At RMS, we provide a comprehensive range of accounting services from advising you on how to properly maintain your accounting records for a minimum of 5 years (required under the Income Tax Act), to acting as your in-house accountant using computerized system. Although our colleagues may not have to be present in your office, they can undertake all functions like any in-house accountant recruited by yourself.
If you wish to understand your company’s financial information timely or if you are a GST registered company, you may like to consider our monthly, quarterly or half yearly accounting services which show the most up-to-date information for decision making or submission to Inland Revenue Authority of Singapore (IRAS) for a GST trader.
However, if your business initially has relatively low transactions, we might suggest you upkeep your accounts on a yearly basis when your company‘s financial year has drawn to a close/ended.
As one of our key accounting services, book-keeping has provided our clients the most crucial management reports for their decision making. These management reports include:
- Income Statement
- Balance Sheet Statement
- Accounts Receivable
- Accounts Payable
- Cash Flow Statement
- General Ledger
- Bank Reconciliation
- Fixed Assets Listing
Other than the book-keeping, we also help clients to prepare Financial Reports (a profit and loss accounts and balance sheet together with notes to the accounts giving a true and fair view of the state of affairs of the company) at the end of the financial year. These reports are prepared in compliance with statutory requirement and used for submission to government bodies such as Accounting and Corporate Regulatory Authority (ACRA) for Annual Return and to IRAS for tax purpose.
How it works
When you have confirmed our accounting service, our admin people will work proactively with you to get in your original documents (bank statements, sales orders, purchase orders, expense notes, etc) . A professional accounting personnel will be assigned to work on your accounts later on and formulate the management reports for your approval. Once you have approved them, we will proceed to the non-audited Financial Reports in accordance with the Financial Reporting Standards (FRS) for statutory submissions.
If your accounts need to be audited, director(s) need(s) to appoint an auditor to proceed further on an audited Financial Reports and again, our corporate secretary will be most willingly to assist you on the appointment of auditor.