Bookkeepers Leicester Leicestershire (LE1): According to the Companies Act (2006), if you own a small business, run an online store or are a sole trader in Leicester, you're entirely responsible for keeping "true and fair", accurate accounting and financial records for at least 6 years. You could face a fine of thousands of pounds, and possibly disqualification as a Company Director, if you're unable to produce this information. It can be more economical to employ a professional accountant or bookkeeping service to accomplish this for you, given that according to Accounting Today magazine over 40% of small businesses spend at least 80 hours each year doing their bookkeeping tasks, which is a significant investment of time, and may be better spent on your core business activities.
The time has come to get in touch with a bookkeeper in Leicester for guidance and advice, if you're filled with a sense of dread simply thinking about the possiblility of tracking liabilities and assets, filling out ledgers, compiling balance sheets or preparing profit, loss and financial statements.
BOOKKEEPER OR ACCOUNTANT?
Exactly what is the distinction between a bookkeeper and an accountant is the first question that a lot of people in Leicester ask. The fact is, due to software improvements over the past decade or so many accountants in Leicester will undertake bookkeeping, which at one time was considered to be beneath their skill set, experience and qualifications. To ensure their bookkeeping services are consistent with a dedicated bookkeeper's fee, it's now common practice for accounting firms to charge a fixed rate for these services. This means that the cost of bookkeeping is cheaper than it was previously, and is excellent news for small business owners in Leicester since it offers a wider variety of competition within the marketplace.
The level of qualification and training required is the big difference between an accountant and a bookkeeper. An accountant will generally hold at least an accounting degree with further training in the field of taxes and other business and financial management. A bookkeeper in Leicester may not necessarily have the same levels of training and experience, or hold these qualifications, but should still have a fair grasp of such skills.
RESPONSIBILITIES OF A BOOKKEEPER IN LEICESTER
Basically, the bookkeeping process is the recording of the day by day transactions (financial) of any business enterprise in Leicester. This can include;
- Payroll services.
- Billing of customers for goods or work completed.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Recording of all financial incomings; electronic, card and cash payments included.
- Recording invoices received and making certain that payment is completed promptly.
- VAT submissions and recording.
- Monthly reports and reconciliations.
- Making sure that double-entry bookkeeping and accounting practices are observed.
While it is dependent on the kind of service you're looking for, if you are in a position to do a large majority of the bookkeeping work yourself, a professional bookkeeper might only be needed to periodically double-check your accounts. To enable any mistakes or problems to be identified and amended quickly, this ought to be on a monthly basis as a bare minimum. If you're confident of staying in control of your daily financial transactions and trading, this trade-off can often be the most economical solution.
It is a good bet that if you're looking to hire a bookkeeping company in Leicester, you are currently stressed with the financial recording side of your small business. To facilitate the seamless processing of financial data, a decent bookkeeping company will help you to link the latest software to your business accounts, and will give assistance with stuff like stocktaking, invoicing and preparing expense reports.
An especially important element of a good bookkeeper is the ability to reconcile accounts payable with cash flow. This means that by arranging the payment of bills to a time when your finances are in good shape and buoyant, your bookkeeper will avoid the thing that most small businesses in Leicester are guilty of i.e. paying an outstanding bill right away, or waiting on an overdue notice. This does not just keep your business or enterprise on a sound financial footing, but keeps you in favour with suppliers and those businesses who provide you with services. When, as an individual, you're mostly focussed on the smooth running of your business, this can be a juggling act that's hard to accomplish.
For your small business enterprise, or if you're a sole trader, employing an experienced bookkeeper in Leicester, gives you the chance to have an unbiased eye cast over your financies. Business trends and patterns that you may have overlooked could be highlighted by this kind of independent evaluation. A situation where an intelligent bookkeeper flags an area where profits are dropping, or spots a new opportunity which could prove worthwhile, is not at all an unusual occurrence. For the growth and success of any business in Leicester, it is crucial that such KPI's (key performance indicators) are spotted early on.
Having to pursue a late payment can be an humiliating scenario for you, if you give out invoices in your business operations. Some of that embarrassment can be removed by having a person outside your normal business situation visit your customer or make that telephone call. A professional bookkeeper can use legal procedures to take care of a repeating late or non-payer, and without having to resort to a claims court proceeding, help to resolve the situation.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you're a sole trader the requirements for bookkeeping, as laid out by law, start off comparatively straightforward. It's stipulated that a sole trader should keep a record of expenditure and income on a monthly basis and keep all receipts and invoices. Now, this doesn't sound too tough does it? However, it is still recommended that you hire the expert services of a competent bookkeeper to make certain that it is all done properly. So that you'll be able to claim back any genuine business expenses from HMRC, a dedicated sole trader bookkeeper in Leicester will be happy to advise you on what you need to do. This could include stationery, advertising, bills and rent if working from home, items such as laptops and consumables. Speak to a trusted bookkeeper for more comprehensive advice and see how they may be able to help your small business grow.
