Bookkeepers Godalming Surrey (GU7): If you run an online store, are a sole trader or own a small business in Godalming, you're entirely responsible for maintaining accurate, "true and fair" accounting and financial records for a minimum of 6 yrs in compliance with the 2006 Companies Act. Failing to produce these records could leave you faced with a fine of thousands of pounds and potentially Company Director disqualification. You could perform these financial recordings on your own, but when you consider that according to the magazine Accounting Today over 40% of small businesses spend over 80 hours per year on their bookkeeping, it can be more cost-effective to employ a professional bookkeeper or accountant.
If the very thought of producing balance sheets, preparing profit, loss and financial statements, writing out ledgers or tracking assets and liabilities brings you feelings of terror, then it is time to get in touch with a bookkeeper in Godalming for help and advice.
BOOKKEEPER OR ACCOUNTANT?
Just what is the difference between a bookkeeper and an accountant is the first question that a lot of folks in Godalming ask. The fact is that while at one time the bookkeeping process, was deemed beneath the skill set, qualifications and experience of an accountant, because of software improvements over the past decade or so, many accountancy companies in the Godalming area will now undertake bookkeeping. To make certain their bookkeeping services are consistent with an independent bookkeeper's fee, it is now common practice for accounting companies to have a fixed rate for these services. Business owners in Godalming are now benefiting from this, as it offers a broader range of competition within the marketplace and can make the cost of bookkeeping way more affordable than it would previously have been.
When you're looking at the differences between an accountant and a bookkeeper, the most notable one is the amount of training and qualification that's required for each discipline. At least a degree in accounting with further training in the field of taxation and other fiscal and business management, will normally be held by an accountant. A bookkeeper in Godalming will have a decent understanding of these fiscal disciplines, but might not have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER
To explain in the simplest of forms possible, the bookkeeping process involves the careful recording of day by day transactions (financial) of any business enterprise in Godalming. This can include;
- Payroll services.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Documenting of all financial incomings; card, electronic and cash payments included.
- VAT submissions and recording.
- Monthly reports and reconciliations.
- Making sure that double-entry bookkeeping and accounting practices are observed.
- Recording the receipt of invoices and making certain that payment is completed by the due date.
- The billing of clients for work completed or goods.
Based upon service level you require, a bookkeeper may only be needed to double check your records every so often, if you are happy to undertake the larger part of the bookkeeping work yourself. To enable any mistakes or problems to be identified and corrected quickly, this should really be each month as a bare minimum. This can be the most cost-effective trade-off, providing that you're confident of staying on top of your financial transactions without affecting your daily business operations.
It is fairly likely that if you're looking to hire a bookkeeping company, you are currently stressed with the financial recording side of your small business in Godalming. A decent bookkeeping company will help you out with everything from invoicing, creating expense reports and stocktaking, to linking the latest computer software with your business accounts to seamlessly of all your financial data.
Being able to reconcile accounts payable with cash flow, is an especially crucial element of effective bookkeeping. Which means that your bookkeeper will arrange the payment of bills to a time when your finances are in the best possible position, rather than paying an outstanding bill straight away, or waiting for an overdue notice, which many small businesses are guilty of. This is not just to make certain that your business enterprise is on a good financial footing at all times, but also to keep you in the good books of those businesses who provide your services or materials. When you're mostly focussed on running your business, this is a balancing act that you may find tough to accomplish on your own.
If you are a sole trader, or own a small business, using an experienced bookkeeper in Godalming, also gives them an opportunity to cast an eagle eye over the operation of your business. Business patterns and trends that might have gone unnoticed may be highlighted by this type of dispassionate appraisal. It's not at all uncommon for a clever bookkeeper to flag up an area of the business which is plummeting in profits, or spot an opportunity that could prove lucrative. It's essential for the success and growth of any business enterprise in Godalming, to spot such key performance indicators.
If invoices are sent out by your company it can often be embarrassing having to chase up a late payment. Having a person from outside your business bubble, can take away the apprehension of making that telephone call or visit to your client. A professional bookkeeper can use legal options to handle a repeating late payer, and without having to resort to a claims court proceeding, help to resolve the issue.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you are a sole trader the requirements for bookkeeping, as set out in law, are relatively straightforward. In essence, sole traders must retain all invoices and receipts, and keep track of income and expenditure from month to month. It's still good practice to retain the expertise of a competent bookkeeper, although this may sound simple enough. So that you'll be able to claim back genuine business expenses from HMRC, a professional sole trader bookkeeper in Godalming can advise you on what you have to do. This might include stationery goods, consumables, advertising expenses, rent and bills if working from home and items such as computing equipment. For more in-depth advice, chat to a trusted bookkeeper, and discover how they might help your small business to thrive and grow moving forward.
