We provide the following Singapore Monthly/Quarterly/Yearly
SME Accounting services / Start-up Bookkeeping services:

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• Setting up computerized / online (depending on your needs) and proper accounting systems using high quality accounting software

• Preparation of compilation report for filing of Annual Return to ACRA

• Bank and other account reconciliation

• Liaising with auditors to get your accounts audited (if required)

• Perform account-related administrative services (Purchases and Payments;  Sales and receipts)

• Keeping full sets accounts on monthly, quarterly or yearly basis including:​

  •     Profit and Loss Statement

  •    Trial Balance

  •    Bank Reconciliation

  •    Fixed Asset Schedule

  •    Debtor Ageing List

  •    Creditor Ageing List

  •    Supporting Schedules for Compilation or Audit Reports purpose

•     Balance Sheet

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CALL +65 98638665 if you need a quote or Email Tommyksh@shkoh.com.sg

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What is Accounting?

 

The practice of accounting is essential to any business or organization. Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions. The results of these activities are reported in financial statements.

 

There are many different types of accounting, but the three most common are financial accounting, managerial accounting, and tax accounting. Financial accounting focuses on the financial statements that are prepared for external users, such as shareholders and creditors. Managerial accounting provides information that is useful to internal users, such as managers and executives. Tax accounting focuses on the preparation of tax returns and the calculation of taxes payable.

 

Accounting is a vital function in any business or organization because it provides accurate and timely financial information that is used in making decisions about where to allocate resources. It also helps businesses and organizations track their progress and performance over time.

 

What is Bookkeeping?

 

Bookkeeping is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions. The results of these activities are reported in financial statements. This work can be done by Singapore Bookkeeping firms like Koh Management.

 

Bookkeeping is a vital function in any business or organization because it provides accurate and timely financial information that is used in making decisions about where to allocate resources. It also helps businesses and organizations track their progress and performance over time.

 

What is Financial Accounting?

 

Financial accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions. The results of these activities are reported in financial statements.

 

Financial accounting is a vital function in any business or organization because it provides accurate and timely financial information that is used in making decisions about where to allocate resources. It also helps businesses and organizations track their progress and performance over time.

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Koh Management has almost 40 years of experience helping Singapore companies with their Singapore Affordable Bookkeeping Services and Singapore Affordable Accounting Services. For those who wish to outsource their accounting services, you can speak to us at +65 98638665

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Frequently Asked Questions

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General Questions
 

1. What accounting services do you offer?
    

   • We offer a comprehensive range of accounting services including bookkeeping, tax preparation and planning, payroll processing, financial consulting, and business advisory services. Our team is experienced in handling the financial needs of businesses of all sizes across various industries.

2. How long have you been in business?
    

   • Our firm has been providing exceptional accounting services for over 39 years. We pride ourselves on our wealth of experience and our commitment to helping our clients achieve their financial goals.
      

3. What industries do you specialize in?
    

   • We have extensive experience working with clients in the retail, healthcare, technology, and manufacturing sectors. Our specialization in these industries allows us to provide tailored advice and solutions to meet the unique financial challenges and opportunities they present.
      

Client Onboarding and Service Process
 

1. How do I get started with your services?
    

   • Getting started is easy! Simply contact us to schedule a free initial consultation. During this meeting, we will discuss your business’s financial needs, answer any questions you may have, and outline the next steps to begin our partnership.
      

2. What documents do I need to provide?
    

   • The documents required will depend on the services you need. Generally, we may ask for financial statements, previous tax returns, payroll records, and other relevant financial documents. We will provide a comprehensive checklist to ensure you know exactly what is needed.
     
      

3. How do you ensure the security and confidentiality of my financial information?

   • We take the security and confidentiality of your financial information very seriously. Our firm employs robust security measures including encryption, secure file transfer methods, and strict access controls to protect your data.
      

Pricing and Payment
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1. What payment methods do you accept?

