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book keeping

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Doris yeo
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book keeping

Postby Doris yeo » Wed, 02 Jun 2010 4:43 pm

Hi all,

Any one has some tutorials for book keeping to share? I plan to do book keeping by myself, while outsource tax computing etc..

thanks
Doris


Doris yeo
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thanks for the reply

Postby Doris yeo » Thu, 03 Jun 2010 9:56 am

bookkeeping is same for every country? I am looking for tutorial for particularly Singapore.

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Postby sundaymorningstaple » Thu, 03 Jun 2010 12:03 pm

Bookkeepping principles are the same for all countries. Statutory submissions however are something else, but that is an accountant's job, not a bookkeepper's job.

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Postby Strong Eagle » Thu, 03 Jun 2010 12:30 pm

sundaymorningstaple wrote:Bookkeepping principles are the same for all countries. Statutory submissions however are something else, but that is an accountant's job, not a bookkeepper's job.


Correct. There would be some things in your chart of accounts that would be unique to Singapore. For example, you would have CPF liability and expense accounts. You'd need separate categories for directors salaries and fees, apart from normal salaries.

Most of the accounting rules are the same as in EU and US. For example, if you buy a 1 million dollar piece of equipment and immediately resell it for a $100 profit, you can't really claim gross revenues of 1 million 100 dollars... just 100 dollars. Similarly, revenue recognition rules and expense matching are pretty much the same.

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Postby kite » Fri, 04 Jun 2010 3:43 pm

i use MYOB, it is very simple to use for someone without accounting background.

i got my company GST registered and you'll need to sit through a presentation by IRAS if you are GST registrered. it's rather comprehensive.

can chck out on IRAS website.

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thanks for the reply

Postby Doris yeo » Sun, 13 Jun 2010 1:08 am

any free software or excel template?

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Re: thanks for the reply

Postby Strong Eagle » Sun, 13 Jun 2010 1:21 am

Doris yeo wrote:any free software or excel template?


Doris... you are showing yourself to be pretty clueless. If you want to do your business right, you will spend the necessary money to ensure that you track it properly, the most important element being your ability to understand your own P&L, cash flow statement, and balance sheet.

There is no real free accounting software, none at least that makes it easy for you to adapt. Go to sourceforge if you want free stuff.

Type chart of accounts if you want a template... there will be many.

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Postby Doris yeo » Sun, 13 Jun 2010 8:28 pm

kite wrote:i use MYOB, it is very simple to use for someone without accounting background.

i got my company GST registered and you'll need to sit through a presentation by IRAS if you are GST registrered. it's rather comprehensive.

can chck out on IRAS website.


Hi kite, how much does MYOB cost? thanks, I will check on GST registered stuffs first.

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Re: thanks for the reply

Postby Doris yeo » Sun, 13 Jun 2010 8:41 pm

Strong Eagle wrote:
Doris yeo wrote:any free software or excel template?


Doris... you are showing yourself to be pretty clueless. If you want to do your business right, you will spend the necessary money to ensure that you track it properly, the most important element being your ability to understand your own P&L, cash flow statement, and balance sheet.

There is no real free accounting software, none at least that makes it easy for you to adapt. Go to sourceforge if you want free stuff.

Type chart of accounts if you want a template... there will be many.


Hi, thanks for the notes. I am just thinking whether to do bookkeeping by myself using some kind of software or outsource it like statutory submission.

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Postby Doris yeo » Sun, 13 Jun 2010 8:42 pm

kite wrote:i use MYOB, it is very simple to use for someone without accounting background.

i got my company GST registered and you'll need to sit through a presentation by IRAS if you are GST registrered. it's rather comprehensive.

can chck out on IRAS website.


Hi, kite, yours is MYOB Business Basics?

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Postby Doris yeo » Sun, 13 Jun 2010 8:51 pm

kite wrote:i use MYOB, it is very simple to use for someone without accounting background.

i got my company GST registered and you'll need to sit through a presentation by IRAS if you are GST registrered. it's rather comprehensive.

can chck out on IRAS website.


Kite, you also attend their training?


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