Various Services You Can Obtain From A Professional Bookkeeper Bedford.

For any small business owner who can't afford to employ a dedicated bookkeeper

, the services provided by an external bookkeeper should fit like a glove. They will not only maintain your accounting records, but also prevent you from getting into trouble with the VAT and income tax offices. Let us have a brief look at what a Bookkeeper Bedford can do for you:

Firstly, you need proper accounting records such as a general ledger, journals, a cash book, a petty cash book and records of your assets and equipment. Without these you can't draw up financial statements, compile VAT or tax returns and you also won't even know if your business is making a profit or a loss.

Secondly any bookkeeper can compile management accounts for you on a regular basis. These accounts include sales reports, cash flow statements, balance sheets and income/expenditure statements. With the help of this type of information you will be able to clearly see the financial situation of your business at the end of every month and whether your activities resulted in a profit or not.

The monthly statements can then be used to draw up your financial statements at the end of the year. These are in turn necessary so you can complete your tax returns and it will also clearly show you what how much profit or loss your business made for the year and what the accumulated profit or loss was at the end of the year.

Most bookkeepers will also provide you with the option to submit your regular VAT and other similar statutory returns, as well as the tax return at the end of the year. Business owners generally hate to do this and it takes a level of expertise and knowledge which most of them don't possess anyway, so this is best left in the hands of someone who is familiar with all the legal requirements.

Many bookkeepers provide other specialised services as well. Some of them can run your payroll on a computerised system, handle your monthly debtors accounts, pay creditors and manage your inventory system. Discuss your requirements with a local Bookkeeper Bedford to determine which of these services he can offer you.

by: Fiona Hunt

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