Bookkeepers Lewes East Sussex (BN7): Regardless of whether you run a small business, operate an online store or are a sole trader in Lewes, you're responsible for keeping accurate, "true and fair" accounting and financial records for at least six years as stated by the Companies Act (2006). Failure to produce these records may leave you facing disqualification as a Company Director, as well as a fine of thousands of pounds. There is a considerable time investment involved with preparing such financial records on your own behalf, and it can pay to use a professional accountant or bookkeeping service, as according to Accounting Today magazine over forty percent of small business owners spend eighty hours plus per year on their accounts.
It's high time to contact a bookkeeper in Lewes for help and advice, if the thought of preparing profit, loss and financial statements, producing balance sheets, writing out ledgers or tracking assets and liabilities brings you feelings of terror.
BOOKKEEPER OR ACCOUNTANT?
A common query that is asked by most business owners in Lewes is "What is the distinction between an accountant and a bookkeeper?" The fact is, because of software improvements over the past decade many accountancy firms in the Lewes area will undertake the task of bookkeeping, which was at one time looked at as beneath their qualifications, experience and skill set. It's quite common for accounting companies to have a set rate for bookkeeping services based on a dedicated bookkeeper's fee. Business owners in Lewes are now cashing in on this, as it offers a wider range of competition within the marketplace and can mean that the cost of bookkeeping is much more affordable than it would previously have been.
The biggest difference of an accountant over a bookkeeper is the level of qualification and training required. At least a degree in accounting with additional training in the field of taxes and other fiscal and business management, will normally be held by an accountant. Whilst not necessarily having this level of experience and training, or holding the same financial qualifications, a bookkeeper in Lewes will undoubtedly have a fair grasp of all these disciplines.
RESPONSIBILITIES OF A BOOKKEEPER IN LEWES
In simple terms, the process of bookkeeping is to record the daily transactions (financial) of any business or enterprise in Lewes. This is likely to include, but is by no means limited to;
- Highlighting and rectifying any discrepancies in the financial accounts.
- Logging the receipt of invoices and ensuring payment is completed punctually.
- Making sure that double-entry bookkeeping and accounting practices are followed at all times.
- Recording of all financial incomings; including cash, card and electronic payments.
- Payroll services.
- VAT recording and submissions.
- Billing of customers for work completed or goods.
- Monthly reconciliation and reports.
Dependant upon the level of service you need, e.g. you are able to carry out the larger part of bookkeeping work; a professional bookkeeper may only be needed to double check your accounts on a fixed schedule. As a bare minimum this should be done monthly, to enable the rapid identification and rectification of any mistakes or problems. If you're confident of staying on top of your day by day trading and financial transactions, this compromise can often be the most cost effective.
Whatever your scenario, if you are seriously considering hiring a bookkeeper it is fairly likely that you may be getting stressed about the financial recording aspects of your small business in Lewes. To enable the seamless pull-through of financial data, a decent bookkeeping service will help you to link the most up-to-date computer software to your business accounts, and will provide advice on stuff like stocktaking, invoicing and producing expense reports.
An extremely crucial element of a good bookkeeper is being able to reconcile accounts payable with cash flow. Which means that rather than waiting for a final notice, which many small businesses are guilty of, or paying an outstanding bill right away, your bookkeeper will schedule the payment of bills to a time when your accounts are in good shape. This not only keeps your business enterprise financially secure, but keeps you in good stead with suppliers and the businesses who provide you with services. Regrettably, this is just one of those juggling acts that can be hard to perform when you are inevitably focussed on the smooth running of your everyday business activities.
For your small business, or if you're a sole trader, using a professional bookkeeper in Lewes, gives you the opportunity to have an independent eye cast over your financies. Business patterns and trends that might have otherwise gone unnoticed may be highlighted by this kind of dispassionate evaluation. A situation where a keen eyed bookkeeper flags an area which is plummeting in profits, or identifies a new opportunity that may be lucrative, is by no means an uncommon occurrence. These key performance indicators (KPI's) are crucial in driving growth for any small business in Lewes.
