Bookkeepers Great Wakering Essex (SS3): For anybody in Great Wakering who operates an online store, acts as a sole trader or owns a small business, it is their sole responsibility to keep "true and fair", accurate financial and accounting records for a minimum of 6 years. This is according to the Companies Act (2006). You might face disqualification as a Company Director and get a fine of thousands of pounds, if you cannot produce this information. The trade magazine Accounting Today claims that over 40% of small business owners spend at least 80 hours per year on their accounts, therefore while you can undertake these financial records yourself, it can be more economical to employ a professional accountant or bookkeeping company to do them instead.
If you're filled with panic just thinking about tracking assets and liabilities, creating profit, loss and fiscal reports, writing ledgers or producing balance sheets, then the time to contact a bookkeeper in Great Wakering for assistance has arrived.
BOOKKEEPER OR ACCOUNTANT?
For many small business owners in Great Wakering, an obvious question when facing this challenge is "What is the difference between an accountant and a bookkeeper?" At one time it was typically looked at as to be beneath the qualifications, skill set and experience of an accountant to do the work of a bookkeper, but due to software developments over the past decade or so, many bookkeeping duties will now be undertaken by accounting firms in the Great Wakering area. It's fairly common for many accounting firms to charge a flat rate for bookkeeping services consistent with a dedicated bookkeeper's fee. This is great news for business owners in Great Wakering as it offers a greater variety of competition within this sector and can make the cost of your bookkeeping cheaper than initially thought.
The amount of qualification and training that's needed is the big difference between an accountant and a bookkeeper. An accountant will typically a least hold an accounting degree with additional training in the field of taxation and other fiscal and business management. A bookkeeper in Great Wakering will invariably have a really good understanding of these fiscal skills, but might not have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER IN GREAT WAKERING
Basically, the bookkeeping process is to record the daily financial transactions of any business enterprise in Great Wakering. This can include;
- Billing of clients for work completed or goods.
- Logging of all financial incomings; including card, electronic and cash payments.
- VAT recording and submissions.
- Monthly reports and reconciliation.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- Documenting invoices received and making sure payment is completed by the due date.
- Payroll services.
- Ensuring accounting and double-entry bookkeeping practices are followed.
Whilst it depends on the kind of service you are looking for, if you are able to do the larger part of bookkeeping work yourself, a bookkeeper may only be needed to double check your accounts periodically. At the bare minimum this should be on a monthly basis, to enable the rapid identification and rectification of any problems or mistakes. This can be an extremely cost-effective trade-off, providing that you are confident of keeping on top of your financial transactions without affecting your day by day trading duties.
Whatever the circumstances are with your business or company, if you're seriously considering hiring a bookkeeper in Great Wakering, it's a good bet that you could be getting stressed about the process of financial recording and taxes. Offering guidance and advice on everything from invoicing, preparing expense reports and stocktaking, a good bookkeeping service will also be able to walk you through the process of linking your business accounts with the latest software program to enable the seamless processing of all your business's data.
The ability to reconcile accounts payable with cash flow, is an especially important aspect of good bookkeeping. This means that instead of paying an outstanding bill right away, or waiting on a final notice, which most small businesses in Great Wakering are guilty of, your bookkeeper will organise bill payments to times when your finances are in good order. Together with keeping your business or enterprise on a sound financial footing, this also stands you in good stead with service providers and suppliers. This is a balancing act that you may find tough to accomplish on your own when you are focussed on the smooth running of your company.
Having an individual who isn't associated with the business cast an expert eye over your financial dealings, is another added advantage of using a professional bookkeeper in Great Wakering if you are a sole trader, or for your small business. This dispassionate assessment can enable them to see business patterns and trends that might have otherwise gone unnoticed. A scenario where an intelligent bookkeeper flags up an area which is dropping off in profits, or identifies a new opportunity that may be lucrative, is by no means an unheard of occurrence. For driving the growth of any business enterprise in Great Wakering, it is essential that such KPI's (key performance indicators) are spotted early on.
If you send out invoices as part of your business operations, having to pursue late payments can be really humiliating. By having somebody outside your normal business situation make that telephone call or visit to your client, some of that embarrassment can be removed. If you have a persistent late payer there are legal methods a bookkeeper can employ to help resolve the issue before the situation ends up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some fairly uncomplicated bookkeeping requirements for sole traders, which are set out in law. This involves saving all receipts and invoices concerning the business, and keeping a record of income and expenditure from month to month. Now, this doesn't sound that hard does it? But, it is still a good idea to hire the expertise of a competent bookkeeper to make certain that it's all done accurately. So that you'll be able to claim back bonafide business expenses from HMRC, a professional sole trader bookkeeper in Great Wakering will be able to give you advice on what you should do. This may include advertising expenses, items such as computing equipment, stationery goods, bills and rent if you work from home and consumables. For more detailed advice, chat to your local bookkeeper, and see how they might help your business to grow in the future.
BOOKKEEPING FOR ONLINE TRADERS IN GREAT WAKERING
Some business enterprises that operate in niche areas, may need to employ a specialist bookkeeping service. If you run an online store for example, you will need a bookkeeper in Great Wakering who understands online payments, exchange rate transfers, international and cross-border taxes and multi-currency processing. If the same outlet sells goods that you hold or produce, then regulating your stock on a 24/7 basis is a major priority, as I'm sure you will appreciate the internet does not sleep, therefore nor should your bookkeeping services and software.
