Bookkeepers Sevenoaks Kent (TN13): If you run a small business, operate an online store or are a sole trader in Sevenoaks, you are responsible for maintaining "true and fair", accurate accounting and financial records for at least 6 yrs according to the 2006 Companies Act. If you cannot produce these records you may face thousands of pounds in fines and possibly disqualification as a Company Director. There's a considerable investment of time involved with keeping such financial records on your own behalf, and it can be more economical to use a professional bookkeeping service or accountant, particularly when you consider the fact that according to Accounting Today over forty percent of small businesses spend eighty hours plus every year doing their accounts.
If the very thought of tracking assets and liabilities, compiling balance sheets, preparing profit, loss and fiscal reports or filling out ledgers fills you with a sense of dread, then the time has come to get in touch with a bookkeeper in Sevenoaks for advice and guidance.
BOOKKEEPER OR ACCOUNTANT?
The very first question that a lot of people ask is "Precisely what is the distinction between an accountant and a bookkeeper?" In the old days it was often regarded as to be beneath the experience, qualifications and skill set of an accountant to do the work of a bookkeper, but because of massive improvements in software over the past 10 years or so, many bookkeeping procedures will now be carried out by accountancy firms in Sevenoaks. It's quite common for many accounting firms to have a set fee for bookkeeping services consistent with an independent bookkeeper's fee. Business owners in Sevenoaks are now cashing in on this, as it provides a broader range of competition within the industry and can mean that the cost of bookkeeping is much more manageable than it would previously have been.
When you're considering the differences between a bookkeeper and an accountant, the main one is the amount of training and qualification that's required for each of these disciplines. An accountant will, at the minimum, hold a degree in accounting, and will have also had additional training in fiscal and business management, and taxes. While having a good grasp of these fiscal disciplines, a bookkeeper in Sevenoaks may not necessarily have the same levels of training and experience, or hold these qualifications.
A BOOKKEEPER'S RESPONSIBILITIES
In the simplest of terms, bookkeeping involves the careful recording of day to day monetary transactions of any business or enterprise in Sevenoaks. This can include;
- Payroll services.
- Documenting the receipt of invoices and making certain payment is completed on time.
- VAT submissions and recording.
- Monthly reports and reconciliations.
- Logging of all financial incomings; card, cash and electronic payments included.
- Highlighting and rectifying any discrepancies in the financial accounts.
- Ensuring accounting and double-entry bookkeeping practices are followed.
- Billing of clients for goods or work completed.
Depending on service level you are looking for, e.g. whether you are prepared to perform the bulk of bookkeeping work; a bookkeeper may just be necessary for double-checking your accounts on a set schedule. This should be done monthly as a bare minimum, since this allows for any problems or mistakes to be uncovered and rectified quickly. This might be the most cost-effective trade-off, provided that you're able to stay in control of your monetary transactions without impacting on your day by day business operations.
If you're presently looking at hiring a bookkeeper in Sevenoaks, whatever your circumstances, there's a fair chance that you may be fretting over your financial recording procedures. A good bookkeeping service will help you with everything from invoicing, generating expense reports and stocktaking, to linking the latest software with your business accounts to seamlessly process all your financial data.
The reconciliation of accounts payable with cash flow is one of the most crucial elements of good bookkeeping practice. This means that by scheduling the payment of bills to times when your finances are in good shape and buoyant, your bookkeeper will avoid the thing that a lot of small businesses in Sevenoaks are guilty of doing i.e. paying off a bill straight away, or waiting for a final notice. This does not just keep you in good stead with suppliers and those businesses who supply you with services, but also ensures your business is financially secure. When, as an individual, you are purely focussed on running your business, this can be a balancing act that's hard to accomplish.
Having somebody who's not connected to the business cast a critical eye over your financial dealings, is another added advantage of using an experienced bookkeeper in Sevenoaks if you are a sole trader, or for your small business. Business trends and patterns that you might have overlooked may be pinpointed by this sort of unprejudiced assessment. It's not unheard of for a bookkeeper to spot a new opportunity or flag up an area of the business where profits are plummeting. Spotting such KPI's (key performance indicators) is important for the future growth of any small business in Sevenoaks.
If you give out invoices in your business operations, having to pursue a late payment can be really awkward. Some of that embarrassment can be removed by having an individual outside your normal business bubble visit your customers or make that phone call. A bookkeeper can make use of legal solutions to deal with a repeating late or non-payer, and without having to resort to claims court proceedings, help to resolve the matter.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal requirements for bookkeeping if you're a sole trader, are reasonably straightforward and simple. Sole traders are required to track expenditure and income on a month by month basis and keep all invoices and receipts. Even though this might initially sound quite easy, retaining the expert services of a bookkeeping company is still a wise move. Offering advice on what genuine business expenses you might be able to claim back, a professional sole trader bookkeeper in Sevenoaks will look after your dealings with HMRC. This could include rent and bills if you work from home, advertising, items such as computers, stationery and consumables. Talk to a trusted bookkeeper for more comprehensive advice and learn how they can help your business grow.
BOOKKEEPING FOR ONLINE TRADERS IN SEVENOAKS
There are certain niche areas in bookkeeping where a specialist may be required. If you manage an online store for example, you're going to require a bookkeeper in Sevenoaks who understands cross-border and international taxes, exchange rate transfers, online payment procedures and multi-currency processing. Managing your stock on a 24/7 basis is also a vital concern, if that same shop distributes goods that you produce or hold, after all the internet doesn't sleep, so nor should your bookkeeping services and software.
