Payroll and Expense Claim Services for Singapore Companies
Having to rectify errors in expense claims can be a costly affair for companies, both in monetary and non-monetary terms. Companies that use inefficient manual processes such as forms and spreadsheets to process business and travel expense claims often encounter missing or faded receipts, or find errors in claim reconciliation figures.
With a Payroll and Expense Claim Management Software, you can eliminate such errors, track and manage employee expense claim with minimal administration and maximum efficiency. Reclaim full control over your expense claim process and save your company time and money.
Our Payroll and Expense Claim Software offers:
- Multi-level claim approval chains that can take place anywhere; web or mobile
- Auto calculations of exchange rates, net amount
- Digital receipt management to allow for the easy digital capture of receipts and automatic parsing of receipts into expense report entries
- Customisable claim form formats to suit your workflow needs
- Integration with your Payroll Software to seamlessly upload expense tabulation reports and streamline reimbursement of claims along with salaries
- Unlimited access to web and mobile-based expense claim management interface
People also ask
- Singapore has a Goods and Services Tax (GST) whose current rate is 7 percent. It is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. All Singapore companies with annual turnover exceeding S$1 million are required to register for collecting GST. Other companies may also choose to register for GST voluntarily after careful consideration. Once registered for GST, a company must charge GST on its supplies at the prevailing rate. This GST that is charged and collected is known as output tax. Output tax must be paid to IRAS.
- Singapore has the progressive resident rates for personal taxation ranging from zero to 22 percent with the topmost rates kicking in at S$320,000 annual income.
- Yes, you can. The GST that a company incurs on business purchases and expenses (including import of goods) is known as input tax. If your business satisfies the conditions for claiming input tax, you can claim the input tax on your business purchases and expenses. This input tax credit mechanism ensures that only the value added is taxed at each stage of a supply chain. While the output tax is what you charge as GST from your customers for your services or supplies. The difference between the output and input tax is the net GST payable to IRAS or refunded by IRAS.
- Skills Development Levy (SDL) contribution is payable by employers for all employees up to the first $4,500 of gross monthly remuneration at the rate of 0.25% or $2, whichever is higher. This is payable for all employees and is used to support workforce upgrading programmes, as well as provides training grants to employers.
Save time and reduce costs by outsourcing your expense claim management
Expense claim management can be a breeze with our game-changing Payroll and Expense Claim Management Software. Be served by a dedicated Payroll & Expense Claim specialist when you engage our services or software.