Simplify Your Financial Management with Reliable Expertise
Ensure your business runs smoothly and efficiently with Shepherd Assurance's professional accounting and bookkeeping services.
We provide accurate financial management, so you can focus on growing your business with confidence.
We provide accurate transaction tracking and record management tailored to your needs.
Financial Reporting
We provde detailed reports to provide insights into your business performance timely.
eXtensible Business Reporting Language (XBRL)
We offer XBRL services to help businesses streamline their financial reporting, ensuring accuracy, transparency, and compliance with regulatory requirements.
Reconciliation Services
We offer comprehensive reconciliation services that ensure the consistency and reliability of your financial data.
Payroll Services
We offer comprehensive payroll services designed to streamline your payroll processes
Cash Flow Management
We offer comprehensive cash flow management services that help businesses monitor, analyze, and optimize the cash flow.
What to Expect from Our Process
1.
Personalized Setup
We customize bookkeeping processes to align with your business’s financial systems.
2.
Accurate Recordkeeping
Your financial transactions are managed with precision and regular updates.
3.
Insightful Reporting
Access timely and detailed financial reports to guide strategic decisions.
4.
Long-Term Support
We ensure consistent financial management and remain available for your evolving needs.
Why choose us?
Our services include accurate financial record-keeping, timely reporting, and expert analysis to ensure your business stays financially healthy and compliant
Accurate Financial Records
We ensure your financial records are meticulously maintained, helping you stay organized and making tax season easier.
Compliance with Regulations
We keep your business compliant with local tax laws and regulations, minimizing the risk of penalties or fines.
Timely Financial Reporting
Our services include timely reporting, ensuring you always have access to up-to-date financial information to make informed decisions.
Cost-Effective Solutions
Outsource your accounting to our team and reduce overhead costs related to hiring and training in-house staff.
Stress-Free Compliance
We provide seamless, hassle-free compliance with all regulatory requirements, ensuring your financial records are accurate and up to date.
Ongoing Support
Our dedicated team is here to answer questions and provide advice whenever you need it.
Let Us Simplify Your Accounting
Experience peace of mind and focus on your business while we take care of your financial management with precision and professionalism.
We provide comprehensive bookkeeping services designed to support the financial health and growth of your business.
Bookkeeping involves the meticulous recording of daily financial transactions, ensuring all business activities are documented in an organized and accurate manner.
This process is crucial for the effective management of your finances, as it focuses on the precise documentation, classification, and categorization of all financial transactions, providing a clear and accurate view of your business’s financial position.
Our bookkeeping services are fully tailored to meet the unique needs of your business, whether you're a small startup or a large corporation.
We place a strong emphasis on accurate transaction tracking, ensuring that every financial action is recorded, and proper record management is maintained.
Our team uses the latest software and techniques to streamline your bookkeeping tasks and ensure that your financial records are always up to date.
We offer flexible bookkeeping solutions with monthly, quarterly, and annual service options, allowing you to choose the best schedule for your business’s needs.
Whether you require ongoing financial oversight or periodic reviews, our services are designed to help you maintain financial clarity, make informed decisions, and stay compliant with relevant regulations.
We provide expert compilation report preparation to assess and showcase your business's financial performance.
Financial reporting is a critical function for any business, offering key insights into its financial health and position.
These reports not only help business owners, investors, and other stakeholders understand the company's financial standing but also play a vital role in making informed decisions that impact the business's future growth and sustainability.
Unaudited financial statements are an essential tool in financial reporting.
They summarize a company’s financial status but have not undergone the formal audit process by an external party.
While they are not as rigorously tested as audited statements, unaudited reports provide a snapshot of financial performance, and they serve the needs of businesses that require timely and detailed insights but do not necessarily require an official audit.
These unaudited financial statements typically include the following:
Income Statement (Profit and Loss Statement):
This document provides a detailed summary of your business’s revenues, expenses, and profits over a specific period.
It helps you gauge profitability and identify trends in income and expenditure.
By analyzing this statement, business owners can make informed decisions about pricing, cost control, and strategic financial planning.
Balance Sheet:
A balance sheet offers a snapshot of your business’s financial condition at a specific point in time.
It lists assets, liabilities, and equity, giving stakeholders a clear understanding of what the company owns (assets), owes (liabilities), and the residual interest of the owners (equity).
