Bookkeepers Hartlepool County Durham (TS24): Irrespective of whether you operate an online store, run a small business or are a sole trader in Hartlepool, you're entirely responsible for maintaining accurate, "true and fair" financial and accounting records for a minimum of 6 yrs to comply with the Companies Act (2006). Failure to produce such records may leave you facing disqualification as a Company Director, together with a hefty fine. There is a substantial investment of time involved with keeping such financial records on your own, and it can pay to use a professional accountant or bookkeeping company, particularly when you consider that according to Accounting Today magazine over forty percent of small businesses spend over eighty hours every year doing their bookkeeping.
If just the thought of tracking assets and liabilities, writing out ledgers, compiling balance sheets or creating profit, loss and fiscal reports fills you with dread, then it is time to contact a bookkeeper in Hartlepool for advice and guidance.
BOOKKEEPER OR ACCOUNTANT?
"Exactly what is the distinction between a bookkeeper and an accountant?" Is a question that is asked by many small business owners in Hartlepool. In the old days it was frequently looked at as to be beneath the skill set, experience and qualifications of an accountant to do the work of a bookkeper, however due to massive improvements in software over the past 10 years, many bookkeeping tasks will now be taken on by accountancy firms in the Hartlepool area. Many accounting firms now have a flat rate for bookkeeping services, to keep them consistent with what a typical bookkeeper in Hartlepool would usually charge. Business owners are now benefiting from this, since it provides a greater variety of competition within this sector and can mean that the cost of bookkeeping is much more affordable than it would have been previously.
The amount of qualification and training that is necessary is the big difference between a bookkeeper and an accountant. An accountant will usually hold at least a degree in accounting with specialist training in the field of taxes and other fiscal and business management. A bookkeeper in Hartlepool will definitely have an understanding of these disciplines, 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 day by day transactions (financial) of any enterprise or business in Hartlepool. This is likely to include, but is by no means limited to;
- Highlighting and rectifying any discrepancies in financial accounts.
- Billing of customers for work completed or goods.
- Monthly reports and reconciliations.
- VAT submissions and recording.
- Payroll services.
- Recording invoices received and making certain that payment is completed on time.
- Making sure that double-entry bookkeeping and accounting practices are implemented.
- Logging of all financial incomings; including electronic, card and cash payments.
If you're prepared to do the bulk of your bookkeeping work yourself; a professional bookkeeper might only be needed to double check your figures every once in a while. To make sure that any problems or mistakes can be discovered and amended speedily, as a bare minimum, this should be every month. This trade-off can sometimes be the most cost-effective option if it's possible to stay on top of your day to day trading and financial transactions.
If you are presently looking at hiring a bookkeeper in Hartlepool, whatever your circumstances are, it's a good bet that you could be getting stressed about your financial and tax procedures. A professional bookkeeper will be able to help you to link the most suitable computer software with your business accounts to facilitate the seamless pull-through of financial data, and will provide assistance with things such as creating expense reports, invoicing and stocktaking.
The ability to reconcile cash flow with accounts payable, is an extremely important aspect of a good bookkeeper. This means that your bookkeeper will schedule bill payments to times when your finances are buoyant and in good shape, instead of paying a bill straight away, or waiting on a final notice, which many small businesses are guilty of at some time or other. This is not just to make sure that your business is on a sound financial footing all the time, but also to keep you in good stead with those who supply your services or materials. When you are purely focussed on the operation of your business, this is a juggling act that can be tough to perform on your own.
If you are a sole trader, or own a small business, employing a professional bookkeeper in Hartlepool, also gives them the opportunity to cast a critical eye over the financial dealings of your business. It could be that business trends and patterns that you have overlooked could therefore be highlighted. A bookkeeper identifying a brand new opportunity or noticing an area of the business which is dropping off in profits, is not at all unheard of. For the economic growth of any enterprise in Hartlepool, it is essential that these KPI's (key performance indicators) are spotted early on.
If you send out invoices in your business operations, having to chase up late payments can be really humiliating. Having somebody from outside your normal business bubble, can take away the embarrassment of making that phone call or visit to your clients. To help take care of the issue, if you have a consistent late or non-payer, there are legal procedures that can be used by a bookkeeper, so court proceedings can be avoided.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some relatively basic bookkeeping requirements for sole traders, that are laid out by law. A sole trader is expected to track income and expenditure from month to month and keep all invoices and receipts. Even though this might initially sound quite simple, retaining the expertise of a competent bookkeeper is still recommended. A professional sole trader bookkeeper in Hartlepool can give you advice on what you are able to claim back from HMRC as bonafide business expenses. This might include bills and rent if you work from home, stationery, advertising expenses, printer ink and items such as laptops. To discover how they can help your business to grow, talk to a trusted bookkeeper for more comprehensive advice and guidance.
ONLINE TRADERS IN HARTLEPOOL
There are niche areas in bookkeeping where a specialist might be needed. If cross-border and international taxes, multi-currency processing, online payments and exchange rate transfers are involved, for example if you manage an online store, you'll need a bookkeeper in Hartlepool who's familiar with these practices. If the same store sells goods that you hold or produce, then supervising your inventory on a 24/7 basis is an important concern, as I'm sure you will appreciate the internet doesn't sleep, so nor should your bookkeeping software or services.
