The key benefits of outsourcing your accounting functions to an accounting bookkeeping service in Singapore include:
Increased Profitability and Reduced Costs
By saving on an in-house accountant, you can channel more of your limited resources into your core business and focus on producing better products and services for your customers to increase your business profit. Plainly put, your company’s accounting needs may only run up to $300/mth so there’s no point retaining a full-time accountant at 10 times that cost. Also, you can adjust the scale of your outsourced accounting functions without having to deal with employment and human resource hassles.
Improved Productivity with Expert Advice
Your company’s books, accounts and compliance matters are in the safe hands of a team of experts — not just one in-house individual — that is familiar with the latest in new accounting laws, policies, procedures and technologies.
Businesses registered and operating in Singapore are bound by law and ethical obligation to accurately present their returns annually. Reporting errors can result in costly penalties and bad track record with the authorities. Therefore, it is one’s best bet to outsource such important financial matters to professionals who do it for a living everyday. Also, it has been reported that small businesses are often susceptible to various types of in-house fraud. This can easily be prevented if professional accounting service providers with tried and intact systems, procedures, protocols and practices are outsourced for the job.