This document is vital for assessing the financial stability and liquidity of the business.
Cash Flow Statement:
This statement tracks the movement of cash into and out of the business during a given period.
By breaking down cash flows into operations, investing, and financing activities, it offers transparency into how the business is managing its liquidity.
A solid understanding of cash flow is crucial for ensuring the business can meet its financial obligations and sustain operations.
Statement of Changes in Equity:
This statement outlines the changes in the company’s equity over a specified period.
It typically includes profits, distributions, dividends, and other factors affecting the owner’s equity.
This document is essential for understanding how the company’s value evolves over time and the factors contributing to that growth or decline.
Notes to the Financial Statements:
These notes offer additional context and explanations for the financial data presented in the main financial statements.
They might include details on accounting methods, significant transactions, contingencies, or assumptions that impact the business's financial standing.
These notes are vital for providing a deeper understanding of the financials and ensuring transparency.
Why are Unaudited Financial Statements Important?
Unaudited financial statements are particularly useful for small to medium-sized businesses or startups that need to maintain transparency with investors, creditors, and internal stakeholders.
They are not as detailed or independent as audited statements but still offer significant value:
Internal decision-making:
Business owners and management rely on these reports to make informed decisions about operations, expansion, and budgeting.
External stakeholder communication:
Investors, lenders, and partners often request unaudited statements to evaluate the financial health of a business before making investment or loan decisions.
Compliance and tax filings:
While these reports are not audited, they can still be used for tax preparation and to comply with industry regulations.
Our compilation report preparation service ensures that these statements are prepared accurately, in a timely manner, and tailored to your business's specific needs.
These detailed and reliable financial reports will help you maintain a clear picture of your business’s financial health and can be an invaluable tool for future planning, budgeting, and attracting potential investors.
eXtensible Business Reporting Language (XBRL)
We provide preparation of eXtensible Business Reporting Language – XBRL conversion.
All Singapore (SG) incorporated companies are required to file financial statements (FS) with ACRA, except for those which are exempted.
Some companies will file a full set of FS in XBRL format, while others will file key financial data in XBRL format along with a full set of signed copies of the FS tabled at the annual general meeting and/or circulated to members (AGM FS) in PDF format.
If you own a sole proprietorship, partnership, limited liability partnership, or limited partnership, you are not required to file FS with ACRA.
For the avoidance of doubt, all SG incorporated companies are required to prepare financial statements, except for those which are dormant relevant companies.
Revised XBRL filing requirements
ACRA has revised the filing requirements and data elements in XBRL format for companies.
This is a part of our efforts to streamline the filing of FS.
The effective implementation date for companies to file FS in XBRL format using the revised filing requirements and data elements are as follows:
Companies are required to apply the revised filing requirements and data elements on or after 1 May 2021;
Companies can opt to voluntarily apply the revised filing requirements and data elements from 16 May 2020 to 30 April 2021 (both dates inclusive).
Our firm have provided 2 templates which to be used by mostly the Companies to meet the revised filing requirements and data elements:
Full XBRL template –
The number of data elements for this template has been reduced by 50% to about 210 data elements.
It will capture the information in primary statements and selected notes to FS.
Simplified XBRL template -
This template, which replaces XBRL FSH (General), has about 120 data elements.
It will capture the complete information in the statements of financial performance and position.
eXtensible Business Reporting Language (XBRL)
We provide preparation of eXtensible Business Reporting Language – XBRL conversion.
All Singapore (SG) incorporated companies are required to file financial statements (FS) with ACRA, except for those which are exempted.
Some companies will file a full set of FS in XBRL format, while others will file key financial data in XBRL format along with a full set of signed copies of the FS tabled at the annual general meeting and/or circulated to members (AGM FS) in PDF format.
If you own a sole proprietorship, partnership, limited liability partnership, or limited partnership, you are not required to file FS with ACRA.
For the avoidance of doubt, all SG incorporated companies are required to prepare financial statements, except for those which are dormant relevant companies.
Revised XBRL filing requirements
ACRA has revised the filing requirements and data elements in XBRL format for companies.
This is a part of our efforts to streamline the filing of FS.
