Bookkeepers Newcastle Tyne and Wear (NE1): You're entirely responsible for maintaining accurate, "true and fair" financial and accounting records for at least 6 yrs, if you operate an online store, run a small business or are a sole trader in Newcastle, in accordance with the Companies Act. You may face a hefty fine, and possibly disqualification as a Company Director, if you cannot produce such information. You can carry out these financial recordings on your own, although when you think about the fact that according to Accounting Today magazine over 40% of small business owners spend 80 plus hours every year doing their accounts, it can be more economical to use a professional bookkeeper or accountant.
The time has come to contact a bookkeeper in Newcastle for assistance, if you're overcome with a sense of terror simply thinking about creating profit, loss and fiscal reports, compiling balance sheets, tracking assets and liabilities or writing out ledgers.
BOOKKEEPER OR ACCOUNTANT?
The very first question many small business owners ask is "What exactly is the distinction between an accountant and a bookkeeper?" While in past times a lot of accountants considered the bookkeeping process to be beneath their experience, qualifications and skill-sets, a lot of accountancy companies in Newcastle will now take on the task of bookkeeping, due to software developments over the past ten years. To ensure their bookkeeping services are in step with a dedicated bookkeeper's fee, it's now quite common for accountancy firms to charge a fixed rate for such services. This means the cost of bookkeeping is cheaper than it previously was, and is fantastic news for small business owners in Newcastle as it offers a wider variety of competition within the industry.
When you're considering the differences between a bookkeeper and an accountant in Newcastle, the most notable one is the amount of qualification and training that's necessary for each of these disciplines. An accountant will, at the minimum, hold an accounting degree, and will have also had specialist training in fiscal and business management, and taxes. A bookkeeper in Newcastle will invariably have an understanding of these fiscal disciplines, but may not necessarily have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER IN NEWCASTLE
To explain in the simplest of forms possible, the bookkeeping process involves the careful recording of day to day fiscal transactions of any business enterprise in Newcastle. This will include;
- Highlighting any discrepancies in the financial accounts and rectifying them.
- VAT submissions and recording.
- Monthly reconciliations and reporting.
- Documenting of all financial incomings; including cash, electronic and card payments.
- The billing of clients for work completed or goods.
- Ensuring accounting and double-entry bookkeeping practices are implemented.
- Logging the receipt of invoices and making certain payment is completed punctually.
- Payroll services.
Depending on the level of service you require, e.g. you are willing to perform the bulk of your bookkeeping work; a bookkeeper may only be necessary for double-checking your accounts every once in a while. To enable any mistakes or problems to be found and rectified promptly, this should be done each month as a bare minimum. This can be an extremely cost-effective trade-off, as long as you're confident of remaining up-to-date with your financial transactions without impacting on your day to day business activities.
It's a good bet that if you're considering hiring a bookkeeper in Newcastle, you are currently having problems with the financial recording side of your small business. A professional bookkeeper will be able to give assistance with everything from preparing expense reports, stocktaking and invoicing, to linking the most up-to-date software application with your accounts to facilitate the seamless arrangement of transactional data.
An extremely crucial element of a good bookkeeper is the ability to reconcile accounts payable with cash flow. Which means that instead of paying off a bill immediately, or waiting for an overdue notice, which many small businesses are guilty of doing, your bookkeeper will optimise bill payments to times when your accounts are in good order. This not only keeps you in good stead with suppliers and the businesses who supply you with services, but also ensures your business enterprise is on a good financial footing. Regrettably, this is just one of those balancing acts that can be challenging to accomplish when you are completely focussed on the streamlined running of your day to day business operation.
If you're a sole trader, or run a small business, employing an experienced bookkeeper in Newcastle, also gives them an opportunity to cast an impartial eye over the running of your business. This objective appraisal can enable them to notice business patterns and trends that might have otherwise gone unnoticed. It's not uncommon for a bookkeeper to spot a new opportunity or flag up an area where profits are dropping off. Such key performance indicators (KPI's) are crucial in driving the growth of any business enterprise in Newcastle.
If invoices are sent out by your business it can often be awkward to pursue late payments. Some of that embarrassment can be taken away by having an individual outside your normal business bubble visit your client or make that phone call. To help with resolving the matter, if you have a consistent late or non-payer, there are legal strategies that can be employed by a bookkeeper, so court proceedings can be avoided.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
As a sole trader the requirements for bookkeeping, as set out in law, are quite straightforward. Essentially, sole traders must retain all invoices and receipts, and monitor expenditure and income on a month by month basis. Now, this doesn't seem too tough does it? However, it's still recommended that you hire the expert services of a competent bookkeeper to ensure that it is all done properly. A specialist sole trader bookkeeper in Newcastle will be able to give you advice on what you are able to claim back from HMRC as business expenses. This could include promotional advertising, consumables, bills and rent if working from home, stationery and items such as laptops. If you would like to get more comprehensive advice, and see how your business can grow and develop in the future, speak to a trusted bookkeeper.
