Accounting Services
Our team specializes in maintaining precise and organized accounting records, providing you with comprehensive insights into your company’s financial standing, thereby empowering you to make informed decisions.
Compliance with regulatory requirements
In accordance with Singapore regulatory mandates, every registered company is obligated to submit financial statements, including accurate accounting records. The Singapore Financial Reporting Standards stipulate that companies must prepare financial statements adhering to these standards to ensure the accuracy and reliability of their accounting records.
Our service offerings
Groundwork offers the expertise of chartered accountants well-versed in accounting principles. We guarantee the accuracy and transparency of your financial information, underpinned by factual data and records, while ensuring strict adherence to regulatory requirements. Our commitment is to provide dependable financial insights into your company’s financial position, performance, and profitability.
Our services encompass a comprehensive suite, including bookkeeping, tax planning, financial reporting, payroll management, and business advisory services.
By outsourcing your accounting functions to us, you gain the freedom to allocate more time and resources to your core business operations, ultimately enhancing productivity and profitability. We efficiently manage daily accounting tasks with the utmost professionalism, guaranteeing the reliability of your company’s financial statements and affording you the confidence to make well-informed strategic decisions.
How do we assist you?
We assist companies in compiling their day-to-day transactions and finalizing financial records, following a structured protocol that encompasses the financial closing process. This process entails the following steps:
Please provide us with soft copies of invoices, receipts, monthly bank statements, or arrange for originals organized by month. Alternatively, we can collect these documents on-site.
We will diligently sort and match receipts, tax invoices, and supporting documents to monthly bank statements.
Subsequently, we will input journal entries into the accounting software.
Following this, we conduct a series of financial checks, including the trial balance, balance sheet, profit and loss statement, and other pertinent schedules.
To ensure the completeness and adherence to Singapore Financial Reporting Standards, we implement a dual-level review process. After conducting an internal review, we provide you with the management report package for your review and approval. Upon receiving your approval, our team proceeds to draft financial statements.
Additional accounting services:
We further assist companies by generating cash flow analyses, enabling business owners to comprehend their daily cash flow patterns and formulate long-term goals and strategies.
Fee structure for accounting services
Groundwork offers the following one-time fees:
Dormant Company: SGD 200
Semi-Dormant: SGD 350 onwards
Active Company: SGD 500 onwards
Group Company: SGD 1000 onwards
The ultimate fee is contingent upon the complexity and volume of the company’s transactions and management accounts, as discussed and mutually agreed upon.
For any inquiries or to obtain additional information about our accounting services, please use the contact form, and we will promptly reach out to you.