Bookkeepers Maidstone Kent (ME14): Irrespective of whether you are a sole trader, operate a small business or run an online store in Maidstone, you're responsible for keeping "true and fair", accurate accounting and financial records for at least 6 yrs according to the Companies Act (2006). If you are unable to produce such records you might face a fine of thousands of pounds and possible Company Director disqualification. According to Accounting Today magazine over forty percent of small business owners spend at least 80 hours every year on their accounts, so while you can carry out these financial records on your own, it can be more cost-effective to employ a professional bookkeeping service or accountant to do them instead.
If you are filled with dread merely thinking about the possiblility of tracking assets and liabilities, compiling balance sheets, writing out ledgers or preparing profit, loss and fiscal reports, then the time to contact a bookkeeper in Maidstone for advice and guidance has arrived.
BOOKKEEPER OR ACCOUNTANT?
Just what is the distinction between an accountant and a bookkeeper is the first question that springs to mind for most small business owners in Maidstone. To be honest, because of substantial software improvements over the past decade many accountancy companies in the Maidstone area will undertake bookkeeping, which was previously deemed beneath their qualifications, experience and skill-sets. It's now fairly common for accounting companies to have a set rate for bookkeeping services as per a typical bookkeeper's fee. Business owners are now cashing in on this, as it generates a greater variety of competition within this sector and can make the cost of bookkeeping far more manageable than it would previously have been.
When you are considering the differences between a bookkeeper and an accountant in Maidstone, the most notable one is the level of training and qualification that is required for each of these disciplines. At least a degree in accounting with additional training in taxation and other financial and business management, will generally be held by an accountant. A bookkeeper in Maidstone will have an understanding of these skills, but may not necessarily hold the qualifications or levels of training and experience.
RESPONSIBILITIES OF A BOOKKEEPER
To explain in the simplest of forms, the bookkeeping process involves the careful recording of daily transactions (financial) of any business in Maidstone. This will include, but isn't limited to;
- Payroll services.
- Logging of all financial incomings; cash, card and electronic payments included.
- Billing of clients for goods or work completed.
- Recording invoices received and making sure payment is completed by the due date.
- Highlighting any discrepancies in financial accounts and rectifying them.
- Ensuring accounting and double-entry bookkeeping practices are implemented.
- Monthly reports and reconciliation.
- VAT recording and submissions.
Contingent upon service level you require, a bookkeeper may only be needed to periodically double-check your figures, if you're in a position to carry out most of bookkeeping work yourself. As a bare minimum this ought to be done from month to month, to facilitate the swift detection and correction of any mistakes or problems. This trade-off can often be the most affordable solution if you're confident of remaining in control of your day by day trading and financial transactions.
Whatever the situation is with your company or business, if you are seriously considering hiring a bookkeeping firm in Maidstone, it is a good bet that you could be struggling with the process of financial records and tax returns. Offering assistance with everything from stocktaking, generating expense reports and invoicing, a professional bookkeeping service will also be able to walk you through the process of linking your business accounts with the most up-to-date computer software to facilitate the seamless processing of your business's financial data.
The reconciliation of accounts payable with cash flow is one of the most vital elements of good bookkeeping practice. Which means that instead of waiting on an overdue notice, which many small businesses in Maidstone are guilty of doing, or paying a bill immediately, your bookkeeper will prioritise the payment of bills to times when your finances are buoyant and in good shape. Together with keeping your business enterprise financially secure, this also maintains your reputation with your service providers and suppliers. When, as an individual, you are focussed on the smooth running of your business, this can be a juggling act that is challenging to perform.
Employing a competent bookkeeper in Maidstone, for your small business or if you are a sole trader also gives them the opportunity to cast an unrelated eye over your financies. This objective evaluation can permit them to see business patterns and trends that you might have overlooked. A bookkeeper identifying a new opportunity or flagging an area which is falling in profits, is by no means uncommon. For the success of any enterprise in Maidstone, it is vital that such key performance indicators (KPI's) are spotted early.
It can often be quite uncomfortable to pursue a late payment if your business gives out invoices. By having someone outside your business bubble visit your clients or make that phone call, some of that apprehension can be taken away. There are legal strategies that a professional bookkeeper can employ, if you have a persistent 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 legal requirements for bookkeeping if you're a sole trader, are reasonably straightforward and simple. This involves keeping all invoices and receipts concerning the business, and tracking income and expenditure on a monthly basis. Now, this does not sound too hard does it? But, it is still good practice to hire the services of a competent bookkeeper to ensure that it is all done correctly. Offering advice on what genuine business expenses you're able to claim back, a professional sole trader bookkeeper in Maidstone will look after your dealings with HMRC. This might include advertising expenses, bills and rent if you work from home, items such as laptops, stationery and printer ink. To discover how to help your business grow, chat to your bookkeeper for more in-depth guidance and advice.
