Accounting

05
Dec

How monthly bookkeeping will help you run your business better - When you are planning to do a good business, there are many things that you need to consider to plan the business that you are able to look after before you can make sure you run it well. There are many components such as the accounts, the marketing, the human resource, the operations , the customer service. There are so many thinsg that you need to work on and this are the things that you should consider outsourcing so that you have time on your hand to allow for your better coordination of the business that you are trying to manage versus trying to do something that you are not familiar with and end up doing too much for too little rewards. The entrepreneur is the one with very little time on their hands, and this is something that everyone is aware of when you start a business. With such short supply of time and being able to make limited business decisions, you are only able to do just a few things at a time. Business wisdom says that you should focus on what ...

03
Nov

Benefits of using Xero Cloud Based Accounting Software for your business - Xero is one of the most popular software in Singapore for accounting work amongst startups. Xero is a new accounting software develop by a company based in Australia with the idea of turning accounting software into something that is highly efficient so that time is saved on doing up bookkeeping work and financial reports can be streamlined for regulatory uses. Xero is popular in Singapore in the recent few years because of its low rates and many features that have been favored by many local companies that are providing accounting and bookkeeping services. There are many benefits that you can get out of using Xero as your primary accounting software for your business and here are some of those that we at Koh Management think will be useful for your decision making: Benefit 1: Xero is a regularly updated software that has integration with many other apps like apple's app store The good thing about Xero is that some of the software ...

02
Nov

Benefits of using Cloud Based Accounting Services in Singapore - Cloud Based Services are becoming very common in Singapore and around the world. With file storage becoming one of the most popular manners of using the cloud for business, businesses such as Windows and Dropbox has made a business model out of providing cloud storage spaces for free to customers and requiring upgrades when the customer reaches a certain level of disk space usage.     Benefit 1: Cloud services allow you to operate from anywhere, anytime Cloud Based Accounting Services are also becoming a more popular form of doing accounting and also preparing of invoices, quotations and receipts. Accounting Software used to be desktop based and the only way of getting anything done is to have invoices issued from the desk of an office but that is not true anymore in this time and age. Businesses are able to tap on new technology like cloud based accounting software to run their businesses from anywhere in the world at any time of the day. The benefits of Cloud services are also that you can use it cross platform, whether it is your phone or your tablet ...

27
Oct

In terms of doing business, Singapore is one of the leading places for the ease of doing business for many years. Why is that so? Singapore has been proud of being able to lead the world with its use of Information technology in setting up companies and also to do transactions with the government. All government submissions are mostly done online and also with the new system of using a corporate password instead of the SINGPASS which is every Singaporean's personal password to work with the government. The country is slowly transforming into a society of the future in terms of the use of Information Technology and also the use of new technology to improve efficiency. That said, the accounting sector in Singapore is one of the oldest industries in Singapore and also one that is very well established. Singapore being a big financial hub for the region and Asia manages a lot of funds. Coupled with the ease of doing business, Singapore has one of the world's largest number of incorporated companies and with this needing a strong army of accountants and auditors to assist in the management of all this local and ...

02
Oct

Singapore Audit Requirements

Singapore Audit Requirements - When you run a company in any country, auditing is normally a must to prove that your business are operating as per what you reported. Listed companies have a legal responsibility to go through auditing. But in Singapore there are various circumstances where you do not need to go through audit. The reason for the government to employ such a move is to reduce business cost to bring in more business to incorporate in Singapore and being the business hub of South East Asia region.   Under the old system, the criteria to get audit exemptions are as follow: Companies below 5 million turnover over the preceding years Less than 20 shareholders No Corporate Shareholders holding shares of company, no matter amount of shares held   As per July 2015, the new system for audit exemption is as per the following rules and you must fit the criteria to be determined as a "small company": Effective of 1st July 2015 with financial years begining on or after 1 July 2015 (those ...

