Bookkeepers Laindon Essex (SS15): You are entirely responsible for maintaining accurate, "true and fair" accounting and financial records for at least six years, if you own a small business, run an online store or are a sole trader in Laindon, in compliance with the Companies Act. Failing to produce these detailed records may leave you facing Company Director disqualification, together with a fine of thousands of pounds. Accounting Today magazine reports that over 40% of small businesses spend over eighty hours per year doing their accounts, so while you can complete these financial records on your own behalf, it can be more economical to use a professional accountant or bookkeeper to do them instead.
The time has come to get in touch with a bookkeeper in Laindon for assistance, if you are filled with terror just thinking about writing out ledgers, tracking liabilities and assets, creating profit, loss and fiscal reports or producing balance sheets.
BOOKKEEPER OR ACCOUNTANT?
Exactly what is the distinction between a bookkeeper and an accountant is the first question that many small business owners in Laindon ask. In the past it was frequently deemed to be beneath the experience, skill set and qualifications of an accountant to do the work of a bookkeper, however because of improvements in software over the past decade or so, many bookkeeping tasks will now be carried out by accounting firms in Laindon. It's currently quite common for many accounting companies to charge a set rate for bookkeeping services in keeping with a typical bookkeeper's fee. This makes the cost of bookkeeping cheaper than it was previously, and is excellent news for small business owners in Laindon as it gives a greater variety of competition within the marketplace.
When you are considering the differences between a bookkeeper and an accountant in Laindon, the most notable one is the amount of qualification and training that's needed for each discipline. Normally holding an accounting degree, a professional accountant should also have had further training in tax essentials and have qualifications in financial and business management. Whilein Laindon will invariably have a decent understanding of such disciplines, they may not necessarily have the qualifications or levels of experience and training in this field.
RESPONSIBILITIES OF A BOOKKEEPER IN LAINDON
The recording of daily financial transactions of any business in Laindon, describes the act of bookkeeping in the simplest of terms. This could include, but is not limited to;
- Payroll services.
- Ensuring accounting and double-entry bookkeeping practices are followed.
- Recording of all financial incomings; card, cash and electronic payments included.
- VAT submissions and recording.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Billing of customers for goods or work completed.
- Monthly reconciliations and reporting.
- Recording the receipt of invoices and making sure payment is completed punctually.
In accordance with service level you are looking for, e.g. you are prepared to undertake the larger part of bookkeeping work; a professional bookkeeper might only be needed to double check your accounts on a set schedule. This ought to be monthly as a bare minimum, as this will allow any problems or mistakes to be found and amended swiftly. This may be an extremely cost-effective trade-off, providing it's possible to stay on top of your financial transactions without impacting on your day by day business operations.
Whatever your current situation is, if you are looking at hiring a bookkeeper in Laindon, it is a good bet that you may be stressed with the financial recording aspects of your small business. A good bookkeeping service will be able to provide advice on everything from creating expense reports, stocktaking and invoicing, to linking the most suitable software application with your accounts to enable the seamless processing of data.
The reconciliation of cash flow with accounts payable is one of the most crucial elements of a good bookkeeping service. This means that rather than paying an outstanding bill right away, or waiting on a final notice, which a lot of small businesses in Laindon are guilty of doing, your bookkeeper will organise bill payments to times when your accounts are buoyant and in good order. This doesn't just keep you in the good books of suppliers and the businesses who supply you with services, but also makes certain that your enterprise or business is financially secure. When, as an individual, you are completely focussed on running your business, this can be a balancing act that is challenging to accomplish.
Using a qualified bookkeeper in Laindon, if you're a sole trader, or for your small business also gives them the opportunity to cast an unrelated eye over your business. Business patterns and trends that might have gone unnoticed might be pinpointed by this type of dispassionate appraisal. It's not unheard of for a bookkeeper to recognise an opportunity or flag up an area which is falling in profits. It's crucial for powering growth in any business in Laindon, to spot these KPI's (key performance indicators).
Having to chase up late payments can be a fairly uncomfortable scenario for you, if you send out invoices in your business operations. By having an individual outside your business situation make that phone call or visit to your customers, some of that awkwardness can be eliminated. A professional bookkeeper can use legal procedures to deal with a consistent late or non-payer, and without the need for court proceedings, help to clear up the situation.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal bookkeeping requirements if you're a sole trader, are relatively straightforward and simple. Sole traders are required to track income and expenditure on a month by month basis and keep all receipts and invoices. Now, this does not seem too difficult does it? Yet, it's still recommended that you hire the expertise of a bookkeeping company to make sure that it's all done properly. When working through your income tax returns, a specialist sole trader bookkeeper in Laindon can advise you on what your valid business expenses are, and make certain these are claimed back from HMRC. This may include promotional advertising, printer ink, items such as computers, rent and bills if working from home and stationery goods. To see how they can help your business grow, chat to a trusted bookkeeper for more comprehensive advice.
