A good accountant is much more than someone who just balances your books. To help you make that all-important choice, we offer you this infographic guide for choosing a good accountant in Singapore who will help you achieve your business goals.
Have you submitted your financial documents to IRAS yet?
Setting up a business is a lot like building a house: you want to build it on a solid foundation (rock, as opposed to sand), and you want to use sturdy materials (brick, and not straw). When you set up your business the right way, you sidestep shaky ground and shady shortcuts—in short, you set up your business for long-term success and smooth sailing Year of Assessment after Year of Assessment.
When you’ve gotten used to doing something a certain way, learning a whole new way of doing things can be rather difficult—especially when you’ve been doing it for a very long time. But when that new way proves to make things better, and easier, in the long run, learning to make that switch might very well prove to be worth the effort.
Taxes aren’t called a “burden” for nothing. Yet, there is some comfort in the knowledge that this undeniably apt appellation, often uttered as a plaintive cry for help by business owners, doesn’t fall on deaf ears. There is tax relief in Singapore to be had that can help lighten this burden, which a trusty accounting firm will be able to help you with as tax filing time rolls round.
Let’s set the record straight: while they may seem similar at the outset, accounting and bookkeeping services in Singapore are actually two different things. As a business owner, knowing the difference between them can help you understand the key role played by each in growing your enterprise.
Did you know that the Inland Revenue Authority of Singapore (IRAS) has 44 software owners and their products listed on their register? IRAS has this list to help you make sure that the software you use is able to meet their technical requirements—after all, better safe than sorry, right?
Prison and fines—probably the two best reasons or motivations anybody needs for taking the time to choose, and choose carefully, a good accountant.
It’s always exciting to start a business from scratch, more so if it’s your very first. It’s fun to dream about making it big or having several outlet stores with your name on them, but the first step towards becoming the next Jack Ma is to set your business up correctly.
The sky is blue, birds fly, and every business needs a bank. As obvious as the fact that it’s an ACRA mandate for you to have a bank account, what may not be as obvious is which bank to choose.