Bookkeepers Guildford Surrey (GU1): For any individual in Guildford who acts as a sole trader, owns a small business or operates an online store, it's their sole responsibility to keep "true and fair", accurate financial and accounting records for at least 6 years. This is according to the 2006 Companies Act. You may face a fine of thousands of pounds, and perhaps Company Director disqualification, if you cannot produce such records. It can pay to employ a professional bookkeeper or accountant to undertake this for you, because according to the magazine Accounting Today over forty percent of small businesses spend eighty hours plus annually on their bookkeeping duties, which is a large investment of time, and could be more effectively spent on your main business activities.
It's high time to contact a bookkeeper in Guildford for advice, if the very thought of preparing profit, loss and fiscal reports, tracking liabilities and assets, compiling balance sheets or writing out ledgers fills you with a sense of panic.
BOOKKEEPER OR ACCOUNTANT?
"Precisely what is the difference between a bookkeeper and an accountant?" Is a question that's asked by many business owners in Guildford. While in past times many accountants considered the task of bookkeeping to be beneath their experience, skill-sets and qualifications, a lot of accountancy companies in Guildford will now undertake bookkeeping, because of software developments over the past ten years or so. For many accountancy firms it is now common practice to charge a flat rate for bookkeeping services, to keep them in line with the standard fees of a dedicated bookkeeper in Guildford. Because it offers a wider range of competition within the marketplace, this is fantastic news for small businesses in Guildford, making their bookkeeping costs cheaper than they previously were.
It is basically the standard of training that is necessary for each discipline, that illustrates the biggest difference between an accountant and a bookkeeper in Guildford. Normally holding a degree in accounting, a professional accountant will also have had training in tax essentials and further qualifications in business and fiscal management. Although possibly not having this level of training and experience, or holding the same financial qualifications, a bookkeeper in Guildford will definitely have a fair grasp of all these procedures.
RESPONSIBILITIES OF A BOOKKEEPER
Essentially, the bookkeeping process is the recording of the day to day transactions of any business or enterprise in Guildford. This is likely to include, but is by no means limited to;
- Recording invoices received and ensuring that payment is completed on time.
- Recording of all financial incomings; card, electronic and cash payments included.
- Payroll services.
- Highlighting and rectifying any discrepancies in financial accounts.
- Ensuring accounting and double-entry bookkeeping practices are followed.
- Billing of clients for work completed or goods.
- Monthly reconciliation and reports.
- VAT recording and submissions.
Contingent upon the level of service you need, e.g. you are prepared to do most of bookkeeping work; a professional bookkeeper may just be needed to double check your figures on a fixed schedule. At the bare minimum this really needs to be done every month, to enable the swift identification and rectifying of any problems or mistakes. Provided that you're able to stay in control of your financial transactions without having a negative impact on your day to day trading duties, this option can be an extremely economical trade-off.
Whatever the scenario is with your company or small business, if you are currently looking to hire a bookkeeper in Guildford, it is fairly likely that you may be stressed with the process of recording your financial data. A good bookkeeping service will help you out with everything from stocktaking, invoicing and preparing expense reports, to linking the latest software application with your accounts to seamlessly of your transaction data.
The correct reconciliation of accounts payable with cash flow is one of the most important aspects of good bookkeeping practice. This means that rather than waiting on a final notice, which many small businesses are guilty of, or paying off a bill immediately, your bookkeeper will schedule bill payments to a time when your finances are in good shape. This does not just keep you in the good books of suppliers and those businesses who supply you with services, but also ensures your enterprise or business is on a good financial footing. When, as an individual, you are inevitably focussed on the operation of your day to day business activities, this is a juggling act that can be tricky to accomplish.
Having somebody who isn't affiliated with the business cast an independent eye over your financial transactions, is another advantage of employing a professional bookkeeper in Guildford for your small business or if you are a sole trader. Business patterns and trends that you might have disregarded might be highlighted by this type of unprejudiced appraisal. It is by no means unheard of for a keen eyed bookkeeper to flag an area where profits are dropping, or spot a new opportunity which may prove worthwhile. Spotting these key performance indicators is crucial for driving the growth of any business in Guildford.
Having to chase up late payments can be a fairly awkward situation for you, if you send out invoices as part of your business operations. Some of that apprehension can be taken away by having an independent person outside your business situation visit your customers or make that phone call. A bookkeeper can employ legal techniques to deal with a consistent late or non-payer, and without the need for court proceedings, help to resolve the matter.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some reasonably basic sole trader bookkeeping requirements, that are set out in law. This involves retaining all receipts and invoices concerning the business, and keeping track of income and expenditure from month to month. It is still recommended that you hire the services of a competent bookkeeper, even if this may at first sound simple. Offering advice on what valid business expenses you might be able to claim back, a dedicated sole trader bookkeeper in Guildford will look after your financial dealings with HMRC. This might include consumables, rent and bills if you work from home, stationery, advertising and items such as laptops. If you would like to get more comprehensive advice, and discover how your business can grow in the future, chat to your bookkeeper.
