Bookkeepers Portsmouth

Portsmouth Bookkeeping Services

Bookkeepers Portsmouth Hampshire (PO1): If you are a sole trader, run an online store or own a small business in Portsmouth, you're entirely responsible for keeping accurate, "true and fair" accounting and financial records for a minimum of 6 years as stated by the Companies Act (2006). If you can't produce these records, you might be disqualified as a Company Director and face a hefty fine. It can pay to employ a professional bookkeeper or accountant to do this for you, as according to the magazine Accounting Today over 40% of small businesses spend over eighty hours per year on their bookkeeping activities, which is a significant investment of time, and could be more effectively spent on actually running your business.

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It's high time to contact a bookkeeper in Portsmouth for assistance, if the very thought of preparing profit, loss and fiscal reports, filling out ledgers, tracking liabilities and assets or producing balance sheets fills you with a sense of dread.

BOOKKEEPER OR ACCOUNTANT?

Bookkeepers Portsmouth Hampshire (PO1)

A frequent question that is asked by a lot of people in Portsmouth is "What exactly is the distinction between a bookkeeper and an accountant?" The truth is that while in past times a lot of accountants considered the task of bookkeeping to be beneath their experience, skill-sets and qualifications, a lot of accountancy firms in the Portsmouth area will now take on bookkeeping, because of software developments over the past decade or so. It's now fairly common for accounting companies to have a flat rate for bookkeeping services in line with a typical bookkeeper's fee. Business owners are now cashing in on this, since it gives a broader range of competition within the industry and can make the cost of bookkeeping more affordable than it would previously have been.

It is essentially the level of training and qualification that's required for each of these disciplines, that indicates the biggest difference between an accountant and a bookkeeper in Portsmouth. An accountant will, at a minimum, hold an accounting degree, and should have also had further training in fiscal and business management, and taxes. While not necessarily holding the same financial qualifications, or having this level of experience and training, a bookkeeper in Portsmouth will still have a good grasp of all such skills.

A BOOKKEEPER'S RESPONSIBILITIES

Put simply, the bookkeeping process is the recording of the day to day transactions (financial) of any enterprise or business in Portsmouth. This can include, but is not limited to;

  • Highlighting any discrepancies in the financial accounts and rectifying them.
  • Monthly reconciliation and reporting.
  • Logging of all financial incomings; cash, electronic and card payments included.
  • Documenting the receipt of invoices and making sure payment is completed by the due date.
  • VAT submissions and recording.
  • Payroll services.
  • The billing of clients for goods or work completed.
  • Making sure that accounting and double-entry bookkeeping practices are followed at all times.
Bookkeeping Portsmouth UK (023)

Based upon service level you require, a professional bookkeeper may only be needed to periodically double-check your records, if you're in a position to carry out the majority of bookkeeping work yourself. At the bare minimum this ought to be done each month, to facilitate the quick identification and rectifying of any mistakes or problems. Provided that you're confident of keeping up-to-date with your financial transactions without having a negative impact on your everyday business activities, this trade-off can be the most affordable solution.

Whatever the circumstances are with your business, if you're seriously looking to hire a bookkeeping firm in Portsmouth, it is fairly likely that you might be fretting over the process of recording your financial transactions. A good bookkeeping service will be able to help you to link your business accounts with the most suitable software program to facilitate the seamless processing of financial data, and will give guidance and advice on such things as stocktaking, invoicing and preparing expense reports.

Bookkeeping Enquiries in Portsmouth Hampshire

The reconciliation of accounts payable with cash flow is one of the most crucial elements of good bookkeeping practice. Which means that instead of paying an outstanding bill right away, or waiting on a final notice, which most small businesses are guilty of, your bookkeeper will arrange the payment of bills to a time when your finances are in good shape and buoyant. As well as keeping your business financially sound, this also maintains your good standing with your suppliers and service providers. When you're completely focussed on the smooth running of your business, this is a balancing act that can be tough to perform as an individual.

Bookkeeper Near Portsmouth Hampshire

If you're a sole trader, or operate a small business, employing a professional bookkeeper in Portsmouth, also gives them the opportunity to cast a critical eye over the operation of your business. This objective assessment can allow them to see business patterns and trends that might have gone unnoticed. A situation where an intelligent bookkeeper flags an area where profits are dropping off, or identifies an opportunity which could prove lucrative, is by no means an uncommon occurrence. For the success of any enterprise in Portsmouth, it is vital that these KPI's (key performance indicators) are spotted early.

