Bookkeepers Newtownards Northern Ireland (BT22): For anybody in Newtownards who owns a small business, operates an online store or acts as a sole trader, it is their sole responsibility to keep accurate, "true and fair" financial and accounting records for at least 6 yrs. This is laid out by the Companies Act. You might face thousands of pounds in fines, and perhaps disqualification as a Company Director, if you cannot produce these records. You could complete these financial records yourself, but when you think about the fact that according to Accounting Today magazine over forty percent of small business owners spend 80 plus hours every year doing their bookkeeping, it can pay you to employ a professional bookkeeping company or accountant.
It's time to get in touch with a bookkeeper in Newtownards for guidance and advice, if the idea of filling out ledgers, tracking assets and liabilities, preparing profit, loss and financial statements or producing balance sheets fills you with terror.
BOOKKEEPER OR ACCOUNTANT?
"Exactly what is the distinction between an accountant and a bookkeeper?" Is a question that's asked by most business owners in Newtownards. The fact is that even though at one time the bookkeeping process, was regarded as beneath the qualifications, skill set and experience of an accountant, because of significant improvements in software over the past decade, most accountancy companies in the Newtownards area will now undertake bookkeeping. For many accounting firms it is now common practice to charge a set fee for bookkeeping services, so that they're comparable to the normal fees of a dedicated bookkeeper in Newtownards. This means the cost of bookkeeping is cheaper than it was previously, and is great news for business owners in Newtownards as it offers a greater variety of competition within the marketplace.
When you're looking at the differences between an accountant and a bookkeeper in Newtownards, the most notable one is the standard of training and qualification that is needed for each of these disciplines. An accountant will usually a least hold a degree in accounting with further training in taxation and other fiscal and business management. A bookkeeper in Newtownards will definitely have a decent understanding of these fiscal procedures, but might not have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER IN NEWNewtownardsARDS
The act of bookkeeping put simply, is the recording of the day by day monetary transactions of any enterprise or business in Newtownards. This is likely to include, but is in no way limited to;
- Ensuring accounting and double-entry bookkeeping practices are implemented.
- VAT recording and submissions.
- Monthly reporting and reconciliation.
- Billing of customers for work completed or goods.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- Payroll services.
- Recording of all financial incomings; card, cash and electronic payments included.
- Recording the receipt of invoices and making certain payment is completed promptly.
Contingent upon the level of service you require, a professional bookkeeper might just be needed to periodically double-check your records, if you are prepared to do the vast majority of your own bookkeeping work. As a bare minimum this really needs to be done every month, to enable the swift identification and correction of any problems or mistakes. Provided that it is possible to stay on top of your monetary transactions without compromising your everyday business operations, this solution can be an extremely cost-effective trade-off.
Whatever your current situation is, if you're looking to hire a bookkeeping firm there is a fair chance that you may be struggling with the financial recording side of your business in Newtownards. A decent bookkeeping company will be able to provide guidance and advice on everything from stocktaking, invoicing and generating expense reports, to linking your accounts with the most suitable computer software to enable the seamless pull-through of data.
The reconciliation of accounts payable with cash flow is one of the most important aspects of good bookkeeping practice. This means that rather than paying a bill right away, or waiting for a final notice, which a lot of small businesses in Newtownards are guilty of, your bookkeeper will organise bill payments to a time when your finances are in good shape and buoyant. This not only keeps you in the good books of suppliers and those people who supply you with services, but also makes certain that your enterprise or business is on a sound financial footing. When, as an individual, you are focussed on the operation of your business, this is a balancing act that can be tough to accomplish.
If you are a sole trader, or operate a small business, employing a qualified bookkeeper in Newtownards, also gives them the opportunity to cast an expert eye over the financial dealings of your business. It's entirely possible that an impartial appraisal such as this will pinpoint business trends and patterns that you haven't previously noticed. A scenario where a keen eyed bookkeeper flags up an area where profits are decreasing, or identifies a new opportunity which may prove worthwhile, is not at all an unheard of occurrence. Spotting such KPI's (key performance indicators) is crucial for enabling growth in any small business in Newtownards.
