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10 reasons why TnB will make your best accounting partner

It is common knowledge that forward-thinking is key to success. A forward-thinking business carefully considers the quality of work, cost efficiency and reliability when determining business partners.

When you start your own business, you may find specific processes to be complex and costly. You may also find you have less time to focus on your priority – growing your business. Registering your company as a legal entity, keeping abreast of mandatory tax and regulatory compliance and still having to ensure your company is on track with accounting tasks. At TnB, we want to ease the load off you so that you will be able to target much more effort towards more incredible business successes.

Here are 8 reasons why we will make your best accounting partner as you grow your business.

 

1. Keeping you informed of your company’s performance

We help entrepreneurs in Singapore gain a deeper understanding of their businesses. Possessing expertise in management accounting, we can help you identify opportunities for cost-effective growth. 

We prioritise providing you with expert financial analysis to make better-informed decisions for your company with a you-centric mindset. We will help you break down your profit margins to visualise the sectors performing better and the underperforming sectors. Our team at TnB will also offer their insights and advice tailored specifically to your business and its performance. This will save you time trying to figure things out on your own and allow you to invest that time into bettering your business performance.

 

2. Effortlessly monitor your company’s financial performance

Living in the 21st century, no one has the patience to wait until the end of the month for a monthly financial report to be churned out. What businesses want is to be able to check their business performance daily, anytime and anywhere. Our clients can access their financial performance whenever they wish to through intuit QuickBooks, a cloud-based accounting software. With an easy to manoeuvre interface, you can easily see your current bank account balance, cash balance and even get the latest Profit and Loss statement (amongst many other features).

As a business owner, there may be instances where you want to generate an accounts receivable summary or calculate your cash flow while you are travelling from one place to another. With our accounting software, you will be able to do so just by accessing either the QuickBooks mobile application on one of your devices or via logging into the QuickBooks website through a browser. Not only are you able to efficiently obtain financial information, but you can also keep up to date with your business performance with timely statistics. 

 

3. Helping you with your GST return needs

We understand how tiring it can be for companies to handle the requirements related to GST return on their own. Meeting statutory obligations and submitting your GST returns may not be ideal if you can channel the time into more pressing priorities, such as improving your business.

At TnB, we can help you take your mind off work related to GST return by acting as your registered representative. You can focus on your core business activities and leave the time-consuming and monotonous work of online application for GST registration, complying with statutory obligations, GST calculation, submitting reports, and timely updates of GST records up to us. 

 

4. Taking the repetitive bookkeeping tasks out of your hands

There is no need for you to spend time filing your bills and invoices or generating reports. With Quickbooks, all of these can be automated with additional features to boot! You can create reports, graphs and charts that are detailed yet easy to understand in real-time.

The flexibility of retrieving information and the efficiency of obtaining data will help streamline your business processes and assist you in attaining your business goals.

 

5. No more flipping through stacks of papers. Your paperwork will be completely digitalised

Where did I place my July invoices? Why can’t I find the bills for X Company?

Many business owners can relate to these statements. Having piles of different documents makes it hard to find specific ones when certain situations call for them. 

Through our accounting software, you are now able to access your documents 24/7. The storage of your documents in the cloud allows you to quickly find the documents you require just by a few clicks on your phone or any of your devices via the QuickBooks mobile application or the QuickBooks desktop version.

 

6. Uploading of invoices is as easy as one, two, three

QuickBooks allows you to upload multiple invoices contained in Excel or CSV files with little effort. All you will have to do is ensure that your Excel or CSV file contains the columns specified under the QuickBooks template requirements before going to Settings > Import Data > Invoices to upload your invoices. We at TnB will then help to verify that the information imported is accurate. With this automated process, you have more time on your hands to zero in on growing your business.