ONLINE TRADERS IN MAIDSTONE
There are certain niche areas in bookkeeping where a specialist might be needed. You'll require a bookkeeper in Maidstone who's familiar with multi-currency processing, exchange rate transfers, online payments and international and cross-border taxes, if you manage a store online for example. If you hold or produce the merchandise that you sell with that shop, then it is going to be a massive priority for your bookkeeping software or services to monitor your inventory on a 24/7 basis, because the internet does not sleep.
A virtual office can also be supplied in conjunction with bookkeeping service. This can be useful in allowing an online only business or sole trader to have a phone service and postal address to provide a physical link with their client base. It's definitely worth discussing this possibility if it is something that could benefit you, although not all Maidstone bookkeepers will supply this option.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the qualifications in the bookkeeping sector are at Diploma and Certificate level, and a qualified Maidstone bookkeeper need not hold a degree. Although there's an ever-growing number of courses available online, bookkeeping qualifications can still be gained via further education colleges and universities, if that is the chosen route.
Training and certification for bookkeepers is mainly provided by 2 organisations:
The Association of Accounting Technicians (AAT): With certified members entitled to use the letters AATQB, the AAT (Association of Accounting Technicians) provides a training schedule with advanced qualifications. They're then able to become authorised AAT bookkeepers, which promises their clients a certain standard of service which is backed by the organisation. If an AAT bookkeeper is found to have violated the code of conduct or has a complaint filed against them, they could be subject to disciplinary and tribunal processes to preserve the trustworthiness of the aat membership.
The ICB or Institute of Certified Bookkeepers: The Institute of Certified Bookkeepers or ICB is the largest organisation in the world and supplies accreditation to certified bookkeepers, together with reference material and training to keep their associated members current with the latest trends.
By visiting their websites, you're able to check the register of AAT or ICB members, to verify the accreditations of any professional bookkeeper. Before getting involved with any professional bookkeeper in Maidstone it's advisable to carry out this check.
Bookkeeping services are available in Maidstone and also in: Weavering, Tovil, Walderslade, Parkwood, Downswood, Detling, Yalding, Allington, Barming, Mereworth, Sandling, East Farleigh, Thurnham, Penenden Heath, Hollingbourne, together with these postcodes ME14 1DB, ME14 1FL, ME14 2AE, ME14 1RG, ME14 1XD, ME14 1TG, ME14 1LR, ME14 2AH, ME14 1FG, ME14 1ST. Local Maidstone Bookkeepers will probably have the postcode ME14 and the telephone code 01622. Checking this out can confirm that you are accessing local bookkeepers. Maidstone sole traders and business owners can utilise these and various other related services.
Outsourced Bookkeeping Maidstone
All businesses in Maidstone should understand the significance of bookkeeping. It helps business people monitor the money left in their bank account, their payables/receivables, the total value of their assets and liabilities, and the like. With the owner of the business having to handle the concerns and issues of running a business, the task of undertaking the bookkeeping is normally outsourced to a bookkeeping company or freelance bookkeepers in Maidstone.
If a company in Maidstone employs a bookkeeper in order to join their ranks, the company will be required to fork out a considerable amount of money in training the individual for the purpose of performing the bookkeeping duties. In addition, there's no guarantee that he or she will stay for long in the company. In that situation, the company can lose a significant amount of money. Besides that, firms will need to look for ways and means to provide benefits and incentives to keep the trained employee there. These are just some of the reasons why businesses quite often enlist the services of professional bookkeepers and bookkeeping companies in Maidstone.
The business owner in Maidstone can look for the following options with the bookkeeping company that offer outsourcing services. Check and find out how much savings he can enjoy by outsourcing the bookkeeping work. Since the expenses related to hiring and training the in-house staff is a great concern, it would be wise on the part of business owner to focus on an outsourcing company that can offer good savings. Try to get first hand information regarding the systems and methods employed by the company involved in bookkeeping services. It is very much important to get quality accounting services and greater security for your financial data. By quality, one means reliable, precise, and real-time bookkeeping data delivered within the set time. In short, the company that offers bookkeeping services in Maidstone should have a well protected system that can be relied on and trusted.
