No matter the stage or size, every business needs a bookkeeper. Whether you just want to stay on top of your finances or you have a business that’s large enough to require filing, understanding what’s required of your bookkeeping means you need to master a few skills.
According to the Singapore Companies Act all resident companies in Singapore have a mandate to maintain a proper book of accounts. There are various other requirements, stipulated by ACRA and IRAS that include cash flow, reviews, budgeting financial statements and more.
Learning bookkeeping and taking a bookkeeping course is an invaluable addition to any founder, or anyone wanting to understand and add insight to the financial side of the business. It certainly makes keeping your books much easier.
As a bookkeeper, you’re responsible for maintaining accurate accounting records. A full-charge bookkeeper handles all the accounting processes for a business, while other bookkeepers are required to handle specific tasks given by the employer, such as payroll or receivables.
For an entry-level bookkeeping position, some employers only require you to have a high school diploma, but most employers also expect some type of work experience. This means that learning how to use accounting software, taking some online bookkeeping courses, and even getting certified as a bookkeeper can help your career.