Bookkeepers Strood Kent (ME2): Regardless of whether you operate a small business, are a sole trader or run an online store in Strood, you're entirely responsible for keeping accurate, "true and fair" financial and accounting records for a minimum of six years to comply with the 2006 Companies Act. Failing to produce these records might leave you facing a fine of thousands of pounds and possible disqualification as a Company Director. It can pay you to employ a professional accountant or bookkeeping company to do this for you, given that according to Accounting Today over 40% of small business owners spend at least 80 hours annually doing their accounts, which is a significant investment of time, and could be better spent on actually running your business.
If just the thought of tracking liabilities and assets, producing balance sheets, preparing profit, loss and financial statements or filling out ledgers brings you feelings of panic, then the time has come to get in touch with a bookkeeper in Strood for guidance.
BOOKKEEPER OR ACCOUNTANT?
The very first question many small business owners ask is "Precisely what is the difference between an accountant and a bookkeeper?" The truth is that while in past times many accountants considered the task of bookkeeping to be beneath their experience, skill-sets and qualifications, a lot of accountancy firms in Strood will now undertake the task of bookkeeping, because of software improvements over the past 10 years or so. Most accounting firms now have a fixed rate for bookkeeping services, to keep them consistent with what an independent bookkeeper in Strood would generally charge. Business owners are now benefiting from this, because it offers a broader range of competition within this sector and can mean that the cost of bookkeeping is much more manageable than it would have been previously.
It is essentially the level of training and qualification that's needed for each of these disciplines, that reflects the main difference between a bookkeeper and an accountant in Strood. Usually holding a degree in accounting, a professional accountant should also have had training in tax law and additional qualifications in business and financial management. A bookkeeper in Strood may not necessarily have the same levels of training and experience, or hold these qualifications, but should still have a good grasp of such disciplines.
RESPONSIBILITIES OF A BOOKKEEPER
The recording of daily financial transactions of any business in Strood, describes the act of bookkeeping in simple terms. This can include;
- The billing of customers for work completed or goods.
- Logging invoices received and making sure that payment is completed on time.
- Highlighting and rectifying any discrepancies in the financial accounts.
- VAT submissions and recording.
- Logging of all financial incomings; electronic, cash and card payments included.
- Ensuring double-entry bookkeeping and accounting practices are observed.
- Monthly reports and reconciliation.
- Payroll services.
While it is dependent on the extent of the service you're interested in, if you're in a position to undertake the bulk of the bookkeeping work yourself, a professional bookkeeper might just be needed to double check your records periodically. As a bare minimum this ought to be done on a monthly basis, to enable the quick detection and rectification of any problems or mistakes. Provided that you are confident of remaining on top of your monetary transactions without affecting your everyday business activities, this trade-off can be the most economical solution.
It is a good bet that if you're thinking of hiring a bookkeeping company, you are currently having problems with the financial recording side of your business in Strood. A decent bookkeeping service will be able to give assistance with everything from stocktaking, preparing expense reports and invoicing, to linking your accounts with the latest, most up-to-date software program to enable the seamless pull-through of transactional data.
The reconciliation of cash flow with accounts payable is one of the most important aspects of a good bookkeeping service. This means that by organising the payment of bills to a time when your finances are buoyant and in good order, your bookkeeper will avoid the thing that a lot of small businesses are guilty of at some time or other i.e. paying a bill right away, or waiting for a final notice. This does not just keep you in the good books of suppliers and those people who supply services to you, but also makes certain that your business or enterprise is on a sound financial footing. This is one of those balancing acts that can be tricky to perform when you are mostly focussed on the streamlined running of your daily business activities.
If you're a sole trader, or own a small business, employing a professional bookkeeper in Strood, also gives them the chance to cast an eagle eye over the financial dealings of your business. Business patterns and trends that might have otherwise gone unnoticed may be highlighted by this type of dispassionate appraisal. It isn't uncommon for a bookkeeper to recognise an opportunity or flag an area which is dropping off in profits. Spotting these key performance indicators is vital for enabling growth in any business enterprise in Strood.
It can sometimes be awkward to chase up late payments if your company gives out invoices. If that phone call or visit to your customers is done by somebody from outside your business bubble, it's possible for some of that embarrassment to be taken away. If you have a persistent late or non-payer there are legal methods a professional bookkeeper can employ to help to clear up the issue before the matter ends up in claims court proceedings.
SOLE TRADER'S BOOKKEEPING REQUIREMENTS
There are some relatively basic bookkeeping requirements for sole traders, which are set out in law. It's stipulated that a sole trader should track expenditure and income from month to month and retain all receipts and invoices. Although this may initially sound easy, retaining the services of a competent bookkeeper is still a good idea. A professional sole trader bookkeeper in Strood will be in a position to advise you on what you might be able to claim back from HMRC as legitimate business expenses. This may include advertising expenses, stationery, bills and rent if you work from home, items such as computing equipment and printer ink. For more detailed advice, talk to your bookkeeper, and learn how they can help your business to thrive and grow in the future.
