Efficient bookkeeping can save you money
Bookkeeping is at the heart of accounting. Recording all financial transactions by a certain company is the main activity of a bookkeeper. There is a common misconception about the relationship between accounting and bookkeeping. They are not the same thing, since accounting is a broader activity. At Terra Advisory, our experienced accountants we provide effective bookkeeping solutions for companies.
Great bookkeeping helps businesses stay organized, profitable and under control. Companies offering great products or services are going to fail if they fail the financial management side of the business.
Financial analysis is what allows entrepreneurs to answer crucial questions. Is the business we are talking about on sound financial ground? Is there any potential source of risk?
Working with a chartered accountant for your Singapore-based company makes your life easier because you do not have to fight with complex software systems and you can save a lot of time and troubles. Good records are necessary for a number of reasons:
- Income tax returns preparation
- Monitoring for decision-making
- Obtaining bank financing
- Budgeting
- Distributing profits to partners
- Complying with tax rules
Here’s what you get when you use our outsourced bookkeeping services:
- Reconciliation of your bank statements with your internal financial records
- Reconciliation of any credit card statements sent out to customers with your internal records
- Reconciliation of your General Ledger with vendor and buyer invoices
- Credit control services that help you monitor your customers’ accounts for any late payments – facilitates follow-up activities to recover overdue payments and improves your cash flow
- Inter Company reconciliations
- Year End Reconciliations