counto-accounting

[counto-accounting]

🛒 Lazada Fees in Singapore — A Quick Guide for Sellers

Selling on Lazada? It’s a great way for small businesses in Singapore to grow—but let’s be real, the fees can sneak up on you. 😬 Here's a breakdown of the main fees you need to know before listing your products.

💸 1. Commission Fees

Lazada takes a cut from each sale based on your product category. 📌 As of May 2024: Commission rates range from 1% to 4% (can be higher depending on what you sell).

👉 Tip: Always check the latest rates on Lazada Seller Centre and adjust your prices accordingly.

💳 2. Transaction Fees

Every sale comes with a ~2% transaction fee, deducted automatically. This applies to most payment methods (credit card, Lazada Wallet, etc.).

👉 Tip: Include this in your pricing strategy, or it’ll quietly eat into your profits.

🚚 3. Shipping Fees & Free Shipping Programme

Lazada’s Free Shipping Programme boosts sales BUT… ✔ You might have to absorb part or all of the shipping fees. ✔ Lazada offers subsidies, but not always enough.

👉 Tip: Calculate carefully if offering free shipping makes sense for your margins.

📢 4. Lazada Ads = Paid Visibility

Two main ad types: ✅ Sponsored Search Ads ✅ Sponsored Display Ads

These help you rank higher or reach potential buyers, but they come at a cost.

👉 Tip: Only invest in ads if you can track ROI clearly. Don’t just buy traffic—buy profitable traffic.

💸 5. Refund Fees

Yes, even refunds have fees. Lazada charges a small admin fee when processing returns. It’s not huge—but if returns are frequent, it adds up fast.

👉 Tip: Reduce refunds by improving your product descriptions, images, and customer service.

✅ Pro Tips for Staying Profitable

✔ Always price with all fees in mind ✔ Use Lazada Ads strategically ✔ Don’t rush into Free Shipping without running the numbers ✔ Keep an eye on fee structure changes

🟣 Want help managing your Lazada store's finances?

At Counto, we help small businesses: 💼 Track profits 💼 Handle bookkeeping & GST 💼 Stay compliant with IRAS 💼 Simplify accounting for online stores

📌 Learn more 👉 Check out Counto

[counto-accounting]

💼 Types of Accounting Services Every Small Business in Singapore Should Know

Accounting isn’t just about taxes—it’s about keeping your business alive and thriving! Whether you’re DIY-ing your finances or working with an accountant, here’s a quick guide to the essential accounting services you’ll come across as a small business owner in Singapore.

✨ The Essentials

✅ Bookkeeping

Track your daily cash flow, sales, and expenses. It’s the foundation of every accounting system.

✅ Tax Preparation

Get those tax returns done right and on time. Avoid penalties, stay compliant, and maybe even save on taxes.

✅ Financial Statements

Includes:

Income Statements

Balance Sheets

Cash Flow Statements These reports help you understand where your money is really going.

✅ Auditing

No one loves audits, but they ensure your numbers are accurate and you’re playing by the rules.

🎯 The 4 Main Types of Accounting Services in Singapore

1️⃣ Public Accounting

Helps with:

Auditing

Tax filings

Financial advice

2️⃣ Government Accounting

For public agencies and government-funded projects:

Budgeting

Fund tracking

Compliance

3️⃣ Management Accounting

For internal use:

Cost tracking

Budgeting

Business performance analysis

4️⃣ Internal Auditing

Keeps your business in check:

Risk management

Fraud detection

Improving processes

💡 Other Must-Know Accounting Services

✔ Payroll Services — Handle salaries, CPF contributions & taxes. ✔ Forensic Accounting — Investigate financial discrepancies. ✔ Cost Accounting — Understand your production & service costs. ✔ Financial Planning & Analysis — Budgeting + forecasting like a pro. ✔ Business Valuation — Know what your business is really worth.

🤔 Why Outsource?

Outsourcing isn’t just for big companies. It helps you:

Save time

Avoid mistakes

Stay compliant

Focus on running your biz

💼 Counto Can Help

At Counto, we help small businesses:

Keep books tidy

File taxes properly

Run payroll smoothly

Stay fully compliant

And yes—real humans, not just software.