If invoices are sent out by your company it can often be uncomfortable to chase up a late payment. Some of that apprehension can be taken away by having someone outside your business situation make that phone call or visit to your clients. There are legal techniques that a bookkeeper can make use of, if you have problems with a consistent late or non-payer, and they can help to clear up the situation before the matter winds up in a small claims court.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The requirements for bookkeeping by a sole trader, as laid out by law, are comparatively straightforward and easily understandable. This involves retaining all invoices and receipts in relation to the business, and keeping a record of expenditure and income on a monthly basis. It is still recommended that you retain the expert services of a bookkeeping company, even if this may sound simple enough. Offering advice on what valid business expenses you may be able to claim back, a dedicated sole trader bookkeeper in Lewes will look after your dealings with HMRC. This may include stationery, bills and rent if working from home, items such as laptops, promotional advertising and printer ink. For more comprehensive advice, chat to your local bookkeeper, and learn how they might help your business to flourish and grow going forward.
Some small businesses that work in niche areas, may need to use a specialised bookkeeper. If exchange rate transfers, multi-currency processing, international and cross-border taxes and online payment procedures are involved, for instance if you operate an online store, you'll need a bookkeeper in Lewes who understands these practices. If that same shop sells goods that you produce or hold, then overseeing your inventory and stock on a 24/7 basis is a crucial concern, as I'm sure you'll be aware the internet never sleeps, so neither should your bookkeeping software or services.
It is also possible to establish a virtual office, that can be utilised in conjunction with your bookkeeping service. This enables an online only business or sole trader to provide a physical connection to their clients, via a postal address and phone service. Not all Lewes bookkeeping businesses will be in a position to supply this solution, but it's worthwhile talking about if it's something that could be of benefit.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the bookkeeping qualifications are at Certificate and Diploma level, and it is not necessary for a certified bookkeeper in Lewes to have an accounting degree. If the preferred route to qualification is via further education universities and colleges, this is still a possibility, whereas there there are a array of bookkeeping courses available online.
Training and certification for bookkeepers is mainly provided by two organisations:
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 provides accreditation to qualified bookkeepers, together with reference material and training to ensure their members are up-to-date with the latest trends.
The AAT or Association of Accounting Technicians: Providing advanced qualifications and training, the AAT or Association of Accounting Technicians, entitles a fully trained bookkeeper to use the letters AATQB. They are then allowed to become registered AAT bookkeepers, which assures their clients a minimum standard of service which is backed up by the association. To preserve the integrity and values of the AAT, an AAT bookkeeper 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 practice.
By visiting their respective websites, it is possible to verify the qualifications of any Lewes bookkeeper on the register of ICB or AAT members. It is advisable to perform this check, before you employ any bookkeeper in Lewes.
Bookkeeping services are available in Lewes and also in nearby places like: Cooksbridge, Sout, Ovingdean, Glynde, Laughton, Southerham, Stoneham, Woodingdean, Southease, Glyndebourne, Isfield, Falmer, Offham, Barcombe, Wallands Park, South Malling, together with these postcodes BN7 1HG, BN7 1HN, BN7 1PY, BN7 1AJ, BN7 1NP, BN7 1HR, BN7 1LT, BN7 1DX, BN7 1LH, BN7 1QD. Locally based Lewes Bookkeepers will most likely have the telephone dialling code 01273 and the postcode BN7. Checking this out can confirm that you are accessing locally based bookkeepers. Lewes sole traders and business owners can utilise these and lots of other related services.
Outsourced Bookkeeping Lewes
All businesses in Lewes should understand the significance of bookkeeping. It helps business people monitor the total value of their assets and liabilities, their outgoings and incomings, the money left in the bank, and so on. With the owner of the business having to handle the issues and concerns of operating a business, the task of undertaking the bookkeeping is sometimes outsourced to freelance bookkeepers or a bookkeeping company in Lewes.
If a company in Lewes employs a bookkeeper in order to join their ranks, the company will need to pay out a substantial sum of money in training the person for the purpose of carrying out the bookkeeping work. In addition to that, there's no guarantee that the person will stay for long in the company. In circumstances like that, the company will have thrown away a considerable amount of money for very little return. Aside from that, firms will have to look for solutions to offer incentives and benefits to keep the fully trained employee in place. These are just a taste of the reasons behind companies enlisting the services of bookkeeping companies and professional bookkeepers in Lewes.
These professional bookkeeping companies in Lewes 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.
Franchise bookkeeping Lewes.
Lewes Bookkeeper Questions
A couple of months ago I was having a good look at the popular questions that people ask in relation to bookkeeping in Lewes. A couple of our visitors have submitted noteworthy questions that I considered to be worthy of mentioning here. The most appropriate ones appeared to be, Do bookkeepers use quickbooks? What are the advantages of an accountant over a bookkeeper? When should I outsource bookkeeping? Does a bookkeeper need to be registered? What makes a good bookkeeper? Can a bookkeeper be held liable? Why choose a bookkeeper in Lewes? How much do bookkeeping services cost? How is bookkeeping differentiated to accounting? Most of these questions hopefully have been answered on this page, and if that is not the case a bookkeeping "Questions and Answers" section is the next thing to be implemented. Our appreciation goes out to these folks in Lewes for finding the time to put their questions; Rayan Stevens, Harri Porter, Loki Kirk and Laila Warner. It was also nice to get offerings from Morgan Hogg in Southease, Gabriel Power in South Malling and Jocelyn Brewer in Glyndebourne.
