Archives for Certified Bookeepers

Setting up an auto-enrolment pension

Setting up an auto-enrolment pension

If you are an employer, then you are required by law to provide a workplace pension scheme for all your eligible staff. If you became an employer after the 1st of October 2017 then you must automatically enrol staff into a scheme, whereas if you were an existing employer at this time then you should have been notified of the applicable start date (known as the staging date) for your business.

Setting up a pension scheme can be a daunting task if you have never had to do it before. Pensions can be a complex area to navigate if you have no experience and it can be particularly tricky for a small business given all the other requirements on you as an employer, not to mention the actual day-to-day running of your business. It can be beneficial to get a specialist involved in managing it all for you so you can focus on everything else you need to do.

A few things you need to know about auto-enrolment:

You must determine what is included in employees’ earnings

There are three types of earnings that are classed as pensionable salary and you need to decide which definition you will use. They include:

  • Total pay: this includes salary, bonuses, overtime pay, and any benefits (such as health insurance)
  • Basic pay: this covers the base salary only, excluding bonuses and benefits
  • Qualifying earnings: this calculates the pensionable salary based on the top and bottom limits of National Insurance

You must select a pension provider

There is a large number of pension providers on the market offering a range of options and services to clients. As well as understanding the basics of what is involved in setting up a pension scheme you also need to be able to understand what each pension provider offers and what their charges are before deciding which one is right for you. With the new rules coming into force pension providers will become quite busy and some may even reach capacity and be unable to take on new business.

Communicate the changes to your staff

Once you have determined what constitutes earnings and which pension provider you are going to go for you need to let you staff know what changes are being introduced and how they will be affected. Although you are only legally required to send out a single communication to staff, the reality is that you will be faced with questions and uncertainty so it is worth considering an engagement strategy. This could include a variety of channels as well as follow-ups to ensure that all affected staff have been informed and understand what it means for them.

Do you need help?

Consider early on whether this is something you want to manage yourself, or if you want to get help from a specialist. An expert working in this field will be up to speed on all the details and requirements that will affect you and be able to advise on the right providers who can meet those needs. They can also help you communicate changes to your staff and answer any questions they may have, allowing you to focus on running the business.

For advice and guidance on auto-enrolment or for details on how we can assist, just ask our team at Cain and Beer by calling us on 020 3633 1340 or emailing us at .

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Software Training

Software Training

When you start out in business there’s a lot to consider and think about including how you are going to keep your books. Do you hire a professional bookkeeper? or do you try to do your own bookkeeping?

We would always advise that you take on a certified bookkeeper and turn your attentions to running and growing your business but understand that this is an extra cost you could do without when starting up.

If you do decide to your own bookkeeping; what software will you choose; should it be on your iMac, laptop or desktop computer and should it be internet based; how much will it cost, the list goes on. All key things to think about when deciding which accounting software is best for your business. Then when you have made your choice; how do use the software, what information does it give you

If you would like help choosing an accounting software package that is right for your business or you need training and on-going support, then we would love to hear from you. Full details of all our training and support packages are on our website but if you would like to talk to us about your requirements please call us on 020 3633 1340 or email us

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Five Reasons to Choose a Certified Bookkeeper

Keeping on top of your bookkeeping is essential when running a business and knowing where you stand financially is key to your ongoing success. When considering whether to hire a certified bookkeeper or not the following 5 reasons may make your decision easier: –

  • Saving Time 
    1. Running a business is time consuming and it can be quite hard fitting in everything that needs to be done including the bookkeeping. When business owners do their own bookkeeping it is probably left to the last minute, done late at night or at the weekend. The bookkeeping is also probably not up to a standard that an accountant can easily work with. Hiring a certified bookkeeper should ensure that the books are kept up to date and give the business owner time back.
  • Saving Money 
    1. If a business owner lets their bookkeeping pile up and left to the last minute, they could incur late filing penalties. A certified bookkeeper can help a business owner stay up to date which in the long term could save them money. Systemised and accurate bookkeeping could also save money in accountant’s bills at the end of the year.
    2. Helping with Financial Management
    3. A qualified bookkeeper should support a business owner throughout the year by not only keeping accurate records but also providing decent management reports. Management reports are a valuable tool for a business owner to stay in touch with their cash flow, identify areas where overheads could be reduced and make informed financial decisions.
  • Organised Records 
  1. A qualified bookkeeper should organise the piles of paperwork into a structured and organised system. A business should always have a decent filing system with its sales and supplier invoices filed away in chronological and alphabetical order. The bank statements, month end reports and other business records including VAT, staff and payroll records should also be filed efficiently.
  2. Processing Expenses Claims
  3. If you need help with your bookkeeping, accounting staff training or just want some professional financial business advice then Cain & Beer would be delighted to hear from you.
  4. Not only is it a legal requirement for a business to keep accurate records but quite often it can be the difference between trading or going out of business.
  5. Quite often company owners and Directors will use their own cash or personal debit and credit cards to pay for business expenses. In a lot of instances these expenses get forgotten and don’t get claimed back through the business. A qualified bookkeeper will make sure that this doesn’t happen and will set up procedures to ensure that all claimable expenses are accounted for.

Not only is it a legal requirement for a business to keep accurate records but quite often it can be the difference between trading or going out of business.

If you need help with your bookkeeping, accounting staff training of just want some professional financial business advice then Cain & Beer would be delighted to hear from you.

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