These professional bookkeeping companies in Maidstone 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 Maidstone.
Maidstone Bookkeeper Tasks
Most bookkeepers in Maidstone will be prepared to provide you with the following bookkeeping services: bookkeeping services, corporation tax returns, PAYE & wages in Maidstone, bookkeeping for charities, bookkeeping services for startups Maidstone, bookkeeping services for freelancers, bookkeeping services for restaurants, cash flow analysis Maidstone, partnership tax returns, bookkeeping services for retail outlets, bookkeeping services for clubs in Maidstone, bookkeeping for small businesses, off-site bookkeeping, accountancy packages, bookkeeping services for limited companies in Maidstone, letting agent bookkeeping Maidstone, bookkeeping for societies, management reports in Maidstone, general bookkeeping services, bookkeeping and accounting services, bookkeeping price quotes, QUOTE FORM provided. We will get back to you with specifics as soon as we are able.Maidstone, Kashflow bookkeeping services, Sage bookkeeping services, bookkeeping for the self-employed, in Maidstone, management accounts in Maidstone, Self-Assessment tax returns, and more. These are just a handful of the duties that are carried out by local bookkeepers. Maidstone professionals will be happy to tell you about their full range of services. If there happen to be different Maidstone bookkeeper requirements that you need but can't see here, you can easily list them on the
Bookkeepers Near Maidstone
Also here.: Penenden Heath bookkeepers, Detling bookkeepers, Downswood bookkeepers, East Farleigh bookkeepers, Allington bookkeepers, Parkwood bookkeepers, Sandling bookkeepers, Mereworth bookkeepers, Hollingbourne bookkeepers, Thurnham bookkeepers, Walderslade bookkeepers, Yalding bookkeepers, Weavering bookkeepers, Tovil bookkeepers, Barming and more. All these areas are serviced by local bookeepers. Maidstone residents can get rates for bookkeeping services by clicking
- Maidstone Bank Reconciliations
- Maidstone Tax Preparation
- Maidstone Bookkeeping Quotes
- Maidstone Sole Trader Bookkeeping
- Maidstone Profit and Loss Reports
- Maidstone Tax Returns
- Maidstone Cash Flow Solutions
- Maidstone PAYE and Wages
- Maidstone Self-Assessment Bookkeeping
- Maidstone Bookkeeping Services
- Maidstone Payroll Services
- Maidstone VAT Returns
- Maidstone Cheap Bookkeeping
- Maidstone Small Business Bookkeeping
Bookkeepers Around Maidstone: People who live in the following roads and streets have just recently inquired about bookkeeping services - Tyland Lane, Sutton Street, Cheltenham Close, Saddlers Close, Aldon Close, Stede Hill, Braunstone Drive, St Heliers Close, Broad Street, Bushy Grove, Cold Blow Cottages, Albion Place, Turgis Close, Boarley Road, St Helens Corner, Barming Road, Dover Street, St Margarets Close, Boughton Lane, Samphire Close, St Faiths Street, Allnutt Mill Close, Chillington Street, Cross Drive, The Pavings, Dane Court, Birkdale Court, Denstead Walk, Dickley Lane, as well as these local Maidstone postcodes: ME14 1DB, ME14 1FL, ME14 2AE, ME14 1RG, ME14 1XD, ME14 1TG, ME14 1LR, ME14 2AH, ME14 1FG, ME14 1ST.
More Kent Bookkeepers: More Westerham, Minster, Birchington-on-Sea, Maidstone, Broadstairs, Sheerness, New Romney, Sittingbourne, Tenterden, Boxley, Strood, Rochester, Lydd, Meopham, Westgate-on-Sea, Gillingham, Edenbridge, Canterbury, Kingsnorth, Margate, Bearsted, Paddock Wood, Sandwich, Dartford, Deal, Swanscombe, Pembury, Folkestone, Swanley, Cranbrook, Sturry, Whitstable, Biggin Hill, Sevenoaks, West Kingsdown, East Malling, Dover, Faversham, Wilmington, Chatham, Gravesend, Aylesford, Hartley, Snodland, Northfleet, Herne Bay, Tonbridge, Ramsgate, Staplehurst, Walmer, Southborough, Ashford and Tunbridge Wells.:
Bookkeepers in ME14 area, (dialling code 01622).
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