Bookkeepers South Benfleet Essex (SS7): For anybody in South Benfleet who operates an online store, runs a small business or acts as a sole trader, it's their sole responsibility to keep accurate, "true and fair" accounting and financial records for a minimum of 6 yrs. This is in accordance with the Companies Act. You may face a hefty fine, and perhaps Company Director disqualification, if you can't produce these records. There is a considerable investment of time involved with maintaining these financial records on your own, and it can pay to use a professional bookkeeper or accountant, since according to Accounting Today over forty percent of small business owners spend at least 80 hours per year doing their bookkeeping activities.
If the idea of tracking liabilities and assets, writing ledgers, creating profit, loss and fiscal reports or producing balance sheets brings you feelings of dread, then the time has come to contact a bookkeeper in South Benfleet for guidance and advice.
BOOKKEEPER OR ACCOUNTANT?
A common query that is asked by most people in South Benfleet is "What is the difference between a bookkeeper and an accountant?" The truth is that while in past times a lot of accountants considered the bookkeeping process to be beneath their experience, qualifications and skill-sets, a lot of accountancy companies in the South Benfleet area will now undertake bookkeeping, because of huge software improvements over the past 10 years. To keep their bookkeeping services in step with a dedicated bookkeeper's fee, it is now fairly common for many accountancy firms to charge a set rate for these services. Business owners are now benefiting from this, as it offers a wider variety of competition within the marketplace and can mean that the cost of bookkeeping is much more affordable than it would previously have been.
When you are considering the differences between an accountant and a bookkeeper in South Benfleet, the most notable one is the amount of training that is needed for each discipline. An accountant will, at the very least, hold an accounting degree, and should have also had specialist training in fiscal and business management, and taxes. A bookkeeper in South Benfleet may not necessarily have the same levels of training and experience, or hold these qualifications, but should still have a good grasp of these skills.
RESPONSIBILITIES OF A BOOKKEEPER
The recording of daily financial transactions of any business enterprise in South Benfleet, describes the process of bookkeeping in the simplest of terms. This is likely to include, but is by no means limited to;
- Highlighting and rectifying any discrepancies in financial accounts.
- Payroll services.
- The billing of clients for goods or work completed.
- Monthly reports and reconciliation.
- VAT recording and submissions.
- Documenting of all financial incomings; card, cash and electronic payments included.
- Recording the receipt of invoices and making certain that payment is completed punctually.
- Making sure that double-entry bookkeeping and accounting practices are implemented.
Based upon service level you're looking for, e.g. you are willing to undertake most of bookkeeping work; a professional bookkeeper may only be necessary for double-checking your records on a set schedule. To allow for any problems or mistakes to be found and corrected swiftly, this should be done on a monthly basis at the bare minimum. This could be the most cost-effective trade-off, providing you're able to stay in control of your monetary transactions without affecting your everyday business activities.
It's fairly likely that if you are looking at hiring a bookkeeping company in South Benfleet, you are currently stressed with the financial recording side of your small business. A professional bookkeeper will be able to offer assistance with everything from creating expense reports, stocktaking and invoicing, to linking the most up-to-date computer software with your accounts to allow the seamless sorting of data.
The ability to reconcile accounts payable with cash flow, is an especially important aspect of a good bookkeeper. This means that instead of paying off a bill straight away, or waiting for an overdue notice, which many small businesses are guilty of doing, your bookkeeper will arrange the payment of bills to times when your accounts are in good shape. This does not just keep you in the good books of suppliers and those who supply services to you, but also makes certain that your business enterprise is financially secure. This is one of those balancing acts that can be hard to perform when you are mainly focussed on the smooth running of your day to day business activities.
If you are a sole trader, or operate a small business, employing an experienced bookkeeper in South Benfleet, also gives them the opportunity to cast an impartial eye over the running of your business. This unbiased appraisal can permit them to see business trends and patterns that might have gone unnoticed. It's not unheard of for a bookkeeper to spot an opportunity or flag up an area of the business where profits are falling. Spotting these key performance indicators is vital for enabling growth in any enterprise in South Benfleet.
If invoices are sent out by your company it can sometimes be uncomfortable to pursue late payments. Some of that awkwardness can be taken away by having someone outside your normal business bubble make that phone call or visit to your client. If you have problems with a consistent late payer there are legal strategies a professional bookkeeper can employ to help resolve the situation before the issue winds up in a claims court.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal bookkeeping requirements for a sole trader, are comparatively straightforward and simple. It is stipulated that a sole trader must monitor income and expenditure from month to month and retain all receipts and invoices. While this may sound easy it is still advisable to retain the expertise of a bookkeeper. A professional sole trader bookkeeper in South Benfleet can advise you on what you're able to claim back from HMRC as business expenses. This could include rent and bills if you work from home, advertising expenses, items such as computing equipment, consumables and stationery goods. For more comprehensive advice, talk to your bookkeeper, and discover how they may be able to help your small business to thrive and grow going forward.
There are niche areas in bookkeeping where the expertise of a specialist could be necessary. As an example, if you run a store online, you'll be wise to employ a bookkeeper in South Benfleet who is familiar with exchange rate transfers, international and cross-border taxes, online payment procedures and multi-currency processing. If that same store sells goods that you hold or produce, then keeping track of your inventory on a 24/7 basis is a crucial priority, as I'm sure you will realise the internet doesn't sleep, so nor should your bookkeeping software or services.
