Advantages of Hiring a Chartered Accountant

Some might think that a general accountant is capable of carrying out almost every activity. However, it is necessary to understand that there is a difference between an accountant and a chartered accountant. Hiring a chartered accountant can make valuable additions to your existing finance team.

Chartered accountants in Kent have a unique set of skills and undergo a vigorous training period before qualifying to work as a CA. There are several benefits of hiring a charted accountant, it includes:

Level of Expertise

CAs are thorough professionals with deep financial expertise. They maintain their knowledge through rigorous practice and experience from continuous professional development.

A CA would think from a broader perspective and are efficient in considering all the complex relationships of a business such as performance measurement, financing, risk management, taxation etc. while decision making.

Help In Strategizing

If you are planning a new business, a CA would provide you information about the different business formats and the risks involved in each of them. Only a CA has the knowledge to shape a specific business plan into a suitable form of a structure such as a proprietorship, a joint venture, a partnership or a corporation. A bookkeeper Kent would also inform you about the norms like preparing and publishing accounts and filling returns etc.

Cost Controlling

A CA can be of great use in drawing budgets for your business activities and analyzing the company’s performance on that budget. He would also help you have a balance in the fixed and variable costs, timely alert you of repayments, tax dues, and other financial obligations.

Divestitures, Mergers and Acquisitions

Creating a synergy between two companies is not that easy. It includes coming together of everything from assets, liabilities, people and other resources. Acquiring and divesting in companies also uproots the need for tax planning. A CA can provide you with right advice and industry knowledge through these processes, ensuring a profitable and smooth transition.

Lastly, a CA would help in tax compliance as well. Tax laws evolve and modify on a continual basis. A tax expert like chartered accountant can help you improve corporate accounting systems, prepare tax and returns, minimize tax deferrals, manage relations with provincial, federal and municipal tax authorities.

Bookkeeping Tips on Creating and Tracking Customer Invoices

When creating customer invoices, you need to consider the basic and fundamental things that you will be including, because omitting some things can affect your tracking. Furthermore, you need to emphasize on having an invoice and tracking system for your business.

You can request an accountant in Dartford or bookkeeping expert in Dartford to help with designing a good invoice.

1. Things to include consider when designing an invoice

(a) The company logo, address and phone number

(b) Sequential invoice number: This can help the business to track your invoice. It also helps a customer track the invoice for payment. 

(c) Invoice date

(d) Payment terms: You can include some conditions under which the vendor should complete a sale, for instance in relation to the date of payment, discounts accruing to the buyer, and other conditions such as conditions for receiving discounts. For instance, you might want to offer a discount if the payment is done within three days of receiving the invoice. Other conditions include cash on delivery, using documentary credits and receiving cash before shipment. Designing the conditions depends on the type and needs of the business at hand.

(e) Other details include customer bill to information, work performed-job site or place where the products will be shipped, PO number and/or contact of the customer, description of work completed, freight where applicable and taxes.

2. Consider templates: Accountants in Dartford or experts for bookkeeping Dartford can provide a template when developing your invoice. You can then point out the information to add or remove. In doing outsourced accounting, these experts can design your invoices to send to your customers in form of pdf or print out. They can also be saved in the excel form and provided to you.

3. Fast in creating invoices: Creation of invoices through accountant in Dartford or bookkeeping experts in Dartford should be faster and easy because they use accounting software yet. The experts will help you track and know  who owes you what and when.

4. Make it easy to track: Tracking customer invoices should be easy through use of the customer name, invoice number, invoice date, payment terms, due date and dollars due. You can enter in the amount paid, when and where it was paid at, and even feature the balances. Accounting software also helps to remember which and when a customer should send in a cheque, which is necessary because you might forget. You can also set automatic reminders.

Choosing One of the Best Accountants in Kent

Whether you are a budding entrepreneur or a successful owner of a well established firm, you will definitely be requiring the services of a competent chartered accountant to make your business run smooth. While some people prefer to hire one of the best online accountancy firms, others prefer to sign up with local chartered accountants in Kent.

Whether you are planning to hire online or are willing to explore the choices in the local market, there are certain parameters that need to taken into consideration while making the final choices. Here is the list of some important factors that you need to consider in order to hire the best Accountants in Kent.

Certification Is Vital- The accountant that you are planning to hire must have certifications from the right authority or the relevant board. Accountants who do not possess the right certification often lure their clients by offering cheap services. But money should not matter, when it is the subject of hiring the best accountant for your own business. Chartered accountants who pass out from prestigious institutes definitely have better understanding of their field.

Check What They Charge- It is right not to fall for highly cheap services even if you are not satisfied with the certifications of the accountant. But at the same time, do not blindly allow the chartered accountant to charge you heavily just because he holds the right certificates. The fee charged by a chartered accountant should be reasonable. You can check this by getting in touch with multiple chartered accountants in Kent. This will give you a fair idea about the genuine charges associated with accounting services.

Experience Matters- This is an important point to be considered, especially if you are in your start-ups. Hiring an inexperienced accountant can be pretty fallible for a business that is in its preliminary stages. With so many things to handle, and with your limited amount of experience, you may not be able to go far with an inexperienced accountant to guide you. Hence, choose one of the most experienced Accountants in Kent, who has the experience of dealing with bigger corporate firms. His/her experience will be of great advantage to your business.

Don’t miss the track record- Experience is vital, but track record is important too. The professional record of an accountant helps you in verifying his/her credibility. You can make use of different sources to know more about the accountant that you are interested in hiring. Experts believe that the best way to evaluate the career of auditors and accountants is to check their professional graph during the period of recession. Best of the professionals are rewarded or appreciated during such times and the ones that aren’t quite good are often laid off. So, this can give you a fair idea about the caliber of the chartered accountant that you plan to hire for your business.

You can use these tips to choose one of the best chartered accountants in Kent to work for your business firm.           
           

How to Choose an Efficient Accountant

An accountant is a trusted advisor who guides the financial operations and ensures adequate inflow and outflow of money as required. Choose the right person for your business to help it function smoothly.

It is wise to hire a good accountant for your business as he can help in the payroll systems and accounting properly. This would definitely save you a lot of money and time in future. A competent accountant offers good tax and business suggestions and helps to prepare and maintain your year end finance's.

Here are suggestions of how to choose the right accountant for your business:

Determining the Business Requirements from an Accountant:

The first step is to write down your business needs. You should determine how the accountant can be helpful for your business before looking for one. A good accountant in Dartford would do more than simple bookkeeping Dartford. He would make sure all your paperwork is complete and compliant.

Extensive Research:
The next step is to carry out an extensive research by talking to colleagues and peers. You can ask your friends, families, attorney and peers for recommendations. You can even get in touch with reputed organizations to find a suitable accountant.

Interview A Couple of Accountants:

After making a list of accountants from extensive research, it is advisable that you interview many of them before choosing one. It is important for you to know about the expertise and experience of your accountant in the specific field of your business. You should also know about his fees and whether he relies on his juniors to do the day to day work.

Carry Out Background Check:

It is mandatory to ask for references from the past clients and conduct background checks before hiring an accountant. Make sure their fees fit into your budget and they offer specialized services in order to support you in case of audits.

Review Performance:

After hiring an accountant, review his performance quarterly. Make use of these meetings to review finances and to make sure that your partnership is moving on the right track.

Find some of the most technically savvy, proficient, experienced and affordable accountants in Dartford at Blue Rocket Accounting. The company offers competent accountants who not only have expertise in accounting but even provide technical advice essential for running a business efficiently.