   • We accept a variety of payment methods including credit cards, bank transfers, and cheques. We aim to make your accounting & bookkeeping services affordable for our clients.
      

2. Is the initial consultation free?
    

   • Yes, we offer a free initial consultation to discuss your business’s financial needs and determine how our services can best assist you.
      

Communication and Support
 

1. How often will we communicate about my financial situation?
    

   • We believe in maintaining open and regular communication with our clients. You can expect monthly updates, quarterly reviews, and annual planning sessions, as well as timely responses to any inquiries you may have.

2. What is the best way to contact you?
    

   • You can reach us via phone, email, or through our website’s contact form. Our team is dedicated to providing prompt and attentive service.
      

3. Do you offer any online tools or resources for clients?

   • Yes, we offer a secure client portal where you can access your financial documents, track your business’s performance, and communicate with our team securely.
      

4. Where is Koh Management based? 

   • Koh Management is based in Midview City, Sin Ming. Our address is 18 Sin Ming Lane, #07-01 Singapore 573960. If you need an affordable Accountant/Bookkeeper in Midview City, you can speak to us as well.​

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What to watch out for in a good Bookkeeping work done?

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Good bookkeeping is essential for the financial health and success of any business. Here are some key things to watch out for when maintaining good bookkeeping practices:
 

1. Accuracy: Ensure that all financial transactions are recorded accurately. Mistakes in data entry, arithmetic errors, or transposition errors can lead to significant financial problems.

2. Organization: Maintain a well-organized system for storing and categorizing financial documents, such as receipts, invoices, and bank statements. This makes it easier to locate and reference information when needed.

3. Timeliness: Record financial transactions in a timely manner. Delayed entries can lead to confusion, missed payments, or errors in financial reporting.

4. Separation of Business and Personal Expenses: Keep business and personal finances separate. Mixing personal and business expenses can lead to complications when calculating profits, taxes, and deductions.

5. Bank Reconciliation: Regularly reconcile your bank statements with your accounting records to ensure that they match. Reconciliation helps identify discrepancies and errors.

6. Documentation: Maintain supporting documentation for all financial transactions. This includes invoices, receipts, contracts, and any other relevant paperwork. Proper documentation is essential for audits and tax compliance.

7. Categories and Chart of Accounts: Use a consistent and well-organized chart of accounts to categorize income and expenses. This helps with financial analysis, budgeting, and tax reporting.

8. Regular Review: Review your financial records regularly, preferably on a monthly basis. This allows you to spot errors or inconsistencies early and make necessary adjustments.

9. Data Security: Protect your financial data from unauthorized access. Use secure accounting software and limit access to sensitive financial information to authorized personnel.

10. Compliance: Stay updated with relevant tax laws and regulations in your jurisdiction. Ensure that your bookkeeping practices comply with these rules to avoid penalties and legal issues.

11. Reconciliation of Accounts: Reconcile all accounts, including bank accounts, credit card accounts, and accounts receivable and payable, to ensure that they are accurate and up to date.

12. Financial Reporting: Generate financial statements, such as profit and loss statements and balance sheets, regularly. These reports provide valuable insights into your business's financial health.

13. Budgeting: Develop and maintain a budget to plan for future expenses and revenue. Compare your actual financial results to your budget to assess performance.

14. Audit Trail: Keep a clear audit trail of all financial transactions, including who authorized and recorded them. This helps with accountability and transparency.

15. Professional Help: Consider hiring a qualified bookkeeper or accountant to assist with your bookkeeping tasks. They can provide expertise, ensure compliance, and offer valuable financial advice.

16. Software and Technology: Utilize accounting software and technology to streamline bookkeeping processes, reduce manual errors, and enhance efficiency.
     

By paying attention to these aspects of good bookkeeping, you can maintain accurate financial records, make informed business decisions, and ensure compliance with tax and regulatory requirements. Good bookkeeping is a fundamental aspect of successful financial management for any organization.

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If you require your accounting or bookkeeping services done monthly, quarterly or yearly, do speak to us and find out more.

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