Accounting and Bookkeeping
Get professional accounting services in Singapore. Put your accounting and bookkeeping in trusted hands, with our qualified professionals.
With 25 years of experience under our belts, we have the expertise and industry knowledge to help you get your accounting and reporting responsibilities done – within guidelines (abiding by the latest Singapore accounting standards) and deadlines.
This means that you can leave your accounting and bookkeeping duties in our care, while you handle everything else that’s vital to the growth of your business.
Our accounting and bookkeeping services include:
- Setting up of accounting systems and preparation of management accounts
- Administration and expenses processing, including payment processing
- Updating of accounting records and receipts of funds
- Payroll managed services
- Preparation and drafting of financial reports
Finding the Best Accounting Service in Singapore
With a myriad of different accounting services and providers out there, it can sometimes be an arduous task finding the best accounting service, even if the pool has been limited to a place as small as Singapore. In this article, we will be looking at some factors to help you choose the best accounting service in Singapore.
What are your needs and objectives?
These are some important questions you should ask yourself before starting your search. Why are you looking to hire a service? How often will you require their services? Weigh the pros and cons of each to determine how best to proceed and what will most benefit your business.
According to the 2017 Small Business Taxation Survey by the National Small Business Association, 61% of small business owners use the services of an external tax practitioner/accountant. The same survey reports that “one-in-three small businesses report spending more than 80 hours . . . each year on federal taxes.”
If your accounting requirements are limited and you only need someone for only several days a month, it may be prudent to hire someone on a part-time basis. If you need someone on a daily or weekly basis to handle payroll and other more frequent tasks, it may be most beneficial to either hire a full-time employee or to outsource those services to a professional accounting service.
What are your service costs?
Secondly, you will need to figure out how much you are willing to spend on accounting services. Do you want an in-house employee or an outsourced service? Keep in mind that when hiring a full-time employee in your office, your costs will include his or her annual salary, taxes, health or life insurance, and other employee benefits.
Depending on how you are handling your accounting currently, the prices for outsourced accounting services may initially seem high - keep in mind the cost you otherwise would pay by hiring a full-time employee or multiple employees to perform those same tasks.
In fact, you will be surprised to learn how much money you can save by outsourcing your accounting to an external team of professionals in lieu of hiring an in-house team.
Is the accounting service a good fit for your company?
When choosing a firm to outsource your accounting services to, it is important to be comfortable with their company, culture and the personnel handling your accounts. Several factors you should consider are the company’s principles, location, and level of dedicated service.
When researching companies, be sure to familiarize yourself with their core values and other guiding principles. Determine whether a company is a good fit and if your own company’s values align with their business practices.
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