Remove Corporation Tax Remove Invoicing Remove Reconciling
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Common Mistakes SMEs Make When Analysing Financial Statements and How to Fix Them

Counto

Not Reconciling Accounts Payable and Receivable Why This Happens: In the rush of running a business, SMEs in Singapore often overlook regular reconciliation, leading to discrepancies that can affect cash flow. Example: Bens construction company in Singapore didnt track overdue invoices, leading to cash shortages just before payroll.

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Filing Requirements for Sole Proprietors: All You Need to Know

Counto

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.

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5 Potential Reasons Your Tax Return May Be Flagged By IRAS

Counto

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.

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Filing Corporate Income Tax

Billah and Associates

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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Bank Feed Integration in Accounting: Why it Matters for Small Businesses

Counto

With bank feeds, transactions appear in your accounting system in real time, ready to be categorised and reconciled. Faster Reconciliation Bank feed integration allows real-time reconciliation, where your accounting system automatically matches bank transactions to invoices, bills, and expenses.