ONLINE TRADERS IN STROOD
There are some niche businesses where a specialist bookkeeper might be needed. For example, if you run an online store, you'll need to employ a bookkeeper in Strood who understands exchange rate transfers, cross-border and international taxes, online payments and multi-currency processing. If you produce or hold the merchandise that you sell with that store, then it's going to be a major concern for your bookkeeping software or services to regulate your your inventory on a 24 hours a day basis, since the internet does not sleep.
Together with bookkeeping service, it's also possible to supply a remote virtual office. Providing a physical link with their buyers, this enables a sole trader or online only business to have a postal address and phone service. Not all bookkeepers in Strood will be willing to provide this solution, however it's worth talking about if it is something that could benefit you.
PROFESSIONAL QUALIFICATIONS AND AFFILIATIONS
It's not mandatory for a qualified Strood bookkeeper to hold a degree, and many of the bookkeeping qualifications are held at Certificate or Diploma level. Bookkeeping qualifications can be obtained through further education colleges and universities but there's also a variety of courses offered online.
Bookkeepers are represented by two main training and certification organisations:
The ICB or Institute of Certified Bookkeepers: Keeping their members informed about the latest trends, the Institute of Certified Bookkeepers or ICB is the largest bookkeeping organisation on the planet, providing accreditation to certified bookkeepers, together with training and reference material.
The AAT or Association of Accounting Technicians: Providing advanced qualifications and a training schedule, the AAT or Association of Accounting Technicians, entitles a fully trained member to use the letters AATQB after their name. This assures a certain standard of service to their clients which is backed up by the organisation, and enables them to become a approved AAT bookkeeper. To preserve the trustworthiness of the AAT, if a bookkeeper who is affiliated with the AAT is found to have breached the code of conduct or has a complaint filed against them, they may be liable to disciplinary and tribunal procedures.
It is possible to check the qualifications of any Strood bookkeeper on the register of ICB or ATT members on their respective websites. Carrying out this check is highly recommended before employing any professional bookkeeper in Strood.
Bookkeeping services are available in Strood and also nearby in: Lower Upnor, Upper Upnor, Chattenden, North Halling, Cliffe Woods, Shorne, Wainscott, Frindsbury, Higham, Cuxton, together with these postcodes ME2 2BP, ME2 2AL, ME2 2DL, ME2 2DT, ME2 2RS, ME2 2DU, ME2 2PA, ME2 2DP, ME2 2EW, ME2 2JA. Locally based Strood bookkeeper services will probably have the telephone code 01634 and the postcode ME2. Verifying this can guarantee that you access local bookkeepers. Strood sole traders and business owners will be able to utilise these and lots of other similar services.
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Strood Bookkeeper Tasks
Most bookkeepers in Strood will be willing to offer you the following services: small business bookkeeping, invoice processing, bookkeeping services for startups, maintaining fixed asset registers, Quickbook bookkeeping services, franchise bookkeeping Strood, bookkeeping for sole traders, bookkeeping for restaurants, partnership returns, QUOTE FORM provided. We'll get back to you with information as soon as we are able.in Strood, tax returns Strood, accounting and bookkeeping services, bookkeeping for payroll Strood, , Kashflow bookkeeping in Strood, independent bookkeeping services, bookkeeping for societies Strood, accountancy packages, professional bookkeeping services, bookkeeping services, bookkeeping services for small business, bookkeeping services for pubs in Strood, bookkeeping services for shops, bookkeeping for clubs in Strood, profit & loss reports, general bookkeeping services, , tax preparation, bank reconciliations, Sage bookkeeping in Strood, and more. Listed are just a few of the tasks that are accomplished by local bookkeepers. Strood companies will be happy to inform you of their whole range of bookkeeping services. If there are different Strood bookkeeper requirements that you need but don't see here, you can mention them on the
Bookkeepers Near Strood
Also here.: Frindsbury bookkeepers, Upper Upnor bookkeepers, Wainscott bookkeepers, Chattenden bookkeepers, Cliffe Woods bookkeepers, North Halling bookkeepers, Cuxton bookkeepers, Lower Upnor bookkeepers, Higham bookkeepers, Shorne and more. All these places are serviced by local bookeepers. Strood people can get pricing for bookkeeping services by going
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Bookkeepers Around Strood: People who live in the following Strood streets and areas have just recently requested bookkeeping services - Richborough Drive, Rushdean Road, Canal Road, King Arthurs Drive, St. Michaels Court, Chelmsford Road, Friary Place, Cliffe Road, Victoria Street, Sycamore Road, Merryfields, Hillside Avenue, Commissioners Road, St. Marys Road, Wingrove Drive, Oswald Drive, Dean Road, Vicarage Road, Cranmere Court, Clarendon Drive, Gun Lane, Sherbourne Drive, High Street, Frindsbury Road, Wykeham Street, as well as the following local Strood postcodes: ME2 2BP, ME2 2AL, ME2 2DL, ME2 2DT, ME2 2RS, ME2 2DU, ME2 2PA, ME2 2DP, ME2 2EW, ME2 2JA.
If you want local information relating to Strood, Kent go here
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Bookkeeping Jobs Strood: View bookkeeping jobs in Strood by clicking here: Bookkeeping Jobs Strood
Bookkeepers in ME2 area, and dialling code 01634.
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