Bookkeepers Newbury Berkshire (RG14): In compliance with the 2006 Companies Act, if you are a sole trader, operate an online store or own a small business in Newbury, you are entirely responsible for keeping "true and fair", accurate accounting and financial records for a minimum of six years. If you cannot produce this information, you may face disqualification as a Company Director and receive a hefty fine. There's a substantial time investment involved with maintaining these financial recordings on your own behalf, and it can pay to employ a professional accountant or bookkeeper, especially if you consider the fact that according to Accounting Today over forty percent of small business owners spend at least 80 hours annually doing their bookkeeping.
If you're filled with terror just thinking about the possiblility of creating profit, loss and fiscal reports, compiling balance sheets, filling out ledgers or tracking assets and liabilities, then the time to get in touch with a bookkeeper in Newbury for advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
For many small business owners in Newbury, an obvious question when facing this challenge is "Exactly what is the difference between an accountant and a bookkeeper?" In the old days it was frequently deemed to be beneath the experience, qualifications and skill-sets of an accountant to do the work of a bookkeper, however because of software improvements over the past decade, many bookkeeping tasks will now be undertaken by accounting companies in the Newbury area. A lot of accounting companies now have a fixed rate for bookkeeping services, to keep them in line with what an independent bookkeeper in Newbury would routinely charge. Because it provides a wider variety of competition within this sector, this is good news for business owners in Newbury, making their bookkeeping costs cheaper than they previously were.
When thinking about the biggest difference between an accountant and a bookkeeper in Newbury, it is the amount of training that is needed for each of these disciplines. Normally holding an accounting degree, a professional accountant will also have had additional training in tax law and have qualifications in business and fiscal management. Whilein Newbury will invariably have a really good understanding of these fiscal disciplines, they might not have the same levels of experience and training in this field, or hold these qualifications.
A BOOKKEEPER'S RESPONSIBILITIES
To explain in the simplest of forms possible, bookkeeping involves the logging of daily monetary transactions of any business or enterprise in Newbury. This could include;
- Recording of all financial incomings; including cash, electronic and card payments.
- Payroll services.
- Monthly reconciliations and reporting.
- The billing of clients for work completed or goods.
- Recording invoices received and making sure payment is completed punctually.
- Highlighting and rectifying any discrepancies in financial accounts.
- Making sure that accounting and double-entry bookkeeping practices are followed.
- VAT submissions and recording.
Based on service level you require, a professional bookkeeper may just be needed to double check your accounts periodically, if you are happy to do the majority of bookkeeping work yourself. To enable any problems or mistakes to be detected and rectified swiftly, this should be from month to month as a bare minimum. Providing you're confident of remaining up-to-date with your financial transactions without compromising your day by day business activities, this option can be the most cost-effective solution.
Whatever your circumstances, if you are thinking of hiring a bookkeeper in Newbury, there is a fair chance that you may be struggling with the financial recording aspects of your small business. Offering advice and guidance on everything from creating expense reports, invoicing and stocktaking, a good bookkeeping company will also be able to guide you through the process of linking your business accounts with the latest software application to facilitate the seamless processing of your business's transaction information.
The reconciliation of cash flow with accounts payable is one of the most important elements of a good bookkeeping service. Which means that your bookkeeper will schedule bill payments to times when your accounts are buoyant and in good shape, instead of paying a bill straight away, or waiting for a final notice, which a lot of small businesses in Newbury are guilty of. This is not merely to make sure that your business is on a secure financial footing all the time, but also to keep you in the good books of those people who provide your materials or services. When, as an individual, you are purely focussed on the operation of your day to day business activities, this can be a juggling act that's challenging to perform.
Having a person who is unconnected to the business cast an eye over your financial transactions, is another added benefit of employing a professional bookkeeper in Newbury for your small business or if you're a sole trader. It might be that business trends and patterns that you have overlooked could therefore be highlighted. It isn't uncommon for a bookkeeper to spot a new opportunity or flag an area which is falling in profits. These key performance indicators are important in the growth and success of any business enterprise in Newbury.
If invoices are sent out by your company it can sometimes be humiliating to pursue late payments. Having somebody outside your business situation, can take the apprehension out of visiting your clients or making that telephone call. If you have problems with a repeating late or non-payer there are legal solutions that a professional bookkeeper can use to help resolve the situation before the issue winds up in a claims court.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some fairly uncomplicated sole trader bookkeeping requirements, that are laid out by law. It is stipulated that sole traders should track expenditure and income from month to month and retain all invoices and receipts. Now, this does not sound too hard does it? Yet, it is still a good idea to retain the services of a competent bookkeeper to make sure that it is all done accurately. A professional sole trader bookkeeper in Newbury can give you advice on what you are able to claim back from HMRC as valid business expenses. This may include bills and rent if you work from home, printer ink, items such as computing equipment, stationery goods and advertising. To discover how they can help your business to grow, chat to a trusted bookkeeper for more detailed advice.
