Accounting Services Provider in Singapore

Accounting Services Provider in Singapore

is an essential aspect to look into for your business. Companies must have financial reports created according to the industry standard. It is also essential in reviewing whether the business operations are efficient or not. The data it provides contribute to making informed business decisions for the owners and managers to stimulate company growth.



Accounting refers to the interpretation, classification, analysis, reports, and summarisation of an organization’s financial data. Accountants are qualified professionals who are responsible for analysing all financial transactions of the business through financial statements and business reports. They follow certain accounting requirements, principles, and standards. They report the company’s financial health and performance using their analysis and interpretation of the financial data they gathered. This is used by company leaders and owners strategise and plan for the company.

Businesses are required to maintain and keep a proper book of accounts. This is in compliance with the Singapore Companies Act and the Singapore Financial Reporting Standards (SFRS). Accounting and Corporate Regulatory Authority or ACRA also has a Financial Reporting Surveillance Programme that requires a quality, reliable, and relevant financial report. It is needed to avoid inaccurate information and non-compliance with the accounting standards.

Outsourcing your organization’s accounting needs is an excellent way to free up some of your time in doing your core business operations. The daily processes to manage, operate, and grow a business can fully occupy your work. Most services offer ACRA and IRAS compilation, payroll services, submission of the financial report to ACRA, financial statements preparation, bank reconciliation and accounts reconciliation, professional accounting services, and directors report or compilation reporting preparation.

Some of the documents you need to prepare to include your company’s monthly bank statements, sales invoices, expenses invoices, receipt vouchers, and payment vouchers. If it is applicable, you may also have to present your monthly CPF statements, hire-purchase agreements, monthly foreign worker levy statements, salary vouchers, used cheque book stubs, and more. Engaging accounting servicesprovider Singapore is a cost-efficient and time-saving solution for your business. They save you time from sorting through invoice files and avoid you from having to hire more employees for the admin work.

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