affordable bookkeepers

5 Affordable Business Bookkeeper Services in London

Table of Contents

Affordable Bookkeepers

Are you overwhelmed by the thought of having to keep track of your finances? 

Do you feel like you don’t have enough time in the day to manage everything that’s on your plate? If so, you’re not alone. Many small business owners and entrepreneurs struggle with financial matters.

Affordable bookkeeper services can take the burden off of your shoulders and help you get your finances under control. Here are five reputable companies that offer affordable bookkeeper services in London and the UK.

5 Affordable Bookkeeper Services in the UK

The following bookkeeping companies have a good reputation and constant 4-5* reviews:

1. Unicorn Accounts

Affordable bookkeeping services in London for small to medium-sized businesses.

⇒ Unicorn Price: ££

⇒ Sectors Unicorn operates: Technology, Professional Services, Entrepreneurs, Healthcare, Real Estate, E-Commerce, Legal Services, Retail, Financial Services

⇒ Services Unicorn offers: Accounting Services, Payroll Services, Outsourced Accounting, Company Formation, Xero Online Accounting, VAT Advice, Finance Director Services, R&D Tax Credits, Personal Tax, Management Reporting

⇒ Unicorn Office: 5 Merchant Square, London, W2 1AY

2. PBS Bookkeepers

Professional bookkeepers for a fixed monthly fee with over 30 Years’ experience providing bookkeeping and accountancy services.

⇒ PBS Price: ££ – £££

⇒ Sectors PBS operates: All Sectors including Startups, Entrepreneurs, Establishing New Businesses

⇒ PBS offers: Bookkeeping, Accounting, Auditing, Payroll, Tax Return, VAT Registration

⇒ PBS Offices:

  • 26 York Street, London, W1U 6PZ
  • 4 Old Park Lane, London, W1K 1QW
3. MH Services

Michael Hayden and his team have been offering bookkeeping, tax and accounting services for over 20 years in Manchester & London for SMEs, self-employed and Ltd.

⇒ MH Services Price: £ – ££

⇒ Sectors MH Services operates: Hospitality Industry, Entertainment, Retail, Tradesman, Healthcare, Real Estate, Small Businesses, Self-Employed, Contractors, Sales Representative

⇒ MH Services offers: Bookkeeping, Self Assessment, VAT Registration, Payroll, Tax Services, Account Management, Accounting Services, Company Formations

⇒ MH Services Offices:

  • Imperial Court, 2 Exchange Quay, Manchester M5 3EB
  • 25 Wilton Rd, Pimlico, London SW1V 1LW
4. Right Choice Consulting

A professional accounting team that has international experience in accounting and bookkeeping services.

⇒ Right Choice Consulting Price: ££

⇒ Sectors Right Choice Consulting operates: Business Professionals, Service Sectors, Manufacturing, Retail, Importing Businesses

⇒ Right Choice Consulting offers: Accounting, Tax Return, Payroll Managing, Bookkeeping, Accounts Management, Company Formation

⇒ Right Choice Consulting Office: 22 Peterborough Road, Harrow, HA1 2BQ

5. Accounting Preneur

The firm is run by entrepreneurial accountants who are business owners themselves, meaning they understand the daily challenges faced by business owners and what kind of help they need.

⇒ Preneur Price: ££

⇒ Sectors Preneur operates: Hospitality Accountants, Property Accountants, Start-ups, Small Businesses, Property Tax, UK and Ireland Company Formation

⇒ Preneur offers: Bookkeeping Services, Payroll Services, VAT Services, Corporation Tax Return Services, Self-Assessment Tax Return Services, Tax Advisory Services 

⇒ Preneur Office: Second Floor, 26 Goodge Street, Fitzrovia, W1T 2QG

bookkeeper services for businesses

What Does a Bookkeeper Do?

A bookkeeper is responsible for tracking and managing a company’s financial transactions. They maintain records of income and expenses, manage invoices and payments, and keep track of other financial matters.

