ACCOUNTING & BOOKKEEPING SERVICES

Ensure your accounts are accurate and efficient with trusted accounting and bookkeeping services

Accounting is one of the most important business processes to get right, because it critically influences your organisation’s growth and success. Partnering with a trustworthy accounting firm in Singapore that understands the local laws and regulations, while also maintaining a global presence, is a key part of this success.

Reliable outsourced accounting services

BoardRoom’s team of certified chartered accountants and finance professionals has the skills and expertise to ensure your accounting is accurate, efficient and compliant with local laws and regulations.

Outsourcing to our experts enables you to keep managing your core business operations without the inconvenience or hassle of managing an extra in-house accounting team. Our trained and knowledgeable staff are up-to-date with the latest regulations and requirements, setting your business up for success.

With BoardRoom, your company can operate safely and efficiently with confidence. Through offering unique business insights, our professional advisors help you better understand the local industry landscape and strengthen your company’s overall performance.

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Xero Gold Partner

BoardRoom is proud to be a Xero Gold Partner. This accreditation recognises:

  • our in-depth knowledge of the software;
  • the high level of support we offer our clients; and
  • our ongoing commitment to optimising our business efficiency with advanced technology.

Outsourcing your accounting services to us gives you the benefit of a Singapore-based accounting firm that understands the power of technology to improve operations.

How we can help with outsourced accounting services?

Ensuring your accounting aligns with local Singapore and APAC-wide accounting standards is crucial to maintaining your business’s reputation. As a global accounting firm based in Singapore, our team has a comprehensive understanding of specific local country requirements to keep your accounting records compliant.

01

Statutory reporting & compliance services

Statutory reporting, whilst typically only occurring annually, is an essential part of maintaining compliance with the authorities. This type of reporting tends to be a high level consolidation of your accounts, required by Government agencies, to ensure you are operating within the law. Whilst this may seem like a simple requirement, it can be complex ensuring you’re adhering to the specific formats required.

02

Management purpose reporting

Management bookkeeping is unique to you and your business requirements. An experienced outsourcing firm like BoardRoom will be able to provide a wealth of data and insight into your business through analysis on your P&L (Profit and Loss), EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) ratios, liquidity ratios, margins, investment deposits to determine how your company is performing.

03

Group accounts consolidation

Consolidating your group accounts can save your finance team valuable time and money. Understanding how to consolidate financial statements is especially important if you are a business that operates its subsidiary companies across various regions or countries. This allows your team to accurately represent financial results for investors and for Accounting and Corporate Regulatory Authority (ACRA) filing purposes.

Our accounting services

As one of the Asia-Pacific region’s most trusted accounting firms, we ensure that your business fulfils all local regulatory authority compliance requirements, maintaining the integrity of your company’s reputation.

01 Bookkeeping for management and statutory compliance

Our accounting services across the Asia-Pacific region can free you from day-to-day account maintenance. It will also provide you with detailed insight into your business, maximising performance and streamlining your operations.

BoardRoom’s accounting and bookkeeping experts can help you with all your accounting reporting requirements. From management to statutory compliance reporting, our professional team will help guide your business throughout Asia-Pacific. There is a wealth of data and insight available to your business when you choose the right accounting outsourcing partner.

We can help with:

  • completing accounting entries, including compiling:
    • general ledger reports;
    • trial balances;
    • profit and loss statements;
    • balance sheets; and
    • balance sheet schedules for management reporting and financial analysis.
  • preparing year-end financial statements that are compliant with the Singapore Financial Reporting Standards, including:
    • statements of comprehensive income;
    • statements of financial position;
    • cash flow statements;
    • statements of changes in equity; and
    • notes to the account.
  • assisting in the statutory reporting process – for example, liaising with auditors; and
  • completing MAS and other required forms for submission to government agencies.
Fees

New Startups
From
SGD200

per month

SMEs
From
SGD500

per month

MNCs
From
SGD1,000

per month

02 XBRL financial statements

XBRL conversion filing is a highly time-consuming, yet necessary, process for running a company in Singapore. We can take care of all your XBRL needs, saving you time and resources that you can reallocate towards your core business growth.

Our outsourced accounting services have supported over 1,000 companies in their XBRL conversions. Through years of experience, we have refined and streamlined our XBRL conversion process to make this process seamless for our clients.

Our expert team will handle your company’s XBRL work in an organised and attentive manner while also providing a single point of contact.

We can help with:

Preparing financial statements in XBRL format for ACRA filing
XBRL conversion and XBRL financial statement filing
Facilitating ACRA filings in a 100% ACRA-compliant way
Fees

New Startups
From
SGD100

per annum

SMEs
From
SGD200

per annum

MNCs
From
SGD400

per annum

03 Consolidating group accounts

Consolidating your group accounts can save your finance team valuable time and money. Understanding how to consolidate financial statements is especially important if you are a business that operates its subsidiary companies across various regions or countries. This is because it allows your team to accurately represent financial results for investors and Accounting and Corporate Regulatory Authority (ACRA) filing purposes.

BoardRoom can help you to manage this process with our skilled consolidation agents. We understand the complexities of consolidating accounts, such as situations where the parent company does not 100% own a subsidiary company.

Let our team guide you through the process to ensure accuracy and accountability for your company and stakeholders.

Fees
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

Distributing company funds can be a complicated process. BoardRoom can help make it easier by streamlining your accounting services with payment support facilities to oversee proper fund distribution and administration.

Our comprehensive approach includes a variety of outsourced accounting services, such as:

Coordinating in-house accounting and HR/Payroll functions to facilitate easy employee and supplier payment approvals
Providing accounts payable solutions to manage supplier and vendor payments
Setting up organisational payment obligations, simplifying the accounting process

Streamlining your accounting services reduces the administrative burden that these critical tasks create. Our professional accounting team removes the labour-intensive duties from your staff, while ensuring compliance and accuracy across all transactions.

Fees

New Startups
From
SGD35

per month

SMEs
From
SGD120

per month

MNCs
From
SGD500

per month

Why Choose BoardRoom?

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

Partnering with an experienced Singapore-based accounting firm with a global presence can help you reduce costs, minimise risk and increase potential revenue growth, while ensuring you meet all compliance obligations in each region.

With a proven track record built over 50 years, BoardRoom has become one of the region’s most trusted accounting services providers.

Save time and money
Outsourcing your accounting services enables you to keep managing your core business operations without having to maintain trained, knowledgeable staff to handle day-to-day accounting functions in-house.
Maintain cross-border compliance
Our team of finance specialists has expertise and experience across multiple Asia-Pacific jurisdictions. We can help to reduce administrative burden while lowering your risk of financial penalties for non-compliance.
Increase productivity
Our accounting and bookkeeping services across the Asia-Pacific region can free you from day-to-day account maintenance. It will also provide you with detailed insight into your business, maximising performance and streamlining your operations.
Improve efficiency and security
A secure cloud-based financial system can streamline and automate your accounting flow. Recognising that every client needs a tailored solution, we work alongside global organisations, including SAP, to identify and implement the right financial management solution and systems for each client.

Get in touch with our accounting expert today!

YOUR POINT OF CONTACT

Chester Leong

Managing Director Asia, Tax and Accounting

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.