Accounts & Bookeeping

Business accounting consulting services include traditional accounting engagements, like maintaining weekly, monthly and yearly financial records, a general ledger, accounts payable and accounts receivable, business taxes, bank reconciliation, consulting etc.

Every business establishment, including Sole-Proprietorships, Partnerships and Private Limited Companies, are required by law to maintain accounting records in full compliance with the Singapore Companies Act and Singapore Financial Reporting Standards. An increasing number of companies are finding it more efficient and cost-effective to outsource accounting services rather than having their own in-house accounting department, doing all the accounting work, a large part of which is transactional and repetitive in nature. Outsourcing frees up valuable staffing resources in order that companies may focus on their core business.

  • No need to purchase equipment
  • No need to purchase software
  • No software maintenance costs
  • No need to pay full time staff salary, CPF and staff benefits (sick leave, annual leave, bonus etc)
  • Eliminate problem associated with staff turnover and thus ensure continuity of accounting service Assurance of compliance
  • Our pool of specialists trained on technical matters
  • Experienced and qualified staff
Monthly Transactions As Per Bank Statement Monthly Charge ($) Quarterly Charge ($) Annual Charge ($)
less than 10 80 240 1,100
11 – 30 120 360 1,700
31 – 60 180 540 2,600
61 – 120 260 780 3,800
121 & above > 400 > 1,200 > 6,000
** for reference only **

 

The above charges include the following services:

  • Setting up accounts codes for respective income, expenses, equity, assets and liabilities for the purpose of bookkeeping of Company transactions
  • Transaction entries into the accounting program
  • Generating financial documents such as:
    • General Ledger
    • Accounts Receivable
    • Accounts Payable
    • Income Statements
    • Balance Sheet
    • Bank reconciliation
    • Fixed Asset Register
  • Preparation of Goods and Service Tax (GST) schedule to support the completion and submission of GST Return (GST Form5) to the Comptroller of GST. (To include an additional $100 on the month of reporting.
  • monthly book-keeping: 1-2weeks
  • quarterly or annual book-keeping: 3-5 weeks
  • Bank statements, cheque butts, bank credit/debit advice
  • Sales invoices and credit notes
  • Official Receipts, if any
  • Payment vouchers and paid suppliers invoices
  • Cash payment vouchers
  • Unpaid suppliers invoices, if any
  • CPF statements