Key Ecommerce Accounting Best Practices
Counto Blog
by admin
1w ago
Key Ecommerce Accounting Best Practices In the bustling world of ecommerce, maintaining accurate financial records and staying compliant with regulations are essential for success. This blog post delves into key ecommerce accounting components and best practices, helping online sellers navigate their financial landscape with confidence. Common Challenges Online Sellers Face 1. High Volume of Transactions Ecommerce businesses often handle a high volume of transactions, which can be overwhelming without proper systems in place. Managing these transactions accurately is crucial to maintaining fin ..read more
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Optimising Your Billing Cycle: Boosting Cash Flow for Your Business
Counto Blog
by admin
1w ago
Optimising Your Billing Cycle: Boosting Cash Flow for Your Business Understanding and managing the length of your business billing cycle is crucial for maintaining a healthy cash flow. In this blog post, we’ll delve into how to determine the optimal billing cycle length for your business, discuss the impact of different billing cycle lengths on cash flow, and explore strategies to manage billing cycles effectively. What is a Billing Cycle? A billing cycle is the period between billing statements, often associated with credit cards, loans, vendor payments, and customer invoices. The duration of ..read more
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8 Ways to Accept Payments Online For Your Small Business
Counto Blog
by admin
2w ago
8 Ways to Accept Payments Online For Your Small Business As a small business owner, accepting online payments is crucial for your success. In today’s digital world, providing a variety of payment options can significantly enhance your customer experience and streamline your business operations. Let’s explore the different methods you can use to accept payments online, tailored to fit various business needs and preferences. 1. Online Payment Service Providers Online payment service providers are a popular choice for businesses selling products or services online. These providers, such as PayPal ..read more
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What is a Business Bank Account and How to Open One
Counto Blog
by admin
2w ago
What is a Business Bank Account and How to Open One As a business owner, one of the critical steps in managing your finances effectively is setting up a business bank account. This guide will walk you through what a business bank account is, why it’s essential, and how to open one, especially in the context of Singapore. What is a Business Bank Account? A business bank account, also known as a corporate bank account, is specifically designed for handling business transactions. It helps in keeping your business finances separate from your personal finances, which is crucial for maintaining clea ..read more
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Comparison of Business Bank Accounts In Singapore For New Business Owners
Counto Blog
by admin
2w ago
Comparison of Business Bank Accounts In Singapore For New Business Owners Starting a new business can be both exciting and challenging. One of the most critical decisions you’ll need to make as a new business owner in Singapore is choosing the right bank account. With numerous options available, it can be overwhelming to figure out which account best suits your business needs. In this blog post, we’ll guide you through some of the best business bank accounts in Singapore, focusing on the features and benefits that matter most for new business owners. Let’s start with the DBS Business Multi-Cur ..read more
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Things To Know About The Termination Of Employment in Singapore: Dos & Don’ts
Counto Blog
by admin
2w ago
Things To Know About The Termination Of Employment in Singapore: Dos & Don’ts Terminating employment is a significant decision for any business, especially for small businesses where every team member plays a crucial role. The Employment Act in Singapore provides a comprehensive framework to guide employers and employees through this process. Here’s what you need to know about terminating employment according to the Employment Act, including the dos and don’ts to ensure compliance and fairness. General Guidelines for Termination of Employment Either the employer or the employee can termin ..read more
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Important Finance Analytics to Track for Your Small Business
Counto Blog
by admin
2w ago
Important Finance Analytics to Track for Your Small Business As a small business owner, tracking key financial metrics is crucial for monitoring the health and growth of your business. Finance is the lifeblood of every business, and understanding the inflows and outflows is essential. Here, we explore important finance analytics that every small business should track to ensure they are on the right path. What is Financial Analytics? Financial analytics involves examining a company’s financial data and documents to assess its performance and predict future growth. The key financial documents in ..read more
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When to Hire an Accountant for Your Small Business
Counto Blog
by admin
2w ago
When to Hire an Accountant for Your Small Business As a small business owner, managing your finances efficiently is crucial to your success. While every company needs good accounting practices, hiring a dedicated accountant might not always be practical or cost-effective. However, there are certain situations where hiring an accountant or outsourcing your accounting needs to professionals can make a significant difference. In this post, we’ll explore when it’s the right time to bring in an accountant for your small business. 1. When You Have No Idea How to Handle Taxes and Money Matters Handli ..read more
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Top 6 Accounting Software for Small Businesses in Singapore: A Comparison of Features and Prices
Counto Blog
by admin
3w ago
Top 6 Accounting Software for Small Businesses in Singapore: A Comparison of Features and Prices Managing finances efficiently is crucial for small businesses, and having the right accounting software can make a world of difference. With numerous options available, it can be challenging to choose the best one for your needs. In this blog post, we will compare the top 5 accounting software for small businesses in Singapore: Quickbooks, Xero, MYOB, Wave Accounting, FreshBooks, and Sage 50. We’ll explore their features, pros and cons, and pricing plans to help you make an informed decision. 1. Qu ..read more
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The Great Compression: AI’s Radical Rebirth of Work
Counto Blog
by admin
3w ago
The Great Compression: AI’s Radical Rebirth of Work Earlier this year, we at Counto came to a profound realisation: we are in the midst of the Great Compression. This era is characterised by the rapid integration of AI agents, poised to replace up to 90% of service workers within the business processes they currently drive. This transformation is not just a technological shift but a fundamental change that will reshape industries, economies, and the very nature of work. The Dawn of AI-Driven Business Processes The Great Compression signifies the accelerated replacement of human labour in servi ..read more
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