Counto

NOVEMBER 7, 2024

Streamline tax filings and avoid penalties. Key Financial Statements You Should Know: There are three primary financial statements you should focus on: Income Statement : Shows your business’s profitability over a specific period.

Financial Statements 40

Financial Statements Accounting Accounting Payroll 40

Counto

MARCH 23, 2025

Seamless Compliance with IRAS and ACRA Singapores regulatory environment requires SMEs to stay on top of IRAS tax filings and ACRA statutory requirements. Automated Tax Calculations GST and corporate tax are calculated automatically, with reminders for upcoming deadlines. Cloud systems help ensure compliance.

Data Entry 52

Data Entry Accounting Accounting Bookkeeping 52

Counto

MARCH 24, 2025

Why Accounting Services Matter for SMEs Even at early stages, businesses must handle: Bookkeeping and expense tracking GST submissions (if registered) Corporate tax filings with IRAS Payroll and CPF contributions ACRA annual returns Getting these right helps avoid penalties, cash flow issues, and compliance risks and sets the foundation for growth.

Accounting 52

Accounting Accounting Payroll Bookkeeping 52

Counto

MARCH 23, 2025

Bookkeeping Typically charged monthly or quarterly, bookkeeping services involve recording daily transactions, reconciling bank statements, and maintaining ledgers. Regulatory Requirements Some businesses, especially those near audit thresholds, need additional financial statements or management reports, which can also affect pricing.

Bookkeeping 52

Bookkeeping Accounting Accounting Payroll 52

Counto

MARCH 23, 2025

Tax Accounting Staying Compliant, Avoiding Surprises Singapores tax system is efficient, but compliance still requires attention. Corporate Tax Filing Timely and accurate submission of Form C-S or Form C ensures compliance with IRAS regulations. Professional accounting services take the burden off your shoulders.

Bank Reconciliation 52

Bank Reconciliation Financial Reporting Accounting Accounting 52

Counto

JANUARY 9, 2025

Keep Accurate Records : Its essential to maintain accurate records of all GST -related transactions, including receipts, invoices, and financial statements. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Collections 52

Collections Tax Corporation Tax Financial Statements 52

Counto

DECEMBER 13, 2024

Preparing Financial Statements Financial statements provide a clear picture of your companys financial health. These must comply with the Singapore Financial Reporting Standards (SFRS) and are a critical part of tax and compliance filings. Corporate tax returns must be submitted annually.

Financial Statements 52

Financial Statements Corporation Tax Tax Auditing 52

SMB Accounting and Consulting

MARCH 8, 2023

According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations.

Tax 52

Tax Accounting Accounting Corporation Tax 52

Counto

NOVEMBER 12, 2024

Effective tax planning and staying on top of compliance is vital for sustainable growth. Tax and Compliance Tips: Proactive Tax Planning Forecast your tax obligations based on projected revenue. Regularly review your financial statements to avoid surprises when tax season arrives.

Budgeting 40

Budgeting Tax Corporation Tax Financial Statements 40

Counto

FEBRUARY 8, 2024

Private companies can skip AGMs if they send financial statements to shareholders within five months after FYE, unless shareholders request an AGM within 14 days before the end of the sixth month after FYE. Listed companies must hold AGMs within four months after FYE.

Tax 52

Tax Financial Statements Corporation Tax Financial Reporting 52

Counto

MARCH 19, 2024

During the AGM, financial statements, which should be no more than 6 months old, are presented to shareholders. Private companies may be exempt from AGMs if financial statements are sent to shareholders within 5 months after the financial year-end, unless requested otherwise by shareholders.

Corporation Tax 52

Corporation Tax Financial Statements Tax Accounts Payable 52

Counto

SEPTEMBER 7, 2024

An audit is an independent examination of a company’s financial statements by a licensed auditor. The purpose is to ensure that the financial statements accurately reflect the company’s financial position and comply with the Singapore Financial Reporting Standards (SFRS) and the Companies Act.

