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Guide to getting accounting bookkeeping service in Singapore and the prices

Once successfully incorporated, new companies must begin proper and efficient record keeping for compliance and management purposes. Inland Revenue Authority of Singapore, IRAS, requires financial records to be properly updated and maintained so that income earned and business expenses can be determined readily. Records and accounts must also be supported with invoices, serially numbered receipts, income records, purchase and business expense records and other records of financial transactions related to your business.

New start-ups, especially SMEs, are usually already faced with daily operational challenges, and regular maintenence of their company’s books and accounts often gets relegated to the backburner. As such, when tax reporting time comes around, many new companies end up penalised for late filing or incorrect filing, especially when important records go unaccounted for.

Accounting Bookkeeping Service in Singapore

VentureHaven provides cost-effective accounting services that business start-ups need to keep their companies in good compliance with the authorities. Our packages have been specifically designed to suit your needs and give you the best value possible.

Accounting Services Singapore Price Table

Our monthly bookkeeping packages are tailored to help our clients with keeping their books updated and accurate. We are unique in that we allow for companies that start with very minimal number of transactions (as little as 25 per month), to also start their accounting needs with us, and we will help them to scale only when needed.

Monthly-25

S$100pm

Monthly-50

S$180pm

Monthly-100

S$350pm

Transactions (per month)* 25/month 50/month 100/month
Document Collection
AR / AP / GL Updates
Bank Reconciliation
Financial Statements
Email / Phone Support
Free Consultation 1 Hour 1 Hour 1 Hour

* For Monthly-25 & Monthly-50, pricing is only applicable for clients uploading softcopy receipts, bank statements and invoices to VentureHaven.

**Additional $175 for every block of 50 transactions, exceeding the number of guarantee transactions.

***A “transaction” refers to each journal entry passed to record sales, purchases, collections, payments and other business activities.

Perfect for new companies just starting off, we have tailored economic and efficient annual plans to help you defray costs. At the same time, enjoy peace of mind with VentureHaven’s professional team managing your books, ensuring the most stringent levels of reliability and confidentiality.

Annual-50
S$250
Annual-100
S$500
Annual Return
& Tax Filing to
ACRA & IRAS
At only S$680
Transactions (per year)* Up to 50 Up to 100
Document Collection  √
AR / AP / GL Updates  √
Bank Reconciliation
Financial Statements
Email / Phone Support
Free Consultation 2 Hours 3 Hours

Outsourcing tax filing and the upkeep of your company’s books and accounts helps you run and grow your business more efficiently and cost effectively. Whether it’s startups or large enterprises, outsourcing has been a proven tool to help businesses deal with labourious day-to-day operations and more complex tasks, such as accounting, audit, compliance and risk management.

The key benefits of outsourcing your accounting functions to an accounting bookkeeping service in Singapore include:

Increased Profitability and Reduced Costs

By saving on an in-house accountant, you can channel more of your limited resources into your core business and focus on producing better products and services for your customers to increase your business profit. Plainly put, your company’s accounting needs may only run up to $300/mth so there’s no point retaining a full-time accountant at 10 times that cost. Also, you can adjust the scale of your outsourced accounting functions without having to deal with employment and human resource hassles.

Improved Productivity with Expert Advice

Your company’s books, accounts and compliance matters are in the safe hands of a team of experts — not just one in-house individual — that is familiar with the latest in new accounting laws, policies, procedures and technologies.

Minimised Risks

Businesses registered and operating in Singapore are bound by law and ethical obligation to accurately present their returns annually. Reporting errors can result in costly penalties and bad track record with the authorities. Therefore, it is one’s best bet to outsource such important financial matters to professionals who do it for a living everyday. Also, it has been reported that small businesses are often susceptible to various types of in-house fraud. This can easily be prevented if professional accounting service providers with tried and intact systems, procedures, protocols and practices are outsourced for the job.

Our Bookkeeping Calculator will allow us to better understand your requirements, and provide you with an accurate quote of our service.

Complete the form below, and our Client Relationship team will give you a reply very soon by email / phone call to provide you with a quotation:

By |2021-08-10T12:06:36+08:00August 3rd, 2021|Bookkeeping & Accounting, Company Annual Compliance, The VH Blog - Articles|Comments Off on Guide to getting accounting bookkeeping service in Singapore and the prices

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