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How competitive are Singaporeans digitally across the globe?

  Digital competitiveness is growing at such a rapid rate as more advancements are being made through technology. In this sophisticated and advanced century where people are reliant on technology to survive and grow, research organisations publish reports based on their findings to find out countries’ digital competitiveness across the globe. These reports are based on several criteria that measures countries’ ability to adopt and explore digital technologies leading to …Read More

Should Businesses use automated Time and Attendance System?

  Regular attendance and punctuality are vital attributes for all employees. It is imperative for employees to attend work regularly and to arrive at work on time, because failure to do so detrimentally affects employee morale and productivity. Excessive and unauthorised absenteeism or tardiness is liable for disciplinary action by an organisation, up to and including termination of employment. Organisations may have leave of absence policies to describe an employees’ …Read More

Impact of SST on Malaysia’s Economy

  With Pakatan Harapan’s win over the GE14 Elections, the return of the Sales and Service Tax (SST) after the 3-year implementation of Goods and Services Tax (GST) had been widely discussed. It was one of the most memorable promises made by the new Prime Minister, Mahathir Mohamad, to Malaysia’s citizens. With GST’s implementation that caused many financial problems for business owners and the people of Malaysia, many are wondering …Read More

Why are Accurate Financial Statements important?

Business owners needs the availability of accurate financial statements to make improved business decisions. The significance of financial statements cannot be overlooked, as they are imperative for any organisation. Some of the most important financial statements include: Income Statement, Balance Sheet, Statement of Stockholders’ Equity, Cash Flow Statement and Profit and Loss Account. The numbers revealed through these financial statements play a crucial role in allowing users to make informed …Read More

How do Small and Medium Enterprises affect Singapore’s Economy?

  State of Singapore’s SMEs There are many huge countries with vast lands and abundance of natural resources that maintains a powerful economy, such as China and United States. Singapore, on the other hand, is known for being a small country with limited arable land but surprisingly has one of the world’s strongest economy. Singapore’s economy has an unemployment rate of 2.1% and per capita GDP of nearly S$53,000. This …Read More

The Importance of a Human Resource Management (HRM) System

A human resource management system (HRMS) is a form of HR software that combines a number of systems and processes to ensure the easy management of a business’s employees and data. If many of the processes are still done manually, consider shifting to HR system as it reduces administrative processes due to all main functions of HR are connected and can be easily accessed from one place. The following are …Read More

C & C Auto’s Story: Million Inventory On The Go

C & C Auto is a company based in Johor Bahru, Malaysia that specializes in electronic/audio system repair. They possess the necessary knowledge and tools to repair a wide range of products ranging from car audio systems to home appliances. After the company became a stock supplier from a maintenance centre for brands such as Honda and Toyota, Cai Long Zhi, the person in-charge of C & C, reflected that …Read More

Malaysia to Abolish GST Implementation from 1 June 2018

Why remove GST?  After the 2018 election, the newly elected Prime Minister Mahathir Mohamad intention to scrap a six per cent Goods and Services Tax (GST) within 100 days has economists and budget analysts on edge about the ripple effects. When GST was first introduced on 1 April 2015 at a rate of 6%, it was used to resolve the country’s low inflation rate and weaknesses in the current taxation …Read More

How Million Accounting Software Helped Axer Consultants

Axer Consultants LLP is a group of professional accountants with extensive expertise and experience in Singapore that offers one-stop accounting and taxation services. Being set up in 2010, Axer Consultants LLP manages a customer base of over 100 companies including sole proprietorships and partnerships.   Providing bookkeeping and taxation services to customers, Million Accounting Software is the best choice among the wide range of professional products Million offers. Jack Lin, …Read More

How Accountants Earn Extra Income With Million Payroll Software

A payroll system is imperative for every company to possess as employers have to pay employees for the work and services they have contributed to the company.   An effective and efficient payroll system is one that files employee’s taxes and organizes employee payments. These tasks include tracking of their working hours, calculating salaries, withholding taxes and deductions, printing and delivery pay checks and paying employment taxes to government.   The …Read More