Comprehensive Payroll and Expense Claim Management Services in Singapore

Why Are Payroll and Expense Management Important?

Efficient payroll and expense management are crucial for businesses in Singapore to avoid penalties, maintain smooth operations, and foster employee trust. Here's why it matters:

1. Avoid Penalties

   • Non-compliance with regulations from IRAS, the CPF Board, and other authorities can result in hefty fines and audits.

2. Enhance Employee Satisfaction

   • Accurate and timely salary payments, coupled with efficient expense reimbursements, foster trust and improve employee engagement.

3. Streamline Operations

   • Automating payroll and expense claims reduces administrative burden and minimizes errors.

Steps in Payroll and Expense Management

Managing payroll and expense claims involves several key steps to ensure compliance and accuracy:

1. Setting Up Payroll and Expense Policies

   • Establishing policies based on company needs and regulatory requirements.

2. Data Collection

   • Gathering employee information, attendance records, and expense receipts.

3. Processing Payroll and Expense Claims

   • Calculating salaries, CPF contributions, overtime, allowances, and expense reimbursements.

4. Issuing Payslips and Reimbursement Statements

   • Providing itemised payslips and detailed expense claim reports.

5. Statutory Submissions

   • Filing CPF contributions, Skills Development Levy (SDL), and Foreign Worker Levy (FWL).

6. Annual Reporting

   • Preparing tax reports such as Form IR8A, Appendix 8A, and Appendix 8B.

Key Payroll and Expense Management Features

Our advanced payroll and expense claim software includes:

• Multi-Level Claim Approvals: Streamline approvals via web or mobile platforms.
• Automated Exchange Rate Calculations: Ensure accurate reimbursement amounts for foreign transactions.
• Digital Receipt Management: Capture and store receipts digitally, automatically parsing them into expense entries.
• Customisable Formats: Adapt claim forms to your workflow needs.
• Seamless Integration: Integrate with payroll systems to combine reimbursements with salary disbursements.
• Mobile and Web Access: Manage claims anytime, anywhere.

Compliance and Reporting

1. Payroll Regulations

   • Salaries must be paid within 7 days after the salary period.
   • CPF contributions must be filed accurately for Singapore Citizens and Permanent Residents.

2. Expense Claim Compliance

   • Ensure all reimbursed claims are documented and aligned with company policies.

3. Income Tax Reporting

   • Include expense reimbursements in annual tax filings when applicable.

Why Choose Apexia Corporate Advisory for Payroll and Expense Management?

Outsourcing payroll and expense management to Apexia Corporate Advisory ensures:

1. Compliance Expertise

   • Stay updated with the latest regulations to avoid penalties.

2. Streamlined Processes

   • Automate and simplify payroll and expense workflows for efficiency.

3. Customised Solutions

   • Tailored services to meet your unique business needs.

4. Peace of Mind

   • Focus on growing your business while we handle payroll and expense complexities.

Contact Apexia Corporate Advisory Today

Simplify your payroll and expense claim management with Apexia Corporate Advisory's professional services. Get in Touch to learn how we can help you streamline processes, ensure compliance, and enhance employee satisfaction.