Do You Want to Cut Unnecessary Expenses With No Effort?
Outsourced Bookkeeping Is the Key.
Hiring dozens of accountants to keep track of your finances is a pain in the… wallet. Nowadays, there is a much simpler solution. Outsourcing.
How does it work?
Easy. You choose between our inbound (at our office) or outbound (at your office) bookkeeping services and we take care of the rest. We keep your accounts at your office or ours. You decide how it’s more convenient to you. Read our success stories here to learn more.
|Inbound (at our office)||Outbound (at your office)|
|We keep and manage your accounts at our office using our software – Xero or MYOB||We keep and manage your accounts from the comfort of your office. Easy & convenient. We can use your Accounting Software or ours|
|You must send us the physical documents or upload the copies to a secured cloud storage account like Dropbox, Google Drive, Box Sync||No need to send any documents anywhere|
|Less accounting & simple transactions (5 pages of bank statements per month)||More accounting & complex transactions (More than 5 pages of bank statements per month)|
|Less talking required. Communication via phone/email is enough||More communication required. So more face-to-face talking|
|Perfect for small business and startups||Perfect for medium/large business|
|Bookkeeping done on a Monthly/Quarterly/Yearly basis||Bookkeeping done on a Weekly basis|
- Maintenance of accounting records
- Sorting, coding and classification of underlying records
- Recording of transaction into the accounting software
- Maintenance of general ledger, general journal, sales and purchases
- Maintenance of fixed assets register & accounting schedules
- Review and/or bank, account receivables & payables reconciliation
- Goods & Services Tax (GST) accounting and reporting
Accounting related/Administration works
- Payment process management
- Raising of sales invoices
- Raising of credit and debit note
- Sending statement of accounts and reminders to trade receivables
You don’t want to miss anything important. Neither do we. So we’d be so excited if you keep the following documents:
- Buy orders/invoices
- Sell orders/invoices
- Bank statements
- Payment vouchers
- Journal vouchers
- Payroll summary
- Tenancy agreement/invoices
- Fixed asset register
- Inventory listing
- Statement of borrowing/hire purchases
- Schedule for monitoring revenue generated and expenses paid during the year
- Debtor and creditor control (unpaid or un-receipted invoices)
You don’t get something? It’s alright. We’ll make sure you will. We are always there to help you understand everything about your accounting reports.
Information gathered from bookkeeping is even more useful than you think. We use it to create several other important reports.
Why are they important? They make financial management easier, which leads to better business decisions
Here are some of these golden nuggets:
- Income statement
- Balance sheet
- Cash flow statement
- Fixed assets registers
- Bank reconciliation report
- Debtors and Creditor aging report
(and a few others)
With Xero, you can view and share over 40 interactive reports and budgets in real time. No waiting for month’s end to see how your business is performing. Download some Xero Reports samples to understand what we mean here. ->(page with Xero Reports samples ready to download)
How our Bookkeeping Process works?
We set up a secure Dropbox, Google Drive or other cloud storage account where you can send all relevant documents and information (Sales & Purchases Invoices, Payment Vouchers, Receipts, Bank Statements, Salary Slips, CPF Statements etc…) on a daily, weekly or monthly basis as agreed in advance.
We analyze the information you provided in the cloud account to ensure nothing is missing. If anything is missing we will ask you about it. At the same time we are ready to answer any questions you might have.
Once we get all the information, we update your books using Xero or MYOB or any other accounting software as agreed.
You get user access right to our cloud accounting software – Xero. That means 24/7 access to real-time data about your accounts.
Or, we email the financial report to you after we complete your bookkeeping. We will also answer any questions that might arise and prepare any customized reports if you need them.
Bookkeeping Only (Monthly or Yearly)
Yearly BookkeepingIdeal for those who don't rely on bookkeeping in evaluating business performance and to meet statutory compliance only.
You can always update to the above monthly package as and when required.
Up to 60 transactions
Up to 150 receipts
Up to 120 transactions
Up to 250 receipts
Up to 150 transactions
Up to 350 receipts
Monthly BookkeepingIdeal for those who evaluate business performance on regular basis but do not need the unaudited report and tax services.
You can always update to the above Yearly package as and when required.
Up to 20 transactions per month
Up to 30 receipts per month
Up to 40 transactions per month
Up to 80 receipts per month
Up to 100 transactions per month
Up to 130 receipts per month
Transactions means the number of line items in your corporate bank statements.
One withdrawal = One line item = One transaction
One Deposit = One line item = One transaction
For example, it you have 5 withdrawals and 5 deposits for a month, the number of transactions will be counted as 10 transactions.
Receipts are business related spending and staff claims to be reimbursed to your employee.
For example, your employee bought Bakwa as CNY gifts to client and took a Grab to deliver to client. The Grab fare and Bakwa will be counted as 2 Receipts.
Small Business Accounting