Starting a new business in Singapore is an exciting journey full of opportunities, but it also comes with some challenges, especially regarding financial management. As a startup founder, understanding the intricacies of accounting and bookkeeping is critical to the success and sustainability of your business. This comprehensive guide aims to provide accounting and bookkeeping for…
In Singapore, small businesses play a vital role in driving the economy and contributing to the diverse business landscape. Bestar Services understands this need and advocates for the employment of professional accounting services to ensure the financial health and compliance of these businesses. This article delves into the significance of professional accounting services for small…
In the 2020 decade, it is challenging to cope with changing technologies, especially in payroll and accounting services. Companies and businesses need to invest time, effort, and money in updating the software & tools, training human resources, and hiring new staff in specific scenarios. This is where outsourcing accounting services come into the picture. Accounting…
Every country has its own rules and regulations which keep upgrading day in and day out. However, it is tough for businesses to keep a track of them and adhere to these laws. In the absence of following any order might yield huge penalties which can be extremely bad for PR. However, Bestar, one of…
Tourism is one thing that Singapore is known for. It is popular for spectacular views, amazing service, and stunning accommodations that helped Singapore succeed in the tourism industry. Therefore, so many foreign investors come to Singapore to open their own hotels. If you are in the hotel business, you know how difficult it is…
Singapore is a country where taxes are significantly low. It has a free economy and it strategizes on policies that are investor-friendly. But in the last few decades, the businesses in Singapore have increased. That has led to an increased requirement for bookkeeping and accounting services. It also raised a demand for outsourcing accounting services. …
Singapore registered companies are required to keep proper books of accounts. This bookkeeping process not just helps in facilitating the day-to-day account maintenance but also helps in financial statement drafting. It is because of it that a business gets a complete insight into sound decision-making and efficient financial management.
There are many accounting service providers in Singapore. One can always choose Bestar for their bookkeeping services, but before we move ahead, it is important to know what bookkeeping is.
Bookkeeping refers to the process conducted daily for recording all financial transactions and details. It also includes posting debits and credits, generation of the invoice, completing the payroll, and balancing the current account and general ledgers.
Outsourced Bookkeeping Service in Singapore Bookkeeping is an essential part of any organization to run smoothly and in compliance with evolving tax laws. However, often business owners lack the time, focus, or training to perform the daily tasks of managing their financial records and statements on their own. This is where outsourced bookkeeping services come…
Why Appoint An Accounting Firm in Singapore Strict tax laws and their effective enforcement is a growing phenomenon in the Singapore business environment. This has led to an increasing need for businesses, big and small, to appoint accounting firms to take care of their books of accounts and adhere to statutory compliance. The best accounting…
Outsourced Accounting Services in Singapore ACRA or the Accounting and Corporate Regulatory Authority, the strict regulator of public accounts and corporates in Singapore, is bestowed with the authority to oversee if any company is failing to comply with the law and regulations of the country and to penalise defaulters. This stringent need for statutory compliance…