Get the Best Benefits Out Of Maintaining Your Accounts Properly

It is not easy for small and medium companies to maintain the accounts properly. Nor are they able to get the benefits out of proper maintenance of accounts. There are many reasons why these companies fail in their effort to maintain accounts. The main reason is their inability to appoint competent accountants. Only a trained and experienced accountant can generate the data out of the figures that will help in running the company better.

Maintaining the accounts are not just for the sake of compliance. They are very useful for running the company. Regular updating of the accounts can give the correct feedback to the owners about the position of the company. It will help them plan their future expansions. When they know how the company is performing financially, they can plan to invest more for developing the company. This is possible only if the correct data is generated from the accounts.

These Firms Can Help Maintain Your Accounts Properly

When you cannot maintain your accounts by yourself it is wise to hand over the job to accounting firms in Singapore who have highly qualified people with them. They will maintain your accounts in the way it should be. You will be completely compliant with the requirements of the ACRA. You can submit your accounts any time it is demanded. These firms will maintain up-to-date accounts and you can use the data for all your financial planning.

These firms do the service at a very affordable price. This is possible because they do the service for many companies in Singapore. This means that the salaries of their highly-qualified employees are divided between different clients. This makes it easy for them to offer services at a cheap rate. Being highly qualified and experienced they are able to complete the job at a much faster pace than your employees. They are also very meticulous in their jobs that they don’t miss any transaction.

How Can You Use the Services of the Outsourcing Firms

The best thing about these firms are that they maintain the accounts on a daily basis. This means that you can have a look at your up-to-date accounts at any time. They prepare various reports as part of the job. One of these is the receivables report. This is very useful for you to follow-up with your customers for payment which is due. You will get your money faster. This will make your operations smoother.

They also prepare the financial statement for submission to the ACRA. These firms can prepare the statements in the XBRL format which is made compulsory now. They have the experts who can make the reports in this language. These firms offering accounting services in Singapore is proving to be very helpful for the business community.

Appointing a Company Secretary for Your Company

Every company that is incorporated in Singapore must appoint a company secretary. This must be done within six months of the incorporation of the company. The post of the company secretary is one of great responsibility. The company secretary is responsible for guiding the directors to operate the company under the Singapore company laws. He must educate the directors about the laws. The company secretary must be well-versed with the local laws.

Corporate secretarial services in Singapore is offered by many consultants. Apart from offering people to act as your company secretary they also provide many other services. They will help in the incorporation and registration of the company. They also provide a nominee director if your company needs that. Many foreign companies are unable to find a person as the local director. These consultants help you get a person as the nominee director.

They will help the company in the allotment and transfer of shares. They assist in holding the first board meeting and shareholder meeting. They will also record the proceedings of the meeting. The company secretary offered by the consultants will also keep the records and seals of the company. They make Singapore business incorporation an easy process.