Real Life Benefits of Appointing Accounting Services Singapore
Accounting is a time-consuming task. It has the potential to distract the management of a company from their prime goal of generating revenue for the survival. Outsourcing it to the accounting services Singapore relieves the stress of the task and worry over the error-free compliance.
Singapore Companies Act mandates that every company under its jurisdiction must maintain updated books of accounts. In addition, they have to maintain these records for at least five years. A startup or a small business in Singapore having a small crew may find it an enormous obligation. The accounting services offer them the relief through their impeccable monthly or quarterly bookkeeping services.
The accounting firms in Singapore, irrespective of the size of their clients, can take care of their low, medium and high volume of financial transactions. The certified accountants in these firms suit their services to the clients’ monthly accounting or quarterly accounting schedules.
The filing of financial statements is the responsibility of the directors of a company. The corporate accounting services offer to assist them with the preparation of compilation Report/ Director’s Report and unaudited financial statements. They also offer to assess the need for GST registration and afterward, look after their quarterly GST return filing.
Letting the qualified accounting companies in Singapore to assist you with your compliance responsibilities is indeed a wise decision. Outsourcing your accounting function enables you to;
- Give undivided attention to the core goals of your business
- It is a cost-effective option as you get the services of expert accountants, but, do not have to hire them
- You do not need to worry about hiring, training, or firing of in-house accounting staff
- Hiring one of the professional accounting services is not a cheap option, but, doing so gets you uninterrupted services
Appointing accounting services Singapore helps you in increasing the focus on your core business. It allows you to make full use of your human resource for it. It ultimately increases the efficiency and productivity of your organization and its ability to respond to the competition in the market.