For the SME in Singapore, managing a business includes more than just boosting sales and earning higher profits. Managing a business also includes ensuring that the business operations is running smoothly and expenses are managed cost effectively. Cashflow must be in a healthy position which includes ensuring trade receivables are not long outstanding. It also includes proper inventory management system.
In addition, the financial reporting has to be in accordance to the local accounting standards and regulations. This includes tax laws as well.
In order for the business to adhere to the above mentioned, it is recommended to have accounting software for sme Singapore. Accounting software contains individual modules such as account, sales, purchase, inventory and so on, which are integrated. The integration helps to record transactions from the start to the end. Accounting software can assist to automate the tasks as well, which saves time and money. The time saved can be channelled to handle more productive and revenue generating tasks. This is especially important as most businesses run on lean structure, limited manpower, therefore every time and effort is precious to focus on the right tasks for business sustainability and growth.
Accounting software can automate a number of tasks, due to the below functions available:
Single point of entry
The software can allow the recording of the transaction at the inception, relevant documents for example invoice or purchase order can be automatically created from the transaction. If inventory is concerned, the level will be automatically updated. Corresponding accounting entries will be updated in the financial module. The most up to date financials can be generated too.
If the invoices are from the same customer, the employees can use the prior invoice or standard template to create the invoice, without the need to start from scratch. The same applies for purchase order as well.
This is a form of automation for the Company. This is because without the software, the employees need to perform every step repeatedly and manually. They have to recreate the invoice or purchase order from scratch. There will also be resulting in duplication of work.
Scheduled recurring transactions
Accounting software for small business Singapore allows you to schedule the recurring transactions that allow the invoices to be automatically created and entries automatically recorded on a monthly basis, or frequency determined by you. If business owners do not wish to have the entries recorded automatically as the want to check on the recurring entry before posting them to the system. They can still schedule such transactions, but with the option of “manual” upload.
With the benefits listed above, purchasing an accounting software is critical and important for a small business who is looking to expand and scale up its operations. It is a cost worth investing, for the Company’s long term benefit.
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There are a number of ice cream shop supplies that are essential to any thriving ice cream business. Without the proper supplies, it will be difficult to be competitive in the ice cream market. What are some supplies that can help your business to grow?
One of the greatest assets to any ice cream is personalized ice cream cups. Rather than just using plain white ice cream cups, many ice cream shops choose to use custom cups that display both their brand logo and give their shop a unique identity. One idea would be to create an artful texture that only your ice cream shop uses. Anytime someone sees this design on a customer’s cup, they will know that the customer chose your ice cream shop for their ice cream. According to Gelato Products, this is a very similar method to word of mouth marketing.
You can use custom printed cups to accomplish this goal. Don’t just use the standard white cups. A great opportunity for branding and advertising awaits when you print your own ice cream cups. Look around at some of the various printing shops in your city to find a place with a great artist that also offers great prices. A quality ice cream cup may be the difference between a customer remembering that they ate ice cream at your shop and just remembering that they had ice cream.
When you’re running a small business, the little things matter. By keeping an eye on spending and where you can cut costs, you can make actual savings that will benefit your business. It is a good idea to set aside few hours every six months to sit down and work out how you can save money, to stop the little things from adding up. This will also keep you conscious on your spending practices. Here are some saving tips for small businesses that you could implement.
Go green to save on energy bills
- Turn off computers at the end of the day or if you know you’ll be out of the office for a while.
- Print on both sides of paper when you can.
- Switch from paper towels to hand dryers in your office bathroom – a good hand dryer can be more hygienic as well as energy efficient.
- Switch off lights when not needed.
Assess your running costs
- Shop around for the best deal on your credit card company, and look out for any benefits you can cash in on such as Air miles.
- Review your business insurance to check that you are not paying for coverage you do not need.
- Reassess your phone plan, and consider using services like Skype, which allows you to make calls for free.
