Bookkeepers South Ockendon Essex (RM15): If you are a sole trader, own a small business or run an online store in South Ockendon, you are responsible for maintaining "true and fair", accurate financial and accounting records for at least 6 years in accordance with the Companies Act (2006). You might be disqualified as a Company Director and face a hefty fine, if you cannot produce such records. Accounting Today magazine says that over forty percent of small businesses spend over 80 hours per year on their bookkeeping, therefore while you can carry out these financial records yourself, it can be more economical to use a professional accountant or bookkeeper to do them instead.
If you are filled with dread simply thinking about producing balance sheets, writing ledgers, preparing profit, loss and fiscal reports or tracking liabilities and assets, then the time to contact a bookkeeper in South Ockendon for guidance has arrived.
BOOKKEEPER OR ACCOUNTANT?
Exactly what is the difference between a bookkeeper and an accountant is the first question many small business owners in South Ockendon ask. In former days it was often deemed to be beneath the experience, skill set and qualifications of an accountant to do bookkeeping, however due to software developments over the past ten years or so, many bookkeeping tasks will now be carried out by accounting companies in South Ockendon. Many accounting companies now charge a set fee for bookkeeping services, to keep them commensurate with what a dedicated bookkeeper in South Ockendon would usually charge. Because it offers a wider range of competition within the industry, this is good news for small businesses in South Ockendon, making their bookkeeping costs more manageable than they previously were.
When you're considering the differences between an accountant and a bookkeeper in South Ockendon, the main one is the standard of training and qualification that's needed for each discipline. Typically holding a degree in accounting, a professional accountant will also have had training in tax preparation and additional qualifications in business and fiscal management. Althoughin South Ockendon will certainly have a fair grasp of these fiscal skills, they may not necessarily have the same levels of experience and training in this field, or hold these qualifications.
A BOOKKEEPER'S RESPONSIBILITIES
To explain in the simplest of forms, the bookkeeping process involves the careful recording of day by day transactions (financial) of any enterprise or business in South Ockendon. This can include;
- Recording invoices received and ensuring payment is completed punctually.
- VAT recording and submissions.
- Ensuring accounting and double-entry bookkeeping practices are followed.
- Monthly reporting and reconciliation.
- Highlighting and rectifying any discrepancies in financial accounts.
- Payroll services.
- Recording of all financial incomings; including electronic, card and cash payments.
- Billing of customers for work completed or goods.
While it depends on the extent of the service you are looking for, if you are able to carry out the larger part of bookkeeping work yourself, a bookkeeper might just be needed to double check your accounts periodically. To ensure that any problems or mistakes can be identified and rectified speedily, as a bare minimum, this ought to be monthly. As long as you're confident of staying on top of your financial transactions without having a negative impact on your day to day business operations, this trade-off can be the most cost-effective solution.
Whatever your circumstances, if you're considering hiring a bookkeeper there's a fair chance that you may be stressed with the financial recording side of your business in South Ockendon. A good bookkeeping company will help you out with everything from invoicing, creating expense reports and stocktaking, to linking your business accounts with the latest computer software to seamlessly process all of your financial data.
The ability to reconcile accounts payable with cash flow, is an especially crucial aspect of effective bookkeeping. This means that by scheduling the payment of bills to times when your finances are in the best possible position, your bookkeeper will avoid the thing that many small businesses are guilty of doing i.e. paying a bill straight away, or waiting on a final notice. This does not just keep your enterprise or business on a secure financial footing, but keeps you in the good books of suppliers and those businesses who provide you with services. This is a juggling act that can be challenging to perform as an individual when you are mostly focussed on the smooth running of your business.
If you're a sole trader, or own a small business, employing a certified bookkeeper in South Ockendon, also gives them an opportunity to cast a critical eye over the operation of your business. Business trends and patterns that you might have overlooked may be highlighted by this type of independent appraisal. A scenario where a keen eyed bookkeeper flags an area which is falling in profits, or identifies an opportunity that may be worthwhile, is by no means an unheard of occurrence. It is important for the growth and success of any business in South Ockendon, to spot such key performance indicators (KPI's).
It can often be rather awkward to pursue late payments if your company gives out invoices. If that phone call or visit to your clients is made by an individual outside your normal business bubble, it's possible for some of that embarrassment to be taken away. If you have problems with a persistent late or non-payer there are legal strategies a professional bookkeeper can make use of to help resolve the issue before the matter winds up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
The legal requirements for bookkeeping if you're a sole trader, are fairly straightforward and basic. It is required that a sole trader must keep track of income and expenditure on a monthly basis and retain all invoices and receipts. Now, this does not seem too tough does it? However, it's still advisable to retain the services of a bookkeeper to make certain that it's all done accurately. A specialist sole trader bookkeeper in South Ockendon will be in a position to advise you on what you might be able to claim back from HMRC as business expenses. This might include stationery goods, promotional advertising, printer ink, rent and bills if you work from home and items such as computing equipment. To discover how they can help your business to prosper and grow, chat to your local bookkeeper for more comprehensive advice.
BOOKKEEPING FOR ONLINE TRADERS
Specialisedare often required for particular niches in bookkeeping. You will need a bookkeeper in South Ockendon who is familiar with cross-border and international taxes, online payment procedures, multi-currency processing and exchange rate transfers, if you manage an online store for example. If that same shop sells goods you hold or produce, then regulating your stock on a 24/7 basis is an important priority, as I'm sure you're aware the internet doesn't sleep, therefore nor should your bookkeeping services and software.
