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Business Questions

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
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ukdesigner
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Business Questions

Postby ukdesigner » Mon, 06 Aug 2007 2:46 pm

Hi,

hopefully again I can get some good advice from you guys. I have a few questions and those that have 'been round the block' might have the answers: (Oh by the way I have tried google and yahoo and they don't really help that much, hence why I'm on here again)

1. My business was registered a few months ago but I wasn't here. Can I claim the hotel costs back as genuine business expenses?

2. Does anyone know where I can get a business directory like yellow pages from?

3. I will need a book-keeper. Does anyone have a recommed at all? My business is small and I can either do my own (which i don't mind) but the software so expensive as it needs to be multiple currencies. Any advice?

Thanks again and I look forward to any advice.

Plavt
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Re: Business Questions

Postby Plavt » Mon, 06 Aug 2007 3:38 pm

ukdesigner wrote:
2. Does anyone know where I can get a business directory like yellow pages from?



Online, there is also the facility for residential numbers;

http://www.yellowpages.com.sg/newiyp/

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ukdesigner
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Postby ukdesigner » Mon, 06 Aug 2007 4:21 pm

lovely. thanks for that. Thats one of my questions answered.

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Postby Plavt » Mon, 06 Aug 2007 6:41 pm

I know nothing about book-keeping but maybe this might help;

http://www.xe.com/

luxiana
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Postby luxiana » Tue, 07 Aug 2007 12:34 am

I know a small firm who specialize in services for small companies.

they incorporated my company a few months ago.
The secretary is also a Chartered Accountant.

I have no clues about their fees but I must say that the incorporation fee was really low and the service was good.

Pm me if you are interested :)
my website: free online game

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ukdesigner
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Postby ukdesigner » Tue, 07 Aug 2007 3:48 pm

thanks for the advice guys. As always, spot on.

Plavt, I know about xe.com but its more the invoicing side I need, but thank you. The software to do multiple currencies is about $800 which is more expensive than my design packages and they're expensive enough!

I might have to dig bit deeper and look into a database driven system that I used to used, Filemaker but I'll need to find a programmer locally to do the changes I need.

And Luxiana, I might just take you up on that offer. I just need to make my decision as to whether to buy the software ($800) or pay someone to do it all for me.

The downside of getting someone to do all that is that I will have to rely on them to do my invoicing which is not how I like to do things. I prefer to keep it all in-house.

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Postby Wahm » Mon, 13 Aug 2007 2:22 pm

Hi,

Like you, I started a small business too. For software you can google MYOB, its good for small operators. Another one is just your basic Excel spreadsheet. For accounting and incorporating a business, I know of one company that made it painless for me, you can give them a shot too.

If you are recommending a company, please just post the name, address & contact numbers here. This is the recommended procedure for a recommended business. (Your own business you should advertise in the Classified Section of this site as it free).

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Postby jpatokal » Tue, 21 Aug 2007 7:17 pm

I've been using Gnucash and I like it.
It's a completely free full-fledged double-entry accounting system, so you'll need to understand the basics of accounting to be able to use it, but then again, you'll need to understand them anyway if you're going to do your own thing. Works best on Linux but they've got a Windows version too; not the prettiest-looking software around, but it's rock solid and handles multiple currencies easily (wrapping your own head around them is the hard part...).

Basic bookkeeping services in Sing start from a few hundred dollars/month and the end of financial year accounting & taxes will set you back around a thousand. I keep my own books, because I'm a control freak and like to know exactly where I stand at any given moment, but I let the pros compile annual reports, taxes etc, because it's a lot of boring paperwork where mistakes could get very, very expensive.
Vaguely heretical thoughts on travel technology at Gyrovague

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Postby sundaymorningstaple » Tue, 21 Aug 2007 8:44 pm

You can also try Microsoft Accounting Express 2007. It's free as well. Also has a purchase package with more perks. Only problem with this program is it's size. Typical MS Bloatware. If I'm not mistaken it's over 400 MB in size and it's not the professional version.

http://office.microsoft.com/en-us/accou ... 81033.aspx

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ukdesigner
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Postby ukdesigner » Tue, 21 Aug 2007 9:10 pm

thanks guys.

I'll have a look at them over the next few days.

I'm not sure about Microsoft products. They always seem buggy to me and wanna send info back to Microsoft, which as a mac user i'm certainly not pleased about. Plus as you say typical bloatware.
Don't p*ss me off! I am running out of places to hide the bodies.

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Postby steve9876 » Thu, 23 Aug 2007 2:32 pm

You can check out JSL associate for their accounting/bookkeeping service. A lot of my customers are using them and have good feedback regarding their service.

JSL Associate
Contact number: 97914461 (look for jimmy)
Email: info@jslassociate.com.sg

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Postby tanzhiwei » Thu, 23 Aug 2007 10:14 pm

Hi ukdesigner,

I do a little accounts so i hope i can help u out a little with my 2 cents worth.

1. My business was registered a few months ago but I wasn't here. Can I claim the hotel costs back as genuine business expenses?

Its possible to claim the hotel costs back as expenses.

Do note that your receipts have to be kept for tax verification purposes.

Also, claiming hotel expenses have to be available to all your employees and not an exclusive treatment.

Perhaps you might want to provide for an allowance in your company funds for your overseas trips in future so that it will be counted towards a tax-deductible expense.

I hope this helps.
Cheers.

hagar
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Re: Business Questions

Postby hagar » Fri, 24 Aug 2007 9:54 am

3. I will need a book-keeper. Does anyone have a recommed at all? My business is small and I can either do my own (which i don't mind) but the software so expensive as it needs to be multiple currencies. Any advice?



I have tries a couple of small firms in outsourcing my accounts/tax/secretarial duties and by far the best and most cost effective has been

TnB Global Outsource 6336 2518 (Ask for Lily)

I have them come in one day per month. They do all the posting and filing to allow me to have a full set of monthly accounts. They also prepare all the necesarry for my Tax & GST returns, Annual stat accounts etc etc.

Very dedicated service that won't cost you an arm and a leg. Be careful I have also in the past sacked another firm for bad service.

If you need further detail PM me your number and we can discuss. My small business has been up and running for just over a year now.

Cheers


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