Rikvin Bestows Accounting Services 

by Samew Jessie Sunday, February 06, 2011
Singapore through its Companies Act prescribes all companies registered with ACRA to keep and maintain books of accounts. A company ought to employ an accountant to carry out the functions of accounting including bookkeeping, payroll management, and filing of annual returns.

Rikvin catalogues accounting services as among its specializations. Its bookkeeping services comprise almost all of accounting functions such as management reporting, books cleanup, bank reconciliation, budgeting, and financial analysis.

It also maintains in behalf of its clients general ledger, accounts payable ledger, accounts receivable ledger, and fixed assets ledger.

“By engaging our bookkeeping service, an account manager shall be assigned to a company to assist it in all its business accounting needs,” says a business consultant of Rikvin in an interview.

“According to the company’s financial documents forwarded to us on a regular or periodic basis, the account manager assigned to that company shall review and organize the information to contrive and maintain accounts ledger.”

Another requirement of the Companies Act is holding of Annual General Meeting during which the Financial Statements are presented before the board members. Many companies engage the bookkeeping service of Rikvin to assist them as well in drafting of the Financial Statements.

Rikvin continues: “Accompanying the Financial Statements are Director’s Report and Director’s Statement, Cash Flow Statement, Profit and Loss Statement, Balance Sheet, Statement of Changes in Equity, and Corresponding Notes to Financial Statements.”

ACRA must be furnished of these documents before the Annual General Meeting is held. Thereafter, it must also be bestowed with a copy of the resolution made by the board.

Annual Returns or AR, too, must be filed with ACRA within a month of holding the AGM. Included in the AR are documents such as Financial Statements, Summary of Share Capital and Shares, Principal Activities, Dates of Annual Returns and Annual General Meeting and Accounts, among many others.

A function of accounting that is equally crucial is payroll. Singapore does not have laws defining the minimum amount for the price of labor. However, it does have the Employment Act which stipulates rules on how remunerations are disbursed.

“Wages must not, for instance, incur unauthorized deductions. Also, most salaries have additional remunerations in the forms of allowances, overtime compensations, increments, performance bonus, and more.”

Relative to the nationality of employees, some may have government remittance such as the Central Provident Fund and the like. Overall, the wages in Singapore are either simple or complex. Either way, Rikvin has state-of-the-art software to process even the most complex account.
As a solution provider, Rikvin proffers a full spectrum of accounting services for companies seeking to outsource a few of their non-commercial business process.

About the Publisher:
Rikvin provides corporate solutions to investors and entrepreneurs in the local and abroad. Among its specializations are Singapore company registration, Singapore company setup and providing professional services relating to finances and administrative. Rikvin specializes in processing working visas and providing services such as nominee director, nominee shareholder, nominee agents, accounting, payroll, and secretarial.

Since 1995, Rikvin serves hundreds of companies managing and rendering Singapore accounting service using sophisticated payroll software system to handle even the most complicated payroll account. In its payroll services, Rikvin assures its clients of confidence in dealing with every transaction. Its accountants maintain competence. Above all, Rikvin’s principles adhere to the laws and share the same vision such as the inevitability of innovation. Rikvin has successfully helped foreign and local entrepreneurs form a Singapore company.

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions.

For more information, visit:
Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines : (65) 6438 8887
Fax : (65) 6438 2436
Email : info@rikvin.com
Website: http://www.rikvin.com/

Rikvin provides Singapore Company Registration service including securing your Singapore Employment Pass and Singapore EntrePass Visa for Singapore Business Migration.

0    submitted by Samew Jessie
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