Company or Common Seal in Hong Kong: Does your company need it?
A comprehensive guide to common seal in Hong Kong and whether your company needs it.
2 min read
All You Need to Know About Appointing a Data Protection Officer For Your Company
Are you ready to select a Data Protection Officer to comply with Singapore’s Personal Data Protection Act? We’ll take you through the importance of choosing one, and tips to select the best person for the job.
6 min read
How Entrepreneurs in Singapore can Pay Less Tax Legally
Did you know that you can reduce your company’s taxable income and pay less tax to IRAS by writing off some of your business expenses? But which expenses can a company deduct from its income? We break it down for you.
6 min read
Guide to Hong Kong Tax for SME Owners
Hong Kong can boast one of the simplest and cheapest tax systems in the world. Is there a value-added tax? No such thing. How about a withholding tax or a capital gains tax? Again — nope. We will explain which taxes for private limited companies do exist in Hong Kong and how to pay them.
10 min read
FTSE Index
The FTSE is a stock market index that indicates how well the economy is doing. The number after the letters (i.e. FTSE 100, FTSE 250, etc) tells you how many of the
5 min read
What is a Business Registration Number (BRN)?
We explain everything you need to know about BRNs. This article is for people relocating their business to Hong Kong and those looking to incorporate a company there.
3 min read
Everything You Wanted to Know About EBITDA Explained by an Investor
How to calculate EBITDA and, most importantly, why? A practicing financial analyst and investor Dan Satkunas explains how to assess business decisions based on EBITDA margin—and makes it all look quite interesting.
10 min read
Equity
Equity is a broad term. In its most general meaning, equity is an equilibrium, or “a state when the two parties are even.” Jack fulfilled all his obligations to Tom and vice versa.
8 min read
Contra Account
A Contra account balances out associated accounts in the general ledger. If the main account is recorded as a debit, its contra account is a credit and vice versa. If you wish to
3 min read
How Accounting Is Different from Bookkeeping?
In short, bookkeepers record transactions of your company, then accountants summarise, interpret and report them. We explain who needs both specialists and why a bookkeeper can't substitute an accountant.
4 min read
Cash Book
A cash book is a part of a company’s bookkeeping and accounting processes. It usually looks like a paper notebook or a computer program where you write down all financial operations taking
3 min read
Accrual Accounting
Accrual Accounting is one of two methods of keeping your financial records. Its main feature is that you make an entry in your books when you make a deal, not when cash actually
3 min read
Hire Purchase
Hire purchase is an agreement that lets you buy expensive goods without paying the whole price right away. The difference from a purchase on credit is that you do not own the item
6 min read
Pointers to Get Your ID Approved by Companies Registry on Your First Try
When setting up a company in Hong Kong, foreign directors and shareholders must submit a notarized copy of their ID. We explain how to obtain a document that will pass the requirements
2 min read
2,000 Osome Clients
It took us 15 months to grow the first 1,000 clients. Now, only six months later, another 1,000 business owners joined us. Thank you for trusting Osome!
1 min read
2,000 Osome Clients
It took us 15 months to grow the first 1,000 clients. Now, only six months later, another 1,000 business owners joined us. Thank you for trusting Osome!
1 min read
Osome Becomes Xero’s Gold Partner
Osome has received the gold partner status from Xero, a cloud-based accounting software platform. With only 30 Singapore companies holding this title, Xero recognizes Osome expertise in bookkeeping, accounting, and taxation.
2 min read
Osome Becomes Xero’s Gold Partner
Osome has received the gold partner status from Xero, a cloud-based accounting software platform. With only 30 Singapore companies holding this title, Xero recognizes Osome expertise in bookkeeping, accounting, and taxation.
2 min read
Big Ben, Victoria Peak, and $3 Million
Osome announced a $3 million financing led by Target Global. The new investment will help expand its technology platform to the UK and Hong Kong, and already started testing these markets.
2 min read
Big Ben, Victoria Peak, and $3 Million
Osome announced a $3 million financing led by Target Global. The new investment will help expand its technology platform to the UK and Hong Kong, and already started testing these markets.
2 min read
Osome achieves Xero Platinum status in 3 months
Xero, the global small business platform, awarded Osome with a platinum partner status. This is the highest level of recognition that Xero offers to their counterparts, with only 3 other companies in Singapore holding the title.
2 min read
Osome Becomes Xero Platinum Partner in Just 3 Months
Xero, the global small business platform, awarded Osome with a platinum partner status. This is the highest level of recognition that Xero offers to their counterparts, with only 3 other companies in Singapore holding the title.
