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Singapore Accounting Services

We deliver tailored solutions designed to streamline and enhance your experience with professional accounting services.

[Live] Singapore Accounting Services2025-04-16T14:46:02+08:00

Key Note

As one of the leading accounting firms, we provide professional accounting services to clients in Singapore. Such accounting services will be required after your company’s incorporation. While registering your company is crucial, maintaining a clockwork process for payroll, financial auditing, and bookkeeping is necessary to sustain and expand your company. It will not only attract more business partners and potential employees but will also guarantee adherence to various business laws.

Singapore Accounting Services

Outsourcing accounting services with Paul Hype Page & Co. streamlines time-consuming processes like payroll, auditing, financial reporting, and bookkeeping, allowing businesses to focus on growth. Professional expertise ensures accurate budgeting, payroll processing, and debt management, improving cash flow and providing insights into product line profitability for future expansion.

Related Read: Tax Residency in Singapore

What Does Accounting Include?

  • Cash Flow & Working Capital Analysis
  • Account Consolidation Services & Financial Statements
  • Management Reports & Accounts
  • Financial Planning & Budgeting
  • XBRL Filing of Annual Returns
  • Payroll Tax Reporting
  • Advisory Services
  • GST Filing
Financial planning and budgeting

Accounts Consolidation Services

Account consolidation services are required to allow management team to understand the company’s current financial status. The consolidation reflects all of company’s assets and original entities.

The service includes calculation of goodwill on consolidation, inter-company transactional processes, adjustments form cost to equity, fair value adjustments as well as purchase price allocation.

Cash Flow & Working Capital Analysis

Small and Medium Enterprises (SMEs) and start-ups are usually clueless when it comes to analysing and identifying, assessing, and addressing their working capital and cash flow. They include:

  • Drafting of engagement letters
  • Conducting pre-project diagnoses
  • Integration of measures proposed by business owners
  • Conducting management review sessions

Financial Planning & Budgeting

The purpose of planning and budgeting services is to help SMEs structure and implement proper budget practices while managing their financial resources. Some services included are:

  • Analysing past financial performance regarding revenue and expenses
  • Developing an implementation road map
  • Developing and integrating customised templates related to the company’s finances
  • Integrating insights to initiate and structure budgeting processes for SMEs

Filing Deadlines in Singapore

As per your company’s financial activities during the accounting year, it is essential to prepare your annual financial statements following the Financial Reporting Standards of Singapore. These are a few crucial deadlines to take note of to ensure you do not miss them!

Financial Year End (FYE)

The financial year end is a deadline to file reports. The date can be decided at the company’s discretion.

Estimated Chargeable Income (ECI)

Taxable income minus tax-allowable expenses will be required to be filled 3 months after the Financial Year End.

Annual Tax Return

Every company in Singapore is required to submit its annual tax return to the Inland Revenue Authority of Singapore (IRAS) on or before November 30. Singapore follows a preceding year basis for taxation, meaning that the profits earned during the financial year that ended in the previous year will serve as the foundation for filing the tax return in the current year.

Our Singapore Accounting Services

We specialize in providing comprehensive accounting services in Singapore, ensuring accurate financial reporting and compliance with statutory requirements. Our expertise includes managing bookkeeping, preparing financial statements, and offering strategic insights to optimize your business’s financial health and performance.

Bookkeeping and Financial Reporting

  • Accurate record-keeping to ensure up-to-date financial data for informed decision-making.
  • Preparation of financial statements in compliance with Singapore Financial Reporting Standards (SFRS).
  • Monthly management reports to track business performance and cash flow.
  • Customized reporting templates tailored to business-specific requirements.
  • Year-end adjustments and reconciliations for a smooth financial year closure.

Payroll and Employee Compensation Management

  • Accurate payroll processing to ensure compliance with statutory regulations.
  • CPF and tax calculations for seamless submissions to relevant authorities.
  • Preparation of employee payslips in accordance with MOM guidelines.
  • Leave management and benefits tracking integrated with payroll systems.
  • Annual IR8A submissions for employee income reporting.

Corporate Tax Planning and Compliance

  • Tax filing and registration with the Inland Revenue Authority of Singapore (IRAS).
  • Tax-efficient strategies to minimize corporate tax liabilities.
  • GST registration and reporting to ensure accurate compliance.
  • Advisory on tax exemptions and incentives under Singapore’s tax schemes.
  • Representation during IRAS audits or inquiries for smooth resolution.

Business Advisory and Financial Analysis

  • Budgeting and forecasting services for financial planning.
  • Cost and revenue analysis to identify growth opportunities.
  • Cash flow management strategies to maintain business liquidity.
  • KPI tracking and performance reviews to align with business goals.
  • Insights on business restructuring or expansion based on financial data.