 

7. Encourage transparency and efficiency by adding or removing relevant members to view your accounting information

With QuickBooks, you will be able to add more members to view your accounting information. Be it your internal members or your external members, you can add anyone in your company you deem essential in the process to view your accounting information. There may be specific employees in your company that you want to assign to communicate with our team at TnB directly. This function allows more efficient communication as chat conversations may be task-specific and relate to only a few employees. Not only is communication now more effective, but work can also be more productive and less time-consuming.

 

8. Assisting in restructuring your business towards excellence – M&A and fundraising

Many companies make mergers and acquisitions (M&A) to shape their company’s long term growth and outlook positively. However, M&A is a highly complex process involving many elements. A thorough analysis of your business and strategic planning has to be done to reap the desired positive benefits of M&As. 

Understanding that time is incredibly precious for M&As, our team at TnB has the financial industry knowledge and skills to help you complete the transaction meticulously and quickly.

You may also consider fundraising if your company is preparing for an Initial Public Offering (IPO) or simply working towards sustainable growth. Similarly, in-depth analysis of your business, practical strategies and comprehensive planning is desirable. 

At TnB, we also provide capital fundraising services dedicated to helping you identify your growth areas and mitigate risks. 

 

9. Helping you to understand the true worth of your business – business valuation and business analytical reviews

For your company to succeed, an extensive understanding of your business is needed. Knowing how to exploit your company’s strengths, mitigate risks and ride on new opportunities will help you to maximise your returns. 

We have assisted numerous clients in business valuation and understand that each company comes with their own set of needs and goals. We also acknowledge that measuring value is tricky and requires skills and judgement. Our business valuation services will help you develop a sound understanding of your business – we can provide a detailed analysis of your business processes, company industry, and relevant factors. 

Business analytics also comes in hand with business valuation. Business analytics plays a huge role in helping many big businesses make strategic decisions by analysing trends and identifying underlying issues. We tailor our analysis and sustainable strategies to help you formulate tactical plans for your company’s future.

 

10. We consist of qualified accountants and tax agents

It is best to engage a reliable partner with the best for your company in mind. Especially in Singapore, it is crucial to comply with local authorities and keep to deadlines.

Our team at TnB upholds ourselves to high standards of service. We have had experience providing accounting services for more than 15 years in Singapore and are trusted to assist clients in their business operations. Our team comprises qualified accountants and tax agents that are well versed in the accounting industry and more than capable of giving sound advice, providing professional assistance with business processes and sharing quality information.

 

Are you interested in working with us?

Leave us a message below, and we will get back to you ASAP to begin your start of a hassle-free accounting journey!

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Declaration of Eligibility and General Declaration

The OCBC Start Digital Pack is supported by Enterprise Singapore (“ESG”) and the Info-communications Media Development Authority (“IMDA”) and is offered by Oversea-Chinese Banking Corporation, Limited (“OCBC”) to its business banking customers.

You must meet the following criteria (“Eligibility Criteria”) to be eligible for the OCBC Start Digital Pack:

  1. Registered and incorporated in Singapore with a valid UEN issued by ACRA for the following business entity types: Sole Proprietorships, Partnerships, Limited Partnership, Limited Liability Partnership and Companies;
  2. At least 30% local shareholding;
  3. Group annual sales turnover of not more than $100 million OR Group employment size of not more than 200 employees;
  4. First time applicant to the Start Digital Pack (each business can sign up for only one Start Digital Pack across the Start Digital partners);
  5. Must not be an existing user of Quickbooks;
  6. Have an active business current account with OCBC.



