Bookkeepers Shoreham-by-Sea West Sussex (BN43): For anyone in Shoreham-by-Sea who acts as a sole trader, runs an online store or operates a small business, it is their sole responsibility to maintain accurate, "true and fair" accounting and financial records for at least 6 years. This is in accordance with the Companies Act (2006). You could be disqualified as a Company Director and receive a hefty fine, if you can't produce such records. It can pay to use a professional bookkeeping company or accountant to conduct this for you, because according to the trade magazine Accounting Today over 40% of small businesses spend 80 plus hours per year on their bookkeeping duties, which is a significant time investment, and may be more effectively spent on your core business activities.
It is time to get in touch within Shoreham-by-Sea for help and advice, if the very thought of tracking liabilities and assets, producing balance sheets, creating profit, loss and financial statements or writing out ledgers brings you feelings of terror.
BOOKKEEPER OR ACCOUNTANT?
The first question that many people ask is "Precisely what is the difference between a bookkeeper and an accountant?" The fact is, due to software developments over the past 10 yrs or so many accountants in the Shoreham-by-Sea area will undertake bookkeeping, which was previously regarded as beneath their qualifications, experience and skill set. Many accounting firms now have a fixed rate for bookkeeping services, to keep them in line with what an independent bookkeeper in Shoreham-by-Sea would usually charge. This is fantastic news for business owners since it generates a wider variety of competition within this sector and can make the cost of your bookkeeping cheaper than initially thought.
When looking at the biggest difference between an accountant and a bookkeeper, it's the standard of training that is needed for each discipline. Typically holding an accounting degree, a professionalwill also have had further training in tax law and have qualifications in business and fiscal management. A bookkeeper in Shoreham-by-Sea will invariably have a decent understanding of these skills, but might not hold the qualifications or levels of experience and training.
RESPONSIBILITIES OF A BOOKKEEPER
The bookkeeping process put simply, is the recording of the day by day financial transactions of any business in Shoreham-by-Sea. This can include;
- Making sure that accounting and double-entry bookkeeping practices are observed.
- Billing of clients for work completed or goods.
- Highlighting and rectifying any discrepancies in financial accounts.
- Payroll services.
- VAT recording and submissions.
- Logging invoices received and making sure payment is completed on time.
- Documenting of all financial incomings; including card, cash and electronic payments.
- Monthly reports and reconciliation.
Subject to the level of service you need, e.g. you are happy to do most of bookkeeping work; a bookkeeper might just be needed to double check your figures on a set schedule. This really needs to be done each month at the bare minimum, as this will allow any problems or mistakes to be detected and rectified swiftly. As long as you are confident of remaining on top of your monetary transactions without having a negative impact on your day to day business activities, this solution can be an extremely cost-effective trade-off.
Whatever the situation is with your business or company, if you are currently thinking of hiring a bookkeeper in Shoreham-by-Sea, it is fairly likely that you could be stressed with the process of recording your financial details. To enable the seamless organisation of financial data, a professional bookkeeping service will help you link the latest software program to your accounts, and will offer advice on things such as producing expense reports, stocktaking and invoicing.
The ability to reconcile accounts payable with cash flow, is an extremely important aspect of good bookkeeping. This means that your bookkeeper will schedule the payment of bills to a time when your accounts are buoyant and in good order, rather than paying an outstanding bill immediately, or waiting on a final notice, which a lot of small businesses are guilty of at some time or other. This not only keeps you in favour with suppliers and those people who supply you with services, but also ensures your business enterprise is on a secure financial footing. Unfortunately, this is one of those balancing acts that can be tough to accomplish when you're inevitably focussed on the smooth running of your daily business activities.
For your small business enterprise, or if you are a sole trader, employing a certified bookkeeper in Shoreham-by-Sea, gives you the chance to have an eagle eye cast over your financial situation. It's entirely possible that an unbiased assessment like this will pinpoint business patterns and trends that have been missed previously. It's by no means uncommon for a keen eyed bookkeeper to flag an area which is dropping off in profits, or spot a brand new opportunity that could be worthwhile. For the future growth of any enterprise in Shoreham-by-Sea, it is crucial that such KPI's (key performance indicators) are spotted as early as possible.