📌 Learn more 👉 Counto Accounting Services

[counto-accounting]

💼 10 Accounting Terms Every Small Business Owner Should Know

Whether you're handling your own books or working with an accountant, knowing these basic accounting terms will make a HUGE difference in understanding your business and staying on top of your finances.

💸 1. Cash Flow

The money moving in and out of your business. Cash flow keeps you alive. Monitor it regularly!

📅 2. Cash-Flow Forecast

A tool that helps you predict future cash inflows and outflows. Perfect for spotting cash shortages before they hit.

📊 3. Financial Statement

Includes your income statement, balance sheet, and cash-flow statement. This is how you know if your business is financially healthy.

🧾 4. Income Statement

Shows your revenues and expenses over a period of time. Helps you figure out if you’re actually making money or not.

💰 5. Gross Profit vs. Net Profit

Gross Profit: Revenue minus direct costs (like materials). Net Profit: What’s left after all expenses.

Know the difference — it’s essential for pricing and profitability!

📍 6. Break-Even Analysis

The point where sales = expenses (aka, you’re not losing or making money yet). Super useful for pricing and sales planning.

➕ 7. Marginal Cost

The cost of making one more unit of your product. Knowing this helps you price smartly.

🧮 8. Balance Sheet

A snapshot of your business’s assets, liabilities, and equity. Think of it like your business’s financial selfie.

📚 9. Accrual Accounting

Revenue and expenses are recorded when they happen, not just when cash is received or paid. Gives a truer picture of your business.

🔥 10. Burn Rate

The rate at which you’re spending your cash reserves. Especially important if you’re running a startup or planning for growth.

✅ Why Does This Matter?

If you understand these terms: ✔️ You’ll make better decisions ✔️ Avoid surprises ✔️ Communicate better with your accountant ✔️ Stay financially healthy

🙌 Want someone to take accounting off your plate?

At Counto, we help small businesses with:

Bookkeeping

Tax Filing

Payroll

Compliance

No hidden fees. No stress. Just real humans who care.

📌 Explore Counto

[counto-accounting]

Singapore Corporate Tax Update 2025: What Your Business Needs to Know

Good news from Budget 2025! If you’re running a business in Singapore, you may be eligible for big tax savings this year—including a 50% tax rebate and a $2,000 cash grant.

📌 Full breakdown 👉 Singapore Corporate Tax Update

🧾 What’s Staying the Same?

🇸🇬 Corporate Tax Rate = 17% Still flat. Still competitive. Still one of the lowest in the world.

✨ What’s New in 2025?

⭐ 50% Corporate Income Tax (CIT) Rebate

✅ Applies to all taxpaying companies ✅ Rebate is capped at $40,000 ✅ Automatically applied when you file

⭐ $2,000 CIT Rebate Cash Grant

✅ You qualify if: 🔹 Your company was active in 2024 🔹 You made CPF contributions to at least one local employee (📌 Shareholder-directors don’t count!)

Do I Need to Apply?

Nope! IRAS will automatically: ✅ Apply the CIT Rebate ✅ Disburse the $2,000 cash grant (if eligible) by Q2 2025 ✅ Issue revised tax assessments by August 2025

📩 What If I Qualify but Don’t Receive the Grant?

You can appeal to IRAS via myTaxMail by 30 November 2025 Subject line: “Appeal for CIT Rebate Cash Grant” ✅ Include supporting docs

✅ Quick Checklist for Business Owners

✔️ File your ECI and tax returns accurately ✔️ Don’t include the rebate manually ✔️ Make CPF contributions for at least one employee (not you!) ✔️ Watch for payout by Q2 2025 ✔️ Need help? We've got you 👇

💼 Make Tax Season Easy with Counto

From tax filing to CPF contributions to IRAS compliance—we handle it all in-house so you can run your business without the stress.

✅ Transparent pricing ✅ Real-time support ✅ No surprise fees

📌 Explore our plans 👉 counto.sg 📬 Or email us: hello@mycounto.com

[counto-accounting]

How Much Do Accounting Services Cost in Singapore?

Running a small business in Singapore? You’ve probably asked yourself: "How much should I really be paying for accounting?"

The short answer: S$90 to S$1,500/month. But the better answer? It depends on your needs—and the value you’re getting.

📌 Get the full breakdown here 👉 Counto’s Pricing Guide

🔍 What Affects Accounting Costs?