To OCBC:

  1. We declare that as at the date of this form, we have met the Eligibility Criteria and that the information provided in this form is true and accurate in all respects.
  2. We confirm that we would like to apply for the OCBC Start Digital Pack, and we acknowledge and agree that:
    1. OCBC may supply any governmental agency (including, without limitation, ESG and IMDA) with documents and information relating to us or provided by us (including contact information) for purposes in connection with our application for the OCBC Start Digital Pack (Quickbooks);
    2. ESG and IMDA may use our information provided by OCBC to contact us to verify our application for the OCBC Start Digital Pack:
    3. we will supply and/or provide any information and/or documentary proof as OCBC may require from time to time and such information and documents shall thereby become and remain the property of OCBC;
    4. we will indemnify OCBC immediately on first written demand for any losses, damages, liabilities, claims, expenses, fees and costs that may be incurred or suffered by OCBC as a result of or in connection with (i) our failure to satisfy or comply with any of the Eligibility Criteria; (ii) us providing any declaration, information and/or document which is not true and/or accurate; or (iii) us not complying with any of the terms below;
    5. OCBC does not own or provide the TNB Global Outsource Pte. Ltd., or Quickbooks services to us. No warranty of any kind, including without limitation of merchantability, satisfactory quality, fitness for a particular purpose, freedom from malicious code, or non-infringement of third party rights is given in conjunction with the OCBC Start Digital Pack, and OCBC shall not be liable for any loss and/or damage suffered or incurred by or in connection with the use thereof;
    6. we have read, understood and accepted the terms and conditions set out on OCBC’s website (at https://www.ocbc.com/business-banking/accounts-and- services/start-digital/). OCBC reserves the right to update, amend or change the terms and conditions from time to time without our consent;
    7. the OCBC Start Digital Pack is subject to any terms and conditions imposed by ESG and IMDA and we have agreed to, and shall comply with, the same.


Terms and Conditions of OCBC Start Digital Pack

To TNB Global Outsource Pte. Ltd. (“TnB”):

By submitting an application, we acknowledge and agree that:

  1. the information provided in this form is true and accurate in all respects;
  2. we understand that TnB is an authorised reseller of Quickbooks by Intuit Inc. (“Quickbooks”), and TnB will be setting up our Quickbooks accounts with respect to this application;
  3. TnB may (a) share information with OCBC relating to us or our Quickbooks accounts, and (b) send us promotional collaterals relating to our business;
  4. we authorise TnB to set up, activate and access our Quickbooks accounts and we will bear the fees and charges imposed by TnB for services rendered which are not included in the OCBC Start Digital Pack;
  5. the OCBC Start Digital Pack is only valid for OCBC business banking customers who meet the Eligibility Criteria. In the event we are determined by OCBC and/or TnB in their sole and absolute discretion to not be eligible, (a) we will pay to TnB the fees and charges listed on (https://tnbgo.com/grant/ocbc-start-digital/) (“the TnB website”) for any service(s) already provided, and (b) we will be required to reimburse OCBC for all expenses incurred as a result of this application;
  6. any payments relating to the OCBC Start Digital Pack must be made via an OCBC Business Debit Card issued to us;
  7. fees will be paid directly to TnB and OCBC will not be liable for any payment.
  8. we will subscribe to the OCBC Start Digital Pack for a minimum period of 18 continuous months at the fees stated herein. Thereafter, the fees payable will follow that as listed on the TnB website;
  9. in the event of any cancellation request, we will notify TnB in writing (by letter to its registered office or email to the person-in-charge) with a notice period of 1 month. Any refund of any unutilised part of the subscription will be refunded back to us by TnB by bank transfer within 4 weeks of the date of such notice.
  10. we agree that, notwithstanding anything to the contrary, if we fail to satisfy or comply with any of the Eligibility Criteria; or any declaration information and documents given by us are not true or accurate; or we do not comply with clause (ix) above, TnB reserves the right to terminate the package without our notice;
  11. we have read, understood and accepted TnB Terms and Conditions (/https://tnbgo.com/privacy-policy-2/). TnB reserves the rights to update the Terms and Conditions from time to time without our consent;
  12. we have read, understood and accepted the Intuit Terms of Service (https://quickbooks.intuit.com/sg/terms-of-service) and Privacy Policy (https://www.intuit.com/privacy).

 

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