Question 1

How it Works

Accepted Answer

You will be assigned an accountant who will work with you personally on your business accounting needs and based on the financial documents you submit to us on a periodic basis, your accountant will review and organize the information to create and maintain your accounts ledger. The accountant can also help you draft financial statements in accordance with the Financial Reporting Standards (FSR) for statutory submissions.

Question 2

Information Required for Quotation Purposes

Accepted Answer

For bookkeeping services, we will need to know the detail of your business in order to provide you a final and reasonable quotation. For newly setup company, kindly email us the following details at support@swiftassurance.com.sg (support@swiftassurance.com.sg)

– The Company name
– Business nature
– Financial year end
– Any schedule is prepared to monitor the sales made by the Company
– Any schedule is prepared to monitor the purchases incurred by the Company
– Any private use of the bank account
– How many pages of the bank statement per month
– Expected monthly revenue and number of sales transactions.
– Expected number of transactions for expenses and purchases incurred during the financial year
– GST registered or not
– Any other special item like hire purchase, loan is obtained
– Any investment made during the financial period
– Currency involved in sales and purchase (Type of foreign currency)
– Number of bank accounts
– Number of debtors
– Number of creditors
– Frequency of preparation of accounts – Monthly basis, Quarterly basis, Half yearly basis, or Annual basis
– Do you expect the Company has significant inventory balance as at year end and any checking is required for the inventory movement during the financial year
– Does your Company has any internal accounting software and do you need our accountant to perform on site
– Does the account need to be audited?
– Total number of staffs.
– Any Existing Accounting Personnel? What are their roles?

Question 3

For existing company, kindly provide the additional information as follows

Accepted Answer

• Last year financial statement with detail income statement
 • Latest management account (Balance sheet and income statement)
 • Last set of bank reconciliation
 • Last GST Return Filed
 • Last year Accounting Fee Paid
 • Last year Audit Fee
 • Last year Tax Fee
 • Last year Corporate Secretarial Fee

Question 4

The following documents is required for bookkeeping purposes

Accepted Answer

• sales orders/invoices
 • purchase orders/invoices
 • expense notes
 • bank statements
 • payment vouchers
 • journal vouchers
 • payroll summary
 • tenancy agreement/invoices
 • fixed asset register
 • inventory listing
 • statement of borrowing/hire purchase
 • schedule for monitoring revenue generated and cost of sales/expenses paid during the year
 • debtor and creditor control (unpaid or un-receipt invoices), etc.

Question 5

Our Bookkeeping Service includes but not limited to the following accounting functions

Accepted Answer

• General Ledger Maintenance
 • Accounts Payable Ledger Maintenance
 • Accounts Receivable Maintenance
 • Bank Reconciliation
 • Fixed Assets Ledger Maintenance
 • Cash Flow / Budgeting
 • Financial Statements & Reports Monthly, Quarterly, Year-End Review
 • Books Cleanup
 • Management Reporting
 • Financial Analysis

Bookkeeping Services

Still unsure? Contact Us!