Accounting Tools

JULY 29, 2023

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Reconciling a bank statement involves comparing the bank's records of checking account activity with your own records of activity for the same account. In brief, a bank reconciliation is needed to ensure that your checking account balance is correct.

Reconciling 75

Reconciling Bank Reconciliation Deposits Auditing 75

Accounting Tools

APRIL 14, 2024

And finally, it is always easier to create a ghost employee when the payroll staff knows that no one ever cross-checks the payroll records with an internal audit. Related Article Types of Payroll Fraud Under these three circumstances, it is much easier to create a ghost employee, if not a large number of them.

Payroll 75

Payroll Auditing 75

Accounting Tools

JULY 29, 2023

Related Courses Bookkeeping Guidebook Optimal Accounting for Cash The cashier position is accountable for error-free cash register operations, payment processing, and interactions with customers. Supervises None Related Articles Automatic Cash Application Cash Receipt Controls (podcast) Cash Receipts Procedure Lockbox System

Bookkeeping 40

Bookkeeping Accounting Accounting 40

Counto

JANUARY 8, 2024

How to Register a RO in Singapore? To register a RO, submit an application to Enterprise Singapore with the following documents: Soft copy attachment (in English or an official English translation) of the foreign entity’s Certificate of Incorporation or Registration Certificate (as applicable).

Auditing 52

Auditing Financial Statements Financial Records Tax 52

Counto

JANUARY 8, 2024

How to Covert a Sole Proprietorship into a Private Limited Company Step 1: Register the New Company Check eligibility and submit the registration application through ACRA’s BizFile+ website. Register with Singapore Customs if the business involves import, export, or transshipment.

Corporation Tax 52

Corporation Tax Tax Accounting Accounting 52

Counto

JANUARY 9, 2024

Step 1: Register Your Trading Entity To begin your journey into the trading world, you must first register your business entity in Singapore. This process involves registering with the Accounting and Corporate Regulatory Authority (ACRA) through the BizFile+ platform. How to Start a Trading Business in Singapore?

Tax 52

Tax Accounting Accounting 52

Accounting Tools

MARCH 19, 2024

It is increasingly common for a business to pay a supplier with an electronic payment, rather than with a check or in cash. By doing so, a firm can issue payments at lower cost , more efficiently , and with fewer errors than with check payments. Related Articles Bilateral Netting Remote Disbursement

Accounts Payable 40

Accounts Payable Accounts Payable Auditing Accounting 40

Xero

MARCH 16, 2023

Don’t forget, there’s also plenty of other resources including support articles , a 24/7 payroll specialist team and webinars you can access at any time! Before you start processing your first pay run for the new tax year, make sure you update your payroll by checking the following: Employment Allowance – Check if you are eligible.

Payroll 203

Payroll XERO Tax Reconciling 203

Counto

JANUARY 3, 2024

The Purpose of UEN The UEN serves several vital purposes in the Singaporean business landscape: Identification : It provides a unique and unchanging identifier for each registered entity, eliminating confusion and ensuring accurate identification in official records. This UEN type is used for general business activities.

Record Keeping 52

Record Keeping Accounting Accounting 52

Counto

JANUARY 3, 2024

The Purpose of UEN The UEN serves several vital purposes in the Singaporean business landscape: Identification : It provides a unique and unchanging identifier for each registered entity, eliminating confusion and ensuring accurate identification in official records. This UEN type is used for general business activities.

Record Keeping 52

Record Keeping Accounting Accounting 52

Counto

FEBRUARY 7, 2024

Month 0: Incorporating the Business The journey begins with registering the business entity. Understanding industry-specific licenses such as F&B Licenses , and adhering to regulatory deadlines for tasks like setting up a Register of Registrable Controllers (RORC) are critical in ensuring compliance from the outset.

Corporation Tax 52

Corporation Tax Payroll Financial Statements Accounts Payable 52

Counto

JANUARY 9, 2024

Company-Level Restrictions: Check the company’s constitution for any restrictions on share transfers. The provision is documented in the company’s Memorandum and Articles of Association. Updating Electronic Register: The company must update its electronic register of members with ACRA. Time is money.

