Operating a successful restaurant is no easy task, and there are certain actions that every savvy restaurant owner should avoid. Let's check out these 5 main actions restaurant owners should avoid and how to overcomes it:

1️⃣ Select a Wrong Location

2️⃣ Fully Dependent on One Chef

3️⃣ Did Not Maintain Taste Consistency

4️⃣ Fail to Manage Inventory

5️⃣ Bad Service Experience

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#InvoiceNow tips

2 main ways how e-invoicing helps businesses?

IMPROVE CASH FLOW MANAGEMENT: E-invoicing contributes to faster payment from business customers as the customers can process invoices more efficiently. This helps to free up working capital and improves cash flow management.

IMPROVE SUPPLIER RELATIONSHIP: E-invoicing allows for more efficient processing of supplier invoices and helps with on-time payments. This helps build credibility and trust with business suppliers ensuring uninterrupted supplies.

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📢Visit us at 𝗦𝗠𝗘𝗜𝗖𝗖! A conference series organized by Singapore Chinese Chamber of Commerce & Industry (SCCCI), with the theme this year “Leadership Next: Rising Above Adversity” with numerous special guests’ appearance, you wouldn’t want to miss it!🤩


And find out more on 📥 𝗔𝘂𝘁𝗼𝗖𝗼𝘂𝗻𝘁 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗙𝗶𝗹𝗶𝗻𝗴 technology which officially recognized by the authorities such as 𝗜𝗥𝗔𝗦 and 𝗔𝗖𝗥𝗔, witness live demo, and obtain more info on 📄 𝗜𝗻𝘃𝗼𝗶𝗰𝗲𝗡𝗼𝘄 or find out more about grants and subsidies such as 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗚𝗿𝗮𝗻𝘁 (PSG) and more!!💻


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𝗗𝗮𝘁𝗲: 15-16 August 2023
𝗧𝗶𝗺𝗲: 9am - 3:30pm
𝗩𝗲𝗻𝘂𝗲: Suntec Singapore Convention & Exhibition Centre
𝗕𝗼𝗼𝘁𝗵: C23


See you there!


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We wishes everyone a joyful and memorable Singapore National Day! 🇸🇬 Happy birthday, Singapore! 🇸🇬

📢 2 DAYS TO GO!! Visit us at 𝗦𝗠𝗘𝗜𝗖𝗖 this Tuesday!

And find out more on 📥 𝗔𝘂𝘁𝗼𝗖𝗼𝘂𝗻𝘁 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗙𝗶𝗹𝗶𝗻𝗴 technology which officially recognized by the authorities such as 𝗜𝗥𝗔𝗦 and 𝗔𝗖𝗥𝗔, witness live demo, and obtain more info on 📄 𝗜𝗻𝘃𝗼𝗶𝗰𝗲𝗡𝗼𝘄 or find out more about grants and subsidies such as 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗚𝗿𝗮𝗻𝘁 (PSG) and more!!💻

Visit AutoCount at:
𝗗𝗮𝘁𝗲: 15-16 August 2023
𝗧𝗶𝗺𝗲: 9am - 3:30pm
𝗩𝗲𝗻𝘂𝗲: Suntec Singapore Convention & Exhibition Centre
𝗕𝗼𝗼𝘁𝗵: C23

See you there!

𝗩𝗜𝗦𝗜𝗧 𝗨𝗦 𝗡𝗢𝗪 at SMEICC Conference, Suntec Singapore Convention & Exhibition Centre.
𝗧𝗢𝗗𝗔𝗬 & 𝗧𝗢𝗠𝗢𝗥𝗥𝗢𝗪, 𝟵𝗮𝗺 - 𝟯:𝟯𝟬𝗽𝗺, 𝗕𝗼𝗼𝘁𝗵 𝗖𝟮𝟯!
Find out more on 📥 𝗔𝘂𝘁𝗼𝗖𝗼𝘂𝗻𝘁 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗙𝗶𝗹𝗶𝗻𝗴 technology which officially recognized by the authorities such as 𝗜𝗥𝗔𝗦 and 𝗔𝗖𝗥𝗔, witness live demo, and obtain more info on 📄 𝗜𝗻𝘃𝗼𝗶𝗰𝗲𝗡𝗼𝘄 or find out more about grants and subsidies such as 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗚𝗿𝗮𝗻𝘁 (PSG) and more!!💻
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#GST rate change tips
“𝗛𝗼𝘄 𝗮𝗯𝗼𝘂𝘁 𝗧𝗿𝗮𝗱𝗲-𝗶𝗻?”🤨🤔

What is the GST rate applicable when I trade in my old equipment previously purchased at a GST rate of 8% for a new one 𝗼𝗻 / 𝗮𝗳𝘁𝗲𝗿 1 Jan 2024?

✒️According to IRAS, it will be 9%, as trade-in transactions are regarded as two supplies for GST purposes. Similarly, when you purchase the new equipment via a trade-in on/ after 1 Jan 2024, your supplier would have to charge 9% GST on the full price of the new equipment.

