Bookkeepers Newcastle Tyne and Wear (NE1): For anybody in Newcastle who acts as a sole trader, operates an online store or runs a small business, it's their sole responsibility to maintain accurate, "true and fair" accounting and financial records for a minimum of 6 yrs. This is according to the Companies Act. You could face thousands of pounds in fines, and possibly Company Director disqualification, if you are unable to produce such records. There's a substantial investment of time involved with maintaining these financial records yourself, and it can be more cost-effective to use a professional bookkeeping service or accountant, especially when you consider that according to the magazine Accounting Today over forty percent of small businesses spend eighty hours plus annually on their bookkeeping activities.
The time has come to contact a bookkeeper in Newcastle for advice, if you are filled with dread just thinking about compiling balance sheets, creating profit, loss and fiscal reports, writing ledgers or tracking liabilities and assets.
BOOKKEEPER OR ACCOUNTANT?
For many business owners in Newcastle, an obvious question when facing this dilemma is "What exactly is the difference between a bookkeeper and an accountant?" The reality is that while at one time the bookkeeping process, was considered to be beneath the experience, skill set and qualifications of an accountant, because of software developments over the past 10 yrs or so, most accountancy firms in Newcastle will now consider taking on bookkeeping tasks. It is now quite common for accounting companies to have a set rate for bookkeeping services commensurate with a typical bookkeeper's fee. Business owners are now cashing in on this, since it generates a wider variety of competition within the marketplace and can make the cost of bookkeeping much more affordable than it would previously have been.
The amount of qualification and training that's required is the big difference between an accountant and a bookkeeper. At least an accounting degree with specialist training in the field of taxation and other financial and business management, will generally be held by an accountant. Whilst having a fair grasp of such procedures, a bookkeeper in Newcastle might not necessarily have the same levels of training and experience, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER
To explain in the simplest of forms possible, bookkeeping involves the careful recording of daily monetary transactions of any business in Newcastle. This may include;
- Logging invoices received and making sure that payment is completed promptly.
- The billing of clients for work completed or goods.
- VAT recording and submissions.
- Monthly reports and reconciliation.
- Recording of all financial incomings; cash, electronic and card payments included.
- Payroll services.
- Highlighting any discrepancies in financial accounts and rectifying them.
- Making sure that accounting and double-entry bookkeeping practices are followed.
Subject to service level you are looking for, e.g. whether you are willing to carry out the larger part of your bookkeeping work; a bookkeeper might only be needed to double check your records every once in a while. To enable any mistakes or problems to be uncovered and corrected quickly, this should really be done each month as a bare minimum. This trade-off can sometimes be the most affordable compromise if you're able to stay up-to-date with your daily financial transactions and trading.
Whatever your current situation is, if you are seriously thinking of hiring a bookkeeping firm it is fairly likely that you may be struggling with the financial recording side of your small business in Newcastle. A professional bookkeeping service will be able to offer advice and guidance on everything from creating expense reports, invoicing and stocktaking, to linking your business accounts with the most suitable software to facilitate the seamless organisation of transactional data.
An extremely important element of effective bookkeeping is being able to reconcile accounts payable with cash flow. This means that by organising the payment of bills to a time when your accounts are buoyant and in good shape, your bookkeeper will avoid the thing that most small businesses are guilty of i.e. paying an outstanding bill straight away, or waiting on an overdue notice. This does not just keep you in the good books of suppliers and those who supply services to you, but also makes sure that your business is financially sound. When, as an individual, you are purely focussed on running your business, this can be a balancing act that's tricky to accomplish.
Having somebody who's not connected to the business cast an eye over your financial dealings, is another added benefit of employing a certified bookkeeper in Newcastle for your small business or if you are a sole trader. It could be that business patterns and trends that you have overlooked will therefore be pinpointed. A bookkeeper spotting an opportunity or flagging an area of the business where profits are falling, is not at all uncommon. For the long-term growth of any business in Newcastle, it is essential that such key performance indicators (KPI's) are spotted early.
