Bookkeepers Great Dunmow Essex (CM6): As stated by the 2006 Companies Act, if you run a small business, are a sole trader or operate an online store in Great Dunmow, you are entirely responsible for maintaining "true and fair", accurate accounting and financial records for at least six years. You might face thousands of pounds in fines, and perhaps Company Director disqualification, if you're unable to produce such information. You could carry out these financial records yourself, yet when you consider that according to Accounting Today magazine over forty percent of small business owners spend 80 plus hours annually doing their bookkeeping, it can pay to employ a professional accountant or bookkeeping service.
If you are filled with dread simply thinking about the possiblility of producing balance sheets, preparing profit, loss and financial statements, filling out ledgers or tracking assets and liabilities, then the time to get in touch with a bookkeeper in Great Dunmow for guidance and advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
What is the difference between an accountant and a bookkeeper is the first question that springs to mind for most people in Great Dunmow. In the old days it was generally deemed to be beneath the skill set, qualifications and experience of an accountant to do bookkeeping, but due to massive software improvements over the past decade or so, many bookkeeping duties will now be taken on by accountancy companies in Great Dunmow. Many accountancy firms now charge a flat rate for bookkeeping services, to keep them in line with what a dedicated bookkeeper in Great Dunmow would usually charge. This makes the cost of bookkeeping much more affordable than it previously was, and is good news for small businesses in Great Dunmow since it provides a broader range of competition within the industry.
The amount of training required is the main difference between a bookkeeper and an accountant. At least an accounting degree with additional training in the field of taxes and other financial and business management, will usually be held by an accountant. Whilst having a good grasp of these fiscal procedures, a bookkeeper in Great Dunmow may not have these qualifications or levels of experience and training.
RESPONSIBILITIES OF A BOOKKEEPER
To explain in the simplest of forms possible, bookkeeping involves the logging of day by day transactions (financial) of any business or enterprise in Great Dunmow. This will include, but is not limited to;
- VAT submissions and recording.
- Billing of clients for goods or work completed.
- Documenting of all financial incomings; cash, card and electronic payments included.
- Ensuring double-entry bookkeeping and accounting practices are followed.
- Logging invoices received and making sure that payment is completed promptly.
- Payroll services.
- Monthly reconciliation and reports.
- Highlighting any discrepancies in the financial accounts and rectifying them.
Dependant upon service level you require, a professional bookkeeper may only be needed to double check your accounts periodically, if you're in a position to do the larger part of the bookkeeping work yourself. To enable any problems or mistakes to be identified and amended swiftly, this ought to be monthly at the bare minimum. If you're confident of staying up-to-date with your day by day trading and financial transactions, this trade-off can sometimes be the most cost-effective compromise.
Whatever your situation, if you are seriously looking to hire a bookkeeper in Great Dunmow, there is a fair chance that you may be fretting over the financial recording aspects of your small business. A good bookkeeping company will be able to help you to link your accounts with the most up-to-date computer software to facilitate the seamless pull-through of transactional data, and will give guidance and advice on things like invoicing, stocktaking and preparing expense reports.
One of the most important elements of good bookkeeping, is being able to effectively reconcile accounts payable with cash flow. Which means that instead of waiting on a final notice, which many small businesses in Great Dunmow are guilty of, or paying off a bill right away, your bookkeeper will prioritise the payment of bills to a time when your accounts are in good order. This does not just keep you in the good books of suppliers and those businesses who supply services to you, but also makes sure that your business or enterprise is on a secure financial footing. When you are primarily focussed on the operation of your business, this is a juggling act that can be tough to accomplish on your own.
For your small business, or if you're a sole trader, employing a certified bookkeeper in Great Dunmow, gives you the opportunity to have an expert eye cast over your business. It's entirely possible that an independent appraisal such as this will pinpoint business trends and patterns that you haven't previously noticed. It isn't uncommon for a bookkeeper to recognise a new opportunity or flag up an area where profits are plummeting. It is important for the success of any enterprise in Great Dunmow, to spot such key performance indicators (KPI's).