BOOKKEEPING FOR ONLINE TRADERS IN NEWCASTLE
There are several niche businesses where a specialist bookkeeping service may be required. If multi-currency processing, cross-border and international taxes, online payment procedures and exchange rate transfers are involved, for example if you manage an online store, you will be wise to hire a bookkeeper in Newcastle who's familiar with these operations. Overseeing inventory on a 24/7 basis is also a vital priority, if that same shop distributes goods that you produce or hold, after all the internet doesn't sleep, therefore neither should your bookkeeping services and software.
In combination with bookkeeping services, it is also possible to provide a remote virtual office. Providing a physical link with their customers, this allows a sole trader or online only business to have a postal address and phone service. Not all bookkeeping businesses in Newcastle will be able to supply this solution, but it is worth discussing if it's needed.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It's not necessary for a certified Newcastle bookkeeper to have a university degree, and a lot of the bookkeeping sector qualifications are held at Diploma and Certificate level. Although there is an ever-increasing choice of online courses available, bookkeeping qualifications can still be obtained through further education universities and colleges, if that is the chosen route.
Bookkeepers are represented by 2 main certification and training organisations:
The Association of Accounting Technicians (AAT): Able to use the letters AATQB, a fully trained member of the Association of Accounting Technicians or AAT will have undergone advanced qualifications and a training schedule in bookkeeping. This promises a high standard of service to their clients which is backed by the organisation, and entitles them to become a approved AAT bookkeeper. To protect the integrity and values of the AAT, a bookkeeper who's a member of the AAT can be subject to disciplinary and tribunal procedures if they are found to have contravened the code of conduct or had a complaint made against them.
The Institute of Certified Bookkeepers (ICB): The largest bookkeeping organisation in the world is the the Institute of Certified Bookkeepers or ICB, and it supplies accreditation to certified bookkeepers, in addition to training and reference material to keep their associated members up-to-speed with the latest trends and innovations.
By viewing the register of AAT or ICB members on their websites, it's possible to determine the accreditations of any professional bookkeeper. It is recommended that you perform this check, before using the services of any professional bookkeeper in Newcastle.
Bookkeeping services are available for people living in in Newcastle and also nearby in: Felling, Heaton, Shieldfield, Benton, Woolsington, Byker, West Jesmond, Felling Shore, Forest Hall, South Gosforth, Kenton, Shield Field, Fenham, Cowgate, Coxlodge, Jesmond, together with these postcodes NE1 2BN, NE1 1PE, NE1 2ET, NE1 2AS, NE1 1ED, NE1 2AG, NE1 1RN, NE1 3DY, NE1 2EQ, NE1 3NH. Local Newcastle Bookkeepers will probably have the postcode NE1 and the telephone dialling code 0191. Checking this can make certain that you access locally based bookkeepers. Newcastle sole traders and business owners can utilise these and numerous other bookkeeping related services.
Outsourced Bookkeeping Newcastle
All businesses in Newcastle should understand the significance of bookkeeping. It helps business people monitor the money left in the bank account, their incomings and outgoings, the total value of their assets and liabilities, and more. With the business owner having to contend with a lot of concerns and issues while running a business, the task of performing the bookkeeping is typically outsourced to freelance bookkeepers or a bookkeeping company in Newcastle.
If a company in Newcastle hires a bookkeeper in order to become an employee, the company will need to commit a considerable amount of money in training the individual for the purpose of working on the bookkeeping tasks. In addition, there's no guarantee that the individual will stay for long in the company. In circumstances like that, the company will have squandered a substantial amount of money for very little return. Apart from that, businesses will need to look for ways and means to offer incentives and benefits to keep the employee in house. These are just a taste of the reasons why companies often choose to enlist the services of professional bookkeepers and bookkeeping companies in Newcastle.
The business owner in Newcastle 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 Newcastle should have a well protected system that can be relied on and trusted.
These professional bookkeeping companies in Newcastle 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 Newcastle.
