Skip to main content Skip to search

Posts by Marketing

EU VAT CHANGES FOR 2015

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for the optional and temporary application of the reverse charge mechanism in relation to supplies of certain goods and services. Quick Reaction mechanism provides the legal basis to the countries that are members of the EU to integrate an emergency measure in they are in position to serious case of sudden and massive VAT fraud.

Read more

USES OF FINANCIAL REPORTS

Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make important business decisions affecting its continued operations. Financial analysis is then performed on these statements, providing management with a more detailed understanding of the figures.

Read more

FUNDAMENTAL ACCOUNTING

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Read more

SAVE ON TAXES

Value Added Tax (VAT) is a tax on consumption levied in the United Kingdom by the National Government. It was introduced in 1973 and is the third largest source of government revenue after Income Tax and National Insurance. It is administered and collected by HM revenue and customs, primarily through the Value Added Tax Act 1994. VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the European Union.

Read more

ACCOUNTING 1 ON 1

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Read more

PROPER INVOICE INFO

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the objectives of financial reporting. The objectives of financial reporting, as discussed in the Financial Accounting standards Board (FASB) Statement of Financial Accounting Concepts No. 1, are to provide information that

Read more

Registered Address services / Virtual Office Address Services

Registered Address services / Virtual Office Address Services

Our Registered Address services / Virtual Office Address Services cater for the convenient of registration of business or company, can be also used as a confidential address for personal mails as well as mailing address on corporate stationery like namecards, letterheads. Our Registered Address services / Virtual Office Address Services will not only save cost on office rental, staff but also provide your business a professional team that are dedicated to your business.

We provide a prestigious address for registered office which is located in the heart of Singapore Business District (CBD) area.
Virtual Office Address / Registered Address Services includes:
• No Setup Fees for Settiing up Virtual Office Address / Registered Address Services Account
• Instant Approval for Virtual Office Address / Registered Address Services Signup
• Secure Online Payment for Visa, Master, Paypal, AMEX (Through Paypal)
• Self-Collection of Mails and Parcels between Mon – Fri: (9am to 7pm)
• Address as Accounting and Corporate Regulatory Authority (ACRA) Registered Address
• Address as Mailing Address
• Receiving of Normal Mails, Air Mails, Parcels or Registered Mails
• Mail Forwarding Services Available Upon Request
• S$4.80*/Month (24 Months Signup + 3 Months Free) [S$115 for 27 Months Service]
• *Limited period only!

For more information on our Virtual Office Address / Registered Address Services, please contact us or call us at 6221 2789

Read more

Business

Business Registration in Singapore

We can assist you to register a Business registration with the Accounting and Corporate Regulatory Authority (ACRA) as according to the Business Registration Act (Cap. 32).

A business firm is a much simple form of setting up a business, as it required low setup cost, has low maintenance fee, It can be either a sole proprietorship or a partnership. Registration is normally done within 30 minutes.

And if you have already registered a Business for sole proprietorship / partnership with ACRA and now wish to convert it to a Private Limited company. We can also assist you to do a conversion.

Sole Proprietor (self-employed)

A Business firm owned by one company or an individual who is Singapore Citizen or Permanent
  Resident running a business on his/her own behalf
All the profits generated by the business will belong to the sole-proprietor
Pay Personal income tax on the profits generated by the business
Required to contribute to CPF Medisave (Individual rate between 6-8%)
The sole proprietor has absolute say in the running of the business firm

Partnership
– Consists of more than one person
– May have between two and twenty partners
– All partners have equal rights in the management of the partnership
– Unlimited liability
– Foreigner only can register if there is a Singapore local resident manager
– Pay Personal income tax on the profits generated by the business
– Required to contribute to CPF Medisave (Individual rate between 6-8%)

Limited Liability Partnership

– Has the flexibility of a partnership, with the benefit of limited liability
– Minimum of 2 members
– Each member’s personal income is derived from profits and are taxed at personal income tax rates
– Compulsory to appoint a local manager

Striking Off / Closing Down Of Company
A company may apply to Accounting and Corporate Regulatory Authority (ACRA) to strike its name off the Register pursuant to Section 344 of the Companies Act.
ACRA may approve the application if it has reasonable cause to believe that the company is not carrying on business and the company is able to satisfy the criteria for striking off e.g.:- the company must not have any assets and liabilities, no outstanding penalties with any government authorities and etc.
We are professional trained and have many years of experience in handling the striking off of companies, all our clients are assure of a smooth closing down of their company.

