So my journey started and I left my office. The first few challenges were easy as I was starting to set up my office in the heart of CBD. For any startup business the first thing that comes to your mind is about the registration process and incorporation process. It was quite a daunting task to get these two things right. My friends suggested me few organizations and started contacting them. Since I was novice in this area I was getting confused about the various features and services they were offering. Each service provider had different package and services offered. Luckily I came across Quality Accountant one of the service provider that offers various accounting and bookkeeping services at low cost.

Apart from the registration and incorporation, there were other issues also that I didn’t even thought in the first place. One of the main issues was to monitor the accounts of the company. I knew that keeping proper paper work for every transaction is very important as we need to produce them at the time of filling tax.

Quality Accountant then came up with an easy solution to maintain my accounts and helped me to prepare all the bookkeeping of my firm.

The services they offered me:

Record each financial Transaction of the Business: The accountants employed by the accounting services for startups Singapore record each financial transaction of their client's business in the appropriate books. They go through every receipt and invoice of the firm. It clarifies the cash flow of the business.

Being a trained and experienced accountant can come to know the financial health of the business after going through its records. If it is necessary, the accounting services like QAPL give advice on the business matter to their clients. Most importantly, the documentation of the transactions gives the business owners a chance to review them at a later date. The owner then can judge them essential or not and take the appropriate steps in future.

In a competitive market place like Singapore, the business owner has to keep aware of the changes in the market trends and evaluate them as a threat or an opportunity. Because you can never tell what will cross your path."

Plan for Major Expenses: For a business owner it is better to be prepared for both, a disaster and an opportunity. He should always have an access to a handy capital which will enable him to seize a profitable business opportunity or prevent a business emergency to keep his business afloat.

Moreover, he should also plan and provide for the major expenses at the business like computer hardware, software licenses, subscriptions, machines, equipment, corporate tax, etc. It is necessary, as any shortfall in the capital may have an adverse effect on the business activities.

Keep a Tight Rein on Business Expenses: One can always remember bigger achievements and expenses. However, small business expenses also matter. You need to record them as if they are a significant expense. Because unchecked, small expenses can pile up very fast and sneak up on you unnoticed. They can make you wonder where you spent such a big amount. If pay for them using your credit card, it becomes easy to track and review them. The information becomes useful to the accounting firms in Singapore at the time of filing tax returns.

Keeping updated books of accounts is a mandatory obligation for each of the Singapore business firm and company. If they do not have an in-house activity to tend to the requirement, they need to appoint an accounting firm in Singapore to ensure their statutory compliance or face the consequences.

Right now I am running my business for almost 3 years and thanks to the accounting services in Singapore offered by Quality Accountant, that all my expenses are under strict monitor and I can easily check my balance sheet at any point of time.

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