If invoices are sent out by your business it can sometimes be humiliating having to pursue a late payment. By having a professional outside your normal business situation visit your customers or make that phone call, some of that apprehension can be removed. A bookkeeper can make use of legal procedures to take care of a persistent late or non-payer, and without the need for a claims court proceeding, help to resolve the situation.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal bookkeeping requirements for sole traders, are fairly straightforward and basic. This involves saving all receipts and invoices relating to the business, and tracking expenditure and income from month to month. Whilst this may sound simple it is still a good idea to retain the expert services of a bookkeeper. Offering advice on what bonafide business expenses you might be able to claim back, a dedicated sole trader bookkeeper in Shoreham-by-Sea will deal with HMRC on your behalf. This might include rent and bills if you work from home, promotional advertising, items such as computers, stationery and printer ink. For more comprehensive advice, speak to a trusted bookkeeper, and discover how they can help your small business to thrive and grow in the future.
BOOKKEEPING FOR ONLINE TRADERS IN SHOREHAM-BY-SEA
There are particular niche businesses where a specialist bookkeeper may be required. If exchange rate transfers, international and cross-border taxes, online payments and multi-currency processing are involved, for instance if you manage an online store, you will be wise to hire a bookkeeper in Shoreham-by-Sea who's familiar with these operations. If you hold or produce the goods that you sell through that shop, then it's going to be a vital priority for your bookkeeping services and software to regulate your your stock on a 24 hours a day basis, because of course, the internet does not sleep.
In conjunction with bookkeeping services, it is also possible to establish a virtual office. Providing a physical connection to their clients, this enables a sole trader or online only business to have a telephone service and postal address. Not all bookkeeping businesses in Shoreham-by-Sea will be able to supply this option, however it is worth talking about if it's something that could be of benefit.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It's not necessary for a qualified Shoreham-by-Sea bookkeeper to have a degree, and many of the bookkeeping qualifications are held at Certificate or Diploma level. If the chosen route to qualification is via further education universities and colleges, this is still a possibility, although there there is a number of online bookkeeping courses.
To provide certification and training for bookkeepers, there are basically 2 primary organisations of interest:
The AAT (Association of Accounting Technicians): Providing advanced qualifications and a training schedule, the Association of Accounting Technicians (AAT), enables fully trained bookkeepers to use the letters AATQB after their name. They can then become authorised AAT bookkeepers, approved by this reputable organisation, which promises a decent standard of service for their clients. To protect the credibility of the AAT, if an AAT bookkeeper has a complaint filed against them or is found to have broken the code of practice they can be liable to disciplinary and tribunal procedures.
The Institute of Certified Bookkeepers or ICB: The Institute of Certified Bookkeepers or ICB is the largest in the world and provides accreditation to certified bookkeepers, in addition to reference material and training to keep their members up-to-date.
By viewing the register of AAT or ICB members on their respective websites, it's possible to determine the qualifications of any professional bookkeeper. Carrying out this check is strongly recommended before you employ any local bookkeeper in Shoreham-by-Sea.
Bookkeeping services are available in Shoreham-by-Sea and also in nearby places like: Woodmancote, Fishergate, Findon, Upper Beeding, Broadwater, Wiston, Coombes, Goring, Small Dole, Fulking, together with these postcodes BN43 5DU, BN43 5FN, BN43 5GS, BN43 5AS, BN42 4DU, BN43 5LG, BN43 5EZ, BN43 5LF, BN43 5AN, BN43 5HZ. Locally based Shoreham-by-Sea bookkeeper services will likely have the postcode BN43 and the telephone dialling code 01273. Checking this will guarantee you access locally based bookkeepers. Shoreham-by-Sea sole traders and business owners are able to utilise these and countless other comparable services.
A bookkeeper in Shoreham-by-Sea can provide small business owners with a convenient and efficient solution for their VAT return needs, allowing them to focus on other essential areas of their business. All aspects of your VAT return, including determining the amount of VAT you owe or are owed, filing your return with HMRC, and keeping accurate records of your transactions, can be efficiently managed by. On top of that, a local bookkeeper can provide you with valuable guidance on how to minimize your VAT liability and ensure that you are taking advantage of all eligible VAT claims. A bookkeeper can ensure that your VAT returns are dealt with effectively and accurately, which can help you feel secure and allow you to invest more time in the development of your business in Shoreham-by-Sea. In summary, engaging a bookkeeper in Shoreham-by-Sea 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.