Chasing up late payments can be a fairly awkward situation for you, if you send out invoices as part of your business operations. If that phone call or visit to your customers is done by someone outside your business bubble, it is possible for most of that apprehension to be taken away. If you are troubled with a repeating late payer there are legal techniques that a professional bookkeeper can use to help to clear up the situation before the issue ends up in a claims court.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The bookkeeping requirements for a sole trader, as set out in law, are relatively straightforward and easy to understand. It is required that sole traders should monitor income and expenditure from month to month and save all invoices and receipts. Whilst this may sound simple enough it is still recommended that you hire the services of a bookkeeper. A specialist sole trader bookkeeper in Newcastle will be happy to advise you on what you're able to claim back from HMRC as business expenses. This could include bills and rent if you work from home, stationery goods, consumables, promotional advertising and items such as computing equipment. For more in-depth advice, talk to your bookkeeper, and learn how they might help your business to thrive and grow going forward.
BOOKKEEPING FOR ONLINE TRADERS
Specialised bookkeepers are required now and again for specific niches in bookkeeping. As an example, if you run an online store, you'll need to employ a bookkeeper in Newcastle who is familiar with online payment procedures, exchange rate transfers, multi-currency processing and international and cross-border taxes. If you hold or produce the merchandise that you sell on that shop, then it is going to be a massive priority for your bookkeeping services and software to control your inventory on a 24 hours a day basis, because of course, the internet does not sleep.
It's also possible to provide a virtual office, that can be used together with your bookkeeping package. Offering a physical connection to their customers, this enables an online only business or sole trader to have a phone service and postal address. Not all bookkeepers in Newcastle will be willing to supply this option, but it's worthwhile discussing the possibilities if it's something that could be of benefit.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified Newcastle bookkeeper needn't hold a university degree and a great many the industry qualifications are at Certificate and Diploma level. If the chosen route to qualification is via further education universities and colleges, this is still a possibility, although there there's an ever-increasing selection of online bookkeeping courses.
Training and certification for bookkeepers is mostly provided by two major organisations:
The AAT or Association of Accounting Technicians: Providing advanced qualifications and a training schedule, the AAT or Association of Accounting Technicians, entitles fully trained members to use the letters AATQB. They can then become certified AAT bookkeepers, backed up by this well-respected association, which guarantees a level of service for their clients. AAT bookkeepers can can be subject to tribunal and disciplinary processes if a complaint is made against them or they are found to have broken the code of conduct. This helps to protect the trustworthiness of AAT membership.
The Institute of Certified Bookkeepers (ICB): The Institute of Certified Bookkeepers or ICB is the largest organisation of its kind on the planet and provides accreditation to certified bookkeepers, along with reference material and training to keep their associated members up-to-date.
The accreditations of any bookkeeper can be checked on the register of AAT or ICB members on their respective websites. Prior to retaining any bookkeeping service in Newcastle, it's always a good idea to carry out these necessary checks.
Bookkeeping services are available in Newcastle and also in nearby places like: Byker, Felling, Felling Shore, Heaton, Shield Field, Gateshead, Cowgate, West Jesmond, Kenton, South Gosforth, Longbenton, Forest Hall, Coxlodge, Woolsington, Benton, Jesmond, Fenham, Shieldfield, together with these postcodes NE1 1SY, NE1 1XU, NE1 2HJ, NE1 3AD, NE1 3JF, NE1 3NH, NE1 2QH, NE1 3DE, NE1 3NG, NE1 1SA. Local Newcastle Bookkeepers will most likely have the dialling code 0191 and the postcode NE1. Verifying this can confirm you're accessing local bookkeepers. Newcastle sole traders and business owners are able to utilise these and countless other related services.
Tyne and Wear Bookkeeping Enquiries
Current Tyne and Wear bookkeeping enquiries: Dale Kendrick in North Gosforth, Tyne and Wear was enquiring about a bookkeeper for his public house. Braxton Michael from Hetton le Hole, Tyne and Wear was enquiring about bookkeeping services for his sports shop. Tommy-Lee Head from Cullercoats, Tyne and Wear was trying to find bookkeeping services for his bricklaying business. Scarlett Barrett in Fence Houses was trying to find bookkeeping services for her internet sales business. Kit Nuttall in Birtley was hunting for a bookkeeper for his construction firm. Natalia Daniel in Low Fell was trying to find a bookkeeper to do her Self-Assessment tax returns. Anaya Odonnell in Lobley Hill, Tyne and Wear was asking about bookkeeping services for her coffee shop. Edison Mcbain in Birtley, Tyne and Wear was searching for bookkeeping for his rugby club. All of these local people searched for "Bookkeepers Tyne and Wear" and came across this web page on Google, Bing or Yahoo.
