Monthly Accounting and Payroll

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We understand that Company start-ups need some time before they are ready to commence trading, generate revenues, and find the right administration/accounting staff. We also recognize that international clients setting up new ventures in Singapore are generally unfamiliar with local bookkeeping practice, employment regulations and employee-related tax matters. In this regard, we provide customised financial management, monthly accounting and payroll services to help you out until you find your feet, without creating a dependency. Once you are ready to “go it alone”, we are happy to provide training to your new accounting staff for a seamless handover and continuation of the accounting systems we have implemented.

MONTHLY ACCOUNTING & HR ADMINISTRATION (INCLUDING PAYROLL)

Free up your time and save on the cost of a full-time accounting staff by outsourcing your monthly accounting and payroll functions to Aspri Associates. Our qualified accountants are equipped to oversee your Company’s monthly accounting, financial management and HR/Payroll matters:

MONTHLY ACCOUNTING/BOOKKEEPING & REPORTS

• Data entry using your in-house systems
• Trade debtor and creditor reconciliation
• Checking of payments and receipts against bank statements and cheque book
• Bank Reconciliation on monthly basis
• Checking and analysis of petty cash and staff claims
• Accurate and relevant monthly financial reports
• Profit or Loss Statement and Balance Sheet and supporting schedules
• Submission of monthly report according to deadline set by client’s management team

PAYROLL & HR

• Activation of CPF account (one time)
• Set up of payroll system on your chosen payroll software
• Payroll computation and preparation of electronic payslips
• Timely submission of CPF & SDL payments
• Completing IR8A forms (employee earnings statement under Company), or application for auto inclusion scheme with IRAS

Other related HR services:

• Activation of Employment Pass Online account & Work Permit online account
• Maintenance of Employee Permanent files
• Tax clearance for foreigners (ex-residents), i.e. completion/submission of Form IR21