Accounting 52

Accounting Accounting 52

Counto

JANUARY 3, 2024

Uniqueness and Trademark Availability Check for trademark availability to ensure legal protection for your name. Here are some key points to remember: Your company name should be unique and not already registered by another entity in Singapore. ’ In Singapore, there’s no need to register your trading name with ACRA.

Accounting 52

Accounting Accounting 52

Accounting Tools

JUNE 8, 2023

Cash Register Tape A cash register tape can be used as evidence of cash sales, which supports the recordation of a sale transaction. Lockbox Check Images Lockbox check images support the recordation of cash receipts from customers.

Petty cash 75

Petty cash Invoicing Bookkeeping Reconciling 75

Accounting Tools

JUNE 20, 2023

For example, if a signature plate is used to sign checks , this could be considered a control weakness, except that a formal approval is required upstream for every purchase order issued. Such a finding does not automatically indicate the presence of a control problem that requires remediation.

Purchase Order 75

Purchase Order Payroll Invoicing Financial Statements 75

Accounting Tools

JULY 20, 2023

Related Courses Corporate Cash Management Payables Management What is an Electronic Check? An electronic check is a payment made via an electronic payment system or the Internet, replacing a traditional paper-based check. Related Articles Check Payment Registered Check

Deposits 40

Deposits Payroll Accounting Accounting 40

Counto

MARCH 21, 2024

Check out our comprehensive list of SSIC codes here. Legal services 69101 Legal Activities (excluding online marketplaces)) *To establish a law practice, applicants must apply for a law practice license through LSRA e-Services and secure in-principle approval before registering the business with ACRA.

Deposits 52

Deposits 52

Accounting Tools

AUGUST 25, 2023

Terms Similar to a Cheque Another term for a cheque is a check. Related Articles Check Payment Check Register Check Stub Checking Account A cheque may contain a number of integrated security features that make it more difficult for a forger to alter the information already stated on the document.

Accounting 40

Accounting Accounting 40

Accounting Tools

NOVEMBER 26, 2023

Paycheck Diversion Fraud Employees could take the paycheck of another employee who is absent, and then cash the check for themselves. This can be detected by matching pay rate authorization documents to the payroll register. Related Articles Common Fraud Risk Factors White Collar Crime

Payroll 74

Payroll Deposits Auditing Accounting 74

Accounting Tools

SEPTEMBER 12, 2023

The bank can safely issue this guarantee because it immediately debits the payer's account for the amount of the check , and therefore has no risk. Terms Similar to Bank Draft A bank draft is also known as a cashier's check. Related Articles Electronic Check Registered Check

Collections 40

Collections Accounting Accounting 40

Accounting Tools

JANUARY 30, 2024

Error-Checking Reports Some types of payroll errors can be spotted by running reports that only show items that fall outside of the normal distribution of payroll results. To avoid this problem, print a list of active employees at the beginning of payroll processing, and check off the names on the list when you receive their timesheets.

Payroll 40

Payroll Auditing Financial Statements Accounting 40

Counto

FEBRUARY 13, 2024

Appointment of company secretary Engagement of an auditor Maintenance of a registered office Maintenance of company registers and financial records. Compliance Check : Ensure your company meets the stringent criteria outlined by IRAS and ACRA to qualify as dormant. Q3: My company is dormant but is GST-registered.

Financial Statements 52

Financial Statements Corporation Tax Tax Financial Records 52

Accounting Tools

OCTOBER 11, 2023

Related Courses Bookkeeping Guidebook Corporate Cash Management How to Audit Cash Optimal Accounting for Cash What is a Voided Check? A voided check is a check that has been cancelled. Once it has been appropriately voided, a check cannot be used. There are several possible reasons for a voided check.

Deposits 40

Deposits Payroll Bookkeeping Auditing 40

Accounting Tools

SEPTEMBER 22, 2023

When there is evidence of an asset impairment, use the following procedure to record a reduction in its carrying amount in the accounting records : Step 1: Select Assets to Test The fixed asset accountant sorts the fixed asset register by carrying amount, which is the original book value minus depreciation and any prior impairment charges.

General Ledger 40

General Ledger Auditing Accounting Accounting 40

Counto

JANUARY 15, 2024

Privacy and Tax Considerations : The business owner may prefer not to be publicly registered as a director due to privacy or tax concerns. Fees and Terms : Cover any other terms of the agreement, such as fees and background checks if required. Failure to maintain this register can result in fines of up to SGD 5,000.

