Software: QuickBooks accounting software By default, QuickBooks has used the Undeposited Funds account as a default deposit to account. That is, when you received payment from customers, it will be deposited to the undeposited Funds account automatically. The double entry will be: Debit Undeposited Funds account Credit Accounts Receivable Then, you need to use the […]

Here is the information from IRAS (Inland Revenue Authority of Singapore) explaining the benefits and how to claim under the PIC (Productivity and Innovation Credit) scheme. http://www.iras.gov.sg/irashome/PIcredit.aspx PIC | Productivity and Innovation Credit

  Information from: http://iras.gov.sg/irasHome/page04.aspx?id=1990   You may pay for expenses on behalf of another party (e.g. your subsidiary or customer). Subsequently, you re-bill to recover the expenses from that party.      Whether you need to charge GST on the re-billed amount will depend on whether the recovery of expenses is a reimbursement or disbursement. […]

Software: Reckon QuickBooks accounting software Found this FAQ ID 4494 on Reckon web site about installing QuickBooks on a Microsoft Terminal Server. Full instruction on installing QuickBooks on Microsoft Terminal Server.

The below information is from IRAS web site: http://iras.gov.sg/irasHome/page04.aspx?id=676 For such purchases with GST, your supplier has to indicate the GST payable on the tax invoice in Singapore dollars at the approved rate of exchange determined by him. You should claim input tax on such purchases based on the Singapore dollar amounts shown in the tax invoices. This requirement […]