A remote virtual office can also be supplied together with bookkeeping services. This enables an online only business or sole trader to have a telephone service and postal address to provide a physical link with their buyers. Although this option might not be provided by all Great Wakering bookkeeping companies, it is definitely worth talking about the possibilities if this is something that could be beneficial.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified Great Wakering bookkeeper doesn't need to have a university degree and a number of qualifications in this field are at Diploma or Certificate level. Bookkeeping qualifications can be obtained via further education colleges and universities but there's also an ever-growing choice of online courses available.
Training and certification for bookkeepers is mainly provided by two organisations:
The Institute of Certified Bookkeepers (ICB): The Institute of Certified Bookkeepers or ICB is the largest on the planet and offers accreditation to certified bookkeepers, together with training and reference material to keep their associated members up-to-date.
The AAT (Association of Accounting Technicians): Entitled to use the letters AATQB, a certified member of the Association of Accounting Technicians (AAT) will have been provided with a training schedule and advanced qualifications in bookkeeping practice. This then allows them to become a registered AAT bookkeeper and assures a high level of service which is backed up by the organisation. If an AAT bookkeeper is found to have contravened the code of practice or has a complaint filed against them, they will be liable to tribunal and disciplinary procedures to protect the values and integrity of the aat membership.
By visiting their respective websites, you're able to examine the qualifications of any professional bookkeeper on the register of ICB or AAT members. Prior to hiring the services of any bookkeeping company in Great Wakering, it is always a good idea to perform such checks.
Bookkeeping services are available in Great Wakering and also in nearby places like: Potton Island, Hockley, Southchurch, Southen-on-Sea, Burnham-on-Crouch, Stambridge, Thorpe Bay, Shoeburyness, Little Wakering, North Shoebury, Canewdon, Rochford, Barling, and in these postcodes SS3 0BB, SS3 0ET, SS3 0EX, SS3 0JD, SS3 0DX, SS3 0DT, SS3 0DJ, SS3 0HL, SS3 0HA, SS3 0PF. Locally based Great Wakering bookkeeper services will likely have the postcode SS3 and the telephone dialling code 01702. Checking this can confirm you access local bookkeepers. Great Wakering sole traders and business owners will be able to utilise these and numerous other comparable services.
Great Wakering Bookkeeper Tasks
Most bookkeepers in Great Wakering will be willing to offer you the following bookkeeping and accounting services: bookkeeping services for freelancers Great Wakering, credit control in Great Wakering, bookkeeping for societies, management accounts, bookkeeping for tradesmen, bookkeeping services for the self-employed, bookkeeping services for pubs in Great Wakering, profit & loss reports, independent bookkeeping services, Sage bookkeeping, bookkeeping for sole traders, PAYE & wages, small business bookkeeping in Great Wakering, management reports, mobile bookkeeping services Great Wakering, Quickbook bookkeeping, company cash books, bookkeeping for payroll, bookkeeping services for clubs, bookkeeping services for restaurants, bookkeeping services for limited companies, landlord bookkeeping Great Wakering, bank reconciliation in Great Wakering, bookkeeping price quotes Great Wakering, franchise bookkeeping Great Wakering, bookkeeping services for small business, tax preparation, personal tax returns Great Wakering, and more. These are just a selection of the duties that are undertaken by local bookkeepers. Great Wakering companies will be happy to inform you of their full range of bookkeeping services. If there are some other Great Wakering bookkeeper requirements that you need but can't see here, you can easily mention them on the QUOTE FORM provided. We will be in touch with details just as soon as we can.
Bookkeepers Near Great Wakering
Also here.: Stambridge bookkeepers, Southen-on-Sea bookkeepers, Shoeburyness bookkeepers, Potton Island bookkeepers, Southchurch bookkeepers, Rochford bookkeepers, Barling bookkeepers, Burnham-on-Crouch bookkeepers, Hockley bookkeepers, North Shoebury bookkeepers, Little Wakering bookkeepers, Canewdon bookkeepers, Thorpe Bay and more. All these places are served by local bookeepers. Great Wakering traders and businesses can get prices for bookkeeping services by clicking
- Great Wakering Self-Assessment Bookkeeping
- Great Wakering Cheap Bookkeeping
- Great Wakering Tax Returns
- Great Wakering Double-Entry Bookkeeping
- Great Wakering VAT Returns
- Great Wakering Credit Control
- Great Wakering Sole Trader Bookkeeping
- Great Wakering Payroll Services
- Great Wakering Bookkeeping Services
- Great Wakering Bookkeeping Quotations
- Great Wakering Wages and PAYE
- Great Wakering Tax Preparation
- Great Wakering Small Business Bookkeeping
- Great Wakering Cash Flow Analysis
Bookkeepers Around Great Wakering: People living in the following areas and streets have recently enquired about bookkeeping services - North Street, Broomways, Poynters Lane, Stuart Close, Little Wakering Hall Lane, Conway Avenue, New Road, New England Crescent, Mason Way, Alexandra Road, White Hall Road, Newstead Road, Orchard Close, Bridge Road, St John's Road, Northfield Crescent, Crouchmans Avenue, Wedds Way, The Anchorage, Victoria Drive, Rebels Lane, Southend Road, Rushley Close, as well as the following local Great Wakering postcodes: SS3 0BB, SS3 0ET, SS3 0EX, SS3 0JD, SS3 0DX, SS3 0DT, SS3 0DJ, SS3 0HL, SS3 0HA, SS3 0PF.
Great Wakering Bookkeeping Jobs: Find bookkeeping jobs in Great Wakering by clicking here: Bookkeeping Jobs Great Wakering
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If you want local information relating to Great Wakering, Essex look here
Bookkeepers in SS3 area, and dialling code 01702.
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