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8 Mistakes to Avoid When Filing Self-Employed Income

8 Mistakes to Avoid When Filing Self-Employed Income

Being self-employed has its own charm. The benefits are many, starting from being your own boss to flexible work timings, there are no limits to what self-employment can bring to the table. However, this independence comes at a cost. Self-employed people usually have to face more of record keeping and have to remain on top of the Singapore tax filing deadlines. They have to wear more number of hats; in simple words, they are their business. The only aspect that they need to remember is to avoid becoming ‘penny wise dollar poor’, when dealing...

read more Apr 8, 2014

4 Types of Professional Accounting Services for Your Small Business

4 Types of Professional Accounting Services for Your Small Business

Being a small business owner is not easy. As the fact of the matter, it is the small businesses that bear the brunt of the ever-changing laws, and the constant tug of war between controlling costs and still trying to improve efficiency.  They believe that since their business is small scale, they’ll be able to handle the accounting processes smoothly on their own. While some of them can do it, but for the others, hiring a Singapore accounting firm, to handle the accounting services Singapore, should be the preferred option. These accounting...

read more Feb 25, 2014

How to Differentiate Account Receivable and Account Payable of a Company

How to Differentiate Account Receivable and Account Payable of a Company

Account receivable and account payable are the two crucial aspects of a business, which have to be maintained in an effective manner in order to reap benefits of maximum ROI. While account payables are the amounts a company owes when it purchase goods and services on credit from a vendor, accounts receivable are amounts a company has right to get or collect as it has sold goods or services to a customer on credit. A sale of a company is a purchase for another company and thus, account payable of a company is account receivable for another...

read more Feb 7, 2014

Basic Functions Performed By an Accounting Firm

Basic Functions Performed By an Accounting Firm

Accounting forms the bedrock of a company’s financial health and it is therefore highly essential for businesses to execute the accounts related tasks effectively. However, many companies of late prefer to outsource their accounting requirements to corporate accounting firms due to the difficulties associated with hiring an in-house full-time professional accountant. Also, the possibility of errors arising out of the accounting practices performed by an in-house accountant would have grave consequences for the company. A Singapore accounting...

read more Dec 17, 2013

Accounting and Bookkeeping Services can be Beneficial for Your Business in Many Ways

Accounting and Bookkeeping Services can be Beneficial for Your Business in Many Ways

Accounting and bookkeeping are the two important languages of business without which no business is complete and able to cope with the daily activities of the accounting department. Having flair information on the financial position of a business is extremely vital for every company. It can be achieved only when an effective accounting system is set in place. Therefore, having an in-house accounting team is important for every business. The job of accountant and bookkeeper can be challenging and time-consuming as it involves a lot of...

read more Nov 21, 2013