– Bookkeepers are essential for businesses that need to focus on their day-to-day operations and do not have time to track their own finances.

– Also, bookkeepers can provide valuable insights into a company’s financial health and performance via additional data software. By analysing past transactions and trends, they can help business owners make informed decisions.

Services Bookkeeper Offer

A bookkeeper can offer a variety of services, depending on the needs of the business. typical services include bookkeeping, accounting, invoicing, and financial reporting. They can also help manage payroll, tax filings, and other financial matters.

Bookkeeping:

The most basic service a bookkeeper can offer is bookkeeping. This involves tracking and recording all of a company’s financial transactions. This includes income, expenses, invoices, and payments. This information is important for businesses to have an accurate picture of their financial health.

Accounting:

In addition to bookkeeping, a bookkeeper can also offer accounting services. This involves preparing financial statements, such as balance sheets and income statements. This information is important for businesses to understand their financial performance and make informed decisions.

Invoicing:

Another common service a bookkeeper can offer is invoicing. This involves creating and sending invoices to customers. This is important for businesses to ensure they are paid on time and manage their cash flow.

Financial Reporting:

A bookkeeper can also prepare financial reports, such as profit and loss statements. This information is important for businesses to understand their financial performance and make informed decisions.

Payroll:

A bookkeeper can also help businesses with their payroll. This involves managing employee salaries, tax withholdings, and other payroll-related matters. This is important for businesses to ensure their employees are paid on time and accurately.

Tax Fillings:

A bookkeeper can also help businesses with their tax filings. This involves preparing and filing tax returns. This is important for businesses to ensure they are compliant with tax laws and regulations.

What Qualifications Need a Bookkeeper?

You need at least a high school diploma or equivalent to become a bookkeeper. However, many employers prefer candidates with some post-secondary education in accounting or bookkeeping.

You also need to have excellent math skills and strong organisational skills. Additionally, you should be able to stay up-to-date on changes in tax laws and regulations.

Bookkeeping course providers:

  1. ATT – short bookkeeping qualification that takes from 2 to 12 months to complete
  2. Kaplan – an entry-level qualification that gives you the skills to become a bookkeeper
  3. Training Centre – range of bookkeeping courses that can be taken full-time, part-time or online
  4. IAB – courses are broken down into different levels, each level working towards the final qualification

Bookkeeper Salary and Cost

The average annual salary in the UK is £25K to £27K. However, it depends on the size of the firm and the sector it operates in and what position are you in: Junior, Senior, Partner etc…

=> £50K+ – partner bookkeeper

=> £35 – £45K – established /senior bookkeeper

=> £25 – £30K – beginner/apprentice bookkeeper

Bookkeepers rate:

Freelance bookkeepers usually charge between £15 and £30/ hour.

bookkeeper vs accountant

How Do You Find a Bookkeeper in the UK?

When looking for a bookkeeper in the UK, there are a few things to keep in mind.

  1. It is important to find a reputable company that has qualified bookkeepers.
  2. You should ask for references and reviews from previous clients.
  3. It is important to discuss the services you need and ensure that the company can meet your needs.

Where to Search for Bookkeepers in the UK?

Some good places to start your search for a qualified bookkeeper are online directories such as ICB or Xero. These directories have listings of qualified bookkeepers from around the UK. You can also ask your friends and family for referrals, or contact your local Chamber of Commerce for recommendations.

Or simply just use the Google search bar, type eg. London Bookkeeper

Once you have a shortlist of potential bookkeepers, it is important to interview them to make sure they are a good fit for your business. Some questions you may want to ask include:

⇒ What qualifications do they have?

⇒ What services do they offer?

⇒ How much do they charge?

⇒ What experience do they have working with businesses like yours?

Bookkeeper vs Accountant?

A bookkeeper typically tracks expenses, invoices, and other financial matters. Bookkeepers are not typically licensed to prepare tax returns, while accountants are.

