so you're looking for an accountant?
You need an accountant to prepare year-end accounts and maybe tax returns. What am I doing at a bookkeeping site? you're thinking.
Bookkeeping fees are currently charged at the rate of £15 per hour.
But stop. Most people automatically reach for the "accountant button" when what they are asking for is bookkeeping.
(I know this to be true from Google adwords keyword tool. The number of searches on the term "accountant" is far higher than searches on "bookkeeper").
It is not surprising because that is what most people think of when they think of "accounts". Bookkeepers, if they think of them at all, are imagined to be those sitting in the back offices of medium size companies, carefully recording every penny that comes in and goes out.
Or they think
of a Bob Cratchit, hunched over a dusty ledger. Accountants of course, stride purposefully across plush
offices carrying portfolios about the latest mergers.
This image of bookkeepers is largely a myth. There is now a growing number of professional bookkeeping practices which offer a service ideally suited to sole traders and small businesses. They can carry out regular bookkeeping, prepare financial accounts, VAT returns, and many other things.
It is a fact that Certified Bookkeeping practices are supervised by the ICB who have been granted supervisory status from HM Treasury to enforce compliance with
Money Laundering Regulations (2007).
It is a fact, that certified bookkeepers are trained to not only diligently record transactions, but to prepare financial accounts, complete self assessments, make tax computations, file VAT returns, produce cash flow forecasts and even run payroll services.
It is also a fact, that certified bookkeepers can provide an ongoing bookkeeping service AND prepare year end accounts for a total cost of not more (and is some cases, less) than what a Chartered Accountant may charge just for preparing the accounts.