Accounting services in Singapore for SME’s
Accounting includes many aspects that ordinary businessmen may find challenging. Terms like depreciation, provisions, liabilities, assets, credits, debits, and other accounting jargons may just prove to be as confusing as a foreign language. Studies conducted on businesses have placed accounting as one of the biggest hurdles among small and medium enterprises (SME).
Hiring a full-time accountant, however, is not a practical solution for an SME. In most parts of the year, an accountant may not be fully utilized. Accounting work may only need a few days to a few weeks to be completed. Hiring someone permanently to perform limited work is not practical especially when a company’s budget is limited.
Some enterprising SMEs do the accounting themselves. Although this can be a cost-saving measure, the complexity of accounting work may veer a business owner away from focusing his attention to running his business. Besides, one may miss out important accounting facets if the person is not really trained to do accounting work.
Outsourcing Accounting as an Option
Finding an accounting service provider is a better and more practical alternative to your accounting needs. Singapore has many such firms that offer accounts maintenance for an agreed fixed price. Accounting personnel from these service providers can visit your company once a month to update records.
Guide to Selecting an Accounting Service Provider
Outsourcing your accounting requirements need long-term commitment with a service provider. Hence, it is very important that you select the best one. Here are some tips that you can use in selecting an accounting service provider:
Determine the Exact Volume of Work You Need
The Accounting Service that We Provide
Our accounting service is based on the principle of best service at the most reasonable price. We provide professional accounting services to SMEs in Singapore to help business owners attain their business goals. We are a group of dedicated individuals who are adept in Singapore accounting practices and who use the latest technology in providing solutions to your accounting needs. We use transaction volume (table below) as the basis of computing how much you will be charged. This way, you will be able to set aside a budget for the accounting service you need without worrying about hidden charges.
What is covered?
How to provide us details
You will need to provide us all the relevant invoices, bank statements, card statements in a single file. Ensure that you include upto date information and copies. Also on the bank statements please provide us nature of transactions written by pencil. This will help us to reconcile items easily. You will need to make one visit to our office where our accountant will go through the documents you are providing and ask relevant clarifications. After this we will proceed for preparation of accounts.
|Yearly accounting services ( Low volume)||500 SGD|
|Completing one AGM resolution and Annual Return filing||200 SGD|
|Filing ECI and form C / C-S preparation||700 SGD|
|Total Package||1,400 SGD|
|Package Discount||-100 SGD|
|Net package price (One year Accounting, 1 AGM and Tax filing for that year)||1,300 SGD|
* Compilation of financial statements means we will prepare statement in Singapore Accounting standards format based on Income statement and balance sheet provided by you.
* All services include Full set of financial statements consisting of Director’s report, Income statement, Balance-sheet, Cash flow, Statement in changes of Equity, ledgers and accompanying notes to accounts