Outsourced Accounting Services In Singapore

Providing quality bookkeeping and accounting services in Singapore to fulfil your accounting needs
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Do your accounts and bookkeeping comply with statutory accounting requirements in Singapore?

In Singapore, all companies incorporated within the country must have proper maintenance of the company’s bookkeeping and accounting records. If you’re a business owner that is just starting out with a limited budget, hiring an in-house accountant may be the last thing on your mind. 

Why not outsource your accounting to accounts professionals who understand your business inside and out? At Mi2U, our qualified accountants and trained accounts officers keep the entries of your company’s account and bookkeeping records and ensure that they comply with statutory accounting requirements. Worry less when you know your accounting is handled professionally and focus more on your business.

What's the Difference Between Accounting And Bookkeeping?

Although many would link them to be the same thing, accounting and bookkeeping services do have distinct differences in terms of responsibilities. Bookkeeping refers to the process of identifying, measuring, and recording financial transactions on a daily basis and in a consistent manner. Bookkeeping deals with recording payroll, invoicing, inventory updating, and much more which influences the business’s financial decisions. 

Accounting requires analysing and reporting the financial transactions in the general ledger of a business. An accountant is responsible for preparing financial statements and accounting reports, analysing and interpreting the cash flow within a company such as operational costs, taxes and other payments. Similar to bookkeeping, accounting reports also plays a big role in owners making business decisions. Accounting, however, requires more specific skills compared to bookkeeping. Accountants set up the parameters of a business such as outlining the company budget, keep track of the business’s accounts, and even oversee the filing, maintenance and destroying of financial records according to your business needs.

The Benefits of Outsourcing Your Accounting And Bookkeeping

Minimize Costs With Outsourced Accounting

Save your business from being financially burdened with a full-time employee or expensive accounting software. Engaging with an outsourced accounting service lets you receive the same professional services at a lower cost and is especially beneficial for small-medium enterprises (SME) that want to focus on the growth and development of their business. When you outsource accounting to accounting firms, you save up on office space! You no longer need to worry about hiring a whole accounting department in your company.

At Mi2U, our professionally accredited accounting team help keep your company’s accounts in check with compliance with the Singapore Financial Reporting Standards (SFRS). We help you save cost from hiring and training new accounting staff to handle your business accounts and financial statements with our bookkeeping and accounting services. 

The bookkeeping and accounting services we offer include:

  • Monthly, quarterly, half-yearly and yearly of full sets of account services
  • Compilation of unaudited financial statements in XBRL format
  • Issue of sales invoices, purchase orders, debit and credit notes
  • Review staff expenses claims in compliance with the policies of the company
  • GST computation and e-filing of quarterly returns 

 

Receive Professional Accounting and Bookkeeping Expertise

In Singapore, all financial statements must be in XBRL format and must be submitted to the Accounting and Corporate Regulatory Authority (ACRA). If you’re unfamiliar with handling your business’s financial accounts, this can be a nightmare. Rest assured that your business financial statements and reports are in reliable hands of our professional accountants.

Our professional accountants in Mi2U are highly experienced in assisting clients with making sure all their financial records such as bank statements, payroll, and tax return filings are up-to-date, are in compliance with the legal requirements in Singapore and in correct XBRL format before submission deadlines to avoid penalties from ACRA later on. 

 

Resolve Accounting and Bookkeeping Issues More Efficiently

Businesses going through merger and acquisition transitions or when time is extremely limited where the annual auditing is due, it would be a wiser decision to bring in accredited accounting and bookkeeping professionals with experience in resolving accounting and bookkeeping related issues such as clearing backlog accounts, installing accounting software and reconstructing past and current accounting records. 

Mi2U’s accounting team partner up with your company’s existing team of accountants to efficiently organize and resolve any issues that your business may be facing to ensure that your documents are submitted on time prior to facing penalties from ACRA. We help you avoid resubmission of revised financial statements due to non-compliance with Singapore’s Companies Act and accounting standards which can result in unnecessary costs. 

Our bookkeeping and accounting services also help you save time and provides you with the flexibility to focus more on your business operations. You will have more time to prioritize your business goals like improving customer service and marketing campaigns, expanding your products and services and reaching your sales targets. No more worrying about withholding tax filing or management reporting due to time constraints; let us do all the work for you when you outsource accounting to us at Mi2U.

Engage with Mi2U's Bookkeeping and Accounting Services Today

Looking for a trustworthy accounting company that provides high-quality accounting services in Singapore to manage your company’s financial records, employees’ income statement and payroll services from A to Z? Mi2U provides flexible accounting service packages that suit your business’s accounting needs. 

Our team of accounting professionals have helped many companies with filing GST tax return records, compile financial statements in the required XBRL format with compliance to Singapore law and the legal requirements by ACRA and IRAS. Choose from our flexible accounting service packages that best suit your business needs and budget without having to spend extra on complex accounting software and hiring new employees. 

We let our experience speak for the quality of service that we provide our clients – we’ve helped many companies avoid heavy fines and ensure they stay compliant with Singapore’s high accounting standards. If you’re ready to jump on the bandwagon like many have, engage with our staff at Mi2U right now and seek the professional advice that you need!