16
Jun

Why you should set up a good accounting system When you are starting up a business, there are many items that you need to find out and also to look into. For the entrepreneur, he doesn't have the support of multiple staff and resources at your disposal. All you have is yourself and also your limited knowledge in almost every other thing. Accounting , Marketing, Human Resource, Sales, Product, you will  need to put your hands into all this component to make sure that you have the best for the business and also for the company to just be working and running so that it will be driving you revenue for you to grow and expand the business. Accounting is one of the key backbones of a good and strong company that is able to perform well and also to do good monitoring of the health of the business. Human health is monitored through whether you will fall sick. A business health cannot be seen from the outside, the best way to find out is to keep good records of your business and to have good accounting health and systems in place to make sure you ...

14
Jul

5 reasons why you should outsource your accounting services Nothing is more important then getting your accounts done up for your business or young startup. Having your accounts in hand is always the best way to ensure that you know what is happening in your business and what you need to watch out for and this is great for the micro manager at the start of the business where profits are not regular and cost is high. Having the details at the tip of your fingers is the best way to make sure you are set on the right directions and to make changes to directions if necessary to make good investments of your funds and to remove yourself from bad ones. Below are 5 good reasons why you should outsource your accounting services: Why outsource reason 1: Cut Cost (which can kill you early) Hiring a full timer would cost you a full timers salary which could be in the thousands, this is not cost effective for a start up even up to at least a $500k turnover before employing a full timer would make sense. This is something that all entrepreneurs need ...

17
Nov

Accounting firm in Tanjong Pagar

Accounting firm in Tanjong Pagar Are you looking for a reliable accounting firm in Tanjong Pagar area? Koh Management Pte Ltd has just completed their move over to Tanjong Pagar and is ready to serve the business community based in this area. We looking forward to working with our clients based in Tanjong Pagar and Shenton Way area. We are located at Tanjong Pagar complex at 7 Keppel Road which is conveniently outside of the CBD area and therefore do not need to incur the additional ERP cost. Located just on the boundary of ERP and accessible to all highways we are able to service almost any company based in Singapore and we are keen to work closely with our customers to achieve high quality services standards that will ensure that you accounts and corporate secretarial needs are covered by our trained accountants. Koh Management Pte Ltd has a strong team of accountants to assist your needs, we also carry out services such as incorporation, corporate secretarial and work with respectable auditors to allow for high quality corporate services to be given to our customer. Customer services is at the core of ...

13
Jul

Tax Benefits of Starting a Business in Singapore When we hear of Singapore, we always think of it as the clean city in the east with many rules set forth by the government. Little did we know that in the span of 40 years, this third world island nation has become one of the richest in the world with per capita GDP as the top 3 in the world. In Singapore there are a few set of tax benefits that not only benefit businesses but also the business owners who may have multiple investments in Assets and this would be good news for those who are looking to either stay here for the long term or even think of settling down in Singapore. We will talk about the business tax benefits first then talk lightly on personal tax benefits. Singapore has NO capital gain tax | Tax Benefits of Starting a Business in Singapore Yes you read it right, Singapore does not have a capital gain tax as the economy encourage the growth of capital. BUT this does not mean a trader in property is exempted. To be exempted from capital gain tax, there are a ...

10
Jul

Accounting Job

Accounting Job in Singapore Hey there! Did you know that Singapore is planning to become an Accounting Hub for South East Asia , Asia and even the world. This is the vision of the  Committee to Develop the Accountancy Sector (CDAS) "An accountancy sector marked by vibrancy and diversity of talent mix; thought leadership; globally recognised programmes for professional education and development; high value-add; and its overall contribution to Singapore’s economy." With this in mind, many changes has been set in place to improve the accounting sector as a whole and also to increase the supply of qualified accountants to cater for this growth. The Certified Public Accountant has been slowly phased out to welcome, the Charted Accounting (CA) Singapore title and there are programmes such as the Singapore Qualifying Programme. SQP hopes to bring in professionals from other sectors into the Accounting sector to help it grow and together with them bring ideas and concepts from other sectors. The Accounting scene has since grew at a tremendous rate and with only about 1000 graduates from the Singapore ...