There are several business niches where a specialist bookkeeping service may be needed. You will require a bookkeeper in Leicester who understands online payments, exchange rate transfers, multi-currency processing and international and cross-border taxes, if you manage an online store for example. If that same shop sells goods you produce or hold, then overseeing stock on a 24 hours a day basis is a huge priority, after all the internet doesn't sleep, so neither should your bookkeeping software or services.
In combination with bookkeeping service, it's also possible to provide a virtual office. Providing a physical connection to their customers, this enables an online only business or sole trader to have a telephone service and postal address. Although this option may not be offered by all bookkeepers in Leicester, it is certainly worth talking about the possibilities if this is something that's required.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the field of bookkeeping are at Certificate and Diploma level, and a certified bookkeeper in Leicester needn't hold a degree. Although there's an ever-increasing variety of online courses available, bookkeeping qualifications can still be gained via further education universities and colleges, if that is the preferred route.
There are basically 2 primary organisations that offer training and certification to bookkeepers:
The Institute of Certified Bookkeepers or ICB: The largest organisation of its kind on the planet is the the Institute of Certified Bookkeepers or ICB, and it offers accreditation to certified bookkeepers, together with reference material and training to ensure their members are informed about the latest trends.
The AAT (Association of Accounting Technicians): With certified members being able to use the letters AATQB, the Association of Accounting Technicians (AAT) provides advanced qualifications and a training schedule. This promises a certain standard of service to their clients which is backed up by the organisation, and enables them to become a accredited AAT bookkeeper. Bookkeepers who are associated with the AAT can can be subject to disciplinary and tribunal processes if they have a complaint filed against them or are found to have contravened the code of conduct. This helps to protect the integrity of AAT membership.
By visiting their websites, it is possible to inspect the register of AAT or ICB members, to verify the accreditations of any bookkeeper in Leicester. Before you hire the services of any bookkeeper in Leicester it's advisable to carry out this check.
Bookkeeping services are available in Leicester and also nearby in: Beaumont Leys, Spinney Hills, Dane Hills, Birstall and Thurmarston, Newtown Linford, Clarendon Park, Knighton, Ingarsby, Belgrave, Botcheston, South Croxton, Barkby Thorpe, Humberstone, Keyham, Evington, Beeby, together with these postcodes LE1 1LH, LE1 1AF, LE1 1AD, LE1 2JN, LE1 1QH, LE1 1ZX, LE1 1WJ, LE1 1DJ, LE1 1TH, LE1 3BE. Local Leicester Bookkeepers will probably have the telephone code 0116 and the postcode LE1. Verifying this should ensure that you're accessing local bookkeepers. Leicester sole traders and business owners are able to utilise these and countless other bookkeeping related services.
Outsourced Bookkeeping Leicester
All businesses in Leicester should understand the significance of bookkeeping. It helps business people monitor their outgoings and incomings, the money left in their bank account, the total value of their liabilities and assets, and so forth. With the business owner having to contend with the issues and concerns of running a business, the task of performing the bookkeeping is sometimes outsourced to freelance bookkeepers or a bookkeeping company in Leicester.
If a company in Leicester employs a bookkeeper in order to join their ranks, the company will be required to pay out a considerable amount of money in training that person for the purpose of working on the bookkeeping tasks. In addition, there's no guarantee that the individual will stay for long in the company. In those circumstances, the company stands to lose a considerable sum of money for very little return. Besides that, businesses will need to seek out ways and means to provide benefits and incentives to keep the fully trained employee within the business. These are just some of the reasons behind business organisations enlisting the services of bookkeeping companies and professional bookkeepers in Leicester.
With the advent of new technology 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 Leicester. A majority of these companies promise and deliver quality service. It assumes importance for a business to look into the track record of these Leicester bookkeeping companies when it comes to hiring a third party company for bookkeeping purposes.
Franchise bookkeeping Leicester.
Leicester Bookkeeper Tasks
Most bookkeepers in Leicester will be prepared to offer you the following services: independent bookkeeping services, accounting and bookkeeping services in Leicester, management reports, charity bookkeeping Leicester, bookkeeping for tradesmen Leicester, corporation tax returns, accountancy packages, bookkeeping services for pubs, bookkeeping for limited companies, professional bookkeeping services in Leicester, general bookkeeping services, Sage bookkeeping services in Leicester, bookkeeping for payroll in Leicester, bookkeeping services for organisations, bank reconciliation, bookkeeping for societies, bookkeeping for small business, tax preparation in Leicester, off-site bookkeeping services, bookkeeping prices, bookkeeping services, bookkeeping services for self-employed people, landlord bookkeeping Leicester, tax returns, company cash books, partnership returns, PAYE & wages, bookkeeping for clubs in Leicester, and more. Listed are just a handful of the tasks that are conducted by local bookkeepers. Leicester companies will tell you about their full range of bookkeeping services. If there happen to be additional Leicester bookkeeper requirements that you need but can't see here, you can mention them on the QUOTE FORM provided. We'll get back to you with details just as soon as we can.
