Bookkeepers Shepperton Surrey (TW17) Area: For any individual in Shepperton who runs a small business, operates an online store or acts as a sole trader, it is their sole responsibility to keep accurate, "true and fair" accounting and financial records for at least 6 yrs. This is in accordance with the 2006 Companies Act. Failure to produce these detailed records could leave you facing Company Director disqualification, along with thousands of pounds in fines. It can be more cost-effective to employ a professional bookkeeping service or accountant to accomplish this for you, because according to Accounting Today over 40% of small business owners spend eighty hours plus every year doing their bookkeeping, which is a substantial time investment, and may be more efficiently spent on your main business activities.
If the very thought of compiling balance sheets, tracking assets and liabilities, preparing profit, loss and financial statements or writing out ledgers fills you with dread, then the time has come to get in touch with a bookkeeper in Shepperton for assistance.
BOOKKEEPER OR ACCOUNTANT?
The first question that a lot of folks ask is "What is the distinction between a bookkeeper and an accountant?" The truth is that while in past times many accountants considered the task of bookkeeping to be beneath their skill set, qualifications and experience, many accountancy companies in the Shepperton area will now take on most bookkeeping duties, due to software developments over the past 10 years or so. Most accounting companies now charge a set rate for bookkeeping services, to keep them in line with what an independent bookkeeper in Shepperton would routinely charge. As it offers a wider range of competition within the industry, this is good news for small businesses in Shepperton, making the cost of their bookkeeping much more affordable than it previously was.
When you are looking at the differences between an accountant and a bookkeeper in Shepperton, the most notable one is the standard of qualification and training that's needed for each of these disciplines. An accountant will, at the very least, hold an accounting degree, and will have also had additional training in business and fiscal management, and taxes. Although bookkeepers in Shepperton will undoubtedly have a decent understanding of these skills, they may not necessarily have the qualifications or levels of experience and training in this field.
RESPONSIBILITIES OF A BOOKKEEPER
The bookkeeping process put simply, is the recording of the day to day financial transactions of any business or enterprise in Shepperton. This can include;
- VAT recording and submissions.
- Payroll services.
- Highlighting any discrepancies in financial accounts and rectifying them.
- Making sure that double-entry bookkeeping and accounting practices are implemented.
- Monthly reconciliations and reporting.
- Billing of clients for goods or work completed.
- Recording the receipt of invoices and making sure that payment is completed by the due date.
- Logging of all financial incomings; including cash, electronic and card payments.
Contingent upon the level of service you require, a professional bookkeeper might just be needed to double check your accounts on a set schedule, if you're in a position to carry out the larger part of bookkeeping work yourself. This needs to be from month to month at the bare minimum, since this will allow any problems or mistakes to be found and corrected promptly. This trade-off can sometimes be the most cost-effective compromise if you're confident of staying in control of your day by day financial transactions and trading.
Whatever your circumstances, if you are considering hiring a bookkeeper in Shepperton, it is fairly likely that you may be having problems with the financial recording aspects of your small business. A decent bookkeeping company will help you out with everything from generating expense reports, invoicing and stocktaking, to linking your accounts with the latest software to seamlessly process all your data.
An especially crucial aspect of effective bookkeeping is being able to reconcile accounts payable with cash flow. Which means that your bookkeeper will prioritise bill payments to a time when your accounts are buoyant and in good order, rather than paying a bill straight away, or waiting for an overdue notice, which many small businesses are guilty of. In addition to keeping your enterprise or business financially secure, this also maintains your reputation with your suppliers and service providers. When, as an individual, you're firmly focussed on running your daily business activities, this can be a balancing act that's hard to perform.
If you are a sole trader, or own a small business, employing a professional bookkeeper in Shepperton, also gives them the chance to cast a fresh eye over the operation of your business. Business patterns and trends that you might have overlooked may be highlighted by this kind of independent assessment. It is not at all unheard of for a smart bookkeeper to flag an area of the business where profits are falling, or spot an opportunity that may be worthwhile. Such KPI's (key performance indicators) are essential in the long-term growth of any small business in Shepperton.