A remote virtual office can also be supplied in conjunction with bookkeeping services. This can be useful in allowing an online only business or sole trader to have a telephone service and postal address to provide a physical link with their client base. Not all Hartlepool bookkeeping companies will supply this solution, but it is worth talking about the possibilities if it is something that could benefit you.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the bookkeeping qualifications are at Certificate or Diploma level, and it's not necessary for a qualified bookkeeper in Hartlepool to have a degree in accounting. If the chosen route to qualification is through further education colleges and universities, this option is still available, whereas there there's an ever-growing selection of bookkeeping courses available online.
To provide certification and training for bookkeepers, there are basically 2 key organisations of interest:
The Institute of Certified Bookkeepers or ICB: Keeping their associated members up-to-date with the latest trends and innovations, the Institute of Certified Bookkeepers (ICB) is the largest organisation of its kind in the world, providing accreditation to certified bookkeepers, together with reference material and training.
The AAT (Association of Accounting Technicians): With fully trained bookkeepers being able to use the letters AATQB after their name, the Association of Accounting Technicians (AAT) provides advanced qualifications and training. They are then able to become approved AAT bookkeepers, which guarantees their customers a minimum level of service which is backed by the association. To preserve the integrity and values of the AAT membership, a bookkeeper who's associated with the AAT can be subject to disciplinary and tribunal procedures if they have a complaint against them or are found to have contravened the code of practice.
By visiting their respective websites, it is possible to examine the qualifications of any professional bookkeeper on the register of AAT or ICB members. Carrying out this check is widely recommended before you use the services of any professional bookkeeper in Hartlepool.
Bookkeeping services are available for those living in in Hartlepool and also in: Rift House, Hartfields, High Throston, Claxton, Blackhall Colliery, Greatham, Castle Eden, Hesleden, Elwick, Seaton Carew, together with these postcodes TS24 0QY, TS24 0PW, TS24 0PA, TS24 0RH, TS24 0NZ, TS24 0EN, TS24 0QA, TS24 0BH, TS24 0JN, TS24 0HP. Local Hartlepool Bookkeepers will most likely have the postcode TS24 and the telephone dialling code 01429. Checking this can guarantee you are accessing locally based bookkeepers. Hartlepool sole traders and business owners can benefit from these and countless other bookkeeping related services.
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Hartlepool Bookkeeper Tasks
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County Durham Bookkeeper
Around County Durham you will additionally discover: Byers Green accounts services, Middleton St George bookkeepers, Softley bookkeeping, Gainford bookkeepers, Hurworth bookkeepers, Wheatley Hill accounts services, Shotton Colliery accounts services, Monk Hesleden bookkeepers, Little Lumley , Cornsay bookkeeping services, Belmont bookkeeping. All over the County Durham region you will be able to find bookkeepers who'll provide high quality services for your security requirements. If you can't identify the ideal in Hartlepool itself you should not have any difficulty locating one someplace nearby., Startforth bookkeeping, Greatham bookkeeper, Stanhope bookkeeping, Little Lumley bookkeeper, Kirk Merrington , Hurworth bookkeeper, Esh Winning bookkeepers, Sherburn Hill bookkeepers, Hutton Henry accounts services, High Etherley , Esh Winning bookkeeping accountants, Dalton le Dale bookkeeping accountants, Fishburn bookkeepers, White le Head accounts services, Preston on Tees , Whitton bookkeeper, Craghead accounts services, Eldon Lane bookkeeping services, Middleton in Teesdale accounts services, Greatham
Bookkeepers Near Hartlepool
Also here.: Elwick bookkeepers, Hesleden bookkeepers, Hartfields bookkeepers, Castle Eden bookkeepers, Blackhall Colliery bookkeepers, Rift House bookkeepers, Seaton Carew bookkeepers, Claxton bookkeepers, Greatham bookkeepers, High Throston and more. All of these locations are serviced by local bookeepers. Hartlepool people can get rates for bookkeeping services by clicking
- Hartlepool Sole Trader Bookkeeping
- Hartlepool Cash Flow Management
- Hartlepool Small Business Bookkeeping
- Hartlepool Bookkeeping Estimates
- Hartlepool Tax Returns
- Hartlepool Tax Preparation
- Hartlepool Cheap Bookkeeping
- Hartlepool Credit Control
- Hartlepool VAT Returns
- Hartlepool Profit and Loss Analysis
- Hartlepool Wages and PAYE
- Hartlepool Double-Entry Bookkeeping
- Hartlepool Self-Assessment Bookkeeping
- Hartlepool Payroll Services
Bookkeepers Around Hartlepool: People who live in these local Hartlepool roads and areas have just recently inquired about bookkeeping services - Tenby Walk, Tiverton Grove, Bransdale Grove, Belle Vue Way, Dene View, Salter Walk, Ainderby Walk, Tennyson Avenue, Stuart Close, Carrick Street, Browning Avenue, Doyle Walk, St Hilda Crescent, Dickens Grove, Cameron Road, Church Close, Tunstall Grove, Downham Grove, Bluebell Close, The Lawns, Alloa Grove, Spalding Road, Bunting Close, The Village, Studland Drive, Bamburgh Court, Stratford Road, Tanfield Road, Scott Grove, Dickens Street, as well as the following Hartlepool area postcodes: TS24 0QY, TS24 0PW, TS24 0PA, TS24 0RH, TS24 0NZ, TS24 0EN, TS24 0QA, TS24 0BH, TS24 0JN, TS24 0HP.
To find out local Hartlepool information click here
Bookkeepers in TS24 area, telephone code 01429.
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