OUTSOURCED ACCOUNTING SERVICES IN SINGAPORE

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Maximize profit and minimize your related accounting jobs

As a small business owners/ companies, we understand that company objective is to maximize your company profit/ revenue and minimize the office works (such as bookkeeping, accounting, payroll, secretarial, corporate tax and others related services). Companies often outsource their above-mentioned jobs, which in turn help them. JM Management is one of the professional firms in Singapore which assist and design the following 4 in 1 (Bookkeeping, Accounting, unaudited financial statement and taxation) package for newly setup or existing companies.

Our full outsourced accounting services 4 in 1 package is only from $600 per year (only $50 per month).

The yearly one-stop accounting services package includes:

• Compile documentation for bookkeeping records;
• 1 company data file on MYOB include yearly renewal;
• Full set of yearly management accounts;
• Full set of financial statements (unaudited / compilation of annual report);
• Estimated chargeable income (ECI), if required;
• Yearly tax computation, tax schedules, tax returns filings (Form C / C-S) to IRAS;
• Holding Annual General Meeting and filings of Annual Return (AR) to ACRA*;
• Supports through phone call / SMS / Email;
• Monitoring on statutory deadline to your company.

Why Outsource Accounting Services Must Choose JM Management?

• One of the most vital aspects of a company’s success is its efficiency to manage accounting records. Having a proper accounting system in place is what contributes immensely to helping businesses rise. Outsourcing accounting services is the best way to have firms with such credibility to support financial issues in your company.

• JM Management specializes in providing outsource accounting services to various business. Availing assistance from professionals in the field is a reliable way to ensure that such tasks are being conducted by the right team leaving you to focus on other vital aspects of your business.

• The quality services provided by JM Management aids your business with basic bookkeeping to that involves keeping a record of all transactions related to income and expenses. Also, they are able to perform utility bookkeeping to keep accounting records. Financial statements are a crucial part of their service.

• Regardless of the business size, the need to outsource accounting service is important to achieve accuracy in financial statements. Having experts to look at these reports enables you to concentrate on client offerings.

• JM Management services will make sure that all your company accounting is regularly updated. Hence, timely reporting is the best way to attain more revenue for your business.

• Small businesses mostly operate on a budget. Professional accounting will help you avoid spending too much time to manage the finances.

• Not every business can handle accounting software like MYOB, which can be tricky. Unless you know how to operate the software, you might just end up making corrections that is time-consuming.

• JM Management staffs reliable professionals to deliver impeccable results with your accounting. Dependable reports, reliable support and expert customer support including technical help are features that hiring such specialists cater to your business.

Bookkeeping Services

Some small business or foreign branch company would engage us to handle bookkeeping in weekly or monthly basic. Though this way, it can save manpower costs and directors can have more time to focus in their business.

Our staffs can assist you based on your company request and requirement, which includes:

• Prepare payment vouchers,
• Issuing cheque payment,
• generate sales invoicing,
• managing trade debtors or creditors
• Systematic filing,
• Monitoring closely for company cash flows either in weekly or monthly,
• Time to time requested and to meet company requirement.

We are working closely with our clients, including foreign companies, as we know that’s why we work 18 hours daily; to promptly respond to other countries whose time zones do not correlate with Singapore.

Job Reviews That Are Done By Internal Staffs

The government has always encouraged (using the government grant) SMEs to at least have one accounting system to handle their company accounts; if the company wants to do their in-house accounting by their staffs.

Some companies may feel the need to fully utilise their staff and purchase the MYOB accounting system. If your staff has limited knowledge of accounts, you may need someone like us to oversee your staff and ensure that the data entered and other work done complies with the regulations, and are accurate.

Our staffs are experienced and well trained in various industries; we are not only selling the MYOB accounting system, but MYOB is also our in-house accounting system to records all of our client accounts.

With the services that we provide, you have no need to worry about the shortage of account staff to operate your in-house MYOB. We will always assist to do a temporary backup until you hire the replacement staff or you can entrust the job to our external accountant services. We understand that hiring a suitable staff member is not an easy job.

If you have not purchased any accounting system and interested to have one: you may either directly contact us for further information.

Clearing of Backlog Accounting

The main emphasis for all entrepreneurs is to sell and operate their businesses. Hence, they rarely find time towards focusing on the administrative, accounting (besides taxation) areas of their companies. Over a span of time, these companies start accumulating uncompleted accounts which slowly become backlogs.

JM Management can represent our client companies to liaise with ACRA and IRAS for their Backlog Accounts. This covers companies who have not accomplished their accounts, not submitted Annual Returns and, similarly, not reported their Income Tax Return, such as Form C, for a couple of years. These companies might also have heavy penalties imposed upon them from the said authorities.  In certain cases, we had been in charge of seeking understanding from concerned authorities resulting in the waiving of some fines.  Our services include:

1. Clearing and closing backlog accounts annually;

2. Delivering yearly management accounts, besides preparing the accounts to comply with the requirements of the Singapore Accounting Standards. These annual management accounts include,

• Report on Aging of Accounts for both creditors and debtors;
• Journal entries and comparison previous period with explanation;
• Bank Reconciliation Statement;
• General Ledger;
• Register of Fixed Assets;
• Balance Sheet;
• Profit and Loss Statement;
• Related schedules;
• and all similar required reports

3. Preparing the annual Compilation Financial Statements subsequent to the closing of backlog accounts;

4. Making Annual Return in a 12-months period to be submitted to ACRA;

5. Fixing Corporate Tax Computation, as well as related taxation schedules; and

6. Completing annual Form C / C-S & Appendixes for compliance to IRAS.

Moreover, client companies have enjoyed a great benefit from us in terms of cost for work rendered in an effective way. Our service packages are definitely competitive, considering the scope of work that must be completed. Likewise, we are equipped with competent, skilled personnel, to provide and fulfil, all requirements; as well as compliance with concerned authorities.

With JM Management, entrepreneurs can stand assured that their backlog accounting issues will be addressed appropriately.  Through our years of service with many companies, we have established a good reputation when it comes to clearing backlog accounting and tidying bookkeeping.