Accounting Outsourcing Services - An Integral Part Of Running A Business

By Author: Ritikapol
Total Articles: 10
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Complying with the statutory requirements with regard to keeping financial records in Singapore involves a number of activities starting with maintaining proper books to filing taxes at the right time. Accounting services in Singapore can help you to do this and more because of the vast experience they have had with the numerous companies that are incorporated in Singapore every day. Maintenance of ledgers, preparation of audited financial statements, filing director reports and audit reports, filing corporate tax and sales tax and preparation of payroll are some of the areas in which accounting firm Singapore can be of help.

Book Keeping and Financial Analysis

Book keeping is an integral part of running a business and has to be done on a regular basis. Accounting book keeping services that are offered by firms in Singapore provides qualified professionals who have in depth knowledge of the laws in Singapore. The Companies Act in Singapore allows even an 18 year old to start a company. And even if you are not an 18 year old, proper advice when it comes to financial matters is important to keep any company ...
... from running into losses. Accounting services outsourcing can help you with maintenance of general ledger, accounts receivable ledger, accounts payable ledger, fixed assets ledger, budgeting, managing cash flow and bank reconciliation, preparation of financial statements, financial analysis and management reporting

Goods and Service Tax and Corporate Tax

Computation of corporate tax, preparation of the director’s report, preparation of form C and other requisite forms are part of the annual tax filing procedure. Singapore Accounting Services can take care of all this if they are provided with the financial accounts for the year. The GST or goods and service tax in Singapore stands at 7% today. Knowing whether the products or services that your company provides qualifies for GST is the start to this long process. Then comes the registration with the Inland Revenue Authority of Singapore andonce this is done, the accounting firm Singapore will determine the optimum filing cycle bearing in mind the impact it will have on your business and customers.