Audit Support and Compliance

  • Preparation of audit-ready financial documents to save time and ensure accuracy.
  • Internal audit reviews to identify and rectify discrepancies.
  • Compliance with statutory regulations and SFRS requirements.
  • Advisory on improving internal controls to reduce financial risks.
  • Assistance with external audit processes for a hassle-free experience.
Need more information on our services? today!

Experienced Business Consultants

Our 2 Decades of Proven Expertise Will Guide Your Business

With over two decades of expertise spanning Singapore, Malaysia, Indonesia, and Hong Kong, we have successfully supported over 2,000 companies in streamlining their accounting and financial compliance processes. In Singapore, our in-depth knowledge of accounting standards and regulatory requirements allows us to deliver exceptional results for businesses navigating complex financial reporting and compliance obligations. As trusted advisors, we leverage strategic insights and tailored accounting solutions to empower companies, ensuring accurate financial management, improved efficiency, and a strong foundation for growth in Singapore’s competitive business environment.

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Differences Between Accounting & Bookkeeping

Many small business owners do not know and understand the difference between outsourced accounting and bookkeeping – especially if they do not have a background on finance.

To sum up the difference, we detailed out a simple table below.

Accounting Bookkeeping
Used for business and financial analysis to guide overall business decisions Record keeping of all financial transactions
Follow-up function from bookkeeping Starting point for accurate analysis, usually coming from raw data (e.g. receipts, invoices, etc.)
More complex and requires strong financial analytical knowledge to dissect the figures to derive key action plans and financial statements Organisation of records and ledgers is the key skill required for this role with basic knowledge on financial reporting standards

Frequently Asked Questions

We’ve picked the top questions that we get asked the most when it comes to accounting services in Singapore.

What are the typical accounting services?2024-09-09T14:59:21+08:00

The typical accounting services include account consolidation, preparing of financial statements, tax filing, audit, and advisory services.

Is a professional accountant necessary for businesses?2022-06-27T15:03:47+08:00

It is highly encouraged for every business to have a professional accountant to comply with the annual compliance and avoid penalties.

What is XBRL?2022-06-27T15:03:27+08:00

eXtensible Business Reporting Language (XBRL) is a language for e-communication for business and financial data. It provides major benefits in the analysis and communication of business information, and offers cost savings, greater efficiency, and improved accuracy and reliability to all those involved in using financial data.

What should I look for when hiring an accountant or accounting firm in Singapore?2022-06-27T15:03:08+08:00

It is important to know if they are chartered or certified. Hiring and engaging an accounting firm that has relevant experience in your field will definitely be a plus. You should also consider engaging a local accounting firm, so they are updated with the latest regulations.

How should SMEs owners choose the right accountant?2021-09-20T13:40:59+08:00

When choosing an accountant, SMEs’ owners should ensure the candidate is a certified or chartered accountant. Of course, hiring an accountant with relevant experience in the business field will be a plus. 

Do SMEs need to hire a professional accountant?2021-09-20T13:40:27+08:00

It depends on the owner’s background and expertise. If an SME business owner has no clue where to start and the basic accounting knowledge, it is best to hire one to make sure the company is complying with the annual compliance.

How do SMEs owners evaluate if they should hire a professional accountant for their business?2021-09-20T13:39:44+08:00

SMEs owners should consider hiring a professional accountant for their business if they are not familiar with Singapore’s corporate tax regulations, requirements, and tax laws.

Where can I hire a reliable professional accountant?2023-08-24T13:31:39+08:00

You can hire a reliable professional accountant for your company from Paul Hype Page. We are the leading and trusted accounting service provider in Singapore.

How do I evaluate if I should hire a professional accountant for my business?2021-01-19T10:04:50+08:00

You should consider hiring a professional accountant for your business if you are not familiar with Singapore’s corporate tax regulations, requirements, and tax laws. It is also a sign to hire a professional accountant for your business if you are not sure when to register GST (Goods and Services Tax).

How should one choose the right accountant?2021-01-19T10:04:35+08:00

When choosing an accountant, you should ensure the candidate is a certified or chartered accountant. Of course, hiring an accountant with relevant experience in the business field will be a plus.

Why must financial reporting be done by an independent third-party accounting firm?2021-01-19T10:03:52+08:00

Financial reporting must be done by an independent third-party accounting firm to ensure credibility. If a financial reporting is conducted by someone linked to the company, the results generated may be biased or deliberately falsified.

This may happen because the in-house worker may want to make the company appear to be in a better financial situation than the one it may be in. For this reason, it is advisable to use the services of an external accounting firm.