It can often be rather humiliating to pursue late payments if your company sends out invoices. Having an individual from outside your business situation, can take the embarrassment out of visiting your customer or making that phone call. To help deal with the issue, if you have a persistent late payer, there are legal options that can be made use of by a professional bookkeeper, so that court proceedings can be averted.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you are a sole trader the requirements for bookkeeping, as laid out by law, are relatively straightforward. A sole trader is required to monitor expenditure and income on a monthly basis and keep all invoices and receipts. Although this might initially sound quite simple, hiring the services of a bookkeeper is still a good idea. When preparing your Self-Assessment tax returns, a professional sole trader bookkeeper in Great Dunmow will be happy to advise you on what your legitimate business expenses are, and make certain these are claimed back from HMRC each year. This may include rent and bills if working from home, stationery goods, consumables, advertising and items such as computers. For more in-depth advice, talk to your local bookkeeper, and discover how they can help your small business to thrive and grow going forward.
BOOKKEEPING FOR ONLINE TRADERS IN GREAT DUNMOW
There are niches in bookkeeping where the skills of a specialist might be required. For example, if you run an online store, you'll be wise to employ a bookkeeper in Great Dunmow who is familiar with multi-currency processing, online payments, exchange rate transfers and cross-border and international taxes. Controlling stock on a 24/7 basis is also a massive concern, if that same store sells goods that you produce or hold, as I'm sure you will realise the internet doesn't sleep, therefore nor should your bookkeeping software or services.
In conjunction with bookkeeping service, a remote virtual office can also be supplied. This is useful in allowing an online only business or sole trader to have a postal address and telephone service to provide a physical connection to their customer base. If this sort of service could be helpful, it's certainly worth discussing the possibilities, although this solution won't be supplied by all Great Dunmow bookkeeping companies.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A number of the bookkeeping qualifications are at Certificate and Diploma level, and it isn't mandatory for a certified bookkeeper in Great Dunmow to hold an accounting degree. If the chosen route to qualification is via further education colleges and universities, this alternative is still available, whereas there there's an ever-increasing variety of bookkeeping courses available online.
Certification and training for bookkeepers is mostly provided by two key organisations:
The ICB or Institute of Certified Bookkeepers: Providing certification for qualified bookkeepers, together with reference material and training to ensure their members are informed about the latest trends and innovations, the ICB or Institute of Certified Bookkeepers is the largest organisation of its kind in the world.
The AAT (Association of Accounting Technicians): With certified members entitled to use the letters AATQB, the Association of Accounting Technicians or AAT provides a training schedule with advanced qualifications. They can then become certified AAT bookkeepers, approved by this organisation, which promises a minimum standard of service for their clients. To safeguard the trustworthiness of the AAT, if a bookkeeper who is affiliated with the AAT has a complaint against them or is found to have breached the code of practice they may be subject to tribunal and disciplinary procedures.
By going to their respective websites, it's possible to check out the register of AAT or ICB members, to confirm the accreditations of any Great Dunmow bookkeeper. Prior to employing any bookkeeping service in Great Dunmow, it's definitely a good idea to complete these necessary checks.
Bookkeeping services are available for people living in in Great Dunmow and also nearby in: Bambers Green, Felstead, Little Canfield, Duckend Green, Great Notley, Churchend, Great Waltham, Great Easton, Stebbing, Barnston, Takeley, Little Easton, Black Notley, Little Dunmow, Dunmow, and in these postcodes CM6 1HY, CM6 1WP, CM6 1XS, CM6 1BD, CM6 1AL, CM6 1AS, CM6 3WD, CM6 1BQ, CM6 1TZ, CM6 1US. Locally based Great Dunmow Bookkeepers will likely have the postcode CM6 and the phone code 01371. Checking this can make certain that you are accessing local bookkeepers. Great Dunmow sole traders and business owners are able to utilise these and countless other similar services.