An accountant typically prepares tax returns and provides other financial consulting services. 

Tax Returns

When it comes to tax returns, many business owners may feel overwhelmed or confused. This is where an accountant can be a great help to prepare and file their tax returns. This is important for businesses to ensure they are compliant with tax laws and regulations. Tax is due on the 31st of January every year, and businesses must file their tax return by the end of the tax year.

Business Bookkeeping & Financial Transactions FAQS

=> WHAT IS A FULL-SERVICE BOOKKEEPER?

Full service bookkeepers can be a valuable resource for small businesses that need assistance managing their finances but don’t have the time or resources to do everything themselves.

=> DIFFERENCE BETWEEN BOOKKEEPING AND BOOKKEEPER?

  • Bookkeeping is the recording of transactions, while a bookkeeper is someone who performs bookkeeping tasks. A business may do its own bookkeeping, or it may hire a bookkeeper to maintain its financial records.
  • Generally, bookkeepers are responsible for more than just basic bookkeeping tasks, such as preparing and filing taxes and reconciling bank accounts. They may also be responsible for tracking inventory and expenses and providing analysis and recommendations related to the business’s finances.

=> HOW MUCH SHOULD I PAY A BOOKKEEPER?

A bookkeeper in the United Kingdom will earn between £15 and £30 per hour. You should discuss the services you need with potential bookkeepers to ensure that they can meet your needs.

=> IS IT WORTH IT TO HIRE A BOOKKEEPER?

There is no one-size-fits-all answer to this question, as the cost and benefits of hiring a bookkeeper will vary depending on your business and its needs. However, hiring a qualified bookkeeper can be a valuable investment for businesses that need assistance managing their finances. your needs.

=> IS A BOOKKEEPER CHEAPER THAN AN ACCOUNTANT?

The answer to this question depends on the services you need and the qualifications of the bookkeeper. Accountants typically charge more than bookkeepers, and their services may be more suited to businesses with more complex financial needs.

Conclusion

Hiring a bookkeeper can be a valuable investment for businesses that need assistance managing their finances. Bookkeepers offer a range of services, such as preparing and filing taxes, reconciling bank accounts, and tracking inventory and expenses.

The cost and benefits of hiring our bookkeeper services will vary depending on your business needs. However, hiring a qualified bookkeeper can be a great way to take the stress out of financial management for small businesses.

If you need any support or bookkeeper services, MH Services has qualified bookkeepers and accountants who can help your business with all of its financial needs.

Accountants for Startups

5 Affordable Accountants for Startups in the UK

Table of Contents

Accountants For Startups

Starting a business is no easy task. There are so many things to think about, from the initial planning stages to the day-to-day tasks of running a company.

One thing that you don’t want to have to worry about is your accounting and finances. That’s why it’s important to find a good, affordable accountant who can help you with all of your startup needs.

In this blog post, we will discuss the top 5 affordable accountants for startups in the UK. We’ll also talk about some of the challenges associated with starting a business and how an accountant can help you overcome them!

What is a Startup Company?

A startup company is a newly founded business that is in the early stages of its development. These businesses are typically characterized by high uncertainty and risk, and they often require a lot of support in order to get off the ground.

That’s where accountants for startups can be handy and helpful to manage finances and overcome the challenges associated with starting a new business.

5 Affordable Accountants for Startups

1. Mazuma: ££

Online Accounting firm for small businesses, sole traders & micro-businesses across the UK. Help start-ups, sole traders, small businesses, freelancers and companies with all aspects of their accounts & tax.

2. MH Services: £ – ££

Bespoke accountants in Manchester at a cost you simply won’t find elsewhere. MH Services will actively look to reduce your tax liability whilst effectively managing all of your tax and accountancy compliance requirements.

3. Venn: £££

Venn Accounts are a good choice for small businesses looking to grow their finances. They offer an online accounting service that will help you better understand your numbers and take control of how they’re affecting business growth – no matter what size or industry type it may be!

