Bookkeeping & Accounting

Accounting services: All Singapore companies are required to prepare and keep a book of accounts. This consists of a Profit and Loss Account, Balance Sheet, Cash Flow Statement, and Equity Statement – all of which must be in accordance with the Singapore Financial Reporting Standard (SFRS). Our accountants will maintain your Book of Accounts in a timely manner so as to provide a true and fair representation of your company’s financial records.

We also offer book auditing and Singapore accounting services.

GST submission: GST is a consumption tax levied on the import of goods as well as nearly all supplies of goods and services in Singapore. Businesses whose taxable supply exceeds or is expected to exceed S$1 million for any consecutive 12 month period are required to register for GST with IRAS. GST-registered entities must submit quarterly GST returns. Any GST paid by a company can be claimed from the IRAS. Businesses may also voluntarily register for GST.

Payroll services: Our team can assist with the tedious and complex functions of payroll. We also ensure that the deductions made from the salaries of their employees are submitted to the CPF board on time. Computation of basic wages, overtime wages, bonuses etc are some of the basic elements of payroll processing. However, in Singapore, the computation of donations to funds such as SINDA, MBMF, ECF, levies including the Skills Development Levy, and withholding tax etc make it a complex function.

Expense claim services: Alongside payroll, companies in Singapore have to compute expense and travel-related claims filed by employees. However, this process is often manual and as a result, inefficient. Encounters of missing or faded receipts or errors in claim reconciliation figures are common. Such errors can be eliminated with a Payroll and Expense Claim Management Software that allows for the tracking and management of employee expense claims with minimal administration and maximum efficiency.