Bookkeepers Stansted Mountfitchet Essex (CM24): You are responsible for keeping "true and fair", accurate financial and accounting records for a minimum of 6 yrs, if you are a sole trader, operate an online store or own a small business in Stansted Mountfitchet, according to the 2006 Companies Act. Failing to produce such records might leave you faced with disqualification as a Company Director, together with a fine of thousands of pounds. You can complete these financial records on your own, although when you consider that according to the trade magazine Accounting Today over forty percent of small businesses spend over eighty hours every year doing their accounts, it can be more cost-effective to use a professional bookkeeper or accountant.
If you are filled with dread simply thinking about preparing profit, loss and fiscal reports, filling out ledgers, compiling balance sheets or tracking assets and liabilities, then the time to contact a bookkeeper in Stansted Mountfitchet for guidance and advice has arrived.
BOOKKEEPER OR ACCOUNTANT?
"Just what is the distinction between an accountant and a bookkeeper?" Is a question that is asked by a lot of small business owners in Stansted Mountfitchet. The fact is that while in the past the process of bookkeeping, was regarded as beneath the qualifications, skill set and experience of an accountant, due to software developments over the past decade, a lot of accountancy firms in Stansted Mountfitchet will now consider taking on bookkeeping. To ensure their bookkeeping services are consistent with a typical bookkeeper's fee, it's now quite common for accounting firms to charge a flat rate for such services. As it offers a greater variety of competition within this sector, this is excellent news for small businesses in Stansted Mountfitchet, making their bookkeeping costs far more manageable than they previously were.
The level of training and qualification required is the main difference between an accountant and a bookkeeper. At least a degree in accounting with specialist training in taxation and other business and fiscal management, will normally be held by an accountant. While having an understanding of these fiscal procedures, a bookkeeper in Stansted Mountfitchet may not necessarily have these qualifications or levels of training and experience.
RESPONSIBILITIES OF A BOOKKEEPER IN STANSTED MOUNTFITCHET
In simple terms, the bookkeeping process is to record the daily transactions (financial) of any business or enterprise in Stansted Mountfitchet. This may include, but isn't limited to;
- VAT recording and submissions.
- Monthly reporting and reconciliation.
- Highlighting any discrepancies in the financial accounts and rectifying them.
- Documenting invoices received and making certain payment is completed on time.
- Billing of customers for work completed or goods.
- Logging of all financial incomings; including card, electronic and cash payments.
- Payroll services.
- Ensuring accounting and double-entry bookkeeping practices are followed at all times.
Contingent upon service level you require, a professional bookkeeper might only be needed to double check your accounts every so often, if you're happy to carry out the vast majority of your own bookkeeping work. At the bare minimum this should be done each month, to enable the rapid identification and rectification of any problems or mistakes. Provided that you are confident of keeping in control of your financial transactions without impacting on your daily trading operations, this option can be the most cost-effective trade-off.
It's a good bet that if you are looking at hiring a bookkeeping service in Stansted Mountfitchet, you are currently having problems with the financial recording aspects of your small business. Offering advice on everything from invoicing, stocktaking and generating expense reports, a decent bookkeeping company will also be able to help you link your business accounts with the most suitable computer software to facilitate the seamless processing of all your business's data.
The reconciliation of accounts payable with cash flow is one of the most important elements of good bookkeeping. Which means that by organising bill payments to a time when your accounts are in good shape, your bookkeeper will avoid the mistake that a lot of small businesses in Stansted Mountfitchet are guilty of doing i.e. paying an outstanding bill straight away, or waiting on a final notice. This not only keeps your business financially stable, but keeps you in favour with suppliers and the businesses who provide you with services. When, as an individual, you are mostly focussed on the smooth running of your daily business activities, this is a balancing act that can be difficult to perform.
If you're a sole trader, or own a small business, using a competent bookkeeper in Stansted Mountfitchet, also gives them an opportunity to cast a critical eye over the running of your business. Business trends and patterns that might have gone unnoticed might be pinpointed by this type of objective assessment. It is not uncommon for a bookkeeper to spot an opportunity or flag up an area of the business which is falling in profits. Such key performance indicators (KPI's) are important in driving the growth of any business in Stansted Mountfitchet.
Having to pursue a late payment can be a fairly awkward scenario for you, if you give out invoices as part of your business operations. If that telephone call or visit to your customers is done by somebody outside your normal business bubble, it is possible for most of that awkwardness to be eliminated. There are legal solutions that a professional bookkeeper can use, if you've got problems with a repeating late or non-payer, and they can help to clear up the situation before the matter ends up in a claims court proceeding.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some relatively straightforward sole trader bookkeeping requirements, which are laid out by law. Sole traders are required to keep a record of income and expenditure on a monthly basis and save all invoices and receipts. It is still recommended that you retain the expert services of a competent bookkeeper, even if this might sound simple enough. So that you can claim back genuine business expenses from HMRC, a specialist sole trader bookkeeper in Stansted Mountfitchet will be able to advise you on what you have to do. This might include items such as laptops, rent and bills if working from home, consumables, stationery goods and advertising expenses. Talk to your local bookkeeper for more comprehensive advice and see how they may be able to help your business grow.
BOOKKEEPING FOR ONLINE TRADERS IN STANSTED MOUNTFITCHET
There are niche areas in bookkeeping where a specialist could be essential. If you run an online store for instance, you'll require a bookkeeper in Stansted Mountfitchet who understands multi-currency processing, online payments, exchange rate transfers and international and cross-border taxes. If you produce or hold the goods that you sell through that shop, then it is going to be a huge concern for your bookkeeping services and software to maintain your stock on a 24 hours a day basis, because the internet does not sleep.
