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Singapore Monthly Bookkeeping Services and the benefits of it

Singapore Monthly Bookkeeping Services and the benefits of it – Running a business is a very tough thing to do for anyone who is trying to start up. There are so many things that you have to watch out for there are so many nitty gritty items that you have to care about. It seems like everyday you are drowning trying to just get your business trying to move a step forward. It is not easy for someone who has barely any experience in running a business to keep making progress in growing a business and this is one of the few things in life where you do not really have a chance to learn and work from. You can get a mentor who will be able to guide you in some of the pitfalls and some of the things that you can look at.

Singapore Monthly Bookkeeping Services and the benefits of it

So what are some of the best things that you should have to work with someone else to get settled. Lawyers are an important part of your arsenal of professionals whom you can work with closely and able to deliver high quality advice for you especially during the early days of your starting up. Having a good lawyer also means that you contracts are done up properly. This is important for the businesses that want to avoid getting into shareholder arguments and quarrels when the business grows. The lawyer is also an important person to review contracts when it comes to fund raising. The lawyer is also a good ally when it comes to working things out for the long term, knowing the law is definitely an important part to the business.

The next important ally that you need for the business is your accountant. They say you need a right hand and also a left hand man when it comes to business. The right hand and left hand man are definitely your lawyers and your accountants. Why are your accountants important for the growth and longevity of your business you might ask. There are many things that an accountant can help you to manage for your business. Many people see their accountants as just a person that will settle the paperwork that needs to be submitted to the government and then they are just there to get this portion of work done for them and that’s it. Without realizing that the importance of the accountant is not just someone who is just good at pushing paper work but at the same time he or she is also an advisor to you on how to cut cost on your operations. Someone who can also guide you on how to maximize your profits by making certain arrangements. There are also other customers that they have that might be in the same trade and there are many cost cutting measure that they can share with you that they have learn from the rest.

Business is not something that you should do in isolation. When you run a business in isolation, you end up having very little to learn from. You will end up making a lot of mistakes that you can clearly avoid and this is not good for someone who is just starting up because you will end up paying the price for all the mistakes and fail before you can even make an impact in this market. There are many things that can be learnt from your accountant if you want to avoid dying prematurely in this ultra competitive business market.

So how does having your monthly accounting services done help you to grow faster and what are the benefits of doing it?

Firstly, when it comes to doing monthly bookkeeping services, there are many things that can get missing if you don’t file them up properly and do not work on them on a regular basis. Books that are kept for more than a few months tend to get missing and that petty cash amount that you did not account for? There is a high chance that things are going to be messed up and therefore you will not be sure what had happened in the past. This is one thing that many people do not realize about the importance of getting your monthly bookkeeping services done up. By having it done monthly, you have documents sorted out with discipline. You will also know that you need to get it done so that your accountants can get the work done up as soon as possible for you to review the management accounts. This forces you to make sure documents are in place so that your accountants are able to work on it fast.

Secondly, when it comes to monthly bookkeeping services, you get to receive you monthly bookkeeping management accounts that will help you with your decision making purposes. The good thing about having someone who is able to deliver the work to you every month helps you to run your business at a manner where you are able to find out how you are doing in terms of profits and losses and this is one of the best thing that can happen to an entrepreneur who wants to know if he or she is making a good business decision and if he or she is on the right path when running their start up business. This is important for people who are working to set themselves on a path of success. We all know that information is important for decision making and it is also important to know how to make changes to the business. The monthly information updates and meetings will go a long way to bring success to your business.

Thirdly, monthly bookkeeping services allows you to show the world that you have everything in place. Many people do not realize this but having tidy books is the same as having a tidy life. This will impress the potential investor who will want to take a look at your numbers and being able to deliver them straight to your investor is important and this makes for a good first impression. Instead of rushing your accountants to get it done when they are demanded, you can forward it straight away. This goes far to show your investors or suppliers that you are reliable and in control of the situation. When you are in control you know you are able to make the demands and set the requirements for other people to follow your dreams and for others to follow what you set for them. Not the other way around.

 


K Cloud Accounting Pte Ltd is a Singapore based Xero Accounting Singapore company. We deliver monthly accounting services for our clients and the packages are split based on the volume of work that you have for that particular month. We are a full-suite services company that includes bookkeeping, financial report compiling, taxation and corporate secretarial services for the needs of all startups.

Contact us if you are keen to find out more and we can schedule a meet up to find out your requirements and assist you in your business needs for a successful business.

Singapore Monthly Bookkeeping Services and the benefits of it

4 reasons to have a professional corporate secretary for your Singapore Company

4 reasons why you should have a professional corporate secretary for your Singapore Company – Every company requires a few set of key office holders. You will require the director of the company that will be making executive decisions and also run the day to day work of the business. There is also the shareholders who usually are the one funding the business and also own the business as it is running. They will in turn appoint the directors that will be in charge of running the business.

Director’s work closely to deliver results for the betterment of the shareholders equity and therefore receive a salary or bonus.

There is also another set of company officials that are important to the running of the business and also the best to advise on the methods of running it. The corporate secretary is a key person in the running of your private limited company and making sure a few things are done right before you go ahead with either growing or selling your business. Let us share with you the 5 reasons why you should have a professional corporate secretary for your Singapore Company.

1. The corporate secretary ensures your corporate governance is done right

For most business owners that are first time starting up, you will have no idea what are some of the key concerns that you might have when it comes to corporate governance. Corporate governance might not be that much of a concern at birth of the company or when you are not funded by someone else. But once the business starts to mature and when other parties start to join the company, the differences in having a good corporate secretary versus not having one can be very clear.

Corporate governance also ensures timelines are met, there are many legal timelines to follow to make sure the meetings are in effect and an experienced corporate secretary will be a good person to have when you as an entrepreneur is not too familiar with such legal timelines.

2. Deadline reminders for busy business people

When you are busy running your business, you might miss timelines such as your AGM and tax submission dates. The good thing about having someone who is ready to remind you will outweigh many things. The corporate secretary of a company receives reminders as well and usually have a system to keep track of all the deadlines of their customers. With a good system in place, they will be able to alert you when the time is up to submit your annual return, do your AGM and make sure you do not miss any of them that might incur you late fees.

For most people who receive emails and forget them, this service will be great from the corporate secretarial services provider.

3. Advise you on legality of actions

Timelines and dates are very important in a legal document. If you need to give notice for a meeting to be effective, you need to give that notice.

The Corporate Secretary is well versed in this time lines and will be the best to advice how to make sure all processes are done legally.

Whether someone can or cannot appear at a meeting is also important, the corporate secretary will be able to give guidance when such disagreements appear.

4. Neutral person when there are arguments

Most businesses have multiple partners and directors. As a corporate secretary, you are suppose to be a neutral party in any discussions.

The corporate secretary will be able to give a fair opinion for the directors and shareholders to make decisions that will allow the best for the company and also for the shareholders.

The corporate secretary will also have to take the side of the company and not any of the members of the shareholder and directors.

 


K Cloud Accounting provides high quality corporate secretarial services in Singapore for Singapore startups and SMEs.

Contact us to find out how to work with us today!

4 reasons why you should have a professional corporate secretary for your Singapore Company

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