We assist business owners to meet local regulatory requirements
Big or small companies in Singapore, they need someone to manage the payroll of the employees and the accounting function.
It is getting more costly to hire Accountants and Financial Controllers.
Big Four Accounting firms, international banks & finance companies and multi-national corporations pick the talented fresh accounting graduates and train them to be one of the best in their organisations.
However, for small companies, local SMEs or start-ups, it is almost impossible to attract talented accounting graduates or experienced accounting professionals to join them to manage the accounting functions.
What is the difference between bookkeeping and accounting?
They are pretty much similar to each other considering they both have something to do with numbers.
However, regarding business size, they differ.
Accounting refers to the process to keep and interpret financial reports.
On the other hand, bookkeeping is more about entering business transactions into the accounting system.
What makes it different from each other is how the profession starts with small then will gradually move to a higher and more complicated part of annual compilation services as the business improves as well.
What should a bookkeeper possess to be part of growing businesses in Singapore?
With how many number companies in Singapore increase, their need for accountants increase as well.
With the agencies that hire accountants to be designated to companies, it is now easy to find skilled professional accountants. Who said finding something good is hard?
Before a company becomes known in other parts of the world, they always start with being small.
Just like accounting profession, that accountant will start as a bookkeeper and later on become an accountant when the small business becomes big.
A bookkeeper is no different than an accountant. They must possess the same thing. The only difference that keeps them apart is where they are asked to start.
I am starting a business in Singapore. Should I hire an outsourced accounting firm?
If you are planning to start your own business, you would need to hire a bookkeeper to keep track of your company’s cash flows.
The outsourced team can also manage your monthly payroll processing and annual tax return submissions.
Should you need assistance or would like to find out more about annual compilation services in Singapore, please send an email to Contact@AccountingSolutionsSingapore.com, and our business advisor will contact you.