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Accounting Services

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Accounting Services
  Compilation of Unaudited financial statements
  Bookkeeping (Monthly / Quarterly / Yearly)
  GST registration
  GST filing

What is bookkeeping ?

Bookkeeping is the process of recording your company's financial transactions into organized accounts on a daily basis. It can also refer to the different recording techniques businesses can use. Bookkeeping is an essential part of your accounting process for a few reasons. When you keep transaction records updated, you can generate accurate financial reports that help measure business performance. Detailed records will also be handy in the event of a tax audit.

Recording transactions begins with source documents like purchase and sales orders, bills, invoices, and cash register tapes. Once you gather these documents, you can record the transactions using journals, ledgers, and the trial balance. If you are a very small company, you may only need a cash register. The information can then be consolidated and turned into financial statements.

What is Financial Statements ?

The next step in bookkeeping is to generate financial statement. These statements are prepared by consolidating information from the entries you have recorded on a day-to-day basis. They provide insight into your company’s performance over time, revealing the areas you need to improve on. The three major financial reports that every business must know and understand are the cash flow statement, balance sheet, and income statement. It is one of the information required to provide when filing the Annual return to ACRA every year.

When to register for GST ?

A company will need to register for GST when their taxable turnover hit more than $1 million in the retrospective or prospective view.

A company can choose to voluntarily register GST. Find out more here.

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60 Paya Lebar Road #07-54 Paya Lebar Square Singapore 409051


+65 9270 0934

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