ONLINE TRADERS IN GUILDFORD
Specialisedare often needed for certain niches in bookkeeping. You'll require a bookkeeper in Guildford who's familiar with multi-currency processing, cross-border and international taxes, online payments and exchange rate transfers, if you run an online store for example. As the internet does not sleep, if that same shop sells goods you produce or hold then regulating inventory on a 24/7 basis is a vital priority which will need to be addressed.
It's also possible to provide a remote virtual office, which can be used together with your bookkeeping service and package. This can be useful in allowing an online only business or sole trader to have a postal address and telephone service to offer a physical connection to their customer base. Although this option may not be supplied by all Guildford bookkeeping businesses, it's certainly worth a discussion if this service is something which is needed.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the bookkeeping sector are at Certificate and Diploma level, and a certified bookkeeper in Guildford need not have a degree. If the preferred route to qualification is through further education universities and colleges, this possibility is still available, whereas there there's an ever-growing number of online bookkeeping courses.
There are 2 key training and certification organisations which represent bookkeepers:
The AAT (Association of Accounting Technicians): With fully certified bookkeepers entitled to use the letters AATQB after their name, the AAT or Association of Accounting Technicians provides advanced qualifications and a training schedule. This then permits them to become a authorised AAT bookkeeper and promises a level of service which is backed up by the organisation. Bookkeepers who are associated with the AAT can can be subject to disciplinary and tribunal procedures if a complaint is made against them or they are found to have broken the code of practice. This helps to preserve the integrity and values of AAT membership.
The Institute of Certified Bookkeepers or ICB: Keeping their members up-to-date with the latest trends, the ICB or Institute of Certified Bookkeepers is the largest organisation of its kind on the planet, providing accreditation to certified bookkeepers, along with reference material and training.
By going to their websites, you're able to inspect the accreditations of any bookkeeper in Guildford on the register of AAT or ICB members. Undertaking such checks is generally advised before you actually employ any professional bookkeeper in Guildford.
Bookkeeping services are available in Guildford and also in nearby places like: Burpham, Sutton Green, Artington, Woodbridge, Merrow, Bellfields, Woodbridge Hill, Compton, Wood Street Village, Shalford, Stoughton, West Clandon, Peasmarsh, Farncombe, Albury, Onslow Village, and in these postcodes GU1 1NP, GU1 1RN, GU1 1QP, GU1 1FW, GU1 1AR, GU1 1DL, GU1 1EZ, GU1 1EP, GU1 1EQ, GU1 1PD. Local Guildford Bookkeepers will most likely have the phone code 01483 and the postcode GU1. Checking this should make sure that you access local bookkeepers. Guildford sole traders and business owners are able to utilise these and countless other comparable services.
Bookkeeping Guildford - Outsourcing Options
All businesses in Guildford should understand the significance of bookkeeping. It helps business people monitor their incomings and outgoings, the money left in their bank, the sum total of their assets and liabilities, and so on. With the owner of the business having to deal with the concerns and issues of running a business, the task of carrying out the bookkeeping is often outsourced to a bookkeeping company or freelance bookkeepers in Guildford.
If a company in Guildford hires a bookkeeper in order to become an employee, the company will need to spend a substantial amount of money in training the person for the purpose of doing the bookkeeping tasks. In addition to that, there is no guarantee that he or she will stay for long in the company. In that case, the company stands to lose a considerable amount of money. Apart from that, businesses will have to look for ways and means to provide benefits and incentives to keep the employee there. These are a few of the reasons behind business organisations enlisting the services of professional bookkeepers and bookkeeping companies in Guildford.
The business owner in Guildford can look for the following options with the bookkeeping company that offer outsourcing services. Check and find out how much savings he can enjoy by outsourcing the bookkeeping work. Since the expenses related to hiring and training the in-house staff is a great concern, it would be wise on the part of business owner to focus on an outsourcing company that can offer good savings. Try to get first hand information regarding the systems and methods employed by the company involved in bookkeeping services. It is very much important to get quality accounting services and greater security for your financial data. By quality, one means reliable, precise, and real-time bookkeeping data delivered within the set time. In short, the company that offers bookkeeping services in Guildford should have a well protected system that can be relied on and trusted.
These professional bookkeeping companies in Guildford 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.
