Counto

MARCH 23, 2025

What Are the Different Types of Accounting Services for SMEs in Singapore? Staying financially organised and compliant with local regulations is critical, and thats where professional accounting services can make all the difference. Its a core component of professional accounting services. Still doing accounting the old way?

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Counto

NOVEMBER 7, 2024

Essential Accounting Tips for Singapore’s F&B Industry The food and beverage (F&B) industry in Singapore faces unique challenges, especially in terms of financial management. In this post, we’ll cover some essential accounting practices and tips that can help streamline financial management for F&B businesses in Singapore.

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Billah and Associates

AUGUST 15, 2022

To record business income, self-employed people must complete the T-2125 form and their regular T1 individual income tax return. You can get assistance from the small business tax preparation service for filing your tax. Numerous apps from tax preparation services in Toronto can be of great help.

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Counto

NOVEMBER 10, 2024

Filing Deadlines : The GST return must be filed within one month after the end of the accounting period. Example : If a restaurant’s accounting period ends on 31st March, the GST return must be submitted by 30th April. Let Counto’s tax specialists handle Singapore’s tax complexities for you.

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Counto

JANUARY 7, 2025

A solid growth strategy not only aligns your goals with market realities but also integrates sound accounting services to maintain financial stability. Budget for Growth : Ensure your financial goals account for investments needed for expansion, such as new hires or marketing.

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Counto

JANUARY 9, 2025

GST Registration for Small Businesses As a small business owner in Singapore, understanding when and how to register for GST is key to managing your tax obligations and staying compliant with the law. Let Counto’s tax specialists handle Singapore’s tax complexities for you. Explore our plans here.

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Counto

JANUARY 9, 2025

Some common examples include: Cloud-based software : Such as accounting tools, project management platforms, and CRM systems. Let Counto’s tax specialists handle Singapore’s tax complexities for you. Our comprehensive accounting plans seamlessly integrate GST filingno extra fees, just straightforward expertise.

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Counto

DECEMBER 7, 2024

Mistake: Waiting until tax season to review financial statements can be risky, as trends or issues may go unnoticed until its too late. Example: John, a bakery owner in Singapore, only looks at his financials when his accountant sends them for tax season. Explore our all-in accounting plans and keep more of what you earn.

Financial Statements 52

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Counto

NOVEMBER 10, 2024

Navigate tax season with confidence: Our tailored, all-in-one accounting plans optimise your finances year-round. Discover how we can streamline your taxes and accounting today. What to track: Maintain a well-organised filing system for receipts, invoices, and other financial documents to back up your claims.

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Counto

JANUARY 9, 2025

This allows businesses to refund any GST paid on expenses related to providing these services, making it easier to expand your business internationally without extra tax burdens. Let Counto’s tax specialists handle Singapore’s tax complexities for you. Be mindful of this requirement to avoid incorrect invoicing.

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Counto

SEPTEMBER 12, 2024

How Business Support Services Can Improve Your Accounting Operations in Singapore? Managing accounting operations can be challenging for small business owners in Singapore. Here’s how leveraging these services can enhance your accounting operations: 1. Streamlined Processes 1.1 Streamlined Processes 1.1

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Counto

OCTOBER 3, 2024

Accounting Principles for Online Sellers Aiming for CAB Status As a small business owner in Singapore, obtaining accreditation as a Conformity Assessment Body (CAB) can elevate your business profile and open new avenues. However, with accreditation comes the need for meticulous accounting practices.

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Counto

OCTOBER 3, 2024

Here are some strategies for leveraging working loans effectively while considering corporate tax implications. Invoice Financing: This enables businesses to borrow against unpaid invoices, improving immediate cash flow without waiting for customer payments, thus avoiding potential tax liabilities from delayed cash inflows.

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CapActix

FEBRUARY 27, 2025

Businesses using accounting software like QuickBooks, Xero, or FreshBooks can easily pull these reports. Having accurate records simplifies tax filing and minimizes errors. The IRS wont accept estimates or verbal explanations, you need receipts, invoices, and records to support every claim.

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Counto

SEPTEMBER 12, 2024

Managing Finances and Accounting in Singapore’s Beauty and Spa Industry Effectively managing finances and accounting is crucial for the success of beauty salons and spas in Singapore. Here’s a comprehensive guide on how to manage your salon or spa’s finances and accounting efficiently.

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Counto

JANUARY 7, 2025

2025 Regulatory Changes: What SMEs in Singapore Need to Know As we approach 2025, small businesses in Singapore are facing a dynamic regulatory landscape that will impact various aspects of their operations, including accounting services. What to Expect: Possible changes to existing tax incentives.

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Counto

OCTOBER 7, 2024

Navigate tax season with confidence: Our tailored, all-in-one accounting plans optimise your finances year-round. Discover how we can streamline your taxes and accounting today. Strategies to Optimise Your Input Tax Credits 3.1 Easily generate tax invoices. Click here to learn more.

Tax 52

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Counto

OCTOBER 3, 2024

Documentation: Export permits, travel records, and invoices must be maintained. Maintaining Compliance with GST Regulations Record keeping: Ensure export permits and invoices are in place. Example: A chocolate business exports its products with proper permits and invoices, passing IRAS audits without GST liabilities.

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Counto

DECEMBER 13, 2024

While it may seem like just another accounting report, this financial statement provides a clear picture of how money moves in and out of your business, helping you make informed decisions. Proper accounting services can help SMEs stay on top of their financial situation and provide valuable insights to keep operations running smoothly.

