Regardless of size, industry, and nature of operations, every company needs an accountant. Comparing different Singapore accounting services and bookkeeping can be a little tricky, especially for newly incorporated companies that are managed and handled by foreign investors and directors. Management of books and records for private limited companies requires experience and expertise, and in this post, we have enlisted a few things and ideas that may come handy.
- Know their expertise. The services offering by a Singapore accounting company may vary. While some are more competent in managing regular records and tax preparation, others have extended experience in matters of the IRAS. Before you hire an accountant, do check the areas of expertise and things that they specialize in.
- Find more about their experience. Singapore accounting services often deal with a plethora of clients, right from startups to multinationals and branch offices of offshore companies. As a new and prospective client, you have every right to know about their previous work. VentureHaven specialises in these Singapore accounting services, and we can offer client references on request. If you want to start company here, we will assist with everything, including accounting.
- Ask for a quote. Based on the types of accounting services you require, you can seek a quote, and most firms would be happy to share an estimate for free. The price must be inclusive of all costs, taxes and expenses.
Singapore Accounting Services you can expect
Accounting services can vary, and the first option is statutory bookkeeping, which is all about maintaining books and records in sync with the statutory regulations. The accounting firm will also submit the reports to IRAS and ACRA among other agencies. You may also seek assistance on management reporting, which meets the local standards of accounting. Accountants also help in preparing monthly, quarterly and yearly reports, which can be used for in-house decision making. One of the other services is related to the installation and implementation of accounting software, which is ideal for smaller businesses. If you are a small enterprise, accounting solutions can be customized and automated for your requirements.
Finally, do consider taking a couple of appointments with the concerned firm to know more about the local accounting norms and procedures. You can also choose to discuss some of your immediate concerns, which the company can address with its effective approach. For VentureHaven services, feel free to call us. We will be happy to arrange a consultation session!