Our Service includes:

We can assist in striking off or closing down an inactive company with the Accounting and
  Corporate Regulatory Authority (ACRA)
Assist your company on the tax clearance with the Tax Department, Inland Revenue Authority of
  Singapore (IRAS)
Read more

Accounting

 

1. Flexible accounting service for Yearly / Quarterly / Monthly period, with a fee from $50 onwards.
There are absolutely No Hidden Costs!
2. Provide accounting services to Company that required Outsourcing of accounting services, to cut cost in
employing full-time account staff
3. Provide Accounting Report:
Income StatementBalance Sheet
General Ledger
Trial Balance
Debtors Ageing Report
Creditors Ageing Report
Bank and other Reconciliation
Audit Schedule
Payroll
GST
We prepare the accounts according to the Singapore Accounting
Standards and Companies Act
Provide consultancy and advice on your business performance, whereby you
can get an independent opinion on the performance of your business operation
We can advise you on how to keep your documents so that your documents
will be neat and tidy.
Provide timely reminder on the relevant deadlines and financial report matters
4. Preparation of Unaudited Financial Report
5. Review and computation of tax and deferred tax provisions for inclusion of the financial statements
6. Goods and Services Tax (GST) Preparation and Registration
Goods and Services Tax (GST) is a broad-based consumption tax levied on import of goods, as well as nearly all supplies of goods and services.
Required by ACRA, a Singapore registered company with an annual turnover of S$1million is liable to register for GST.
Our service includes consultation and submission of your corporate profile for GST application.
7. Tax Planning – Corporate & Personal Income Tax computation (IRAS)
8.  Filling up and submission of Form C / Form B / Form P (IRAS)

Companies in Singapore are business entities that are registered under the Companies Act, Chapter 50. Under this act, your company has its own properties, can be sued and is entitled to perpetual succession. Business rules in Singapore can be somewhat confusing, but if you hire the services of an accounting service, you will be assured of staying in compliance with the laws and regulations.

Business owners, especially small business owners and entrepreneurs, have quite a few jobs to perform. Retaining the skills of accounting services Singapore can help ease the load and give you more time to focus on core business techniques. Hiring an accounting firm is less expensive than hiring many employees to do different jobs.

Some of the services provided by an accounting firm include:
Accounting services we offer, well, accounting. High-level accounting is available in accounting service firms. The services of an accountant include creating budgets, finalizing financial statements and preparing tax returns for state, local and federal entities. Accounting services offer audit and business valuation services plus they can monitor the depreciation of assets and help you determine cash flow strategies. You can also use accounting service in Singapore to help with fraud issues or set-up computer accounting systems.

Additional services offered by accounting services in Singapore include entrepreneurship and management. Accounting services can reduce risk and waste plus help you increase innovation and learning. Your clients will be presented with an entirely new way of working with your business. This will help increase trust and customer loyalty. Customers will know you now have the professionalism behind you accounting methods.

If you are in need of secretarial and accounting services Singapore, hire a company that follows the law of Singapore. The Singapore Companies Act instructs that all Singapore incorporated companies appoint a secretary for the company. Good secretaries can help you maintain minute books, prepare minutes and take minutes at annual general meetings, help with annual returns and update development in compliance regulations.