It is also possible to establish a remote virtual office, that can be utilised in conjunction with your bookkeeping service and package. This enables a sole trader or online only business to have a phone service and postal address to offer a physical connection to their buyers. It is certainly worth discussing this possibility if it's something that could be of benefit, although not all bookkeeping companies in Sevenoaks will provide this option.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It is not necessary for a qualified Sevenoaks bookkeeper to hold a degree, and many of the bookkeeping qualifications are held at Certificate and Diploma level. There are a range of courses available online, although bookkeeping qualifications can still be gained via further education colleges and universities.
There are 2 principal training and certification organisations which represent bookkeepers:
The Institute of Certified Bookkeepers or ICB: Keeping their members informed about the latest trends and developments, the Institute of Certified Bookkeepers (ICB) is the largest bookkeeping organisation in the world, providing accreditation to certified bookkeepers, in addition to reference material and training.
The Association of Accounting Technicians (AAT): The AAT or Association of Accounting Technicians provides advanced qualifications and a training schedule entitling fully certified bookkeepers to use the letters AATQB. They're then entitled to become certified AAT bookkeepers, which promises their clients a minimum level of service which is backed by the association. To protect the integrity and values of AAT membership, if an AAT bookkeeper has a complaint filed against them or is found to have broken the code of practice they may be liable to disciplinary and tribunal procedures.
By viewing the register of AAT or ICB members on their websites, you're able to determine the accreditations of any Sevenoaks bookkeeper. Before you use the services of any local bookkeeper in Sevenoaks it is always a good idea to carry out this check.
Bookkeeping services are available for those living in in Sevenoaks and also in: Sundridge, Ide Hill, Shipbourne, Godden Green, Stone Street, Shoreham, Knockholt, Ightham, Dunton Green, Kemsing, Chipstead, Twitton, Brasted, Cudham, together with these postcodes TN13 1EQ, TN13 1LB, TN13 1HW, TN13 1AG, TN13 1PE, TN13 1PQ, TN13 1QQ, TN13 1PZ, TN13 1EL, TN13 1BT. Locally based Sevenoaks bookkeeper services will most likely have the dialling code 01732 and the postcode TN13. Checking this out can ensure you are accessing locally based bookkeepers. Sevenoaks sole traders and business owners will be able to utilise these and various other similar services.
Franchise bookkeeping Sevenoaks.
Sevenoaks Bookkeeper Tasks
Most bookkeepers in Sevenoaks will be ready to provide you with the following bookkeeping and accounting services: bookkeeping and accounting, off-site bookkeeping services, accountancy packages in Sevenoaks, bookkeeping services for clubs, letting agent bookkeeping Sevenoaks, bookkeeping for restaurants, QUOTE FORM provided. We'll get back to you with details as soon as we can.Sevenoaks, Kashflow bookkeeping, mobile bookkeeping services, bookkeeping services for tradesmen, VAT returns Sevenoaks, maintaining fixed asset registers, bookkeeping services for startups, bookkeeping services, Quickbook bookkeeping, management accounts Sevenoaks, payroll bookkeeping, accounting and bookkeeping services, Self-Assessment tax returns, independent bookkeeping services, bookkeeping services for charities, bookkeeping for small business, payment services, bookkeeping services for retail outlets, bookkeeping for the self-employed, profit & loss reports, Sage bookkeeping services, tax returns, and more. Listed are just a handful of the tasks that are handled by local bookkeepers. Sevenoaks providers will keep you informed about their full range of bookkeeping services. If there happen to be different Sevenoaks bookkeeper requirements that you need but don't see here, you should mention them on the
Bookkeepers Near Sevenoaks
Also here.: Twitton bookkeepers, Brasted bookkeepers, Ide Hill bookkeepers, Shoreham bookkeepers, Chipstead bookkeepers, Ightham bookkeepers, Kemsing bookkeepers, Dunton Green bookkeepers, Shipbourne bookkeepers, Godden Green bookkeepers, Cudham bookkeepers, Stone Street bookkeepers, Knockholt bookkeepers, Sundridge and more. Most of these towns and villages are served by local bookeepers. Sevenoaks people can get prices for bookkeeping services by going
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Bookkeepers Around Sevenoaks: People who live in the following Sevenoaks areas and roads have recently enquired about bookkeeping services - Coombe Road, Sandilands, Shorehill Lane, Station Approach, The Sheiling, Dryland Road, Bayham Road, Dux Hill, Dartford Road, School Lane, The Meadows, Bennetts Avenue, Battlefields Road, Bowzell Green, The Acorns, Church Hill, Barnfield Park, Tinkerpot Rise, Tinkerpot Lane, Surrey Close, Birchwood Lane, Dynes Road, Shelleys Lane, Southfields Road, Bewley Lane, Scabharbour Road, Copse Bank, The Glebe Field, Bayleys Hill, as well as these local Sevenoaks postcodes: TN13 1EQ, TN13 1LB, TN13 1HW, TN13 1AG, TN13 1PE, TN13 1PQ, TN13 1QQ, TN13 1PZ, TN13 1EL, TN13 1BT.
Bookkeeping Jobs Sevenoaks: View bookkeeping jobs in Sevenoaks by going here: Sevenoaks Bookkeeping Jobs
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Bookkeepers in TN13 area, and dialling code 01732.
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