Can Foreign Accountants work for Singapore companies?2020-06-22T12:31:27+08:00

There are no restrictions placed on foreign accountants in Singapore. Any accountant who has obtained the necessary qualifications and work permits (if the accountant is a foreigner) may work for a Singapore company. 

Why must Financial reporting be done by an independent third-party accounting firm?2020-06-22T12:31:13+08:00

There is a possibility that if financial reporting is done by someone linked to the company in question, the results generated may be biased or deliberately falsified. This may happen because the in-house worker may desire to make the company appear to be in a better financial situation than the one it may actually be in. For this reason, it is preferable to use the services of an external accounting firm. 

What is an implementation roadmap?2020-06-22T12:30:36+08:00

An implementation roadmap is a business strategy which details a specific plan. This plan is intended to help a business attain its corporate objectives. Most businesses would benefit from having a well-crafted implementation roadmap. 

Have more questions? today!

Our Singapore Accounting Guides

Learn more about the Singapore accounting landscape and beyond to understand more about the regulatory compliance needed.

What are the Benefits of Business Audits in Singapore?

What are the Benefits of Business Audits in Singapore?

What are the Different Elements in Payroll Management

What are the Different Elements in Payroll Management

How to Prepare Financial Statements in Singapore?

How to Prepare Financial Statements in Singapore?

13 Accounting Tips for Singapore’s Startups & SMEs

13 Accounting Tips for Singapore’s Startups & SMEs

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30 Petain Road Singapore 208099

A company is deemed exempt from audits in Singapore, which means these companies will not need to appoint an auditor to have their accounts audited. However, they need to qualify to be a ‘small’ company based on at least 2 of these 3 criteria:

  1. Revenue not exceeding SGD 10 million for the financial year.
  2. Total assets not exceeding SGD 10 million at the end of the financial year.
  3. Number of employees not exceeding 50.

Despite such small companies are exempt from auditing, they still need to prepare accurate financial statements that comply with the standards in Singapore.

Auditing Practices in Singapore

  1. Enhances Credibility And Trust
    By providing independent assurance of the accuracy and reliability of a company’s financial statements, auditing helps to build credibility and trust with investors, creditors, and other stakeholders. This can lead to increased confidence in the company’s financial position and ultimately support its long-term success.
  2. Improves Financial Management
    Auditing provides valuable insights into a company’s financial health, which can help your managers make better decisions and improve financial management practices. This in turn leads to improved efficiency, better use of resources, and ultimately better financial results.
  3. Ensures Compliance With Regulations
    Auditing helps to ensure that a company complies with regulatory requirements and industry standards. By ensuring compliance with regulations, your company will be able to avoid legal and financial penalties and operate in a responsible and ethical manner.
  4. Helps Detect And Prevent Fraud
    Auditors are trained to identify and investigate fraud and other irregularities, which will definitely help you avoid any fraudulent activities in a company. This is especially important for maintaining the integrity of financial reporting and ensuring that stakeholders have accurate information to make informed decisio

ACRA
ACRA is Singapore’s business regulator. It ensures a trusted business environment by overseeing companies, accountants, and corporate service providers. Its functions include registration, financial reporting, auditing, governance, and disclosure. ACRA’s online platform, BizFile+, simplifies business processes.

IRAS
IRAS is Singapore’s tax authority. It assesses, collects, and refunds taxes. IRAS also educates taxpayers and investigates non-compliance. The MyIRAS portal offers online tax services.

Auditing in Singapore
In essence, ACRA sets the rules, and IRAS enforces them. Both agencies work together to maintain the integrity of financial reporting and ensure that companies are operating within the law. This is essential for investors, lenders, and other stakeholders who rely on accurate financial information.

certified audit partner logo

Paul Hype Page provides you with strategic business expansion and business compliance services for over 2 decades, servicing the best of the South East Asia region. We make your entrepreneurial experience seamless for both locals and foreign expats.

We can issue an IRAS-approved audit report that meets both the Singapore government’s requirements and your company’s needs. The audit function of your company is in good hands with our professional Singapore-certified auditors.

Our audit services in Singapore consist of a vast variety to cater to the specific needs of your organization.

  1. Annual Financial Audit
  2. Special Purpose Audit
  3. Certification for Subsidy Claim
  4. Audit
  5. Fixed Assets Certification
  6. Claim Certification
  7. Shares Certification
  8. Personal Income Certification

Foreigners looking to incorporate a company in Singapore must appoint a nominee director (local director) as required by ACRA regulations. A nominee director acts on behalf of the business owner but does not hold ownership or management control.

For Employment Pass (EP) holders, nominee director services allow for a smooth transition of ownership once the EP is approved. Options include Short-Term Nominee Director (STND) services for 2 or 6 months, ensuring compliance while awaiting EP approval.

