Accounting & Bookkeeping Services
Businesses are often under intense cost and time constraints and find it difficult to take complete control over their finance processes.
As a business owner, your task is to manage and oversee all aspects of your business. However, this can be extremely challenging. Therefore, it is important to have a professional and qualified individual looking over your accounts.
Efficient bookkeeping services provide a clear picture of total earnings and help in making important business decisions that take the company forward. Having an in-house bookkeeping and accounting team can be expensive.
Our accounting services can save you time and money
Many business owners have weigh and realized the pros and cons of managing their accounts, and many of them ultimately decide to outsource. We are aware that as a business owner, you have many tasks to deal with on a daily basis.
By utilizing our accounting services, you will save yourself time and energy that you can devote to generate more income and driving more sales to your business.
Software that we use
We use Intuit Quickbooks online. The benefits of choosing a cloud based accounting software are:
Able to view your financial performance at anytime. We will also send you a hardcopy report at the end of every period.
Allows you to make budgeting in real-time. You can even view and make decisions on your mobile phone.
Save your money and time by reducing computer hardware downtime, and reducing software maintenance.
What you will get in return
We will provide you with monthly unaudited financial statements such as profit and loss, and balance sheet. You will also get accounting reports such as bank reconciliation, and various audit schedules. Best of all, our accounting services are priced reasonably and affordable to fit your business budget.
Unaudited financial statements
Statement of Financial Position
Statement of Comprehensive Income
Statement of Cash Flows
Statement of Changes in Equity
Day-to-day bookkeeping and accounting entries
Bank and other reconciliation reports
Debtors/Creditors aging schedule
Inventory listing and other listings
Fixed assets register
Storage of documents
Accounting & Bookkeeping Fees
1) What is the difference between Accounting Services and Bookkeeping Services?
Ans: For the accounting services, we provide you with unaudited financial statements and reports such as the Income Statement, the Balance Sheet, bank reconciliation report, and the various audit schedules.
Whereas for bookkeeping services, we will do data entry for all the documents that you provide us. What you will get are the sales and expenses listing according to SFRS 115.
2) What is SFRS 115?
Ans: Singapore Financial Reporting Standard 115 - Revenue from contract with customers. It is the set of rules for recognizing revenue.
3) Do I need to purchase separately accounting and bookkeeping services from you?
If you decide to go with Bookkeeping services from us, we will provide you with the compiled accounting records and audit schedules as well, so you do not need to engage the accounting services with us.
However, if you choose Accounting Services only, we will compile all sales and expenses listing done on your side, create reports and schedules for you for the purposes of a statutory audit.