All business entities and even not-for-profit organisations are required by law to maintain accounts to safeguard the interests of stakeholders and ensure proper discharge of duties by officeholders.
Increasingly, organisations of every size are discovering that outsourcing their accounting function is financially viable and improves efficiency. It frees them from the high cost of maintaining an accounting department while ensuring timely information for decision-making and reporting. With accounting outsourced, these organisations do not need to be concerned with staff turnover, career planning, training or absenteeism. They get accounting support and can focus on their operations.
TFW Management Services Pte Ltd, an associate of Baker Tilly, specialises in providing a complete range of accounting, payroll and related services to fit any business need.
How Baker Tilly Can Help
Using sophisticated technology tools, Baker Tilly accounting services include preparing and reviewing financial statements and consolidation of accounts. We help to set up accounts for start-up companies, clearing accounting backlogs and even reconstructing accounts from incomplete records.
We process payrolls – including CPF contributions – for companies on a monthly basis and prepare annual employee remuneration records for submission to the tax authorities. We also help clients to set up their monthly payroll process.
Goods and Services Tax (GST) Services
Besides preparing and submitting GST returns on behalf of our clients, we help them with GST registration.
Our disbursement services include preparation of payment vouchers and initiate payments based on approved payment vouchers via online banking portal for the bank signatories to authorise payments online.
XBRL Conversion Services
We help clients to prepare their financial statements (“FS”) in the prescribed full XBRL format / FS in Simplified XBRL format/ financial statements highlights in XBRL format to satisfy the filing requirement with ACRA.
Who needs Accounting Outsourcing Services?
- Essentially, any organisation – start-up companies, businesses large and small and even not-for-profit organisations – that deals with financial transactions and has reporting requirements would benefit from outsourcing services.
Lee Lei Kun