Bookkeepers Shrewsbury Shropshire (SY1): You are responsible for keeping accurate, "true and fair" financial and accounting records for at least six years, if you are a sole trader, run a small business or operate an online store in Shrewsbury, as stated by the Companies Act (2006). If you are unable to produce this information you might face a hefty fine and possible Company Director disqualification. There is a substantial time investment involved with compiling such financial records yourself, and it is often better to employ a professional accountant or bookkeeping company, especially when you consider that according to Accounting Today magazine over 40% of small business owners spend eighty hours plus each year on their bookkeeping.
If you're filled with dread merely thinking about the possiblility of producing balance sheets, filling out ledgers, tracking liabilities and assets or creating profit, loss and financial statements, then the time to contact a bookkeeper in Shrewsbury for advice and guidance has arrived.
BOOKKEEPER OR ACCOUNTANT?
"What is the distinction between a bookkeeper and an accountant?" Is a question that's asked by a lot of people in Shrewsbury. At one time it was frequently considered to be to be beneath the qualifications, experience and skill-sets of an accountant to do the work of a bookkeper, but because of significant improvements in software over the past decade or so, many bookkeeping procedures will now be undertaken by accountancy firms in Shrewsbury. For many accountancy firms it's now fairly common to charge a flat rate for bookkeeping services, to keep them commensurate with the usual charges of an independent bookkeeper in Shrewsbury. This is excellent news for business owners in Shrewsbury since it gives a wider range of competition within the industry and can make your bookkeeping cheaper than previously thought.
When you are thinking about the differences between an accountant and a bookkeeper in Shrewsbury, the most notable one is the amount of training that is necessary for each of these disciplines. Normally holding a degree in accounting, a professional accountant should also have had training in tax essentials and additional qualifications in business and fiscal management. A bookkeeper in Shrewsbury will invariably have a good grasp of these disciplines, but might not necessarily have the same levels of experience and training, or hold these qualifications.
RESPONSIBILITIES OF A BOOKKEEPER
The act of bookkeeping in the simplest of terms, is the recording of the daily fiscal transactions of any business in Shrewsbury. This is likely to include, but is in no way limited to;
- Highlighting and rectifying any discrepancies in the financial accounts.
- Logging invoices received and ensuring that payment is completed promptly.
- Payroll services.
- The billing of customers for goods or work completed.
- VAT submissions and recording.
- Monthly reports and reconciliations.
- Ensuring accounting and double-entry bookkeeping practices are followed at all times.
- Logging of all financial incomings; cash, card and electronic payments included.
Whilst it depends on the kind of service you're interested in, if you're willing to undertake most of bookkeeping work yourself, a bookkeeper may just be needed to periodically double-check your figures. At the bare minimum this should really be done each month, to enable the swift detection and correction of any problems or mistakes. This may be the most cost-effective trade-off, as long as it's possible to stay on top of your monetary transactions without compromising your everyday business activities.
If you're presently thinking of hiring a bookkeeping firm in Shrewsbury, whatever your scenario, it is a good bet that you could be stressed with your tax and financial procedures. A good bookkeeping service will help you with everything from creating expense reports, invoicing and stocktaking, to linking your accounts with the latest software application to seamlessly process all of your transaction data.
The reconciliation of cash flow with accounts payable is one of the most important elements of good bookkeeping. Which means that your bookkeeper will optimise bill payments to times when your accounts are in the best possible position, rather than paying off a bill immediately, or waiting for a final notice, which a lot of small businesses in Shrewsbury are guilty of at some time or other. As well as keeping your business financially stable, this also maintains your reputation with your service providers and suppliers. When, as an individual, you're completely focussed on the operation of your day to day business activities, this is a balancing act that can be hard to perform.
Having an individual who is unconnected to the business cast a critical eye over your financial dealings, is another good thing about employing a competent bookkeeper in Shrewsbury if you are a sole trader, or for your small business. It is entirely possible that an unbiased appraisal like this will showcase business patterns and trends that you haven't previously noticed. A bookkeeper recognising a brand new opportunity or flagging an area which is falling in profits, is not at all unusual. For the future growth of any business enterprise in Shrewsbury, it is crucial that these key performance indicators (KPI's) are spotted as early as possible.
