Bookkeepers Maghull Merseyside (L31): For any person in Maghull who acts as a sole trader, operates an online store or runs a small business, it is their sole responsibility to keep "true and fair", accurate financial and accounting records for at least 6 yrs. This is in accordance with the Companies Act (2006). If you're unable to produce such records you face thousands of pounds in fines and possible Company Director disqualification. It can pay you to employ a professional bookkeeping company or accountant to accomplish this for you, since according to the trade magazine Accounting Today over 40% of small businesses spend at least eighty hours annually doing their bookkeeping activities, which is a substantial investment of time, and might be better spent on actually running your business.
If you're filled with terror simply thinking about writing ledgers, creating profit, loss and financial statements, producing balance sheets or tracking assets and liabilities, then the time to contact a bookkeeper in Maghull for guidance and advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
For many small business owners in Maghull, an obvious question when faced with this dilemma is "Exactly what is the difference between an accountant and a bookkeeper?" The fact is, because of substantial improvements in software over the past decade or so many accountancy firms in Maghull will undertake the task of bookkeeping, which was previously considered beneath their skill-sets, experience and qualifications. For many accountancy firms it's now quite common to charge a fixed fee for bookkeeping services, so that they are in keeping with the normal fees of an independent bookkeeper in Maghull. This is great news for business owners in Maghull since it gives a broader range of competition within this sector and can make the cost of your bookkeeping cheaper than initially thought.
When looking at the big difference between an accountant and a bookkeeper in Maghull, it is the standard of training and qualification that's needed for each discipline. Usually holding an accounting degree, a professional accountant should also have had additional training in tax preparation and have qualifications in fiscal and business management. Whilst bookkeepers in Maghull will invariably have a fair grasp of these skills, they might not have the same levels of experience and training in this field, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER
The process of bookkeeping put simply, is the recording of the daily financial transactions of any business in Maghull. This is likely to include, but is by no means limited to;
- The billing of customers for goods or work completed.
- Monthly reporting and reconciliations.
- VAT recording and submissions.
- Payroll services.
- Making sure that accounting and double-entry bookkeeping practices are implemented.
- Documenting of all financial incomings; card, cash and electronic payments included.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Recording the receipt of invoices and making certain payment is completed punctually.
Depending on the level of service you require, a bookkeeper might just be needed to double check your accounts periodically, if you are happy to perform the majority of your own bookkeeping work. At the bare minimum this should really be from month to month, to enable the quick detection and correcting of any mistakes or problems. This might be the most cost-effective trade-off, provided that you are confident of remaining up-to-date with your monetary transactions without compromising your everyday business activities.
If you're seriously looking to hire a bookkeeper in Maghull, whatever your situation, there's a fair chance that you may be having problems with your financial recording procedures. A professional bookkeeping service will be able to offer guidance and advice on everything from invoicing, stocktaking and preparing expense reports, to linking the latest software application with your business accounts to enable the seamless processing of data.
An especially crucial element of good bookkeeping is being able to reconcile accounts payable with cash flow. Which means that instead of paying off a bill immediately, or waiting on an overdue notice, which a lot of small businesses are guilty of at some time or other, your bookkeeper will organise the payment of bills to a time when your accounts are buoyant and in good shape. This isn't just to make certain that your business or enterprise is financially sound at all times, but also to keep you in favour with those who provide your materials or services. This is one of those balancing acts that can be hard to perform when you're purely focussed on the streamlined running of your day to day business activities.
If you are a sole trader, or own a small business, using a qualified bookkeeper in Maghull, also gives them the chance to cast an unbiased eye over the operation of your business. It could be that business trends and patterns that you have overlooked could therefore be highlighted. It is by no means unheard of for an intelligent bookkeeper to flag up an area which is dropping off in profits, or spot an opportunity that may be lucrative. It's essential for enabling growth in any enterprise in Maghull, to spot such key performance indicators.
