or bookkeeper to do them for you.
The time has come to contact a bookkeeper in Folkestone for assistance, if the thought of creating profit, loss and financial statements, compiling balance sheets, writing out ledgers or tracking liabilities and assets fills you with a sense of panic.
BOOKKEEPER OR ACCOUNTANT?
A frequent question that is asked by a lot of small business owners in Folkestone is "What is the distinction between a bookkeeper and an accountant?" The fact is, due to massive improvements in software over the past 10 yrs or so many accountancy firms in the Folkestone area will undertake the task of bookkeeping, which at one time was considered to be beneath their qualifications, experience and skill set. It is quite common for many accountancy companies to have a fixed fee for bookkeeping services as per a typical bookkeeper's fee. This means the cost of bookkeeping is cheaper than it previously was, and is fantastic news for small businesses in Folkestone as it provides a wider variety of competition within this sector.
The main difference between an accountant and a bookkeeper is the level of training and qualification that is necessary. An accountant will typically a least hold a degree in accounting with further training in the field of taxes and other financial and business management. Althoughin Folkestone will have a fair grasp of these fiscal skills, they might not necessarily have the same levels of training and experience in this field, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER IN FOLKESTONE
In the simplest of terms, the bookkeeping process involves the logging of day by day transactions (financial) of any business enterprise in Folkestone. This could include, but isn't limited to;
- Monthly reconciliation and reports.
- Payroll services.
- Ensuring accounting and double-entry bookkeeping practices are observed.
- Recording of all financial incomings; including cash, electronic and card payments.
- The billing of customers for goods or work completed.
- Recording the receipt of invoices and making sure that payment is completed by the due date.
- VAT recording and submissions.
- Highlighting any discrepancies in financial accounts and rectifying them.
If you're happy to carry out the majority of your bookkeeping work yourself; a professional bookkeeper may just be needed to double check your records every once in a while. To enable any mistakes or problems to be discovered and rectified swiftly, this should really be done monthly at the bare minimum. If you are confident of keeping on top of your daily trading and financial transactions, this compromise can sometimes be the most economical.
Whatever your current situation is, if you are seriously thinking of hiring a bookkeeper it's a good bet that you might be stressed with the financial recording aspects of your small business in Folkestone. A decent bookkeeping company will help you out with everything from invoicing, creating expense reports and stocktaking, to linking the latest software with your accounts to seamlessly of your transaction information.
The successful reconciliation of cash flow with accounts payable is one of the most vital aspects of a good bookkeeping service. Which means that your bookkeeper will optimise bill payments to a time when your accounts are in good shape, instead of paying an outstanding bill right away, or waiting for a final notice, which most small businesses in Folkestone are guilty of at some time or other. This doesn't just keep your business enterprise financially stable, but keeps you in the good books of suppliers and those businesses who provide you with services. This is one of those balancing acts that can be difficult to perform when you're purely focussed on the streamlined running of your day to day business activities.
If you are a sole trader, or own a small business, using a professional bookkeeper in Folkestone, also gives them an opportunity to cast an unbiased eye over the running of your business. Business patterns and trends that you may have overlooked could be pinpointed by this type of nonpartisan evaluation. A bookkeeper spotting a new opportunity or noticing an area which is dropping in profits, is by no means unusual. Spotting such KPI's (key performance indicators) is essential for the long-term growth of any business in Folkestone.
If you give out invoices as part of your business operations, needing to pursue late payments can be quite awkward. Having somebody from outside your business situation, can take the awkwardness out of making that telephone call or visit to your clients. If you have a repeating late payer there are legal procedures that a professional bookkeeper can use to help resolve the issue before the situation ends up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
As a sole trader the requirements for bookkeeping, as laid out by law, start off fairly straightforward. It is required that sole traders must monitor expenditure and income on a month by month basis and keep all invoices and receipts. While this may sound easy it is still recommended that you hire the expert services of a competent bookkeeper. Advising you on what bonafide business expenses you're able to claim back, a specialist sole trader bookkeeper in Folkestone will look after your dealings with HMRC. This might include bills and rent if you work from home, stationery goods, printer ink, promotional advertising and items such as computing equipment. For more comprehensive advice, speak to your local bookkeeper, and discover how they might help your business to grow moving forward.
ONLINE TRADERS IN FOLKESTONE
There are several business niches where a specialist bookkeeper could be necessary. If you manage an online store for example, you are going to require a bookkeeper in Folkestone who understands multi-currency processing, international and cross-border taxes, exchange rate transfers and online payment procedures. If you hold or produce the merchandise that you distribute on that shop, then it's going to be a huge priority for your bookkeeping services and software to control your your stock on a 24 hours a day basis, given that the internet does not sleep.
A virtual office can also be provided in combination with your bookkeeping services. Providing a physical connection to their buyers, this allows a sole trader or online only business to have a telephone service and postal address. It's certainly worth discussing this possibility if it is needed, although not all Folkestone bookkeeping companies will offer this solution.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the bookkeeping sector are at Certificate and Diploma level, and a certified bookkeeper in Folkestone need not hold a degree. There is a growing variety of online courses available, although bookkeeping qualifications can still be gained through further education colleges and universities.
Representing bookkeepers, there are two primary certification and training organisations:
The AAT (Association of Accounting Technicians): Providing advanced qualifications and training, the Association of Accounting Technicians (AAT), entitles a fully trained bookkeeper to use the letters AATQB. They're then permitted to become approved AAT bookkeepers, which assures their customers a certain standard of service which is backed up by the association. AAT bookkeepers can can be subject to tribunal and disciplinary procedures if they have a complaint filed against them or are found to have contravened the code of practice. This helps to safeguard the trustworthiness of the AAT.
