Professional Outsourced Accounting Services in Singapore
Accounting is more than just a regulatory necessity; it’s the financial backbone of your business. Understanding accounting and its critical role in decision-making is paramount for any business owner. As an outsourced accounting service provider in Singapore, we demystify these processes, offering clarity and insight into accounting.
Why is Accounting Necessary?
Accounting services in Singapore are essential for several reasons:
- Ensure Compliance with Legal and Regulatory Requirements: In Singapore, business accounting and financial reporting are subject to strict regulations. The Singapore Financial Reporting Standards (FRS) require firms to prepare financial statements that are compliant with these standards and maintain correct accounting records. A professional accounting service may help ensure your firm complies with these regulatory requirements.
- Provide Insights into Financial Health: Having accurate financial information aids in better decision-making. Professional accounting services can ensure the accuracy and reliability of your company’s financial statements, giving you the confidence to make decisions based on the provided information.
- Enhance Operational Efficiency and Profitability: Employing a professional accounting service provider can help your company save time and money by outsourcing accounting tasks. This will allow you to concentrate on core business activities while the service provider handles day-to-day accounting tasks.
Singapore Accounting Compliance: Key Deadlines Every Business Must Know
All companies registered in Singapore must meet ongoing statutory accounting and tax obligations. Failure to comply can result in financial penalties imposed by IRAS or ACRA. As your accounting service provider in Singapore, OneStop Professional monitors and manages these deadlines on your behalf:
| Obligation | Deadline | Notes |
|---|---|---|
| ECI Filing | Within 3 months of financial year end | Estimated Chargeable Income must be submitted to IRAS annually |
| Form C / Form C-S | By 30 November annually | Corporate income tax return filing with IRAS |
| GST Returns | Monthly or quarterly | For GST-registered companies, taxable turnover above S$1 million |
| Annual Return (ACRA) | Within 5 months of financial year end (listed) / 7 months (non-listed) | Includes financial statements and director reports |
| Accounting Records | Minimum 5 years retention | Required under the Singapore Companies Act |
| XBRL Filing | Together with Annual Return | Required for companies with corporate shareholders or undergoing audit |
Our team of qualified accountants tracks all of these deadlines and proactively notifies you well in advance, so you never face unexpected penalties.
Professional Accounting for Small Businesses
OneStop Professional is a renowned and dependable accounting firm, offering affordable accounting services for small businesses (SMEs) in Singapore since 2011. Our team comprises chartered accountants and certified public accountants dedicated to providing high-quality financial services tailored to the unique needs of small businesses. We understand the challenges faced by SMEs and strive to offer cost-effective solutions that are designed to help your business grow and thrive.
In addition to our comprehensive accounting services, we also provide payroll outsourcing services and corporate secretarial services in Singapore, ensuring that all your financial and administrative needs are met under one roof.
Accounting Services Offered
Our range of accounting services is designed to cover various aspects of financial management and compliance, including:
- Account Code System Setup
- Account Transactions Recording, including Journal Entry Recording
- Monthly, Quarterly, Half-yearly and Yearly Accounting
- Accounts Payable
- Accounts Receivables
- Bank Reconciliation
- Monthly, Quarterly, Half-yearly and Yearly Reporting
- Profit and Loss Account (Statement of Comprehensive Income and Other Comprehensive Income)
- Balance Sheet (Statement of Financial Position)
- Statement of Changes in Equity
- Cash Flow Statement
- Directors Report /Compilation Report Preparation
- Accounts Payable Ageing
- Accounts Receivable Ageing
- Journal
- General Ledger
- Variance analysis for Monthly and Quarterly Clients
- GST Accounting
- GST Returns – Monthly and Quarterly
- Multi-currency Accounting
- Management Reports
- Income Tax Computation and Filing
- XBRL Preparation and Filing
Why Outsource Accounting Services in Singapore?
Running a business in Singapore means managing a full calendar of IRAS and ACRA compliance deadlines on top of your day-to-day operations. For many small and medium-sized enterprises (SMEs), maintaining an in-house accounting team is simply not cost-effective. This is why outsource accounting services in Singapore have become the preferred choice for thousands of businesses across all industries.
Here are the key reasons why business owners choose to outsource their accounting to a professional accounting service provider in Singapore:
- Cost Savings: Hiring a full-time, in-house accountant in Singapore involves salary, CPF contributions, employee benefits, and accounting software licences. Outsourcing your accounting to OneStop Professional gives you access to a team of chartered accountants at a fraction of the cost, with packages starting from S$200 per month.
