Features of accounting services Singapore
Responsible professional outsource accounting services Singapore work in strict compliance with the country’s legislation.
To start cooperation with an accounting firm, it is necessary to:
- conclude a contract with it that clearly states the rights and obligations of the parties;
- hand over primary and secondary documentation for further work;
- a full inventory will also be required if the accounting department is restored;
- allow the contractor to adjust the company’s databases according to current, recordable business transactions;
- authorize the maintenance of the balance sheet, as well as the submission of reports to the fiscal authorities.
In addition, the client of outsource accounting can receive expert accounting advice. Such services are in high demand in Singapore today.
Accurate and efficient accounts
More and more organizations prefer outsource accounting due to the desire to save time and money. Outsourcing non-core business segments allows them to focus on more important business issues and goals. Control and accurate maintenance of accounts is the main thing that is assumed by the contractor entrusted with the client company’s accounting documents.
How accounting services are managed after the conclusion of a typical contract
Outsourcing accounting services begins with collecting documents and their correct entry into the electronic accounting system. The list of services includes:
- account and code management;
- recording movements in accounts;
- preparation and submission of periodic statements;
- calculating accounts payable and receivable;
- analyzing and displaying asset movements;
- accounting of profits and other key accounting characteristics.
All necessary documentation is prepared for the customer’s outsourced bookkeeping services, after which he can objectively assess its activities and make plans for the future.