Why Is Accounting So Important?

Companies are required to keep proper records and accounts of business transactions. Your company must maintain proper records of its financial transactions and retain the source documents, accounting records and schedules, bank statements and any other records of transactions connected with your business.

Please ensure that all business and accounting records are maintained for a period of at least five years.

Lack of good accounting records can bring down the wrath of the Inland Revenue Service. This is the prime reason most businesses make every effort to maintain sound accounting records.

Bookkeeping (Fr S$100/mth)

Monthly Transactions

less than 10




Monthly Charge






Quarterly Charge






Annual Charge






*For reference only, charges may vary, depending on the complexity and urgency of service*

Bookkeeping accounting may look like a great time waster to most small business. Let our qualified professionals help you:

  • Setting up your accounting books including a computerised general ledger system using our accounting software as well as setting up your Chart of Accounts in line with your organisation’s reporting format
  • Transaction entries into the accounting system based on the information and source documents provided by your office
  • Generating financial documents such as: Balance Sheet, Income Statement, General Ledger, Accounts Receivable, Accounts Payable, Bank reconciliation, Fixed Asset Register, etc.
  • Processing the application for Goods and Services Tax (GST) if required.
  • Preparing the quarterly GST Returns (GST Form5) for submission to the Comptroller of GST if required.
  • Liaising with auditors and tax agents during the year-end accounts closing procedure including preparation of accounting schedules and analysis required for year-end audit and tax purpose, if any.
  • Preparing the first draft of your management accounts and the accompanying notes to accounts into the statutory accounts

Accounts Reviewing

Companies that have in-house bookkeepers who maintained the company accounts regularly in an accounting system. However, this in-house bookkeepers may not experience or qualified enough to complete the final closing. All you need to provide to us are your balance sheet, profit and loss and general ledger records. We will review your accounts and suggest if any amendment needed.

The fee range from $500, depending on the complexity and urgency of service

Compilation of Financial Statements (Fr S$300)

Under Section 175 of the Companies Act, a local company is required to hold its first Annual General Meeting (“AGM”) within 18 months of its incorporation and at the AGM, the directors shall present the company’s accounts that comply with the requirements of the Accounting Standards and give a true and fair view of the status of the company to its shareholders.

Our C.P.A. can assist your company to prepare the financial report which includes the following:

  • Directors’ Report 
  • Statement of Directors 
  • Income Statement                
  • Balance Sheet 
  • Statement of Changes in Equity 
  • Cash Flow Statement 
  • Accounting Policies 
  • Notes to Financial Statements 
  • Detailed Income Statement 

Preparation of XBRL

With effect from 3 March 2014, Singapore incorporated companies (other than those exempted) are requires to file its financial statements in FULL XBRL. In addition, ACRA had stated in its Practice Direction the responsibility of the directors of the company to ensure the correctness and accuracy of the financial statements in XBRL Report filed with ACRA.

Our fee quote for Full XBRL Reporting services,  as below:-

  • Listed or consolidated S$1200.
  • Company level S$800.