- Why do Companies Need Accounting Services in Singapore?
Accounting is a crucial aspect of every functioning SME organization. No company can function or provide its services without well-kept accountants, since accounting is a legal requirement for all businesses based in Singapore. Accounting, reviewing, tax preparation services, bookkeeping, and consulting are just a few of the many Singapore accounting services provided by almost every accounting company in Singapore.
Businesses in Singapore need accounting services for various reasons. These reasons include:
- Keeping up with tax regulations
To file tax returns compliant with tax regulations in Singapore, companies of all sizes need the assistance of professional and experienced accounting services in Singapore.
- Analyzing the Finances
Financial analysis is crucial to the health of any business. Accounting is critical to the success of any company strategy. As professional accounting services for small business Singapore, PikoHANA plans to provide exemptional financial insights into your accounts to strategize accordingly.
- Design an Effective company structure
The field of accounting entails much more than simple money management. It goes much beyond that. Insights into your account from PikoHANA can help you choose if a corporation, partnership, or limited liability company is the right legal framework for your business.
- Use the right bookkeeping software
The use of accounting software to keep financial records will prove to be a need for every business in Singapore. If you don’t have an expert accounting company in Singapore looking out for you, you can wind up with fraudulent software that causes accuracy and legality problems.
- Manage expenses
Keeping tabs on your company’s financial transactions necessitates accounting services in Singapore. You’ll need to spend money and generate cash for the growth of your business. It’s easy to become confused about what happened during certain transactions if you don’t keep accurate records.
- What you need to know about accounting in Singapore?
Singapore’s financial reporting guidelines, known as the Singapore Financial Reporting Standards (SFRS), are modeled after the International Financial Reporting Standards (IFRS). One of the foundations of Singaporean accounting rules is the use of an accrual basis for financial reporting, which is used in the production of financial statements.
All outcomes of transactions and other activities are documented in the financial statements and reflected in the accounting statements during the application, as soon as possible after they occur. In all, there are around 41 separate standards that make up Singapore’s canon of accounting practices.
Small and medium-sized enterprises (SMEs) are the backbone of Singapore’s business community, as they are in many other nations. Accounting rules are growing more sophisticated to keep up with an increasingly dynamic and demanding global economy. This makes it harder for small firms to be certain that they are following the rules. Small and medium-sized enterprises (SMEs) sometimes struggle to comply with the complete SFRS since doing so would be too costly. This makes the need to outsource accounting services Singapore a convenient and cost-effective solution.
- Accounting Services in Singapore offered by PikoHANA?
If your SME is an organization with 200 employees or less and in the need of accurate Singapore accounting services, PikoHANA is the dependable fractional finance partner you are looking for. Starting at only 249 SGD a month, you can select from one of three plans designed with your requirements and budget in mind.
- Basic: Includes accounting needs for as little as 20 monthly transactions, making it a great value for small businesses. The plan provides for a specialized account manager backed by cutting-edge technology to assist with completing yearly company tax returns and a quarterly financial data review.
- Growth: Rapidly expanding businesses with 50 monthly transactions or less should consider this plan. In addition to the benefits of the basic subscription, this bundle offers monthly assessments and exclusive access for two persons to real-time business intelligence data.
- Enterprise: This package is ideal for large, established companies that process more than 50 transactions each month. PikoHANA provides real-time access to business intelligence data for three users and unique CFO advising, in addition to the capabilities included in the Growth Plan.
PikoHANA experts provide 14 different accounting services in Singapore:
- Quarterly GST Returns
- Corporate Secretarial Services
- Payment Processing
- Customer Invoicing
- Payroll & Employee Expense Reporting
- Nominee Director Services
- ECI Tax Preparation
- Registered Address
- Software Fees
- Incorporation & Bank Account Opening
- Preparation of Audited FRS Report
- Management Of Statutory Financial Audit
- Due Diligence Support & Advisory Services
- Historical Cleanup
- Benefits of outsourcing accounting services Singapore
Outsource accounting services in Singapore with PikoHANA to relieve yourself of a load of bookkeeping and focus on your business growth. We provide you with a variety of additional advantages, including the following:
- You can pay attention to company expansion and revenue growth rather than accounting and other unimportant costs.
- We free the time and effort required for hiring accounting staff and conducting background checks.
- We will save you money by charging a small portion of what you would spend on internal accounting services.
- We keep your financial records organized and compliant with the current accounting standards and regulatory directives so you don’t pay fines and penalties.
- Partnering with an experienced accounting company in Singapore can help you to protect your financial information and reduce the likelihood of theft.
- Switching to PikoHANA’s Accounting Services in Singapore
Find a reliable and all-inclusive service provider to outsource your accounting requirements with PikoHANA. We function without regular intervention from your end, allowing you more time to concentrate on running your company. With PikoHANA’s comprehensive solutions, which make use of cutting-edge cloud technology, businesses of any size can make the transition to paperless accounting. With over 20 years of experience in our pocket, we lead the Singapore accounting services to give you affordable and convenient solutions to your accounting needs.
- How we can help with outsourced accounting services?
If your business is in a pivotal period of growth, you will find that outsourcing your accounting responsibilities to a dependable accounting firm in Singapore is the best course of action. It’s easy, helps you save money and time, and gives you access to people with the skills to handle the job. With PikoHANA, you can be certain that the highest quality work will be completed following all applicable laws and regulations. PikoHANA provides an interactive platform with instantaneous access to all of your financial information, empowering you to make critical decisions to structure your future growth.
- Why Choose PikoHANA as Your Accounting Firm in Singapore?
We recommend you hire PikoHANA’s fractional finance team to help you maximize your profits and minimize your tax liability. PikoHANA is a leading accounting services provider Singapore. The professionals at PikoHANA have extensive experience serving a diverse set of industries in many different countries.
We provide cost-effective modules and related services that can help your business grow with convenience and flexibility. With our adaptable contract terms, you can outsource certain accounting tasks while keeping others in-house to best suit the needs of your business. Be assured that your confidentiality and security are never at risk at PikoHANA. We include the top data security measures in your plans.
Contact us immediately or set up a meeting with us and we’ll get back to you right away.