Bookkeepers Newtownabbey Northern Ireland (BT36): According to the 2006 Companies Act, if you run a small business, operate an online store or are a sole trader in Newtownabbey, you're responsible for keeping accurate, "true and fair" financial and accounting records for a minimum of 6 yrs. If you can't produce such information, you could be disqualified as a Company Director and face a hefty fine. You can complete these financial recordings on your own behalf, but when you consider that according to Accounting Today magazine over 40% of small businesses spend over 80 hours every year doing their bookkeeping activities, it can be more cost-effective to use a professional bookkeeping service or accountant.
The time has come to get in touch with a bookkeeper in Newtownabbey for advice and guidance, if you're filled with a sense of dread just thinking about tracking liabilities and assets, preparing profit, loss and fiscal reports, writing ledgers or producing balance sheets.
BOOKKEEPER OR ACCOUNTANT?
For many business owners in Newtownabbey, an obvious question when faced with this challenge is "Precisely what is the distinction between a bookkeeper and an accountant?" The fact is, because of software improvements over the past decade many accountancy companies in the Newtownabbey area will undertake the task of bookkeeping, which was at one time considered to be beneath their experience, qualifications and skill-sets. For many accounting firms it's now common practice to charge a set rate for bookkeeping services, to keep them in line with the usual charges of a typical bookkeeper in Newtownabbey. This is fantastic news for business owners as it generates a wider variety of competition within the marketplace and can make your bookkeeping cheaper than initially thought.
The biggest difference between a bookkeeper and an accountant is the standard of training and qualification needed. At least a degree in accounting with specialist training in the field of taxes and other financial and business management, will typically be held by an accountant. A bookkeeper in Newtownabbey will certainly have an understanding of these skills, but might not hold the qualifications or levels of experience and training.
A BOOKKEEPER'S RESPONSIBILITIES
The recording of daily transactions of any business in Newtownabbey, describes the process of bookkeeping in simple terms. This could include, but is not limited to;
- Payroll services.
- Monthly reports and reconciliation.
- Billing of clients for work completed or goods.
- Logging the receipt of invoices and ensuring that payment is completed on time.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Ensuring accounting and double-entry bookkeeping practices are followed at all times.
- VAT recording and submissions.
- Recording of all financial incomings; cash, card and electronic payments included.
In accordance with the level of service you need, e.g. you are willing to perform a large majority of bookkeeping work; a bookkeeper might just be necessary for double-checking your figures on a set schedule. This ought to be done each month as a bare minimum, as this allows for any problems or mistakes to be identified and corrected promptly. This could be the most cost-effective trade-off, so long as it is possible to stay in control of your monetary transactions without affecting your day by day trading operations.
If you are currently looking at hiring a bookkeeping firm in Newtownabbey, whatever your circumstances are, there's a fair chance that you could be having problems with your tax and financial procedures. To enable the seamless arrangement of financial data, a decent bookkeeping service will help you link the latest software application to your accounts, and will offer advice on things such as invoicing, generating expense reports and stocktaking.
One of the most crucial elements of good bookkeeping practice, is the ability to correctly reconcile accounts payable with cash flow. This means that by optimising bill payments to a time when your accounts are buoyant, your bookkeeper will avoid the mistake that many small businesses in Newtownabbey are guilty of i.e. paying a bill straight away, or waiting on an overdue notice. This does not just keep your business enterprise financially stable, but keeps you in favour with suppliers and those people who supply services to you. When you are focussed on the smooth running of your company, this is a balancing act that you may find hard to perform on your own.
Having someone who is not affiliated with the business cast an eye over your financial dealings, is another added benefit of employing a certified bookkeeper in Newtownabbey if you are a sole trader, or for your small business. It could be that business trends and patterns that you have overlooked will therefore be highlighted. It is not uncommon for a bookkeeper to recognise an opportunity or flag an area which is dropping in profits. It is essential for the success and growth of any small business in Newtownabbey, to spot such KPI's (key performance indicators).
If your business sends out invoices it can often be uncomfortable having to pursue a late payment. By having someone outside your normal business situation make that phone call or visit to your customers, some of that embarrassment can be eliminated. To help resolve the issue, if you have a consistent late payer, there are strategies that can be made use of by a professional bookkeeper, so that court proceedings can be averted.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
As a sole trader the requirements for bookkeeping, as laid out by law, start off comparatively straightforward. It's required that sole traders must keep a record of income and expenditure on a monthly basis and retain all receipts and invoices. Whilst this may at first sound simple it is still a wise move to hire the expert services of a bookkeeping company. So that you can claim back any legitimate business expenses from HMRC, a specialist sole trader bookkeeper in Newtownabbey can give you advice on what must be done. This may include stationery goods, promotional advertising, bills and rent if working from home, items such as laptops and consumables. If you'd like to get more detailed advice, and learn how your business can develop and grow in the future, speak to a trusted bookkeeper.
