Bookkeepers Lisburn Northern Ireland (BT27): In compliance with the Companies Act, if you are a sole trader, own a small business or operate an online store in Lisburn, you are responsible for maintaining "true and fair", accurate financial and accounting records for a minimum of 6 yrs. If you're unable to produce such records you may face thousands of pounds in fines and possibly disqualification as a Company Director. It can pay you to employ a professional accountant or bookkeeper to undertake this for you, given that according to Accounting Today over 40% of small business owners spend 80 plus hours annually on their bookkeeping, which is a considerable time investment, and might be better spent on your core business activities.
If you are filled with dread just thinking about writing out ledgers, preparing profit, loss and financial statements, producing balance sheets or tracking assets and liabilities, then the time to contact a bookkeeper in Lisburn for assistance has arrived.
BOOKKEEPER OR ACCOUNTANT?
What is the distinction between an accountant and a bookkeeper is the first question that springs to mind for a lot of people in Lisburn. In the old days it was generally regarded as to be beneath the skill-sets, qualifications and experience of an accountant to do the work of a bookkeper, however because of improvements in software over the past decade, many bookkeeping tasks will now be taken on by accounting firms in Lisburn. A lot of accounting companies now have a fixed fee for bookkeeping services, to keep them consistent with what a dedicated bookkeeper in Lisburn would routinely charge. Business owners are now benefiting from this, because it gives a wider variety of competition within this sector and can mean that the cost of bookkeeping is way more manageable than it would have been in the past.
When looking at the biggest difference between an accountant and a bookkeeper in Lisburn, it's the standard of qualification and training that's needed for each of these disciplines. An accountant will, at the very least, hold an accounting degree, and will have also had further training in financial and business management, and taxes. While likely not holding the same financial qualifications, or having this level of training and experience, a bookkeeper in Lisburn will still have an understanding of all these skills.
A BOOKKEEPER'S RESPONSIBILITIES
Put simply, the act of bookkeeping is the recording of the day to day monetary transactions of any business enterprise in Lisburn. This may include;
- VAT recording and submissions.
- Recording of all financial incomings; electronic, card and cash payments included.
- Ensuring double-entry bookkeeping and accounting practices are followed at all times.
- Recording invoices received and ensuring payment is completed on time.
- Payroll services.
- Monthly reconciliations and reports.
- The billing of customers for goods or work completed.
- Highlighting and rectifying any discrepancies in financial accounts.
If you are prepared to undertake the vast majority of your bookkeeping work yourself; a professional bookkeeper might only be necessary for double-checking your figures every once in a while. To ensure that any problems or mistakes can be identified and amended quickly, as a bare minimum, this should be done on a monthly basis. If it's possible to stay in control of your day to day trading and financial transactions, this trade-off can sometimes be the most affordable option.
Whatever your current situation is, if you are seriously looking to hire a bookkeeper it is fairly likely that you may be stressed with the financial recording aspects of your business in Lisburn. A professional bookkeeping service will help you out with everything from invoicing, stocktaking and producing expense reports, to linking your accounts with the latest software application to enable the seamless processing of your transaction data.
An extremely crucial element of a good bookkeeper is being able to reconcile cash flow with accounts payable. Which means that by optimising bill payments to a time when your accounts are in the best possible position, your bookkeeper will avoid the thing that most small businesses are guilty of doing i.e. paying a bill right away, or waiting on a final notice. This does not just keep your business enterprise financially stable, but keeps you in the good books of suppliers and those businesses who supply services to you. When, as an individual, you are firmly focussed on running your day to day business activities, this is a juggling act that can be difficult to perform.
If you are a sole trader, or operate a small business, using a professional bookkeeper in Lisburn, also gives them the chance to cast a critical eye over the operation of your business. This dispassionate evaluation can allow them to see business trends and patterns that you may have disregarded. It is by no means unusual for a clever bookkeeper to flag up an area of the business where profits are falling, or spot a brand new opportunity which could prove lucrative. It's vital for driving the growth of any business enterprise in Lisburn, to spot such key performance indicators (KPI's).
