Bookkeepers Godalming Surrey (GU7): You are entirely responsible for keeping "true and fair", accurate financial and accounting records for at least six years, if you run an online store, own a small business or are a sole trader in Godalming, in accordance with the Companies Act. You could face thousands of pounds in fines, and possibly disqualification as a Company Director, if you are unable to produce this information. You can complete these financial records on your own, however when you think about the fact that according to the trade magazine Accounting Today over forty percent of small businesses spend 80 plus hours every year on their accounts, it's often more cost-effective to employ a professional bookkeeper or accountant.
The time has come to contact a bookkeeper in Godalming for guidance, if the idea of preparing profit, loss and financial statements, tracking liabilities and assets, producing balance sheets or filling out ledgers fills you with dread.
BOOKKEEPER OR ACCOUNTANT?
The first question that a lot of people ask is "What is the distinction between a bookkeeper and an accountant?" While in the past a lot of accountants considered the task of bookkeeping to be beneath their qualifications, skill set and experience, many accountancy firms in the Godalming area will now take on most bookkeeping duties, due to improvements in software over the past 10 yrs. For many accountancy companies it is now fairly common to charge a set rate for bookkeeping services, so that they are comparable to the usual charges of a typical bookkeeper in Godalming. This is excellent news for business owners in Godalming as it offers a broader range of competition within the marketplace and can make the cost of your bookkeeping much more affordable than previously imagined.
When looking at the main difference between an accountant and a bookkeeper in Godalming, it's the amount of training that is necessary for each of these disciplines. Typically holding an accounting degree, a professional accountant should also have had additional training in tax matters and have qualifications in financial and business management. While possibly not holding the same financial qualifications, or having this level of training and experience, a bookkeeper in Godalming will certainly have a fair grasp of all these disciplines.
RESPONSIBILITIES OF A BOOKKEEPER
The recording of daily fiscal transactions of any business in Godalming, describes the process of bookkeeping in the simplest of terms. This could include;
- Documenting of all financial incomings; including card, electronic and cash payments.
- Making sure that double-entry bookkeeping and accounting practices are implemented.
- Monthly reconciliations and reporting.
- Logging invoices received and making certain that payment is completed promptly.
- Payroll services.
- Billing of clients for work completed or goods.
- Highlighting and rectifying any discrepancies in financial accounts.
- VAT submissions and recording.
Dependant upon service level you require, a bookkeeper might just be needed to periodically double-check your records, if you are prepared to carry out the bulk of your own bookkeeping work. To make sure that any problems or mistakes can be discovered and amended swiftly, as a bare minimum, this should be done every month. Provided that you are confident of remaining on top of your monetary transactions without negatively affecting your everyday business activities, this trade-off can be the most economical solution.
Whatever the situation is with your business, if you're currently looking to hire a bookkeeper in Godalming, it's a good bet that you may be fretting over the process of recording your financial data. A professional bookkeeping service will be able to help you to link your accounts with the most up-to-date computer software to facilitate the seamless sorting of financial data, and will give guidance and advice on things like preparing expense reports, stocktaking and invoicing.
One of the most vital aspects of good bookkeeping practice, is the ability to successfully reconcile accounts payable with cash flow. This means that your bookkeeper will arrange bill payments to times when your accounts are buoyant, instead of paying a bill right away, or waiting for a final notice, which a lot of small businesses are guilty of doing. This not only keeps your business enterprise on a sound financial footing, but keeps you in good stead with suppliers and those people who provide you with services. This is just one of those balancing acts that can be tough to accomplish when you're focussed on the smooth running of your everyday business activities.
Having somebody who isn't associated with the business cast an impartial eye over your financial dealings, is another added benefit of employing a competent bookkeeper in Godalming if you are a sole trader, or for your small business. It is entirely possible that a nonpartisan appraisal like this will pinpoint business trends and patterns that have previously been missed. A scenario where a keen eyed bookkeeper flags up an area of the business which is plummeting in profits, or spots a new opportunity which could be worthwhile, is by no means an uncommon occurrence. For the success of any enterprise in Godalming, it is vital that these KPI's (key performance indicators) are spotted early.
