After your company has been incorporated, you can apply for an Employment Pass under the new company. The approval of the pass is subject to eligibility requirements and prevailing government policies. When your pass is approved, your family will also be eligible to relocate on the Dependant Pass visa. Designed for foreign entrepreneurs and foreign companies, this package covers all income tax calculator services that are necessary to incorporate and start a new Singapore company.
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Similarly, expenses are recorded in the expense account and, again at the end of the year, are transferred to the revenue statement account. Finally, the positive/ negative changes (Revenue- expenses) are transferred to a permanent account on the balance sheet. The balances of this nominal account list are never carried forward to the coming accounting period, which is typically done in the case of any permanent account. This above process leads to resetting the account and...
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At the end of the accounting year, you have R in your revenue account and R in your expense account. You’re then going to debit the revenue account for the total R and credit your income summary. Although they’re not one and the same, you need to know about both a real account and nominal account to fully understand both of them. Not to mention, they go hand in hand in your accounting processes.
During the...
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Seeing your figures in detail provides insight into your company's financial health. Calculating retained earnings will provide valuable information to people you rely on to maintain a financially successful business. A company that routinely gives dividends to shareholders will tend to have lower retained earnings, and vice versa. In other words, assume a company makes money (has net income) for the year and only distributes half of the profits to its shareholders as a...
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The accounting process consists of activities involved in preparing financial statements and includes identifying, recording, and summarizing a business's financial transactions. The accounting cycle is the series of steps required to complete the accounting process. Because the accounting process repeats with each reporting period, it's referred to as the accounting cycle. The transactions that cannot be entered in special journals are recorded in the general journal. Upon the posting of adjusting entries, a company prepares...
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With Wave Invoicing, you’ll be able to track, edit, send and pay invoices from any mobile device. In addition, Wave allows you to manage multiple businesses on one free account and uses double-entry accounting, which is ideal for accountants and tax time. Wave’s mobile app (available for Android and iOS) is much more useful than before. The dashboard looks good, and you can create and view customer and product records, estimates, and invoices.
Is Wave...
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All solutions are based on unlimited user access so anyone involved in the I2C process can access data anytime and get the visibility they need. Before you even consider firing up another tab to search furiously for all accounts receivable automation vendors, take some time to connect with your team members whose work would be directly impacted by an AR automation tool. Resource end of year bookkeeping constraints, system limitations, and inconsistent policies and...
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The obvious example is mining, where there’s a lot of overlap, but almost anything that depends on commodity prices is similar. Out of all the industry-specific courses I’ve released, Oil & Gas Financial Modeling has drawn the most interest. Typically, there is a correlation between the amount of G&A spent and the amount of attainable detail. Luckily, the industry is doing a great job of utilizing technology to eliminate tedious, non-value-added tasks. These...
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The e-Billing system provides invoice data in a format that allows it to be aggregated, manipulated, and analyzed. Legal spend data gives the Legal Department the information it needs to manage its outside counsel spend. Requiring the submission of task codes for line item billings will be critical to the success of downstream legal spend activities like budgeting, forecasting and corporate reporting. E-Billing systems are equally beneficial to Legal Departments of ‘all sizes‘ that use...
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Alternatively, Clio also supports integrations with Quickbooks Online and Xero, which integrate with Clio Manage to provide a streamlined accounting alternative. Personalize Clio’s legal time and billing software to the needs of your law firm and clients. Actionstep is a cloud-based legal practice management software provider known for its comprehensive workflow automation and integration features. Automated billing and approval processes improve “process development and project management,” which were listed as the primary job responsibilities...
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