Bookkeepers Great Dunmow Essex (CM6): As stated by the Companies Act (2006), if you are a sole trader, run a small business or operate an online store in Great Dunmow, you're responsible for keeping accurate, "true and fair" financial and accounting records for a minimum of 6 years. Failing to produce such records could leave you facing a fine of thousands of pounds and possible disqualification as a Company Director. There is a considerable time investment involved with keeping such financial records yourself, and it's often more cost-effective to employ a professional bookkeeping company or accountant, because according to the trade magazine Accounting Today over forty percent of small businesses spend over 80 hours annually doing their bookkeeping.
The time has come to contact a bookkeeper in Great Dunmow for help and advice, if you're overcome with a sense of panic simply thinking about producing balance sheets, preparing profit, loss and fiscal reports, tracking liabilities and assets or writing out ledgers.
BOOKKEEPER OR ACCOUNTANT?
What is the distinction between a bookkeeper and an accountant is the first question that springs to mind for most business owners in Great Dunmow. In truth, because of improvements in software over the past decade many accountancy companies in the Great Dunmow area will undertake the task of bookkeeping, which was previously looked at as beneath their experience, qualifications and skill set. To ensure their bookkeeping services are consistent with an independent bookkeeper's fee, it is now fairly common for many accounting firms to charge a set fee for these services. Since it gives a greater variety of competition within the industry, this is excellent news for small businesses in Great Dunmow, making the cost of their bookkeeping much more affordable than it was previously.
It is basically the amount of training that is necessary for each of these disciplines, that illustrates the big difference between a bookkeeper and an accountant in Great Dunmow. An accountant will typically hold at least an accounting degree with specialist training in the field of taxes and other financial and business management. A bookkeeper in Great Dunmow will definitely have a good grasp of these fiscal procedures, but may not necessarily hold the qualifications or levels of experience and training.
RESPONSIBILITIES OF A BOOKKEEPER
The process of bookkeeping in simple terms, is the recording of the daily monetary transactions of any business in Great Dunmow. This can include;
- Recording of all financial incomings; including electronic, cash and card payments.
- Billing of clients for goods or work completed.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Making sure that accounting and double-entry bookkeeping practices are followed at all times.
- Monthly reconciliations and reports.
- Recording invoices received and making sure payment is completed promptly.
- VAT recording and submissions.
- Payroll services.
If you're happy to do the larger part of your bookkeeping work yourself; a bookkeeper may just be necessary for double-checking your records every once in a while. As a bare minimum this should be done on a monthly basis, to enable the quick detection and correcting of any problems or mistakes. This could be the most cost-effective trade-off, provided that it is possible to stay in control of your financial transactions without compromising your day by day trading activities.
Whatever the situation is with your business or company, if you're currently looking at hiring a bookkeeping service in Great Dunmow, it is fairly likely that you might be having problems with the process of financial records and tax returns. Offering advice and guidance on everything from preparing expense reports, invoicing and stocktaking, a decent bookkeeping service will also be able to guide you through the process of linking your accounts with the most up-to-date software application to enable the seamless processing of all your business's data.
One of the most crucial elements of good bookkeeping, is the ability to efficiently reconcile cash flow with accounts payable. Which means that by scheduling bill payments to a time when your accounts are in the best possible position, your bookkeeper will avoid the mistake that many small businesses in Great Dunmow are guilty of doing i.e. paying an outstanding bill immediately, or waiting for an overdue notice. This does not just keep you in favour with suppliers and the businesses who supply you with services, but also ensures that your business is financially stable. When, as an individual, you are completely focussed on the operation of your business, this can be a balancing act that's tricky to perform.
For your small business, or if you are a sole trader, employing a certified bookkeeper in Great Dunmow, gives you an opportunity to have an unbiased eye cast over your business affairs. It is entirely possible that an impartial assessment like this will showcase business patterns and trends that have been missed previously. A bookkeeper recognising an opportunity or flagging up an area where profits are falling, is by no means uncommon. These KPI's (key performance indicators) are important in driving growth for any small business in Great Dunmow.
It can sometimes be quite humiliating to chase up a late payment if your business sends out invoices. Some of that awkwardness can be removed by having an independent person outside your normal business bubble make that phone call or visit to your client. To help deal with the issue, if you have a consistent late payer, there are methods that can be used by a professional bookkeeper, so that court proceedings can be averted.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
As a sole trader the requirements for bookkeeping, as set out in law, start off comparatively straightforward. Essentially, sole traders must keep all invoices and receipts, and track income and expenditure from month to month. While this might at first sound simple it is still recommended that you hire the expertise of a bookkeeping company. A specialised sole trader bookkeeper in Great Dunmow will be able to advise you on what you're able to claim back from HMRC as business expenses. This may include consumables, stationery, items such as computers, advertising and bills and rent if you work from home. If you would like to get more comprehensive advice, and see how your small business can grow and develop in the future, chat to a trusted bookkeeper.
Certain small businesses that work in niche areas, might need to use a specialist bookkeeping service. If you run an online store for instance, you will require a bookkeeper in Great Dunmow who understands cross-border and international taxes, online payment procedures, multi-currency processing and exchange rate transfers. If you hold or produce the goods that you distribute through that outlet, then it is going to be a huge priority for your bookkeeping services and software to deal with your stock on a 24/7 basis, because the internet does not sleep.
