"I need a bookkeeper"

Every month, we get at least one call from a businessperson and the first thing they say to us is "I need a bookkeeper to help me".

We understand that

Running a business is complicated and time-consuming and the time you need to spend keeping your books up to date is often taken up by your other responsibilities.

The true value of a bookkeeper is not just keeping your books up to date though – a good bookkeeper does far more than that.

The Business Bookkeeper is a professional and friendly team of certified bookkeepers serving clients in London and across the UK. For nearly a decade, we’ve helped clients navigate the often choppy waters of the business world and we’ve been partners to our clients as they attain their personal and professional financial goals.

Meeting between two business women

What does The Business Bookkeeper do?

Maintenance of financial records

Our bookkeepers correctly enter all of your financial transactions onto Xero - the money coming in and out of your business. If you don't accurately record how money moves through your account, you’ll lose sight of how profitable or viable your business is.

Payroll

We'll do all the admin required for your payroll calculations for you and your employee's wages deducting things like retirement contributions, income tax, and National Insurance. You'll know exactly what you need to pay yourself, your staff, HMRC, and pension providers and when. We also keep details of how we worked everything out in case of a tax inspection.

Bank reconciliation

We compare the record of your transactions (payments out and payments in) on your accounting software against the transactions showing on your bank statements. If they don't match up, this might indicate a deeper problem in your business – let us sort that out for you. Reconciliation also gives us all the information we need to assign deductible expenses correctly for your annual accounts – this means a lower tax bill for you.

Business strategy and processes

Want to make more money? Let us create profit-focused budgets and forecasts for your business and advise you on what you need on how to keep to them. We’ll also let you know if we discover ways you could be running your business smarter – better internal controls, more efficient admin, and better sharing of information between you and your colleagues.

Monthly management accounts

We can run standard and bespoke monthly management reports to let you know how your business is really doing. One of our most important roles as your bookkeeper is to provide you with real-time and accurate financial information and help you use that information to manage your business better.

Cash flow, accounts receivable, and accounts payable

We'll regularly run management reports on your aged receivables and aged payables. We'll advise you on which customers you should chase for payment and how much credit you should extend them as well as letting you know which suppliers you need to pay now to maintain a healthy relationship with them.

Why do you need a bookkeeper?

Why work with certified bookkeepers? What value do we add?

First, businesses create lots of paperwork. We appreciate that, for most small business owners, entrepreneurs, and the self-employed, dealing with paperwork and updating your accounting software (like Xero) is not work you want to do or you have been trained to do. We understand that you’d much rather be out there working on building your business.

When you work with certified bookkeepers like the team at The Business Bookkeeper, we make sure that all of your financial records and paperwork are kept accurate all of the time.

Our bookkeepers regularly bring your books completely up to date. You’ll know where your business is financially and how it’s doing at all times.

We’ll handle supplier invoices, invoices you’ve issued, purchase orders, credit notes, payroll, classifying and keeping track of expenses, and other accounting transactions for you. Your bookkeeper takes over the responsibility you currently have for all financial-related admin work.

With your up-to-date and accurate financial information, you’ll have the figures you need to, in partnership with your bookkeeper, make better decisions for your business. The Business Bookkeeper will produce regular reports for you on areas like your profit and loss, balance sheet, debtor days, and volume of transactions. We’ll also be able to explain what’s on each report in a language you understand and we’re happy to share our advice and knowledge with you at any time.

With us, you’ll also never have to franticly search for missing invoices and receipts at the end of the year or for when your Self Assessment or your VAT returns are due. The Business Bookkeeper makes sure that everything is up to date, properly classified, securely stored, and ready for your accountant or for HMRC when they need them.

Why hire a bookkeeper if I have an accountant?

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Many professional accountants stopped offering part-time bookkeeping services to their clients after the launch of accounting software packages like Xero. Instead, accountants essentially sub-contracted out the responsibility for bookkeeping function to the people they were meant to be serving – their clients – without giving them any real training on how they should be using Xero or one of its alternatives.

This lack of training proved to be a real problem. Often, the information held on their clients’ Xero accounts wasn’t good enough. Payments would be missing, purchase orders would be incomplete, bank reconciliations would not be done often enough, expenses weren’t properly classified.

Instead of saving accountants’ time, getting their clients to do the bookkeeping actually increased their workloads because they’d have to spend so long getting each clients’ books to the standards HMRC requires. That’s beginning to change. The Business Bookkeeper is now retained by many accounting firms so that they can offer a better standard of service.

Please get in touch – tell us about yourself, your business, where you feel you need assistance, and how we can help you achieve your personal and professional financial goals. To find out how we can help you, please call us on 020 3137 6565 or send us a message about working together.

Frequently Asked Questions

Useful information

We offer bookkeeping services to business owners, entrepreneurs, the self-employed, contractors, and freelancers. We update and maintain your financial records via online bookkeeping packages like Xero. 

Why is online bookkeeping important? It’s because tax is going digital. Making Tax Digital recently launched and it’s now how businesses pay the VAT that they owe. However, VAT is just the first of many taxes moving to the new system – corporation tax, Self Assessment, and many more will follow. 

Paper-based bookkeeping and accounting will be a thing of the past in a few short years. All businesses, including yours, need to go digital and your bookkeeper has to work digitally too.

In the United Kingdom, HMRC is the body responsible for the collection of taxes from individuals and companies. HMRC requires all business owners and company owners to maintain a minimum standard of bookkeeping so that they are assured that a business is being run responsibly and they pay the right amount of tax.

In addition to fining business owners and entrepreneurs for failing to keep professional-standard financial records, HMRC will also fine you if your submit your tax returns late or make late payment. When you work with certified bookkeepers, they protect you from fines like these by ensuring that your books are accurate, up-to-date, and to the required standard.

Wherever you’re based in the UK, our certified bookkeepers can work with you and your accountants to ensure that your books are always accurate and kept up to date and that you’re always in control of your finances.

Although we serve clients all over the UK, we’re based in London meaning that we have a unique perspective on the challenges and the opportunities faced by London business owners. For a local service from a national provider, please contact the Business Bookkeeper.

The Business Bookkeeper in Norbury is regulated by the International Association of Bookkeepers, holding a certificate of compliance, practice license number 1895. We hold professional indemnity insurance through Hiscox and are fully compliant with Money Laundering Regulations, and we are registered agents with HMRC.