BOOKKEEPING FOR ONLINE TRADERS
There are niches in bookkeeping where the skills of a specialist might be required. You will require a bookkeeper in Newtownabbey who understands exchange rate transfers, international and cross-border taxes, online payment procedures and multi-currency processing, if you manage a store online for example. If the same outlet sells goods that you produce or hold, then managing your stock on a 24/7 basis is a major concern, as I'm sure you'll be aware the internet never sleeps, so nor should your bookkeeping software or services.
Together with your bookkeeping services, a virtual office can also be provided. Providing a physical link with their clients, this enables an online only business or sole trader to have a postal address and phone service. Although this option may not be supplied by all Newtownabbey bookkeeping businesses, it's definitely worth discussing the possibilities if this service is something that could be advantageous.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified bookkeeper in Newtownabbey needn't have a university degree and many qualifications in this field are at Diploma or Certificate level. If the preferred route to qualification is through further education colleges and universities, this possibility is still available, although there there is an ever-growing array of online bookkeeping courses.
There are two key certification and training organisations which represent bookkeepers:
The AAT (Association of Accounting Technicians): The Association of Accounting Technicians or AAT provides advanced qualifications and a training schedule entitling fully trained bookkeepers to use the letters AATQB. They then become licensed AAT bookkeepers, approved by this organisation, which assures a minimum level of service for their clients. If an AAT bookkeeper has a complaint filed against them or is found to have violated the code of practice they could be subject to disciplinary and tribunal processes to preserve the trustworthiness of the AAT.
The ICB or Institute of Certified Bookkeepers: Keeping their members up-to-speed with the latest trends and innovations, the Institute of Certified Bookkeepers (ICB) is the largest bookkeeping organisation on the planet, providing accreditation to qualified bookkeepers, in addition to training and reference material.
By going to their respective websites, it's possible to check out the qualifications of any professional bookkeeper on the register of AAT or ICB members. Implementing this check is strongly recommended before employing any professional bookkeeper in Newtownabbey.
Bookkeeping services are available in Newtownabbey and also in nearby places like: Kells, Dunadry, Whitehead, Randalstown, Pargate, Templepatrick, Antrim, Belfast, Doagh, Ballynure, Whiteabbey, Nutts Corner, Greenisland, Ballyclare, Glengormley, and in these postcodes BT36 4TY, BT36 4PA, BT36 5BS, BT36 4QB, BT36 5BJ, BT36 5AH, BT36 4QU, BT36 4FB, BT36 4ZN, BT36 4QP. Locally based Newtownabbey bookkeeper services will probably have the postcode BT36 and the phone code 028. Checking this should confirm that you access locally based bookkeepers. Newtownabbey sole traders and business owners will be able to benefit from these and numerous other bookkeeping related services.
Bookkeeping Newtownabbey - Outsourcing Options
All businesses in Newtownabbey should understand the significance of bookkeeping. It helps business people monitor the money left in their bank, the sum total of their assets and liabilities, their incomings and outgoings, and so forth. With the owner of the business having to deal with the concerns and issues of operating a business, the task of carrying out the bookkeeping is often outsourced to freelance bookkeepers or a bookkeeping company in Newtownabbey.
If a company in Newtownabbey hires a bookkeeper in order to become an employee, 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 Newtownabbey.
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 Newtownabbey. A majority of these companies promise and deliver quality service. It assumes importance for a business to look into the track record of these Newtownabbey bookkeeping companies when it comes to hiring a third party company for bookkeeping purposes.
These professional bookkeeping companies in Newtownabbey 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.