4. Unicorn: ££ – £££

From tax planning to payroll whether it’s a small or large-scale business in need of accounting services – they’ve got a solution that will work best with your needs!

5. Parker Withwood: ££

Regardless of whether you’ve been in business for 10 months or 10 years, we are more than willing to help. Our main purpose is to provide specialist accounting and bookkeeping services that will reduce your workload, help you make crucial financial choices and increase your profitability.

Challenges of Starting a Business

Starting a business has the following most important challenges:

  1. Funding
  2. Developing a product/service
  3. Building a team
  4. Branding
  5. Marketing
  6. Business plan

An accountant can help you overcome these challenges by providing financial advice and guidance, as well as helping you to develop a sound financial plan for your business.

accountant for startups

Services Accountants for Startups Offer

Services that accountants offer startups vary but typically include:

Accountants can help you set up a system for tracking your expenses and income and can give you advice on how to make the most of your resources. They can also help you stay compliant with all of the relevant tax laws.

Hire an Accountant for a Startup

The cost of hiring an accountant for a startup varies depending on the size and complexity of your business. However, most accountants charge by the hour £25 – £35/h for basic services like working on your return, but for more complex work such as tax planning you could pay £150/h.

Find Advisors for Startup

When starting a business, it’s important to have a support network in place. This includes trusted advisors who can help you navigate the challenges of starting a company.

Tips on how to find the right advisors for your startup:

  1. Ask your friends and family for referrals.
  2. Look for accountants, lawyers, and other professionals at Google.
  3. Attend business networking events and meetups to connect with potential advisors.
  4. Browse online directories or websites that list advisors for startups.
  5. Ask the local Chamber of Commerce or Small Business Association for recommendations.

Startup Business Loan with Bad Credit

Starting a business is no easy task; bad credit can make it even more difficult. However, there are still options available for entrepreneurs who need funding for their startups.

OPTION 1:

– Several lenders offer loans specifically for startups, and many of them are willing to work with borrowers who have poor credit. However, you will likely need to provide collateral or offer a personal guarantee to be approved.

OPTION 2:

– Another option is to look for funding from private investors or venture capitalists. These sources of funding are typically more willing to work with businesses that have a less-than-perfect credit history.

OPTION 3:

– Finally, you can try to attract investors through crowdfunding. This involves raising money from a large number of people online, and it can be a great way to get started even if you have bad credit.

Do Startups Pay Dividends?

There is no one-size-fits-all answer to this question, as the decision to pay dividends depends on a variety of factors specific to each business.

However, many startups choose not to pay dividends in the early stages of their development, as they are typically more focused on growth and expansion.

Some accountants may advise startups against paying dividends until the company is more firmly established.

Startup Product Development Companies

Startup product development companies are businesses that help startups bring their products to market. These companies typically provide services such as product design, engineering, prototyping, and manufacturing.

They can also help with marketing and launching the product. Many startup product development companies work with a wide range of clients, from small businesses to large corporations.

Top 3 Low-Cost Web Design Agencies

Startup companies need to have a well-designed website. A good website can help you attract investors, customers, and partners. It can also make your company look more professional and credible. However, hiring a web design agency can be expensive, especially for small businesses.

Low-cost web design agencies that are perfect for startups:

  1. Fit Design: An award-winning and well-priced Webflow web design agency that crafts custom websites for startups and small businesses in the UK.
  2. Moirae: Yorkshire-based Digital Agency for SEO services & web design. Experts in B2B marketing on streamlining businesses in brand management and marketing communications.
  3. Yellow Muse: Milton Keynes web design agency that has provided web design and digital marketing solutions to businesses across the UK for many years now.

Conclusion

When it comes to finding the right advisors for your startup, it’s important to cast a wide net & explore all of your options. The accountants, lawyers, and other professionals who you work with will have a major impact on the success of your business.