Bookkeepers Reigate Surrey (RH2): If you are a sole trader, own a small business or operate an online store in Reigate, you are responsible for keeping accurate, "true and fair" financial and accounting records for at least 6 yrs according to the Companies Act. You could face thousands of pounds in fines, and perhaps disqualification as a Company Director, if you cannot produce such information. You could accomplish these financial records on your own behalf, although when you think about the fact that according to the magazine Accounting Today over 40% of small business owners spend over 80 hours per year on their bookkeeping, it can pay you to use a professional accountant or bookkeeping company.
The time has come to get in touch with a bookkeeper in Reigate for advice and guidance, if you're filled with dread simply thinking about writing ledgers, tracking assets and liabilities, preparing profit, loss and financial statements or compiling balance sheets.
BOOKKEEPER OR ACCOUNTANT?
A common query that is asked by a lot of small business owners in Reigate is "Precisely what is the difference between a bookkeeper and an accountant?" The truth is that while in past times a lot of accountants considered the bookkeeping process to be beneath their experience, qualifications and skill set, a lot of accountancy firms in the Reigate area will now take on the task of bookkeeping, due to software developments over the past decade or so. For many accounting firms it is now common practice to charge a fixed fee for bookkeeping services, so that they're in line with the normal charges of an independent bookkeeper in Reigate. Business owners are now cashing in on this, since it generates a wider range of competition within the marketplace and can mean that the cost of bookkeeping is much more manageable than it would have been in the past.
The amount of training and qualification required is the big difference between an accountant and a bookkeeper. At least a degree in accounting with additional training in the field of taxation and other fiscal and business management, will normally be held by an accountant. A bookkeeper in Reigate may not have the same levels of experience and training, or hold these qualifications, but should still have a pretty good understanding of these fiscal disciplines.
A BOOKKEEPER'S RESPONSIBILITIES
To explain in the simplest of forms, the bookkeeping process involves the recording of day by day monetary transactions of any enterprise or business in Reigate. This may include, but isn't limited to;
- Billing of customers for work completed or goods.
- Logging invoices received and making certain that payment is completed by the due date.
- Recording of all financial incomings; including cash, electronic and card payments.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Payroll services.
- Monthly reporting and reconciliation.
- VAT submissions and recording.
- Ensuring double-entry bookkeeping and accounting practices are observed.
Depending on the level of service you are looking for, e.g. whether you're willing to perform the bulk of your bookkeeping work; a professional bookkeeper might just be needed to double check your accounts on a fixed schedule. This ought to be done each month at the bare minimum, as this will allow any problems or mistakes to be detected and corrected swiftly. Providing it's possible to stay in control of your monetary transactions without having a negative impact on your day by day business operations, this option can be the most economical solution.
If you're seriously looking at hiring a bookkeeping company in Reigate, whatever your situation is, there's a fair chance that you could be having problems with your tax and financial procedures. A decent bookkeeping company will be able to offer guidance and advice on everything from invoicing, preparing expense reports and stocktaking, to linking your accounts with the most up-to-date software to facilitate the seamless processing of data.
An extremely important aspect of a good bookkeeper is being able to reconcile accounts payable with cash flow. This means that your bookkeeper will organise bill payments to times when your finances are in good shape and buoyant, instead of paying an outstanding bill straight away, or waiting on a final notice, which a lot of small businesses are guilty of. This does not just keep you in the good books of suppliers and those who supply you with services, but also makes sure that your business is financially stable. Regrettably, this is one of those juggling acts that can be hard to perform when you're mainly focussed on the smooth running of your everyday business activities.
Having somebody who's unconnected to the business cast an unrelated eye over your financial dealings, is another added benefit of using a professional bookkeeper in Reigate if you are a sole trader, or for your small business. It may be that business patterns and trends that you have overlooked will thus be highlighted. A bookkeeper spotting a new opportunity or flagging an area of the business where profits are decreasing, is by no means uncommon. Such key performance indicators (KPI's) are essential in driving growth for any enterprise in Reigate.
