Bookkeepers Rustington West Sussex (BN16): As stated by the 2006 Companies Act, if you run a small business, are a sole trader or operate an online store in Rustington, you are responsible for maintaining accurate, "true and fair" financial and accounting records for at least six years. You could be disqualified as a Company Director and face thousands of pounds in fines, if you can't produce such information. It can pay to use a professional bookkeeping service or accountant to do this for you, as according to Accounting Today magazine over forty percent of small business owners spend at least eighty hours annually on their accounts, which is a considerable time investment, and may be better spent on your main business activities.
If you're filled with terror just thinking about tracking assets and liabilities, creating profit, loss and fiscal reports, writing out ledgers or producing balance sheets, then the time to contact a bookkeeper in Rustington for advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
A frequent question that's asked by many business owners in Rustington is "What exactly is the difference between an accountant and a bookkeeper?" The truth is that while in the past many accountants considered the bookkeeping process to be beneath their experience, qualifications and skill-sets, a lot of accountancy firms in Rustington will now undertake the task of bookkeeping, because of software improvements over the past decade. A lot of accountancy firms now charge a set fee for bookkeeping services, to keep them in step with what a dedicated bookkeeper in Rustington would routinely charge. Business owners are now cashing in on this, as it provides a greater variety of competition within this sector and can make the cost of bookkeeping far more manageable than it would have been previously.
When considering the biggest difference between an accountant and a bookkeeper in Rustington, it's the level of qualification and training that is required for each of these disciplines. An accountant will, at the minimum, hold a degree in accounting, and should have also had further training in business and financial management, and taxes. While having a good grasp of such disciplines, a bookkeeper in Rustington might not have the qualifications or levels of training and experience.
RESPONSIBILITIES OF A BOOKKEEPER
Essentially, the bookkeeping process is to record the day to day transactions of any enterprise or business in Rustington. This may include, but isn't limited to;
- Payroll services.
- Making sure that accounting and double-entry bookkeeping practices are implemented.
- Logging invoices received and making certain payment is completed punctually.
- Monthly reporting and reconciliations.
- VAT recording and submissions.
- Documenting of all financial incomings; electronic, cash and card payments included.
- Billing of clients for work completed or goods.
- Highlighting any discrepancies in financial accounts and rectifying them.
Whilst it depends on the extent of the service you're interested in, if you're in a position to do the larger part of bookkeeping work yourself, a professional bookkeeper may only be needed to double check your accounts periodically. So that any problems or mistakes can be found and amended quickly, as a bare minimum, this should be done every month. Providing that you're confident of remaining in control of your financial transactions without negatively affecting your everyday business operations, this trade-off can be the most economical solution.
If you are currently considering hiring a bookkeeper in Rustington, whatever your situation, it's fairly likely that you might be getting stressed about your financial recording procedures. A professional bookkeeping service will be able to assist you in linking the latest software with your accounts to facilitate the seamless sorting of financial data, and will provide advice and guidance on things like producing expense reports, invoicing and stocktaking.
One of the most important aspects of good bookkeeping practice, is being able to successfully reconcile accounts payable with cash flow. This means that your bookkeeper will arrange the payment of bills to times when your finances are in good shape and buoyant, rather than paying an outstanding bill straight away, or waiting on an overdue notice, which a lot of small businesses in Rustington are guilty of at some time or other. Along with keeping your business on a sound financial footing, this also keeps you in favour with service providers and suppliers. When, as an individual, you are primarily focussed on running your day to day business activities, this can be a balancing act that is tricky to perform.
Using a certified bookkeeper in Rustington, if you're a sole trader, or for your small business also gives them the chance to cast a critical eye over your financial situation. It's entirely possible that an impartial appraisal such as this will highlight business trends and patterns that have been missed previously. A bookkeeper recognising a new opportunity or noticing an area which is dropping off in profits, is not at all uncommon. For the economic growth of any enterprise in Rustington, it is important that these KPI's (key performance indicators) are spotted early.
If invoices are sent out by your company it can often be embarrassing having to pursue late payments. Some of that apprehension can be removed by having somebody outside your normal business situation visit your customer or make that phone call. A professional bookkeeper can use legal procedures to deal with a consistent late payer, and without the need for a claims court proceeding, help to resolve the situation.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal requirements for bookkeeping if you are a sole trader, are fairly straightforward and simple. A sole trader is expected to track income and expenditure on a monthly basis and save all invoices and receipts. Now, this does not sound too hard does it? But, it is still a wise move to retain the expert services of a competent bookkeeper to make sure that it is all done correctly. When dealing with your income tax returns, a specialist sole trader bookkeeper in Rustington will be able to advise you on what your valid business expenses are, and claim these back from HMRC every year. This might include items such as laptops, promotional advertising, printer ink, rent and bills if you work from home and stationery goods. If you'd like to get more comprehensive advice, and learn how your business can develop and grow going forward, chat to a trusted bookkeeper.
There are certain niche areas in bookkeeping where the skills of a specialist could be essential. For example, if you run an online store, you'll be better off employing a bookkeeper in Rustington who is familiar with multi-currency processing, cross-border and international taxes, online payments and exchange rate transfers. If you produce or hold the merchandise that you sell with that store, then it is going to be an important priority for your bookkeeping services and software to deal with your your stock on a 24 hours a day basis, because the internet does not sleep.
