Accounting and Bookkeeping

All Singapore registered companies registered in Singapore must keep proper accounting records as stipulated by the Singapore Companies Act and Singapore Income Tax Act. It is about facilitating your day-to-day operations, preparation of financial statements for statutory compliance, provides insight for sound business decision making and in turn create a trusted reputation of your business. Let us help you to build this trust together.

At Biz Square, we do not believe in a standard package that fits all for accounting and bookkeeping services. A key factor that differentiates us is our ability to add value and tailor to the needs of our clients because they are all unique in their own way. A discussion on your business nature and transactions volume is all it takes for us to customise a package according to your needs and requirements. Our accounting and bookkeeping services comprise the below:

1. Setup of accounting books and records by creating a filing system for documents, such as billing invoices, vendor invoices, receipt vouchers, payment vouchers, journal vouchers, bank statements, government notices, etc.$300 one-time fee
2. Setup of accounting software, includes:
a. Creation of chart of accounts
b. Customisation of templates (3 documents) – Quotation, sale invoice and receipt
(additional customisation – from $50 per template)
$450 one-time fee
3. Compilation of unaudited financial statements in compliance with Singapore Financial Reporting StandardsDormant company @ $300
(with statutory expenses only)
Active company from $600
4. Preparation of annual report in eXtensible Business Reporting Language (“XBRL”) formatFrom $500
5. On demand staff secondment to resolve temporary resource shortages or assist with backlogged accounts, etcFrom $80 per hour

BOOKKEEPING SERVICES (includes the following but not limited to)FEE (Per Annum)
1. Financial statements i.e. Income Statement and Balance Sheet
2. Bank reconciliation
3. Notes to financial statements
4. Trial balance
5. General ledger
6. Accounts receivable ledger
7. Accounts payable ledger
8. Fixed asset ledger
9. Books cleaning up
10. Report on findings and recommendations (if any)
Dormant company @ $100
(with statutory expenses only)

Active company:
First 250 transactions from $600
Subsequent block of 250 transactions from $500

*Additional charges may apply depends on complexity

*Please contact us for a discussion if you are looking for bookkeping on a monthly, quarterly or semi-annually basis.

Get in touch with us now for a discussion and customisation of a package which is uniquely yours.