Having to chase up late payments can be an humiliating scenario for you, if you give out invoices as part of your business operations. If that visit to your customer or phone call is made by an independent person from outside your normal business bubble, it's possible for some of that apprehension to be eliminated. To help deal with the matter, if you are troubled with a consistent late payer, there are legal solutions that can be employed by a professional bookkeeper, so legal proceedings can be avoided.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal requirements for bookkeeping if you're a sole trader, are fairly straightforward and basic. A sole trader is expected to keep a record of income and expenditure from month to month and keep all receipts and invoices. Now, this doesn't seem too difficult does it? However, it is still recommended that you retain the services of a competent bookkeeper to make sure that it is all done correctly. A professional sole trader bookkeeper in Godalming will be happy to advise you on what you can claim back from HMRC as legitimate business expenses. This may include printer ink, stationery, items such as computing equipment, advertising and rent and bills if working from home. For more comprehensive advice, talk to a trusted bookkeeper, and see how they may be able to help your small business to flourish and grow in the future.
ONLINE TRADERS IN GODALMING
Specialistare needed now and again for certain niches in bookkeeping. If exchange rate transfers, cross-border and international taxes, multi-currency processing and online payment procedures are involved, for example if you manage a store online, you'll need to hire a bookkeeper in Godalming who is familiar with these operations. Overseeing inventory on a 24 hours a day basis is also a major priority, if the same outlet distributes goods that you hold or produce, as I'm sure you'll realise the internet does not sleep, therefore neither should your bookkeeping services and software.
A remote virtual office can also be supplied together with bookkeeping services. This is useful in allowing a sole trader or online only business to have a postal address and phone service to provide a physical link with their customer base. It's worth discussing this possibility if it is something that could be of benefit, although not all Godalming bookkeeping companies will supply this service.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the qualifications in the bookkeeping industry are at Certificate or Diploma level, and a professional Godalming bookkeeper doesn't need to have a degree. Although there are a variety of online courses available, bookkeeping qualifications can still be obtained through further education colleges and universities, if that is the preferred route.
To provide training and certification for bookkeepers, there are basically two main organisations of interest:
The Association of Accounting Technicians or AAT: Providing a training schedule with advanced qualifications, the Association of Accounting Technicians or AAT, entitles a fully trained member to use the letters AATQB after their name. This guarantees a certain level of service to their clients which is backed up by the organisation, and enables them to become a authorised AAT bookkeeper. Bookkeepers who are associated with the AAT can can be subject to disciplinary and tribunal procedures if a complaint is filed against them or they are found to have broken the code of conduct. This helps to preserve the integrity and values of the AAT.
The Institute of Certified Bookkeepers (ICB): The Institute of Certified Bookkeepers or ICB is the largest organisation of its kind on the planet and offers accreditation to bookkeepers, along with reference material and training to keep their members current with the latest trends and developments.
The accreditations of any professional bookkeeper can be verified on the register of AAT or ICB members on their websites. Performing this check is widely recommended before you employ any local bookkeeper in Godalming.
Bookkeeping services are available for people living in in Godalming and also in: Hurtmore, Hambledon, Farncombe, Brook, Wormley, Busbridge, Puttenham, Chiddingfold, Charterhouse, Catteshall, Compton, Peper Harlow, Shackleford, Wanborough, Milford, as well as in these postcodes GU7 1LG, GU7 1PA, GU7 1LQ, GU7 1NU, GU7 1NY, GU7 1DX, GU7 1DB, GU7 1AD, GU7 1NN, GU7 1FH. Locally based Godalming Bookkeepers will most likely have the postcode GU7 and the telephone code 01483. Checking this should make certain that you're accessing locally based bookkeepers. Godalming sole traders and business owners will be able to utilise these and lots of other bookkeeping related services.
Bookkeeping Godalming - Outsourcing Options
All businesses in Godalming should understand the significance of bookkeeping. It helps business people monitor the money left in the bank account, their outgoings and incomings, the total value of their assets and liabilities, and so forth. With the owner of the business having to handle the issues and concerns of running a business, the task of doing the bookkeeping is normally outsourced to a bookkeeping company or freelance bookkeepers in Godalming.
If a company in Godalming hires a bookkeeper so as to become an employee, the company will have to pay out a substantial amount of money in training the person for the purpose of doing the bookkeeping duties. Furthermore, there is no guarantee that the individual will stay after the training is finished. In those circumstances, the company will lose a substantial sum of money for very little return. Aside from that, businesses will have to seek out solutions to offer incentives and benefits to keep the trained employee in place. These are just a taste of the reasons behind companies enlisting the services of professional bookkeepers and bookkeeping companies in Godalming.
These professional bookkeeping companies in Godalming should be able to customise their bookkeeping services with that of the client company's existing bookkeeping system. They should be able to ask for assistance from these bookkeepers as and when they need the required back-up and support.
