Services We Offer
Payroll Administration
YFM handles all aspects of payroll processing, relieving HR professionals to concentrate on staff development, training and compensation planning. Some of the services provided by us are:
- Maintain payroll file for each employee.
- Compute & disburse salary and reimbursements.
- Provide printed or electronic pay advice.
- Process increments and bonuses.
- Process claims from MINDEF for staff on reservist training.
- Process claims for reimbursement of Government-Paid Maternity Leave.
- Process claims for reimbursement of Childcare Leave.
- Provide CPF and other statutory updates.
- Prepare annual Form IR8A.
- Prepare Form IR21 for expatriate.
- Provide payroll reports for management's review monthly & annually.
- Provide payroll reports with Job Credit analysis.
Human Resource Administration
To relieve your HR professionals of routine HR administration, we can help in:
- Leave Administration.
- Medical Claim Administration.
- Training administration.
- Employment Pass / Work Permit application.
- Staff insurance administration.
XBRL Conversion
The Accounting & Corporate Regulatory Authority (ACRA) implemented a new filing requirement for Singapore incorporated companies to file their financial statements (FS) in XBRL format with effect from 1 November 2007.
XBRL stands for eXtensible Business Reporting Language, an open standard used in computers to present financial statements such that they can be retrieved from online records and transferred directly to users such as auditors, regulators, financial analysts for various purposes.
Companies currently file their FS in PDF format. ACRA believes that the use of XBRL will achieve the objectives of facilitating the conduct of business in Singapore. This will provide more value-added financial information and enhance the regulatory environment with improved transparency and timely dissemination of relevant financial information.
Your company will need to file its FS in XBRL format only if it meets the following 2 criteria:
- the company ends on or after 30 April 2007; and
- the company is filling its Annual Returns on or after 1 November 2007
There are two filing options
- Full XBRL - Filing its full set of FS in XBRL format; OR
- Partial XBRL - Filing only its balance sheet, income statement and mandatory information in XBRL format and PDF copy of FS presented at company's AGM.
ACRA have announced on 29 October 2008 in its latest Practice Direction 3 of 2008 that Partial XBRL will continue after 31 October 2008.
YFM can free you of the hassle to convert your FS into XBRL format.
Administrative Services
- Petty cash reimbursement
- Stock records
- Payment to suppliers
We may have access to view and download transaction history and bank statements, and, if desired, to transfer funds between business accounts at your bank. However, we will not have the authority to sign checks or to initiate electronic payments that have not been pre-approved by you or a designated staff member.
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