Every business is different, so pricing varies. Here’s what influences how much you’ll pay:

💼 Business Size & Complexity More revenue = more transactions = more time needed.

🏢 Your Industry Highly regulated businesses (like finance or F&B) may need extra reporting.

⚙️ Tech Used by Your Accountant Some firms use automation to reduce cost & errors (like we do at Counto).

📆 Reporting Frequency Monthly reporting typically costs more than annual-only services.

💬 Common Services & What They Cost

🧾 Bookkeeping

✅ Recording transactions ✅ Bank reconciliations ✅ Monthly reports 💰 From S$90 to S$800/month

🧮 Tax Preparation

✅ Corporate tax filing with IRAS ✅ Form C/C-S submission 💰 S$400–S$2,000/year

📊 Full-Service Accounting

✅ Bookkeeping ✅ Tax filing ✅ Payroll ✅ GST 💰 S$250–S$1,500/month

👉 Great for business owners who want to focus on growth, not admin.

📄 Financial Statements

✅ Unaudited statements required for ACRA & tax compliance 💰 S$250–S$800/year

👥 Payroll Services

✅ Salary processing ✅ CPF contributions ✅ Leave tracking 💰 S$15–S$40 per employee/month

💡 Why Fixed-Fee Pricing Matters

Some firms charge based on how many transactions you do 😬 Others (like Counto) offer fixed-fee plans—no surprise charges, no scaling costs.

📌 That means you can budget with confidence and spend less time worrying about what’s billable.

📌 No per-transaction charges. Ever. 🔗 Explore plans 👉 View Counto Pricing

✅ TL;DR

✔️ Accounting costs in SG range from S$90–S$1,500/month ✔️ Factors: business size, industry, tech, and reporting needs ✔️ Fixed-fee pricing = stress-free budgeting ✔️ Choose value over the cheapest price

📣 Tired of unclear fees and slow replies? Counto offers flat pricing, real-time support, and in-house experts. 📬 Talk to us 👉 Contact Counto

[counto-accounting]

💰 What is the Payroll Cycle & How Do You Choose One?

The payroll cycle determines how often employees get paid. In Singapore, most businesses follow:

✅ Monthly Payroll – Paid on the last working day of the month (most common). ✅ Fortnightly/Weekly Payroll – Common in retail, hospitality & F&B for better cash flow. ✅ Legal Deadline: Salaries must be paid within 7 days after the payroll cycle ends.

📊 What Goes into Payroll? (It's More Than Just Salaries!)

Payroll includes more than just base salaries—it also involves:

💵 Basic Salary – Agreed fixed pay in employment contracts. ⏳ Overtime Wages – Governed by the Employment Act. 📌 CPF Deductions – Employer contributions based on salary & employee age. 📑 Skills Development Levy (SDL) – 0.25% of salary (Min: $2 | Max: $11.25 per employee). 📅 Tax Reporting – Includes AIS (Auto-Inclusion Scheme) & IR21 tax clearance for foreign employees leaving Singapore.

📌 Struggling with payroll calculations? Let us handle CPF, taxes, and compliance for you!

🔗 Get expert payroll support 👉 Talk to our team

2️⃣ Skills Development Levy (SDL)

💰 Mandatory for all employers in Singapore. 💰 Calculated at 0.25% of an employee’s gross salary. 💰 Min: $2 | Max: $11.25 per employee/month.

3️⃣ Tax Compliance for Employers

📌 AIS Submission Deadline – File employee income details by 1 March 2025. 📌 Form IR21 – If a foreign employee leaves Singapore, employers must submit Form IR21 at least 1 month before departure.

🚀 How to Streamline Payroll & Stay Compliant

✅ Use Payroll Automation – Cut down on manual calculations & errors. ✅ Keep Records for 5 Years – Required by CPF Board & IRAS. ✅ Stay Updated on Regulations – Follow MOM, IRAS & CPF updates. ✅ Secure Payroll Data – Use encrypted payroll systems for security.

📌 Tip: Automating payroll ensures accurate CPF & tax deductions while avoiding late payments!

💼 Counto’s Payroll Management: Stress-Free, In-House Support

Tired of payroll headaches? We handle everything in-house — salary payments, CPF deductions, tax filings, and compliance deadlines — as an add-on service in your Counto accounting plan.

