ADVANTAGES OF ACCOUNTING SOFTWARE

Social security or Central Provident Fund (CPF) contributions are compulsory for Singapore citizens and permanent residents who are working in Singapore. Foreign persons working in Singapore are not qualified for the CPF scheme. The Central Provident Fund (CPF) is a compulsory savings plan for employees in Singapore. It funds a range of social security schemes, including retirement, healthcare and housing, and is maintained by the CPF Board. Under the Scheme, the employer and employee are required to make monthly offerings at the existing contribution rates which depend upon the wage and age group of the employee. Both are required to make CPF contribution on the employee’s Ordinary Wage and Additional Wage subject to an Annual Wage Ceiling. Prior to 1 January 2016, the wage cap for Ordinary Wage is SGD5,000 per month while the Annual Wage Ceiling is SGD85,000. From 1 January 2016, the wage cap for the Ordinary Wage is revised to SGD6,000 per month while the revised Annual ...

Singapore tax policy is excellent, and this is why the country is often regarded as the tax haven. Factors like low and competitive tax rates, exemption schemes and a series of tax incentives make the nation more attractive for the foreign investors. Most prominently, the government of the country liberalized the Singapore taxation rules on foreign sourced income. As per the Singapore Tax Act, Section 10(1), the Singapore corporate tax is levied on the income earned from Singapore or received in Singapore from outside the country. Specifically, income earned outside Singapore is subject to taxation in Singapore. However, some exceptions are there. Foreign sourced income is only taxable if it has an office or branch in Singapore. Under the Section 10 (25) of Singapore Tax Act, foreign-sourced income is taxed only when the income is received in Singapore in following ways: The income that is transferred, remitted or brought into Singapore Any amount of income received from ...

Once you decided to register company in Singapore, it is essential that you know the type of business entity that you want to incorporate. Your decision can influence the amount you pay in taxes , the image and insight of your business among your clients and suppliers, formalities for your business is required to do, the personal accountability you face, the ability to have a loan of money, and the possibility to expand your business. 1. Limited Liability Company A Limited Liability Company (LLC) is a company limited by shares i.e. its liabilities are limited to the amount of share capital. LLC is a business entity registered under the Singapore Companies Act and a separate legal entity from its members. In a LLC, the liabilities of the owners are limited to the assets in the company and their individual assets are protected from business liabilities. A Singapore LLC can be of the following types: Private Limited Company (Pte. Ltd.): This type of LLC is a first choice for a...

Singapore Accounting Software aims to simplify business management system, in order to that they develop an inventory software.  It is designed to be as intuitive to use as possible, so after a speedy installation, you’ll be well organized your inventory processes within minutes. The UBS inventory software made by Singapore Accounting Software has the following powerful tools and functions which helps management greatly in their daily operation function. Different level of data access security Real-time update of stock item Multi-currency transactions, Multi-location reporting Multi-delivery order to 1 invoice Assembly of Bill of Materials Detail B.O.M Reporting Multi-Users, company, delivery address Accurate costing method Unlimited formula for stock computation Serial number tracking Forecast quantity of items Multi-level of quick and fast search function of inventory Inventory Profit margin reporting, Inventory aging report Backorder inventory Multi-l...

Depending on the type of operations, accounting & finance systems fall under four different categories. There are also wide-ranging accountings suites designed for enterprises that combine the finest features of every category. Here is a brief summary: Payroll management systems If looking to protect control over your account payables and account receivables, you must be looking for payroll management systems that will handle it all. These tools were developed to carry out a collection of different tasks, as well as calculating employees’ salaries, cutting deductions, depositing the salary directly into staff members’ bank accounts, producing tax forms, payslips and more. On the long run, they will make safe your financial transactions, cut expenses, and help set up detailed reports. Billing & Invoicing systems Billing and invoicing systems absolute companies’ basic, day-to-day tasks, including check writing and informing customers of their due payments. They ...

Singapore accounting software provides our customers with a superfluity of world-class Singapore accounting software.  Our MYOB accounting software and other brands of accounting software in Singapore facilitates speedy sales processing whereas our Sage_Ubs accounting software offers easy features and ensures great flexibility. As your top accounting solutions provider, we strive to offer the highest quality service to maintain competitive advantage. These are the basic elements we consider while designing our accounting software for your business: Cost Ease of use Timesaving features Reporting capabilities Mobile access and mobile features Accountant access Service limitations, including the number of customers, invoices, users, transactions packages allow Customer service Additional services like credit card processing, tax preparation and payroll services Integration with third-party apps 

Have you prepared a new year’s resolution for your business? Finance is the focus at the start of the year and there is all sort of software to assist you to get your organization in order. Whether you’re determined to sort your expenses, rationalize your invoice or begin tracking your mileage, there’s a tailor-made resolution out there. But with so many options, it can be hard to find the product that makes the most sense for you. Flexibility is one of the perks of working for you, so select accounting software that supports this. An excellent package should make it simple to email estimates or invoices when you’re on the go, using templates you can modify. If you have got several clients or various projects make sure you have access to a time tracking feature. There are plenty of reasons to choose online accounting solutions instead of desktop packages. Singapore Accounting Software is the one-stop destination for all your business accounting needs and requirement...