Bookkeepers Lancing West Sussex (BN15): As stated by the Companies Act, if you are a sole trader, operate an online store or run a small business in Lancing, you are entirely responsible for maintaining "true and fair", accurate accounting and financial records for at least six years. You might face disqualification as a Company Director and get a fine of thousands of pounds, if you can't produce this information. It is often better to employ a professional accountant or bookkeeper to accomplish this for you, because according to Accounting Today magazine over 40% of small businesses spend at least eighty hours annually on their bookkeeping duties, which is a significant time investment, and may be better spent on actually running your business.
If you're overcome with a sense of dread simply thinking about the possiblility of writing out ledgers, tracking liabilities and assets, creating profit, loss and financial statements or producing balance sheets, then the time to get in touch with a bookkeeper in Lancing for guidance has arrived.
BOOKKEEPER OR ACCOUNTANT?
A frequent question that's asked by most people in Lancing is "What is the distinction between an accountant and a bookkeeper?" In the past it was normally considered to be beneath the qualifications, experience and skill-sets of an accountant to do the work of a bookkeper, but due to software improvements over the past decade, many bookkeeping tasks will now be undertaken by accounting firms in Lancing. Many accountancy firms now charge a set fee for bookkeeping services, to keep them in step with what a typical bookkeeper in Lancing would usually charge. This makes the cost of bookkeeping cheaper than it was previously, and is good news for small business owners in Lancing because it generates a greater variety of competition within this sector.
When you're thinking about the differences between an accountant and a bookkeeper, the most notable one is the standard of qualification and training that is needed for each discipline. An accountant will normally a least hold a degree in accounting with specialist training in the field of taxes and other business and fiscal management. A bookkeeper in Lancing will certainly have a decent understanding of these procedures, but may not have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER IN LANCING
In the simplest of terms, the bookkeeping process involves the recording of day by day financial transactions of any business in Lancing. This will include;
- VAT submissions and recording.
- The billing of customers for work completed or goods.
- Making sure that double-entry bookkeeping and accounting practices are followed at all times.
- Monthly reconciliation and reporting.
- Recording invoices received and making certain payment is completed by the due date.
- Logging of all financial incomings; card, cash and electronic payments included.
- Payroll services.
- Highlighting and rectifying any discrepancies in the financial accounts.
While it is dependent on the type of service you're interested in, if you are able to do the majority of the bookkeeping work yourself, a bookkeeper might just be needed to periodically double-check your accounts. To enable any mistakes or problems to be detected and amended speedily, this ought to be every month as a bare minimum. This trade-off can sometimes be the most affordable option if you are confident of keeping in control of your day by day financial transactions and trading.
If you're seriously looking to hire a bookkeeper in Lancing, whatever your scenario, there's a fair chance that you might be fretting over your financial and tax procedures. A decent bookkeeping service will help you out with everything from producing expense reports, stocktaking and invoicing, to linking your accounts with the latest software program to seamlessly process all your transaction data.
An extremely important element of effective bookkeeping is the ability to reconcile accounts payable with cash flow. Which means that instead of paying an outstanding bill immediately, or waiting on an overdue notice, which most small businesses in Lancing are guilty of doing, your bookkeeper will optimise the payment of bills to a time when your accounts are buoyant and in good order. This isn't simply to make certain that your enterprise or business is on a secure financial footing all the time, but also to keep you in good stead with the businesses who provide your materials or services. When, as an individual, you're purely focussed on the operation of your daily business activities, this is a juggling act that can be tricky to accomplish.
For your small business enterprise, or if you're a sole trader, using a professional bookkeeper in Lancing, gives you an opportunity to have a fresh eye cast over your business. It might be that business patterns and trends that you might have overlooked will therefore be pinpointed. It's by no means unusual for a keen eyed bookkeeper to flag up an area of the business which is dropping in profits, or spot an opportunity which may prove worthwhile. It's vital for the long-term growth of any enterprise in Lancing, to spot such key performance indicators (KPI's).
