Running a successful business involves more than just managing products and customers; it also requires effective financial management. One crucial aspect of financial management is choosing the right accounting model for your business. In this article, we will explore two primary accounting models – Cash Accounting and Accrual Accounting – and discuss their benefits. Additionally,
What is E-commerce Accounting? E-commerce accounting is the process of tracking and managing financial transactions related to online business activities. It involves recording sales, expenses, and other financial data to gain insights into the financial performance of an e-commerce business. The goal is to maintain accurate records for tax compliance, financial reporting, and strategic decision-making.
In the fast-paced financial landscape of Singapore, finding a proficient accountant is pivotal to your financial success. This article outlines ten vital considerations to help you secure an accountant who aligns with your needs and goals. How an Accountant Can Help Your Business An accountant plays a pivotal role in the success of your business
Managing accounting and bookkeeping tasks can be time-consuming and resource-intensive for businesses. By outsourcing these functions to a trusted third-party service provider like Margin Wheeler, companies can achieve significant advantages that positively impact their financial performance and overall operations. Why Outsource Your Accounting and Bookkeeping Services Efficiency and Accuracy in Financial Management Outsourcing accounting and
What we do at Margin Wheeler Setting up your own company isn’t all sunshine and rainbows – long working hours and mountains of paperwork can make it hard, especially if you are doing it alone. That’s why you need good business partners that will help you achieve success and reach your goal. As an accounting
Choosing a Financial Year End (FYE) Besides dealing with bookkeeping and taxes, an important part of incorporation is choosing a Financial Year End (FYE). This chosen date will be when you submit all your corporate filings and taxes. In this article, we’ll be going through what you need to know about your FYE and what
A guide to balance sheets Of all the documents that you’ll need to manage while settling the accounting for your firm, the most important one will be your balance sheet. For new firm owners who are not familiar with what it is, we’ll be breaking down everything you need to know about understanding this document.
Filing ACRA and IRAS Requirements The Accounting Corporate Regulatory Authority (ACRA) and Inland Revenue Authority of Singapore (IRAS) are the two government agencies that local companies are required to file to. All companies in Singapore have to file their annual and tax returns to stay compliant. As a business owner, you must know how to
Record-Keeping By now, we all know of the large amounts of administrative work that go behind ensuring that your company runs smoothly. From bookkeeping to accounting, they all play a part in ensuring that you won’t run into any hiccups. If you’re completely unfamiliar with record-keeping, here’s a simple introduction to get you started. What
Now that you’ve got your business plan, it’s time to get down to the nitty-gritty, which includes creating your invoice. Learning how to make a simple invoice will allow you to start charging your clients, which in turn means that you get paid for your work. What is an invoice? An invoice is sent out