Having to pursue late payments can be an embarrassing scenario for you, if you send out invoices as part of your business operations. If that visit to your client or phone call is made by a person from outside your business situation, it is possible for some of that embarrassment to be removed. To help with resolving the issue, if you're troubled with a consistent late or non-payer, there are legal techniques that can be employed by a professional bookkeeper, so court proceedings can be avoided.

SOLE TRADER'S BOOKKEEPING REQUIREMENTS

The legal requirements for bookkeeping if you are a sole trader, are reasonably straightforward and basic. It's stated that a sole trader must track expenditure and income from month to month and keep all invoices and receipts. Now, this does not seem too hard does it? However, it's still advisable to retain the expertise of a bookkeeping company to ensure that it's all done accurately. Advising you on what valid business expenses you may be able to claim back, a specialist sole trader bookkeeper in Portsmouth will deal with HMRC on your behalf. This could include stationery, consumables, advertising, rent and bills if working from home and items such as computing equipment. If you would like to get more detailed advice, and discover how your business can develop and grow in the future, chat to a trusted bookkeeper.

BOOKKEEPING FOR ONLINE TRADERS

Bookkeeping Services Portsmouth

There are several niche businesses where a specialist bookkeeping service might be needed. If you run an online store for example, you'll need a bookkeeper in Portsmouth who's familiar with international and cross-border taxes, multi-currency processing, exchange rate transfers and online payment procedures. Monitoring your stock on a 24 hours a day basis is also a huge concern, if the same shop distributes goods that you hold or produce, as I'm sure you will appreciate the internet never sleeps, therefore nor should your bookkeeping software or services.

A remote virtual office can also be provided together with your bookkeeping service. This enables an online only business or sole trader to provide a physical link with their customers, via a phone service and postal address. It's definitely worth discussing this possibility if it's something that could be of benefit, although not all bookkeeping companies in Portsmouth will supply this solution.

PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS

Many qualifications for the bookkeeping sector are at Diploma or Certificate level, and a professional Portsmouth bookkeeper doesn't need to hold a degree. Although there is an ever-growing choice of online courses available, bookkeeping qualifications can still be obtained via further education colleges and universities, if that is the preferred route.

There are essentially 2 principal organisations that offer certification and training to bookkeepers:

Local Bookkeeping Services Portsmouth (PO1)

The AAT (Association of Accounting Technicians): The AAT (Association of Accounting Technicians) provides advanced qualifications and training entitling a fully certified bookkeeper to use the letters AATQB. This guarantees a standard of service to their clients which is backed up by the association, and enables them to become a certified AAT bookkeeper. To preserve the trustworthiness of the AAT, if a bookkeeper who's associated with the AAT has a complaint against them or is found to have violated the code of conduct they could be subject to tribunal and disciplinary procedures.

The Institute of Certified Bookkeepers (ICB): Providing accreditation to qualified bookkeepers, together with reference material and training to ensure their members are informed about the latest trends and developments, the Institute of Certified Bookkeepers or ICB is the largest organisation in the world.

The accreditations of any professional Portsmouth bookkeeper can be verified on the register of AAT or ICB members on their websites. Prior to hiring the services of any bookkeeping company in Portsmouth, it is definitely a great idea to carry out these necessary checks.

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Book Bookkeeper in Portsmouth UK

Bookkeeping services are available in Portsmouth and also nearby in: Hayling Island, Eastney, Alverstoke, Fratton, Lee on the Solent, Cosham, Porchester, Copnor, Widley, Milton, Hilsea, and in these postcodes PO1 1HH, PO1 2DS, PO1 2DF, PO1 1LP, PO1 1EP, PO1 2AZ, PO1 1DH, PO1 1QD, PO1 1JH, PO1 1DA. Local Portsmouth bookkeeper services will likely have the postcode PO1 and the telephone dialling code 023. Verifying this can confirm you access local bookkeepers. Portsmouth sole traders and business owners will be able to benefit from these and lots of other related services.

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Franchise bookkeeping Portsmouth.

Hampshire Bookkeeper

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Around Hampshire you'll likewise find: Headley bookkeeping, Chandlers Ford bookkeepers, Anna Valley accounts services, Lindford accounts services, Boldre bookkeepers, Binsted bookkeeping services, Rushmoor bookkeeping accountants, East Meon accounts services, Kings Somborne bookkeeping, Cowplain bookkeeping, Ecchinswell bookkeepers, Kings Somborne bookkeeping services, West End accounts services, Amport bookkeeping services, Nursling bookkeeper, Cove bookkeeping, Exton accounts services, Crookham Village bookkeeper, Wickham bookkeeper, Curdridge bookkeeping services, Abbotts Ann bookkeeping accountants, Owslebury bookkeeping, Grayshott bookkeeping, Hursley bookkeeper, Totton and Eling bookkeepers, Colbury bookkeeping, Exton bookkeeper, Copythorne bookkeeping services, Kings Somborne bookkeepers, Lockerley accounts services, Shipton Bellinger bookkeeper. In every part of the Hampshire region you will be able to track down bookkeepers who will provide quality services for your security needs. If you cannot find a satisfactory bookkeeper in Portsmouth itself then you should not have any issues finding a good one nearby.