Having to pursue late payments can be an awkward scenario for you, if you send out invoices in your business operations. Having a person from outside your business situation, can take the embarrassment away from visiting your customers or making that telephone call. There are legal options that a bookkeeper can make use of, if you've got problems with a persistent late or non-payer, and these can help to resolve the issue before the situation ends up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you're a sole trader the bookkeeping requirements, as set out in law, are comparatively straightforward. This involves keeping all receipts and invoices concerning the business, and tracking income and expenditure from month to month. Even though this may initially sound fairly easy, hiring the expert services of a bookkeeping company is still advisable. So that you can claim back legitimate business expenses from HMRC, a specialist sole trader bookkeeper in Lisburn can give you advice on what you need to do. This may include printer ink, advertising, rent and bills if you work from home, items such as laptops and stationery. If you would like to get more comprehensive advice, and discover how your small business can grow in the future, speak to a trusted bookkeeper.
There are a number of niche businesses where a specialist bookkeeper may be needed. For instance, if you run a store online, you'll be better off employing a bookkeeper in Lisburn who is familiar with international and cross-border taxes, exchange rate transfers, online payment procedures and multi-currency processing. Supervising inventory on a 24/7 basis is also a major concern, if that same outlet sells goods that you produce or hold, as I'm sure you will appreciate the internet doesn't sleep, so nor should your bookkeeping services and software.
It is also possible to establish a virtual office, which can be used together with your bookkeeping package. This is handy in allowing an online only business or sole trader to have a telephone service and postal address to offer a physical connection to their client base. Not all Lisburn bookkeeping companies will supply this solution, however it's worth discussing if it's required.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the bookkeeping qualifications are at Diploma or Certificate level, and it's not necessary for a professional Lisburn bookkeeper to hold a degree in accounting. Qualifications can be gained through further education universities and colleges but there are also an ever-increasing selection of courses available online.
To provide training and certification for bookkeepers, there are basically two main organisations of interest:
The Association of Accounting Technicians or AAT: The Association of Accounting Technicians or AAT provides a training schedule with advanced qualifications allowing fully trained bookkeepers to use the letters AATQB after their name. This then entitles them to become a registered AAT bookkeeper and assures a decent level of service which is backed by the organisation. Bookkeepers who are members of the AAT can can be subject to disciplinary and tribunal procedures if they have a complaint filed against them or are found to have contravened the code of conduct. This helps to preserve the values and integrity of the AAT.
The Institute of Certified Bookkeepers (ICB): The largest organisation in the world is the the Institute of Certified Bookkeepers (ICB), and it supplies certification for bookkeepers, in addition to reference material and training to keep their members up-to-date with the latest trends and innovations.
You are able to check the qualifications of any Lisburn bookkeeper on the register of AAT or ICB members on their websites. It is advisable to implement this check, before retaining the services of any bookkeeper in Lisburn.
Bookkeeping services are available for those living in in Lisburn and also in: Blackskull, Moira, Glenavy, Upper Ballinderry, Dunmurry, Crumlin, Drumbo, Finaghy, Hillsborough, Ballynahinch, Saintfield, Waringsford, Mazetown, Carryduff, Dromore, Lambeg, Annahilt, Dundrod, as well as in these postcodes BT27 4LF, BT27 4LQ, BT27 4QS, BT27 4RS, BT27 4LP, BT27 4AR, BT27 4UA, BT27 4PL, BT27 4DL, BT27 4DE. Local Lisburn bookkeeper services will probably have the phone code 028 and the postcode BT27. Verifying this will ensure you are accessing locally based bookkeepers. Lisburn sole traders and business owners can benefit from these and various other bookkeeping related services.