If your business sends out invoices it can often be uncomfortable to chase up late payments. If that visit to your clients or phone call is made by somebody outside your normal business bubble, it's possible for most of that awkwardness to be removed. There are legal strategies that a professional bookkeeper can employ, if you have problems with a repeating late payer, and they can help to clear up the issue before the matter ends up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal requirements for bookkeeping if you're a sole trader, are fairly straightforward and basic. A sole trader is expected to keep track of expenditure and income on a month by month basis and keep all invoices and receipts. Although this may initially sound really simple, hiring the expert services of a bookkeeper is still a wise move. So that you can claim back all genuine business expenses from HMRC, a specialised sole trader bookkeeper in Maghull will be in a position to advise you on what you need to do. This could 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 discover how your business can grow and develop in the future, talk to your local bookkeeper.
BOOKKEEPING FOR ONLINE TRADERS
Specialised bookkeepers are occasionally required for certain niches in bookkeeping. For instance, if you run a store online, you will need to employ a bookkeeper in Maghull who understands exchange rate transfers, online payment procedures, multi-currency processing and international and cross-border taxes. Overseeing your inventory on a 24/7 basis is also a huge concern, if the same shop distributes goods that you hold or produce, after all the internet never sleeps, so neither should your bookkeeping services and software.
Together with your bookkeeping services, a virtual office can also be supplied. This is beneficial in allowing an online only business or sole trader to have a postal address and phone service to provide a physical link with their client base. It's certainly worth discussing this possibility if it is something that could benefit you, although not all Maghull bookkeepers will offer this option.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A lot of the bookkeeping sector qualifications are at Diploma or Certificate level, and it is not necessary for a qualified bookkeeper in Maghull to have a degree in accounting. Bookkeeping qualifications can be gained via further education colleges and universities but there are also an ever-growing selection of courses available online.
There are basically 2 principal organisations that offer certification and training to bookkeepers:
The Association of Accounting Technicians (AAT): With certified bookkeepers entitled to use the letters AATQB after their name, the AAT (Association of Accounting Technicians) provides a training schedule with advanced qualifications. They then become authorised AAT bookkeepers, approved by this well-respected organisation, which assures a certain standard of service for their clients. To safeguard the integrity and values of the AAT membership, if a bookkeeper who is a member of the AAT has a complaint filed against them or is found to have breached the code of practice they will be liable to tribunal and disciplinary processes.
The ICB or Institute of Certified Bookkeepers: Keeping their associated members up-to-date with the latest trends and innovations, the Institute of Certified Bookkeepers (ICB) is the largest organisation anywhere in the world, providing certification for bookkeepers, together with reference material and training.
By viewing the register of AAT or ICB members on their websites, you're able to determine the qualifications of any Maghull bookkeeper. Undertaking such checks is always advised before you actually hire any professional bookkeeper in Maghull.
Bookkeeping services are available in Maghull and also nearby in: Homer Green, Litherland, Netherton, Moss Side, Town Green, Lunt, Downholland Cross, Thornton, Lydiate, Bowker's Green, Aughton, Ford, Sefton, as well as in these postcodes L31 8EG, L31 0AN, L31 8BJ, L31 8AZ, L31 0WY, L31 6WB, L31 8DF, L31 4EN, L31 9WA, L31 0AZ. Locally based Maghull bookkeeper services will probably have the dialling code 0151 and the postcode L31. Verifying this can make sure that you are accessing locally based bookkeepers. Maghull sole traders and business owners can utilise these and many other comparable services.
Bookkeeping Enquiries Merseyside
Recently posted Merseyside bookkeeping enquiries: Leonard Palmer in West Kirby, Merseyside was interested in bookkeeping services for his tiling business. Arian Cartwright in Cronton was enquiring about a bookkeeper to do his tax returns. Loki Peterson in Thornton was enquiring about a bookkeeper for his fishing shop. Teo Hoyle in Haydock, Merseyside was searching for a bookkeeper for his pub. Milan Akhtar from Lydiate was hunting for bookkeeping for his online business. Olivia Aslam in Whiston, Merseyside was searching for bookkeeping for her wedding cake shop. Elisabeth Higgins from Windle was trying to find bookkeeping services for her coffeehouse. Emme Jordan in Rainhill, Merseyside was enquiring about bookkeeping services for her hairdressing business. All these local clients did a search for "Bookkeepers Merseyside" and noticed this website on either Google, Yahoo or Bing.