It is also possible to establish a virtual office, which can be used in conjunction with your bookkeeping service and package. This can be beneficial in allowing a sole trader or online only business to have a telephone service and postal address to offer a physical link with their customer base. Although this option may not be supplied by all bookkeeping businesses in Rustington, it's certainly worth talking about the possibilities if this service is something that could be beneficial.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many of the bookkeeping sector qualifications are at Diploma and Certificate level, and it isn't necessary for a certified Rustington bookkeeper to hold an accounting degree. If the chosen route to qualification is via further education colleges and universities, this is still a possibility, although there there is an ever-growing selection of online bookkeeping courses.
Bookkeepers are represented by two principal training and certification organisations:
The Institute of Certified Bookkeepers or ICB: The Institute of Certified Bookkeepers (ICB) is the largest on the planet and supplies accreditation to bookkeepers, along with training and reference material to keep their associated members up-to-date.
The AAT or Association of Accounting Technicians: Entitled to use the letters AATQB after their name, a certified member of the Association of Accounting Technicians or AAT will have completed advanced qualifications and training in bookkeeping practice. This promises a high level of service to their customers which is backed by the association, and enables 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 practice they can be subject to tribunal and disciplinary procedures to safeguard the trustworthiness of AAT membership.
By visiting their respective websites, it's possible to confirm the qualifications of any professional bookkeeper on the register of ICB or AAT members. Performing this check is widely recommended before you hire the services of any bookkeeper in Rustington.
Bookkeeping services are available in Rustington and also nearby in: Ferring, Walberton, Kingston, West Preston, Poling, East Preston, Wick, Goring-by-Sea, Climping, Ford, as well as in these postcodes BN16 2JF, BN16 2PG, BN16 2RR, BN16 2LJ, BN16 2GW, BN16 2JP, BN16 2EE, BN16 2DJ, BN16 2RG, BN16 2AA. Local Rustington Bookkeepers will likely have the dialling code 01903 and the postcode BN16. Verifying this will make certain that you access locally based bookkeepers. Rustington sole traders and business owners will be able to benefit from these and countless other bookkeeping related services.
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Rustington Bookkeeper Tasks
Most bookkeepers in Rustington will be prepared to provide you with the following bookkeeping services: payment services Rustington, profit & loss reports, landlord bookkeeping Rustington, charity bookkeeping Rustington, bookkeeping services for startups, QUOTE FORM provided. We will be in touch with details as soon as we are able., credit control in Rustington, bookkeeping services for societies Rustington, invoice processing, mobile bookkeeping services, bookkeeping services for small business, PAYE & wages, tax returns, Quickbook bookkeeping services, bookkeeping for organisations in Rustington, accountancy packages in Rustington, payroll bookkeeping in Rustington, bookkeeping quotations in Rustington, bookkeeping for the self-employed, bookkeeping for home-based businesses, general bookkeeping services, Self-Assessment tax returns Rustington, Rustington, bookkeeping services for restaurants, franchise bookkeeping Rustington, Kashflow bookkeeping, small business bookkeeping, bookkeeping for shops, company cash books in Rustington, bookkeeping and accounting, and more. These are just a handful of the activities that are carried out by local bookkeepers. Rustington professionals will keep you informed about their whole range of bookkeeping services. If there happen to be some other Rustington bookkeeper requirements that you want but cannot see here, you can mention them on the
West Sussex Bookkeeper
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Bookkeepers Near Rustington
Also here.: East Preston bookkeepers, Goring-by-Sea bookkeepers, Ferring bookkeepers, Climping bookkeepers, Kingston bookkeepers, Ford bookkeepers, Poling bookkeepers, Wick bookkeepers, West Preston bookkeepers, Walberton and more. Most of these villages and towns are catered for by local bookeepers. Rustington businesses can get fees for bookkeeping services by clicking
- Rustington Sole Trader Bookkeeping
- Rustington Wages PAYE and CIS
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- Rustington VAT Returns
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Bookkeepers Around Rustington: People living in these local Rustington streets and roads have just recently enquired about bookkeeping services - Mill Lane, Westlands, Millers Close, Herne Gardens, Dinsdale Gardens, Fircroft Crescent, Preston Avenue, Georgian Gardens, Ruston Avenue, Springfield Close, Jubilee Avenue, Priory Road, Foxes Close, Hawthorn Close, Northcourt Close, Brookside Avenue, Howards Way, Harsfold Close, Chanctonbury Road, Manor Road, Fontwell Close, Drewetts Close, The Close, Preston Paddock, Hawke Close, The Crescent, Shopfield Close, as well as the following Rustington area postcodes: BN16 2JF, BN16 2PG, BN16 2RR, BN16 2LJ, BN16 2GW, BN16 2JP, BN16 2EE, BN16 2DJ, BN16 2RG, BN16 2AA.
If you want local information about Rustington, West Sussex look here
More West Sussex Bookkeepers: More Horsham, Rustington, Crawley, Lancing, Worthing, Southwater, Bognor Regis, Haywards Heath, Southwick, Shoreham-by-Sea, Chichester, Hurstpierpoint, East Grinstead, Burgess Hill and Littlehampton.:
Bookkeepers in BN16 area, phone code 01903.
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