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The service providers will prepare the detailed receivables statement which will help the companies to collect money on time. This will ensure proper cash flow for the company. Other reports that are prepared by the service providers include the balance sheet, trial balance, and profit & loss accounts.
It is always better for small size and medium size companies to avail services from service providers than appoint people themselves for many of the functions in the office. They don't have to pay salary and perks to a person and they get expert services at affordable prices. These services will help companies remain compliant with local laws. Moreover, companies need not divert their attention from their core business areas to complete these tasks.
Bookkeeping Services Help Maintain Records Perfectly
All businesses are about earning money and spending them. So, it is essential that a proper record of all these transactions is maintained for knowing how money is being handled in the company. It is also necessary as per Singapore laws to maintain this record and submit to the ACRA when asked.
The service providers will prepare the detailed receivables statement which will help the companies to collect money on time. This will ensure proper cash flow for the company. Other reports that are prepared by the service providers include the balance sheet, trial balance, and profit & loss accounts. The maintenance of proper records also helps in settling any disputes that may arise with the company's clients or suppliers.
Proper Accounting Helps in Being Compliant
Companies must maintain proper accounts and submit their financial statement by the end of every year. Accounting is a process that helps the company’s owners to get an insight into how the company is performing financially. Moreover, the accounting services providers also prepare the financial reports in the format mandated by the ACRA. The accounting services for small business in Singapore takes the responsibility of filing their annual statements from the hands of the company accountants.
Incorporating Companies in Singapore Easily
Apart from providing bookkeeping and accounting services, the consultants also help in setting up companies in Singapore. Due to the favorable business environment in Singapore, many foreign companies like to start their operations in Singapore. The corporate consultants provide excellent company incorporation services in Singapore which helps these foreign companies to go through the process easily and quickly.
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