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🇸🇬

📢 Visit us at 𝗦𝗠𝗘 𝗖𝗲𝗻𝘁𝗿𝗲 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝟮𝟬𝟮𝟯! View product demo and find out more on our coming special promo!

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🕘 Time: 𝟵𝗮𝗺-𝟱𝗽𝗺
📍 Venue: 𝗠𝗮𝗿𝗶𝗻𝗮 𝗕𝗮𝘆 𝗦𝗮𝗻𝗱𝘀 𝗘𝘅𝗽𝗼 & 𝗖𝗼𝗻𝘃𝗲𝗻𝘁𝗶𝗼𝗻 𝗖𝗲𝗻𝘁𝗲𝗿
🎟 Booth: 𝗕𝟬𝟰

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#GST Rate Change Tips!

𝗚𝗲𝘁𝘁𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗥𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗦𝗲𝗰𝗼𝗻𝗱 𝗚𝗦𝗧 𝗥𝗮𝘁𝗲 𝗖𝗵𝗮𝗻𝗴𝗲🔺

3 common errors to avoid when preparing for second GST rate change. (Source: IRAS)

#1️⃣: Charging GST at 9% before 1 Jan 2024.
#2️⃣: Charging or displaying GST at 8% from 1 Jan 2024.
#3️⃣: GST amount is computed correctly but wrong GST rate is reflected on receipts/invoices issued.

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🇸🇬 #tax #Singapore #singaporetax #taxreporting #sffs #seamlessfiling #mytax #singaporeGst #Gstratechange #accounting #accountingsoftware #autocount #iras

#GSTtaxBytes From 1 Jan 2024, GST will increase from 8% to 9%. 👉🏼 If you are a GST-registered business, click here to find out how to get your business ready

Subscribe to taxBytes@IRAS for the latest GST updates and tips.

📢 𝗩𝗶𝘀𝗶𝘁 𝗔𝘂𝘁𝗼𝗖𝗼𝘂𝗻𝘁 at Accounting & Finance Show 2023!

The 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴 & 𝗙𝗶𝗻𝗮𝗻𝗰𝗲 𝗦𝗵𝗼𝘄 Asia is now in its sixth year and is the go-to event for 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 and 𝗳𝗶𝗻𝗮𝗻𝗰𝗲 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻𝗮𝗹𝘀 from 𝗦𝗠𝗘𝘀, 𝗘𝗡𝗧𝗘𝗥𝗣𝗥𝗜𝗦𝗘 and 𝗔𝗖𝗖𝗢𝗨𝗡𝗧𝗜𝗡𝗚 𝗙𝗜𝗥𝗠𝗦 across the region looking to discover and implement the latest digital innovations in technology solutions for their organizations.

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🕘 Time: 𝟴:𝟯𝟬𝗮𝗺 - 𝟲𝗽𝗺
📍 Venue: 𝗦𝘂𝗻𝘁𝗲𝗰 𝗖𝗼𝗻𝘃𝗲𝗻𝘁𝗶𝗼𝗻 𝗖𝗲𝗻𝘁𝗿𝗲, 𝗦𝗶𝗻𝗴𝗮𝗽𝗼𝗿𝗲
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~~~

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🕘 Time: 𝟴:𝟯𝟬𝗮𝗺 - 𝟲𝗽𝗺
📍 Venue: 𝗦𝘂𝗻𝘁𝗲𝗰 𝗖𝗼𝗻𝘃𝗲𝗻𝘁𝗶𝗼𝗻 𝗖𝗲𝗻𝘁𝗿𝗲, 𝗦𝗶𝗻𝗴𝗮𝗽𝗼𝗿𝗲
🎟 Booth: 𝗖𝟭𝟯

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*Terms and Conditions Apply.

~

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AutoCount: Leveraging InvoiceNow for Tax Administration💡

READ IT HERE:
https://www.iras.gov.sg/news-events/newsroom/new-digital-solution-ideas-deepening-partnerships-at-the-16th-forum-on-tax-administration-plenary-2023

#GST Rate Change Tips!

Communicating reasons for price/fee increases to consumers. (Source: IRAS)

A warm reminder from IRAS, business are advised to be transparent in communicating the reasons for price increases to consumers, if there are price increase due to other reason besides GST, businesses should explain the main reasons for the increase in price, and not misinterpret the situation to consumers by attributing the price increases primarily or solely to the increase in GST.

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We’re now into the #CorporateIncomeTax2023 Filing Season. Companies are strongly encouraged to file their Corporate Income Tax Returns (Form C-S/ Form C-S (Lite)/ Form C) early, ahead of the 30 Nov 2023 deadline.

Find out more here 👈🏻

📢📢 It's 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗜𝗻𝗰𝗼𝗺𝗲 𝗧𝗮𝘅 𝗙𝗶𝗹𝗶𝗻𝗴 𝗦𝗲𝗮𝘀𝗼𝗻 again! 📋
Corporate are encourage to file their Corporate Income Tax Return early, ⚠️ 𝗯𝗲𝗳𝗼𝗿𝗲 𝟯𝟬 𝗡𝗢𝗩𝗘𝗠𝗕𝗘𝗥 𝟮𝟬𝟮𝟯! ⚠️

~~

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