The ICB or Institute of Certified Bookkeepers: The largest organisation anywhere in the world is the the ICB or Institute of Certified Bookkeepers, and it offers accreditation to bookkeepers, along with training and reference material to keep their members current with the latest trends and developments.
The qualifications of any bookkeeper in Folkestone can be checked on the register of ICB or ATT members on their respective websites. Before getting involved with any bookkeeper in Folkestone it's a good idea to implement this check.
Bookkeeping services are available in Folkestone and also in nearby places like: Etchinghill, Sandgate, Lower Standen, Elham, Capel le Ferne, West Hougham, Stanford, Palmarsh, Cheriton, Saltwood, Lyminge, Densole, Church Hougham, Alkham, Seabrook, and in these postcodes CT19 4DZ, CT19 4JA, CT18 8AZ, CT18 8AU, CT19 4ET, CT19 4NX, CT18 7AB, CT19 4EX, CT19 4DL, CT18. Local Folkestone Bookkeepers will most likely have the postcode CT18 and the phone code 01303. Checking this should guarantee you are accessing local bookkeepers. Folkestone sole traders and business owners are able to utilise these and lots of other related services.
Franchise bookkeeping Folkestone.
Folkestone Bookkeeper Tasks
Most bookkeepers in Folkestone will be willing to offer you the following accounting and bookkeeping services: bookkeeping and accounting, bookkeeping services for societies in Folkestone, bookkeeping for home-based businesses, bookkeeping services for tradesmen, business bookkeeping Folkestone, accounting and bookkeeping services, partnership tax returns, bookkeeping services for clubs, tax returns, maintaining fixed asset registers, mobile bookkeeping services, QUOTE FORM provided. We will get back to you with information as soon as we are able., PAYE & wages, bookkeeping for startups, bank reconciliation, bookkeeping for pubs Folkestone, Quickbook bookkeeping services in Folkestone, in Folkestone, VAT returns Folkestone, franchise bookkeeping Folkestone, , tax return preparation, Self-Assessment tax returns, general bookkeeping services in Folkestone, corporation tax returns, charity bookkeeping Folkestone, bookkeeping for restaurants, bookkeeping services for limited companies, and more. Listed are just an example of the duties that are conducted by local bookkeepers. Folkestone providers will inform you of their full range of services. If there happen to be different Folkestone bookkeeper requirements that you want but don't see here, you can easily list them on the
Folkestone Bookkeeper Questions
Yesterday I was sifting through the most common questions people in Folkestone ask with regards to bookkeeping. Many of our web visitors have tendered some fascinating enquiries that might be worth mentioning here. The ones I singled out were, How much will a bookkeeper charge? What are the benefits to hiring a bookkeeper? Should I use a bookkeeper or an accountant? When is single-entry bookkeeping used? What does bookkeeping mean? Who would a bookkeeper work with? Are bookkeeping fees tax deductible? How can bookkeeping help your business? Which bookkeeping certification is best in the UK? I hope that most of those queries have been answered in the preceding paragraphs, and if some still need to be addressed a bookkeeping "Q&A" section is the next thing we're going to put in. My appreciation goes out to the following people for taking time out to send in their questions; Cody Chapman, Denis O'Brien, Hadley Mann and Mariah Dickson. It was also great to get queries from Angelina Garner in Saltwood, Brandon Best in Palmarsh and Madeline Whyte in Lyminge.
Bookkeepers Near Folkestone
Also here.: Saltwood bookkeepers, Church Hougham bookkeepers, Sandgate bookkeepers, Etchinghill bookkeepers, Seabrook bookkeepers, Cheriton bookkeepers, Palmarsh bookkeepers, Densole bookkeepers, Stanford bookkeepers, Lyminge bookkeepers, Capel le Ferne bookkeepers, Alkham bookkeepers, Lower Standen bookkeepers, Elham bookkeepers, West Hougham and more. All of these towns and villages are catered for by local bookeepers. Folkestone traders and businesses can get fees for bookkeeping services by going
- Folkestone Tax Preparation
- Folkestone Self-Assessment Returns
- Folkestone Self-Assessment Bookkeeping
- Folkestone Invoice Processing
- Folkestone VAT Returns
- Folkestone Small Business Bookkeeping
- Folkestone Double-Entry Bookkeeping
- Folkestone Profit and Loss Reporting
- Folkestone Credit Control
- Folkestone Cash Flow Analysis
- Folkestone Bookkeeping Services
- Folkestone Wages and PAYE
- Folkestone Cheap Bookkeeping
- Folkestone Payroll Services
Bookkeepers Around Folkestone: People living in the following areas have recently enquired about bookkeeping services - Belinda Court, Augusta Gardens, The Old High Street, Berkeley Close, Broomfield Road, Bathurst Road, Siskin Close, Barnhurst Lane, Beckwith Green, Capel Street, Trinity Road, Shorncliffe Crescent, Sutton Close, Satmore Lane, St Pauls Way, The Orchids, Alder Road, Sunningdale Avenue, Appledore Crescent, Bland Drive, St Stephens Way, Cherry Brook Road, Creteway Close, Charles Crescent, Avereng Gardens, Baldric Road, Church Court, Cambridge Terrace, as well as these Folkestone area postcodes: CT19 4DZ, CT19 4JA, CT18 8AZ, CT18 8AU, CT19 4ET, CT19 4NX, CT18 7AB, CT19 4EX, CT19 4DL, CT18.
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Bookkeepers in CT18 area, telephone code 01303.
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