If invoices are sent out by your business it can often be uncomfortable having to pursue a late payment. Having a professional from outside your business situation, can take the embarrassment away from making that phone call or visit to your customers. A professional bookkeeper can make use of legal solutions to handle a repeating late or non-payer, and without the need for court proceedings, help to clear up the matter.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The requirements for bookkeeping by a sole trader, as set out in law, are comparatively uncomplicated and easily understandable. A sole trader is required to keep track of expenditure and income on a month by month basis and keep all receipts and invoices. Although this might at first sound easy, retaining the expertise of a bookkeeper is still good practice. Offering advice on what legitimate business expenses you might be able to claim back, a dedicated sole trader bookkeeper in Shepperton will look after your dealings with HMRC. This may include rent and bills if you work from home, stationery, items such as computing equipment, printer ink and promotional advertising. To learn how they can help your small business to prosper and grow, speak to your bookkeeper for more detailed advice.
ONLINE TRADERS
There are niches in bookkeeping where a specialist could be needed. By way of example, if you run an online store, you'll be wise to employ a bookkeeper in Shepperton who understands online payment procedures, multi-currency processing, exchange rate transfers and cross-border and international taxes. If the same outlet sells goods that you hold or produce, then keeping track of stock on a 24/7 basis is a huge priority, as I'm sure you're aware the internet does not sleep, therefore neither should your bookkeeping software or services.
In conjunction with your bookkeeping services, a virtual office can also be provided. Providing a physical link with their customers, this allows a sole trader or online only business to have a postal address and phone service. Although this option may not be offered by all bookkeeping companies in Shepperton, it's certainly worth talking about the possibilities if this service is something that could be advantageous.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
Many qualifications for the bookkeeping sector are at Diploma or Certificate level, and a professional Shepperton bookkeeper needn't have a degree. Although there is a selection of online courses available, bookkeeping qualifications can still be gained via further education universities and colleges, if that is the preferred route.
There are 2 principal certification and training organisations which represent bookkeepers:
The AAT or Association of Accounting Technicians: The AAT or Association of Accounting Technicians provides a training schedule with advanced qualifications entitling fully trained bookkeepers to use the letters AATQB. They can then become accredited AAT bookkeepers, approved by this reputable association, which guarantees a standard of service for their customers. If a bookkeeper who is affiliated with the AAT is found to have violated the code of conduct or has a complaint filed against them, they could be subject to disciplinary and tribunal procedures to protect the integrity of the aat membership.
The Institute of Certified Bookkeepers (ICB): Keeping their associated members informed about the latest trends and innovations, the Institute of Certified Bookkeepers (ICB) is the largest organisation of its kind in the world, providing accreditation to certified bookkeepers, along with reference material and training.
By visiting their respective websites, you're able to inspect the register of AAT or ICB members, to find the accreditations of any Shepperton bookkeeper. Carrying out this check is widely recommended before you use any local bookkeeper in Shepperton.
Bookkeeping services are available in Shepperton and also nearby in: Upper Halliford, Lower Halliford, Oatlands Park, Sunbury Common, Whiteley Village, Ashley Park, Addlestone, Ashford Common, Walton-on-Thames, Weybridge, Meadowlands, Littleton, and in these postcode areas: TW17 8AX, TW17 8ES, KT13 8YG, TW17 8SZ, TW17 8BH, TW17 8TF, TW17 8ND, TW17 8JU, TW17 8BG, TW17 8HQ. Locally based Shepperton Bookkeepers will likely have the telephone code 01932 and the postcode TW17. Checking this should confirm you access locally based bookkeepers. Shepperton sole traders and business owners are able to utilise these and countless other related services.
