A CryptoCurrency Exchange, Custodian, Wallet, Traders or Service providers that operates on the basis of trading digital currencies is just like any other exchange trading in any other physical asset. Like a traditional financial exchange, CryptoCurrency would need to trade and earn fees for all such trades be it in Fiat or CryptoCurrency. In any case end of the year accounting for such fees does become mandatory along with expenses that may have been incurred. 100% of these transactions are done online & all such fees and related earnings are earned in CryptoCurrency. How does one account for Profit and Loss? Come talk to us to find the right answers.
Startups that fall in the lifestyle category are generally started by Founders based on a hobby or their personal passion; such an entrepreneur loves the work she does while being her own boss. A professional photographer, a surfing coach, a journeyman web-designer are examples of such hobby-based lifestyle businesses. In most cases purchases are done in the offline world using traditional means of receiving invoice, holding credit and and paying by cheques at a later date, whereas Sales are a mix of online orders as well as Offline. So should such Founders operate a Sole Proprietorship or a Pte Ltd? How does it impact them in either case? How would the Liability work as they are still responsible for payments to Vendors and collection from Customers. Confused, no worries, come talk to us to find the right answers.
Traditional Small Businesses:
The overwhelming number of entrepreneurs in the world today are involved in what can be best be described as a traditional small business. This category consists of businesses that are well recognised as providing a stable growth. Grocery stores, Hairdressers, Consultants, IT consulting firms, Insurance agents, Internet commerce storefronts, Carpenters, Plumbers, Electricians, Traders etc. are all examples of such businesses. In many cases these business are now being operated by 2nd or 3rd generation family owners who are Tech Savvy. As these businesses are already profitable, they wish to now improve operations and grow the businesses to the next level with the help of technology. Just like all other departments the accounting department also needs to be upgraded and digitised, how would the same happen? Is it time consuming or can it happen at the click of a button, come talk to us to find the right answers.