Bookkeeping Services in Singapore

Our bookkeeping services in Singapore are perfect for startups, small businesses, e-commerce stores, and consulting firms that require accurate and up-to-date financial records. It is designed for founders who want to offload the time-consuming task of daily transaction management and ensure their financial data is clean, reliable, and ready for analysis. Good bookkeeping is the bedrock of a healthy business and a non-negotiable legal requirement.

Under the Singapore Companies Act, every company is required to maintain proper books of accounts from the day it is incorporated. This is not optional. Bookkeeping is the fundamental process that enables the preparation of all other financial and tax documents, including your quarterly GST returns (if applicable), annual Unaudited Financial Statements for ACRA, and your annual corporate tax return for IRAS. It is the first and most critical step in financial compliance.

Professional bookkeeping services in Singapore offer an excellent return on investment by ensuring accuracy and saving valuable founder time. Monthly fees are typically based on the volume of transactions your business conducts:

• **Startups / Low Transaction Volume:** S$200 – S$400 per month.
• **Growing Businesses / E-commerce Stores:** S$400 – S$800 per month.
• **Higher Volume or Complex Businesses:** S$800+ per month.

These costs are significantly lower than hiring a part-time or full-time bookkeeper, with no associated CPF contributions or employee overheads.

Neglecting bookkeeping or performing it incorrectly creates a cascade of problems that can severely impact your business:

• **Inaccurate Tax Filings:** "Garbage in, garbage out." Poorly kept books lead directly to incorrect GST and corporate tax returns, which can trigger audits and heavy penalties from IRAS.
• **Failed Audits & ACRA Penalties:** Your annual financial statements are based on your bookkeeping records. If they are inaccurate, you cannot fulfill your filing obligations with ACRA, leading to fines.
• **Cash Flow Blindness:** Without a clear, up-to-date view of your income, expenses, and bank balances, you cannot effectively manage your cash flow—the lifeblood of any small business.
• **Increased Year-End Accounting Fees:** If your books are a mess, your accountant will have to spend significant time cleaning them up before they can prepare your annual accounts, resulting in much higher professional fees.

Outsourcing your bookkeeping to YourLegal is the most efficient way to manage your company's financial records. Our professional team uses modern, cloud-based software like Xero or QuickBooks to automate transaction entry and provide you with a real-time view of your finances. We ensure all your income and expenses are categorized correctly according to Singaporean accounting standards.

This guarantees that your data is always clean, reconciled, and ready for your accountant to prepare your year-end financial statements and tax returns. By letting us handle the administrative burden of daily bookkeeping, you not only save countless hours but also gain the financial clarity needed to make smart, data-driven decisions for your business. It is the essential foundation for our comprehensive accounting service.