Bookkeepers Newcastle

Bookkeepers Newcastle Tyne and Wear (NE1): You're entirely responsible for maintaining "true and fair", accurate accounting and financial records for a minimum of 6 years, if you are a sole trader, operate a small business or run an online store in Newcastle, to comply with the Companies Act (2006). You may face disqualification as a Company Director and receive a fine of thousands of pounds, if you cannot produce such information. You could perform these financial recordings on your own behalf, yet when you think about the fact that according to Accounting Today magazine over forty percent of small business owners spend at least eighty hours annually on their bookkeeping duties, it is often better to use a professional accountant or bookkeeper.

The time has come to get in touch with a bookkeeper in Newcastle for guidance and advice, if you are overcome with a sense of panic merely thinking about the possiblility of filling out ledgers, preparing profit, loss and financial statements, compiling balance sheets or tracking liabilities and assets.

The very first question many folks ask is "What is the difference between a bookkeeper and an accountant?" In the past it was typically deemed to be beneath the skill set, experience and qualifications of an accountant to do the work of a bookkeper, however due to significant improvements in software over the past decade or so, many bookkeeping duties will now be undertaken by accountancy firms in Newcastle. For many accountancy firms it's now quite common to charge a fixed fee for bookkeeping services, so that they are comparable to the standard fees of an independent bookkeeper in Newcastle. This means the cost of bookkeeping is cheaper than it previously was, and is fantastic news for small business owners in Newcastle because it offers a wider variety of competition within the industry.

It is essentially the level of training and qualification that is necessary for each discipline, that reflects the main difference between an accountant and a bookkeeper in Newcastle. An accountant will typically hold at least an accounting degree with further training in the field of taxes and other financial and business management. A bookkeeper in Newcastle may not hold the qualifications or levels of experience and training, but will still have a decent understanding of these disciplines.

Put simply, the bookkeeping process is the recording of the day by day financial transactions of any business in Newcastle. This can include, but isn't limited to;

• VAT recording and submissions.
• The billing of customers for goods or work completed.
• Payroll services.
• Logging the receipt of invoices and making certain that payment is completed by the due date.
• Highlighting and rectifying any discrepancies in the financial accounts.
• Monthly reconciliations and reports.
• Recording of all financial incomings; cash, electronic and card payments included.
• Ensuring double-entry bookkeeping and accounting practices are implemented.

If you are able to perform the vast majority of bookkeeping work yourself; a professional bookkeeper might just be necessary for double-checking your accounts every once in a while. So any problems or mistakes can be detected and corrected swiftly, as a bare minimum, this ought to be done every month. This compromise can sometimes be the most economical if you're confident of keeping up-to-date with your everyday financial transactions and trading activities.

Whatever the circumstances are with your business or company, if you are currently considering hiring a bookkeeper in Newcastle, it's fairly likely that you might be struggling with the process of financial recording and tax returns. A professional bookkeeper will be able to offer assistance with everything from invoicing, stocktaking and producing expense reports, to linking your business accounts with the most up-to-date software program to enable the seamless pull-through of data.

Being able to reconcile accounts payable with cash flow, is an especially crucial element of a good bookkeeper. This means that instead of waiting for a final notice, which many small businesses are guilty of, or paying a bill immediately, your bookkeeper will organise bill payments to times when your accounts are buoyant. This not only keeps your business or enterprise financially sound, but keeps you in good stead with suppliers and those people who provide you with services. When, as an individual, you are mainly focussed on the operation of your business, this can be a juggling act that's difficult to perform.

Having an individual who is not connected to the business cast an eye over your financial affairs, is another advantage of using a professional bookkeeper in Newcastle if you are a sole trader, or for your small business. It is entirely possible that an independent appraisal such as this will showcase business patterns and trends that have previously been missed. A scenario where an intelligent bookkeeper flags an area which is dropping off in profits, or spots an opportunity which could be lucrative, is not at all an unusual occurrence. Spotting these key performance indicators is crucial for the success and growth of any business in Newcastle.

It can sometimes be quite humiliating to pursue a late payment if your company gives out invoices. Having a person outside your normal business situation, can take the awkwardness away from making that telephone call or visit to your client. A professional bookkeeper can make use of legal solutions to take care of a consistent late payer, and without having to resort to claims court proceedings, help to clear up the issue.

The legal requirements for bookkeeping if you're a sole trader, are comparatively straightforward and basic. This involves saving all receipts and invoices concerning the business, and keeping a record of income and expenditure on a monthly basis. Whilst this might at first sound simple it is still recommended that you hire the services of a competent bookkeeper. When preparing your Self-Assessment tax returns, a dedicated sole trader bookkeeper in Newcastle will be able to give you advice on what your genuine business expenses are, and claim these back from HMRC. This could include rent and bills if working from home, stationery goods, items such as computing equipment, consumables and promotional advertising. If you'd like to get more in-depth advice, and discover how your business can grow and develop going forward, chat to a trusted bookkeeper.

There are various business niches where a specialist bookkeeping service could be required. You will need a bookkeeper in Newcastle who understands online payment procedures, exchange rate transfers, multi-currency processing and international and cross-border taxes, if you operate a store online for instance. If that same outlet sells goods you hold or produce, then keeping track of stock on a 24/7 basis is a huge priority, after all the internet does not sleep, so neither should your bookkeeping software or services.