Auditing 52

Auditing Financial Statements Tax Budgeting 52

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.

Corporation Tax 52

Corporation Tax Tax Financial Statements Financial Records 52

Counto

SEPTEMBER 12, 2024

The system enabled real-time access to financial data, automated invoicing, and efficient reconciliation, improving their overall financial management. Tax Compliance Effective tax management is essential: Corporate Tax Filing: Handles corporate tax returns, ensuring compliance with Singapore’s tax laws.

Budgeting 52

Budgeting Corporation Tax Financial Analysis Budgeting Manager 52

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. To stay ahead and prevent potential issues, accurate record-keeping is crucial.

Tax 52

Tax Financial Statements Reconciling Record Keeping 52

Accounting Tools

OCTOBER 4, 2023

Related Courses C Corporation Tax Guide Types of Business Entities What is a Parent Company? Parent Company Financial Statements The general purpose financial statements of the parent company are considered to be those that include the consolidated results and financial positions of its subsidiaries.

Financial Statements 40

Financial Statements Corporation Tax Tax Accounting 40

Counto

MARCH 23, 2024

Comparability: By standardising accounting language and practices, SFRS ensures that financial statements from different companies can be easily compared. This allows stakeholders to better understand and analyse financial data for decision-making.

Financial Reporting 52

Financial Reporting Accruals Financial Statements Corporation Tax 52

Counto

JANUARY 21, 2025

Filing Corporate Income Tax Returns (Form C-S/C) e-Filing Deadline: 30 November 2025 All companies, even those that are dormant, are required to submit their corporate tax returns. To streamline the process, ensure your financial statements and any supporting documents are organised early.

Tax 52

Tax Corporation Tax Financial Statements Financial Records 52

Counto

FEBRUARY 7, 2024

Months 7-12: Taxes and Annual Returns Towards the end of the first year, focus shifts to corporate tax considerations and annual return filings. While new businesses may not be required to file corporate taxes in their inaugural year, understanding these obligations sets the stage for future compliance.

Corporation Tax 52

Corporation Tax Payroll Financial Statements Accounts Payable 52

Counto

FEBRUARY 13, 2024

Annual Filings : Fulfilling corporate secretary requirements and providing management reports, such as balance sheets and profit and loss statements. When the company resumes activities, it must begin submitting financial statements and adhere to filing Annual Returns and Corporate Tax Returns as an active entity.

Financial Statements 52

Financial Statements Corporation Tax Financial Records Tax 52

Counto

NOVEMBER 7, 2024

Example : A café upgrading its kitchen equipment can benefit from accelerated depreciation, lowering its taxable income and reducing its corporate tax liability. Financial Statements : F&B businesses are required to prepare financial statements in accordance with Singapore Financial Reporting Standards (SFRS).

Tax 40

Tax Financial Statements Financial Reporting Record Keeping 40

Accounting Tools

OCTOBER 6, 2023

Related Courses Business Strategy C Corporation Tax Guide Types of Business Entities What is a Conglomerate? The financial results of the subsidiaries are consolidated into a single set of financial statements for the entire entity.

Corporation Tax 40

Corporation Tax Financial Statements Tax 40

Remote Quality Bookkeeping

APRIL 3, 2023

IRS Announced Tax Bracket Changes In October, the IRS announced Revenue Procedure 2022-38, which adjusted inflation to over 60 tax provisions [1]. The most notable changes involve the income thresholds for individual and married couple tax brackets as well as some changes to corporate tax payments.

Tax 52

Tax Corporation Tax Bookkeeping Financial Statements 52

Accounting Tools

OCTOBER 14, 2023

Related Courses C Corporation Tax Guide Types of Business Entities What is a Shareholder? A shareholder is an individual or entity that owns the shares of a corporation.

Corporation Tax 40

Corporation Tax Financial Statements Tax 40

Counto

MARCH 13, 2024

Tax Benefits and Incentives Singapore offers attractive tax incentives for local companies, and private limited companies are no exception. With a flat corporate tax rate of 17% on chargeable income, Pte Ltd businesses enjoy a favourable tax environment.

