Home Favourite Pte Ltd HF 300 hours
Home Favourite the Singaporean based moon cake specialist has been creating delectable cookies, premium moon cakes, yummy pastries since 1997. Home Favourite’s durian moon cakes, cookies and pastries feels exactly like sweet food that has been sent from heaven to stir one’s souls and leave a remarkable satisfying experience. Home Favourite always use the same special and secret mum’s recipe for making all their premium bakery and confectionery preparations.
Zephyr Consultancy in Singapore is well known accounting outsourcing services, consultancy company offering trusted accounting services, GST taxation services, secretarial and backlog accounting services to its Singaporean and South East partners.
The dedicated team at Zephyr Consultancy came to the relief of Home Favourite when they had trouble with duplication of payment to vendors, backlog accounts and GST correspondence that needed expert advice and accounting knowledge.
Zephyr Consultancy saw need for streamlining and refinement of operation process so that the information could flow easily to the finance department. This ensured that there were no duplication of payment to vendors and it lead to smooth book keeping and maintaining of records. The professional at Zephyr saw some inconsistency and over payment in regards to GST.
They first of all cleared the accounts backlog and made sure that all there was no pending work in regards to accounts’ books. This erased the pressure from HF’s finance department and now they had no worries accept to manage the current books. Zephyr Consultancy corresponded with GST department and successfully assisted Home Favorite to claim back the excessively amount that was once paid to IRAS. They gave HF expert guidelines on how they can report the GST figure correctly and the administrative work in dealing with all GST correspondence.
Through a set of customized monthly detailed financial statement, their director now could make reasonable decision and cost cutting measure to further expand the HF’s business which they are doing it right now in Macau and China. Tapping on IRAS grant for expansion is still on their watch list ever since they were successful in getting grant to buy equipment under Zephyr consultation.
Affluent Trade Management Pte Ltd ATM 220 hours
Affluent Trade Management (ATM) Pte Ltd in Singapore provides male performance and health solutions. The company was founded in the year 1998 as a US corporation and has its offices in Singapore. Their men performance supplements and solutions are developed with years of medical know-how and valid feedback from their customers over the last 18 years.
ATM has been successful in assisting their customers with increased male performance and much needed friendly advice in helping men to achieve desired and improved vitality results since last two decades. ATM also owns India Herbs that provides Ayurvedic Herbal Supplements (since 2001) and is one of the leading manufacturer, supplier and distributor of male performance supplements worldwide. ATM also owns SupaBiotech, which has its offices in Singapore too.
Zephyr Consultancy in Singapore is one the leading and renowned accounting outsourcing provider so if you are looking to outsource your accounting work , then Zephyr consultancy is the right name. They have successfully managed many projects in the past and they are your own stop company for accounting & taxation services, corporate secretarial services, payroll & recruitment services, accounting software training services, accounts backlog clearing, and GST taxation services.
Zephyr Consultancy, Singapore was called to handle ATM’s backlog of financial accounts. Since Zephyr is well known as accounting outsourcing company in Singapore they are often reached for account’s backlog services.
The Zephyr’s team leader Constance went to study client’s on line platform and realized that the sales figures were not accurate when compared to the third parties vendors’ statements. Hence she informed the programmer to fine tune the online platform and taught the operation person how to perform reconciliation work so that the sales figures were accurate.
The handling of cash management was inappropriately done in the past which lead to a tough time in reconciling the cash figures from the book versus the physical cash count. Zephyr introduced ATM with an internal control system which the floor manager need to reconcile the cash register versus the green cash on a daily basis and the bank on the following Tuesday. She suggested that the submission of cash report from various mode of payments must be submitted to the finance department and the accounts would then reconcile against the bank statement that the floor manager diligently deposited into the accounts. That resulted in cash discrepancy being diminished.
The GST reporting was challenging at the start. It was found that one could produce an accurate and detailed GST reporting that is required by IRAS. Then Zephyr’s accounting team of experts scrutinized ATM’s financial statements and make a lot of correction to ensure the financial statement could be shown to the shareholders.
Bai Quo BQ
Bai Quo ( BQ ) is one of the top fresh fruit wholesaler, supplier and distributor in Singapore. Zephyr was called in when their accounts was mismatched and required to come in and bring up the accounts to meet the GST audit timeline.
Bai Quo operation was quite disordered due to incompetent warehouse keeping and inexperienced admin work. Zephyr team lead for BQ project was Constance. There were about 3 staff involved in the project. Zephyr team refined their sales, purchase, receipt and payment flowchart.
Zephyr under the guidance of the company director Mr. Vincent Pang, selected an ERP system to computerized BQ’s operation. A customized flowchart was given to the software vendor in order to come out an internal control system that is suitable for Bai Quo ( BQ )
It was found that the accounting function was crippled in Bai Quo. There seemed to be a fair bit of missing documents in the premises. The sales invoices were not in right order. Purchase invoices couldn’t be found. Receipts couldn’t be allocated against the sales invoices and Zephyr was not able to match those with bank statements. Zephyr found that there were many missing payment vouchers.
To solve the accounting worries at BQ, Zephyr implemented the inbound and outbound tray system to avoid the problem of misplacing the documents. The expert accounting outsourcing company Zephyr in Singapore allocated job responsibilities and accountability to ensure everybody knows their duties and responsibilities to avoid shifting of responsibilities upon a call for explanation.
Zephyr set up an internal control on sales and purchases to ensure smooth documents flow to the finance department. They then monitored the process on a daily to weekly basis and the improvement were apparent even to the shareholder of the company.
Bai Quo Pte Ltd was investigated by GST Controller and for this Zephyr was called in to assist in the investigation. They have followed up the matter and it was eventually resolved. Zephyr with their new accounting tools in place at BQ has ensured that Bai Quo would compile with GST ACT year after year without any accounting woes.