Are you running a small or medium enterprise or SME in Singapore? If yes, along with your daily business chores, you need to maintain your up-do-date accounts records. Inland Revenue Authority of Singapore (IRAS) requires you to maintain all your business records properly so that the income and expenses occurred in a business can be determined readily. The records of accounts should be having all the supporting documents like invoices, receipts, income records, purchases, expenses and any other financial records that are related to your business.  

For SMEs, it is an additional headache as they need to invest more time to their basic business plans and establish themselves than think about keeping records of accounts. But, keep in mind that if you are late in filing your details, you will be penalised. 

The best option for SMEs is to look for the accounting bookkeeping service in Singapore.  There are many companies offering this service at a very reasonable rate, just keep in mind the following points while you look for accounting bookkeeping service in Singapore: 

  1. First understand your requirement in detail and then look for a service that matches it.
  2. Take feedback from your business associates and friends about the reputation of the company.
  3. Check for the professionals givingyou services on behalf of the company. They should be well qualified and should have a good reputation in the market.
  4. Check their way of dealing i.e.,thecommunication system, prompt and proper support should be provided. 
  5. Should be able toprovide you good and proper financial advices.  
  6. Should help you to cut down your cost.
  7. Should havethe expertise in tax related documentation and process. 
  8. Last but not the least, they should be saving your timewhichyou can invest in other important issues of your business. 

Now, when you are talking about taking a service, definitely you need to think about the accounting services Singapore price. You are opting for this as you want to save both money and time for our business. 

The accounting services Singapore price 

  MONTHLY  YEARLY 
Package Name  Monthly – 25  Monthly – 50  Monthly – 100  Annual – 50  Annual – 100 
Rate  S$100 pm  S$180 pm  S$350 pm  S$250  S$500 
Transaction per month / year  25 pm  50 pm  100 pm  50 per year  100 per year 
Document Collection  Yes  Yes  Yes  Yes  Yes 
AR / AP/ GL Updates  Yes  Yes  Yes  Yes  Yes 
Bank Reconciliation  Yes  Yes  Yes  Yes  Yes 
Financial Statements  Yes  Yes  Yes  Yes  Yes 
Email / Phone Support  Yes  Yes  Yes  Yes  Yes 
Free Consultation  1 hour  1 hour  1 hour  2 hours  3 hours 
  • Additional Charges for annual return and tax filing to ACRA & IRAS is about S$700 
  • For additional transactions other than what is included in the package will be charged extra. 

So, with the proper research, decide about the package you will be opting for.