2 min read
Traditional Banks vs. Neobanks: Whose Business Account Suits You Best
The so-called neobanks offer online banking, and they are affordable. So is opening a business account with a neobank a good idea? How is it different from turning to a regular bank? Let’s find out
5 min read
Book Value
2 min read
Bad debts
Bad debts of your business are the money that you are sure you will not collect. You only have to record the bad debts if your business sticks to the accrual accounting principle
2 min read
Chart of accounts
A chart of accounts (COA) is a list of all your company’s accounts in the general ledger, divided into subcategories, registered in a specific accounting period. For example, when your business has
2 min read
Deductible
The term “deductible” in accounting is usually applied to the expenses your company has — “deductible expenses”. You can deduct these expenses from your profit before you report your taxable income to HMRC — the
2 min read
Council Tax Break
What Is Council Tax & Council Tax Break? What Are Council Tax Bands? Who Pays Council Tax? How To Pay Council Tax Bill? What Is Council Tax & Council Tax Break?Council tax is
4 min read
Markup
Markup is the difference in the amount of money you paid for the product against what your customer paid for it. In other words, it is how much money you charge on top
3 min read
Liability
Liabilities are anything that your business owes to anyone — banks, suppliers, your own employees or even your clients if they launch a lawsuit against your business and the court obliges you to pay.
4 min read
Cash accounting
Cash accounting method or cash accounting basis is a way of recording your sales and purchases when you make a note about them in the ledger at the time money comes to your
2 min read
Closing balance
A closing balance is an amount of funds your business has at the end of a particular chosen accounting period — a day, a month, a quarter or a year. Once you calculate the
2 min read
Opening balance
An opening balance is the amount of funds your company has at the beginning of an accounting period you want to analyse or the one you report to the tax authority: a day,
1 min read
KPI
What is a Key Performance Indicator? Types of Key Performance Indicators What KPIs are important for my business? How do I identify relevant KPIs? Examples of KPI What is a Key Performance Indicator?
4 min read
Liquidity
What are current assets and current liabilities? How to measure liquidity? How to increase liquidity? Liquidity vs solvency Liquidity is a touchstone of your company’s ability to pay its bills and debts
5 min read
Invoice
An invoice is a way to get payment from your client, for example, if you sell coffee beans to the coffee shops — you issue invoices for them to pay. Or if you have
2 min read
Billing
When you sell your goods and services, you want money for them — and bill your customers. Billing works like this: you provide a service, you issue an invoice, the customer makes the payment,
2 min read
Petty cash
Petty cash is a certain sum of money (obviously, in cash) that your business keeps at hand, in case you need to pay for some small and not expected expenses. It is better
2 min read
Ledger
A ledger, or general ledger, or general journal or just GL covers all the financial information about your company. The data on a ledger helps you guide your income and see quickly how
2 min read
Working capital
Working capital, also known as net working capital or NWC is the net liquid assets of your company — which is calculated by deducting current liabilities from the current assets. How much available working
4 min read
Osome achieves Xero Platinum status in 3 months
Xero, the global small business platform, awarded Osome with a platinum partner status. This is the highest level of recognition that Xero offers to their counterparts, with only 3 other companies in Singapore holding the title.
2 min read
One-Stop for E-govt Services in Singapore: Why Register for CorpPass
CorpPass is a one-stop authentification platform that helps your business interact with the authorities. We explain what the use of it is, who must sign up for CorpPass, and how to register.
3 min read
Invoice factoring
Invoice factoring can also be referred to as accounts receivable factoring, just factoring, or sometimes accounts receivable financing. This type of financial transaction allows a business to sell its accounts receivable (invoices) to
2 min read
National Insurance
National insurance or National insurance contributions (NIC) is a tax in the UK which both employees and employers pay. You must pay it if you fall under certain conditions, though, you can also
4 min read
Capital expenditure
Capital expenditure, or capital expense, or CAPEX is expenses your company incurs to generate benefit in the future. CAPEX goes in contrast with OPEX — which stands for the day-to-day costs of the company.
3 min read
3 Сases When It Makes Sense to Register for GST Voluntarily and 1 Case When It Doesn’t
You don't have to register for GST until your revenue is above S$1M. However, you can choose to register earlier as sometimes it can hep you save money. Let's see how it works!
4 min read
Operating expenditure
Operating expenditure, operating expenses (OPEX) or manufacturing expenses are the costs that your company incurs while the main product of your business is being produced. OPEX include: MaterialsLabour costsMachineryThe energy needed to produce
2 min read
Non-executive Director
A non-executive director is a person in your company who is the one on the board of directors who does not have any executive powers. This person does not take part in the
4 min read
HMRC
Her Majesty’s Revenues and Customs (HMRC) is the main tax collecting authority in the UK. It is responsible for collecting: Income TaxCorporation TaxCapital Gains TaxInheritance TaxInsurance Premium TaxStamp DutyLand and Petroleum Revenue
4 min read
Exit strategy
4 min read