Together with bookkeeping service, it is also possible to provide a virtual office. This allows a sole trader or online only business to have a telephone service and postal address to provide a physical connection to their customers. It is definitely worth discussing this possibility if it is required, although not all bookkeepers in Newcastle will supply this option.

A number of the bookkeeping qualifications are at Diploma or Certificate level, and it isn't necessary for a professional bookkeeper in Newcastle to have a degree in accounting. If the preferred route to qualification is via further education universities and colleges, this option is still available, whereas there there is an ever-growing range of bookkeeping courses available online.

Representing bookkeepers, there are two main certification and training organisations:

The Institute of Certified Bookkeepers (ICB): The Institute of Certified Bookkeepers or ICB is the largest in the world and supplies certification for qualified bookkeepers, in addition to reference material and training to keep their members up-to-date.

The AAT or Association of Accounting Technicians: With certified bookkeepers entitled to use the letters AATQB, the Association of Accounting Technicians (AAT) provides a training schedule with advanced qualifications. They then become registered AAT bookkeepers, approved by this well-respected association, which promises a level of service for their customers. To preserve the values and integrity of the AAT membership, if an AAT bookkeeper has a complaint filed against them or is found to have contravened the code of practice they could be subject to disciplinary and tribunal procedures.

By viewing the register of ICB or ATT members on their respective websites, it's possible to confirm the accreditations of any bookkeeper in Newcastle. It is generally a good idea to implement this check, before you hire the services of any professional bookkeeper in Newcastle.

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Bookkeeping services are available for those living in in Newcastle and also in nearby places like: Cowgate, Heaton, Coxlodge, Woolsington, Felling Shore, Kenton, Felling, Jesmond, Shieldfield, West Jesmond, Forest Hall, Benton, Fenham, Shield Field, South Gosforth, Byker, as well as in these postcodes NE1 2QJ, NE1 2BQ, NE1 2TP, NE1, NE1 1EH, NE1 1SQ, NE1 1BB, NE1 2QE, NE1 3PG, NE1 2PE. Locally based Newcastle bookkeeper services will probably have the phone code 0191 and the postcode NE1. Checking this out can guarantee you access locally based bookkeepers. Newcastle sole traders and business owners are able to utilise these and lots of other similar services.

Newcastle Bookkeeper Tasks

Most Newcastle bookkeepers will be prepared to provide you with the following accounting and bookkeeping services: bookkeeping for charities, independent bookkeeping services, bookkeeping for societies, payment services, bookkeeping for restaurants Newcastle, mobile bookkeeping services Newcastle, small business tax returns, charity bookkeeping Newcastle, bookkeeping services for pubs, tax preparation in Newcastle, bookkeeping for self-employed Newcastle, bookkeeping and accounting services, personal tax returns, bookkeeping for limited companies in Newcastle, cash books, assistance with registering for self-employment in Newcastle, bookkeeping for organisations in Newcastle, invoice processing, bank reconciliation, bookkeeping and accounting, bookkeeping for home-based businesses in Newcastle, professional bookkeeping services, Sage bookkeeping services in Newcastle, general bookkeeping services in Newcastle, wages & PAYE Newcastle, double-entry bookkeeping in Newcastle, bookkeeping services for tradesmen Newcastle, landlord bookkeeping, maintaining fixed asset registers, bookkeeping for payroll, and more. These are just a few of the duties that are carried out by local bookkeepers. Newcastle companies will be delighted to keep you abreast of their entire range of bookkeeping services. If there happen to be additional Newcastle bookkeeper requirements that you want but don't see here, you can list them on the QUOTE FORM provided. We will be in touch with specifics as soon as we are able.

Bookkeepers Near Newcastle

Also find: Coxlodge bookkeepers, Shield Field bookkeepers, Benton bookkeepers, Cowgate bookkeepers, South Gosforth bookkeepers, Kenton bookkeepers, Shieldfield bookkeepers, Jesmond bookkeepers, Forest Hall bookkeepers, Byker bookkeepers, Felling Shore bookkeepers, West Jesmond bookkeepers, Felling bookkeepers, Heaton bookkeepers, Fenham bookkeepers, Woolsington bookkeepers and more. In practically all of these localities, professionals who offer bookkeeping services are available. The ease of access ensures individuals and businesses alike have the capability to find the necessary financial support for effective account management. Residents and businesses in the region can get price quotes for bookkeeping tasks by going here.

Bookkeeping Services Newcastle

Find a Bookkeeper in Newcastle Here

• Double-Entry Bookkeeping
• Sole Trader Bookkeeping
• Tax Preparation
• Tax Returns
• Bookkeeping Price Quotes
• Credit Control
• Wages PAYE and CIS
• Small Business Bookkeeping
• Self-Assessment Bookkeeping
• Payroll Services
• Bookkeeping Services
• Accountancy Packages
• Cash Flow Solutions
• VAT Returns

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If you're interested in local Newcastle info go here

Bookkeepers in NE1 area, and dialling code 0191.

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