Bookkeepers Prescot

Prescot Bookkeeping Services

Bookkeepers Prescot Merseyside (L34): For any individual in Prescot who acts as a sole trader, owns a small business or runs an online store, it's their sole responsibility to maintain "true and fair", accurate accounting and financial records for at least 6 yrs. This is outlined by the Companies Act. If you're unable to produce such information you could face a fine of thousands of pounds and possible Company Director disqualification. It can be more cost-effective to use a professional accountant or bookkeeper to accomplish this for you, because according to Accounting Today over 40% of small businesses spend eighty hours plus per year on their bookkeeping, which is a considerable investment of time, and may be more effectively spent on actually running your business.

Free Prescot Bookkeepers Quotes

It's time to contact a bookkeeper in Prescot for guidance, if just the thought of compiling balance sheets, writing ledgers, creating profit, loss and financial statements or tracking liabilities and assets fills you with a sense of dread.


Bookkeepers Prescot Merseyside (L34)

A frequent question that's asked by a lot of business owners in Prescot is "What is the difference between a bookkeeper and an accountant?" In former days it was often considered to be beneath the experience, qualifications and skill set of an accountant to do bookkeeping, however because of huge software improvements over the past ten years or so, many bookkeeping procedures will now be taken on by accountancy firms in the Prescot area. Most accountancy firms now have a set fee for bookkeeping services, to keep them consistent with what an independent bookkeeper in Prescot would routinely charge. This is good news for business owners because it generates a wider variety of competition within the industry and can make your bookkeeping costs cheaper than initially thought.

The standard of training and qualification that's required is the main difference between an accountant and a bookkeeper. An accountant will usually hold at least a degree in accounting with specialist training in the field of taxes and other business and fiscal management. Although not necessarily holding the same financial qualifications, or having this level of experience and training, a bookkeeper in Prescot will still have a fair grasp of all such disciplines.


To explain in the simplest of forms, the bookkeeping process involves the careful recording of day to day transactions of any business or enterprise in Prescot. This is likely to include, but is by no means limited to;

  • Logging of all financial incomings; electronic, cash and card payments included.
  • Documenting invoices received and making certain payment is completed promptly.
  • Monthly reconciliations and reports.
  • Making sure that accounting and double-entry bookkeeping practices are followed.
  • Highlighting and rectifying any discrepancies in financial accounts.
  • Payroll services.
  • Billing of customers for goods or work completed.
  • VAT recording and submissions.
Bookkeeping Prescot UK (0151)

Depending on service level you're looking for, e.g. you are able to perform the bulk of bookkeeping work; a professional bookkeeper might just be necessary for double-checking your accounts on a set schedule. To allow for any problems or mistakes to be identified and rectified quickly, this ought to be every month as a bare minimum. This could be an extremely cost-effective trade-off, provided that it is possible to stay in control of your financial transactions without compromising your daily business operations.

Whatever your situation, if you are looking at hiring a bookkeeping company there's a fair chance that you might be getting stressed about the financial recording aspects of your business in Prescot. A good bookkeeping service will be able to provide assistance with everything from stocktaking, creating expense reports and invoicing, to linking your accounts with the latest computer software to enable the seamless pull-through of data.

Bookkeeping Enquiries in Prescot Merseyside

The reconciliation of accounts payable with cash flow is one of the most crucial elements of a good bookkeeping service. Which means that instead of paying a bill right away, or waiting on a final notice, which many small businesses are guilty of, your bookkeeper will organise bill payments to a time when your finances are in the best possible position. This doesn't just keep your business or enterprise financially sound, but keeps you in the good books of suppliers and those people who supply you with services. This is a juggling act that can be hard to perform as an individual when you are primarily focussed on the smooth running of your business.

Bookkeeper Near Prescot Merseyside

Having a person who isn't affiliated with the business cast an eye over your financial transactions, is another advantage of using a qualified bookkeeper in Prescot if you are a sole trader, or for your small business. Business patterns and trends that you may have disregarded might be highlighted by this kind of nonpartisan evaluation. A situation where a smart bookkeeper flags an area of the business which is dropping off in profits, or identifies an opportunity that could prove lucrative, is by no means an unheard of occurrence. Such key performance indicators are essential in driving the growth of any business in Prescot.

If invoices are sent out by your company it can sometimes be humiliating to chase up late payments. Having an independent person outside your business bubble, can take away the awkwardness of making that phone call or visit to your customer. A bookkeeper can use legal methods to take care of a consistent late or non-payer, and without the need for claims court proceedings, help to resolve the matter.