Pursuing a late payment can be a fairly awkward scenario for you, if you send out invoices in your business operations. Some of that awkwardness can be removed by having somebody outside your business bubble visit your clients or make that telephone call. There are legal options that a professional bookkeeper can make use of, if you have problems with a persistent late payer, and they can help to resolve the issue before the situation winds up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal bookkeeping requirements if you're a sole trader, are relatively straightforward and basic. In essence, sole traders should retain all receipts and invoices, and keep track of income and expenditure on a month by month basis. While this might sound simple enough it is still recommended that you hire the expertise of a bookkeeping company. A specialist sole trader bookkeeper in Newtownards will be happy to advise you on what you might be able to claim back from HMRC as business expenses. This may include items such as computing equipment, advertising expenses, rent and bills if working from home, stationery goods and printer ink. Chat to your local bookkeeper for more in-depth advice and see how they can help your small business to prosper and grow.
ONLINE TRADERS IN NEWNewtownardsARDS
There are niches in bookkeeping where a specialist may be needed. If, for instance, you manage an online store, you will require a bookkeeper in Newtownards who's familiar with multi-currency processing, cross-border and international taxes, exchange rate transfers and online payments. Controlling your inventory and stock on a 24/7 basis is also a major priority, if the same outlet sells goods that you produce or hold, as I'm sure you are aware the internet doesn't sleep, therefore neither should your bookkeeping services and software.
It's also possible to provide a virtual office, which can be utilised together with your bookkeeping service. This allows a sole trader or online only business to have a telephone service and postal address to provide a physical link with their customers. If this kind of service is needed, it is definitely worth discussing, although this solution will not be supplied by all Newtownards bookkeeping businesses.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified Newtownards bookkeeper doesn't need to have a university degree and a lot of qualifications for the industry are at Certificate and Diploma level. If the preferred route to qualification is via further education colleges and universities, this is still a possibility, whereas there there's an ever-growing choice of bookkeeping courses available online.
There are 2 key certification and training organisations representing bookkeepers:
The Association of Accounting Technicians or AAT: With certified members entitled to use the letters AATQB after their name, the Association of Accounting Technicians or AAT provides advanced qualifications and training. They can then become licensed AAT bookkeepers, backed up by this respected association, which promises a high standard of service for their customers. To preserve the integrity and values of AAT membership, an AAT bookkeeper can be subject to tribunal and disciplinary processes if they are found to have contravened the code of practice or had a complaint against them.
The Institute of Certified Bookkeepers (ICB): Keeping their members informed about the latest trends and innovations, the ICB or Institute of Certified Bookkeepers is the largest organisation of its kind anywhere in the world, providing accreditation to certified bookkeepers, together with training and reference material.
By visiting their respective websites, it's possible to determine the qualifications of any professional Newtownards bookkeeper on the register of ICB or AAT members. It is advised to perform this check, before you employ any local bookkeeper in Newtownards.
Bookkeeping services are available in Newtownards and also in: Groomsport, Carrowdore, Scrabo Tower, Crawfordsburn, Helens Bay, Ballywater, Millisle, Dundonald, Conlig, Ballygowan, Greyabbey, Donaghee, as well as in these postcodes BT23 4EX, BT23 4FH, BT23 4NZ, BT23 4GP, BT23 4JU, BT23 4NJ, BT23 4NX, BT23 4NY, BT23 4ET, BT23 4AQ. Locally based Newtownards bookkeeper services will probably have the postcode BT22 and the dialling code 02891. Verifying this should make sure that you're accessing local bookkeepers. Newtownards sole traders and business owners can utilise these and many other comparable services.
Franchise bookkeeping Newtownards.
