We conducted a two hour introduction to bookkeeping sponsored by Plug-in@Blk71. The session covered everything you need to do-it-yourself bookkeeping in the first year of operation.
11. www.futurebooks.com.sg
AWAKEN THE CFO
Setup a finance
email address
Establish a
budget
The money
belongs to the
company
Monthly review
the Balance
Sheet and Profit
& Loss
statement
13. www.futurebooks.com.sg
IMPORTANT DATES
Financial Year – 1 January 2014 to 31 December
2014
Management Accounts – Before January 2015
ECI – Before January/March 2015
Estimated Tax Payable – Due March 2015
AGM – Before June 2015
Annual Return Filing – Before July 2015
Tax Filing – Before November 2015
16. www.futurebooks.com.sg
ANALYSE 3 TYPES
OF BUSINESSES
Point of sale Payroll &
Self-service
Inventory Invoicing
Memberships Time sheeting Management
accounts
Report to
shareholders
25. www.futurebooks.com.sg
FOUR MORE HANDY
BOOKKEEPING TIPS
Invoice from your accounting app
Keep cash transactions to a minimum
Maintain consistent expense documentation
Classify all your PIC Claimable expenditure under
consistent Account Heads
- IT, Training, Intellectual Property
27. www.futurebooks.com.sg
INCOME STATEMENT
Income Statement also known as Profit & Loss
What the business made/spent.
Read it once a month
Three key metrics on the Income Statement
- Revenue / Sales
- Biggest expenses
- Net Profit
Compare trend of Current vs. Past month
28. www.futurebooks.com.sg
BALANCE SHEET
Balance Sheet is what the business owns/owes
Read it once a month
Three key metrics on the Balance Sheet
- Accounts Receivable
- Accounts Payable
- Current year earnings/ Retained Earnings
Do you have sufficient working capital?
34. www.futurebooks.com.sg
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