Using a Bookkeeper for Tax Returns
You may need to file a self-assessment tax return if you are self-employed or have a small business in Shoreham-by-Sea. This task can be especially daunting if you aren't acquainted with the process. Keeping your records in order and preparing your tax return on time and accurately are both things that a decent bookkeeper can help you with.
There are a number of benefits to employing a bookkeeper to do your tax returns. They'll have the experience and expertise to make certain that your return is completed correctly. This will help you avoid any penalties or interest that HMRC may charge. Secondly, a lot of hassle and time can be saved by a bookkeeper. They will take care of all of the paperwork and calculations, so you can focus your attention on running your business. Third, Shoreham-by-Sea bookkeepers can provide you with valuable advice on tax planning and other financial concerns. This can help you to lower your tax liability and boost your profits. (70193)
Shoreham-by-Sea Bookkeeper Tasks
Most Shoreham-by-Sea bookkeepers will be ready to offer you the following services: bookkeeping services for clubs, bookkeeping and accounting, bookkeeping for charities in Shoreham-by-Sea, bookkeeping services for pubs, independent bookkeeping services, general bookkeeping services in Shoreham-by-Sea, bookkeeping services for tradesmen, QUOTE FORM provided. We'll get back to you with specifics just as soon as we can.in Shoreham-by-Sea, bookkeeping services for small business Shoreham-by-Sea, cash flow analysis, bookkeeping for freelancers, invoice processing, Shoreham-by-Sea, business bookkeeping, financial statement preparation, VAT returns, bookkeeping services for societies, bookkeeping quotations, , partnership tax returns, wages & PAYE, Sage bookkeeping services, franchise bookkeeping, maintaining fixed asset registers, landlord bookkeeping, accountancy packages Shoreham-by-Sea, bookkeeping for startups, bookkeeping for sole traders, management reports, Xero bookkeeping in Shoreham-by-Sea, and more. Listed are just some of the duties that are conducted by local bookkeepers. Shoreham-by-Sea professionals will let you know their entire range of bookkeeping services. If there happen to be other Shoreham-by-Sea bookkeeper requirements that you want but don't see here, you can list them on the
Bookkeepers Near Shoreham-by-Sea
Also: Small Dole bookkeepers, Woodmancote bookkeepers, Broadwater bookkeepers, Fishergate bookkeepers, Upper Beeding bookkeepers, Goring bookkeepers, Findon bookkeepers, Fulking bookkeepers, Wiston bookkeepers, Coombes bookkeepers and more.
- VAT Returns
- Wages and PAYE
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- Self-Assessment Returns
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- Bookkeeping Quotations
- Small Business Bookkeeping
- Credit Control
- Tax Preparation
- Cash Flow Management
- Payroll Services
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Bookkeepers Around Shoreham-by-Sea: People living in these nearby Shoreham-by-Sea areas and roads have just recently requested bookkeeping services - Cheal Close, Surry Street, Shirley Close, Southview Close, Dolphin Road, Tarmount Lane, The Kestrels, The Drive, Ship Street, Steyning Road, Buckingham Street, Beach Green, Shoreham Airport, St Marys Close, Colvill Avenue, Clarendon Road, Bergamot Crescent, Crown Road, Ashcroft Close, Annington Gardens, Thyme Close, Cypress Close, The Meadway, St Julians Close, Saffron Close, as well as the following Shoreham-by-Sea area postcodes: BN43 5DU, BN43 5FN, BN43 5GS, BN43 5AS, BN42 4DU, BN43 5LG, BN43 5EZ, BN43 5LF, BN43 5AN, BN43 5HZ.
Bookkeeping Jobs Shoreham-by-Sea: View bookkeeping jobs near Shoreham-by-Sea by going here: Shoreham-by-Sea Bookkeeping Jobs
More West Sussex Bookkeepers: More Bognor Regis, Worthing, East Grinstead, Chichester, Shoreham-by-Sea, Hurstpierpoint, Burgess Hill, Crawley, Littlehampton, Haywards Heath, Southwick, Horsham, Rustington, Southwater and Lancing.:
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Bookkeepers in BN43 area, 01273.
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