Together with bookkeeping services, it is also possible to provide a virtual office. Offering a physical connection to their buyers, this allows an online only business or sole trader to have a telephone service and postal address. If this type of service is needed, it is definitely worth discussing, although this option won't be supplied by all bookkeepers in South Benfleet.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A qualified South Benfleet bookkeeper doesn't need to hold a university degree and many the industry qualifications are at Certificate or Diploma level. If the preferred route to qualification is through further education universities and colleges, this is still a possibility, whereas there there is an ever-increasing selection of online bookkeeping courses.
There are two principal certification and training organisations representing bookkeepers:
The Association of Accounting Technicians (AAT): The AAT or Association of Accounting Technicians provides a training schedule with advanced qualifications allowing a fully trained member to use the letters AATQB after their name. This then allows them to become a authorised AAT bookkeeper and assures a minimum standard of service which is backed up by the association. To safeguard the credibility of AAT membership, if an AAT bookkeeper has a complaint filed against them or is found to have broken the code of practice they could be subject to disciplinary and tribunal processes.
The Institute of Certified Bookkeepers or ICB: The ICB or Institute of Certified Bookkeepers is the largest in the world and provides accreditation to bookkeepers, in addition to reference material and training to keep their associated members up-to-date.
By going to their respective websites, you're able to examine the register of AAT or ICB members, to verify the qualifications of any professional bookkeeper. Undertaking such checks is always a good idea before actually using the services of any bookkeeper in South Benfleet.
Bookkeeping services are available in South Benfleet and also in: Galmington, Rawreth, Pitsea, Nevendon, Daws Heath, North Benfleet, Canvey Island, Hadleigh, Fobbing, Vange, Weir, Benfleet, Rayleigh, Basildon, Shotgate, Thundersley, together with these postcodes SS7 1QA, SS7 1LP, SS7 1LT, SS7 1HD, SS7 1DX, SS7 4BS, SS7 1JS, SS7 1NH, SS7 4DG, SS7 4ES. Local South Benfleet bookkeeper services will most likely have the telephone dialling code 01268 and the postcode SS7. Verifying this will make sure that you access local bookkeepers. South Benfleet sole traders and business owners are able to benefit from these and lots of other similar services.
South Benfleet Bookkeeper Tasks
Most South Benfleet bookkeepers will be willing to provide you with the following bookkeeping services: off-site bookkeeping services, cheap bookkeeping services, letting agent bookkeeping South Benfleet, bookkeeping for tradesmen South Benfleet, credit control in South Benfleet, payroll bookkeeping, bookkeeping services for freelancers, tax returns in South Benfleet, management reports, professional bookkeeping services, business bookkeeping, bookkeeping for societies in South Benfleet, Sage bookkeeping, landlord bookkeeping South Benfleet, franchise bookkeeping South Benfleet, bookkeeping prices in South Benfleet, bookkeeping for startups South Benfleet, bookkeeping for clubs, Quickbook bookkeeping in South Benfleet, Self-Assessment tax returns, mobile bookkeeping services, bookkeeping services for retail outlets South Benfleet, management accounts, invoice processing, bookkeeping services for shops, payment services, Kashflow bookkeeping, PAYE & wages, and more. These are just some of the duties that are performed by local bookkeepers. South Benfleet companies will be delighted to keep you abreast of their whole range of bookkeeping services. If there are some other South Benfleet bookkeeper requirements that you want but don't see here, you should mention them on the QUOTE FORM provided. We'll be in touch with information just as soon as we are able.
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Bookkeepers Near South Benfleet
Also here.: Thundersley bookkeepers, Rayleigh bookkeepers, Basildon bookkeepers, Fobbing bookkeepers, Nevendon bookkeepers, Weir bookkeepers, Rawreth bookkeepers, Benfleet bookkeepers, Galmington bookkeepers, Pitsea bookkeepers, Shotgate bookkeepers, North Benfleet bookkeepers, Vange bookkeepers, Canvey Island bookkeepers, Daws Heath bookkeepers, Hadleigh and more. All these locations are served by local bookeepers. South Benfleet traders and businesses can get fees for bookkeeping services by clicking
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Bookkeepers Around South Benfleet: People who live in these nearby South Benfleet areas have just recently enquired about bookkeeping services - Herongate, Castle Lane, Seaview Terrace, Kenneth Road, Louisa Avenue, Bentonwood, Glenridding, Borrowdale Close, Hamley Close, Windsor Gardens, Kingsley Lane, The Close, Uplands Road, Ridge Mount, Temple Close, Parkfields, Swallow Drive, Gifford Road, Kents Hill Road North, Clarence Road North, Hedge Lane, Tyrrell Road, Grangeway, Sydney Road, Thundersley Park Road, Hazel Close, St. Clements Road, Grangewood, Hilltop Avenue, Alma Road, Thornbridge, Fairview Walk, Hall Farm Close, as well as these local South Benfleet postcodes: SS7 1QA, SS7 1LP, SS7 1LT, SS7 1HD, SS7 1DX, SS7 4BS, SS7 1JS, SS7 1NH, SS7 4DG, SS7 4ES.
South Benfleet Bookkeeping Jobs: Find bookkeeping jobs in South Benfleet by going here: Bookkeeping Jobs South Benfleet
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Bookkeepers in SS7 area, phone code 01268.
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