12 Best Accounting Companies in Singapore

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Accounting is a foundational business function for companies of all sizes, but especially critical for startups and small and medium enterprises (SMEs) in Singapore. Proper bookkeeping, financial reporting, payroll, tax compliance, and advisory services provide entrepreneurs and business owners with data-driven insights into their company's performance and financial health. Outsourced accounting is an advantageous solution that provides startups and SMEs access to financial expertise, improved efficiency, technology, and insights to inform smart business decisions. This article explores the benefits of outsourced accounting in depth, profiles prominent accounting companies in Singapore catering to startups and SMEs, and provides closing thoughts on choosing the right accounting partner.

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What are the Advantages of Outsourcing Accounting for Startups and SMEs in Singapore?

Handling accounting functions in-house requires substantial financial investment and human resources. For startups and SMEs focused on business survival and growth, maintaining internal accounting teams can be an unnecessary cost and distraction. Outsourcing to an experienced accounting partner provides the following key benefits:

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Access to Accounting Expertise and Experience 

Accounting is a complex discipline requiring knowledge of bookkeeping, financial reporting standards, tax regulations, payroll guidelines, and auditing processes. Startups and SMEs often lack expertise in these areas. Accounting firms employ qualified accountants like Certified Public Accountants (CPAs) and chartered accountants (CAs) who specialize in accounting for small businesses. Their expertise ensures transactions and reports adhere to required standards. Outsourced partners also bring experience working with diverse industries and business structures. They understand the accounting needs of growing startups and small teams.

Improved Efficiency and Productivity 

Accurate bookkeeping and financial reporting require consistency, organization, and timeliness. For business owners focused on operations, marketing, sales, and customer service, accounting can be an unwelcome distraction. Outsourcing transfers time-consuming accounting work to capable partners so startups can focus on core business activities. This enables higher efficiency and productivity. Partners with expertise and technical resources also complete tasks faster. Cloud-based tools streamline collaboration for real-time visibility and approvals.

Significant Cost Savings 

Hiring skilled in-house accountants is expensive when factoring in salary, benefits, training, and professional development. As startups have limited resources, outsourced services are more cost-effective. Affordable packages allow access to accountants without the overhead costs of employees. Fees are also tax deductible. As businesses evolve, outsourced services quickly scale up or down to match needs and budgets.

Access to Advanced Accounting Technology 

Maintaining accounting systems requires investing in software, tools, infrastructure, and security. Startups often cannot match the technologies used by accounting firms. Outsourced partners utilize cloud-based platforms, automation, data integrations, and analytics that are more robust and secure than what early-stage businesses could implement independently. Advanced technologies improve record accuracy, analysis, and service delivery.

Compliance with Regulations and Standards 

Regulations like the Accounting Standards Act and Standards of Professional Conduct govern Singapore accounting. Partners ensure clients comply with these standards and guidelines for taxation, payroll, audits, and financial reporting. Their expertise prevents non-compliance penalties or issues that could impact funding and growth. Outsourced accounting provides ongoing guidance on required policies and procedural changes.

Data-driven Financial Insights and Advisory

 Beyond bookkeeping, outsourced accounting partners analyze financial statements, KPIs, performance metrics, and data to provide actionable business insights. Their objective perspective identifies issues and opportunities related to profitability, cash flow, cost reduction, financial planning, growth projection, and more. Partners act as a strategic advisor to inform both short-term decisions and long-term strategies.

Scalability During Business Evolution 

Startups and SMEs experience rapid evolution, organic growth, fundraising milestones, and strategy pivots. As operational and accounting needs change, outsourced services easily scale up or down as required. Partners tailor service packages and team structures to match growth stages. There is no need to hire and train in-house accountants constantly. Outsourced accounting also provides continuity and consistency amidst business evolution.

Access to Networks and Relationships 

Beyond financial expertise, accounting partners offer connections with lawyers, tax authorities, banks, investors, and other professionals that can support business growth. These relationships facilitate essential services and funding. Partners often have relationships across industries to support different client segments.

Reputable accounting companies in Singapore for Startups and SMEs Singapore is home to many accounting firms; however, identifying partners with relevant experience and expertise in early-stage business accounting can be challenging. The firms below have proven specializations serving startups and SMEs:

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What are Best Accounting Companies in Singapore?

Doerscircle Accounting Solution

Doerscircle sourced, screened, and negotiated the best accounting deals for your startup or small business in Singapore. The curated accounting packages cover the following areas:

• Monthly cloud accounting: Financial reports, initial setup, data entry, Bank Recon, monthly review and cloud subscription.
  
• Unaudited financial statements compliant with Singapore Financial Reporting Standards.
  
