Bookkeepers Sittingbourne Kent (ME9): For anybody in Sittingbourne who runs an online store, acts as a sole trader or operates a small business, it's their sole responsibility to maintain accurate, "true and fair" financial and accounting records for a minimum of six years. This is according to the Companies Act (2006). Failing to produce such detailed records might leave you faced with Company Director disqualification, along with a hefty fine. You can undertake these financial records on your own behalf, yet when you consider that according to Accounting Today over 40% of small business owners spend at least eighty hours annually doing their bookkeeping, it can be more economical to employ a professional accountant or bookkeeper.
If the thought of creating profit, loss and fiscal reports, writing ledgers, compiling balance sheets or tracking liabilities and assets fills you with a sense of panic, then it is time to contact a bookkeeper in Sittingbourne for advice.
BOOKKEEPER OR ACCOUNTANT?
Just what is the distinction between a bookkeeper and an accountant is the first question that springs to mind for most small business owners in Sittingbourne. The fact is, because of substantial software improvements over the past decade or so many accountants in the Sittingbourne area will consider taking on bookkeeping, which was previously considered to be beneath their skill set, qualifications and experience. To ensure their bookkeeping services are in step with a dedicated bookkeeper's fee, it's now quite common for many accounting firms to have a fixed rate for these services. This is excellent news for business owners in Sittingbourne because it generates a wider range of competition within the marketplace and can make your bookkeeping costs more affordable than previously imagined.
The standard of training required is the main difference between an accountant and a bookkeeper. An accountant will normally a least hold an accounting degree with additional training in the field of taxation and other fiscal and business management. Whilst having a really good understanding of such skills, a bookkeeper in Sittingbourne may not necessarily have the qualifications or levels of experience and training.
RESPONSIBILITIES OF A BOOKKEEPER
The bookkeeping process in simple terms, is the recording of the daily monetary transactions of any business in Sittingbourne. This will likely include, but is in no way limited to;
- The billing of customers for work completed or goods.
- VAT recording and submissions.
- Monthly reconciliation and reports.
- Highlighting any discrepancies in financial accounts and rectifying them.
- Payroll services.
- Documenting the receipt of invoices and making certain payment is completed punctually.
- Documenting of all financial incomings; including cash, electronic and card payments.
- Ensuring double-entry bookkeeping and accounting practices are followed at all times.
If you are happy to perform the majority of your bookkeeping work yourself; a bookkeeper might only be needed to double check your figures on a fixed schedule. To enable any mistakes or problems to be identified and rectified promptly, this ought to be monthly as a bare minimum. If you are confident of staying in control of your everyday financial transactions and trading, this trade-off can sometimes be the most economical solution.
Whatever the situation is with your small business, if you are seriously considering hiring a bookkeeper in Sittingbourne, there is a fair chance that you may be struggling with the process of recording your financial information. A professional bookkeeping service will be able to assist you in linking your business accounts with the latest software application to enable the seamless processing of transactional data, and will offer advice and guidance on things such as invoicing, stocktaking and generating expense reports.
The ability to reconcile accounts payable with cash flow, is an especially important aspect of a good bookkeeper. Which means that by optimising the payment of bills to times when your accounts are buoyant and in good shape, your bookkeeper will avoid the thing that most small businesses are guilty of at some time or other i.e. paying an outstanding bill straight away, or waiting on a final notice. In addition to keeping your enterprise or business financially sound, this also stands you in good stead with service providers and suppliers. When you're focussed on the smooth running of your business, this is a balancing act that can be tough to accomplish as an individual.
For your small business, or if you are a sole trader, employing an experienced bookkeeper in Sittingbourne, presents you with the chance to have an unrelated eye cast over your financial situation. It's entirely possible that an independent assessment like this will showcase business patterns and trends that have previously been missed. A bookkeeper spotting a new opportunity or flagging up an area of the business which is plummeting in profits, is not at all unheard of. Spotting these key performance indicators (KPI's) is important for the success and growth of any small business in Sittingbourne.