Franchise bookkeeping Godalming.
Godalming Bookkeeper Tasks
Most Godalming bookkeepers will be willing to provide you with the following bookkeeping services: management reports Godalming, Self-Assessment tax returns, bookkeeping for sole traders, bank reconciliation in Godalming, bookkeeping for societies, tax returns, bookkeeping services for retail outlets Godalming, wages & PAYE, bookkeeping and accounting, maintaining fixed asset registers, bookkeeping services for organisations, bookkeeping for restaurants, bookkeeping quotes, bookkeeping for limited companies, franchise bookkeeping Godalming, cash flow analysis, profit & loss reports in Godalming, bookkeeping and accounting services, Xero bookkeeping services, credit control, Kashflow bookkeeping services, Quickbook bookkeeping services, QUOTE FORM provided. We will be in touch with information as soon as we can.in Godalming, bookkeeping for tradesmen, bookkeeping services, bookkeeping services for charities, bookkeeping for home-based businesses Godalming, partnership returns Godalming, and more. Listed are just an example of the duties that are conducted by local bookkeepers. Godalming professionals will be happy to inform you of their full range of services. If there are some other Godalming bookkeeper requirements that you want but can't see here, you can list them on the
Bookkeeping Enquiries Surrey
The latest Surrey bookkeeping enquiries: Montgomery Sanchez in Netherne on the Hill asked the question "are there any decent?". Lisa Ryder was looking for a bookkeeper for her letting agency close to Compton. Bethan Pike was searching for Brockham, Surrey. Julian Grimshaw in Fairlands, Surrey was trying to find bookkeeping for his nightclub. Ayva Garcia in Lyne was hunting for bookkeeping for her fashion company. Thalia Mcfadden from Worplesdon, Surrey was looking for for her coffeehouse. Annie Ali in Merrow was hunting for a bookkeeper for her guitar lesson business. Callum Darlington from Worplesdon, Surrey was looking for a bookkeeper to do his Self-Assessment tax returns. All of these local clients conducted a search for "Bookkeepers Surrey" and came across this page on either Yahoo, Google or Bing.
Bookkeepers Near Godalming
Also here.: Charterhouse bookkeepers, Wormley bookkeepers, Peper Harlow bookkeepers, Milford bookkeepers, Hurtmore bookkeepers, Wanborough bookkeepers, Compton bookkeepers, Puttenham bookkeepers, Busbridge bookkeepers, Chiddingfold bookkeepers, Hambledon bookkeepers, Shackleford bookkeepers, Catteshall bookkeepers, Farncombe bookkeepers, Brook and more. All these towns and villages are covered by local bookeepers. Godalming businesses can get quotes for bookkeeping services by going
- Godalming Sole Trader Bookkeeping
- Godalming Bookkeeping Quotes
- Godalming Profit and Loss Analysis
- Godalming Tax Preparation
- Godalming Double-Entry Bookkeeping
- Godalming Cash Flow Solutions
- Godalming Tax Returns
- Godalming Self-Assessment Bookkeeping
- Godalming Small Business Bookkeeping
- Godalming Payroll Services
- Godalming PAYE Wages and CIS
- Godalming VAT Returns
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- Godalming Accountancy Packages
Bookkeepers Around Godalming: People living in these roads have recently requested bookkeeping services - Summers Road, Town End Street, Coxcombe Lane, Busbridge Lane, Silo Close, Anstead, Seale Road, Badgers Close, Camargue Place, Sellars Hill, St Annes Road, Clairville, Swallow Close, Bridge Road, Brook Mead, Cherry Tree Lane, Borough Road, College Hill, The Bothy, Twycross Road, Tottenham Road, Silver Birches Way, Douglas Drive, Summers Lane, Broad Acres, Cornfields, Station Road, as well as the following Godalming area postcodes: GU7 1LG, GU7 1PA, GU7 1LQ, GU7 1NU, GU7 1NY, GU7 1DX, GU7 1DB, GU7 1AD, GU7 1NN, GU7 1FH.
If you would like to get local info about Godalming, Surrey look here
More Surrey Bookkeepers: More Woking, Guildford, Leatherhead, Walton-on-Thames, Cranleigh, Godalming, Redhill, Staines, Dorking, Farnham, Ash, Windlesham, Epsom, Addlestone, Caterham, Banstead, Esher, Sunbury-on-Thames, Molesey, Reigate, Horley, Ewell, Haslemere, Camberley, Hersham, Weybridge and Chertsey.:
Bookkeepers in GU7 area, 01483.
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