- Focus on Core Business Activities: Outsourcing routine accounting tasks frees up your time and internal resources, allowing you to concentrate on growing your business, serving customers, and exploring new opportunities.
- IRAS and ACRA Compliance: Singapore imposes strict financial reporting requirements under the Companies Act and the Singapore Financial Reporting Standards (SFRS). A professional accounting firm keeps your books compliant and ensures all statutory deadlines are met without you having to track them yourself.
- Scalability: As your business grows, your accounting needs evolve. Outsourced accounting services in Singapore scale with your business, you can move from a basic package to a more comprehensive one without the complexity of hiring, training, or restructuring an internal team.
- Access to Expert Knowledge: When you work with a dedicated accounting service provider in Singapore, you gain access to experienced chartered accountants and certified public accountants who are up to date with the latest tax regulations, GST rates, and reporting standards.
Our Accounting Packages
Our professional accounting services are tailored to your business needs and monthly revenue. The fees are as follows:
- Dormant Company: S$200
- Semi-Active: S$400 onwards
- Active: S$600 onwards
Customise your package to suit your business needs:
| Services Included | Starter S$600 | Standard S$980 | Premier S$3,100 |
|---|---|---|---|
| ACRA Fee for Name Application & Company Incorporation (S$315) | ✅ | ✅ | ✅ |
| Company Business Profile and Constitution (Including Memorandum and Articles of Association) | ✅ | ✅ | ✅ |
| First Board of Director Meeting | ✅ | ✅ | ✅ |
| One Round Company Stamp (Self-Inking) | ✅ | ✅ | |
| Email reminder for statutory deadlines | ✅ | ✅ | |
| 12 months company secretary services | ✅ | ✅ | |
| ND Services For 12 Months | ✅ | ||
| 12 months registered address services | ✅ |
*Prices may vary based on transaction complexity and the specific needs of your business. Monthly, quarterly, semi-annual, and annual packages are available for greater flexibility. Please click here for more information on our packages or to view additional pricing and services.
How Our Outsourced Accounting Services Work
Getting started with OneStop Professional is straightforward. We have helped hundreds of Singapore SMEs transition to outsourced accounting and the process is designed to be as simple as possible:
Step 1: Free Consultation
Contact us for a no-obligation consultation. We will review your business structure, transaction volume, and compliance requirements to recommend the most suitable accounting package for your needs.
Step 2: Package Selection & On-boarding
Once you select a package, we set up your account code system and begin migrating or establishing your financial records. If your books require clean-up or back-filing, our team handles this efficiently.
Step 3: Ongoing Accounting & Reporting
Your dedicated accountant handles all day-to-day bookkeeping, bank reconciliation, GST accounting, and management reporting on the agreed schedule monthly, quarterly, half-yearly, or annually.
Step 4: Compliance Filing
We prepare and submit all required IRAS and ACRA filings on your behalf, including Estimated Chargeable Income (ECI), corporate tax returns (Form C / Form C-S), GST returns, and XBRL reports as required.
Step 5: Ongoing Support
Our team is available to answer queries, provide financial insights, and advise on tax optimisation throughout the year, not just at year-end.
Hear from Our Satisfied Clients
Accounting Services for Every Industry in Singapore
OneStop Professional provides accounting services in Singapore to businesses across a wide range of industries. Our accountants understand the unique compliance and financial reporting requirements of each sector:
Trading & E-Commerce: Multi-currency accounting, GST compliance, inventory reconciliation, and cross-border transaction management for businesses selling online or across markets.
Professional Services & Consultancies: Project-based revenue recognition, expense management, and corporate tax optimisation for law firms, marketing agencies, IT consultancies, and other service businesses.
Food & Beverage (F&B): Cost of goods sold (COGS) tracking, GST filing, payroll management for hourly staff, and compliance for F&B operators and restaurant groups.
Construction & Real Estate: Progress billing, project cost accounting, GST on property transactions, and financial statement preparation for construction contractors and developers.
Technology Startups: Startup-friendly accounting packages with management reporting suited for investors, equity fundraising documentation support, and ECI filing.
Import & Export: Multi-currency reconciliation, GST on imported goods, customs documentation support, and trade finance reporting.
Holding & Investment Companies: Dormant and semi-active company accounting from S$200, investment portfolio tracking, and XBRL preparation for ACRA compliance.
If you do not see your industry listed, please contact us. We work with businesses across all sectors and our packages are fully customisable.