Pursuing a late payment can be an uncomfortable situation for you, if you give out invoices in your business operations. Having an independent person outside your normal business bubble, can take the apprehension out of making that telephone call or visit to your clients. A bookkeeper can use legal solutions to take care of a persistent late or non-payer, and without having to resort to claims court proceedings, help to clear up the issue.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
If you are a sole trader the requirements for bookkeeping, as set out in law, are fairly straightforward. This involves keeping all receipts and invoices in relation to the business, and keeping track of income and expenditure on a month by month basis. While this might sound simple enough it is still advisable to retain the expert services of a competent bookkeeper. So that you can claim back any valid business expenses from HMRC, a specialised sole trader bookkeeper in Shrewsbury will be able to advise you on what must be done. This may include bills and rent if you work from home, printer ink, advertising, items such as computing equipment and stationery goods. To see how they can help your small business to grow and prosper, chat to your local bookkeeper for more detailed advice.
BOOKKEEPING FOR ONLINE TRADERS IN SHREWSBURY
There are certain niche businesses where a specialist bookkeeper might be essential. If you run an online store for example, you're going to need a bookkeeper in Shrewsbury who is familiar with online payments, multi-currency processing, exchange rate transfers and international and cross-border taxes. Keeping track of inventory on a 24/7 basis is also a massive concern, if the same store distributes goods that you produce or hold, as I'm sure you'll appreciate the internet never sleeps, so neither should your bookkeeping services and software.
In conjunction with your bookkeeping services, a virtual office can also be provided. This is handy in allowing an online only business or sole trader to have a phone service and postal address to provide a physical connection to their customer base. Although this solution might not be supplied by all Shrewsbury bookkeepers, it's definitely worth talking about the possibilities if this is something that could be beneficial.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A professional bookkeeper in Shrewsbury doesn't need to have a university degree and a good many qualifications in this field are at Certificate or Diploma level. Qualifications can be gained via further education colleges and universities but there are also an ever-increasing number of courses offered online.
To provide certification and training for bookkeepers, there are basically 2 primary organisations of interest:
The AAT (Association of Accounting Technicians): The AAT or Association of Accounting Technicians provides a training schedule with advanced qualifications enabling fully trained bookkeepers to use the letters AATQB. They are then permitted to become authorised AAT bookkeepers, which assures their clients a certain standard of service which is backed up by the association. AAT bookkeepers can can be subject to disciplinary and tribunal processes if they have a complaint against them or are found to have broken the code of practice. This helps to safeguard the values and integrity of the AAT.
The ICB or Institute of Certified Bookkeepers: The Institute of Certified Bookkeepers (ICB) is the largest organisation of its kind in the world and supplies accreditation to bookkeepers, in addition to training and reference material to keep their members up-to-date.
By going to their websites, you are able to verify the qualifications of any bookkeeper on the register of AAT or ICB members. It is advised to perform this check, before you use the services of any professional bookkeeper in Shrewsbury.
Bookkeeping services are available in Shrewsbury and also in: Frankwell, Battlefield, Radbrook, Great Hanwood, Harlescott, Gravelhill, Upton Magna, Cherry Orchard, Ditherington, Annscroft, Montford Bridge, Sweet Lake, Bicton Heath, Coleham, Kingsland, Meole Brace, Uffington, Bicton, Atcham, Underdale, together with these postcodes SY1 1UN, SY1 1UD, SY1 1TR, SY1 1PN, SY1 1US, SY1 1BX, SY1 1UY, SY1 1JH, SY1 1TS, SY1 1LP. Locally based Shrewsbury bookkeeper services will likely have the postcode SY1 and the dialling code 01743. Checking this can ensure you're accessing locally based bookkeepers. Shrewsbury sole traders and business owners are able to utilise these and many other bookkeeping related services.
Charity bookkeeping Shrewsbury.
Shrewsbury Bookkeeper Tasks
Most bookkeepers in Shrewsbury will be prepared to provide you with the following accounting and bookkeeping services: charity bookkeeping Shrewsbury, bookkeeping for tradesmen, QUOTE FORM provided. We will get back to you with details just as soon as we are able.Shrewsbury, in Shrewsbury, general bookkeeping services in Shrewsbury, bookkeeping services for the self-employed Shrewsbury, mobile bookkeeping services, cash flow analysis, bookkeeping services, landlord bookkeeping Shrewsbury, bookkeeping services for restaurants in Shrewsbury, bookkeeping for home-based businesses, payroll bookkeeping, credit control in Shrewsbury, bookkeeping and accounting services Shrewsbury, bookkeeping for startups in Shrewsbury, tax preparation, tax returns, VAT returns in Shrewsbury, bookkeeping for limited companies in Shrewsbury, business bookkeeping, bookkeeping for charities in Shrewsbury, corporation tax returns, accountancy packages, company cash books in Shrewsbury, bookkeeping services for shops in Shrewsbury, bookkeeping services for organisations, management accounts, bookkeeping and accounting, bookkeeping for small businesses in Shrewsbury, and more. These are just a selection of the duties that are performed by local bookkeepers. Shrewsbury professionals will keep you informed about their whole range of services. If there are some other Shrewsbury bookkeeper requirements that you need but can't see here, you should mention them on the
Shropshire Bookkeeping Enquiries
Latest Shropshire bookkeeping enquiries: John Hogan in Clun, Shropshire was hunting for bookkeeping services for his public house. Adam Peebles from Ercall Magna, Shropshire was looking for a bookkeeper for his football club. Meredith Lockett from Whixall was looking for bookkeeping for her internet sales business. Nikhil Gillett in Ford was trying to find a bookkeeper to do his Self-Assessment tax returns. Patryk Paul from Donington was enquiring about bookkeeping services for his online business. Juliette Mcintosh was in need of a bookkeeper for her online marketing business near Bicton, Shropshire. Indi Irvine from Overdale, Shropshire was looking for a bookkeeper for her hockey club. Gruffydd Barlow in Kinnerley, Shropshire was asking about bookkeeping for his plastering business. All of these local clients searched for "Bookkeepers Shropshire" and located this web page on either Bing, Yahoo or Google.
