Bookkeepers Maidenhead Berkshire (SL6): You are responsible for keeping "true and fair", accurate accounting and financial records for at least six years, if you operate a small business, run an online store or are a sole trader in Maidenhead, as stated by the 2006 Companies Act. Failing to produce such detailed records could leave you faced with a hefty fine and potentially Company Director disqualification. There is a significant time investment involved with preparing these financial recordings on your own, and it can pay to use a professional accountant or bookkeeper, as according to the magazine Accounting Today over 40% of small businesses spend eighty hours plus each year doing their bookkeeping.
If you are filled with a sense of terror merely thinking about the possiblility of compiling balance sheets, filling out ledgers, tracking assets and liabilities or preparing profit, loss and financial statements, then the time to contact a bookkeeper in Maidenhead for advice and guidance has arrived.
BOOKKEEPER OR ACCOUNTANT?
What is the distinction between a bookkeeper and an accountant is the first question that springs to mind for a lot of business owners in Maidenhead. The fact is, because of improvements in software over the past 10 yrs or so many accountancy firms in the Maidenhead area will take on the task of bookkeeping, which was previously considered beneath their experience, qualifications and skill set. For many accountancy firms it's now common practice to charge a set rate for bookkeeping services, so that they are in line with the standard fees of a dedicated bookkeeper in Maidenhead. Business owners in Maidenhead are now benefiting from this, as it provides a greater variety of competition within this sector and can make bookkeeping much more affordable than it would have been in the past.
It is essentially the standard of training and qualification that is needed for each discipline, that reflects the biggest difference between a bookkeeper and an accountant in Maidenhead. An accountant will, at a minimum, hold an accounting degree, and should have also had additional training in business and fiscal management, and taxes. A bookkeeper in Maidenhead will definitely have a good grasp of these disciplines, but might not have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER IN MAIDENHEAD
To explain in the simplest of forms, the bookkeeping process involves the logging of day to day transactions (financial) of any business enterprise in Maidenhead. This may include, but isn't limited to;
- Making sure that accounting and double-entry bookkeeping practices are followed at all times.
- Payroll services.
- Highlighting any discrepancies in financial accounts and rectifying them.
- Logging of all financial incomings; including card, cash and electronic payments.
- Monthly reconciliations and reporting.
- Billing of clients for goods or work completed.
- VAT recording and submissions.
- Recording invoices received and ensuring that payment is completed on time.
If you're happy to do the bulk of bookkeeping work yourself; a bookkeeper might only be needed to double check your accounts every once in a while. This should really be done from month to month as a bare minimum, as this allows for any problems or mistakes to be discovered and amended swiftly. Provided that it is possible to stay up-to-date with your monetary transactions without compromising your daily trading operations, this solution can be the most cost-effective trade-off.
Whatever your circumstances, if you are considering hiring a bookkeeper there is a fair chance that you might be having problems with the financial recording aspects of your business in Maidenhead. To facilitate the seamless sorting of financial data, a good bookkeeping company will help you to link the latest software program to your business accounts, and will give guidance and advice on things such as producing expense reports, invoicing and stocktaking.
The efficient reconciliation of accounts payable with cash flow is one of the most important aspects of a good bookkeeping service. This means that your bookkeeper will organise bill payments to times when your finances are in good shape and buoyant, rather than paying an outstanding bill right away, or waiting for an overdue notice, which many small businesses in Maidenhead are guilty of doing. In addition to keeping your business financially secure, this also maintains your good standing with suppliers and service providers. This is a balancing act that you may find hard to perform as an individual when you're inevitably focussed on running your business.
Using a certified bookkeeper in Maidenhead, if you're a sole trader, or for your small business also gives them an opportunity to cast an unrelated eye over your financies. Business patterns and trends that might have otherwise gone unnoticed might be highlighted by this sort of impartial assessment. A situation where an astute bookkeeper flags up an area where profits are decreasing, or spots a new opportunity that could be lucrative, is by no means an unheard of occurrence. Spotting these key performance indicators (KPI's) is crucial for driving the growth of any enterprise in Maidenhead.
If your business sends out invoices it can sometimes be awkward to pursue a late payment. Having an independent person from outside your normal business bubble, can take away the awkwardness of making that telephone call or visit to your customers. To help resolve the matter, if you have a persistent late or non-payer, there are procedures that can be made use of by a professional bookkeeper, so that court proceedings can be averted.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some comparatively straightforward bookkeeping requirements for sole traders, which are set out in law. Sole traders are required to track income and expenditure on a month by month basis and retain all receipts and invoices. While this might sound simple it is still a good idea to retain the services of a competent bookkeeper. Advising you on what genuine business expenses you are able to claim back, a specialised sole trader bookkeeper in Maidenhead will look after your dealings with HMRC. This could include items such as laptops, rent and bills if working from home, stationery goods, printer ink and advertising expenses. Talk to your local bookkeeper for more in-depth advice and learn how they might help your small business to grow.
There are some niche businesses where a specialist bookkeeping service might be essential. For instance, if you run an online store, you will be better off employing a bookkeeper in Maidenhead who is familiar with international and cross-border taxes, online payment procedures, exchange rate transfers and multi-currency processing. If the same store sells goods you produce or hold, then managing your stock on a 24 hours a day basis is a huge priority, as I'm sure you are aware the internet does not sleep, therefore nor should your bookkeeping software or services.