Newtownabbey Bookkeeper Tasks
Most Newtownabbey bookkeepers will be ready to offer you the following services: bookkeeping for shops Newtownabbey, bookkeeping for societies, company cash books in Newtownabbey, maintaining fixed asset registers, mobile bookkeeping services Newtownabbey, profit & loss reports, charity bookkeeping Newtownabbey, bookkeeping services, payroll bookkeeping, bookkeeping services for small business Newtownabbey, off-site bookkeeping Newtownabbey, PAYE & wages, bookkeeping services for startups, cash flow analysis, professional bookkeeping services, franchise bookkeeping Newtownabbey, bookkeeping services for pubs, Quickbook bookkeeping services, bookkeeping for freelancers, payment services Newtownabbey, personal tax returns Newtownabbey, credit control, business bookkeeping in Newtownabbey, Sage bookkeeping services, bookkeeping prices in Newtownabbey, tax returns Newtownabbey, bookkeeping services for tradesmen, QUOTE FORM provided. We will get back to you with specifics as soon as we can.in Newtownabbey, invoice processing, bookkeeping for clubs, and more. These are just a handful of the duties that are accomplished by local bookkeepers. Newtownabbey professionals will be happy to tell you about their full range of services. If there happen to be other Newtownabbey bookkeeper requirements that you want but cannot see here, you can mention them on the
Northern Ireland Bookkeeper
Around Northern Ireland you'll additionally find: Armagh bookkeeping, Crossgar bookkeeper, Moira bookkeeper, Carryduff bookkeeping accountants, Enniskillen bookkeepers, Rostrevor accounts services, Banbridge bookkeeping, Maghera bookkeepers, Omagh bookkeeping services. All around the Northern Ireland region you should be able to find bookkeepers who'll offer you quality services for all your security needs. If you're unable to identify the perfect in Newtownabbey itself then you should not have any problems finding one near at hand., Dollingstown bookkeeping, Maghaberry bookkeeper, Dromore bookkeeping accountants, Maghera bookkeeping accountants, Newcastle , Dungiven bookkeepers, Randalstown accounts services, Armagh bookkeepers, Eglinton bookkeeping services, Donaghcloney , Castlederg bookkeepers, Portavogie bookkeepers, Ahoghill bookkeeping, Ballycastle accounts services, Millisle , Ahoghill bookkeeping accountants, Antrim bookkeeping, Springvale bookkeeping accountants, Comber bookkeeping, Broughshane
Newtownabbey Bookkeeper Questions
Over the last couple of days I've been analysing the typical questions that folks in Newtownabbey ask about bookkeeping. Quite a few of you sent in helpful questions that I considered to be applicable to this post. The ones which I singled out were, Which bookkeeper certification is best? What are the advantages of a bookkeeper over an accountant? When should I outsource bookkeeping? What are accountant bookkeepers? How is bookkeeping differentiated to accounting? How does bookkeeping help a business in Newtownabbey? Can bookkeeping be done remotely? Should a bookkeeper be bonded? How much do bookkeeping services cost? The majority of these questions hopefully have been answered in this article, and if some remain unanswered we will be adding a bookkeeping "Q&A" feature in the near future. My gratitude goes out to Lucas Hughes, Ilyas Henderson, Ciaran Middleton and Adeline Abbott from Newtownabbey, for taking the time to send in these excellent questions. Offerings were also mailed in by Ariel Lindsay in Nutts Corner, Jace Buchanan in Kells and Ximena Mcleod in Antrim.
Bookkeepers Near Newtownabbey
Also here.: Kells bookkeepers, Doagh bookkeepers, Dunadry bookkeepers, Nutts Corner bookkeepers, Ballynure bookkeepers, Whitehead bookkeepers, Pargate bookkeepers, Greenisland bookkeepers, Glengormley bookkeepers, Antrim bookkeepers, Templepatrick bookkeepers, Belfast bookkeepers, Randalstown bookkeepers, Ballyclare bookkeepers, Whiteabbey and more. Most of these places are catered for by local bookeepers. Newtownabbey businesses and traders can get rates for bookkeeping services by clicking
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Bookkeepers Around Newtownabbey: People who live in these Newtownabbey streets have recently inquired about bookkeeping services - Carn Court, Springwell Road, Christine Mews, Old Throne Park, Sharonmore Gardens, Glenville Green, Kirkdale, Elmwood Grove, Beverley Crescent, Mayfield Village, Coolemoyne Park, Collinbridge Road, Glen Corr Place, Owenreagh Drive, Iona Park, Jordanstown Rise, Tobar-Glen Crescent, Queens Crescent, Wynthorpe Grove, Bramble Grange, Berry Drive, Glengormley Park, Princes Park, Farrier Court, Sharonmore Avenue, Central Park Mallusk, Graymount Grove, Uppertown Drive, Appletree Lane, as well as these local Newtownabbey postcodes: BT36 4TY, BT36 4PA, BT36 5BS, BT36 4QB, BT36 5BJ, BT36 5AH, BT36 4QU, BT36 4FB, BT36 4ZN, BT36 4QP.
If you want local Newtownabbey information click here
Bookkeepers in BT36 area, 028.
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