Leicestershire Bookkeeping Enquiries
Latest Leicestershire bookkeeping enquiries: Aurelia Stenhouse from Long Whatton was searching forfor her tea shop. Andy Stainton in Newtown Linford was asking about a bookkeeper for his sports clothing shop. Kristina Groves from Glenfields was interested in bookkeeping services for her nail salon. Judah Dwyer from Cropston, Leicestershire was asking about bookkeeping for his online business. Patrick Wharton was in need of for his online marketing business in Breedon on the Hill, Leicestershire. Steffan Barnett in Glenfields, Leicestershire was looking for bookkeeping for his book club. Rafael Welch in Leicester Forest East was searching for bookkeeping for his building firm. Joseph Pond from Waltham on the Wolds was trying to find a bookkeeper for his basketball club. These local people did a search for "Bookkeepers Leicestershire" and discovered this website on Bing, Yahoo or Google.
Bookkeepers Near Leicester
Also here.: South Croxton bookkeepers, Evington bookkeepers, Newtown Linford bookkeepers, Clarendon Park bookkeepers, Beeby bookkeepers, Barkby Thorpe bookkeepers, Belgrave bookkeepers, Beaumont Leys bookkeepers, Dane Hills bookkeepers, Botcheston bookkeepers, Humberstone bookkeepers, Keyham bookkeepers, Birstall and Thurmarston bookkeepers, Knighton bookkeepers, Ingarsby bookkeepers, Spinney Hills and more. All these locations are served by local bookeepers. Leicester residents can get quotes for bookkeeping services by going
- Leicester Bookkeeping Quotations
- Leicester Small Business Bookkeeping
- Leicester Credit Control
- Leicester Sole Trader Bookkeeping
- Leicester Cash Flow Analysis
- Leicester PAYE Wages and CIS
- Leicester Invoice Processing
- Leicester Self-Assessment Bookkeeping
- Leicester Tax Preparation
- Leicester Bookkeeping Services
- Leicester VAT Returns
- Leicester Profit and Loss Analysis
- Leicester Cheap Bookkeeping
- Leicester Payroll Services
More Leicester Services: Needless to say, whenever you're in need of a bookkeeper in Leicester, Leicestershire, you will likely need all types of different services and aside from network, database & IT support in Leicester, PPC advertising in Leicester, EPOS in Leicester, Ecommerce in Leicester, social media marketing in Leicester, financial advice in Leicester, business consulting in Leicester, website design in Leicester, a marketing agency in Leicester, card processing in Leicester, telephone system services in Leicester, HR consulting in Leicester, telemarketing in Leicester, cloud & hosting services in Leicester, promotional video production in Leicester, an accountant in Leicester, digital marketing services in Leicester, and other different Leicester specialists.in Leicester, Leicestershire, you might additionally need
Bookkeepers Around Leicester: People who live in these nearby Leicester areas and roads have recently requested bookkeeping services - Cambrian Close, Barley Way, Shirley Drive, Three Turns Lane, Samphire Close, Chaffinch Close, The Stiles, Dawlish Close, The Newarke, Dobney Avenue, Thurcaston Road, Alan Close, Tilbury Crescent, Arden Avenue, Thorndale Road, Central Close, Battersbee Road, Dannett Street, Barbara Avenue, Carrs Drive, Archers Lane, Bateman Road, Bennetts Lane, The Plantation, Ashlyns Rise, Barling Road, Baggrave Street, Carter Street, Amhurst Close, The Dicken, as well as these Leicester area postcodes: LE1 1LH, LE1 1AF, LE1 1AD, LE1 2JN, LE1 1QH, LE1 1ZX, LE1 1WJ, LE1 1DJ, LE1 1TH, LE1 3BE.
Bookkeeping Jobs Leicester: Find bookkeeping jobs near Leicester by going here: Leicester Bookkeeping Jobs
If you want local Leicester information take a look here
Bookkeepers in LE1 area, (dialling code 0116).
Bookkeeping Services Leicester - Bookkeeper Leicester - Small Business Bookkeepers Leicester - Bookkeeping Accountants Leicester - Bookkeeping Leicester - Sole Trader Bookkeepers Leicester - Self-Assessment Tax Returns Leicester - Bookkeepers Leicester - Bookkeeping Quotes Leicester