Enitus tailors numerous service packages for its clients. It is important to maintain timely financial records for Directors to make vital decisions for the business. It is also mandatory to adhere to deadlines for the submission of financial statements to relevant government agencies like Inland Revenue (IRAS) and ACRA. Notwithstanding this, our capable team at Enitus provide routine accounting services to ensure all financial statements are properly drafted.
Enitus Complete Accounting Package
Routine Bookeeping Services
Preparation of timely accounting services on a monthly, quarterly, half-yearly or yearly basis to our clients. General ledger, debtors’ ledger, creditors’ ledger, bank reconciliation, statement of accounts, CPF bookkeeping, salary vouchers among the others will be keep up-to-date and any abnormalities will be duly highlighted.
Companies Act and Income Tax Act necessitate every business establishments in Singapore to prepare their own financial statements. Depending on the type of entities established, certain financial statements required to be audited. Please read our article on type of entities exempted from audit
Proper financial statements consists of:-
- Statement of Financial Position
- Statement of Comprehensive Income
- Statement of Cash Flow
- State of Changes in Equity
- Associating Schedules and Notes to the Statements
Filing of GST returns
Apart from filing financial statements, all GST registered business entities are also required to submit statements of returns to the Inland Revenue on quarterly basis. Submissions are mostly being performed online. Services are rendered to clients on the area of overall & individual segment GST reconciliation, examination of sales invoices versus expenses invoices, online filing of returns, proper classification of GST types and professional advice on GST issues.
Analysis of Financial Performance
Evaluation of financial results is crucial to formulate future direction a company shall pursue. It evaluate the past, present and forecasted performance of the company based on its financials. Our team will perform various types of evaluation, include but not limited to the use of ratio analysis, cash flow analysis, liquidity ratio, turnover ratio, and aging analysis. Armed with all these technical analysis, Directors of the Company can better predict the next course of action to take.
Consolidation of Financial Statements
Companies having a controlling interest in subsidiaries and associates must also compile their financial statements, ie Consolidation or Group Financial Statements. It provides a bird eye’s view of the Group performance of all third party transactions, assets and liabilities.