Corporation Tax 52

Corporation Tax Financial Statements Tax Accounting 52

Counto

SEPTEMBER 28, 2024

Depreciation vs. Capital Allowances: Depreciation: Recorded in financial statements but is not tax-deductible in Singapore. Capital Allowances: Essential for achieving tax deductions. Get accounting plans that combine bookkeeping with corporate tax filing to help you stay compliant at an affordable price.

Tax 52

Tax Corporation Tax Financial Statements Computation 52

Counto

DECEMBER 13, 2024

Mastering Cash Flow Statements: What Every SME in Singapore Needs to Know For small and medium-sized enterprises (SMEs) in Singapore, mastering cash flow statements is crucial for sustaining growth, ensuring operational efficiency, and navigating the complexities of a competitive market.

Invoicing 52

Invoicing Billing Financial Reporting Accounting Software 52

Counto

OCTOBER 4, 2024

Prepare Your Pitch: Tailor your pitch to resonate with the interests of your target investors, presenting clear financial statements and forecasts. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Corporation Tax 52

Corporation Tax Tax Financial Statements Bookkeeping 52

Counto

SEPTEMBER 12, 2024

Analyse Financial Reports Regularly 4.1 Review Key Financial Statements Monthly Analysis: Regularly review income statements, balance sheets, and cash flow statements to understand your financial performance.

Deposits 52

Deposits Budgeting Accounting Accounting 52

Counto

NOVEMBER 13, 2024

Ensure Your Company Is Incorporated : You must be a legally registered business with the correct financial standing to apply for grants. Prepare Required Documents : Have your business registration, financial statements, and relevant operational plans ready.

Payroll 40

Payroll Corporation Tax Financial Statements Tax 40

AvidXchange

MARCH 22, 2024

As a result, he experienced time savings, more accurate financial statements and centralized data. "Before, we were pushing a lot of paper. Audits are intended to review processes and guarantee financial statements are accurate. In a previous role, his team implemented AvidXchange to automate AP functions.

Accounting 52

Accounting Accounting AP Budgeting 52

Billah and Associates

JANUARY 8, 2019

Tax audit for businesses A corporate tax audit is an efficient and effective mode of scrutiny, especially when done by a primary corporate tax accountant. The process of Corporate Tax Audit – an Overview The process of preparation for corporate tax audit begins when you prepare the T2 or other returns.

Corporation Tax 52

Corporation Tax Auditing Tax Financial Statements 52

Billah and Associates

MARCH 22, 2018

For corporate income tax returns the filing requires the production of financial statements based on information that you will be required to provide to us so we will start by providing a detailed checklist outlining all of the documents that you will need to submit to us.

Corporation Tax 40

Corporation Tax Tax Financial Statements Payroll 40

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.

Tax 52

Tax Corporation Tax Financial Statements Bookkeeping 52

Billah and Associates

MARCH 18, 2018

Professional help for corporate tax services can streamline your payroll process, manage payroll taxes, and ensure your business compliance needs are met, and taxes are paid consistently. Hiring independent staff is not the best solution always because maintaining separate resources can require a lot of investment.

Payroll 52

Payroll Accounting Accounting Bookkeeping 52

Billah and Associates

SEPTEMBER 10, 2018

Generating financial statements on a regular basis for you to understand and keep track of your company finances. Identifying tax deductions and credits which are specific to your business, thus enabling you to save corporate tax. Advising you on how to make your tax payments on time throughout the year.

Small Business Accounting 52

Small Business Accounting Accounting Accounting Corporation Tax 52

Counto

JANUARY 13, 2025

This ensures your bookkeeping is aligned with the financial period, and your charitable giving is accurately reflected in your financial statements. Track Donations for Tax Deductions Singapore offers a tax deduction of 2.5 times the value of donations made to approved IPCs.

Bookkeeping 52

Bookkeeping Financial Statements Tax Record Keeping 52