ACCOUNTING SERVICES

Our Professional Accounting Services Protect Your Business Reputation

Maintaining proper bookkeeping and accounting records is every company’s responsibility in Singapore. Companies trust us at BoardRoom to handle this mandatory requirement to keep in compliance with the regulatory authorities. With our team of certified chartered accountants and professionals, you can expect exceptional outsourced accounting services guided by best practices. BoardRoom Business Solutions is a XeroTM Gold Partner.

As an outsource accounting service provider, we ensure that your business fulfills the compliance requirements stipulated by the regulatory authorities in Singapore to uphold the integrity of your company’s reputation. You can expect swift and exceptional accounting service in the areas of:

01 Bookkeeping and Statutory Compliance (Statutory and Management Purpose)

Our accountancy and bookkeeping services in Singapore will free you from the day-to-day account maintenance through the following services:

  • Chart of accounts set-up using XeroTM accounting software
  • Access to XeroTM Dashboard to see all your key information in one simple place. Your dashboard gives you an up-to-date view of your running balances and bank reconciliations across all of your accounts.
  • Accounting entries, compilation of general ledger reports, trial balances, profit and loss statements, balance sheets and balance sheet schedules for management reporting and financial analysis
  • Set up direct bank feeds from bank accounts to have transactions imported securely into XeroTM
  • Maintenance of Customers and Suppliers contacts for easy invoicing and prompt payments via XeroTM
  • Preparation of year-end financial statements, including statements of comprehensive income, statements of financial position, cash flow statements, statements of changes in equity and notes to the accounts (Singapore Financial Reporting Standards-compliant)
  • Assistance in the statutory reporting process, including liaison with auditors
  • Completion of MAS and other required forms for submission to government agencies

New Startups
From
SGD200

per month

SMEs
From
SGD500

per month

MNCs
From
SGD1,000

per month

02 XBRL Financial Statements: Expedite Your ACRA Filing

  • Preparation of financial statements in XBRL format for ACRA filling
  • XBRL Conversion of Financial Statement

Find out more about our XBRL conversion and filing services

New Startups
From
SGD100

per annum

SMEs
From
SGD200

per annum

MNCs
From
SGD400

per annum

03 Consolidation of Group Accounts

  • Preparation of group consolidated accounts with multiple subsidiaries
Package availableFee (SGD)
Preparation of Consolidated Accounts – One Subsidiaryfrom $800 (W/GST $856)
Preparation of Consolidated Accounts – Two Subsidiariesfrom $1,200 (W/GST $1,284)
Preparation of Consolidated Accounts – More than Two SubsidiariesCall for quotation today

04 Cash Management

  • For the purpose of cash management services, we assist our clients in maintaining bank accounts wherein the clients’ funds are received and disbursed on their behalf (eg. payment of vendor invoices). Bank reconciliation will be performed on a monthly basis.

New Startups
From
SGD35

per month

SMEs
From
SGD120

per month

MNCs
From
SGD500

per month

05 Financial Management Solutions

  • Quick resolution of accounting and bookkeeping issues for your Singapore business
  • Implementation of XeroTM Accounting Software for real-time financial reporting services

Bookkeeping and accounting are integral parts of operating a business in Singapore. BoardRoom can help you stay up-to-date and maintain your compliance with the latest regulations in Singapore. Have additional questions about what kind of services we can offer your business as an accounting firm in Singapore? Don’t hesitate to contact us today with your enquiry.

Why Choose BoardRoom?

Because we help take your business further, faster, at all stages

BoardRoom is Asia-Pacific’s leader in Corporate and Advisory Services including Regional Employee Plan Services, Regional Payroll Services, Corporate Secretarial Services, Share Registry Services, Accounting and Taxation Services, Payroll Outsourcing, and Human Resource Outsourcing.

For over 50 years, we have supported companies in navigating through complex operational and regulatory policies and cultural sensibilities. We are well-positioned in Asia-Pacific with offices in Singapore, Australia, China, Hong Kong, and Malaysia, as well as an extensive partner network throughout Asia.

BoardRoom is the partner of choice for many Fortune 500 multinational companies, public listed and privately owned enterprises.

Get in touch with our accounting expert today!

YOUR POINT OF CONTACT

Chester Leong

Regional Managing Director, BoardRoom Business Solutions

Frequently Asked Questions (FAQs)

1. How can accounting services help my business?

Whether you run a small business or a multinational corporation, every business can benefit from some sort of accounting services.

Accounting can help your business succeed by giving you insights into the overall financial health of your company, offering a precise report of your cash flow, demonstrating opportunities for growth and keeping you organised and accurate when filing your taxes.

2. How does outsourced bookkeeping work?

When you outsource your bookkeeping, you will have to grant your vendor full access to your company’s financial information. Some companies prefer to grant vendors a “read-only” access to ensure no external parties have access to company’s funds. In general, outsourced bookkeeping should be digitalized for ease of convenience.

Outsourcing your bookkeeping can look different depending on your business’s size and needs. Smaller businesses typically outsource their bookkeeping to a local Certified Public Accountant (“CPA”), while larger corporations outsource their accounting to larger firms like BoardRoom. When you outsource your bookkeeping the firm you have outsourced to will typically handle all your taxation requirements such as tax strategy, tax preparation and tax filing.

3. What is included in accounting/bookkeeping services?

This will vary depending on the bookkeeping firm, but typically accounting agencies will offer tax strategy, tax preparation, and tax filing services.

If you are looking for a service that is all-encompassing, you should also seek an accounting service that offers payroll processing, account reconciliations, financial strategising, and more.

4. What do companies look for in an accounting firm?

What you should look for in an accounting firm will depend on the size and complexity of your business’s needs.

If you run a smaller business and simply need some help filing taxes, then ask family and friends for a trustworthy recommendation for a CPA. Make sure that they have the necessary licenses and certifications.

If you run a larger company and need something more sophisticated, it is recommended to examine the firm’s scope of service, as well as their experience and their accounting tools.

5. When do I outsource accounting management?

There is no “perfect” time to outsource accounting management, but as a business owner, it would be ideal to start your business with your accounting services already established.

Having said that, it is also quite common for companies to outgrow their small accounting solutions and seek more scale-friendly alternatives.

6. Where do I get professional accounting services?

BoardRoom is Asia-Pacific’s leader in professional services including Accounting and Taxation Services, Payroll Outsourcing, and Human Resource Outsourcing.

For over 50 years, we have supported companies in navigating through complex operational and regulatory policies and cultural sensibilities. We are well-positioned in Asia-Pacific with offices in Singapore, Australia, China, Hong Kong, and Malaysia, as well as an extensive partner network throughout Asia.

BoardRoom is the partner of choice for many Fortune 500 multinational companies, public listed and privately owned enterprises.

If you are looking to outsource your accounting, kindly contact us today.

7. Why do businesses need accurate bookkeeping?

If you run a business, it is crucial for you to keep track of your business’s finances. This means tracking your profits and losses, as well as filing your taxes correctly and timely, and ensuring that your business is compliant with current tax regulations.

8. What are the top accounting software?

While there are many accounting software options, we prefer a solution that supports businesses of all shapes and sizes, which is why we are proud to hold Gold Partner status with Xero™.

Xero™ cloud-based software is an ideal choice for its streamlined interface as well as its simple integration with payment services such as Stripe, Paypal, and traditional banks. Xero™ also supports multiple currencies and offers robust financial reporting.

9. How can BoardRoom help in accounting services?

Here at BoardRoom, we have been helping companies across Asia and Australia with their bookkeeping and accounting services. Our experienced professionals are committed to filing your taxes and keeping your business tax compliant.