Bookkeepers Herne Bay Kent (CT6): You're responsible for maintaining "true and fair", accurate financial and accounting records for at least 6 years, if you are a sole trader, operate an online store or own a small business in Herne Bay, to comply with the Companies Act. You may face a hefty fine, and possibly disqualification as a Company Director, if you are unable to produce such records. You can carry out these financial recordings yourself, but when you think about the fact that according to Accounting Today over forty percent of small businesses spend 80 plus hours each year doing their bookkeeping, it's often more cost-effective to employ a professional bookkeeper or accountant.
It's high time to get in touch with a bookkeeper in Herne Bay for advice, if the thought of tracking assets and liabilities, compiling balance sheets, filling out ledgers or preparing profit, loss and fiscal reports fills you with panic.
BOOKKEEPER OR ACCOUNTANT?
The very first question that a lot of people ask is "Precisely what is the difference between an accountant and a bookkeeper?" The truth is that whilst at one time the bookkeeping process, was looked at as beneath the skill set, experience and qualifications of an accountant, because of software improvements over the past 10 yrs or so, most accountancy companies in the Herne Bay area will now take on bookkeeping tasks. A lot of accounting firms now have a fixed fee for bookkeeping services, to keep them consistent with what an independent bookkeeper in Herne Bay would normally charge. Because it provides a wider variety of competition within this sector, this is great news for small businesses in Herne Bay, making their bookkeeping much more affordable than it was previously.
When you're thinking about the differences between an accountant and a bookkeeper in Herne Bay, the most notable one is the standard of training and qualification that's necessary for each discipline. At least a degree in accounting with specialist training in the field of taxes and other financial and business management, will usually be held by an accountant. A bookkeeper in Herne Bay will certainly have a good understanding of these fiscal procedures, but may not necessarily have the same levels of training and experience, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER
To explain in the simplest of forms possible, bookkeeping involves the recording of day by day financial transactions of any business in Herne Bay. This could include, but is not limited to;
- Documenting invoices received and ensuring that payment is completed on time.
- Recording of all financial incomings; including cash, electronic and card payments.
- VAT submissions and recording.
- Payroll services.
- Ensuring accounting and double-entry bookkeeping practices are implemented.
- Monthly reconciliations and reports.
- Highlighting any discrepancies in financial accounts and rectifying them.
- The billing of customers for goods or work completed.
If you are able to carry out the bulk of your bookkeeping work yourself; a professional bookkeeper might just be needed to double check your figures every once in a while. This really needs to be done on a monthly basis as a bare minimum, as this allows for any mistakes or problems to be found and rectified quickly. If it's possible to stay up-to-date with your day to day trading and financial transactions, this trade-off can sometimes be the most affordable option.
It's fairly likely that if you are thinking of hiring a bookkeeping company, you're currently getting stressed about the financial recording aspects of your business in Herne Bay. To enable the seamless organisation of financial data, a decent bookkeeping company will help you to link the latest software program to your accounts, and will provide assistance with stuff like generating expense reports, stocktaking and invoicing.
The ability to reconcile accounts payable with cash flow, is an extremely crucial element of a good bookkeeper. Which means that your bookkeeper will prioritise the payment of bills to a time when your accounts are in good shape, rather than paying a bill immediately, or waiting on an overdue notice, which many small businesses are guilty of doing. This not only keeps you in good stead with suppliers and the businesses who supply you with services, but also ensures your business enterprise is on a good financial footing. This is a balancing act that you may find tricky to accomplish as an individual when you're mostly focussed on the operation of your business.
Employing a certified bookkeeper in Herne Bay, if you are a sole trader, or for your small business also gives them the opportunity to cast a fresh eye over your business finances. Business patterns and trends that you may have overlooked may be highlighted by this kind of independent assessment. It is by no means unusual for an astute bookkeeper to flag up an area of the business which is dropping off in profits, or spot a brand new opportunity that could prove worthwhile. For ensuring the growth of any small business in Herne Bay, it is important that such key performance indicators are spotted early.