Lisburn Bookkeeper Tasks
Most bookkeepers in Lisburn will be prepared to provide you with the following accounting and bookkeeping services: PAYE & wages, credit control Lisburn, VAT returns in Lisburn, Self-Assessment tax returns, Xero bookkeeping, bookkeeping services Lisburn, bank reconciliations, bookkeeping services for clubs, accounting and bookkeeping in Lisburn, professional bookkeeping services, bookkeeping services for organisations, general bookkeeping services, Quickbook bookkeeping, invoice processing, cash books, mobile bookkeeping services, bookkeeping for sole traders, bookkeeping for tradesmen, double-entry bookkeeping, independent bookkeeping services, cash flow analysis, payment services, management reports, bookkeeping for payroll in Lisburn, profit & loss reports, bookkeeping for charities Lisburn, and more. These are just a selection of the tasks that are undertaken by local bookkeepers. Lisburn professionals will be happy to tell you about their full range of bookkeeping services. If there happen to be some other Lisburn bookkeeper requirements that you need but cannot see here, you can list them on the QUOTE FORM provided. We will be in touch with specifics as soon as we are able.
Bookkeeper Northern Ireland
In Northern Ireland you'll also discover: Omagh bookkeepers, Rathfriland bookkeeping accountants, Kilkeel bookkeepers, Eglinton bookkeepers, Portrush bookkeeping, Waringstown bookkeepers, Ballymoney bookkeeping, Burren bookkeeping, Dungiven accounts services, Ballyclare bookkeeping services, Newcastle bookkeeper, Larne bookkeeper, Lisnaskea bookkeeping, Bessbrook bookkeeping, Keady bookkeeping, Cookstown bookkeeping services, Burren bookkeeping accountants, Draperstown accounts services, Hillsborough accounts services, Gilford accounts services, Magherafelt bookkeeping accountants, Antrim bookkeeping, Newbuildings bookkeeper, Banbridge bookkeeping services, Ballynahinch bookkeepers, Moira bookkeepers, Holywood accounts services, Saintfield bookkeepers, Strabane bookkeeping accountants. Throughout Northern Ireland you should be able to locate bookkeepers who'll offer various services for all your security requirements. If you can't find the perfectin Lisburn itself you should not have any difficulty finding one somewhere nearby.
Bookkeepers Near Lisburn
Also here.: Moira bookkeepers, Annahilt bookkeepers, Hillsborough bookkeepers, Blackskull bookkeepers, Dundrod bookkeepers, Mazetown bookkeepers, Glenavy bookkeepers, Upper Ballinderry bookkeepers, Ballynahinch bookkeepers, Waringsford bookkeepers, Saintfield bookkeepers, Finaghy bookkeepers, Carryduff bookkeepers, Lambeg bookkeepers, Crumlin bookkeepers, Dunmurry bookkeepers, Drumbo bookkeepers, Dromore and more. The majority of these villages and towns are catered for by local bookeepers. Lisburn residents can get fees for bookkeeping services by going
- Lisburn Wages and PAYE
- Lisburn Tax Returns
- Lisburn Cheap Bookkeeping
- Lisburn Payroll Services
- Lisburn Self-Assessment Bookkeeping
- Lisburn Invoice Processing
- Lisburn VAT Returns
- Lisburn Bookkeeping Estimates
- Lisburn Small Business Bookkeeping
- Lisburn Cash Flow Analysis
- Lisburn Bookkeeping Services
- Lisburn Profit and Loss Analysis
- Lisburn Credit Control
- Lisburn Tax Preparation
Bookkeepers Around Lisburn: People living in the following Lisburn roads and areas have just recently requested bookkeeping services - Plantation Mews, Ballymacash Road, Flush Park, Bridle Lane, Bentrim Court, Limetree Meadow, Berkeley Hall Mews East, Saintfield Mews, Rathmore Park, Regency Hall, Seymour Street, Graham Street, Penworth Green, Mountainvale Park, Mullaghglass Road, Ruskin Park, Mountview Park, Eagle Terrace, Haddington Hill, Mayfields, Aberdelghy Gardens, Sloan Street, Belvoir Park, Victoria Crescent, Meadowvale, Woodfort Gardens, Rural Houses, Carrisbrook Park, Breton Court, as well as these Lisburn area postcodes: BT27 4LF, BT27 4LQ, BT27 4QS, BT27 4RS, BT27 4LP, BT27 4AR, BT27 4UA, BT27 4PL, BT27 4DL, BT27 4DE.
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Bookkeeping Jobs Lisburn: Find bookkeeping jobs near Lisburn here: Bookkeeping Jobs Lisburn
Bookkeepers in BT27 area, phone code 028.
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