Counto

NOVEMBER 10, 2024

Documentation and Record-Keeping Proper documentation and record-keeping are essential for GST compliance: Invoices and Receipts : Keep all invoices, receipts, and records of taxable transactions. Audit Trail : Accurate records are required for input tax claims and to ensure smooth filing during any tax audits.

Record Keeping 52

Record Keeping Billing Invoicing Tax 52

Counto

MARCH 23, 2025

AI-Powered Data Capture Financial data from invoices, receipts, and bank statements is automatically extracted and entered into the system, reducing human error and saving time. Automated Tax Calculations AI ensures your corporate tax and GST filings are accurate and up to date, helping you avoid penalties.

Data Entry 52

Data Entry Bank Reconciliation Bookkeeping Accounting 52

Counto

JANUARY 7, 2025

Automation : Automate routine tasks like invoicing and payroll to free up time for strategic growth. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs. Embracing technology ensures smoother operations and more informed decision-making.

Corporation Tax 52

Corporation Tax Bookkeeping Tax Payroll 52

Counto

NOVEMBER 7, 2024

Improve Invoicing : Use invoicing software to streamline billing and ensure payments are collected promptly. Here’s how you can keep your tax planning on track: Understand GST Requirements : If your revenue exceeds the threshold, ensure you’re registered for Goods and Services Tax (GST) and comply with filing deadlines.

Financial Statements 40

Financial Statements Accounting Accounting Payroll 40

Counto

JANUARY 9, 2025

You must also notify your customers that you are now a GST -registered business and include the GST on invoices. These returns provide the IRAS with details of the GST you have collected and paid, and they ensure that you remain compliant with Singapores tax laws.

Collections 52

Collections Tax Corporation Tax Financial Statements 52

Counto

MARCH 24, 2025

Leverage Cloud-Based Accounting Solutions Accounting firms that use cloud platforms often offer: Automated bank feeds Real-time financial dashboards Easy invoicing and expense tracking Faster reporting and fewer manual errors These tools reduce labour costs, allowing firms to pass cost savings to clients and saving you time.

Accounting 52

Accounting Accounting Payroll Bookkeeping 52

Counto

JANUARY 9, 2025

Input Tax Credits : When you’re GST -registered, you can recover the GST you pay on imported digital services by offsetting it against the GST you collect from your customers. This ensures that the tax doesnt unnecessarily eat into your profits. Compliance : To avoid penalties, make sure you comply with all GST regulations.

Tax 52

Tax Collections Budgeting Record Keeping 52

Counto

NOVEMBER 10, 2024

Supporting Your Claims Why it’s important: Detailed documentation of purchases, employee wages, and other expenses allows you to substantiate your tax claims, reducing the risk of disputes with the tax authorities. Get accounting plans that combine bookkeeping with corporate tax filing to help you stay compliant at an affordable price.

Tax 40

Tax Financial Records Auditing Invoicing 40

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

DECEMBER 7, 2024

Example: Bens construction company in Singapore didnt track overdue invoices, leading to cash shortages just before payroll. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Financial Statements 52

Financial Statements Reconciling Accounts Payable Accounts Payable 52

Counto

JANUARY 9, 2025

Be mindful of this requirement to avoid incorrect invoicing. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs. Get accounting plans that combine bookkeeping with corporate tax filing to help you stay compliant at an affordable price.

Corporation Tax 52

Corporation Tax Tax Bookkeeping Invoicing 52

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

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

Automation: Automated systems streamline invoicing, expense tracking, and reconciliation, saving time and reducing errors. The system enabled real-time access to financial data, automated invoicing, and efficient reconciliation, improving their overall financial management.

Budgeting 52

Budgeting Corporation Tax Financial Analysis Budgeting Manager 52

LedgerDocs

APRIL 6, 2023

By tracking all your income and expenses, you’ll be able to claim deductions, file your tax returns accurately, and avoid audits. You can use bookkeeping document management software, such as LedgerDocs , to help you organize, and keep track of your income, invoices and expenses.

Tax 52

Tax Record Keeping Corporation Tax Bookkeeping 52

CapActix

FEBRUARY 27, 2025

The IRS wont accept estimates or verbal explanations, you need receipts, invoices, and records to support every claim. Corporations Corporations are separate legal entities, so they must file a corporate tax return. However, every deduction must be properly documented.

Tax 52

Tax CPA Financial Records Auditing 52

Counto

OCTOBER 7, 2024

Maintain Detailed Records Keeping organised records is crucial for claiming ITCs: Retain all pertinent documents, such as invoices and receipts. Example: A startup might adopt a digital filing system for its invoices and receipts, ensuring they are readily accessible during an audit. Easily generate tax invoices.

Tax 52

Tax Record Keeping Invoicing Corporation Tax 52

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.

Record Keeping 52

Record Keeping Corporation Tax Auditing Invoicing 52

Counto

JANUARY 7, 2025

Changes to Corporate Tax Rates Adjustments to corporate tax rates may be introduced in 2025 as part of government measures to promote economic growth and address fiscal needs. What to Expect: Possible changes to existing tax incentives. Implement automated solutions for payroll, invoicing, and reporting.

