The importance of accounting and bookkeeping for your business

With the introduction of Goods and Services Tax, the accounting function has become tedious and time consuming. However, both the functions are inter related and if you have the accounting function well placed in a company, it will become easier to ensure that the calculation for taxation is correct at the end of the year. A lot of business owners file their tax returns at the last moment and they are unable to make the right investment decisions. It is tempting to file the returns as and when needed based on the computation in the spreadsheet. This will ensure that the finalization of accounts is done at the end of the year while you have everything calculated in the spreadsheet making your job easier and allowing you to save more.

There is no denying the fact that it is important to maintain the accounts regularly throughout the year. If you have a good accounting system, you will be able to ensure that your GST returns are filed on time. It will also ensure that the returns are error free and your calculation is accurate. To achieve the same, you may seek financial help from reliable consultants like https://www.e-sandhurst.com/accountingtaxationgst/. The experienced professionals are here to assist you in accounting, GST and taxation. They offer services which include the preparation of the director’s report, tax planning services, annual return filing, computation of corporate tax, personal taxation, GST registration and preparation of GST returns. Whatever your business size and type, they will help you with the accounting and taxation of the same.

Benefits of hiring expert consultants

There are numerous benefits of hiring an experienced consultancy for the purpose of bookkeeping and accounting. With many qualified accountants at your service, you will not have to worry about the regular maintenance of books and preparation of the final accounts. The accountants comply with the accounting standards and they are always updated about the latest amendments in taxation. The accounting records are maintained regularly in the computerized accounting systems and they also help in the GST registration for the companies. There is not enough clarity with regard to GST as yet and only professional experts can help maintain the record up to date. Companies with a turnover of more than S$1 million require a GST registration and the professionals can help you with the same. In case of transfer of a business, the GST registration is needed if the turnover of the transferor’s company in the past three quarters is more than $1 million. Every business owner will be required to adhere to the rules and regulations of GST. The expert professionals will reduce the burden from you and will make the entire process of GST registration and preparation simple and straightforward. You will be able to ensure timely submission of your monthly and quarterly returns and the payment of dues without any delay.

For up to date bookkeeping, tax filing and regular maintenance of accounts, contact the expert consultants today!

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