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Singapore – Accounting and Bookkeeping Done Right

Accounting and Bookkeeping Services in Singapore

Thriving Sector

Over 450,000 accounting and bookkeeping services companies are registered with ACRA Singapore.

Mandatory Compliance

ACRA mandates tax filing with IRAS, necessitating professional assistance for businesses.

Benefits of Outsourcing

  • Optimized time management: Free up executives’ time for core business activities.
  • Cost reduction: Avoid expenses associated with hiring internal personnel.
  • Experienced professionals: Access expertise in regulatory compliance.
  • Advisory services: Value-added services include financial analysis and tax planning.
  • Reduced stress: Eliminate HR complexities and increase productivity.
  • Stay updated: Ensure compliance with ACRA regulations, avoiding penalties.
  • Accurate payroll: Maintain employee satisfaction with precise payroll systems.

Outsourced Bookkeeping Services

  • Automate invoice reconciliation and prepare accounting reports.
  • Tasks include maintaining ledgers, generating invoices, recording transactions, and completing payroll.

Difference Between Bookkeeping and Accounting

  • Bookkeepers record financial transactions, while accountants analyze and provide financial counsel.

Why Choose Premia TNC

  • Wide range of services for new and established businesses.
  • Ensure compliance with the Singapore Companies Act.
  • Personalized service with certified accountants.

Information Required for Quotation

  • The company’s name.
  • The nature of business.
  • The financial year-end.
  • Bank statement.
  • Sales records and expected monthly revenue.
  • Purchases and expenses records.
  • Expected number of transactions during the financial year.
  • GST registration status.
  • Information on loan and hire purchase status.
  • Information on investments made during the financial year.
  • Type(s) of foreign currency used for transactions.
  • Number of creditors.
  • Number of debtors.
  • Frequency of preparation of accounts – annual basis, half-yearly basis, quarterly basis, or monthly basis.
  • Total number of staff.
  • Information on existing accounting personnel and roles, if any.
  • Does the account need to be audited?
  • Does the company have any internal accounting software?

Additional Information

  • Last year’s tax computation and Notice of Assessment.
  • Latest management account (balance sheet and income statement).
  • Last year’s financial statement with a detailed income statement.

How it Works

  • Assigned a professional accountant to handle all accounting needs.
  • Required information includes payroll summary, journal vouchers, fixed asset register, payment vouchers, bank statements, expenses notes, inventory listing, purchase orders and/or invoices, tenancy agreement and/or invoices, sales orders and/or invoices, statement of borrowing and/or hire purchase and/or agreement, schedule for monitoring revenue generated and cost of sales and/or expenses paid during the year, and debtor and creditor control (unpaid or un-receipt invoices).

Accounting and Bookkeeping Services Offered

  • Financial analysis
  • Management reporting
  • Books cleanup
  • Cash flow and/or budgeting
  • Bank reconciliation
  • Fixed assets ledger maintenance
  • Accounts receivable maintenance
  • Accounts payable ledger maintenance
  • General ledger maintenance
  • Financial statements and reports: monthly, quarterly, and year-end review

Perks of Choosing Premia TNC

  • Up-to-date bookkeeping. 
  • Dedicated team support.
  • Compliant reports.