Together with bookkeeping service, it is also possible to supply a remote virtual office. This allows an online only business or sole trader to have a phone service and postal address to provide a physical connection to their customers. It's worth talking about this possibility if it's something that could benefit you, although not all bookkeeping companies in Maidenhead will offer this solution.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the bookkeeping industry are at Certificate or Diploma level, and a professional bookkeeper in Maidenhead doesn't need to hold a degree. Although there is an ever-growing selection of online bookkeeping courses available, qualifications can still be gained via further education colleges and universities, if that's the chosen route.
Training and certification for bookkeepers is mostly provided by 2 key organisations:
The Institute of Certified Bookkeepers (ICB): Keeping their associated members informed about the latest trends and innovations, the ICB or Institute of Certified Bookkeepers is the largest organisation on the planet, providing accreditation to certified bookkeepers, along with training and reference material.
The Association of Accounting Technicians or AAT: Providing advanced qualifications and training, the AAT or Association of Accounting Technicians, enables a fully certified bookkeeper to use the letters AATQB after their name. They then become authorised AAT bookkeepers, backed up by this association, which promises a high level of service for their clients. If a bookkeeper who is associated with the AAT is found to have broken the code of conduct or has a complaint filed against them, they could be subject to tribunal and disciplinary procedures to protect the credibility of aat membership.
By going to their respective websites, it's possible to inspect the register of AAT or ICB members, to verify the qualifications of any bookkeeper. Implementing this check is strongly recommended before getting involved with any bookkeeper in Maidenhead.
Bookkeeping services are available in Maidenhead and also in: Knowl Hill, Holyport, White Waltham, Cockpole Green, Littlefield Green, Woolley Green, Bray, Bisham, Dorney Reach, Touchen-End, Wargrave, Ruscombe, Pinkneys Green, Courtlands, Lent Rise, Warren Row, Bray Wick, Burchett's Green, North Town, Littlewick Green, Waltham St Lawrence, Furze Platt, Taplow, Hitcham, as well as in these postcodes SL6 1LU, SL6 1QP, SL6 1DG, SL6 1ND, SL6 1FY, SL6 1EZ, SL6 1FH, SL6 1QN, SL6 0XN, SL6 1HX. Local Maidenhead Bookkeepers will probably have the postcode SL6 and the phone code 01628. Verifying this should guarantee that you access locally based bookkeepers. Maidenhead sole traders and business owners are able to utilise these and numerous other similar services.
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Maidenhead Bookkeeper Tasks
Most bookkeepers in Maidenhead will be ready to offer you the following bookkeeping services: bookkeeping for payroll, VAT returns Maidenhead, bookkeeping services in Maidenhead, accountancy packages in Maidenhead, bookkeeping for self-employed Maidenhead, charity bookkeeping Maidenhead, mobile bookkeeping services, off-site bookkeeping, cash books, Xero bookkeeping, QUOTE FORM provided. We will get back to you with details just as soon as we are able., management accounts, corporation tax returns, bookkeeping for charities in Maidenhead, invoice processing, management reports, bookkeeping services for startups in Maidenhead, letting agent bookkeeping Maidenhead, Maidenhead, accounting and bookkeeping, bookkeeping for home-based businesses in Maidenhead, bookkeeping services for retail outlets, bank reconciliation, accounting and bookkeeping services Maidenhead, bookkeeping services for pubs, bookkeeping services for restaurants in Maidenhead, bookkeeping quotations in Maidenhead, landlord bookkeeping Maidenhead, and more. These are just some of the activities that are handled by local bookkeepers. Maidenhead providers will be happy to inform you of their whole range of bookkeeping services. If there are additional Maidenhead bookkeeper requirements that you need but can't see here, you should list them on the
Bookkeepers Near Maidenhead
Also here.: Taplow bookkeepers, Pinkneys Green bookkeepers, Ruscombe bookkeepers, Cockpole Green bookkeepers, Warren Row bookkeepers, Burchett's Green bookkeepers, Hitcham bookkeepers, Touchen-End bookkeepers, Furze Platt bookkeepers, Dorney Reach bookkeepers, Littlefield Green bookkeepers, Lent Rise bookkeepers, White Waltham bookkeepers, Holyport bookkeepers, Bray bookkeepers, Knowl Hill bookkeepers, Bray Wick bookkeepers, Wargrave bookkeepers, Waltham St Lawrence bookkeepers, North Town bookkeepers, Bisham bookkeepers, Woolley Green bookkeepers, Courtlands bookkeepers, Littlewick Green and more. All of these locations are serviced by local bookeepers. Maidenhead traders and businesses can get rates for bookkeeping services by clicking
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Bookkeepers Around Maidenhead: People who live in the following Maidenhead areas have just recently inquired about bookkeeping services - Choke Lane, Doranne Orchard, Averil Court, Allenby Road, Denham Close, South Road, Cardinals Walk, Shergold Way, Cumbria Close, Briar Glen, Altwood Drive, Thurlby Way, Coln Close, The Binghams, Castle Hill, Dunholme End, Balmoral, Cliveden Mead, Stratford Gardens, Stubbles Lane, Switchback Road South, Cookham Dean Bottom, Thames Crescent, Bigfrith Lane, Cadwell Drive, Coningsby Close, Silver Close, Bargeman Road, Bramble Drive, as well as these Maidenhead area postcodes: SL6 1LU, SL6 1QP, SL6 1DG, SL6 1ND, SL6 1FY, SL6 1EZ, SL6 1FH, SL6 1QN, SL6 0XN, SL6 1HX.
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More Berkshire Bookkeepers: More Newbury, Tilehurst, Ascot, Twyford, Sunninghill, Bracknell, Reading, Sandhurst, Wokingham, Winkfield, Windsor, Woodley, Crowthorne, Thatcham, Maidenhead, Slough and Finchampstead.:
Bookkeepers in SL6 area, phone code 01628.
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