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AvidXchange

MARCH 22, 2024

During the course of a year, certain periods can be stressful within accounting and finance departments, as teams are asked to keep up with their day-to-day responsibilities while taking on extra work. Currently, he’s an account executive for the real estate vertical at AvidXchange, helping AP teams streamline processes with automation.

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Counto

MARCH 19, 2024

Record Keeping Maintain meticulous financial records, including income statements, receipts, invoices, and expense records. Proper record-keeping is crucial for accurate tax reporting and to navigate audits or inquiries by the Inland Revenue Authority of Singapore (IRAS).

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Counto

SEPTEMBER 12, 2024

Let Counto’s tax specialists handle Singapore’s tax complexities for you. Our comprehensive accounting plans seamlessly integrate GST filing—no extra fees, just straightforward expertise. Input Tax Claims 3.1. Explore our plans here. Compliance and Reporting 4.1.

Tax 52

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Counto

SEPTEMBER 28, 2024

Navigate tax season with confidence: Our tailored, all-in-one accounting plans optimise your finances year-round. Discover how we can streamline your taxes and accounting today. Record-Keeping Maintain comprehensive records, including: Invoices: Clearly document all asset purchases. Click here to learn more.

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Counto

SEPTEMBER 20, 2024

Example: A small IT consultancy firm with a turnover of SGD 500,000 opts for voluntary GST registration to reclaim tax on its equipment purchases, thereby improving cash flow. Ensure your billing and accounting reflect these changes accurately. Zero-Rated Supplies: Transactions such as exports are zero-rated at 0%.

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Counto

OCTOBER 16, 2024

Comprehensive Data Collection Centralised Data Management : Gather all financial information, including invoices, receipts, and purchase orders, into a single system for easy access. Example : A grocery store uses automated checks to verify input tax claims against purchase records, minimising inaccuracies. Explore our plans here.

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Counto

JUNE 13, 2023

In this article, let us examine potential reasons why your business tax return may attract attention and provide valuable insights on avoiding them, ensuring a smooth and trouble-free corporate tax filing experience. Supercharge your business with Counto, a trusted provider of tax and accounting services for SMEs in Singapore.

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AvidXchange

NOVEMBER 3, 2021

Here at AvidXchange, we want to help your accounts payable (AP) team avoid making duplicate payments — a significant industry problem. In a PYMNTS survey of AP pros, 25 percent said duplicate invoices or payments “create noticeable pain points in manual AP operations. When that invoice arrives, you can’t be sure it’s legitimate.

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NextProcess

FEBRUARY 12, 2025

The specific issues these CFOs believed could have the biggest impacts on their businesses were tariffs and changes to corporate tax policies. quantities on purchase orders, dollar amounts on invoices) and metadata related to the process (e.g. who approved invoice payment, when a purchase order entered the system).

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Counto

SEPTEMBER 12, 2024

Automated Services: Tools for invoice processing and financial management. Our expert accountants deliver comprehensive services—from bookkeeping to tax filing—at transparent rates. Explore our all-in accounting plans and keep more of what you earn. At Counto, we prioritise your bottom line.

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Counto

SEPTEMBER 7, 2024

Our expert accountants deliver comprehensive services—from bookkeeping to tax filing—at transparent rates. Explore our all-in accounting plans and keep more of what you earn. Engage an Auditor: Select a qualified auditor who is a Public Accountant registered with the Accounting and Corporate Regulatory Authority (ACRA).

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Counto

OCTOBER 8, 2024

Fast, AI-Driven Financial Insights Timely Access to Data: Traditional accounting methods can be slow, leaving business owners waiting for crucial financial information. Tired of surprise fees from accounting services? From multicurrency accounting to tax filing, Counto handles it all—with unlimited transactions.

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LedgerDocs

FEBRUARY 25, 2025

Tax season 2025 is fast approaching, and for bookkeepers and accountants, staying on top of the important corporate tax deadlines is the key to completing smooth filings for their clients. Canadian-Controlled Private Corporations (CCPCs) that meet specific criteria may have three months to pay taxes owing for the year.

Corporation Tax 52

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Billah and Associates

JANUARY 27, 2021

Corporate tax deadlines are a little different than personal tax deadlines. For tax purposes, corporations can have year-ends that are not December 31st. Corporate tax return filings are due 6 months after the year-end For eg, a December 31, 2022 year-end would have a June 30, 2023, due date.

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Billah and Associates

SEPTEMBER 10, 2018

As a first-time entrepreneur, starting a small business enterprise in Canada has its fair share of financial challenges which include controlling business costs, hiring employees, and generating sales invoices. For a small business owner in Canada, employing an accountant or a professional accounting service firm may seem to be a luxury.

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LedgerDocs

APRIL 6, 2023

You can use bookkeeping document management software, such as LedgerDocs , to help you organize, and keep track of your income, invoices and expenses. However, if you’re operating as a corporation, you will have to file a separate corporate tax return (Form T2) and pay corporate taxes on the business income.

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Counto

MARCH 24, 2025

Bank Feed Integration in Accounting: Why it Matters for Small Businesses If youre still downloading bank statements manually and matching transactions line by line, youre not alone but theres a better way. Bank feed integration allows your bank transactions deposits, payments, transfers to sync directly into your accounting platform.

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Counto

JANUARY 13, 2025

Here’s how you can ensure compliance with tax regulations and maximise your charitable giving: 1. Establish a Dedicated Account for Charity Donations Create a specific account or category for charity donations in your accounting system, such as “Charitable Contributions” or “CSR Expenses.”

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