If you need a service to help your firm go public and meet the necessary requirements, you need to hire an accounting service. You can hire this type of service on a long-term or short-term basis. Use them when reports and financial issues are very heavy or on a continual basis. They are here to help you succeed.

 

Read more

Bookkeeping Services

 

Our Bookkeeping Services

  1. Ensure timely and accurate financial statements and tax compliance.
  2. See that you  have a handle on your cash flow.
  3. Provide expert assistance for all of your accounting, tax and other professional needs.
  4. Maintain your data in a secure manner for easy access whenever you need information.
  5. Setting Up proper Accounting Systems.
  6. Setting up your company chart of accounts using our computerized bookkeeping systems.
  7. Data entries all transactions into your company accounts.

What You Get:

  1. General Ledger listing all transactions during the past month.
  2. Journal Entry and Check Register listing sales, cash receipts and check disbursements.
  3. Payroll Register listing monthly payments made to all employees and vendors.
  4. Profit & Loss Statement so you can see where your business stands on a monthly basis.
  5. Balance Sheet to provide lenders and enable advisors to determine critical ratios.
  6. Bank Reconciliation so you know your correct cash and bank balance every month.

Complete set of financial report :

  1. Profit and Loss accounts
  2. Balance Sheet
  3. Trial Balance
  4. General Ledger
  5. Bank reconciliation
  6. Accounts Receivable / Trade debtors listing
  7. Accounts Payable / Trade payable listing
  8. Fixed Assets Register

Bookkeepers or the “ones who keep the books” are charged with the task of keep full, accurate and current business records.  Good bookkeeping systems will effectively manage cash flow and help a company develop future business plans based on financial trends.  The government requires that your company keep accurate financial records and file reports on a monthly, quarterly, and yearly basis. You can do this with a professional bookkeeper.

A company needs to keep accurate records of their business finances in order to determine the amount of tax they must pay. Bookkeepers, at times, will prepare those tax returns. Business owners are required by law to present accurate records for a tax agency’s inspection. Failure to do so could lead to penalties, fines, and possibly imprisonment.

Hiring a professional in-company bookkeeper can be expensive. There are computer programs designed to make the task of bookkeeping manageable, but these programs require that you learn the bookkeeping system, and use the software on a daily basis. It is better to hire bookkeeping services in Singapore to ensure that all books are kept correctly and within the laws. Your bookkeeping service will free up your time for important tasks like selling and communicating with customers.

Excellent bookkeeping systems and bookkeepers are those that minimize paperwork, file reports and returns on time and do it in a cheerful and competent manner. You can rest assured, with professional bookkeeping services in Singapore; professional bookkeepers will take the tedious work of bookkeeping on their own shoulder. They will keep records to manage sales, track purchases, and maintain employee records, inventory, and financial ledgers. There are legal pluses for your company when you hire a bookkeeping service in Singapore.

Services provided by bookkeeping systems include preparation of profit and loss statements and balance sheets. General account filing, bank reconciliations, cash flow statements, Singapore Financial Reporting Standards (SFRS) service, and preparation of financial reports are a big parts of a bookkeeper’s duties. Your excellent bookkeeper or bookkeeping services in Singapore will be the right hand to your company accountant. In fact, without a competent bookkeeper, your accountant might struggle to get all the reports and filing finished in a timely manner.

Using bookkeeping systems developed by bookkeeping services in Singapore, you will be able to plan strategies to grow your business. Competent bookkeepers will work for you as if they were employees of the company rather than a contract employee. An account managers or bookkeepers from a bookkeeping services will work for you and on a one-on-one basis. They will quickly learn to understand your account needs and provide timely and professional service. You cannot do your business without a top notch bookkeeping service.

Use the best bookkeeping services in Singapore who have a reputation built on competence and who are expert in proactive client service. You do not need a bookkeeper who sits around waiting for instructions, but one who will dive right into your company’s books and keep them in accurate condition. Testimonials from satisfied customers often say, “We are impressed by their professionalism. We highly recommend them.”

Read more