Newcastle Bookkeeper Tasks
Most bookkeepers in Newcastle will be willing to provide you with the following accounting and bookkeeping services: bookkeeping for sole traders in Newcastle, payment services, bookkeeping for restaurants, cash flow analysis, wages & PAYE, accounting and bookkeeping services, mobile bookkeeping services, bookkeeping services for self-employed, management accounts Newcastle, bookkeeping for charities in Newcastle, company cash books, VAT returns, bookkeeping for freelancers in Newcastle, bookkeeping for shops Newcastle, tax preparation in Newcastle, bookkeeping services for small business Newcastle, bookkeeping for organisations, bookkeeping services for clubs, bookkeeping services for retail outlets, bookkeeping services for startups, bookkeeping services for societies in Newcastle, independent bookkeeping services, accountancy packages, general bookkeeping services, bookkeeping services for pubs, bank reconciliations, and more. These are just some of the tasks that are performed by local bookkeepers. Newcastle companies will be happy to inform you of their full range of services. If there happen to be different Newcastle bookkeeper requirements that you want but can't see here, you can easily mention them on the QUOTE FORM provided. We'll be in touch with information as soon as we are able.
Tyne and Wear Bookkeeper
In the Tyne and Wear area you will likewise find: East Boldon bookkeeping accountants, Forest Hall accounts services, Crawcrook bookkeeper, Brunswick bookkeeping, Fence Houses bookkeeping, Crawcrook bookkeeping, Crawcrook bookkeeping accountants, Throckley bookkeeper, Swalwell bookkeeping accountants, West Boldon accounts services, North Shields bookkeeping, Felling accounts services, Blakelaw bookkeeper, Blakelaw bookkeeping accountants, North Gosforth bookkeeper, Sheriff Hill bookkeeping accountants, Backworth bookkeeping, Cullercoats bookkeeping, Burdon bookkeeping services, The Boldons bookkeepers, Lobley Hill bookkeepers, Felling bookkeepers, Springwell bookkeeping, Dinnington bookkeeper, East Boldon bookkeeping, Felling bookkeeping, Brunswick bookkeepers, Newburn bookkeeping services, Rickleton bookkeeping services. All throughout the Tyne and Wear region it should be possible to track down bookkeepers who will offer high quality services for your security needs. If you can't identify a satisfactoryin Newcastle itself you shouldn't have any issues finding a good one somewhere nearby.
Bookkeepers Near Newcastle
Also here.: Benton bookkeepers, Shield Field bookkeepers, Heaton bookkeepers, Felling Shore bookkeepers, South Gosforth bookkeepers, Shieldfield bookkeepers, Felling bookkeepers, Cowgate bookkeepers, Coxlodge bookkeepers, Forest Hall bookkeepers, Gateshead bookkeepers, Woolsington bookkeepers, Kenton bookkeepers, West Jesmond bookkeepers, Longbenton bookkeepers, Jesmond bookkeepers, Fenham bookkeepers, Byker and more. All these areas are served by local bookeepers. Newcastle traders and businesses can get pricing for bookkeeping services by going
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Bookkeepers Around Newcastle: People living in these local Newcastle areas have recently enquired about bookkeeping services - St Bernards Road, Tynwald Grange, Dale Close, Shawport Avenue, Denbigh Close, The Parade, Burlington Avenue, Templar Crescent, The Midway, Stanton Close, Camillus Road, Coombesdale, Beasley Avenue, Chiltern Place, Cavendish Grove, Brooke Place, Balcombe Close, Clover Road, Trentham Road, Charles Street, The Squirrels, Brookwood Close, Ashley Grove, The Rowe, Stretton Road, Cooper Street, Barford Road, The Elms, Castel Close, Bluebell Drive, as well as these Newcastle area postcodes: NE1 1SY, NE1 1XU, NE1 2HJ, NE1 3AD, NE1 3JF, NE1 3NH, NE1 2QH, NE1 3DE, NE1 3NG, NE1 1SA.
Newcastle Bookkeeping Jobs: Get bookkeeping jobs in Newcastle here: Bookkeeping Jobs Newcastle
More Tyne and Wear Bookkeepers: More Newcastle, Whitley Bay, Tynemouth, Wallsend, Jarrow, Hebburn, Ryton, Houghton-le-Spring, Hetton-le-Hole, South Shields, Washington, Longbenton, Sunderland, Gateshead, Blaydon and Whickham.:
For the best local Newcastle information click here
Bookkeepers in NE1 area, (dialling code 0191).
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