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Fees collected in advance, government subsidies, deposits and term billing make education accounting different from a normal service business. We keep revenue recognised properly and subsidies reconciled to the cent.
A term of fees collected in January is not January income, and treating it that way flatters one month and starves the next. We recognise fee income over the teaching period, keep deposits separate from revenue, and reconcile every subsidy scheme payout against enrolment records. Your monthly report then reflects how the centre actually performed, which is what a licensee board or a buyer will eventually ask for.
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Spread over the period the classes are delivered. We set deferred revenue up in your software so it happens automatically each month.
Yes. Subsidy payouts are matched against enrolment and fee records each cycle so shortfalls are caught and queried early.
As liabilities until they are refunded or applied, never as income. We track them by child so refunds are painless.
Private education services are generally standard-rated once you are GST registered. We confirm the treatment for your licence type and set it consistently.
It depends on your structure and licensing requirements. We assess and prepare audited or unaudited statements accordingly.
We will keep the fees subsidies and filings in quiet order.
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.
