Discover the Bookkeeper's Superpowers!

Discover the Bookkeepers Superpowers
You’ve heard of Batman v Superman, Ironman v Captain America and Black Widow v Catwoman.

Superheroes all with different super powers and abilities.

But what about a couple of superheroes a bit closer to home, ones who can help small business in the day-to-day battle to survive, and then thrive.

We’re talking about Bookkeepers v Accountants.

And you might not realise just how useful a qualified bookkeeper can be in the running of a small and medium-sized business on a daily, weekly and monthly basis – depending on the size and complexity of your firm.

A bookkeeper can help you in a variety of ways:
 
  • Issuing invoices
 
  • Chasing unpaid invoices
 
  • Paying bills
 
  • Processing financial transactions into a software system
 
  • Collating paperwork such as purchase invoices, receipts and expenses claims
 
  • Preparing VAT returns
 
  • Running payroll
 
  • Helping with self-assessment tax returns
 
  • Preparing business plans and cashflow forecasts
 
  • Preparing management Accounts

In fact, using a bookkeeper can be like having your own part-time finance person working on a freelance or consultancy basis.

With modern technology, they don’t even have to be in your business premises – they can work from their own office or home which can add to the efficiency and cost effectiveness of the operation. Typically, a qualified bookkeeper will charge you between £25-£30 an hour.

Also, a bookkeeper will work alongside your accountant, making sure your financial records are up-to-date and ready for the accountant to finalise for HMRC.

The accompanying table can help you to work out whether you need a bookkeeper or an accountant to help you.
 
Task Bookkeeper Accountant
Process purchase invoices
Process expense claims
Issue sales invoices
Filing and document management
Chase customers for payment
Reconcile the bank account
Post journal entries
Prepare and file VAT returns
Run the payroll
Prepare sole trader accounts
Prepare sole trader self-assessment returns
Prepare limited company accounts
Corporation tax returns
Prepare complex self-assessment returns
Prepare management accounts
Prepare business plans and cashflow forecasts
Advise on business structure
Provide basic tax advice
Provide specialist tax advice

Why not speak to Kim at Granville Bookkeeping and see how she can help you. Call (01952) 402632 or 07814 690878, or email info@granvillebookkeeping.co.uk