Accounting Services in Singapore for Small Businesses

by Creative Ideas Business Consulting

Are you thinking of ways to save time and cost involved in maintaining your small business’ statutory compliance? Well, there is a straightforward way adopted by MNCs and big companies for doing so. Many of them outsource the task to the accounting services in Singapore.

The reason for using the outsourced accounting and bookkeeping services Singapore is simple. The task is a non-core one. It generates no revenue and profit for your business. Rather, it ties up your skilled human resources and from time-to-time, whenever they scramble to meet a deadline, introduces edginess in your work environment.

Hire Accounting and Bookkeeping Services Singapore

As per ACRA (Accounting and Corporate Regulatory Authority of Singapore), a company’s annual filing is the responsibility of its directors. The regular updating of its books of accounts is also binding for them. However, the prevalent view is that the task should go on without disturbing the focus of the company on its core goals.

Appointing one of the accounting services provider Singapore to take care of the business’ accounting needs works perfectly. The move takes the whole excitement associated with task out of your workplace and makes it a cool place to be in for tackling your core goals. Moreover, you do not have to invest in hiring a permanent in-house accountant, providing infrastructure, employee salary, benefits, etc.

Accounting Services Singapore

The outsourced accounting services Singapore allows you to reassign and optimize resources of your small business. It especially liberates business owners that have to multitask to provide their products or services to keep the cash register ringing. The move assures you that your books are in the expert hands and that it will enable you in the filing of the accurate financial statement within the deadline. You can expect following services from the accounting firm:

• Singapore Accounting Software Assistance

• Monthly or quarterly bookkeeping services

• Monthly accounting or quarterly accounting

• Singapore Professional Accounting Service

• Recording Full Set of Account Transactions

• Preparation of Cash Flow Statements

• Singapore Group Consolidation

• Singapore Bank and Other Accounts Reconciliation

• Accounts Payable (AP)

• Financial Statements Preparation

• Directors Report /Compilation Report Preparation

• Compilation of Accounts

• GST Registration

• Quarterly GST Return Filing

• XBRL Statement Preparation

Cost-Effective Outsourced Accounting Services Singapore

You may think of doing your accounts yourself. You may even shoulder the responsibility successfully. However, it is not the same for the majority of small business owners. The task needs knowledge of principles of accounting and prevalent rules and regulations.

The top accounting and bookkeeping services in Singapore have Certified Public Accountants (CPAs) in their employ. They are aware of current market trends and latest changes in the rules and regulations. Moreover, they also have industry-wide information about the events. These professionals work carefully to ensure your compliance.

The accounting services go through the business’ financial transactions and update the books. They also prepare a monthly report for your consumption. Moreover, their advice is more useful in understanding the monthly profit and loss accounts, the cash flow, and balance sheet status. For the annual filing, they close the accounts and prepare various financial statements.

The outsourced accounting services in Singapore strictly do the task as per the Singapore Financial Reporting Standards. Their services are affordable, and they have various packages for you. You can choose to pay them as per the volume of financial transactions processed or as per monthly flat rate.

There is yet another reason to update your small business’ accounts. The accounting data in an expert’s hands can reveal the true state of financial health of your business. It can be used to streamline your cash flow and discipline your business expenses to increase its profitability and survivability.

Contact us:
SBS Consulting Pte Ltd
High Street Center,
#17-02, 1 North Bridge Road,
179094 - Singapore
Phone: +65-6536 0036
Email: info@sbsgroup.com.sg

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Created on Mar 7th 2018 23:44. Viewed 1,145 times.

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