Lewes Bookkeeper Tasks
Most bookkeepers in Lewes will be ready to provide you with the following bookkeeping and accounting services: bookkeeping services for organisations Lewes, accounting and bookkeeping, bank reconciliations Lewes, bookkeeping services for societies, bookkeeping estimates, mobile bookkeeping services, bookkeeping services for startups, charity bookkeeping Lewes, bookkeeping services for tradesmen, profit & loss reports in Lewes, bookkeeping services for limited companies, letting agent bookkeeping Lewes, bookkeeping for charities Lewes, bookkeeping services for sole traders Lewes, partnership returns, QUOTE FORM provided. We'll be in touch with specifics just as soon as we can.in Lewes, Self-Assessment tax returns Lewes, payroll bookkeeping Lewes, VAT returns, bookkeeping services for freelancers, accounting and bookkeeping services Lewes, cash flow analysis, in Lewes, Xero bookkeeping services, in Lewes, Lewes, tax return preparation, bookkeeping for small businesses, and more. These are just a selection of the duties that are handled by local bookkeepers. Lewes providers will inform you of their entire range of services. If there are additional Lewes bookkeeper requirements that you need but don't see here, you should list them on the
East Sussex Bookkeeping Enquiries
The latest East Sussex bookkeeping enquiries: Ianis Collett from Pevensey Bay, East Sussex was asking about a bookkeeper for his book club. Craig Harrington in Herstmonceux asked the question "are there any trustworthy?". Niamh Brooke in Kingston Near Lewes, East Sussex was looking for a bookkeeper for her fashion company. Stanley Watson from Crowhurst was enquiring about bookkeeping services for his football club. Gracie Moran from Hellingly was trying to find bookkeeping for her internet sales business. Will Mcintosh from Peasmarsh was asking about a bookkeeper for his sports shop. Damien Parnell from Broyle Side was interested in bookkeeping services for his plastering business. Tallulah Reyes was trying to find Groombridge, East Sussex. These local people searched for "Bookkeepers East Sussex" and located this website on Google, Bing or Yahoo.
Bookkeepers Near Lewes
Also here.: South Malling bookkeepers, Offham bookkeepers, Sout bookkeepers, Southease bookkeepers, Laughton bookkeepers, Barcombe bookkeepers, Isfield bookkeepers, Ovingdean bookkeepers, Glynde bookkeepers, Cooksbridge bookkeepers, Wallands Park bookkeepers, Southerham bookkeepers, Falmer bookkeepers, Woodingdean bookkeepers, Glyndebourne bookkeepers, Stoneham and more. All of these areas are served by local bookeepers. Lewes businesses and traders can get rates for bookkeeping services by going
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Bookkeepers Around Lewes: People who live in these local Lewes roads and areas have just recently requested bookkeeping services - Southover High Street, Downside, Court Road, Beggars Wood Lane, Broomans Lane, Deanland Road, St Pancras Gardens, Springett Cottages, Shepherds Close, Clare Road, Beddingham Gardens, Sheepfair, Allington Crescent, Banks Road, Southdowns, Chamberlaines Lane, Ashtonville Close, St Anthonys, Downsview Cottages, Turnpike Close, Downs View Close, Swan Close, Cricketfield, South Rough, Ashurst Lane, School Hill, Brickhurst Lane, St Martins Lane, as well as the following Lewes area postcodes: BN7 1HG, BN7 1HN, BN7 1PY, BN7 1AJ, BN7 1NP, BN7 1HR, BN7 1LT, BN7 1DX, BN7 1LH, BN7 1QD.
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More East Sussex Bookkeepers: More Polegate, Telscombe, Heathfield, Rye, Eastbourne, Bexhill-on-Sea, Seaford, Hailsham, Westham, Newhaven, Hastings, Brighton, Hove, Willingdon, Ore, Uckfield, Lewes, Portslade, Peacehaven, Ringmer, Forest Row, Wadhurst, Crowborough and Battle.:
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Bookkeepers in BN7 area, telephone code 01273.
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