If you give out invoices in your business operations, having to chase up late payments can be quite uncomfortable. By having an individual outside your business situation visit your customer or make that phone call, some of that embarrassment can be removed. There are legal options a bookkeeper can make use of, if you've got a persistent late payer, and they can help to resolve the issue before the matter ends up in a claims court.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The requirements for bookkeeping by a sole trader, as set out in law, are relatively straightforward and easily understandable. It is required that a sole trader should keep records of income and expenditure on a monthly basis and save all receipts and invoices. Now, this does not seem too hard does it? Yet, it is still recommended that you retain the services of a competent bookkeeper to make certain that it's all done properly. A dedicated sole trader bookkeeper in Lancing can advise you on what you're able to claim back from HMRC as business expenses. This might include rent and bills if working from home, printer ink, advertising, stationery and items such as laptops. If you'd like to get more detailed advice, and learn how your business can grow and develop moving forward, talk to your local bookkeeper.
There are certain business niches where a specialist bookkeeper may be necessary. If exchange rate transfers, cross-border and international taxes, online payment procedures and multi-currency processing are involved, for example if you manage an online store, you will be wise to hire a bookkeeper in Lancing who's familiar with these operations. If you produce or hold the goods that you distribute on that store, then it is going to be a vital concern for your bookkeeping software or services to regulate your inventory on a 24 hours a day basis, since the internet doesn't sleep.
In combination with your bookkeeping service, a remote virtual office can also be supplied. This enables a sole trader or online only business to provide a physical link with their buyers, via a telephone service and postal address. It's certainly worth discussing this possibility if it's something that could benefit you, although not all bookkeeping businesses in Lancing will provide this service.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A lot of the bookkeeping qualifications are at Diploma and Certificate level, and it's not mandatory for a certified Lancing bookkeeper to have an accounting degree. If the chosen route to qualification is through further education universities and colleges, this is still a possibility, although there there is an ever-increasing choice of online bookkeeping courses.
There are 2 main certification and training organisations which represent bookkeepers:
The AAT (Association of Accounting Technicians): Providing advanced qualifications and training, the Association of Accounting Technicians or AAT, allows fully trained members to use the letters AATQB. This then permits them to become a accredited AAT bookkeeper and assures a certain standard of service which is backed up by the organisation. If a bookkeeper who is associated with the AAT is found to have breached the code of practice or has a complaint against them, they can be liable to tribunal and disciplinary procedures to safeguard the integrity of aat membership.
The Institute of Certified Bookkeepers (ICB): The largest organisation of its kind anywhere in the world is the the Institute of Certified Bookkeepers (ICB), and it supplies accreditation to bookkeepers, along with training and reference material to ensure their members are up-to-date with the latest trends.
It's possible to check the accreditations of any Lancing bookkeeper on the register of ICB or ATT members on their respective websites. Undertaking these checks is generally advised before you actually hire any local bookkeeper in Lancing.
Bookkeeping services are available for people living in in Lancing and also in: Bramber, Shoreham-by-Sea, Broadwater, Sompting, South Lancing, Coombes, Wiston, Steyning, Washington, North Lancing, Botolphs, Findon, Goring by Sea, Worthing, Upper Beeding, as well as in these postcodes BN15 8BT, BN15 0EX, BN15 0PU, BN15 0HN, BN15 8BL, BN15 8AF, BN15 0HD, BN15 0PW, BN15 0PN, BN15 0PP. Local Lancing bookkeeper services will probably have the postcode BN15 and the phone code 01903. Checking this can ensure that you are accessing locally based bookkeepers. Lancing sole traders and business owners can benefit from these and lots of other similar services.
Bookkeeping Lancing - Outsourcing Options
All businesses in Lancing should understand the significance of bookkeeping. It helps business people monitor the money left in their bank account, their outgoings and incomings, the sum total of their liabilities and assets, and the like. With the business owner having to deal with the issues and concerns of running a business, the task of carrying out the bookkeeping is often outsourced to freelance bookkeepers or a bookkeeping company in Lancing.
