Sole Proprietorship and Partnership Accounting

Sole-Proprietorship-accounting

We at singaporeaudit.com.sg undertake Singapore sole proprietorship accounting as well as accounting for a partnership company. Accounting needs of both the companies are different in nature. Therefore, it is wise to take help of an accounting firm.

As the name suggests, the sole proprietorship business is and operate by a single person. Since this is not a separate legal entity where the owner and organization are one, the business owner is personally liable for all debts and activities of the company. Accounting requirements of the sole-proprietorship businesses are very basic and simple. In fact, the business owners can handle it if he has little expertise in the accounting field. If you are an owner and want to maintain your accounting for sole proprietorship in a professional manner, you are advised to take assistance of a professional services provider. Singapore Audit can help you with the best accounting services in Singapore.

We offer following accounting services:

  • General ledger services
  • Basic accounting services
  • Tax assistance

Likewise, partnership is defined as businesses that are co-owned and operated by two or more people who collaborate to run a business with a view of sharing profits. Other than equity, accounting of a partnership business is same as that of a sole proprietorship business. Even so, the concept can be complex and challenging due to multi-ownership. Therefore, it is wise to get the assistance of an accounting firm that is professional and trustworthy. Singapore Audit is a trusted name in the field of accounting in Singapore. The firm offers cutting edge accounting techniques and solutions for the partnership businesses.

Partnership Accounting services of Singapore Audit are listed as below:

  • Profit and loss appropriation account and capital account
  • calculation of interest on drawings and capital
  • capital ratio calculation
  • calculation of interest on partner’s loan to firm
  • treatments of past adjustment and joint life policy
  • salary or commission of partners
Please feel free to contact us on +65 6536 0036 or drop in an email at info@singaporeaudit.com.sg

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