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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

Is appointing a Singapore accounting firm essential? Being a small business owner is not easy when it comes to mastering their compliance. As the fact of the matter, they have to bear the brunt of the ever-changing laws and the constant tug of war between controlling costs and still trying to improve efficiency. The owners believe that since their business is small, they’ll be able to smoothly handle the accounting of their business on their own. While some of them can do it, but for the majority of them, hiring an accounting firm in...

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 your business that you have to manage effectively in order to maximise the ROI.   What is Account Receivable and Account Payable? Lets’ get to know these terms in detail: The account payables are the amounts your company owes after purchasing goods and services on credit from a vendor. On the other hand, accounts receivable are amounts your company has rights to get or collect as it has sold goods or services to the customers on credit. A sale of a company is a...

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 record keeping. It is also a valuable tool to measure its financial health and performance. It is therefore highly essential for you to execute company’s accounting-related tasks effectively.   Directors are Responsible for Updating Accounting Books ACRA, the agency that governs all companies in Singapore, holds company directors responsible for the filing of their accounts. It is a time consuming and resources intensive task. Many directors of small companies prefer to...

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

Why should you hire a provider of accounting services in Singapore for your small business? Accounting and bookkeeping are the two important languages of business community all over the world. You must learn these or hire an accountant in order to think, record, and communicate day-to-day financial facts of your business.   You Need Monthly Accounting Services Some business owners fail to understand the importance of regular updation of their books. They suffer in two ways. They fail to ensure the statutory compliance mandated by the...

read more Nov 21, 2013