Portsmouth Bookkeeper Tasks

Bookkeeper Tasks Portsmouth

Most bookkeepers in Portsmouth will be prepared to provide you with the following accounting and bookkeeping services: Self-Assessment tax returns, Quickbook bookkeeping services in Portsmouth, general bookkeeping services, assistance with registering for self-employment in Portsmouth, mobile bookkeeping services Portsmouth, double-entry bookkeeping in Portsmouth, charity bookkeeping Portsmouth, payment services in Portsmouth, tax return preparation, bank reconciliation, profit & loss reports, independent bookkeeping services Portsmouth, bookkeeping for tradesmen, bookkeeping for home-based businesses, partnership tax returns, accounting and bookkeeping services, accountancy packages Portsmouth, bookkeeping for organisations, tax returns, bookkeeping for pubs, cheap bookkeeping services, management reports in Portsmouth, VAT returns in Portsmouth, invoice processing Portsmouth, bookkeeping services for restaurants, Xero bookkeeping services in Portsmouth, Sage bookkeeping, bookkeeping for limited companies, and more. These are just a few of the tasks that are handled by local bookkeepers. Portsmouth companies will keep you informed about their full range of services. If there are additional Portsmouth bookkeeper requirements that you want but don't see here, you can easily list them on the QUOTE FORM provided. We'll get back to you with information just as soon as we are able.

PORTSMOUTH BOOKKEEPING QUOTES

Bookkeepers Near Portsmouth

Also find: Eastney bookkeepers, Hayling Island bookkeepers, Milton bookkeepers, Copnor bookkeepers, Cosham bookkeepers, Lee on the Solent bookkeepers, Fratton bookkeepers, Hilsea bookkeepers, Alverstoke bookkeepers, Porchester bookkeepers, Widley bookkeeper and more. All of these towns and villages are covered by local bookeepers. Portsmouth businesses and traders can get fees for bookkeeping services by going here.

Bookkeeping Services Portsmouth

Find a Bookkeeper in Portsmouth Here
Portsmouth Bookkeeping Services (023)
  • Portsmouth Tax Preparation
  • Portsmouth Small Business Bookkeeping
  • Portsmouth VAT Returns
  • Portsmouth Sole Trader Bookkeeping
  • Portsmouth Bookkeeping Estimates
  • Portsmouth Bookkeeping Services
  • Portsmouth Double-Entry Bookkeeping
  • Portsmouth Bank Reconciliations
  • Portsmouth Cheap Bookkeeping
  • Portsmouth Credit Control
  • Portsmouth Payroll Services
  • Portsmouth Self-Assessment Bookkeeping
  • Portsmouth Profit and Loss Reports
  • Portsmouth Self-Assessment Returns

Bookkeepers Around Portsmouth: People living in these areas and roads have just recently enquired about bookkeeping services - Algiers Road, Troon Crescent, Coleridge Road, Chipstead Road, Bryher Island, Clock Street, Broad Street, Curtis Mead, Cygnet Road, Sixth Avenue, All Saints Road, Sunningdale Road, Brighstone Road, South Avenue, A'becket Court, Bernard Avenue, Cuthbert Road, Sevenoaks Road, The Ridings, Birdlip Road, Baythorn Close, Bapaume Road, Spinnaker Drive, Almondsbury Road, Augustine Road, Clarendon Street, Dellfield Close, Colebrook Avenue, Burlington Road, Sidmouth Avenue, as well as these Portsmouth area postcodes: PO1 1HH, PO1 2DS, PO1 2DF, PO1 1LP, PO1 1EP, PO1 2AZ, PO1 1DH, PO1 1QD, PO1 1JH, PO1 1DA.

Portsmouth Bookkeeping Jobs: Find bookkeeping jobs in Portsmouth by clicking here: Bookkeeping Jobs Portsmouth

For local Portsmouth info take a look here

Bookkeepers in PO1 area, and dialling code 023.

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(This bookkeepers Portsmouth page was last updated on 25-01-2023)