P R O F E S S I O N A L
A C C O U N T I N G S E R V I C E S
Together with our associates, we provide the following:
Compilation of financial reports
Companies are still required to prepare unaudited financial reports in a format defined by the Companies Act and the Singapore Financial Reporting Standards before holding the Company’s Annual General Meeting. Accordingly, it is essential for the Company to prepare the financial reports to ensure compliance with a statutory requirement.
We can assist management in the preparation of the compilation financial reports.
Book keeping and financial reporting
All companies incorporated in Singapore must keep proper accounting records to evidence the business transactions that took place during the course of operations. This is stipulated in the Companies Act. Such accounting records must be kept for a period of 5 years after the completion of the transactions.
We can assist management in the following accounting and book keeping functions:
- Setting up the accounting system and its processes to facilitate the month end closing;
- Preparation the trial balance, profit or loss statement and balance sheet;
- Preparation of the audit schedules;
- Bank reconciliation;
- Liaise with auditors and address audit queries;
We can assist management in the following payroll administration services:
- Maintain payroll records
- Compute monthly salaries, overtime, CPF and other deductions
- Arrange for payment of monthly CPF and other contributions to the relevant authority;
- Prepare monthly payslips to employees and payroll summary report;
- Assist to prepare statutory declarations and personal income tax forms for submission to the relevant authorities i.e. Form IR8A, Form IR21
Goods and Services Tax (“GST”)
GST is a consumption tax that is levied on the supply of goods and services in Singapore and the import of goods into Singapore. GST is applied to the selling price of goods and services provided by GST registered business entities in Singapore. As a GST registered entity, it is required to submit a return to the tax authorised based on the accounting cycle, generally on a quarterly basis.
We can assist management to prepare the quarterly GST return for submission to the tax authorities.