Great Dunmow Bookkeeper Tasks
Most Great Dunmow bookkeepers will be willing to provide you with the following accounting and bookkeeping services: tax return preparation, bookkeeping services for charities, management accounts, Kashflow bookkeeping in Great Dunmow, bookkeeping services for self-employed Great Dunmow, PAYE & wages, company cash books in Great Dunmow, bookkeeping prices Great Dunmow, bookkeeping services for limited companies, invoice processing Great Dunmow, bookkeeping services, business bookkeeping, bookkeeping for payroll in Great Dunmow, bookkeeping for shops, bookkeeping services for restaurants in Great Dunmow, personal tax returns Great Dunmow, bookkeeping services for freelancers, professional bookkeeping services, independent bookkeeping services, management reports, payment services, Self-Assessment tax returns Great Dunmow, cheap bookkeeping services in Great Dunmow, cash flow analysis Great Dunmow, bookkeeping for sole traders, profit & loss reports, bookkeeping services for retail outlets, bookkeeping services for organisations in Great Dunmow, and more. These are just an example of the activities that are handled by local bookkeepers. Great Dunmow companies will inform you of their full range of services. If there happen to be different Great Dunmow bookkeeper requirements that you need but can't see here, you can easily list them on the QUOTE FORM provided. We'll get back to you with information just as soon as we are able.
Bookkeepers Near Great Dunmow
Also here.: Black Notley bookkeepers, Barnston bookkeepers, Churchend bookkeepers, Great Easton bookkeepers, Great Waltham bookkeepers, Great Notley bookkeepers, Takeley bookkeepers, Little Dunmow bookkeepers, Duckend Green bookkeepers, Little Easton bookkeepers, Felstead bookkeepers, Dunmow bookkeepers, Stebbing bookkeepers, Little Canfield bookkeepers, Bambers Green and more. Most of these areas are served by local bookeepers. Great Dunmow businesses and traders can get fees for bookkeeping services by going
- Great Dunmow Double-Entry Bookkeeping
- Great Dunmow Tax Returns
- Great Dunmow Cash Flow Analysis
- Great Dunmow PAYE Wages and CIS
- Great Dunmow Tax Preparation
- Great Dunmow Sole Trader Bookkeeping
- Great Dunmow Bookkeeping Quotations
- Great Dunmow Self-Assessment Bookkeeping
- Great Dunmow Bookkeeping Services
- Great Dunmow Cheap Bookkeeping
- Great Dunmow Payroll Services
- Great Dunmow Credit Control
- Great Dunmow VAT Returns
- Great Dunmow Profit and Loss Reports
Bookkeepers Around Great Dunmow: People living in these nearby Great Dunmow streets have recently enquired about bookkeeping services - Cypress Court, Downs Crescent, Godfrey Way, Laurel Drive, Hawthorn Way, Standrums, Lukins Drive, Star Lane, Homelye Lane, Chelmsford Road, Hoblongs Industrial Estate, Crescent Close, Venmore Drive, Berbice Lane, Elmscroft, Chestnut View, St. Edmunds Croft, Station Road, Sunbank, Elm Road, Larch Way, Cherry Crescent, Lewis Court, Church End Villas, Clapton Hall Lane, Blake House, Old Mill Close, Aythorpe Roding, as well as these Great Dunmow area postcodes: CM6 1HY, CM6 1WP, CM6 1XS, CM6 1BD, CM6 1AL, CM6 1AS, CM6 3WD, CM6 1BQ, CM6 1TZ, CM6 1US.
For local info relating to Great Dunmow, Essex click here
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Bookkeeping Jobs Great Dunmow: Get bookkeeping jobs in Great Dunmow by clicking here: Great Dunmow Bookkeeping Jobs
Bookkeepers in CM6 area, (dialling code 01371).
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