In combination with bookkeeping services, a virtual office can also be supplied. This allows a sole trader or online only business to have a postal address and phone service to provide a physical connection to their clients. It is certainly worth discussing this possibility if it is something that could benefit you, although not all South Ockendon bookkeeping businesses will provide this service.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
A professional bookkeeper in South Ockendon doesn't need to hold a degree and a good many qualifications in this field are at Diploma and Certificate level. Although there are a array of online bookkeeping courses available, qualifications can still be obtained via further education universities and colleges, if that is the preferred route.
To provide certification and training for bookkeepers, there are basically two key organisations of interest:
The AAT (Association of Accounting Technicians): Entitled to use the letters AATQB, a fully trained member of the Association of Accounting Technicians (AAT) will have been provided with advanced qualifications and training in bookkeeping. This promises a minimum level of service to their customers which is backed up by the association, and enables them to become a accredited AAT bookkeeper. Bookkeepers who are affiliated with the AAT can can be liable to disciplinary and tribunal processes if a complaint is made against them or they are found to have broken the code of conduct. This helps to protect the integrity and values of the AAT membership.
The Institute of Certified Bookkeepers (ICB): Providing certification for qualified bookkeepers, along with training and reference material to ensure their members are up-to-date with the latest trends, the ICB or Institute of Certified Bookkeepers is the largest bookkeeping organisation anywhere in the world.
You are able to check the accreditations of any professional South Ockendon bookkeeper on the register of AAT or ICB members on their respective websites. It is a good idea to implement this check, before getting involved with any bookkeeper in South Ockendon.
Bookkeeping services are available in South Ockendon and also in: Orsett, Linford, West Horndon, Cranham, Dunton, North Ockendon, Bulphan, North Stifford, Horndon on the Hill, Dunton Wayletts, Ardleigh Green, Badgers Dene, and in these postcodes RM15 5EP, RM14 3QH, RM15 5PP, RM15 5BE, RM15 5DN, RM15 5QT, RM15 5AW, RM15 5DZ, RM15 5DW, RM15 5DH. Locally based South Ockendon bookkeeper services will most likely have the postcode RM15 and the telephone code 01708. Checking this out will make sure that you access locally based bookkeepers. South Ockendon sole traders and business owners can utilise these and countless other related services.
Franchise bookkeeping South Ockendon.
Essex Bookkeeping Enquiries
Recently posted Essex bookkeeping enquiries: Edward Bull from Hatfield Heath, Essex was asking about bookkeeping services for his construction firm. Elisha Ward needed a bookkeeper for her online marketing business close to East Tilbury, Essex. Victoria Mathews in St Lawrence was interested in a bookkeeper to do her Self-Assessment tax returns. Conor Speed neededfor his online marketing business in Little Clacton, Essex. Amy Rashid from Great Bardfield, Essex was looking for bookkeeping services for her spanish lessons business. Lennie Groves from Doddinghurst, Essex was searching for a bookkeeper for his golf club. Cleo Beveridge from Chalkwell was interested in bookkeeping for her garment company. Sana Snowden from Abridge, Essex was interested in bookkeeping services for her internet sales business. These local people searched for "Bookkeepers Essex" and located this webpage on either Google, Bing or Yahoo.
South Ockendon Bookkeeper Tasks
Most South Ockendon bookkeepers will be prepared to provide you with the following accounting and bookkeeping services: bookkeeping and accounting services in South Ockendon, payment services South Ockendon, bookkeeping services for freelancers South Ockendon, bookkeeping for retail outlets, bookkeeping services for restaurants, PAYE & wages, Sage bookkeeping services in South Ockendon, bookkeeping services for societies, Self-Assessment tax returns, bookkeeping services for limited companies, bookkeeping for tradesmen, cash flow analysis, independent bookkeeping services, letting agent bookkeeping South Ockendon, management reports, QUOTE FORM provided. We will be in touch with details just as soon as we can.South Ockendon, bookkeeping services for clubs in South Ockendon, Kashflow bookkeeping services in South Ockendon, tax returns, credit control, bookkeeping services for pubs, bookkeeping for organisations, bookkeeping for payroll, bookkeeping for home-based businesses, bookkeeping for charities, South Ockendon, bookkeeping services for startups, bookkeeping services for small business, and more. These are just a small portion of the activities that are handled by local bookkeepers. South Ockendon providers will keep you informed about their entire range of services. If there are other South Ockendon bookkeeper requirements that you want but cannot see here, you should mention them on the
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Bookkeepers Near South Ockendon
Also here.: North Ockendon bookkeepers, Orsett bookkeepers, Cranham bookkeepers, Bulphan bookkeepers, Dunton bookkeepers, West Horndon bookkeepers, North Stifford bookkeepers, Badgers Dene bookkeepers, Dunton Wayletts bookkeepers, Ardleigh Green bookkeepers, Horndon on the Hill bookkeepers, Linford and more. All these locations are serviced by local bookeepers. South Ockendon residents can get quotes for bookkeeping services by going
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Bookkeepers Around South Ockendon: People who live in these local South Ockendon roads and streets have recently enquired about bookkeeping services - Darenth Lane, Cam Green, Annalee Road, Celandine Close, Galey Green, Moss Road, Fairlane Drive, Eskley Gardens, Broxburn Parade, Kennet Green, Redwood Chase, Fortin Path, Buckles Lane, Juniper Drive, Orchard Road, Cliff Place, Buckles Lane, Rosies Way, Magnolia Close, Humber Avenue, Avontar Road, Bruyns Court, Derry Avenue, Groves Close, Copper Beech Road, Laburnum Grove, Benyon Path, Fullarton Crescent, as well as these South Ockendon area postcodes: RM15 5EP, RM14 3QH, RM15 5PP, RM15 5BE, RM15 5DN, RM15 5QT, RM15 5AW, RM15 5DZ, RM15 5DW, RM15 5DH.
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Bookkeepers in RM15 area, telephone code 01708.
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