Having to chase up a late payment can be a fairly humiliating situation for you, if you give out invoices as part of your business operations. Some of that apprehension can be taken away by having a professional outside your business situation make that telephone call or visit to your customer. If you've got problems with a repeating late or non-payer there are legal techniques that a bookkeeper can make use of to help resolve the issue before the matter winds up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you are a sole trader the bookkeeping requirements, as set out in law, are quite straightforward. A sole trader is required to keep records of expenditure and income on a monthly basis and keep all invoices and receipts. It is still recommended that you retain the expertise of a bookkeeper, although this may sound simple. When preparing your tax returns, a specialised sole trader bookkeeper in Herne Bay will be in a position to advise you on what your bonafide business expenses are, and make sure these are claimed back from HMRC every year. This might include stationery goods, consumables, items such as laptops, advertising and bills and rent if you work from home. Talk to your bookkeeper for more in-depth advice and learn how they might help your business to grow.
BOOKKEEPING FOR ONLINE TRADERS IN HERNE BAY
Specialistare often necessary for certain bookkeeping niches. As an example, if you run a store online, you'll be wise to employ a bookkeeper in Herne Bay who understands online payments, exchange rate transfers, international and cross-border taxes and multi-currency processing. Because the internet doesn't sleep, if the same store sells goods that you produce or hold then monitoring your inventory and stock on a 24 hours a day basis is an important concern which will have to be managed.
In conjunction with bookkeeping services, it is also possible to provide a remote virtual office. This allows an online only business or sole trader to have a telephone service and postal address to provide a physical connection to their customers. Not all Herne Bay bookkeepers will be willing to supply this service, but it is worthwhile discussing if it's required.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It isn't mandatory for a qualified Herne Bay bookkeeper to hold a degree, and a good number of the bookkeeping qualifications are held at Certificate and Diploma level. Qualifications can be obtained via further education universities and colleges but there are also an ever-growing array of courses available online.
Certification and training for bookkeepers is mainly provided by 2 key organisations:
The Association of Accounting Technicians or AAT: With certified bookkeepers entitled to use the letters AATQB, the AAT (Association of Accounting Technicians) provides advanced qualifications and training. They then become licensed AAT bookkeepers, backed up by this well-respected association, which promises a minimum standard of service for their customers. To protect the credibility of the AAT, if a bookkeeper who is a member of the AAT is found to have broken the code of practice or has a complaint against them, they can be subject to tribunal and disciplinary processes.
The Institute of Certified Bookkeepers (ICB): Keeping their members current with the latest trends and developments, the Institute of Certified Bookkeepers (ICB) is the largest organisation anywhere in the world, providing accreditation to certified bookkeepers, together with reference material and training.
You can check the accreditations of any professional bookkeeper on the register of ICB or ATT members on their websites. Implementing this check is strongly recommended before using the services of any local bookkeeper in Herne Bay.
Bookkeeping services are available for those living in in Herne Bay and also in nearby places like: Tyler Hill, Birchington, Beltinge, Hersden, St Nicholas at Wade, Westbere, Broomfield, Monkton, Eddington, Upstreet, Herne Common, Reculver, Chestfield, Hoath, Broadoak, together with these postcodes CT6 5JG, CT6 5LH, CT5 2QJ, CT6 5DS, CT6 5AF, CT6 5PS, CT6 5JL, CT6 5SG, CT6 5DF, CT6 5AS. Local Herne Bay bookkeeper services will probably have the postcode CT6 and the telephone dialling code 01227. Checking this out should confirm you are accessing local bookkeepers. Herne Bay sole traders and business owners can benefit from these and lots of other bookkeeping related services.
Franchise bookkeeping Herne Bay.