The effective implementation date for companies to file FS in XBRL format using the revised filing requirements and data elements are as follows:
Companies are required to apply the revised filing requirements and data elements on or after 1 May 2021;
Companies can opt to voluntarily apply the revised filing requirements and data elements from 16 May 2020 to 30 April 2021 (both dates inclusive).
Our firm have provided 2 templates which to be used by mostly the Companies to meet the revised filing requirements and data elements:
Full XBRL template –
The number of data elements for this template has been reduced by 50% to about 210 data elements.
It will capture the information in primary statements and selected notes to FS.
Simplified XBRL template -
This template, which replaces XBRL FSH (General), has about 120 data elements.
It will capture the complete information in the statements of financial performance and position.
Reconciliation Services
We provide reconciliation services to ensure the management accounts prepared have been improved accuracy and integrity, fraud prevention as well as compliance the financial reporting standards.
Reconciliation services are a critical aspect of financial management that ensure the accuracy and integrity of a company’s financial records.
They involve comparing two sets of records
— typically an internal record (like the company’s accounting ledger) and an external source (like a bank statement)
— to ensure they match and to identify any discrepancies that need to be resolved.
Types of Reconciliation Services:
Bank Reconciliation
This is the process of matching the company’s internal financial records with the transactions recorded by the bank. It helps ensure that the cash balance in the company's ledger is accurate and reflects what’s in the bank.
Credit Card Reconciliation
This is the process of ensuring that all company credit card transactions are correctly recorded in the financial system. It's similar to bank reconciliation but specifically for credit card statements.
Accounts Receivable and Accounts Payable Reconciliation
Ensures that the balances in the accounts receivable (money owed to the company) and accounts payable (money the company owes) are accurate and up to date.
Asset Reconciliation
This process ensures that the company’s recorded asset values (e.g., property, plant, equipment, or intangible assets) match physical or third-party records, including insurance policies.
Loan or Debt Reconciliation
This type of reconciliation is used to ensure that loans, lines of credit, or other financial liabilities are properly recorded and that the company's records match the lender’s statements.
Sales Reconciliation
Ensures that sales recorded in the company’s books match the actual sales revenue generated, often used in retail, online businesses, and service-oriented companies.
Investment Portfolio Reconciliation
This involves reconciling the company's investment portfolio (e.g., stocks, bonds, mutual funds) to ensure that the recorded values are accurate and align with third-party statements (from brokers or investment managers).
General Ledger Reconciliation
This service involves reconciling the balances in the general ledger to ensure they are accurate and complete. It typically involves reconciling sub-ledgers (such as accounts payable and accounts receivable) with the general ledger.
Inventory Reconciliation
Ensures that the inventory records in the company's books match the physical inventory count. This is crucial for businesses that deal with goods and materials.
Payroll Reconciliation
Ensures that the payroll expenses and liabilities (e.g., taxes withheld) are recorded correctly and that the amounts in the company's records match with the actual disbursements.
Intercompany Reconciliation
This process is used by companies with multiple subsidiaries or branches, ensuring that intercompany transactions (such as transfers of goods, services, or funds) are correctly recorded across all entities.
Reconciliation services are a vital part of maintaining accurate financial records.
By regularly reconciling various accounts, businesses can ensure that their financial reporting is accurate, that they are compliant with tax and regulatory requirements, and that they have a clear picture of their financial health.
Different types of reconciliation can be outsourced to specialized firms or handled by internal teams depending on the size and complexity of the organization.
Regular reconciliations help prevent errors, reduce fraud risks, improve financial management, and facilitate timely decision-making.
Payroll Services
Payroll services are essential for ensuring your business remains compliant with tax regulations, provides employees with timely and accurate compensation, and maintains the financial health of your organization.
Handling payroll can be a complex and time-consuming task, especially as your business grows.
Outsourcing payroll services allows you to focus on your core business activities while ensuring that payroll processes are handled efficiently and accurately.
Our comprehensive payroll services cover all aspects of employee compensation and related tasks, including:
Payroll Processing
We ensure that all employees are paid accurately and on time. Our payroll processing service includes:
Calculating employee wages and salaries:
Whether your employees are hourly or salaried, we ensure accurate calculation based on their time worked, overtime, bonuses, or commissions.