Make wiser choices for office essentials
- Use the free trial versions of software. If you are in need of new software, take advantage over free trial versions. Usually these last around 30 days – that is enough time to search for the best option for your need.
- Buy furniture at a bargain. Sites like Gumtree and eBay are your best options.
- Buy office supplies in bulk to save on shipping cost and avail store discounts. For instance, when you are constantly buying Canon BCI-6 ink cartridges, it is best if you go for a value package Canon BCI 6 pack to get ample savings and ensure that you always have replacement cartridges on hand.
Grow your business while cutting costs
- Try to use your own network to recruit new workers rather than contracting recruitment firms.
- Connect with your home university – many offer internship opportunities to allow students and graduates to gain experience. Taking advantage over these opportunities can help you develop your business with a fresh injection of new hire. And most often, the university subsidizes intern wages so you only need to pay reduced salaries.
- Hire freelancers to do short-term work that you cannot do yourself. When you are just starting out and a full staff is not needed yet, this can be cheaper than recruiting full time workers.
- Use social media to boost your visibility. Social media sites like Twitter and Facebook allow you to interact with potential clients directly for free, while boosting the strength of your brand.
- Finally, it is vital to get a good accountant to make sure that your business is tax efficient and help you make changes or cutbacks. Accountants usually offer different levels of service, so if you only need basic bookkeeping then you should not pay for anything else.
These are just basic tips that you can emulate. Certainly, there are many more ways you can cut down your spending.
Whether you are going to the recreation center for a reviving bicycle ride over the open trails or downside of the street ; comfort, compactness and security are associated with the recent versions of electronic bike that are available, for the fact that they are foldable; permitting the bicycle to fit snuggly inside your trunk. These new electric bikes that are getting to be accessible will give more highly developed and cheap ways to get around. Whether you are site seeing, running errands or just doing a reversal and forward to work, these bicycles could turn into a most loved new type of transportation. We are seeing various models, choices and plans going from outlines and models to creation lines and into the commercial center. When I at first saw one of these mechanical miracles zooming down the road one early morning that I was out in my garage, I thought, “Whoa! Is it the 1800s?” So I laughed, and I shook my head. I was feeling that if someone may choose a vehicle to convey him around, he has two choices depending upon which side of Mother earth he’s on- – he can ride an auto, a van, a bike or any sort of petroleum-driven vehicles, or he can without much of a stretch ride a bicycle or simply walk.
However, trust me; I have really been among the clever gentlemen for a long time now as I’ve learnt that motorized bicycles can be the best decision as a mode of transport that everybody should start taking advantage of. Numerous organizations including some real auto producers are all turning out with their own particular eco-friendly versions of the best electric bikes. Several have adapted their plans towards discovering the most useful choices that will have shoppers biking more and driving less. Recently propelled electric, foldable and rechargeable electric bicycles are certain to make another influx of cyclers; sparing shoppers cash with a fuel and expense productive method for voyaging. As auto manufacturers are attempting to discover their way into the ecologically friendly business sector, their new electric bicycles might just soon turn into the most current standard choice included with acquiring new vehicles.
Moreover, motorized bicycle is craftsmanship exemplified just by getting a set and adding to your own MOTOR BIKE, you support your inward craftsman/workman. You can likewise alter, much the same as cruisers. On the off chance that you comprehend where to look, there are a huge amount of individuals that have some expertise in building and creating these to a great degree down to earth centerpieces. Although hybrid bike is a general term, it is by and large comprehended to mean a cross between a mountain bicycle and a street bicycle. A significant part of the contrast between these two is in configuration and riding position, so the hybrid bicycle by and large falls in the center some place to give the best solace levels. Regular ranges incorporate the tire thickness, handle-bar position, and seating arrangement. As far as execution, it additionally gives a center ground to riding velocity and territory handling capacity. Then again, it is suggested that you browse sites for electric bicycles online in order to understand which frills and motor units will serve your need the best.