• Income tax filings with IRAS: Estimated Chargeable Income Filing (ECI) as well as Tax Computation & Schedules and Form C/C-S Filing
  

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Osome leverages automation and AI to deliver streamlined accounting, corporate secretarial, taxation, and payroll services to startups and SMEs in Singapore. Services include:

• Bookkeeping and Accounting - Software integrations automatically collect and categorize transactions for accurate financial statements. AI powers predictive reconciliation to reduce errors.
• Tax Compliance - Corporate tax filing, GST registration and filing, advisory on tax incentives, and planning opportunities to minimize tax liabilities.
• Payroll - Cloud-based payroll management covering payments, IR8A, leave tracking, auto submissions, and compliance.
• Corporate Secretarial - Prepare and file ACRA documents, share issuance, company health checks, strike-off applications, and restructuring.
• Accounting Advisory - Actionable insights and growth advisory based on performance analysis. Benchmarking against industry standards.

Packages come with a dedicated account manager for personalized service. Osome offers custom pricing suited to each client's business needs and stages. Service delivery is enhanced through technology like real-time dashboards, automated workflows, data integrations, and cloud collaboration.
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Sleek offers specialized accounting services for early-stage startups and internet companies. Their core expertise includes:

• Cloud Accounting - Sleek provides multi-currency bookkeeping powered by integrations with e-commerce, POS, bank, and other platforms. Machine learning speeds up transaction categorization and reconciliation.
• Financial Reporting - Detailed profit and loss statements, cash flow reports, balance sheets, and growth forecasts tailored to investors and stakeholders.
• Payroll - Automated payroll processing covering CPF, IR8A, leave management, and Employment Act compliance.
• Tax Advisory - Guidance on corporate tax, GST registration, and using schemes and incentives to minimize tax liability.
• Fundraising Support - Preparing financials and collaterals to investor-ready standards. Advisory on financial planning and modeling.
• Compliance - Ensure accounting practices adhere to Singapore regulations and standards-reminders on deadlines and requirements.
• Growth Strategy - Data-driven insights for decision-making across funding, financial planning, cost optimization, and business expansion.
  

Sleek prioritizes automation, integrations, and cloud tools for efficient servicing. Custom packages suit different startup stages and needs.

ContactOne Consulting provides integrated accounting, tax, payroll, and advisory services tailored to Singapore's SME segment. Key solutions include:

• Outsourced Accounting - Full bookkeeping services done either on client systems or cloud tools based on preference. Financial statements adhere to SME regulatory standards.
• Tax Compliance - Corporate tax filing, GST registration and returns, advisory on schemes and incentives, liaison with IRAS audits.
• Payroll Management - Salary processing, CPF contributions, IR8A issuance, leave tracking, Employment Act compliance checks.
• Auditing - Detailed audits assessing financial processes, internal controls, data accuracy, and compliance with reporting standards. Identification of process gaps and risks.
• Funding Advisory - Preparing investment collaterals, financial modeling, due diligence support, and introductions to investor networks.
• Growth Strategy - Financial analytics and insights to inform profitable growth opportunities, new market entry, and expansion planning.
• Special Projects - Ad-hoc advisory services tailored to evolving client needs.

ContactOne deploys cloud tools and real-time dashboards for efficient collaboration and servicing. The firm has over 15 years of experience supporting SME accounting needs.

Address: 1 Coleman Street, #10-06 The Adelphi Singapore 179803

Phone +65 6333 0633 

Email: [email protected].

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3E Accounting provides startups and SMEs with integrated accounting, tax, payroll, and advisory services. Solutions include:

• Bookkeeping and Accounting - Transaction processing, account reconciliation, ledgers, and accrual basis financial statements adhering to Singapore accounting standards.
• Tax Compliance - Corporate tax filing, GST registration and returns, tax advisory, and planning for incentives and deductions.
• Payroll - Monthly payroll processing, CPF contributions, IR8A reporting, leave management. Integration with HR systems.
• Fundraising Support - Financial statement preparation, insight reporting, due diligence.
• Compliance Advisory - Guidance on accounting standards, tax codes, corporate law, and data protection regulations.
• Business Insights - Financial analytics on profit drivers, cost control, cash flow, financial planning, and growth opportunities.
• Process Improvement - Assess accounting cycles and processes. Recommend enhancements leveraging technology.
• Special Projects - Custom advisory services for restructuring, expansion planning, financial audits, policies development, and more.

3E Accounting deploys cloud accounting tools for efficient servicing. The team specializes in both startup and SME accounting needs.