BOOKKEEPING FOR ONLINE TRADERS
There are niches in bookkeeping where the skills of a specialist might be required. If international and cross-border taxes, exchange rate transfers, online payment procedures and multi-currency processing are involved, for instance if you operate a store online, you'll want to hire a bookkeeper in Godalming who's familiar with these operations. Since the internet does not sleep, if that same store sells goods that you hold or produce then regulating inventory on a 24 hours a day basis is an important concern which will have to be dealt with.
It is also possible to establish a remote virtual office, which can be used together with your bookkeeping service. This enables a sole trader or online only business to provide a physical link with their customers, via a telephone service and postal address. It's definitely worth talking about this possibility if it is needed, although not all Godalming bookkeeping companies will offer this option.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the bookkeeping industry are at Certificate or Diploma level, and a professional Godalming bookkeeper does not need to have a degree. There are an ever-growing choice of courses available online, although bookkeeping qualifications can still be obtained through further education universities and colleges.
There are essentially 2 main organisations that offer certification and training to bookkeepers:
The Institute of Certified Bookkeepers (ICB): Keeping their members current with the latest trends, the Institute of Certified Bookkeepers or ICB is the largest organisation on the planet, providing accreditation to qualified bookkeepers, together with reference material and training.
The AAT (Association of Accounting Technicians): With fully certified members being able to use the letters AATQB after their name, the AAT (Association of Accounting Technicians) provides a training schedule with advanced qualifications. They are then allowed to become approved AAT bookkeepers, which guarantees their clients a certain level of service which is backed by the organisation. To preserve the values and integrity of the AAT, an AAT bookkeeper can be subject to tribunal and disciplinary procedures if it's found that they've violated the code of practice or had a complaint filed against them.
It is possible to check the accreditations of any professional bookkeeper on the register of AAT or ICB members on their respective websites. Carrying out these checks is generally advised before you actually hire any bookkeeper in Godalming.
Bookkeeping services are available for those living in in Godalming and also in: Milford, Shackleford, Farncombe, Wanborough, Hambledon, Busbridge, Hurtmore, Chiddingfold, Compton, Peper Harlow, Puttenham, Witley, Charterhouse, Catteshall, Brook, Wormley, as well as in these postcodes GU7 1PX, GU7 1PN, GU7 1EX, GU7 1LS, GU7 1NU, GU7 1NT, GU7 1GX, GU7 1AL, GU7 1HB, GU7 1DD. Locally based Godalming bookkeeper services will likely have the telephone dialling code 01483 and the postcode GU7. Checking this can guarantee that you're accessing local bookkeepers. Godalming sole traders and business owners can benefit from these and various other bookkeeping related services.
Godalming Bookkeeper Tasks
Most bookkeepers in Godalming will be prepared to provide you with the following accounting and bookkeeping services: professional bookkeeping services, landlord bookkeeping Godalming, independent bookkeeping services, bookkeeping rates, bookkeeping services for the self-employed, small business bookkeeping, Sage bookkeeping services in Godalming, bookkeeping services for sole traders, Self-Assessment tax returns, bookkeeping for freelancers in Godalming, letting agent bookkeeping Godalming, double-entry bookkeeping, general bookkeeping services, VAT returns, tax preparation, bookkeeping for pubs, bookkeeping services, tax returns in Godalming, payment services, company cash books, profit & loss reports, charity bookkeeping Godalming, personal tax returns Godalming, bookkeeping services for restaurants Godalming, management accounts Godalming, bookkeeping for charities, credit control, management reports, cash flow analysis in Godalming, mobile bookkeeping services, and more. Listed are just a few of the duties that are handled by local bookkeepers. Godalming companies will let you know their full range of services. If there are additional Godalming bookkeeper requirements that you want but cannot see here, you can easily mention them on the QUOTE FORM provided. We'll be in touch with information just as soon as we are able.
