Starting January 1, 2007, all Singapore companies are obligated to preserve their business records and accounts for a minimum of 5 years. This includes maintaining accurate financial records, source documents, accounting records, bank statements, and any other relevant transaction records.
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Bookkeeping Services for Small Medium Enterprises (SMEs), Start-Ups and Multi-National Companies (MNCs)
Maximize the success of your business by prioritizing accurate financial information, regardless of size. Outsource bookkeeping and paperwork management to a reliable accounting firm to save time and focus on core business operations. Ensure the precision of your financial data with the help of top-notch accounting services.
How Can Aura Partners Simplify Your Paperwork and Bookkeeping?
Our comprehensive bookkeeping services cater to the specific needs of each client. Our team of seasoned accountants offer personalized advice on accounting practices, train your employees on proper bookkeeping procedures, and assist in setting up efficient internal controls.
Our Singapore bookkeeping services include precise record-keeping of daily financial transactions, including purchases, receipts, sales, and payments, using accounting software like Xero, through a general ledger or journal.
Our bookkeeping produces reliable data on your company's operations and our certified accountants examine the information to create financial statements, balance sheets, analysis, tax returns, and other reporting documents that comply with Singapore tax regulations.
Our reports offer valuable insights for forecasting, tracking business trends, securing bank loans, accessing government grants, identifying growth opportunities, and effectively managing cash flow.
With our Xero software, we are a one-stop shop for all your accounting matters. You can take control of your business, have clarity on your numbers and make quick decisions to grow your business.
Personalised Attention to your Bookkeeping Need
Our comprehensive bookkeeping services cater to businesses of all sizes and offer flexible options, including monthly, quarterly, semi-annual, and annual accounting. Utilizing the latest Xero software, we provide the following accurate and detailed management reports to ensure seamless record-keeping:
- Income Statements /Profit and Loss Accounts
- Balance Sheet/Statements of financial position
- Trade Creditors/Payable Ledger
- Trade Debtors/Receivable Ledger
- Bank Reconciliation
- Trial Balance
- General Ledgers
The following documentation require for bookkeeping :
- Sales invoices (paid/ unpaid)
- Purchase invoices (paid/ unpaid)
- Payment vouchers
- Petty cash listing supported with invoices
- Cheque butts
- Monthly Bank statements
- Journal vouchers
- Payroll summary / listing / payslips
- Tenancy agreement / Landlord invoices
- Inventory listing
- Bank loan statements / hire purchase statements
- Other agreements / documents to support your transactions
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Frequently Asked Questions About Bookkeeping Services
We provide a comprehensive and full spectrum of bookkeeping services using cloud-based software. Our fee starts at as low as S$100 per month and is very affordable for our clients.
On a day-to-day basis, Bookkeepers complete data entry, collect transactions, track debits and maintain and monitor financial records. They also pay invoices, complete payroll, file tax returns and even maintain office supplies.
While no qualifications are needed to become a Bookkeeper, bookkeeping is something you either have to learn or outsource when you're running a business, as you'll be responsible for recording and collating all the company’s financial records.
For your business to run smoothly, ideally, you need a bookkeeper and accountant.The bookkeeper will look after the day-to-day work while the accountant handles the official reporting and high-level business advice.
The single-entry and double-entry bookkeeping systems are the two methods commonly used. While each has its advantages and disadvantages, the business must choose the one which is most suitable for their business.
- Monthly Bank Statements
- Sales Invoices / Records
- Credit Note Records
- Purchase Receipts and Documentation
- Business expense records
- Stock or Inventory Records
- Payroll Records
- Income records
- CPF Records
- Fixed Assets Records
Companies incorporated in Singapore are all mandated to keep accounts and records properly. Failure to have proper bookkeeping merits corresponding penalties, as businesses are required by law for taxation purposes. Besides the legal requirement, good bookkeeping offers practical business benefits.