There are niches in bookkeeping where a specialist might be required. You will need a bookkeeper in Laindon who understands online payments, exchange rate transfers, multi-currency processing and cross-border and international taxes, if you manage a store online for instance. Overseeing inventory on a 24 hours a day basis is also a vital priority, if that same store sells goods that you produce or hold, after all the internet does not sleep, therefore neither should your bookkeeping software or services.
In combination with your bookkeeping services, a virtual office can also be provided. This allows a sole trader or online only business to offer a physical link with their customers, via a postal address and telephone service. It is definitely worth talking about this possibility if it's something that could be of benefit, although not all bookkeeping companies in Laindon will provide this option.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the field of bookkeeping are at Certificate and Diploma level, and a professional Laindon bookkeeper does not need to hold a degree. Bookkeeping qualifications can be obtained through further education colleges and universities but there's also an ever-increasing choice of courses offered online.
There are basically 2 main organisations that provide training and certification for bookkeepers:
The Institute of Certified Bookkeepers (ICB): The largest organisation of its kind in the world is the the Institute of Certified Bookkeepers (ICB), and it offers accreditation to certified bookkeepers, along with reference material and training to keep their members up-to-date with the latest trends.
The AAT (Association of Accounting Technicians): Able to use the letters AATQB after their name, a fully trained member of the AAT or Association of Accounting Technicians will have completed advanced qualifications and training in bookkeeping. They're then permitted to become certified AAT bookkeepers, which guarantees their customers a high standard of service which is backed by the organisation. To safeguard the integrity of the AAT, if a bookkeeper who is associated with the AAT has a complaint against them or is found to have breached the code of conduct they will be liable to disciplinary and tribunal procedures.
The accreditations of any Laindon bookkeeper can be checked on the register of ICB or ATT members on their websites. It is strongly advised to implement this check, before getting involved with any local bookkeeper in Laindon.
If you're self-employed or have a small business in Laindon, you may have to file a self-assessment tax return. This task can be especially challenging if you are not acquainted with the process. A qualified bookkeeper can help you keep your records in order and prepare your tax return on time and accurately.
Many benefits can be gained by using a bookkeeper to complete your tax returns. First and foremost, they will have the experience and expertise to make certain that your return is completed correctly. This should help you avoid any problems with HMRC, such as interest charges or penalties. Secondly, a lot of time and effort can be saved by a bookkeeper. You can leave the paperwork and calculations to them so you can focus on the running of your business. Third, Laindon bookkeepers can provide you with essential advice on tax planning and financial strategy. This can help you to boost your profits and lower your tax liability. (70193)
Bookkeepers Near Laindon
Also: North Benfleet bookkeepers, Galmington bookkeepers, Gardiners Way bookkeepers, Crays Hill bookkeepers, Herongate bookkeepers, Great Burstead bookkeepers, Nevendon bookkeepers, Little Burstead bookkeepers, Bulphan bookkeepers, Fobbing bookkeepers, Dunton bookkeepers, South Fields bookkeepers and more.
Laindon Bookkeeper Tasks
Most Laindon bookkeepers will be willing to offer you the following accounting and bookkeeping services: company cash books in Laindon, management reports, accountancy packages, QUOTE FORM provided. We will get back to you with information as soon as we can.Laindon, in Laindon, Self-Assessment tax returns, bookkeeping services, bookkeeping for home-based businesses, bookkeeping for restaurants, off-site bookkeeping services in Laindon, bookkeeping services for pubs, bookkeeping for the self-employed in Laindon, mobile bookkeeping services, bookkeeping and accounting services in Laindon, payment services, in Laindon, bookkeeping services for startups, cash flow analysis, , charity bookkeeping Laindon, invoice processing, wages & PAYE, bookkeeping for societies, VAT returns, professional bookkeeping services, Sage bookkeeping, tax returns in Laindon, franchise bookkeeping Laindon, bookkeeping services for organisations, profit & loss reports, and more. Listed are just a small portion of the duties that are performed by local bookkeepers. Laindon professionals will let you know their entire range of services. If there are some other Laindon bookkeeper requirements that you want but cannot see here, you should mention them on the
More Laindon Services: Undoubtedly, whenever you are in need of a bookkeeper in Laindon, Essex, you will probably be in need of all types of different services and along with social media marketing in Laindon, telemarketing in Laindon, promotional videos in Laindon, telephone system services in Laindon, HR consulting in Laindon, pay per click advertising in Laindon, EPOS in Laindon, network, database & IT support in Laindon, Ecommerce in Laindon, financial advice in Laindon, business consulting in Laindon, an accountant in Laindon, web design in Laindon, cloud & hosting services in Laindon, digital marketing services in Laindon, a marketing agency in Laindon, card processing in Laindon, and other different Laindon specialists.in Laindon, Essex, you may additionally need
Quickbooks Bookkeeping Laindon - Bookkeeper Laindon - Bookkeepers Laindon - Cheap Bookkeeping Laindon - Self-Assessment Tax Returns Laindon - Bookkeeping Laindon - Bookkeeping Services Laindon - VAT Returns Laindon - Bookkeeping Quotes Laindon