Corporation Tax 52

Corporation Tax Payroll Financial Reporting Collections 52

Counto

DECEMBER 13, 2024

Understanding Common Cash Flow Mistakes Small business owners should be aware of common mistakes that can worsen cash flow issues: Inefficient Invoicing Systems: Delayed or inaccurate invoicing can slow down the cash inflow process. Use automatic invoicing tools to streamline the process.

Invoicing 52

Invoicing Billing Financial Reporting Accounting Software 52

Counto

OCTOBER 3, 2024

Example: A medical equipment seller should keep receipts and invoices organised to facilitate GST filings. Ensure GST Compliance Accurately reflect GST on invoices and file returns promptly to avoid penalties. Get accounting plans that combine bookkeeping with corporate tax filing to help you stay compliant at an affordable price.

Record Keeping 52

Record Keeping Accounting Accounting Auditing 52

Counto

MARCH 19, 2024

Tax Deadlines Resident sole proprietors generally need to file their personal income tax returns by April 15th each year. Non-residents have varying deadlines based on their tax residency status. Record Keeping Maintain meticulous financial records, including income statements, receipts, invoices, and expense records.

Record Keeping 52

Record Keeping Financial Records Accruals Corporation Tax 52

Counto

SEPTEMBER 12, 2024

Keeping Accurate Records Documentation Requirements: To claim input tax, agencies must maintain detailed records such as invoices and receipts that clearly show the GST amount charged. Example: An invoice for SGD 2,000 worth of office equipment with clear GST details allows you to claim the input tax credit.

Tax 52

Tax Collections Corporation Tax Invoicing 52

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. Identifying tax deductions and credits which are specific to your business, thus enabling you to save corporate tax.

Small Business Accounting 52

Small Business Accounting Accounting Accounting Corporation Tax 52

AvidXchange

NOVEMBER 3, 2021

In a PYMNTS survey of AP pros, 25 percent said duplicate invoices or payments “create noticeable pain points in manual AP operations. Contractors who work for businesses, such as freelancers, typically use this form to verify their tax identification numbers (TINs), and your business will need those TINs when filing corporate tax forms.

AP 52

AP Invoicing Accounts Payable Accounts Payable 52

Counto

SEPTEMBER 28, 2024

Example: A company that deferred a claim on a low-value asset last year can still write it off in the current year if it meets the eligibility criteria, ensuring they don’t miss out on potential tax benefits. Record-Keeping Maintain comprehensive records, including: Invoices: Clearly document all asset purchases.

Computation 52

Computation Tax Record Keeping Corporation Tax 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

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).

Budgeting 52

Budgeting Purchase Order Corporation Tax Computation 52

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. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Purchase Order 52

Purchase Order Corporation Tax Tax Auditing 52

Counto

SEPTEMBER 20, 2024

Automate with Accounting Software Efficiency through Automation: Utilising accounting software designed for SMEs can automate GST calculations and invoicing, reducing human error. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Bookkeeping 52

Bookkeeping Accounting Software Corporation Tax Tax 52

Counto

SEPTEMBER 12, 2024

Automated Services: Tools for invoice processing and financial management. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs. Digital Banking Innovations Digital banking solutions from wholesale banks enhance operational efficiency for SMEs.

Corporation Tax 52

Corporation Tax Invoice Processing Bookkeeping Financial Operations 52

Counto

SEPTEMBER 7, 2024

Fieldwork: The auditor reviews your financial records, such as invoices and bank statements, and interviews key personnel. Consider the following tips: Maintain Organised Records: Keep your financial documents, such as invoices and bank statements, well-organised and up to date.

Auditing 52

Auditing Financial Statements Tax Budgeting 52

Counto

OCTOBER 8, 2024

Streamlined Payment Processes: Automated systems categorise invoices and sync with financial records, reducing manual workload and ensuring timely vendor payments. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs.

Financial Reporting 52

Financial Reporting Tax Payroll Corporation Tax 52

Counto

SEPTEMBER 12, 2024

These tools automate tasks such as recording transactions, generating invoices, and creating financial reports. Experience the Counto advantage Counto is the trusted outsourced provider of accounting, tax preparation and CFO services for startups and SMEs. Establish a Robust Bookkeeping System 1.1

Deposits 52

Deposits Budgeting Accounting Accounting 52

AvidXchange

MARCH 22, 2024

Automating tasks like coding invoices lets your team focus more time on value-added tasks like analyzing reports. Perry has first-hand knowledge of how AP automation can positively impact accounting and finance departments. Invoices were coming in manually. You know, invoices were coming in more manually.

Accounting 52

Accounting Accounting AP Budgeting 52

Counto

MARCH 24, 2025

Faster Reconciliation Bank feed integration allows real-time reconciliation, where your accounting system automatically matches bank transactions to invoices, bills, and expenses. Knowing how much cash you have on hand supports better spending, saving, and investment decisions.

Accounting 52

Accounting Accounting Reconciling Data Entry 52

Counto

JANUARY 13, 2025

Ensure you have proper documentation, such as invoices or valuation reports, to substantiate the value of non-cash donations. ” This not only ensures compliance but also highlights your businesss commitment to corporate social responsibility (CSR). For cash donations, simply note the donation amount.

Bookkeeping 52

Bookkeeping Financial Statements Tax Record Keeping 52