Industries · Commercial & Industrial
Multi-currency invoices, permits, freight and GST schemes make trading books complex. We keep the currencies, schemes and margins straight so cross-border trade stays profitable on paper as well as in practice.
Traders often discover at year end that the profit they thought they made was an exchange illusion. We revalue open positions monthly, split realised from unrealised differences, and keep GST schemes like MES applied correctly so import cash flow is not strangled. When IRAS or your bank asks for numbers, the books already agree with the permits.
Not sure where to start?
Tell us where your books stand. An expert accountant replies within one working day.
Yes. We account for MES imports correctly and keep the records that scheme audits expect.
Realised differences hit the profit line and unrealised ones are revalued monthly and disclosed separately, so you see trading profit and currency effect apart.
Export permits, bills of lading and commercial invoices within the prescribed timeframes. We tell you exactly what to keep per shipment type.
Yes. Xero and QuickBooks multi-currency are set up properly from day one including bank feeds in foreign currencies.
Where needed, yes, mainly to get cost documents flowing monthly instead of at year end.
Tell us your flows and currencies and we will structure the books.
Accounting, corporate secretarial, payroll and advisory for Singapore SMEs since 2012.
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Ian & Son refers to the Ian & Son network and/or one or more of its member firms, each of which is a separate legal entity. Contact us to learn more.