There are some relatively uncomplicated sole trader bookkeeping requirements, that are set out in law. Essentially, sole traders should retain all receipts and invoices, and track 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 retain the expert services of a competent bookkeeper to ensure that it is all done right. Advising you on what valid business expenses you can claim back, a professional sole trader bookkeeper in Prescot will deal with HMRC on your behalf. This might include promotional advertising, printer ink, items such as computing equipment, stationery and bills and rent if you work from home. If you'd like to get more comprehensive advice, and learn how your small business can grow going forward, speak to your local bookkeeper.


Bookkeeping Services Prescot

There are a number of niche businesses where a specialist bookkeeper might be required. You will need a bookkeeper in Prescot who is familiar with online payment procedures, exchange rate transfers, cross-border and international taxes and multi-currency processing, if you run an online store for example. If that same outlet sells goods you produce or hold, then monitoring inventory on a 24/7 basis is a major priority, as I'm sure you're aware the internet never sleeps, so neither should your bookkeeping software or services.

A virtual office can also be supplied in combination with your bookkeeping services. This can be handy in allowing a sole trader or online only business to have a postal address and telephone service to offer a physical link with their client base. Although this option may not be supplied by all Prescot bookkeeping companies, it is certainly worth discussing the possibilities if this is something which is required.


Many of the qualifications in the bookkeeping industry are at Diploma and Certificate level, and a certified bookkeeper in Prescot does not need to hold a degree. 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 selection of online bookkeeping courses.

To provide training and certification for bookkeepers, there are basically two key organisations of interest:

Local Bookkeeping Services Prescot (L34)

The ICB or Institute of Certified Bookkeepers: The largest organisation of its kind on the planet is the the ICB or Institute of Certified Bookkeepers, and it supplies accreditation to bookkeepers, in addition to training and reference material to ensure their members are up-to-speed with the latest trends.

The Association of Accounting Technicians (AAT): Entitled to use the letters AATQB, a fully trained member of the Association of Accounting Technicians or AAT will have completed advanced qualifications and training in bookkeeping practice. This assures a high standard of service to their customers which is backed up by the organisation, and allows them to become a certified AAT bookkeeper. If an AAT bookkeeper has a complaint filed against them or is found to have contravened the code of conduct they could be subject to tribunal and disciplinary procedures to protect the trustworthiness of AAT membership.

By visiting their websites, you can examine the register of AAT or ICB members, to find the accreditations of any bookkeeper in Prescot. Carrying out this check is widely recommended before getting involved with any bookkeeper in Prescot.

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Book Bookkeeper in Prescot UK

Bookkeeping services are available for people living in in Prescot and also in nearby places like: Windle, Gillar's Green, Woolfall Heath, Tarbock, Thatto Heath, Town End, West Park, Page Moss, Netherley, Cronton, Saint Helens, and in these postcodes L34 1QA, L34 2TU, L34 4WA, L34 1LE, L34 1NB, L34 2SW, L34 1NR, L34 2RS, L34 1BN, and L34 1PR. Locally based Prescot bookkeeping services will likely have the telephone dialling code 0151 and the postcode L34. Checking this should ensure you access locally based bookkeepers. Prescot sole traders and business owners will be able to utilise these and many other similar services.

VAT Returns by a Bookkeeper

If you're a small business owner in Prescot looking to ensure tax compliance and reduce the burden of VAT return preparation, hiring a bookkeeper could be an excellent option. Your VAT return can be handled entirely by a bookkeeper, who will manage everything from calculating your VAT obligations or credits to preparing and submitting your return to HMRC, and keeping an accurate account of all your transactions. On top of that, a bookkeeper can furnish you with beneficial suggestions on how to decrease your VAT obligation and ensure that you are receiving all the permissible VAT reimbursements. A bookkeeper can ensure that your VAT returns are dealt with accurately and effectively, which can help you feel secure and allow you to invest more time in the development of your business in Prescot. By hiring a bookkeeper, you can benefit from a cost-effective approach that can help you evade any HMRC penalties or fines due to inaccurate vat returns or late submissions, resulting in long-term savings. To summarise, engaging a bookkeeper in Prescot can offer small business owners a dependable, budget-friendly, and effective approach to managing their VAT returns, helping them adhere to tax regulations, reduce their tax burden, and focus on expanding their business.

What Are the Main Advantages of Using a Bookkeeper in Prescot Instead of an Accountant?

