What's the difference between a bookkeeper and an accountant? Do I need both?
Bookkeepers are responsible for processing the paperwork for businesses’ financial transactions accurately and efficiently. They are knowledgeable and able to provide advice regarding debits and credits, the chart of accounts, accounts payable procedures, sales and accounts receivable, payroll, and more.
However, bookkeepers are unable to give you guidance or advice about financial investments or tax issues as they are not qualified in these areas. In addition, Companies House requires that annual accounts are submitted by a qualified accountant.
Ideally, your business would use both a bookkeeper and an accountant, as they have different areas of expertise. Having both onboard provides peace of mind - especially useful for busy business owners who are responsible for all the different activities required to run a business, not just bookkeeping and accounting but sales, marketing, administration and carrying out the work itself!
As a bookkeeper and accountant team, NH Bookkeeping is able to help keep the financial side of your business running smoothly. Depending on your requirements, we can undertake as much or as little as you require, from acting as support to being responsible for your business's accounts so that you are free to use your resources elsewhere in your business.
Why should I outsource? Can't I do it myself?
You can maintain your own records, however, accounts can be time consuming and complex if you encounter a tax or VAT issue or are unsure of best practice. If you are busy running or growing your business it is likely that you lack the resources to dedicate to proper accounting, and if you don’t enjoy it either it will quickly become a burden. With a multitude of responsibilities to run a business day-to-day it’s all too easy to forget a VAT return or miss a payment.
Outsourcing to experts like us gives you peace of mind ensuring everything is running smoothly with the accounting side of your business and frees up your time to allow you to focus on other business activities.
I already have an accountant - can you work with them?
Yes, we are happy to liaise with your own accountants.
How does your service work? Will you come to my offices and collect paperwork?
The beauty of using an online system is that there is no need for us to come to your offices - we can collaborate with you via the accounting software and access everything we need to process crucial financial requirements such as VAT returns. Please take a look at our Services page for a full list of what we can help with.
What are the benefits of using an online accounting system?