A virtual office can also be supplied together with bookkeeping service. Providing a physical link with their customers, this enables an online only business or sole trader to have a postal address and phone service. Although this option might not be provided by all bookkeepers in Stansted Mountfitchet, it's certainly worth discussing the possibilities if this is something that could be advantageous.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It is not mandatory for a certified Stansted Mountfitchet bookkeeper to hold a university degree, and a lot of the bookkeeping qualifications are held at Certificate and Diploma level. Although there's an ever-increasing selection of online bookkeeping courses available, qualifications can still be obtained through further education colleges and universities, if that is the chosen route.
There are two main training and certification organisations representing bookkeepers:
The ICB or Institute of Certified Bookkeepers: Providing accreditation to certified bookkeepers, along with training and reference material to ensure their members are informed about the latest trends, the Institute of Certified Bookkeepers or ICB is the largest organisation anywhere in the world.
The Association of Accounting Technicians or AAT: Entitled to use the letters AATQB, a fully trained member of the Association of Accounting Technicians (AAT) will have completed advanced qualifications and a training schedule in bookkeeping practice. They are then allowed to become certified AAT bookkeepers, which promises their clients a decent standard of service which is backed by the organisation. If a bookkeeper who's affiliated with the AAT is found to have violated the code of practice or has a complaint filed against them, they may be liable to tribunal and disciplinary processes to preserve the values and integrity of the aat membership.
By visiting the register of AAT or ICB members on their respective websites, you're able to confirm the qualifications of any professional bookkeeper. Carrying out this check is strongly recommended before you hire the services of any bookkeeper in Stansted Mountfitchet.
Bookkeeping services are available for people living in in Stansted Mountfitchet and also nearby in: Quendon, Broxted, Widdington, Berden, Henham, Stansted, Clavering, Ugley, Mountfitchet, Elsenham, Manuden, Birchanger, Bishops Stortford, Farnham, together with these postcodes CM24 8RJ, CM24 8PL, CM24 8NR, CM24 8NW, CM24 8FX, CM24 8QA, CM24 8PB, CM24 8GW, CM24 8EZ, CM24 8QB. Local Stansted Mountfitchet bookkeeper services will probably have the postcode CM24 and the telephone dialling code 01279. Checking this will make certain that you access local bookkeepers. Stansted Mountfitchet sole traders and business owners can utilise these and countless other related services.
Stansted Mountfitchet Bookkeeper Tasks
Most bookkeepers in Stansted Mountfitchet will be ready to offer you the following bookkeeping services: landlord bookkeeping Stansted Mountfitchet, bookkeeping for sole traders, bookkeeping services for restaurants Stansted Mountfitchet, Quickbook bookkeeping, Sage bookkeeping, mobile bookkeeping services, bookkeeping services for small businesses in Stansted Mountfitchet, accounting and bookkeeping, small business bookkeeping in Stansted Mountfitchet, cash flow analysis, franchise bookkeeping Stansted Mountfitchet, bookkeeping for clubs, bookkeeping services for organisations, professional bookkeeping services, bookkeeping quotations, accountancy packages Stansted Mountfitchet, double-entry bookkeeping, management reports, bookkeeping and accounting services, bookkeeping services for societies, bookkeeping services in Stansted Mountfitchet, off-site bookkeeping services Stansted Mountfitchet, bank reconciliations in Stansted Mountfitchet, independent bookkeeping services, Self-Assessment tax returns in Stansted Mountfitchet, bookkeeping for charities, VAT returns, credit control, and more. Listed are just an example of the activities that are carried out by local bookkeepers. Stansted Mountfitchet professionals will be happy to tell you about their whole range of bookkeeping services. If there happen to be additional Stansted Mountfitchet bookkeeper requirements that you need but can't see here, you can list them on the QUOTE FORM provided. We will get back to you with details just as soon as we are able.
Bookkeepers Near Stansted Mountfitchet
Also here.: Bishops Stortford bookkeepers, Elsenham bookkeepers, Quendon bookkeepers, Mountfitchet bookkeepers, Stansted bookkeepers, Manuden bookkeepers, Berden bookkeepers, Farnham bookkeepers, Widdington bookkeepers, Clavering bookkeepers, Birchanger bookkeepers, Henham bookkeepers, Ugley bookkeepers, Broxted and more. All these places are served by local bookeepers. Stansted Mountfitchet businesses can get quotes for bookkeeping services by clicking
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Bookkeepers Around Stansted Mountfitchet: People who live in these Stansted Mountfitchet areas have recently inquired about bookkeeping services - Old Bury Lodge Lane, Tall Trees Caravan Park, Woodfield Mews, Pines Hill, Mountfitchet Road, Meadowcroft, Jordon Close, Rochford Close, Mission Hall Lane, Spindles Lane, Hargrave Close, The Campions, St. Johns Crescent, West Road, Windmill Close, Grey Close, Millside, Croasdaile Road, Walson Way, Stoney Place, Alderbury Road, St. Johns Lane, Maitland Road, Gall End Lane, The Spinney, Gilbey Crescent, Recreation Ground, Queens Close, Bentfield Close, as well as the following local Stansted Mountfitchet postcodes: CM24 8RJ, CM24 8PL, CM24 8NR, CM24 8NW, CM24 8FX, CM24 8QA, CM24 8PB, CM24 8GW, CM24 8EZ, CM24 8QB.
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Stansted Mountfitchet Bookkeeping Jobs: Browse bookkeeping jobs near Stansted Mountfitchet by going here: Bookkeeping Jobs Stansted Mountfitchet
Bookkeepers in CM24 area, telephone code 01279.
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