If you send out invoices as part of your business operations, having to pursue late payments can be quite awkward. By having a person outside your business bubble visit your clients or make that phone call, some of that embarrassment can be taken away. There are legal procedures a professional bookkeeper can make use of, if you have a consistent late payer, and these can help to resolve the situation before the matter winds up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
As a sole trader the bookkeeping requirements, as set out in law, start off fairly straightforward. It is stated that a sole trader should keep records of income and expenditure on a month by month basis and retain all receipts and invoices. Now, this does not seem too difficult does it? However, it is still a good idea to hire the expertise of a competent bookkeeper to make certain that it is all done properly. So that you'll be able to claim back any legitimate business expenses from HMRC, a specialist sole trader bookkeeper in Reigate can give you advice on what you have to do. This could include bills and rent if working from home, stationery, items such as computing equipment, printer ink and promotional advertising. To discover how to help your business to grow and prosper, speak to your local bookkeeper for more in-depth guidance and advice.
BOOKKEEPING FOR ONLINE TRADERS
There are niches in bookkeeping where a specialist could be essential. You're going to need a bookkeeper in Reigate who's familiar with international and cross-border taxes, multi-currency processing, online payment procedures and exchange rate transfers, if you run a store online for example. If you produce or hold the merchandise that you sell with that store, then it's going to be a major priority for your bookkeeping services and software to monitor your your stock on a 24/7 basis, because of course, the internet doesn't sleep.
It is also possible to establish a remote virtual office, which can be used in combination with your bookkeeping service. This allows a sole trader or online only business to offer a physical link with their customers, via a phone service and postal address. If this kind of service could be useful, it's definitely worth discussing the possibilities, although this option will not be provided by all bookkeeping companies in Reigate.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A certified Reigate bookkeeper needn't have a 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 option is still available, although there there is an ever-increasing range of online bookkeeping courses.
Representing bookkeepers, there are 2 primary training and certification organisations:
The AAT (Association of Accounting Technicians): Able to use the letters AATQB, a certified member of the AAT (Association of Accounting Technicians) will have undergone a training schedule and advanced qualifications in bookkeeping. This then enables them to become a certified AAT bookkeeper and promises a decent standard of service which is backed by the organisation. AAT bookkeepers can can be liable to disciplinary and tribunal procedures if a complaint is made against them or they are found to have contravened the code of practice. This helps to preserve the trustworthiness of the AAT membership.
The Institute of Certified Bookkeepers or ICB: The Institute of Certified Bookkeepers or ICB is the largest on the planet and provides certification for qualified bookkeepers, together with reference material and training to keep their members up-to-date.
By going to their respective websites, it's possible to verify the qualifications of any Reigate bookkeeper on the register of ICB or AAT members. Before you use any local bookkeeper in Reigate it's generally a good idea to carry out this check.
Bookkeeping services are available for people living in in Reigate and also in: Hooley, Beare Green, South Park, Earlswood, Merstham, Lower Kingswood, Irons Bottom, Horley, Buckland, Sidlow, Wrays, Betchworth, The Acres, South Nutfield, Salfords, Redhill, Leigh, Mickleham, and in these postcodes RH2 0QE, RH2 0EL, RH2 0FL, RH2 0NU, RH2 0LN, RH2 0QG, RH2 0NF, RH2 0HH, RH2 0DE, RH2 0BF. Local Reigate bookkeeper services will most likely have the postcode RH2 and the dialling code 01737. Checking this can guarantee you are accessing local bookkeepers. Reigate sole traders and business owners will be able to benefit from these and various other similar services.
Outsourced Bookkeeping Reigate
All businesses in Reigate should understand the significance of bookkeeping. It helps business people monitor their payables/receivables, the total value of their assets and liabilities, the money left in their bank, and so on. 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 Reigate.
If a company in Reigate hires a bookkeeper in order to join their ranks, 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 bookkeeping companies and professional bookkeepers in Reigate.
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 Reigate. A majority of these companies promise and deliver quality service. It assumes importance for a business to look into the track record of these Reigate bookkeeping companies when it comes to hiring a third party company for bookkeeping purposes.
These professional bookkeeping companies in Reigate 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.