If your business sends out invoices it can sometimes be uncomfortable having to pursue late payments. If that telephone call or visit to your client is made by a person from outside your normal business bubble, it's possible for some of that apprehension to be removed. If you've got a persistent late payer there are legal strategies that a professional bookkeeper can employ to help resolve the situation before the matter ends up in a claims court.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The requirements for bookkeeping by a sole trader, as set out in law, are fairly uncomplicated and easily understandable. Sole traders are required to track income and expenditure on a monthly basis and save all invoices and receipts. While this might sound easy it is still recommended that you hire the expertise of a bookkeeper. So that you will be able to claim back all valid business expenses from HMRC, a dedicated sole trader bookkeeper in Sittingbourne will be able to give you advice on what you need to do. This could include advertising, bills and rent if you work from home, items such as computing equipment, consumables and stationery goods. Chat to a trusted bookkeeper for more detailed advice and learn how they may be able to help your business to grow and prosper.
BOOKKEEPING FOR ONLINE TRADERS
Specialisedare needed from time to time for certain niches in bookkeeping. You'll require a bookkeeper in Sittingbourne who understands exchange rate transfers, online payments, multi-currency processing and cross-border and international taxes, if you run an online store for instance. If that same outlet sells goods you hold or produce, then supervising your inventory and stock on a 24 hours a day basis is a major priority, after all the internet never sleeps, therefore neither should your bookkeeping services and software.
Together with bookkeeping service, it's also possible to establish a remote virtual office. This enables a sole trader or online only business to have a postal address and phone service to provide a physical connection to their buyers. Although this option might not be supplied by all Sittingbourne bookkeeping businesses, it is certainly worth a discussion if this service is something that could be beneficial.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It's not necessary for a professional Sittingbourne bookkeeper to hold a university degree, and a good number of the bookkeeping industry qualifications are held at Diploma or Certificate level. Although there is an ever-growing variety of online courses available, bookkeeping qualifications can still be gained via further education colleges and universities, if that is the preferred route.
Bookkeepers are represented by 2 principal certification and training organisations:
The Association of Accounting Technicians (AAT): Entitled to use the letters AATQB, a fully trained member of the AAT (Association of Accounting Technicians) will have completed a training schedule and advanced qualifications in bookkeeping. They then become accredited AAT bookkeepers, backed up by this well-respected organisation, which assures a certain standard of service for their customers. To protect the credibility of the AAT, a bookkeeper who's affiliated with the AAT can be subject to tribunal and disciplinary processes if a complaint is filed against them or they are found to have broken the code of conduct.
The ICB or Institute of Certified Bookkeepers: The largest organisation anywhere in the world is the the Institute of Certified Bookkeepers or ICB, and it offers accreditation to qualified bookkeepers, along with training and reference material to ensure their members are up-to-speed with the latest trends and innovations.
The accreditations of any Sittingbourne bookkeeper can be verified on the register of ICB or ATT members on their websites. Performing this check is widely recommended before you hire the services of any local bookkeeper in Sittingbourne.
Bookkeeping services are available in Sittingbourne and also in nearby places like: Milstead, Kemsley, Bapchild, Oad Street, Snipeshill, Tunstall, Rodmersham Green, Chestnut Street, Highsted, Milton Regis, Rodmersham, Rainham, Murston, Chalkwell, Bobbing, Borden, Tonge, Upchurch, together with these postcodes ME10 1SB, ME10 1QW, ME10 1SF, ME10 1AJ, ME10 1HQ, ME10 1BF, ME10 1AR, ME10 1HL, ME10 1ER, ME10 1EP. Local Sittingbourne bookkeeper services will most likely have the phone code 01795 and the postcode ME9. Verifying this can make certain that you're accessing locally based bookkeepers. Sittingbourne sole traders and business owners will be able to utilise these and many other bookkeeping related services.