As Featured On
Our services and expertise have been recognised and featured in various renowned publications, including:
Outsourced Accounting FAQs
Outsourced Accounting FAQs
The complexity and size of your company's needs will determine the qualities you should seek in an outsourced accounting service provider in Singapore. For instance, if you own a small business and only require assistance with tax filing, a reliable Certified Public Accountant (CPA) recommended by friends and family should suffice. However, do verify if they possess the required certifications and licences.
On the other hand, if you run a larger business and require something more advanced, consider outsourcing to an accounting firm. Evaluate the firm's service offering, experience and expertise, and accounting tools.
Outsourcing your business’ accounting can be a smart move, as you may benefit from:
- Increased focus on core business activities: Outsourcing accounting services in Singapore allows companies to concentrate more on their core business operations, which leads to enhanced productivity and profitability as it frees up their time and resources.
- Experience and expertise: Professional accounting service providers possess the required experience and knowledge to efficiently and effectively manage accounting tasks, enabling companies, including small businesses, to benefit from their specialised knowledge.
- Access to advanced technology: Accounting service providers usually have access to the latest accounting software and technology, which can enhance overall productivity, accuracy, and efficiency.
At OneStop, we cater to our client's specific needs without binding them to long-term contracts. Our accounting services are tailored to provide you with the support you need for as long as you need it, ensuring a partnership that grows with your business. Whether it's a short-term project or an ongoing financial management requirement, our service model is designed to be accommodating, ensuring that you receive the support you need without the constraints of rigid contractual terms.
We prioritise safeguarding your financial information with the utmost seriousness. Our security measures are comprehensive, employing robust encryption and secure protocols to protect your data. Beyond technical measures, our team of professionals is trained in best practices for data privacy, ensuring that your financial details remain confidential and secure at all times.
Bookkeeping refers to the systematic recording of day-to-day financial transactions such as invoices, receipts, payments, and bank entries. Accounting goes further by interpreting, analysing, and summarising that financial data to prepare financial statements, manage tax compliance, and provide business insights. In Singapore, both functions are required to meet IRAS and ACRA obligations. At OneStop Professional, our outsourced accounting services cover both bookkeeping and full accounting, so your business is fully supported under one provider.
Outsourced accounting services in Singapore typically range from S$200 to S$1,500 or more per month, depending on the company's activity level, transaction volume, and the scope of services required. At OneStop Professional, dormant companies start from S$200 per month, semi-active companies from S$400 per month, and active companies from S$600 per month. All prices are transparent, and we do not charge hidden fees. Contact us for a customised quote based on your specific business needs.
Yes, absolutely. Many businesses switch to outsourced accounting services in Singapore mid-operation or even mid-financial year. Our team will review your existing financial records, identify any discrepancies, and bring your books up to date before taking over ongoing accounting. Whether you are switching from a different accounting firm or from self-managed spreadsheets, OneStop Professional manages the transition smoothly with minimal disruption to your operations.
Your company must register for GST in Singapore if your taxable turnover exceeds S$1 million in any calendar year, or if you expect it to exceed S$1 million in the next 12 months. Once registered, you are required to file GST returns monthly or quarterly with IRAS. OneStop Professional handles GST registration, GST accounting, and quarterly GST return filing as part of our outsourced accounting services, ensuring your submissions are accurate and submitted on time.
XBRL (eXtensible Business Reporting Language) is a digital format required by ACRA for financial statement filing. In Singapore, XBRL filing is mandatory for companies with corporate shareholders, companies that are not exempt private companies (EPCs), and insolvent EPCs. OneStop Professional prepares and files XBRL reports as part of our accounting services in Singapore, ensuring your annual returns to ACRA meet the required format and standards.
Missing a statutory filing deadline in Singapore can result in financial penalties and, in serious cases, legal action against company directors. IRAS imposes late filing penalties for ECI and corporate tax returns, while ACRA can strike off companies that fail to file annual returns. By outsourcing your accounting to a professional accounting service provider in Singapore like OneStop Professional, you have a dedicated team monitoring all deadlines and submitting filings on time, significantly reducing this risk.
Yes, outsourced accounting is particularly well-suited for newly incorporated companies in Singapore. As a new business, you face multiple compliance obligations immediately after incorporation, including setting up an accounting system, tracking initial transactions, and preparing for your first statutory filings. Starting with outsourced accounting services from day one means your books are correctly structured from the outset, reducing the risk of errors, missed filings, or compliance issues later.
Getting started is simple. You can contact our team by phone at (+65) 8968 3994, by email at contact@onestop-ca.com, or by filling in the enquiry form on our website. We will arrange a free consultation to understand your business needs and recommend the most suitable accounting package. Our service model is flexible, ensuring you receive the support you need without unnecessary commitments.
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