Godalming Bookkeeper Questions
Last Monday I thought it would be interesting to look at the typical questions that people ask about bookkeeping in Godalming. A couple of you have put forward noteworthy enquiries that may be worth a mention here. The ones I picked out were, Does bookkeeping require a degree? When should I hire a bookkeeper? What are the advantages of an accountant over a bookkeeper? Who would a bookkeeper work with? How can I get bookkeeper in Godalming? Should I use a bookkeeper or an accountant? What do bookkeeping services include? How much does a bookkeeper charge per hour? Who needs bookkeeping services? The majority of these enquiries hopefully have been answered on this page, and if some still need to be addressed a bookkeeping "Q&A" section will be included shortly. A huge thank you goes to Brody Martin, Ewan Oliver, Cayden Mackenzie and Mya Wade from Godalming, for submitting these questions. Contributions were also submitted by Violet Lees in Hambledon, Jesse Marriott in Compton and Elena Latham in Wormley.
Bookkeepers Near Godalming
Also here.: Puttenham bookkeepers, Chiddingfold bookkeepers, Hambledon bookkeepers, Shackleford bookkeepers, Hurtmore bookkeepers, Charterhouse bookkeepers, Wanborough bookkeepers, Farncombe bookkeepers, Compton bookkeepers, Busbridge bookkeepers, Brook bookkeepers, Catteshall bookkeepers, Milford bookkeepers, Peper Harlow bookkeepers, Witley bookkeepers, Wormley and more. Most of these towns and villages are covered by local bookeepers. Godalming businesses and traders can get fees for bookkeeping services by clicking
- Godalming Cheap Bookkeeping
- Godalming Profit and Loss Analysis
- Godalming VAT Returns
- Godalming Accountancy Packages
- Godalming Sole Trader Bookkeeping
- Godalming Cash Flow Analysis
- Godalming Bookkeeping Estimates
- Godalming Payroll Services
- Godalming Wages PAYE and CIS
- Godalming Small Business Bookkeeping
- Godalming Tax Preparation
- Godalming Self-Assessment Bookkeeping
- Godalming Credit Control
- Godalming Tax Returns
Bookkeepers Around Godalming: People who live in the following areas and streets have just recently enquired about bookkeeping services - Combe Road, Cow Lane, Binhams Meadow, Stonepit Close, Coppice Place, St Annes Road, The Paddock, Spring Grove, Chapel Flats, Burford Lea, The Lane, Springfield Way, Busdens Close, Sandy Lane, Tuesley Lane, The Lawns, Appletree Close, St Marys Mill, Bridge Street, Crofts Close, Tuesley Corner, Camargue Place, Briar Patch, Douglas Drive, Butts Lane, Badgers Close, Amberley Lane, South Street, The Cricket Green, Chapel Fields, as well as these Godalming area postcodes: GU7 1PX, GU7 1PN, GU7 1EX, GU7 1LS, GU7 1NU, GU7 1NT, GU7 1GX, GU7 1AL, GU7 1HB, GU7 1DD.
More Godalming Services: Obviously, when you happen to be in need of a bookkeeper in Godalming, Surrey, you'll likely be in need of all kinds of different services and together with card processing in Godalming, an accountant in Godalming, telemarketing in Godalming, Ecommerce assistance in Godalming, telephone system services in Godalming, social media marketing in Godalming, web design in Godalming, financial advice in Godalming, EPOS in Godalming, pay per click advertising in Godalming, network, database & IT support in Godalming, a marketing agency in Godalming, promotional video production in Godalming, business consulting in Godalming, hosting & cloud services in Godalming, HR consulting in Godalming, digital marketing services in Godalming, and other different Godalming specialists.in Godalming, Surrey, you might also need
More Surrey Bookkeepers: More Guildford, Epsom, Banstead, Ewell, Walton-on-Thames, Reigate, Camberley, Redhill, Hersham, Weybridge, Windlesham, Ash, Cranleigh, Caterham, Farnham, Horley, Godalming, Sunbury-on-Thames, Dorking, Molesey, Staines, Leatherhead, Esher, Haslemere, Chertsey, Addlestone and Woking.:
For the latest local Godalming info look here
Bookkeepers in GU7 area, and dialling code 01483.
Self-Assessment Tax Returns Godalming - Small Business Bookkeepers Godalming - Bookkeeping Quotations Godalming - Double-Entry Bookkeeping Godalming - Sole Trader Bookkeepers Godalming - Bookkeepers Godalming - Bookkeeper Godalming - Sole Trader Bookkeeping Godalming - Bookkeeping Godalming