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Singapore is one of the countries that do not enclose a minimum salary condition. Based on the Employment Act of Singapore, wages refers to all remuneration, including allowances allocated to an employee for work done on the basis of the contract of service. It does not include traveling, food or housing allowances. Employers must pay salaries at least once a month, or at shorter intervals if they choose. Salaries must be paid within 7 days after the end of the salary period – non-payment of salary is an offense. As of 1 April 2016, all employers must issue itemized pay slips to employees covered by the Employment Act. Hard or soft copies are acceptable and should include details such as the date of payment, basic salary and allowances, overtime pay, salary period, as well as deductions made. Failure to do so will result in a fine. The Central Provident Fund (CPF) is a mandatory contribution by the employer and employee. An employee, who is Singaporean or Permanent Residen

The Micro Loan Programme (MLP) is a funding scheme spearheaded by the Singapore Government, in co-ordination with local banks aiming to support local business start-ups with funding for business operations and expansion. Loan quantum varies, which depends on the ultimate assessment by the financer but MLP typically lends up to SGD $100,000 max. This scheme will be ideal to SMEs that may be rejected by typical business term loans offered by banks. The following items will help to ensure the successful approval of your micro loan: Prepare a Strong Case  The first thing you have to do is plan how you can throw the capability of your business. This will verify to the banks why you be worthy of their loan. By preparing the following items, you will have a high chance of securing a bank loan to set up your company. A business profile from Accounting and Corporate Regulatory Authority (ACRA) Your bank statement                                                                 

Businesses set up as partnerships, legal entities where two or more people own and run a business, enable companies to benefit from multiple owners’ varied knowledge, skills , and resources. A partnership is alike as sole proprietorship, and each partner owns a part of the business’s assets and liabilities. With more than one person making decisions and disturbing outcomes, different aspects of starting and running the business need to be addressed up front. The clearer and more complete the agreement, the less that is up for debate or disagreement when partners don’t quite see eye to eye. So, what should your partnership agreement include? Here’s a list of some key items you should definitely think about addressing in yours: 1. Percentage of ownership You should have a record of how much each partner is contributing to the partnership prior to its opening. Typically, these contributions are used as the basis for the ownership percentage, but this is not a cut and dry formul

User Basic Software offers training for accounting software and inventory software and last but not least payroll software to all our users as well. Get knowledge of basic accounting software application and inventory software to improve your own knowledge and at the end of the course, you’ll be able to get Basic understanding of accounting theory Basic skills of using computerize accounting software Printing of management accounting reporting for submission for year-end closing Check warehouse inventory using computerized inventory software Print out prompt profit and loss report Know available stock costing Stock count and stock costing Submit GST every quarterly View sales reporting and graphs Issue invoicing and all other billing using software Print out and view all financial report anytime anywhere