Singapore Expats

Does anyone know much about acra's filing system now that they have change and put in a new style of updating? My secretary tells me that the new format will need her to spend more time hence she has to charge me 1k more? Its too much! Can anyone enlighten me?

Sounds like she's doing a good job already of enlightening you. Or at least enlightening your wallet.

I think she's just taking you for a ride.

Since she is trying to enlightened my wallet. Can anyone prove advice on how to overcome this issue?

Have you tried pricing other Corporate Secretarial Firms or your accounting firm?

kevinkschui wrote:Since she is trying to enlightened my wallet. Can anyone prove advice on how to overcome this issue?

If anything, I would have expected it to be better, and quicker, however......

Our BizFile is now available for transaction. Owing to the overwhelming visits to BizFile, you may encounter temporary connection problem. If you experience any such problems, please try again later. We apologise for any inconvenience caused. We seek your kind understanding on the matter

If she is wasting alot of her time, just trying to get it done, she will probably attempt to charge you and everyone else for it.

I guess she is attempting to pass costs on....although the connection problems are not your problem!

She is pulling a fast one, I would think, once the teething problems are sorted, it should be much quicker, so you should be asking her to reduce your bill, not increase it!

I would shop around, if i was you!

Well...as u know...her corporate bizfile is the accounting firm thats engaged to do up my audit and tax. According to her, its the best price that she is currently offering.

Corporate secretarial firms are a dime a dozen. Shop around.

kevinkschui wrote:Does anyone know much about acra's filing system now that they have change and put in a new style of updating? My secretary tells me that the new format will need her to spend more time hence she has to charge me 1k more? Its too much! Can anyone enlighten me?

She's charging you 1k more for what, precisely? That's more than I paid for all my accounting last year combined, and filing the end of year stuff via ACRA took all of 15 minutes.

jpatokal wrote:

kevinkschui wrote:Does anyone know much about acra's filing system now that they have change and put in a new style of updating? My secretary tells me that the new format will need her to spend more time hence she has to charge me 1k more? Its too much! Can anyone enlighten me?

She's charging you 1k more for what, precisely? That's more than I paid for all my accounting last year combined, and filing the end of year stuff via ACRA took all of 15 minutes.

haha, You can't compare the rate universally....complexity due to business structure and nature factors the cost....

Winxkid wrote:

jpatokal wrote:

kevinkschui wrote:Does anyone know much about acra's filing system now that they have change and put in a new style of updating? My secretary tells me that the new format will need her to spend more time hence she has to charge me 1k more? Its too much! Can anyone enlighten me?

She's charging you 1k more for what, precisely? That's more than I paid for all my accounting last year combined, and filing the end of year stuff via ACRA took all of 15 minutes.

haha, You can't compare the rate universally....complexity due to business structure and nature factors the cost....

Haha! Come on, are we talking MNC here or what? What complexities are you refering too, for example? Just curious, because if there was any complexities, do you really think he would be asking for help in a forum, the online audit is meant to be quicker, he can probably do it himself, if everything is in order....1000$ more because of what, he should be asking! It appears to be total bullshit more than anything, if it's taking her longer, its because she doesn't know how to use the system.

Shop around, is the way to get results if one is not happy!

Winxkid wrote:

jpatokal wrote:She's charging you 1k more for what, precisely? That's more than I paid for all my accounting last year combined, and filing the end of year stuff via ACRA took all of 15 minutes.

haha, You can't compare the rate universally....complexity due to business structure and nature factors the cost....

I've got a Pte Ltd, all the other corporate structure options are even easier to deal with...

But seriously, I still don't understand what, exactly, the "$1k more" is being charged for. Everyday accounting/bookkeeping has nothing to do with ACRA. Yes, your end of financial year reports have to filed with them, but for the average business that should be all?

You are a consumer, and she's providing You a service. If You feel that she's overcharging You, You can always go to other providers. You must hint her and tell her your intention of changing agency due to pricing issue. She's providing a service and has no physical product except labour cost and if Yours is an SME, i don't think it will take up much of her time working on your book.

So, my suggestion is, hint her (indirectly letting her know you might be changing agency). She will knows what to do, trust me

jpatokal wrote:

Winxkid wrote:

jpatokal wrote:She's charging you 1k more for what, precisely? That's more than I paid for all my accounting last year combined, and filing the end of year stuff via ACRA took all of 15 minutes.

haha, You can't compare the rate universally....complexity due to business structure and nature factors the cost....

I've got a Pte Ltd, all the other corporate structure options are even easier to deal with...

But seriously, I still don't understand what, exactly, the "$1k more" is being charged for. Everyday accounting/bookkeeping has nothing to do with ACRA. Yes, your end of financial year reports have to filed with them, but for the average business that should be all?

ACRA plays a big part in money laundering That's why yearly audit and doesn't even allows you to have a discrepancy of a single cent since You are a business entity Anyway, relax, change agency. Make the market competitive, no harm trying

the new changes at ACRA, namely XBRL filing, affects only companies which need to be audited.

is your company audit exempt?

however ACRA filling of Annual Return is only once a year, asking for $1K pay rise is a tad too much

Hi, perhaps i can help you check whether your secretary is overcharging you, but you must state what services does she provide.