Maghull Bookkeeper Tasks
Most bookkeepers in Maghull will be ready to provide you with the following accounting and bookkeeping services: bookkeeping services for limited companies, mobile bookkeeping services, bookkeeping for societies, general bookkeeping services, tax returns, bookkeeping services for clubs, Self-Assessment tax returns in Maghull, wages & PAYE, bookkeeping services in Maghull, bookkeeping services for startups, tax return preparation Maghull, bookkeeping for payroll, bookkeeping services for pubs, off-site bookkeeping, bookkeeping for self-employed people in Maghull, double-entry bookkeeping in Maghull, cash flow analysis, VAT returns Maghull, management accounts, payment services Maghull, invoice processing, bookkeeping for shops, bookkeeping for organisations, accountancy packages in Maghull, bookkeeping for small businesses, bookkeeping and accounting in Maghull, and more. These are just a few of the duties that are carried out by local bookkeepers. Maghull providers will be happy to inform you of their whole range of services. If there happen to be additional Maghull bookkeeper requirements that you need but can't see here, you can easily list them on the QUOTE FORM provided. We'll get back to you with details as soon as we can.
Maghull Bookkeeper Questions
In the past few months I have been having a good look at the questions people ask about bookkeeping in Maghull. Quite a few of you have tendered some insightful queries that may be worthy of a mention. The most germane ones seemed to be, What makes a good bookkeeper? What do bookkeeping services include? Which bookkeeper certification is best? Why is bookkeeping important? Does a bookkeeper do payroll? Should I use a bookkeeper or an accountant? What are the benefits of a bookkeeper? How much does bookkeeping cost? Does a bookkeeper have to be registered? The vast majority of these questions have hopefully been answered in this blog post, and if some still need to be addressed a bookkeeping "Questions and Answers" feature will be included shortly. My thanks go out to Matthew Bennett, Hugh Warren, Stanislaw Kemp and Rylee Atkins from Maghull, for making the effort to pose their excellent questions. We were also thankful to get pertinent enquiries from Paisley Blair in Aughton, Jesus Vickers in Bowker's Green and Ruby Whyte in Thornton.
Bookkeepers Near Maghull
Also here.: Aughton bookkeepers, Lydiate bookkeepers, Downholland Cross bookkeepers, Sefton bookkeepers, Thornton bookkeepers, Bowker's Green bookkeepers, Ford bookkeepers, Moss Side bookkeepers, Litherland bookkeepers, Lunt bookkeepers, Town Green bookkeepers, Homer Green bookkeepers, Netherton and more. Most of these towns and villages are catered for by local bookeepers. Maghull businesses and traders can get pricing for bookkeeping services by clicking
- Maghull Sole Trader Bookkeeping
- Maghull Accountancy Packages
- Maghull Self-Assessment Bookkeeping
- Maghull VAT Returns
- Maghull PAYE and Wages
- Maghull Credit Control
- Maghull Profit and Loss Analysis
- Maghull Small Business Bookkeeping
- Maghull Double-Entry Bookkeeping
- Maghull Tax Preparation
- Maghull Tax Returns
- Maghull Bookkeeping Estimates
- Maghull Bookkeeping Services
- Maghull Cash Flow Analysis
Bookkeepers Around Maghull: People living in these Maghull areas have just recently requested bookkeeping services - Claremont Avenue, Croft Field, Haweswater Grove, Swan Hey, Birch Close, Larchwood Avenue, Green Heys Drive, Elms Road, Meadway, School Lane, Eastway, Balmoral Road, Norfolk Road, Southey Grove, Norton Grove, Parkfield Grove, Chilton Mews, Dover Road, Haymans Green, Moorland Road, Alexander Wharf, Stonebarn Drive, Rock Lane, Millbank Lane, Bailey Way, Ridley Lane, Kennessee Close, as well as the following Maghull area postcodes: L31 8EG, L31 0AN, L31 8BJ, L31 8AZ, L31 0WY, L31 6WB, L31 8DF, L31 4EN, L31 9WA, L31 0AZ.
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More Merseyside Bookkeepers: More Heswall, Halewood, Maghull, St Helens, Bebington, Southport, Litherland, Crosby, Formby, Kirkby, Haydock, Prescot, Wallasey, Bootle, Newton-le-Willows, Liverpool and Birkenhead.:
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Maghull Bookkeeping Jobs: Browse bookkeeping jobs in Maghull here: Maghull Bookkeeping Jobs
Bookkeepers in L31 area, phone code 0151.
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