In combination with bookkeeping services, it's also possible to provide a virtual office. This allows an online only business or sole trader to offer a physical link with their customers, via a postal address and phone service. Not all Great Dunmow bookkeepers will be willing to supply this solution, but it is worth discussing the possibilities if it's something that could benefit you.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the field of bookkeeping are at Certificate and Diploma level, and a professional Great Dunmow bookkeeper does not need to have a degree. Although there is a number of bookkeeping courses available online, qualifications can still be obtained through further education colleges and universities, if that is the preferred route.
There are two main certification and training organisations which represent bookkeepers:
The Institute of Certified Bookkeepers (ICB): Keeping their members current with the latest trends and innovations, the Institute of Certified Bookkeepers or ICB is the largest bookkeeping organisation on the planet, providing accreditation to qualified bookkeepers, along with training and reference material.
The Association of Accounting Technicians (AAT): The Association of Accounting Technicians or AAT provides advanced qualifications and a training schedule enabling fully trained bookkeepers to use the letters AATQB. They are then able to become licensed AAT bookkeepers, which guarantees their customers a level of service which is backed by the organisation. AAT bookkeepers can can be subject to tribunal and disciplinary procedures if a complaint is made against them or they are found to have violated the code of conduct. This helps to safeguard the credibility of AAT membership.
You're able to check the qualifications of any bookkeeper on the register of AAT or ICB members on their websites. Prior to employing the services of any bookkeeping company in Great Dunmow, it is always a good idea to carry out such checks.
Bookkeeping services are available in Great Dunmow and also nearby in: Barnston, Black Notley, Duckend Green, Little Dunmow, Stebbing, Felstead, Dunmow, Churchend, Takeley, Great Waltham, Little Canfield, Little Easton, Bambers Green, Great Easton, together with these postcodes CM6 1ZU, CM6 1AX, CM6 1HQ, CM6 1TP, CM6 1BP, CM6 2JA, CM6 1UR, CM6 1XH, CM6 1GQ, CM6 1SH. Locally based Great Dunmow bookkeeper services will most likely have the postcode CM6 and the telephone dialling code 01371. Checking this can make sure that you access local bookkeepers. Great Dunmow sole traders and business owners will be able to utilise these and lots of other related services.
Franchise bookkeeping Great Dunmow.
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Great Dunmow Bookkeeper Tasks
Most Great Dunmow bookkeepers will be willing to offer you the following bookkeeping services: charity bookkeeping Great Dunmow, franchise bookkeeping Great Dunmow, bookkeeping and accounting services in Great Dunmow, wages & PAYE, Kashflow bookkeeping services, bookkeeping for restaurants, bank reconciliations, payment services, profit & loss reports in Great Dunmow, Xero bookkeeping services, bookkeeping for startups, tax returns in Great Dunmow, business bookkeeping, bookkeeping for limited companies, maintaining fixed asset registers, bookkeeping for pubs, VAT returns, QUOTE FORM provided. We'll be in touch with information just as soon as we are able.in Great Dunmow, bookkeeping for clubs, bookkeeping price quotes, letting agent bookkeeping Great Dunmow, corporation tax returns, independent bookkeeping services, credit control, professional bookkeeping services, bookkeeping services for the self-employed, invoice processing, bookkeeping services for charities in Great Dunmow, and more. These are just an example of the duties that are performed by local bookkeepers. Great Dunmow providers will be happy to tell you about their whole range of bookkeeping services. If there are different Great Dunmow bookkeeper requirements that you want but can't see here, you can mention them on the
Bookkeepers Near Great Dunmow
Also here.: Great Easton bookkeepers, Barnston bookkeepers, Little Easton bookkeepers, Black Notley bookkeepers, Duckend Green bookkeepers, Felstead bookkeepers, Stebbing bookkeepers, Dunmow bookkeepers, Little Dunmow bookkeepers, Bambers Green bookkeepers, Takeley bookkeepers, Little Canfield bookkeepers, Great Waltham bookkeepers, Churchend and more. All of these places are serviced by local bookeepers. Great Dunmow residents can get fees for bookkeeping services by clicking
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Bookkeepers Around Great Dunmow: People living in these Great Dunmow roads and streets have recently requested bookkeeping services - Barley Lane, Gallows Green, Brick Kiln Drive, The Mead, Station Road, Station Yard Industrial Park, St. Edmunds Croft, Bigods Lane, Woodview Road, Charters, Braintree Road, Brignall Place, Crayfields, Banks Court, Barberry Path, Buttleys Lane, Highfields, Weavers Close, The Avenue, Pondfield, North Street, Station Road, Sunbank, Coppice Close, Nursery Rise, Birch Road, The Downs, Pharisee Green, Laburnum Road, Downs Crescent, as well as the following Great Dunmow area postcodes: CM6 1ZU, CM6 1AX, CM6 1HQ, CM6 1TP, CM6 1BP, CM6 2JA, CM6 1UR, CM6 1XH, CM6 1GQ, CM6 1SH.
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Great Dunmow Bookkeeping Jobs: See bookkeeping jobs near Great Dunmow by going here: Great Dunmow Bookkeeping Jobs
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Bookkeepers in CM6 area, (dialling code 01371).
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