Newcastle Bookkeeper Tasks
Most Newcastle bookkeepers will be willing to offer you the following bookkeeping services: credit control in Newcastle, bookkeeping quotes in Newcastle, bookkeeping services for pubs in Newcastle, independent bookkeeping services, bookkeeping services for shops Newcastle, bank reconciliation, landlord bookkeeping Newcastle, Xero bookkeeping services in Newcastle, tax returns, management reports, accounting and bookkeeping services in Newcastle, company cash books, bookkeeping services for limited companies, corporation tax returns, bookkeeping services for organisations Newcastle, bookkeeping services for charities, bookkeeping services for freelancers, franchise bookkeeping Newcastle, off-site bookkeeping services, QUOTE FORM provided. We will get back to you with information as soon as we are able.Newcastle, professional bookkeeping services, payroll bookkeeping, Sage bookkeeping, Self-Assessment tax returns in Newcastle, in Newcastle, bookkeeping services, tax return preparation Newcastle, cash flow analysis Newcastle, and more. Listed are just a selection of the duties that are handled by local bookkeepers. Newcastle providers will be happy to tell you about their full range of services. If there happen to be some other Newcastle bookkeeper requirements that you want but don't see here, you can easily mention them on the
Bookkeeper Tyne and Wear
Around Tyne and Wear you'll also discover: Newbottle bookkeepers, Springwell accounts services, Silksworth bookkeeping accountants, Woolsington bookkeeping accountants, Penshaw bookkeepers, Westoe bookkeeping services, Greenside bookkeeper, Gosforth bookkeeping services, Sunniside , Windy Nook bookkeeping accountants, Fenham bookkeepers. Throughout the Tyne and Wear region you'll be able to track down bookkeepers who'll provide high quality services for all your security needs. If you cannot find the perfect in Newcastle itself you shouldn't have any issues finding a good one someplace nearby., Warden Law bookkeeper, Boldon bookkeeper, Monkton bookkeeping accountants, Westoe bookkeeper, Harton , Cullercoats bookkeeping services, Ryhope bookkeeping accountants, Newburn bookkeeping accountants, Fenham bookkeeping, Sunniside , Rainton bookkeeping accountants, Earsdon accounts services, Earsdon bookkeeping, Chopwell bookkeeping, Castletown , Harton bookkeeper, West Boldon bookkeeping, Felling bookkeeping services, Heaton
Bookkeepers Near Newcastle
Also here.: Coxlodge bookkeepers, Kenton bookkeepers, Felling bookkeepers, Woolsington bookkeepers, Heaton bookkeepers, Felling Shore bookkeepers, Shield Field bookkeepers, West Jesmond bookkeepers, Byker bookkeepers, Jesmond bookkeepers, Benton bookkeepers, Forest Hall bookkeepers, Cowgate bookkeepers, Fenham bookkeepers, Shieldfield bookkeepers, South Gosforth and more. All of these towns and villages are catered for by local bookeepers. Newcastle traders and businesses can get pricing for bookkeeping services by going
- Newcastle Cheap Bookkeeping
- Newcastle Self-Assessment Returns
- Newcastle Double-Entry Bookkeeping
- Newcastle Tax Preparation
- Newcastle Self-Assessment Bookkeeping
- Newcastle Cash Flow Solutions
- Newcastle Bookkeeping Services
- Newcastle Credit Control
- Newcastle Sole Trader Bookkeeping
- Newcastle Wages and PAYE
- Newcastle VAT Returns
- Newcastle Payroll Services
- Newcastle Bookkeeping Estimates
- Newcastle Small Business Bookkeeping
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Bookkeepers Around Newcastle: People who live in these Newcastle areas and streets have recently requested bookkeeping services - Bakewell Close, Ashcroft Place, Breedon Close, Broadmeadow Court, Tenby Grove, The Uplands, Stuart Grove, Bennett Place, Cherry Close, Chatsworth Place, Dee Lane, Sark Close, Beattie Avenue, Charles Street, Tynwald Grange, Balcombe Close, Carlos Place, Audley Road, Bamber Place, Stratford Avenue, Clayton Lane, Bankfield Grove, Bradwell Grange, Tollgate Avenue, Acacia Grove, Deans Lane, Castle Keep Mews, Cresswell Avenue, Cypress Grove, as well as the following Newcastle area postcodes: NE1 2BN, NE1 1PE, NE1 2ET, NE1 2AS, NE1 1ED, NE1 2AG, NE1 1RN, NE1 3DY, NE1 2EQ, NE1 3NH.
For the latest local Newcastle information go here
More Tyne and Wear Bookkeepers: More Hebburn, Newcastle, Blaydon, Hetton-le-Hole, Tynemouth, Gateshead, Sunderland, South Shields, Washington, Wallsend, Jarrow, Houghton-le-Spring, Longbenton, Whickham, Whitley Bay and Ryton.:
Bookkeepers in NE1 area, telephone code 0191.
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