Bookkeeping Enquiries Northern Ireland
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Newtownards Bookkeeper Tasks
Most Newtownards bookkeepers will be willing to provide you with the following services: bookkeeping quotes, QUOTE FORM provided. We'll be in touch with specifics as soon as we are able., management reports Newtownards, company cash books, bookkeeping for home-based businesses, bookkeeping services for pubs, accounting and bookkeeping in Newtownards, Quickbook bookkeeping, bookkeeping for startups, payment services in Newtownards, accountancy packages, bookkeeping services, bookkeeping for organisations in Newtownards, VAT returns, bookkeeping and accounting services, landlord bookkeeping Newtownards, bookkeeping for retail outlets, bookkeeping services for limited companies Newtownards, tax preparation, corporation tax returns Newtownards, bookkeeping for societies in Newtownards, partnership returns, letting agent bookkeeping Newtownards, bookkeeping services for freelancers, bookkeeping for small business, profit & loss reports in Newtownards, invoice processing in Newtownards, bookkeeping for restaurants, and more. These are just a selection of the tasks that are performed by local bookkeepers. Newtownards providers will be happy to inform you of their full range of services. If there happen to be other Newtownards bookkeeper requirements that you want but can't see here, you can easily mention them on the
Northern Ireland Bookkeeper
Around Northern Ireland you can additionally find: Sion Mills bookkeepers, Killyleagh accounts services, Crumlin bookkeeper, Maghaberry bookkeeping, Saintfield bookkeepers, Ballygowan bookkeepers, Ballygowan accounts services, Hillsborough bookkeeping accountants, Kilrea , Glenavy bookkeepers, Kilrea bookkeepers. All around the Northern Ireland region you should be able to locate bookkeepers who will provide you with high quality services for all your security requirements. If you're unable to identify the ideal in Newtownards itself you will surely be able to find a decent one near at hand., Rathfriland bookkeeping accountants, Cullybackey bookkeeper, Dundonald bookkeeping services, Hillsborough bookkeeping, Coalisland , Keady accounts services, Crossgar bookkeeper, Kilrea bookkeeping services, Bessbrook bookkeeping services, Maghaberry , Strathfoyle bookkeeping accountants, Ahoghill bookkeepers, Broughshane bookkeeper, Ballykelly bookkeeping services, Kilrea , Killyleagh bookkeepers, Glenavy accounts services, Strathfoyle bookkeeping, Markethill bookkeepers, Glenavy
Bookkeepers Near Newtownards
Also here.: Greyabbey bookkeepers, Conlig bookkeepers, Dundonald bookkeepers, Donaghee bookkeepers, Ballygowan bookkeepers, Carrowdore bookkeepers, Millisle bookkeepers, Ballywater bookkeepers, Crawfordsburn bookkeepers, Scrabo Tower bookkeepers, Helens Bay bookkeepers, Groomsport and more. The majority of these villages and towns are catered for by local bookeepers. Newtownards businesses and traders can get pricing for bookkeeping services by going
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Bookkeepers Around Newtownards: People who live in the following areas have just recently enquired about bookkeeping services - Conway Square, Cronstown Cottage Avenue, Old Belfast Road, Dorrandale Road, Finlays Road, Ballyrogan Park, Old Forge Avenue, Crossnamuckley Road, Rochester Heights, William Street, Manse Road, Heron Ridge, Holywood Road, Blackwood Green, Newtown Avenue, South Street Mews, John Street Mews, Crawfordsburn Way, Tullynagardy Lane, Stewart Road, Greenlea Crescent, Corry Street, Drumhirk Way, Chesterbrook Crescent, Quinton Park, Orchard Lane, Regency Gardens, Abbot Court, Hillcrest Avenue, as well as the following local Newtownards postcodes: BT23 4EX, BT23 4FH, BT23 4NZ, BT23 4GP, BT23 4JU, BT23 4NJ, BT23 4NX, BT23 4NY, BT23 4ET, BT23 4AQ.
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Bookkeepers in BT22 area, telephone code 02891.
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