If a company in Lancing 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 bookkeeping companies and professional bookkeepers in Lancing.
With the advent of new technology and the internet there is no need for business owners to stick to a freelance bookkeeper who may continue with outdated accounting practices. Again, they are not under pressure to hire and retain some in-house bookkeepers. Bookkeeping outsourcing is becoming increasingly common in the financial domain. One will find a lot many companies offering financial bookkeeping services catering to all kinds of clients and industries in Lancing. A majority of these companies promise and deliver quality service. It assumes importance for a business to look into the track record of these Lancing bookkeeping companies when it comes to hiring a third party company for bookkeeping purposes.
The business owner in Lancing 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 Lancing should have a well protected system that can be relied on and trusted.
These professional bookkeeping companies in Lancing 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.
West Sussex Bookkeeper
In the West Sussex area you'll also find: Ardingly bookkeeping services, Warnham bookkeeping, Southwick bookkeeping accountants, Tangmere bookkeepers, Thakeham bookkeepers, Southwick bookkeepers, Aldingbourne bookkeeping services, Chidham bookkeeping, Turners Hill accounts services, Rudgwick bookkeeping accountants. In every corner of West Sussex you should be able to locate bookkeepers who'll provide various services for your security requirements. If you cannot find a suitable in Lancing itself you will surely be able to uncover a good one nearby., Billingshurst bookkeepers, West Wittering bookkeeping accountants, Boxgrove bookkeeping services, Lavant accounts services, Lancing , Aldingbourne bookkeeping, Aldingbourne bookkeeper, Bersted bookkeeping, West Thorney bookkeeping accountants, Stedham , Warnham bookkeeper, Rudgwick bookkeeping services, Mid Lavant bookkeeping services, Colgate bookkeepers, Lower Beeding , Scaynes Hill bookkeeping services, Partridge Green bookkeeper, Arundel bookkeeper, Harting accounts services, Southwater
Bookkeeping Enquiries West Sussex
The latest West Sussex bookkeeping enquiries: Piper Buxton from Warnham was looking for a bookkeeper to do her Self-Assessment tax returns. Nataniel Larkin in Turners Hill was enquiring about a bookkeeper to do his Self-Assessment tax returns. Leia Graham in Haywards Heath was enquiring about a bookkeeper for her internet sales business. Baxter Kane from Thakeham, West Sussex was trying to find a bookkeeper for his construction firm. Harlow Burge from Coldwaltham, West Sussex was searching for a bookkeeper for her fashion company. Aqsa Corbett in Worth, West Sussex was enquiring about bookkeeping for her hairdressing business. Carla Brunet from West Hoathly was looking for bookkeeping services for her salsa dance business. Rory Heywood from Westbourne was searching for bookkeeping services for his football club. All these local clients conducted a search for "Bookkeepers West Sussex" and discovered this webpage on either Bing, Google or Yahoo.
