Managing financial accounts of business regardless of sizes has always been a tiresome affair. Essentially, bookkeeping is one of an essential part of your accounting function that helps you keep your financial records and transactions organized and categorized. One wrong or missed entry in the book can lead to serious problem in future. Accounting services Singapore could offer businesses with professional assistance to handle these matters.
Now, a question might be lingering in your mind, “What type of accounting firms in Singapore is suitable for your business?” For small businesses, it is better to hire a good small accounting firm that has hands-on experience in the areas of your interest. Since small businesses are likely to run on a tight budget; there is no use of going for a costlier option like Big 4 accounting firms.
Big 4 Accounting Firms: Not an Ideal Option for Small or Startup Business
The big four accounting firm, most commonly referred to “The Big 4” are the world’s largest and most reputed accounting services providers. KPMG (Klynveld, Peat, Marwick, and Goerdeler), Ernst & Young, Price Water House Coopers (PWC) and Delloit are the four accounting giants, termed jointly as Big 4.
Why Small/ Start-up Business should not hire Big 4?
The accounting services of Big 4 are costlier choices when compared to service of smaller accounting firms. The more reputed it is, the expensive their service will be. It would not suit the tight budget of small or start-up business.
The client- base of these accounting firms is enormously broad. So, getting personal attention or advice for each and every job is not feasible.
Ideally, the service of Big 4 accounting firms is meant for the well-recognized and international players in the market. The start-up or small businesses, running on a shoestring budget, must search for a good yet cheaper alternatives. There is no dearth of good small accounting firms in Singapore who can provide quality services equivalent to that of accounting giants at very competitive rates.
Smaller Accounting Services Singapore: A Perfect Choice for Your Business
If your business is either new or small in size, it makes no sense in hiring the pricey services of the big 4 when you have the cheaper alternatives. A good and experienced accounting firm in Singapore could offer similar services to that of a big four at a lower fee. These vendors do not even compromise with the quality of their services. They hire experienced accountants and bookkeepers from diverse fields and strive to serve the clients with best accounting services in Singapore.
When a business engages their services, they assign one accountant to look after the each and every aspect of the client’s accounting department and deliver service accordingly. Apart from taking care of end-to-end aspects of your Singapore accounting, the experts of these firms are open to offering advice and consulting services on other allied matters of your business as well. In short, you get an adviser who will help you reinforce your efficiency.
The Bottom Line
In a nutshell, entrusting your business finances to a good, reliable and small accounting firm in Singapore is the fastest way to achieve success. Take a note that the name and reputation of Big 4 are all worth when you can afford them. So, a small business must think beyond big four accounting firms and find a right alternative to keep the business growing!