Doing Business in Indonesia: Differences Between Accounting and Bookkeeping Bookkeeping is the systematic identification and recording of business transactions and financial events affecting a company. When we say transactions, we’re talking about the trading activities of buying and selling that needs to be recorded in the book of records. The financial events, however, are those…
Staying at the Forefront of Hospitality Sector with Accounting in Hotel Business Hospitality industry, alongside the tourism business, has been growing in the past years before the COVID-19 pandemic caused a major slowdown in 2020. Still, several parts of the world have been reopening again, slowly reviving the sector. Once a vaccine for the virus…
Doing Business in Indonesia: Xero or Quickbooks: Which One is Better? Xero or Quickbooks – If you’re to choose only one from these cloud services for your accounting needs, what would it be? If your answer is “I have to take a deep look first on the features and prices for both of the two”,…
Evolving Company Technology: How Cybersecurity Affects Company Secretaries Whether we deny it or not, technology has rapidly taken over the world in every aspect. People have been seeking new innovations throughout the years to ease their tasks while increasing efficiency and productivity at the same time. Digital transformation and other use of new technology have…
Secretarial Firms Can Help Your Company With Regulatory Compliance In every country, there are regulatory compliances that all businesses should always meet. Complying with these regulations lets them keep operations up and running. All the companies should always observe these so they can stay out of trouble and focus on growing their businesses. This is…
Online Payment Platforms Help SMEs Go Digital With the rapidly increasing adoption of a cashless system, McKinsey’s management consulting firm said that online payment platforms would help small and medium enterprises (SMEs) go digital. In the 2020 McKinsey Global Payments Report, the cash usage across the world had declined by as much as 45 percent…
Fintech Player Extends Loans to Help Retail Supply Chain AwanTunai, a financial technology (fintech) company in Indonesia, helps the retail supply chain survive the coronavirus pandemic as various sectors shift to digital. The company is lending to startups and micro, small and medium enterprises to finance their digital transformation. It has disbursed RP 407 billion…
Indonesia Boosting Financial Literacy to Reduce Unbanked Population According to a study, Indonesia is battling with low financial literacy, which leads to a significant portion of its population being unbanked or not financially included. A survey conducted by the Financial Services Authority in 2019 revealed that the financial inclusion rate in Indonesia was only 76.1…
Indonesia’s Omnibus Law Makes Changes to Labor-Related Sectors The government and the House of Representatives have already concluded the discussion over the Omnibus Law on Jobs Creation, which is seen to trigger changes to labor-related sectors. Thus, the Omnibus Law in Job Creation No. 11 of 2020 has been issued on 2 November 2020 by…
Indonesian Government Revises Laws to Boost Investment and Jobs The Indonesian House of Representatives passed the landmark Omnibus Law on Job Creation on October 5 to improve the business climate. The government has amended 79 laws to boost investments and jobs, making Indonesia more competitive and attractive as an investment destination. According to the World…