Lancing Bookkeeper Tasks
Most bookkeepers in Lancing will be willing to provide you with the following services: cash books, bookkeeping services for limited companies in Lancing, personal tax returns Lancing, mobile bookkeeping services, bookkeeping for small business, landlord bookkeeping Lancing, maintaining fixed asset registers in Lancing, bookkeeping for pubs in Lancing, bookkeeping services Lancing, tax returns, wages & PAYE Lancing, bookkeeping for freelancers Lancing, VAT returns in Lancing, Self-Assessment tax returns, bookkeeping for startups, bookkeeping for societies, bookkeeping services for sole traders, management reports, QUOTE FORM provided. We will get back to you with information just as soon as we can.in Lancing, payment services, bank reconciliation, independent bookkeeping services, bookkeeping for home-based businesses, accounting and bookkeeping services in Lancing, double-entry bookkeeping Lancing, profit & loss reports Lancing, bookkeeping and accounting, bookkeeping services for retail outlets, bookkeeping for restaurants, bookkeeping for organisations, and more. These are just an example of the activities that are conducted by local bookkeepers. Lancing companies will inform you of their whole range of bookkeeping services. If there are other Lancing bookkeeper requirements that you want but can't see here, you can mention them on the
Bookkeepers Near Lancing
Also here.: Botolphs bookkeepers, Findon bookkeepers, Upper Beeding bookkeepers, Coombes bookkeepers, Goring by Sea bookkeepers, Wiston bookkeepers, Sompting bookkeepers, South Lancing bookkeepers, Washington bookkeepers, Steyning bookkeepers, Broadwater bookkeepers, Shoreham-by-Sea bookkeepers, North Lancing bookkeepers, Worthing bookkeepers, Bramber and more. All these towns and villages are served by local bookeepers. Lancing businesses and traders can get fees for bookkeeping services by going
- Lancing Bank Reconciliations
- Lancing Credit Control
- Lancing Tax Returns
- Lancing Double-Entry Bookkeeping
- Lancing Bookkeeping Services
- Lancing Profit and Loss Reports
- Lancing Sole Trader Bookkeeping
- Lancing PAYE and Wages
- Lancing Self-Assessment Bookkeeping
- Lancing Cheap Bookkeeping
- Lancing VAT Returns
- Lancing Small Business Bookkeeping
- Lancing Payroll Services
- Lancing Tax Preparation
Bookkeepers Around Lancing: People living in these local Lancing roads and streets have just recently enquired about bookkeeping services - West Way, Heyshott Close, Fourth Avenue, Boxgrove Close, Grinstead Lane, Eighth Avenue, Browning Road, Craven Court, Burrell Avenue, Derek Road, Drakes Close, Elm Grove, Brierley Gardens, Winston Road, Prince Avenue, The Saltings, Yew Tree Close, Shadwells Road, Hadlow Way, Links Road, New Salts Farm Road, The Grovelands, Nursery Close, The Close, Freshfields Close, Seaside Road, Monks Close, Hurstfield, Milton Close, Culver Road, as well as the following Lancing area postcodes: BN15 8BT, BN15 0EX, BN15 0PU, BN15 0HN, BN15 8BL, BN15 8AF, BN15 0HD, BN15 0PW, BN15 0PN, BN15 0PP.
More Lancing Services: Not surprisingly, when you're in need of a bookkeeper in Lancing, West Sussex, you'll probably need all kinds of different services and aside from Ecommerce assistance in Lancing, financial advice in Lancing, a marketing agency in Lancing, telephone system services in Lancing, EPOS in Lancing, business consulting in Lancing, an accountant in Lancing, network, database & IT support in Lancing, social media marketing in Lancing, promotional video production in Lancing, web design in Lancing, telemarketing in Lancing, pay per click advertising in Lancing, hosting & cloud services in Lancing, card processing in Lancing, HR consulting in Lancing, digital marketing services in Lancing, and other different Lancing specialists.in Lancing, West Sussex, you might also need
More West Sussex Bookkeepers: More Hurstpierpoint, Bognor Regis, Chichester, Southwater, Southwick, Horsham, Crawley, Burgess Hill, Worthing, Shoreham-by-Sea, Littlehampton, Haywards Heath, Lancing, Rustington and East Grinstead.:
Lancing Bookkeeping Jobs: Get bookkeeping jobs near Lancing by clicking here: Bookkeeping Jobs Lancing
For local information on Lancing, West Sussex look here
Bookkeepers in BN15 area, phone code 01903.
01903 - Small Business Bookkeepers Lancing - Self-Assessment Tax Returns Lancing - VAT Returns Lancing - Bookkeepers Lancing - Bookkeeping Lancing - Cheap Bookkeeping Lancing - BN15 - Sole Trader Bookkeepers Lancing