Bookkeeping Sittingbourne - Outsourcing Options
All businesses in Sittingbourne should understand the significance of bookkeeping. It helps business people monitor their outgoings and incomings, the money left in the bank, the total value of their assets and liabilities, and so on. With the business owner having to deal with the issues and concerns of running a business, the task of carrying out the bookkeeping is often outsourced to a bookkeeping company or freelance bookkeepers in Sittingbourne.
If a company in Sittingbourne hires a bookkeeper in order to join their ranks, the company will need to spend a substantial amount of money in training the person for the purpose of doing the bookkeeping tasks. In addition to that, there is no guarantee that he or she will stay after the training is completed. In that case, the company stands to lose a considerable amount of money. Apart from that, businesses will have to look for ways and means to provide benefits and incentives to keep the employee there. These are a few of the reasons behind business organisations enlisting the services of professional bookkeepers and bookkeeping companies in Sittingbourne.
Sittingbourne Bookkeeper Tasks
Most Sittingbourne bookkeepers will be able to provide you with the following bookkeeping and accounting services: management accounts, QUOTE FORM provided. We will get back to you with specifics as soon as we are able., bookkeeping for shops, Xero bookkeeping services Sittingbourne, bookkeeping for sole traders, bookkeeping for self-employed people Sittingbourne, bookkeeping for small businesses, PAYE & wages in Sittingbourne, bookkeeping services for tradesmen, professional bookkeeping services Sittingbourne, mobile bookkeeping services, in Sittingbourne, charity bookkeeping Sittingbourne, Self-Assessment tax returns, accountancy packages, bookkeeping for limited companies, bookkeeping for retail outlets Sittingbourne, bookkeeping and accounting services, cash flow analysis, payroll bookkeeping, tax preparation, Quickbook bookkeeping services, bookkeeping quotes, VAT returns, Sage bookkeeping services, off-site bookkeeping, bookkeeping services for societies, accounting and bookkeeping, credit control, bookkeeping for pubs, and more. These are just a handful of the tasks that are handled by local bookkeepers. Sittingbourne providers will keep you informed about their full range of bookkeeping services. If there are some other Sittingbourne bookkeeper requirements that you want but cannot see here, you should list them on the
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Bookkeepers Near Sittingbourne
Also here.: Milton Regis bookkeepers, Tunstall bookkeepers, Rodmersham Green bookkeepers, Rainham bookkeepers, Milstead bookkeepers, Bapchild bookkeepers, Murston bookkeepers, Borden bookkeepers, Snipeshill bookkeepers, Tonge bookkeepers, Rodmersham bookkeepers, Chalkwell bookkeepers, Oad Street bookkeepers, Highsted bookkeepers, Kemsley bookkeepers, Bobbing bookkeepers, Chestnut Street bookkeepers, Upchurch and more. All of these villages and towns are catered for by local bookeepers. Sittingbourne traders and businesses can get pricing for bookkeeping services by going
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Bookkeepers Around Sittingbourne: People who live in the following roads have recently inquired about bookkeeping services - Brenchley Road, Springfield Road, Staplehurst Road, Dennis Willcocks Close, Smiths Orchard, Bishop Court, Bracken Court, Cumberland Drive, Blandford Gardens, Cambridge Road, Doubleday Drive, Broom Road, Blacketts Road, Avenue Of Remembrance, Cross Lane, Belle Friday Close, The Green, Sutton Baron Road, Albion Terrace, School Lane, Shakespeare Road, Curlew Avenue, Down Court Road, Todd Crescent, Cellar Hill, Bobbing Hill, Sheppey Way, Bannister Hill, Bonham Drive, as well as these local Sittingbourne postcodes: ME10 1SB, ME10 1QW, ME10 1SF, ME10 1AJ, ME10 1HQ, ME10 1BF, ME10 1AR, ME10 1HL, ME10 1ER, ME10 1EP.
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Bookkeepers in ME9 area, and dialling code 01795.
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