Many entrepreneurs, the question of which accounting company to use can be a daunting one. There are so many options out there, it’s hard to know where to start! This blog post is aimed at helping you pick the best one for your business by looking at five important factors to consider when evaluating a potential accounting company. These include:
- Service standards and quality
- Insurance coverage
- Specialized expertise
- Cost effectiveness and value
- Technologies used.
Together these factors will help you find an accounting company that suits not just your needs but also your budget and location.
Once you have chosen the right company, you can use this free guide to help you get your accounting up to scratch. It will help you choose the right accounts software, check that your bank reconciliation is accurate and that all of your finances are in complete order.
Figure 2: Example of a helpful infographic when looking into companies
With over 25 years of experience in SME (Small and Medium Enterprise) accounting services, PWC offers a range of services that can cater to all needs. They offer everything from accounting software recommendations, financial management systems and automation solutions up to specialized services for technology companies such as financial performance reporting for tech product companies like Apple or Dell Software Group.
If you are looking for a company with great customer service and a vast experience in the field to help you out, this is definitely the company for you.
In addition to financial expertise and services, PwC also offers an array of other services that can be instrumental in your success. If you are looking to expand your business outside of Singapore, they have a variety of international locations that can help with this process. In addition to their vast experience in accounting, they can also help with everything from tax planning to venture capital financing with great success.
Figure 5: Forbes Top 100 Most Powerful Women in The World 2016
The most powerful women in the world according to Forbes magazine.
This Hong Kong based company is a publicly listed and multimillion-dollar business that serves as a one stop shop for small business owners to have all of their accounting needs fulfilled. With offices in China, Singapore, England and the US they are certainly a company that specializes in serving an international clientele.
Figure 6: Freelancer – Helping people find work globally since 2009
If the idea of an accounting company with a global reach is what you’re looking for, then this is the company you need to have on your short list of candidates. Serving clients in over 100 countries, Xero has helped small businesses grow and succeed all over the world.
Why Are Accounting Companies in Singapore Profitable For You?
If you’re toying with the idea of starting your own business in Singapore, you may be considering opening an accounting firm. This is a decision that will require quite a bit of your time and effort. But it’s just as important to consider whether or not it is profitable for you. This blog post will explore some reasons why accounting firms in Singapore are profitable for entrepreneurs, so that you can make an informed decision about what’s best for your future company!
It might seem like any unusual career path would have its share of advantages and disadvantages. However, just because accounting is a relatively high-skill job doesn’t mean that it is any less difficult or less rewarding.
Although accounting firms in Singapore aren’t as prevalent as their counterparts in the U.S., it still makes sense for entrepreneurs to consider opening one, thanks to the many benefits of doing so: The work involved, the amount of training and education required, the profitability itself…they’re all pretty solid reasons why you should consider starting your own business in Singapore!
Startups generally require a large investment of time and money from their owners. A start-up requires a lot more financial and human resources than an established business. And we’re not just talking about the cost of the office space and equipment. You will also have to invest a lot in employee recruitment, training, and retention.
But that doesn’t mean that you should avoid opening your own accounting firm in Singapore. It’s just a matter of having realistic expectations about how much time and money you need to get started!
With this being said, there are several things that can make or break your success as an entrepreneur. A strategy for managing your time is crucial because it will set the tone for how future clients see your business.
You may choose to delegate some tasks to employees or contractors, but there will always be roles around which you cannot delegate. The less time you spend on these tasks, the more time you will devote to the clients and your business.
Choosing an Accountancy Firm in Singapore
One of the biggest mistakes that many entrepreneurs do is underestimate the amount of time necessary for establishing their company’s accounting system.
Every Accounting Firm Has Its Pros and Cons There are benefits to both the client side and employee side when it comes to accounting firms. However, there are also a number of pitfalls that entrepreneurs need to avoid. An experienced accountant can offer valuable advice on how to make an effective use of internal accounts and external books, while a tax advisor will help you with filing your VAT return correctly.