✅ On-time salary payments & CPF deductions ✅ Real support — Get direct access to your Customer Success Manager via WhatsApp or phone.

📌 Get started today 👉 Talk to us

[counto-accounting]

🚚 How to Start a Food Truck Business in Singapore – Your Ultimate Guide

Starting a food truck business in Singapore is an exciting way to enter the F&B industry without the high costs of a restaurant. But before you hit the road, you’ll need to secure the right licences, find the best locations, and market your brand effectively.

📌 Get the full step-by-step guide 👉 How to Start a Food Truck in Singapore

🍔 Why Start a Food Truck?

🚀 Low startup costs – No expensive restaurant rent 🚀 Flexibility – Move to events, business districts & parks 🚀 Direct customer engagement – Build a loyal following

📜 Licences & Permits You Need

✅ Business Registration (ACRA) – Sole Proprietorship or Private Limited Company ✅ Food Shop Licence (SFA) – Required for all food establishments (S$195/year) ✅ Mobile Food Vendor Licence – Allows truck operation in approved areas ✅ Food Hygiene Certificate – At least one team member must complete this ✅ Other permits – Selling alcohol? You’ll need a liquor licence.

📌 Skip the paperwork hassle! Counto helps with business registration & compliance so you can focus on launching your food truck.

🔗 Get expert help 👉 Talk to us

📍 Where Should You Park Your Food Truck?

Not every location is food-truck friendly. Here’s where to look: 🏢 Business districts – High lunch traffic during weekdays 🎡 Events & festivals – Large crowds, premium pricing opportunities 🌳 Parks & recreational areas – Weekend family traffic 🏘️ Residential neighbourhoods – Dinner rush & weekend brunch

🍽️ How to Run a Successful Food Truck

✔ Keep the menu simple – Focus on fast, high-quality dishes ✔ Follow food safety rules – SFA compliance is a must! ✔ Use social media – Post daily updates on Instagram & TikTok to attract customers ✔ Optimise pricing – Consider bundle deals or happy hour discounts

📣 Marketing & Branding for Your Food Truck

📢 Social media is your best friend! 🔹 Announce daily locations & menu specials on Instagram, Facebook & TikTok 🔹 Offer exclusive discounts for followers 🔹 Partner with food bloggers & influencers for shoutouts

📌 Engagement drives sales – build a loyal food-loving community!

🚀 Ready to Start? Let Counto Handle Your Business Setup

📌 Incorporating a company, registering for licences, and handling compliance can be time-consuming. Let us do the heavy lifting while you focus on your food truck!

🔗 Get started today 👉 Talk to our experts

[counto-accounting]

🚀 Live Accounting, Instant Insights – The Future of Finance is Here

📢 Tired of waiting for updates on your financials? Counto brings you real-time accounting status tracking – so you’re never in the dark.

✨ Now you can track your financial processes in near real-time – from document uploads to ledger entries, payments, and approvals. No more guessing, no more delays.

🔗 Full details 👉 Read the full breakdown here

💡 Seamless Tracking for Your Essential Documents

📂 Imagine this: You just uploaded a batch of invoices, and some require special handling. Let’s say payments to Caesar Inc. need to happen exactly 60 days after upload.

💡 With Counto’s AI-powered, multi-agent system, here’s what happens next: ✅ Automatic data extraction (no manual entry!) ✅ Your custom rules applied instantly ✅ Ledger entries generated automatically ✅ Payments scheduled through BillPay ✅ Real-time status updates – at every step

📢 See how Counto’s real-time accounting and automation works in this quick video!

🎥 Watch the demo below ⬇️

📊 Real-Time Insights = More Control Over Your Finances

🚀 What makes Counto’s real-time accounting game-changing? 🔹 No more blind spots – Always know what’s happening with your books. 🔹 Smarter decision-making – Stay ahead of your cash flow and expenses. 🔹 Full automation – So you can focus on running your business, not chasing numbers.

💡 The future of accounting isn’t coming – it’s already here.

⚡ Stay Ahead with Counto

📢 Ready to experience the power of real-time accounting? ✨ Try it today with Counto – AI-powered, automation-driven, and built for businesses like yours.

📩 Let’s talk! Contact us to get started.