Guildford Bookkeeper Tasks
Most bookkeepers in Guildford will be willing to offer you the following bookkeeping and accounting services: personal tax returns Guildford, management accounts, bookkeeping for home-based businesses, QUOTE FORM provided. We will get back to you with details as soon as we are able.in Guildford, bookkeeping services for societies, independent bookkeeping services, Quickbook bookkeeping services in Guildford, invoice processing, double-entry bookkeeping, tax returns, bookkeeping price quotes Guildford, partnership returns in Guildford, bookkeeping services for organisations in Guildford, bookkeeping for limited companies, accountancy packages, bookkeeping services for charities Guildford, bookkeeping for startups, payment services in Guildford, bookkeeping services, bookkeeping for clubs Guildford, bookkeeping services for the self-employed, bookkeeping services for sole traders, bookkeeping for shops, bookkeeping services for pubs, landlord bookkeeping Guildford, cash books in Guildford, letting agent bookkeeping Guildford, PAYE & wages, cash flow analysis, mobile bookkeeping services, and more. Listed are just a selection of the activities that are conducted by local bookkeepers. Guildford professionals will be happy to tell you about their full range of bookkeeping services. If there are other Guildford bookkeeper requirements that you want but can't see here, you can mention them on the
Bookkeeping Enquiries Surrey
Recent Surrey bookkeeping enquiries: Jade Thorne was searching forWhyteleafe. Kairo Humphries in Pirbright, Surrey was hunting for a bookkeeper for his building company. Rosanna Cousins from Effingham was trying to find bookkeeping for her fashion company. Sienna-Rose Batchelor in Dunsfold was asking about bookkeeping services for her internet sales business. Iwan Newby from Brookwood was hunting for bookkeeping services for his online business. Aria Merritt in Holmwood asked "are there any good ?". Crystal Murray in Frensham, Surrey was looking for a bookkeeper to do her Self-Assessment tax returns. William Rothwell from Claygate was interested in a bookkeeper for his pub. Most of these local clients searched for "Bookkeepers Surrey" and came across this web page on either Google, Yahoo or Bing.
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Guildford Bookkeeper Questions
A couple of weeks ago I was researching the kinds of questions folks in Guildford ask with regards to bookkeepers. A number of you have e-mailed in helpful queries that might be applicable to this article. Those that caught the eye were, What are the benefits of a bookkeeper? How can I get bookkeeper in Guildford? Should a bookkeeper have insurance? How much is bookkeeping per hour? Why is bookkeeping important to any business operation in Guildford? Do bookkeepers do journal entry? What makes a great bookkeeper? How do bookkeeping services work? What is the difference between an accountant and a bookkeeper? The majority of these queries hopefully have been answered in this short article, and if some remain unanswered a bookkeeping "Questions and Answers" section is a feature we'll be introducing in the near future. Our thanks go out to the following folks in Guildford for finding the time to send in their questions; Rhys Rogers, Reece Singh, Kristian Middleton and Valentina Burrows. It was also awesome to receive offerings from Evelyn Franklin in Merrow, Jaxson Marriott in Sutton Green and Norah Underwood in Albury.
Bookkeepers Near Guildford
Also here.: Woodbridge bookkeepers, Burpham bookkeepers, Farncombe bookkeepers, Artington bookkeepers, Onslow Village bookkeepers, Compton bookkeepers, Wood Street Village bookkeepers, Shalford bookkeepers, Stoughton bookkeepers, Merrow bookkeepers, Sutton Green bookkeepers, Peasmarsh bookkeepers, Woodbridge Hill bookkeepers, Albury bookkeepers, Bellfields bookkeepers, West Clandon and more. All these locations are serviced by local bookeepers. Guildford traders and businesses can get quotes for bookkeeping services by clicking
- Guildford Sole Trader Bookkeeping
- Guildford Small Business Bookkeeping
- Guildford Cash Flow Analysis
- Guildford Bookkeeping Price Quotes
- Guildford Self-Assessment Bookkeeping
- Guildford Invoice Processing
- Guildford Tax Returns
- Guildford Double-Entry Bookkeeping
- Guildford Wages and PAYE
- Guildford Profit and Loss Reporting
- Guildford Cheap Bookkeeping
- Guildford VAT Returns
- Guildford Credit Control
- Guildford Payroll Services
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Bookkeepers Around Guildford: People who live in these nearby Guildford roads and streets have just recently inquired about bookkeeping services - Ardmore Houses, Catalpa Close, Back Lane, The Parade, The Close, Stonebridge Fields, Scott Close, Benbrick Road, Ash Grove, Aldershot Road, School Close, Brittens Close, Brook, Stoke Road, Chinthurst Park, Chantry Lane, Barton Place, Springhaven Close, Brodie Road, Condor Court, The Paddock, Stoke Fields, Stonards Brow, Dene Road, Barnett Lane, Downing Avenue, The Maltings, Douglas Close, Alford Close, as well as the following local Guildford postcodes: GU1 1NP, GU1 1RN, GU1 1QP, GU1 1FW, GU1 1AR, GU1 1DL, GU1 1EZ, GU1 1EP, GU1 1EQ, GU1 1PD.
To find out local Guildford info take a look here
More Surrey Bookkeepers: More Farnham, Walton-on-Thames, Horley, Chertsey, Ewell, Molesey, Addlestone, Banstead, Haslemere, Redhill, Camberley, Godalming, Sunbury-on-Thames, Woking, Staines, Cranleigh, Windlesham, Epsom, Dorking, Weybridge, Reigate, Esher, Guildford, Caterham, Hersham, Leatherhead and Ash.:
Bookkeepers in GU1 area, telephone code 01483.
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