ONLINE TRADERS IN NEWBURY
There are several niche businesses where a specialist bookkeeping service could be required. If you run an online store for instance, you are going to need a bookkeeper in Newbury who's familiar with online payments, exchange rate transfers, multi-currency processing and international and cross-border taxes. Controlling your inventory on a 24 hours a day basis is also an important concern, if the same store distributes goods that you hold or produce, as I'm sure you will be aware the internet does not sleep, so neither should your bookkeeping services and software.
A virtual office can also be provided in conjunction with your bookkeeping service. This enables a sole trader or online only business to have a phone service and postal address to offer a physical link with their customers. It's certainly worth talking about this possibility if it's something that could be of benefit, although not all bookkeepers in Newbury will provide this solution.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the qualifications in the bookkeeping sector are at Certificate or Diploma level, and a professional Newbury bookkeeper need not hold a degree. Qualifications can be gained via further education universities and colleges but there are also a number of online courses available.
Representing bookkeepers, there are 2 key certification and training organisations:
The Association of Accounting Technicians or AAT: The AAT or Association of Accounting Technicians provides advanced qualifications and a training schedule entitling a fully trained member to use the letters AATQB. They are then permitted to become certified AAT bookkeepers, which guarantees their customers a decent level of service which is backed up by the organisation. If a bookkeeper who is associated with the AAT has a complaint filed against them or is found to have broken the code of conduct they could be liable to tribunal and disciplinary processes to safeguard the values and integrity of AAT membership.
The Institute of Certified Bookkeepers or ICB: Offering accreditation to qualified bookkeepers, in addition to reference material and training to keep their associated members current with the latest trends and developments, the Institute of Certified Bookkeepers (ICB) is the largest organisation in the world.
By visiting the register of AAT or ICB members on their respective websites, you're able to examine the accreditations of any Newbury bookkeeper. It is strongly advised to implement this check, before you hire the services of any local bookkeeper in Newbury.
Bookkeeping services are available for people living in in Newbury and also nearby in: Winterbourne, Bagnor, Wash Common, Hoe Benham, Woodspeen, Newtown, Speen, Highclere, Crockham Heath, Ashmore Green, Hunts Green, Chieveley, Donnington, Wash Water, Curridge, Bucklebury, Newtown Common, Boxford, Westbrook, Halfway, Woolton Hill, Thatcham, Greenham, Adbury, Cold Ash, Marsh Benham, Snelsmore Common, Inkpen, Upper Bucklebury, Benham Hill, Enborne, Stockcross, Shaw, as well as in these postcodes RG14 1UP, RG14 1AZ, RG14 1TG, RG14 1DY, RG14 1JS, RG14 1PJ, RG14 1TY, RG14 1DP, RG14 1NU, RG14 1DL. Locally based Newbury Bookkeepers will most likely have the dialling code 01635 and the postcode RG14. Verifying this can guarantee you access local bookkeepers. Newbury sole traders and business owners can benefit from these and many other comparable services.
Bookkeeping Newbury - Outsourcing Options
All businesses in Newbury should understand the significance of bookkeeping. It helps business people monitor the sum total of their assets and liabilities, their outgoings and incomings, the money left in their bank account, and so forth. With the owner of the business having to deal with the concerns and issues of running a business, the task of carrying out the bookkeeping is often outsourced to a bookkeeping company or freelance bookkeepers in Newbury.
If a company in Newbury hires a bookkeeper in order to join their ranks, the company will need to spend a substantial amount of money in training the person for the purpose of doing the bookkeeping tasks. In addition to that, there is no guarantee that he or she will stay for long in the company. In that case, the company stands to lose a considerable amount of money. Apart from that, businesses will have to look for ways and means to provide benefits and incentives to keep the employee there. These are a few of the reasons behind business organisations enlisting the services of professional bookkeepers and bookkeeping companies in Newbury.
With the advent of new technology and the internet there is no need for business owners to stick to a freelance bookkeeper who may continue with outdated accounting practices. Again, they are not under pressure to hire and retain some in-house bookkeepers. Bookkeeping outsourcing is becoming increasingly common in the financial domain. One will find a lot many companies offering financial bookkeeping services catering to all kinds of clients and industries in Newbury. A majority of these companies promise and deliver quality service. It assumes importance for a business to look into the track record of these Newbury bookkeeping companies when it comes to hiring a third party company for bookkeeping purposes.