Reigate Bookkeeper Tasks
Most Reigate bookkeepers will be prepared to provide you with the following accounting and bookkeeping services: off-site bookkeeping in Reigate, bookkeeping services, landlord bookkeeping Reigate, Kashflow bookkeeping in Reigate, bookkeeping for restaurants Reigate, bookkeeping services for pubs in Reigate, bookkeeping prices Reigate, double-entry bookkeeping Reigate, payment services in Reigate, professional bookkeeping services, small business bookkeeping, PAYE & wages Reigate, QUOTE FORM provided. We will be in touch with details just as soon as we are able.Reigate, Quickbook bookkeeping, bookkeeping for small business, Sage bookkeeping, management accounts, profit & loss reports Reigate, Xero bookkeeping, VAT returns, franchise bookkeeping Reigate, cash flow analysis, bookkeeping for clubs, payroll bookkeeping, bookkeeping for retail outlets, corporation tax returns, bookkeeping services for startups, bank reconciliation, bookkeeping services for charities, company cash books, and more. Listed are just an example of the duties that are conducted by local bookkeepers. Reigate professionals will be happy to inform you of their full range of bookkeeping services. If there are additional Reigate bookkeeper requirements that you need but don't see here, you should list them on the
Reigate Bookkeeper Questions
In recent days I have been going over the kinds of questions that people ask with regards to bookkeepers in Reigate. A good few of you posted noteworthy enquiries that I thought would be worth a mention. The ones that attracted my attention are, Which bookkeeping certification is best in the UK? How can I get bookkeeper in Reigate? What does bookkeeping involve? What are the benefits of a bookkeeping services? Who can be a bookkeeper? Why hire a bookkeeper in Reigate? How much do bookkeepers charge? What is the difference between an accountant and a bookkeeper? Can a bookkeeper prepare tax returns? I hope that the majority of those questions have been tackled in the preceding paragraphs, and if some are still to be answered a bookkeeping "Q&A" feature is the next thing we're going to introduce. Thanks a lot to Nicholas Jones, Hugh Spencer, Faris Clayton and Everly Vaughan from Reigate, for raising these great questions. We also got enquiries from Natalia Sharpe in Salfords, Alejandro Miah in Lower Kingswood and Genesis Underwood in Redhill.
Bookkeepers Near Reigate
Also here.: Wrays bookkeepers, Horley bookkeepers, Betchworth bookkeepers, Mickleham bookkeepers, Salfords bookkeepers, Redhill bookkeepers, Merstham bookkeepers, Beare Green bookkeepers, The Acres bookkeepers, South Nutfield bookkeepers, Hooley bookkeepers, Irons Bottom bookkeepers, Earlswood bookkeepers, Buckland bookkeepers, Leigh bookkeepers, Lower Kingswood bookkeepers, Sidlow bookkeepers, South Park and more. The majority of these towns and villages are covered by local bookeepers. Reigate businesses and traders can get fees for bookkeeping services by clicking
- Reigate Bookkeeping Services
- Reigate Tax Preparation
- Reigate Self-Assessment Bookkeeping
- Reigate Small Business Bookkeeping
- Reigate Tax Returns
- Reigate PAYE and Wages
- Reigate Bookkeeping Quotations
- Reigate Sole Trader Bookkeeping
- Reigate Credit Control
- Reigate Profit and Loss Reports
- Reigate Cash Flow Analysis
- Reigate Cheap Bookkeeping
- Reigate Invoice Processing
- Reigate Payroll Services
Bookkeepers Around Reigate: People living in these roads and streets have just recently requested bookkeeping services - The Chase, Somers Close, Colley Manor Drive, Brandsland, Cronks Hill, Cage Yard, Blackborough Road, Chart Lane, Bell Street, Brightlands Road, Stuart Crescent, Sandcross Lane, Coneyberry, Delamere Road, Coppice Lane, Ashdown Road, Buckland Road, Beaufort Close, Brokes Crescent, Batts Hill, St Albans Road, Somers Road, Cockshot Hill, Apley Road, Cockshot Road, Cornfield Road, as well as the following Reigate area postcodes: RH2 0QE, RH2 0EL, RH2 0FL, RH2 0NU, RH2 0LN, RH2 0QG, RH2 0NF, RH2 0HH, RH2 0DE, RH2 0BF.
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Bookkeepers in RH2 area, phone code 01737.
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