Herne Bay Bookkeeper Tasks
Most bookkeepers in Herne Bay will be able to offer you the following bookkeeping services: professional bookkeeping services, independent bookkeeping services, letting agent bookkeeping Herne Bay, bookkeeping services for shops, bookkeeping services for tradesmen, QUOTE FORM provided. We will get back to you with specifics as soon as we are able.Herne Bay, Self-Assessment tax returns, invoice processing Herne Bay, bookkeeping services for charities, bookkeeping for small businesses, business bookkeeping Herne Bay, wages & PAYE, accounting and bookkeeping services, company cash books, bookkeeping services for freelancers, off-site bookkeeping, Herne Bay, bookkeeping services for sole traders, bookkeeping services for restaurants in Herne Bay, bookkeeping for societies, landlord bookkeeping Herne Bay, payment services in Herne Bay, cash flow analysis Herne Bay, bookkeeping services for startups, Herne Bay, bookkeeping for home-based businesses, bookkeeping services for organisations, Xero bookkeeping, and more. These are just some of the tasks that are accomplished by local bookkeepers. Herne Bay companies will tell you about their whole range of services. If there are different Herne Bay bookkeeper requirements that you want but cannot see here, you can mention them on the
Bookkeepers Near Herne Bay
Also here.: Monkton bookkeepers, St Nicholas at Wade bookkeepers, Birchington bookkeepers, Herne Common bookkeepers, Upstreet bookkeepers, Eddington bookkeepers, Chestfield bookkeepers, Broadoak bookkeepers, Hersden bookkeepers, Reculver bookkeepers, Hoath bookkeepers, Broomfield bookkeepers, Beltinge bookkeepers, Westbere bookkeepers, Tyler Hill and more. The majority of these villages and towns are catered for by local bookeepers. Herne Bay businesses can get rates for bookkeeping services by going
- Herne Bay Bookkeeping Quotes
- Herne Bay Bookkeeping Services
- Herne Bay Payroll Services
- Herne Bay PAYE and Wages
- Herne Bay Cheap Bookkeeping
- Herne Bay Self-Assessment Tax Returns
- Herne Bay Self-Assessment Bookkeeping
- Herne Bay Double-Entry Bookkeeping
- Herne Bay Credit Control
- Herne Bay VAT Returns
- Herne Bay Bank Reconciliations
- Herne Bay Profit and Loss Reports
- Herne Bay Small Business Bookkeeping
- Herne Bay Cash Flow Management
Bookkeepers Around Herne Bay: People living in the following roads and areas have recently requested bookkeeping services - Beacon Avenue, Clare Drive, Snell Gardens, Beacon Walk, The Downings, Sussex Gardens, Charnwood Road, Sea View Square, Shapland Close, Cliff Drive, Coopers Hill, Cornwallis Avenue, Bentley Avenue, Thanet Way, Singer Avenue, Sunnyhill Road, Thornden Wood Road, Church View, Austin Avenue, Spenser Road, Consul Close, Albion Close, Streetfield, Ash Trees, Courtlands, Braggs Lane, Collard Close, as well as these local Herne Bay postcodes: CT6 5JG, CT6 5LH, CT5 2QJ, CT6 5DS, CT6 5AF, CT6 5PS, CT6 5JL, CT6 5SG, CT6 5DF, CT6 5AS.
More Kent Bookkeepers: More Wilmington, Broadstairs, East Malling, Minster, Ramsgate, Biggin Hill, Walmer, Rochester, Meopham, New Romney, Pembury, Hartley, Gillingham, Snodland, Faversham, Swanley, Chatham, Sevenoaks, Tunbridge Wells, Westerham, Deal, Cranbrook, Northfleet, Lydd, Tonbridge, Folkestone, Aylesford, Edenbridge, Boxley, Sheerness, Sandwich, Bearsted, Sittingbourne, West Kingsdown, Westgate-on-Sea, Whitstable, Ashford, Staplehurst, Gravesend, Margate, Paddock Wood, Dover, Birchington-on-Sea, Canterbury, Dartford, Kingsnorth, Southborough, Herne Bay, Strood, Maidstone, Swanscombe, Tenterden and Sturry.:
Herne Bay: If you need local Herne Bay information take a look here
Bookkeepers in CT6 area, (dialling code 01227).
Bookkeepers Herne Bay - Kashflow Bookkeeping Herne Bay - Bookkeeping Herne Bay - Bookkeeper Herne Bay - Bookkeeping Services Herne Bay - Sole Trader Bookkeeping Herne Bay - Small Business Bookkeepers Herne Bay - Bookkeeping Quotes Herne Bay - Bookkeepers Near Herne Bay