Newbury Bookkeeper Tasks
Most bookkeepers in Newbury will be able to provide you with the following bookkeeping services: Self-Assessment tax returns, bookkeeping for home-based businesses Newbury, franchise bookkeeping Newbury, VAT returns, Xero bookkeeping, invoice processing Newbury, personal tax returns Newbury, management reports Newbury, cash flow analysis in Newbury, bookkeeping services for the self-employed Newbury, landlord bookkeeping Newbury, bookkeeping for sole traders, partnership tax returns, bookkeeping services, maintaining fixed asset registers in Newbury, professional bookkeeping services, payroll bookkeeping Newbury, bookkeeping and accounting, business bookkeeping Newbury, payment services Newbury, bookkeeping for limited companies, bookkeeping for charities, letting agent bookkeeping Newbury, bookkeeping quotations, bookkeeping services for organisations, bank reconciliations, bookkeeping for societies in Newbury, accounting and bookkeeping services in Newbury, Kashflow bookkeeping services, PAYE & wages Newbury, and more. Listed are just a small portion of the activities that are carried out by local bookkeepers. Newbury professionals will be happy to tell you about their full range of services. If there happen to be different Newbury bookkeeper requirements that you need but don't see here, you can list them on the QUOTE FORM provided. We will get back to you with specifics just as soon as we are able.
Newbury Bookkeeper Questions
A couple of weeks back I was sifting through the types of questions that folks in Newbury ask regarding bookkeepers. A couple of our web visitors submitted helpful enquiries that I thought would be worth mentioning here. Those which caught the eye were, Why is bookkeeping important? Are bookkeeping fees tax deductible? How do bookkeeping services work? How does bookkeeping differ from accounting? What makes a good bookkeeper? What are the benefits to hiring a bookkeeper? How much do bookkeepers charge? Does a bookkeeper need a degree? Can bookkeeping be done remotely? Most of these enquiries have hopefully been covered on this page, and if not a bookkeeping "Questions and Answers" section is the next thing we're going to introduce. My thanks go to Felix Miller, Mark Payne, Vivaan Cameron and Elise Sanderson, for taking time out to present these excellent questions. Associated queries were likewise received from Mya Daly in Westbrook, Lincoln Talbot in Woolton Hill and Luna Guest in Winterbourne.
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Bookkeepers Near Newbury
Also here.: Cold Ash bookkeepers, Thatcham bookkeepers, Woodspeen bookkeepers, Wash Common bookkeepers, Wash Water bookkeepers, Newtown bookkeepers, Curridge bookkeepers, Hunts Green bookkeepers, Benham Hill bookkeepers, Woolton Hill bookkeepers, Boxford bookkeepers, Enborne bookkeepers, Marsh Benham bookkeepers, Halfway bookkeepers, Highclere bookkeepers, Upper Bucklebury bookkeepers, Chieveley bookkeepers, Snelsmore Common bookkeepers, Stockcross bookkeepers, Adbury bookkeepers, Bagnor bookkeepers, Greenham bookkeepers, Winterbourne bookkeepers, Shaw bookkeepers, Donnington bookkeepers, Speen bookkeepers, Crockham Heath bookkeepers, Newtown Common bookkeepers, Hoe Benham bookkeepers, Westbrook bookkeepers, Ashmore Green bookkeepers, Inkpen bookkeepers, Bucklebury and more. All these villages and towns are serviced by local bookeepers. Newbury traders and businesses can get pricing for bookkeeping services by going
- Newbury Cash Flow Analysis
- Newbury Profit and Loss Reports
- Newbury Tax Preparation
- Newbury Sole Trader Bookkeeping
- Newbury Bookkeeping Services
- Newbury Cheap Bookkeeping
- Newbury Tax Returns
- Newbury Bookkeeping Quotations
- Newbury VAT Returns
- Newbury Self-Assessment Bookkeeping
- Newbury PAYE and Wages
- Newbury Credit Control
- Newbury Small Business Bookkeeping
- Newbury Double-Entry Bookkeeping
Bookkeepers Around Newbury: People living in these Newbury roads and areas have just recently enquired about bookkeeping services - Cansfield End, Speen Hill Close, Coppice Road, Croft Road, Andover Drove, Bell Holt, Sandown Way, Ashwood Drive, The Nightingales, Arthur Road, Christie Heights, Bartholomew Close, Shaw Farm Lane, Stapleton Close, St Richards Road, Coronation Close, Stanmore Road, Swan Court, Sandleford, Talbot Close, Byron Close, Stanmore, Sunnyside, The Chase, Church Road, as well as the following local Newbury postcodes: RG14 1UP, RG14 1AZ, RG14 1TG, RG14 1DY, RG14 1JS, RG14 1PJ, RG14 1TY, RG14 1DP, RG14 1NU, RG14 1DL.
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More Berkshire Bookkeepers: More Woodley, Reading, Crowthorne, Ascot, Maidenhead, Sandhurst, Slough, Twyford, Sunninghill, Thatcham, Winkfield, Windsor, Bracknell, Newbury, Tilehurst, Wokingham and Finchampstead.:
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Newbury Bookkeeping Jobs: Find bookkeeping jobs in Newbury by clicking here: Newbury Bookkeeping Jobs
Bookkeepers in RG14 area, telephone code 01635.
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