Accounting Services

You can be assured of proper keeping of your books without having the need to worry. Let us take care of it.

Your handly Accountant

We handle everything.

We are always available.

  • Accounting/book keeping services on monthly / quarterly / half-yearly / yearly basis
  • Bank reconciliation
  • Preparation of management accounts (Balance sheet, Income statement)
  • Preparation of sub-ledger listings (Fixed Asset / Accounts Payable / Accounts Receivable)
  • Preparation of schedules for audit purpose

Handled by experts

A professional Chartered Accountant will hanldle your books, help receive reliefs and exemptions, compile reports and file them on time

No more DIYs

Avoid ‘Do It Yourself’ scenarios and limit your errors and risks. We take care of that for you.

Accounting Package plans

Engage our professional accounting services to save your headache.

Simple

$ 350 per year
  • Less than 25 invoices

Regular

$ 600 per year
  • 25 to 50 invoices

Complex

$ 800 per year
  • More than 50 invoices and above (Add $200 per block of 20 invoices onwards)

Unaudited FS

$ 500+ per year
  • Compilation of unaudited financial statement **

**Note: Additional fees may be charged upon if the degree of technical difficulty required is more than initially expected

Accounting Guide

Beginning of Period Processing

Verify that all transactions for reversing entries in preceding periods have actually been reversed. This ensures that transactions are not recorded twice in the current period. Transactions are usually flagged as being reversing entries in the accounting software, so the reversal is automatic. Nonetheless, examine the accounts at the beginning of the period to check and verify the reversals. If a reversing flag was not set, an entry must be reversed manually, using a new journal entry.

Individual Transactions

The steps required for individual transactions in the accounting process are: 

  1. Identify the transaction. First, determine what kind of transaction it may be. 
  2. Prepare document. There is frequently a business document to be prepared or recognized to initiate the transaction. 
  3. Identify accounts. Every business transaction is recorded in an account in the accounting database, such as revenue, expense, asset, liability, or stockholders’ equity account. Identify which accounts are to be used to record the transaction. 
  4. Record the transaction. Enter the transaction in the accounting system. This is done either with a journal entry or an online standard transaction form. These are part of the accounting process used to record individual business transactions in the accounting records.
Period-End Processing

The last steps in the accounting process are used to aggregate all of the information created in the preceding steps and present it in the format of financial statements.

  1. The first steps are to Prepare a trial balance. The trial balance is a listing of the ending balances in every account. The total of all the debts in the trial balance should equal the total of all the credits; if not, there was an error in the entry of the original transactions that must be found and corrected. 
  2. Adjust the trial balance. It is compulsory to adjust the trial balance, either to correct errors or to accrue for revenues or expenses in the period. 
  3. Prepare an adjusted trial balance. This is the original trial balance, plus or minus all adjustments subsequently made.
  4. Next, Prepare financial statements. Create the financial statements from the adjusted trial balance. The shareholders’ equity, asset, liability line items form the balance sheet, while the revenue expense line items form the income statement.
  5. Finally, Close the period. It is shifting the balances in the revenue and expense accounts into the retained earnings account, leaving them empty and ready to receive transactions for the next accounting period.
  6. Remember to prepare a post-closing trial balance. This version of the trial balance should have zero account balances for all revenue and expense accounts.
 
What are the important deadlines?
  • Financial Year End (FYE) – You choose any date like March 31st
  • Estimated Chargeable Income  – 3 months after FYE 
  • The Annual Tax Returns – November 30th Year after FYE