Address: 51 Goldhill Plaza #07-10/11 Singapore 308900

Phone: +65 6690 9262
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Koh Management & Accounting Services provides affordable accounting, tax, compliance, and advisory solutions tailored for startups and SMEs. Their core expertise includes:

• Bookkeeping - Timely and accurate, including account payables, account receivables, bank reconciliation, and ledger entries.
• Financial Reporting - Standard financial statements, cash flow reporting, KPI analysis, and board/investor reporting packages.
• Payroll - Salary processing, CPF contributions, leave management, IR21 filings.
• Tax Compliance - Corporate tax filing, GST registration, compliance, liaison with IRAS.
• Compliance - Ensure accounting and reporting adheres to laws and standards. Advisory on legal changes.
• Audit Support - Liaison with auditors during financial reviews and audits. Identify control gaps.
• Budgeting and Forecasting - Detailed financial plans, scenario projections, and cash flow forecasts.
• Financial Insights - Identify issues and opportunities from data analysis to strengthen financial position.

Koh Management stays current on accounting standards and regulations. Services packages are customized and affordable for SME budgets.

Address: 18 Sin Ming Lane, Midview City #07-01 Singapore 573960

Phone: (65) 9863 8665

AG Accounting Group provides integrated bookkeeping, accounting, tax, audit, and advisory services to SMEs in diverse industries. Their solutions include:

• Bookkeeping and Accounting - Transaction processing, accurate ledgers, and financial statements tailored for management reporting and compliance.
• Tax Compliance - Corporate tax filing, GST registration, and filing, identifying available tax incentives and deductions.
• Audit - Internal controls assessment, data and financial analysis against accounting standards, identification of process gaps and risks.
• Funding Advisory - Financial packaging and collaterals, introductions to funding networks of VC firms and PE investors.
• Business Insights - Financial analytics and benchmarking for performance, cost control, budgets, forecasts, growth opportunities.
• Payroll - Salary processing, CPF contributions, leave management, IR8A issuance.
• Compliance Advisory on regulatory changes, data privacy, accounting rules, and corporate law. Recommend policy enhancements.
  

The team has Big Four experience but provides boutique firm service levels: Hands-on, customized advisory approach.

Address: 111 North Bridge Road, #07-11, Singapore 179098

Phone: (65) 9383 2464 

Email: [email protected]

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Timcole provides technology-enabled accounting, corporate secretarial, tax, and advisory services tailored for startups and growth SMEs. Services include:

• Cloud Accounting - Automated data collection, coding, and reconciliation using bank APIs, accounting software, and AI. Real-time consolidated reporting.
• Corporate Secretarial - Business structure advisory, corporate filings and compliance, share issuance and management, company health checks, restructuring.
• Tax Compliance - Corporate tax filing, GST registration, and filing, claiming incentives, liaison for audits and objections.
• Payroll - Integrated payroll processing, IR8A, leave management, auto-submission of returns.
• Funding Advisory - Pitchdeck creation, financial projections, modeling, growth strategy, introductions to investors.
• Analytics - Real-time performance dashboards, financial ratios, trend analysis, and data modeling for forecasts and planning.
• Compliance Reminders - Deadline and process alerts to ensure meeting of reporting requirements.

Packages tailored for different business life cycle stages, including startup, growth, and expansion. The platform automates manual processes for efficiency.

Address: 111 North Bridge Road, Peninsula Plaza #20-04, Singapore 179098

Phone: +65 9852 6881 or +65 6631 9892

Email: [email protected]

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One Stop provides startups and SMEs with affordable accounting, tax, payroll, and advisory services. Their solutions include:

• Bookkeeping and Accounting - Ledger entries, account reconciliation, accurate periodic financial statements for reporting needs.
• Tax Planning and Compliance - Advisory on corporate tax, GST registration, identifying incentives and deductions to minimize liability. Returns filing.
• Payroll Management - Timely salary payments, CPF contributions, IR8A reporting, leave tracking, annual IR21 submission.
• Funding Advisory - Financial packaging for VC/investor presentations. Growth strategy and financial planning.
• Compliance Advisory - Guidance on accounting rules, corporate law changes, data protection regulations, and other compliance needs.
• Special Projects - Tailored advisory services for audits, policy development, expansion planning, feasibility studies, and ad-hoc needs.

The firm deploys cloud technologies for real-time financial data access. Accountants have experience across diverse industries to serve different clients.

