Singapore Accounting Services

According to the Accounting and Corporate Regulatory Authority (ACRA), nearly 500,000 companies are currently registered in Singapore. It is a mandate for all registered companies to file taxes with the Inland Revenue Authority of Singapore (IRAS). In order to file accurate tax returns, companies need to maintain accurate books of accounts and keep relevant documentation organized.

Large companies usually comply easily with IRAS mandates, general tax laws and other obligations, by hiring expense accounting firms. However, bookkeeping and tax compliance can be a challenge for small to medium businesses with more limited budgets. These businesses may not be familiar with the current tax laws and may not be equipped with the right tools or processes to comply.

Our Singapore Accounting Services are designed to keep things simple and take the bookkeeping, accounting and tax filing burden off your shoulders.  We give you peace of mind for accounting and taxes compliance. Our services are best fit for some to medium companies aiming to outsource their accounting and bookkeeping services.

Efficient Singapore Accounting Services require appropriate tools to access up-to-date and accurate financial information. It is important, as much as possible, to follow an online process for us to be informed about your business activities and record them properly in your accounting records.

• An Online Accounting Software is a must for us to record all your transaction and supporting documentation electronically. Such software enables us to share reports and other financial information with you, in near time. In case of audit, the records are also readily available for an auditor to take a look. We typically work with either Xero, QuickBooks Online and Odoo Accounting to perform bookkeeping.
• A Document Sharing System is important to exchange supporting documentation for your transactions. Typically, an auditor will require to view supporting evidence, in order to consider whether a particular accounting record is acceptable. Outsourced bookkeeping usually requires a way to exchange digital documents such as PDF, scanned copies, etc. If you do not have any of this, we will work with you to setup something basic so that we can digitalize your accounting process.
• Access to Electronic Bank Statements is a key component to perform a quick and accurate reconciliation of bank accounts. On a monthly basis, transactions recorded into the company bank account(s) need to be reconciled against the transactions recorded in the accounting system. Electronic bank statements guarantee a quick processing of the reconciliation process, and allow us to check whether the end of month bank balance tallies with the bank balance in the accounting system.

• I am a small company and I do not have an accounting software ? What do I do ? We work with customers both big and small. We accommodate companies with or without an accounting software in place. In fact, we can work with you to put something in place at the beginning of the services.
• How do you guarantee the accuracy of bookkeeping? We use well-known, well-tested software to record all your business transaction. Generally, bookkeeping accuracy is dependent on documentation timeliness and accuracy. Therefore, it is critical that we work closely to collect all your transactions details early, so we can raise any questions when required.
• How do you charge for the service? We charge our Singapore Payroll Services based on the number of employees to process. Please talk to us to get a quotation.
• Can you make tax payments and filings on behalf of my company? Yes, we can, provided you grant us permissions with IRAS and ACRA. This is a simple process and we can set this up at the beginning. However, this is optional and you may decide to do payments yourself with our guidance.
• I need help with Payroll as well as Accounting, can you help me? Sure, please check out our Singapore Payroll Services.
• I am lost in accounting, how do I get help ? Please contact us below, and an expert of our Singapore Accounting Services team will reach out to you. Do not let accounting overrun you. Contact us first.