Deposits 52

Deposits Tax Accounting Accounting 52

Accounting Tools

AUGUST 4, 2023

This typically means that a preliminary check register is run and reviewed to ensure that all items scheduled for payment should actually be paid. If so, check stock is loaded into a printer and checks are printed. An alternative is to send electronic payments directly into the bank accounts of suppliers.

Accounts Payable 40

Accounts Payable Accounts Payable Accounting Accounting 40

Counto

JANUARY 10, 2024

The company’s registered address. This process involves checking the company’s constitution for any transfer-related processes, preparing necessary documents like the Instrument of Transfer, and lodging the transfer notice with the Accounting and Regulatory Authority (ACRA). The company’s registration number.

Deposits 52

Deposits Accounting Accounting 52

Counto

JANUARY 7, 2024

Business Profile : A document provided by ACRA containing your company’s information, including its UEN (Unique Entity Number), business activities, and registered address. This may include background checks. Company Constitution : The governing document outlining your company’s internal rules and regulations.

Deposits 52

Deposits Accounting Accounting Financial Operations 52

Accounting Tools

AUGUST 1, 2023

Currently, bond holders are registered with the issuer , so that electronic or check payments can be sent straight to bond holders at regular intervals. Related Articles Bond Interest Expense Contractual Interest Rate Stated Interest Rate It refers to the past practice of issuing coupons with bonds.

Corporate Finance 40

Corporate Finance Accounting Accounting 40

Counto

JANUARY 14, 2024

Paying CPF Contributions As a new employer in Singapore, you need to register with the Singapore Central Provident Fund Board to begin making CPF contributions. Check the eROP for accuracy and keep it for future reference. The AW ceiling is calculated based on the formula: $102,000 – Total OW for the year.

Payroll 52

Payroll Bookkeeping Tax Accounting 52

Stephanie Peterson

JULY 20, 2022

Here is direct information from the IRS for each type of business entity and the tax forms they're required to file: For an unincorporated business, you run yourself, check out what's required for a sole proprietor. For a business that has two or more partners, check out what's required for a partnership.

QuickBooks 52

QuickBooks Tax Deposits Payroll 52

Accounting Tools

JULY 12, 2023

In essence, blue sky laws mandate that securities being offered for sale for the first time be qualified by the state regulatory commission, and registered with the state. It is not bankrupt or in an organizational stage, nor is it a blind pool, blank check, or shell company that has no purpose for being in existence. Unsold allotment.

Corporate Finance 40

Corporate Finance Financial Statements Accounting Accounting 40

Nanonets

JUNE 19, 2023

This article covers why accounts payable audits are important to maintain financial health and the steps in an AP audit process. These procedures involve checking if transactions from the fiscal year are included in the year-end financial statements. They also check that the desired results have been achieved.

Accounts Payable 52

Accounts Payable Accounts Payable Auditing General Ledger 52

Intuit

NOVEMBER 20, 2023

That’s what we will discuss in this article. Check your state’s required coursework to see which classes you need to take to qualify for the exam. You can enroll in online classes to complete the required coursework and register for the exam online. They also experience a very high level of job security.

CPA 130

CPA Bookkeeping QuickBooks Tax 130

Accounting Tools

JUNE 20, 2023

Primary Payroll Journal Entry The primary journal entry for payroll is the summary-level entry that is compiled from the payroll register , and which is recorded in either the payroll journal or the general ledger. All of these journal entries are noted below.

Payroll 40

Payroll General Ledger Accounts Payable Accounts Payable 40

Counto

JUNE 13, 2023

In this article, let us examine potential reasons why your business tax return may attract attention and provide valuable insights on avoiding them, ensuring a smooth and trouble-free corporate tax filing experience. This can occur if the income reported on your tax return does not match your business’s records and financial statements.

Tax 52

Tax Financial Statements Reconciling Corporation Tax 52

Nanonets

JUNE 21, 2023

In this article, we will explore the process of reconciliation and discuss the steps. In the financial context, it involves comparing various financial records, such as bank statements, cash registers, invoices, and receipts, to identify any discrepancies or inconsistencies. What is Reconciliation?

General Ledger 52

General Ledger Reconciling Financial Records Account Reconciliation 52