Bai Quo ( BQ ) is one of the top fresh fruit wholesaler, supplier and distributor in Singapore.
Zephyr’s Expert Accounting Solution
It was found that Bai Quo operations were bit mismanaged. 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 inadequate and there seemed to be a fair bit of missing documents in their 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.
Delivered Business Results
After monitoring 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.