Deductions and withholdings:
We handle all necessary deductions, including federal and state taxes, Social Security, Medicare, insurance premiums, and retirement contributions.
Payroll frequency:
We manage payroll on any schedule you choose, whether it’s weekly, bi-weekly, monthly, or according to your unique business needs.
Tax Compliance and Filings
Compliance with tax regulations is a critical aspect of payroll management.
Our payroll services ensure that your business stays in line with all applicable tax laws, both at the federal and state levels.
This includes:
Central Provident Fund (CPF) Contributions
Employee Income Tax Filing (Year-End Tax Filing)
Withholding Tax for Non-Residents
Tax Clearance for Foreign Employees
Bonus and Other Remuneration
Other Deductions
Employee Benefits Administration
Payroll services often extend beyond salary payments to include the administration of employee benefits.
This can include:
Central Provident Fund (CPF) Contributions
Paid Leave
Health and Medical Benefits
Bonuses and Incentives
Retirement and Savings Plans
Flexible Benefits (Flexi-Benefits)
Training and Development
Employee Wellbeing Programs
Childcare and Family-Friendly Benefits
Payroll Records & Reports
We provide regular payroll reports and maintain accurate records for your business.
These reports help you:
Monitor labor costs:
Gain insights into payroll expenses, labor distribution, and trends in employee compensation.
Maintain compliance:
Ensure your payroll records are organized and ready for audits or any compliance reviews.
Support and Consultations
In addition to providing payroll services, we offer ongoing support and consultation for your business, including:
Handling payroll inquiries:
We address any questions from employees about their pay, deductions, or benefits.
Advising on best payroll practices:
We guide you on how to structure compensation packages and handle any payroll challenges that arise.
Why Choose Our Payroll Services ?
Accuracy and Reliability:
We ensure your payroll is processed correctly every time, with no errors or missed deadlines.
Time-Saving:
Outsourcing payroll frees up valuable time, allowing you to focus on growing your business.
Compliance Assurance:
We stay up-to-date with the latest tax laws and regulations, so you don’t have to worry about compliance risks or penalties.
Scalability:
Our services can scale with your business as it grows, from a small team to a larger workforce.
Confidentiality:
We maintain strict confidentiality and security in handling your sensitive employee data.
By outsourcing your payroll services to us, you can ensure that your employees are paid accurately and on time while also minimizing the risk of errors, tax issues, or compliance problems.
Our team of experts is here to handle every aspect of payroll, so you can focus on what you do best – running your business.
Cash Flow Management
Cash flow management is the process of monitoring, analyzing, and optimizing the flow of cash in and out of a business.
Effective cash flow management ensures that a company can meet its financial obligations, invest in growth, and avoid liquidity issues, which are critical for the ongoing health of a business.
Key Elements of Cash Flow Management:
Cash Inflows
Sales Revenue:
The primary source of cash flow for most businesses, coming from selling products or services.
Loans or Credit:
Cash obtained from external sources, such as bank loans, lines of credit, or investor funding.
Investments:
Cash from investments or the sale of assets.
Other Income:
Includes other forms of income like interest, royalties, or government grants.
Cash Outflows
Operating Expenses:
Day-to-day expenses needed to run the business, including salaries, rent, utilities, and office supplies.
Cost of Goods Sold (COGS):
The cost of materials, labor, and manufacturing required to produce goods or services.
Debt Payments:
Payments made toward loans, credit lines, or interest on debt.
Capital Expenditures:
Investments in long-term assets like property, equipment, or technology.
Taxes and Compliance Costs:
Government levies, social security contributions, and other regulatory expenses.
Net Cash Flow
The difference between total cash inflows and total cash outflows over a specific period.
Positive Cash Flow:
Indicates that a business is generating more cash than it is spending, which allows for reinvestment, debt reduction, or savings.
Negative Cash Flow:
Indicates that a business is spending more cash than it is receiving, which could lead to liquidity problems or the need for financing.
Cash flow management is essential for the survival and growth of any business.
By implementing strategies such as optimizing accounts receivable, controlling costs, maintaining a cash reserve, and forecasting cash flow, businesses can ensure they have enough liquidity to meet their obligations, invest in growth, and weather financial challenges.
Effective cash flow management enhances a business's ability to plan, execute, and expand, all while maintaining financial stability.
