6 reasons to use an accounting software instead of Excel

“Is an accounting software worth the investment or should we use Excel only?” This is a commonly asked question when starting a company. Most Small Medium Enterprises (SMEs) prefer to start with Excel as accounting software are slightly pricey; however, that’s only feasible up to a certain point. If you want your company to grow, […]

5 common mistakes in your Chart of Accounts

The chart of accounts (COA) is a financial tool that provides a complete listing of every account in the general ledger, broken down into subcategories. It sorts, organises, and consolidates the different specific accounts, making things easier for tracking and logging. However, many businesses struggle to keep well-managed COAs. That disorganisation can lead to inefficient […]

Save 90% of your time with Seamless Filing

It’s that time of the year again. You need to file your Annual Returns and Corporate Income Tax Returns soon. You sigh to yourself, dreading the extra workload that adds to the mountain of tasks, all of which are due soon. If this sounds familiar to you, it shouldn’t. The filing of your accounts should be […]

excel for accounting

Why small business owners shouldn’t be using Excel for accounting

“I don’t need to incur any extra cost for accounting software so I’ll just stick to Excel” – said the business owner who lost hundreds of hours and thousands of unnecessary dollars. That’s what JP Morgan also thought, before they announced they had lost more than 2 billion dollars on the capital markets back in […]

non profit organization singapore accounting basics

Accounting Basics: Managing a Non Profit Organisation (NPO) in Singapore

If you run a non-profit organisation (NPO), your accounting responsibilities are different from those of for-profit businesses. Even though there are differences, there’s no denying the importance of understanding accounting fundamentals. In order to continue pursuing your cause and operating the organisation, it’s crucial to have an accounting structure that’s robust and a process that […]

How to create an invoice online in 90 seconds

In a small business, whoever is in charge of finance has it tough. You’re responsible for everything money-related, from bookkeeping and taxes to chasing for invoices and maybe even payroll.  And chances are, you’re a key person in the company so this isn’t your only role. Which means any inefficiencies on your part can put […]

integrate accounting software to inventory

Should you integrate your accounting software with inventory management system?

Too many small businesses are automating but not optimising. All too often, those missed chances equate to lost profits. Hopefully, you’ve already been convinced of the benefits of accounting software and having an inventory management system. But better than just hope, you can find specific areas to enhance your company’s backend the right way. Starting […]

automate your billing

How to schedule + automate your billing process to get paid faster

If you’re reading this, your organisation probably handles a fairly large amount of sales. And if you’ve reached a certain stage, you’ve realise that you can’t do everything manually. You have to automate your billing process. Because efficient billing processes = better cash flow. An invoice processing system gives busy accountants and business owners the […]

bookkeeping small business owners

Bookkeeping Basics: Best Practices for Small Business Owners

Running a business is exciting. Making a profit is exciting. Realising you have to do maintain your books… probably not quite up your alley. While owning a business doesn’t require you to be a seasoned accountant, sound knowledge of bookkeeping basics and a reliable software can be extremely useful. Like it or hate it, bookkeeping […]

invoice

Customer not paying their invoice? Here’s 8 ways to recover it

You aren’t a debt collector. But when your client doesn’t pay their invoice, it starts to feel like they’re trying to avoid paying you. And it always gets a little awkward asking for payment, especially when you’re a small business and they’re a bigger player. It’s natural for most of your clients to try to […]