Bookkeeping and Accounting Services in Singapore
Get in touch with our Accounting Experts
Bookkeeping and Accounting Services:
Experience excellence and unleash your business’s potential with our accounting and bookkeeping in Singapore.From navigating complex tax regulations to seamless payroll management, we’re your financial partners for success. Dive into insightful financial reporting, conquer GST compliance, and let us transform numbers into opportunities. Our services blend precision with innovation, ensuring your financial journey in Singapore is a breeze.
Our Singapore Bookkeeping and Accounting Services:
Accounting Services
All Singapore companies are required to prepare and keep a book of accounts. This consists of a Profit and Loss Account, Balance Sheet, Cash Flow Statement, and Equity Statement – all of which must be in accordance with the Singapore Financial Reporting Standard (SFRS). Our accountants will maintain your Book of Accounts in a timely manner so as to provide a true and fair representation of your company’s financial records. We also offer book auditing and Singapore accounting services. Learn More »
Goods and Services Tax (GST) Submission
GST is a consumption tax levied on the import of goods as well as nearly all supplies of goods and services in Singapore. Businesses whose taxable supply exceeds or is expected to exceed S$1 million for any consecutive 12 month period are required to register for GST with IRAS. GST-registered entities must submit quarterly GST returns. Any GST paid by a company can be claimed from the IRAS. Businesses may also voluntarily register for GST. Learn More »
Drafting of Auditor’s and Director’s Report Services
Companies are required to submit an Independent Auditor’s as well as Director’s Report as part of their annual filing requirements. Only companies which have an annual turnover of over S$10 million, more than 20 shareholders or at least one shareholder that is a corporate entity, must be audited. Both reports are part of a system of checks and balances to ensure sound financial practices, and in turn, enhance investors’ confidence and uphold shareholders’ interest. Learn More »
Financial Statements in Extensible Business Reporting Language (XBRL)
Starting 2 December 2013, almost all companies will need to file their financial statements in XBRL via the new BizFinx system. XBRL (Extensible Business Reporting Language) allows financial data to be analysed easily. It is adopted in Singapore as it improves the transparency, reliability and timely dissemination of relevant financial information among the business community. Learn More »
Singapore Payroll Service
Companies in Singapore must pay the salaries of their employees in a timely manner. They must also ensure that the deductions made from the salaries of their employees are submitted to the CPF board on time. Computation of basic wages, overtime wages, bonuses etc are some of the basic elements of payroll processing. However, in Singapore, the computation of donations to funds such as SINDA, MBMF, ECF, levies including the Skills Development Levy, and withholding tax etc make it a complex function. Learn More »
Singapore Payroll and Expense Claim Service
Alongside payroll, companies in Singapore have to compute expense and travel-related claims filed by employees. However, this process is often manual and as a result, inefficient. Encounters of missing or faded receipts or errors in claim reconciliation figures are common. Such errors can be eliminated with a Payroll and Expense Claim Management Software that allows for the tracking and management of employee expense claim with minimal administration and maximum efficiency. Learn More »
Why should you choose Rikvin as your trusted Accounting and Bookkeeping Expert?
Rikvin offers top-tier company incorporation services in Singapore, backed by industry experts with extensive expertise in assisting corporate clients. Our dedicated business consultants work closely with you to thoroughly understand your unique business needs. They bring a wealth of knowledge to the table, guiding you through every step of company incorporation in Singapore.
Be served by a dedicated account manager
Our licensed specialists will attend to your accounting, compliance, taxation and budgeting needs thoroughly.
FAQ about Bookkeeping and Accounting Services in Singapore
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• Bookkeeping: It involves recording and organising financial transactions such as sales, purchases, expenses, and payments. Bookkeepers create the foundation for accounting by maintaining accurate records.
• Accounting: Accounting goes beyond bookkeeping and involves interpreting, classifying, analysing, and summarising financial data. Accountants use this information to generate financial statements, provide insights, and make financial decisions.
- GST is a consumption tax in Singapore. Depending on your annual revenue, your business may need to register for GST and charge GST on sales. Professional accounting services in Singapore can help you navigate GST registration and compliance.
- You must retain records and accounts for a minimum of 5 years to comply with Singapore’s tax laws and regulations.
- Outsourcing your bookkeeping to a third party allows you to maintain control over your business. You’ll retain access to your financial records and the authority to make decisions regarding your expenditures. This move can provide cost and time savings, as well as the assurance that your finances are being managed competently by professionals.
Client Success Stories
Our experience of Rikvin has been excellent. Team Rikvin provided exceptionally professional and timely advice in the process of setting up my law practice, including handling all aspects of incorporation, accounting, tax and compliance, and HR issues.”
Abraham Vergis, Managing Director,
Providence Law Asia LLC
We got a referral from several business partners and our experience so far has been excellent. We have consulted several incorporation service providers but none has matched the promptness and service level we received from Rikvin.”