If you are a foreigner, you cannot be the director of the company unless you have an Employment Pass also known as an EP. This renewable work visa permits you to live and work in Singapore, whether you’re an employee, business owner, or anything in between.

It’s the most popular choice for foreigners looking to start a business or relocate to Singapore.

First, You will have to incorporate your company under the name of a local Singapore director (Nominee Director). Then, you will have to apply EPass under your company so that we can transfer the ownership to you under your Employment Pass (EP).

The estimated timeline for the Singapore EP application is between 2-4 months, depending on the case. In some instances, it could drag up to 6 months if multiple rounds of appeals are requested.

Singapore Employment Pass (EP) – Eligibility & Benefits

The Singapore Employment Pass (EP) is a work visa for foreign professionals, managers, and executives relocating to Singapore.

Eligibility Criteria

You can apply for an EP if you:
✔️ Have a job offer in a managerial, executive, or specialized role from a Singapore company
✔️ Earn a minimum fixed salary of S$5,000/month
✔️ Hold a recognized diploma or degree from a reputable university
✔️ Possess specialist skills, professional qualifications, or relevant work experience
✔️ Score at least 40 points under the COMPASS framework

Why Apply for an Employment Pass?

✅ Legally live and work in Singapore
✅ Hassle-free travel without requiring an entry visa
✅ Potential pathway to Permanent Residency
✅ Flexibility to start and manage your own business
✅ Benefit from Singapore’s low tax rates

Are you a business owner in Singapore looking to expand your operations and reach new markets? Considering entry into a new market or expanding an existing one overseas? The MRA grant offers the financial boost you need to make it happen.

The purpose of the MRA grant is to support Singapore owned businesses for business development, promotion, and set-up costs when you set up a business in oversea.

At least 30% of the company’s equity must be held directly or indirectly by Singapore Permanent Residents (PRs) or citizens, determined by ultimate individual ownership.

The grant covers up to 50% of eligible costs for Local SMEs, with specific caps for different activities and limited to a maximum of S$100,000 per new market and may include:

  • Overseas Market Promotion (capped at S$20,000)
  • Overseas Business Development (capped at S$50,000)
  • Overseas Market Set-up (capped at S$30,000)

Currently, from April 1, 2023 to March 31, 2025, the grant covers up to 50% of eligible costs, capped at S$100,000.

If you are planning to establish a business in Singapore, opening a corporate bank account is a mandatory step upon incorporation. A dedicated corporate account ensures that business transactions remain separate from personal finances, allowing for clearer cash flow management, accurate income tracking, and efficient expense monitoring.

Our focus is to demonstrate your company’s tax substance and assist in selecting a banking solution tailored to your business needs. Most importantly, you do not need to be physically present—we collaborate with our trusted banking partners to enhance your chances of a successful corporate account opening.

If you are a foreigner, you will need a nominee director (local director) to incorporate your company in Singapore.

What is a Nominee Director?

Nominee director is an individual who is appointed to act as a director of the company on behalf of another individual or entity. For all foreigners establishing businesses in Singapore, having a nominee director is essential due to regulations from the Accounting & Corporate Regulatory Authority (ACRA).

There are 2 types of Nominee Director services in Singapore.

They are:

  • Long term Nominee Director (LTND) : 12 months
  • Short Term Nominee Director (STND) : 2 months and 6 months

If you are a foreigner, you cannot be the director of the company unless you have an Employment Pass.

First, You will have to incorporate your company under the name of a local Singapore director (Nominee Director). Then, you will have to apply EPass under your company so that we can transfer the ownership to you under your Employment Pass (EP).

What is Singapore Employment Pass?

Singapore Employment Pass, often referred to as the ‘EP,’ a work visa is issued to foreign professionals, managers, executives, and experts relocating to work in Singapore.

The estimated timeline for the Singapore EP application is between 2-4 months, depending on the case. In some instances, it could drag up to 6 months if multiple rounds of appeals are requested.

Check Your Company Name through ACRA using our free tool!

The requirements for registering a company in Singapore are simple and straightforward. They are:

At least one local resident director

Both Singapore residents and foreigners can serve as directors of a Singapore company, provided there is at least one director who is a Singapore resident.

At least one shareholder

To register a company in Singapore, you need at least one shareholder who can be a person or another company. You can have up to 50 shareholders, and all of them can be foreigners.

Local company secretary

Every Singapore company must have a company secretary who lives in Singapore and is responsible for ensuring the company meets its regulatory requirements and submits necessary filings.

Minimum of $1 Paid up Capital

You can establish your Singapore company with just $1 in paid up capital and share capital. If needed, you can add more funds later and inform the company registrar.

Registered Address in Singapore

Your company needs a registered address in Singapore where all the official documents will be sent to ; a PO box isn’t acceptable.
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