Shrewsbury Bookkeeper Questions
In recent weeks I've been reviewing the questions that folks in Shrewsbury ask on the topic of bookkeeping. Some of our visitors sent in some obvious enquiries that I considered to be applicable to this blog post. The ones that I singled out were, What makes a good bookkeeper? Can a bookkeeper become an accountant? How can I get bookkeeper in Shrewsbury? Who needs a bookkeeper in Shrewsbury? Does a bookkeeper have to be registered? What are the advantages of a bookkeeper? How much is bookkeeping per hour? Can bookkeeping be done remotely? What do bookkeeping services offer? The vast majority of these questions hopefully have been covered on this page, and if not a bookkeeping "Questions and Answers" section is going to be introduced before very long. Thanks a lot to Ralph Clarke, Caiden Freeman, Shayan Pritchard and Jennifer Ashton, for posing these great questions. Offerings were also put forward by Clara Herbert in Annscroft, Hunter Casey in Upton Magna and Arianna Salmon in Radbrook.
Bookkeepers Near Shrewsbury
Also here.: Annscroft bookkeepers, Frankwell bookkeepers, Gravelhill bookkeepers, Sweet Lake bookkeepers, Cherry Orchard bookkeepers, Meole Brace bookkeepers, Coleham bookkeepers, Great Hanwood bookkeepers, Bicton bookkeepers, Harlescott bookkeepers, Battlefield bookkeepers, Underdale bookkeepers, Ditherington bookkeepers, Bicton Heath bookkeepers, Kingsland bookkeepers, Atcham bookkeepers, Upton Magna bookkeepers, Radbrook bookkeepers, Uffington bookkeepers, Montford Bridge and more. The majority of these locations are serviced by local bookeepers. Shrewsbury businesses and traders can get fees for bookkeeping services by going
- Shrewsbury Double-Entry Bookkeeping
- Shrewsbury Wages and PAYE
- Shrewsbury Self-Assessment Bookkeeping
- Shrewsbury Cheap Bookkeeping
- Shrewsbury Tax Preparation
- Shrewsbury Bookkeeping Quotes
- Shrewsbury Profit and Loss Reports
- Shrewsbury VAT Returns
- Shrewsbury Credit Control
- Shrewsbury Cash Flow Solutions
- Shrewsbury Tax Returns
- Shrewsbury Payroll Services
- Shrewsbury Small Business Bookkeeping
- Shrewsbury Sole Trader Bookkeeping
Bookkeepers Around Shrewsbury: People living in the following Shrewsbury roads and streets have recently enquired about bookkeeping services - Dale Road, Severn Way, Burley Street, Bardsley Drive, Summers Gardens, Caradine Road, Sandford Close, Bleachfield, Birch Close, Beehive Lane, Ashford Drive, Sundorne Castle, Corsten Drive, Alvaston Way, Conway Drive, Three Gates, Dunwoody Court, Shackleton Way, Clive Hall Flats, The Critt, Braidway Court, Crewe Street, Shotton Road, Battlefield Industrial Estate, Binweston, Capel Close, The Broadwell, Castle Meadows, as well as these Shrewsbury area postcodes: SY1 1UN, SY1 1UD, SY1 1TR, SY1 1PN, SY1 1US, SY1 1BX, SY1 1UY, SY1 1JH, SY1 1TS, SY1 1LP.
For local info relating to Shrewsbury, Shropshire take a look here
Bookkeeping Jobs Shrewsbury: See bookkeeping jobs near Shrewsbury here: Bookkeeping Jobs Shrewsbury
Bookkeepers in SY1 area, phone code 01743.
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