The following are just some reasons why you may want to use a bookkeeper in Prescot, rather than an accountant:

  • Cost: Bookkeeping services are normally less costly than accounting services. This makes them a cost-effective choice for startups and small businesses.
  • Specialisation: Bookkeepers have got a more focused expertise in day-to-day financial record-keeping and transaction management, leading to greater effectiveness and efficiency in such tasks.
  • Time: By choosing to outsource bookkeeping, small business owners can save a bit of time and focus on other important areas of their business for instance sales and marketing.
  • Customisable Services: Bookkeepers can provide customised services that are tailored to a business's specific needs, whereas accountants may have a more general approach.
  • Availability: Bookkeepers are usually more accessible and on hand to provide support and answer questions in comparison to an accountant, who may sometimes be hard to reach.

That being said, you need to note that whilst bookkeepers can provide valuable support, they may not have the same level of expertise or qualifications as an accountant in certain aspects such as financial planning or tax preparation. In these instances, it might be necessary to consult an accountant for more specialist services.

Tax Returns

If you are self-employed or have a small business in the UK, you may be required to file a self-assessment tax return. This task can be especially challenging if you're not acquainted with the process. To keep your records organised and prepare your tax return accurately and on time, a decent bookkeeper can help you.

For your tax returns, employing a bookkeeper can be beneficial in many ways. First and foremost, they will have the experience and expertise to make certain that your return is completed correctly. This should help you to avoid any penalties or interest charges from HMRC. Second, the use of a bookkeeper can save you a lot of stress, time and hassle. You can focus your attention on your business while they take care of all of the paperwork and calculations. Thirdly, valuable advice on tax planning can be provided by a bookkeeper in Prescot. This can help to lower your tax liability and boost your profits. (83543 - Tax Returns Prescot)

Prescot Bookkeeping Tasks

Bookkeeping Tasks Prescot

Most Prescot bookkeepers will be ready to offer you the following bookkeeping and accounting services: VAT returns, bookkeeping services for charities, bookkeeping services for societies, bookkeeping services, Sage bookkeeping services, invoice processing, partnership tax returns, personal tax returns, mobile bookkeeping services, Quickbook bookkeeping services, bookkeeping for tradesmen, bookkeeping services for pubs, Xero bookkeeping services, profit & loss reports, management reports, landlord bookkeeping, cash flow analysis, independent bookkeeping services in Prescot, tax return preparation, franchise bookkeeping services, bookkeeping for startups in Prescot, assistance with registering for self-employment, double-entry bookkeeping, bookkeeping for shops, small business tax returns, bookkeeping for home-based businesses, bookkeeping for payroll, charity bookkeeping services, bank reconciliation, Self-Assessment tax returns, and more. These are just some of the tasks that are carried out by local bookkeepers. Prescot companies will be delighted to keep you abreast of their entire range of bookkeeping services. If there happen to be different Prescot bookkeeper requirements that you want but can't see here, you can list them on the QUOTE FORM provided. We will be in touch with specifics as soon as we can.


Bookkeepers Near Prescot

Also find: Netherley bookkeepers, Woolfall Heath bookkeepers, Thatto Heath bookkeepers, Page Moss bookkeepers, Tarbock bookkeepers, Windle bookkeepers, Cronton bookkeepers, Town End bookkeepers, West Park bookkeepers, Gillar's Green bookkeepers, Saint Helens bookkeepers and more. Almost all of these places are serviced by local bookkeepers. With this level of accessibility, finding the needed financial support to manage accounts successfully becomes easy for both individuals and businesses. For bookkeeping estimates, residents in the area simply need to click here

Bookkeeping Services Prescot

Find a Bookkeeper in Prescot Here
Prescot Bookkeeping Services (0151)
  • Credit Control
  • Cash Flow Solutions
  • Sole Trader Bookkeeping
  • Profit and Loss Reporting
  • Self-Assessment Bookkeeping
  • Cheap Bookkeeping
  • Self-Assessment Returns
  • Invoice Processing
  • Tax Preparation
  • Bookkeeping Estimates
  • VAT Returns
  • Double-Entry Bookkeeping
  • Payroll Services
  • Bookkeeping Services

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For the latest local information on Prescot, Merseyside go here

Prescot Bookkeeping Jobs: See bookkeeping jobs near Prescot by clicking here: Bookkeeping Jobs Prescot

Bookkeepers in L34 area, phone code 0151.

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(This bookkeepers Prescot content was successfully updated on 10-06-2024)