Accounting is a function that requires specially qualified persons to do the job correctly. It is one of the main functions of a company. Wrong accounting could present a very wrong picture of the company. This can misguide the company owners about the position of the company financially. Accounting is not just about recording the transactions of the company. It involves a much bigger function of drawing a right picture of how the company is performing with regard to profits. Accounts function also includes the extraction of various reports which are essential to guide the company to its future.
An accountant also has to prepare the list of payables and receivables. They should also prepare the profit and loss account, balance sheet, trial balance, and bank reconciliation statements. The accounting department should also prepare statements and reports to be presented to the ACRA and IRAS in the format that they mandate. Anyone who is not properly qualified cannot complete all these jobs correctly. If the accounts are not prepared and submitted properly it could invite trouble from the authorities. Many companies cannot afford to appoint such a qualified person. Outsourcing companies like Singapore Accounts can do the job perfectly.
We have highly qualified accountants who can prepare all the statements as per the requirement of the authorities. We can also help to extract the necessary reports which are useful for the company. Singapore Accounts is one of the top accounting firms in Singapore providing this service for many companies. Our professional accountants can also give proper guidance to the companies regarding the financial matters.
All companies need to maintain a record of all the financial transactions it does. Whether it is sales receipts or expenses, they have to be recorded properly. This is essential for the proper functioning of the company. Regular maintenance of accounts helps in presenting a correct picture of what is being spent and how much is earned by the company. This will also help when the financial statement has to be prepared for submission to the ACRA.