Sales and Purchase Ledger Management
Handling sales and purchase ledger management properly supports the overall health of a business. A bookkeeper records all sales invoices, tracks incoming payments, and keeps balances accurate throughout the month. On the purchase ledger, supplier invoices are logged, reviewed, and followed through until paid. They will also carry out routine reviews to spot unusual activity that may need further attention. This helps maintain confidence in the records. With both ledgers kept up to date, financial reporting becomes more straightforward. Business owners can rely on their figures when planning and reviewing performance. (Tags: Sales and Purchase Ledger Management Shepperton)
Year-End Tax Return Preparation
Year-end tax return preparation can be stressful without proper checks, but a bookkeeper helps keep things under control. They'll review income, expenses, and balances, making sure records are accurate and complete. Any inconsistencies are resolved before deadlines approach. One important step includes keeping backup documentation organised in case HMRC request further information. This avoids scrambling later. Once everything is reviewed, the bookkeeper prepares clear schedules ready for submission. This structured preparation saves time and helps business owners feel confident that their figures are accurate and properly supported. (Tags: Year-End Tax Return Preparation Shepperton)
Bookkeeping Tasks
Most Shepperton bookkeepers will be ready to provide you with the following bookkeeping and accounting services: sales & purchase ledger management, VAT record-keeping & VAT return preparation, bookkeeping for freelancers, cash flow monitoring & reporting, maintaining general ledgers, keeping digital records compliant with HMRC requirements, management reports, off-site bookkeeping in Shepperton, bookkeeping and accounting, general bookkeeping services, Sage bookkeeping, business bookkeeping, invoice processing, bookkeeping services in Shepperton, data entry & cleanup of historic records, bookkeeping services for organisations, CIS record-keeping & submissions (for construction businesses), tax preparation, tax returns, bookkeeping for clubs, personal tax returns, bank & credit card reconciliations, bookkeeping for societies, bookkeeping for small businesses, bookkeeping for home-based businesses, bookkeeping for payroll, and more. Listed are just some of the duties that are performed by local bookkeepers. Shepperton professionals will be delighted to keep you abreast of their entire range of bookkeeping services. If there happen to be additional Shepperton bookkeeper requirements that you need but can't see here, you can mention them on the QUOTE FORM provided. We'll get back to you with specifics as soon as we are able.
Bookkeeping Questions
Just yesterday I was reviewing the questions folks ask in relation to bookkeepers in Shepperton. Quite a few of our web visitors have sent in obvious queries that I thought might be worth mentioning. The most germane ones seemed to be, How can a bookkeeper help my business in Shepperton? Who can be a bookkeeper? How much is bookkeeping per hour? What are the advantages of a bookkeeper over an accountant? Why choose a bookkeeper in Shepperton? What do bookkeeping services offer? Can anyone do bookkeeping? Does a bookkeeper need to be registered? What is the difference between a bookkeeper and an accountant? The vast majority of these questions have hopefully been answered in this blog post, if there are any left to be answered we will soon be adding a bookkeeping "Q&A" feature. My appreciation goes out to these folks in Shepperton for taking the trouble to put these questions; Austin Brown, Aadam Reed, Cain Holt and Jordyn Stanley. It was also brilliant to receive queries from Mya Moran in Ashley Park, Owen Casey in Sunbury Common and Violet Lacey in Rydens.
Bookkeepers in Nearby Areas
Also find: Walton-on-Thames bookkeepers, Lower Halliford bookkeepers, Meadowlands bookkeepers, Whiteley Village bookkeepers, Littleton bookkeepers, Ashley Park bookkeepers, Sunbury Common bookkeepers, Addlestone bookkeepers, Upper Halliford bookkeepers, Oatlands Park bookkeepers, Weybridge bookkeepers, Ashford Common bookkeeper and more. All of these villages and towns are covered by local bookeepers. Shepperton residents can get pricing for bookkeeping services by clicking here.
Bookkeeping Services Shepperton
- Bank Reconciliations
- Bookkeeping Services
- Small Business Bookkeeping
- Cheap Bookkeeping
- Tax Returns
- Self-Assessment Bookkeeping
- Cash Flow Management
- PAYE Wages and CIS
- Bookkeeping Quotes
- Profit and Loss Analysis
- Sole Trader Bookkeeping
- Credit Control
- Payroll Services
- Tax Preparation
Planned Bookkeeping Articles: Here are some of our bookkeeping articles that we plan to publish in the near future. So, if you are interested in any of these, please call back again: Budget preparation and analysis in Shepperton. Bank and credit card reconciliation in Shepperton. Accounts receivable management in Shepperton. General ledger maintenance in Shepperton. Management reporting in Shepperton. Cash flow management in Shepperton. Business startup advice and support in Shepperton. Accounts payable management in Shepperton. Bookkeeping clean-up in Shepperton.
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Bookkeeping SheppertonBookkeepers in TW17 area, and dialling code 01932.
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