Address: 10 Anson Road, #13-09 International Plaza, Singapore 079903

Phone: + (65) 9644 9531

Counto provides easy-to-use online accounting services for startups and SMEs. Solutions include:

• Bookkeeping - Record transactions, generate ledgers, perform account reconciliation, process invoices and expenses.
• Financial Statements - Detailed income statement, balance sheet, cash flow reports, and selected KPIs for management reporting.
• Bank Integration - Auto bank data feeds for seamless transaction capture and coding.
• Tax Filing - Corporate tax returns filing, GST registration, and filing, identifying available tax reliefs.
• Compliance Reminders - Deadline alerts on filings, reports submission, and requirements updates.
• Payroll Processing - Integrated payroll management covering payments, CPF, leave tracking, IR8A, and IR21.

Counto's online platform provides accessibility, automation, and collaboration features anywhere. Affordable packages suit different business needs.

Email: [email protected]

Phone: (+65) 3159 4255 
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VentureHaven provides outsourced accounting, tax, payroll, and advisory services tailored for startups and high-growth SMEs. Their expertise includes:

• Accounting Services - Full bookkeeping, timely financial statements, management reporting, metrics analysis, budgets, and forecast preparation.
• Tax Advisory - Guidance on tax planning, incentives, corporate tax, and GST to minimize liability. Returns filing assistance.
• Payroll Management - Integrated payroll processing, including CPF contributions, IR8A reporting, and Employment Act compliance.
• Fundraising Support - Financial reporting packages, data room preparation, introductions to investors.
• Compliance - Ensure accounting and taxes adhere to standards and regulations-update on new rules.
• Analytics - KPI dashboards, financial ratio analysis, growth benchmarking, projections for planning.
• Growth Strategy - Advisory on business expansion, new market entry, profitability improvements, and cost optimization.
• Special Projects - Ad-hoc advisory on audits, policies development, licenses application, HR needs and more.
  

VentureHaven aims to free up founders' time to focus on growth by handling accounting, payroll, tax, and compliance needs.

Accounting Consultancy provides SMEs and startups with bookkeeping, accounting, taxation, payroll, audit support, and advisory services. Their expertise includes:

• Bookkeeping - Accounts payable/receivable, bank reconciliation, general ledger entries.
• Financial Reporting - Full accounting and financial statements preparation adhering to reporting standards.
• Tax Compliance - Corporate tax filing, GST registration, and returns, identifying incentives to minimize liability.
• Payroll Processing - Timely salary payment, CPF contributions, leave management, IR8A reporting.
• Fundraising Support - Financial reporting for investors, financial analytics, and insights.
• Audit Support - Liaising with auditors and providing required documents and financial data.
• Business Advisory - Financial analysis for budget forecasts, growth planning, cost optimization, and expansion strategy.
• Compliance Updates - Guidance on changes to accounting standards, tax codes, and relevant regulations.
• Special Projects - Feasibility studies, statistical reports, policy development, ad hoc advisory.
  

The team stays updated on the latest regulations and standards. Work is tailored to each client's specific needs.

Address: 60 Paya Lebar Road, #07-06 Paya Lebar Square, Singapore 409051

Phone: + 65 9112 0268

What are the key Considerations for choosing an accounting company in Singapore?

When evaluating accounting firms for their startup or SME, below are important factors to consider:

• Relevant Experience - Seek firms with proven experience handling accounting, tax, payroll, and advisory needs for early-stage businesses specifically. Understand their clientele and focus segments.
• Service Offerings - Assess capabilities across bookkeeping, accounting, taxes, audit support, payroll, compliance, and advisory. Ensure a complete suite to meet evolving needs.
• Qualifications - Prefer firms with accredited accountants like CPAs and CAs. Understand the team's background, credentials, and Big 4 experience, if any.
• Technology - Evaluate accounting software and tools used. Cloud, automation, integrations, and analytics enable efficient servicing.
• Approach - Look for a customized advisory approach based on business stage and needs versus one-size-fits-all.
• Pricing - Opt for transparent flat-fee-based pricing over hidden charges. Monthly plans offer predictability.
• Reviews - Check client reviews and testimonials on responsiveness, timeliness, insights provided, and collegiality.
• Strategic Fit - Assess the firm's alignment to business goals, culture, and need for a strategic partner versus just compliance focus.
• Industry Network - Firms with strong networks offer connections for funding, partnerships, essential services, and entry to new markets.

Closing Thoughts on the Best Accounting Companies in Singapore

Accounting companies in Singapore enables startups and SMEs to access skilled financial expertise, technology, and strategic insights while focusing resources on business growth and optimization. For Singapore companies, partnering with specialist firms that understand the unique needs of high-growth startups and lean SMEs provides significant advantages over solo accounting attempts. When evaluating partners, go beyond surface capabilities and assess experience, strategic approach, networks, and technical competencies catered specifically to businesses like yours. This ensures a service experience that empowers rather than hinders your growth journey.