What Are Outsourced Accounting Services?

Outsourced accounting services provide businesses with an external team of accounting professionals to handle their financial recordkeeping, reporting, and compliance needs. By outsourcing accounting functions, companies can access specialized expertise without the overhead costs of maintaining an in-house accounting department. This approach allows businesses to focus on their core operations while ensuring accurate and timely financial management.

Group of business people working with laptop at meeting

What is Covered in Our Accounting Services

Our Different Types of Accounting Packages

SG Biz Works provides four different accounting packages depending on how the company runs its business, the number of manpower, and the company’s experience in finance. We have helped several companies by offering them affordable outsourced bookkeeping, tax and accounting services; so that they can focus their time on what they do best.

Financial Statement and Tax Package From $650

Recommended for Entrepreneurs who have completed general bookkeeping during the financial year

This package includes:

1. Compilation of Financial Statements

2. Corporate Tax Submission including
 

  • Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
  • Preparation of Main Tax Computation
  • Preparation of Additional Tax Schedules required
  • Tax Filing of simplified Form C-S to IRAS (Fee subject to changes for Form C filing)

Best Recommended for

  • Companies that have in-house bookkeepers who maintained the company accounts regularly in an accounting system. All you need to provide to us are your balance sheet, profit and loss and general ledger records for a start. We will review your accounts and should there be a need to gather more information, we will let you know what else we need to complete your financial statements and tax filing.
  • Companies with light volume of transactions that are recorded in non-accounting software like Microsoft Excel. Let us review the records and assess if information captured is sufficient to carry out the compiling and tax work. In some instances, we can help you make right your records for an additional fee.
All-in-One Financial Statement + Tax + AGM Package From $790

Recommended for Entrepreneurs who have their own bookkeeping in place and would like to cover both IRAS and ACRA obligations

This package includes:
 
1. Compilation of Financial Statements
2. Corporate Tax Submission including
 
  • Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
  • Preparation of Main Tax Computation
  • Preparation of Additional Tax Schedules required
  • Tax Filing of Form C-S to IRAS (Fee subject to changes for Form C filing)
3. Company Secretarial Support
  • Provision of named company secretary for the Company
  • Preparation of Standard AGM documents
  • Submission of Annual Return to ACRA
  • E-Reminder Service to remind Company of deadlines
Best Recommended for
  • Companies looking for total fulfilment of standard statutory obligations towards IRAS and ACRA.
  • Companies that have in-house bookkeepers who maintained the company accounts regularly in an accounting system. All you need to provide to us are your balance sheet, profit and loss and general ledger records for a start. We will review your accounts and should there be a need to gather more information, we will let you know what else we need to complete your financial statements and tax filing.
  • Companies with light volume of transactions that are recorded in non-accounting software like Microsoft Excel. Let us review the records and assess if information captured is sufficient to carry out the compiling and tax work. In some instances, we can help you make right your records for an additional fee.
Full Fledged Accounting and Secretarial Package with Payroll From $1500

Recommended for Entrepreneurs with no in-house accountants, and First Time Entrepreneurs with no accounting, tax & payroll experience

This package includes:
1. Bookkeeping Service (inclusive of GST reporting for GST registered companies)
2. Payroll Service
3. Compilation of Financial Statements
4. Corporate Tax Submission including
  • Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
  • Preparation of Main Tax Computation
  • Preparation of Additional Tax Schedules required
    Tax Filing of Form C-S or Form C to IRAS

5. Company Secretarial Support

  • Provision of named company secretary for the Company
  • Preparation of Standard AGM documents
  • Submission of Annual Return to ACRA
  • E-Reminder Service to remind Company of deadlines
 
Best Recommended for
  • Companies looking for total fulfilment of standard statutory obligations towards IRAS and ACRA.
  • Companies that do not have in-house accountants to manage their accounts.
  • Business Owners who are not familiar with bookkeeping and tax matters.
Full Fledged Accounting and Secretarial Package From $1800

Recommended for Entrepreneurs with no in-house accountants, and First Time Entrepreneurs with no accounting and tax experience

This package includes:

1. Bookkeeping Service (inclusive of GST reporting for GST registered companies)
2. Compilation of Financial Statements
  • Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
  • Preparation of Main Tax Computation
  • Preparation of Additional Tax Schedules required
  • Tax Filing of Form C-S or Form C to IRAS
3. Corporate Tax Submission including
 
  • Estimated Chargeable Income (“ECI”) filing within 3 months from your accounting year end
  • Preparation of Main Tax Computation
  • Preparation of Additional Tax Schedules required
  • Tax Filing of Form C-S or Form C to IRAS

4. Company Secretarial Support

  • Provision of named company secretary for the Company
  • Preparation of Standard AGM documents
  • Submission of Annual Return to ACRA
  • E-Reminder Service to remind Company of deadlines
 
Best Recommended for
  • Companies looking for total fulfilment of standard statutory obligations towards IRAS and ACRA.
  • Companies that do not have in-house accountants to manage their accounts.
  • Business Owners who are not familiar with bookkeeping and tax matters.

Why You Should Hire Our Outsourced SME Accounting Services

Expertise and Efficiency

Our team of certified accountants brings expertise and efficiency tailored for small and medium enterprises (SMEs), ensuring accurate financial records and timely reporting that cater to the unique needs of growing businesses.

Cost Savings with Outsourced Accounting Services

By outsourcing accounting services in Singapore, SMEs can eliminate the need for an in-house accounting team, reducing operational costs and maximizing their resources.

Scalable Bookkeeping and Accounting Services for Small Businesses

Our services can easily scale up or down based on your SME’s changing needs, providing flexibility and cost-effective bookkeeping and accounting solutions as your business grows.

Compliance and Risk Mitigation for SME Accounting

Stay compliant with accounting standards and regulations specific to SMEs in Singapore, minimizing risks, penalties, and ensuring your small or medium enterprise operates within legal boundaries.

How Does Our Services Work?

1. Initial Consultation

We start by understanding your business, goals, and specific accounting needs.

2. Customized Solution

Our experts tailor an accounting solution that aligns with your requirements.

3. Data Collection

We securely collect and organize your financial data and documents.

4. Accounting Processing

Our team performs bookkeeping, financial reporting, tax preparation, and other accounting tasks.

5. Review and Reporting

We review the work, ensure accuracy, and provide you with clear financial reports and insights.

6. Ongoing Support

We offer continuous support, addressing any queries or changes in your accounting needs.

FAQs

Is it cheaper to outsource accounting in Singapore?

Yes, outsourcing accounting services is generally more cost-effective than maintaining an in-house team, especially for SMEs in Singapore, as it eliminates overhead costs and provides access to expertise on an as-needed basis.

When should you outsource accounting?

Outsourcing accounting is beneficial when businesses lack internal resources or expertise, experience rapid growth, or undergo transitions like expansion or ownership changes. SMEs with limited accounting staff can particularly benefit from outsourcing.

What are the benefits of accounting outsourcing services?

Outsourcing accounting services offers numerous benefits for businesses in Singapore, including cost savings, access to expertise, scalability, improved efficiency, compliance assurance, and timely financial insights to support informed decision-making. By outsourcing, SMEs can benefit from cost-effective, professional accounting support tailored to their specific needs.

Company Registration Value Package
S$ 758

 Recommended For The Budget Conscious

Get Started

Get A Quote