Bookkeeping and Accounting Services in Singapore
Unlock your business’s potential with expert accounting and bookkeeping services in Singapore. From navigating complex tax regulations to seamless payroll management, we are your trusted financial partners for success. With in-depth financial reporting, GST compliance, and transformative financial solutions, we turn numbers into valuable opportunities. Our services combine precision and innovation, ensuring a smooth financial journey for your business in Singapore.
Our Comprehensive Singapore Bookkeeping and Accounting Services:
- Accounting Services
- Goods and Services Tax (GST) Submission
- Auditor’s and Director’s Report Preparation
- Financial Statements in XBRL (Extensible Business Reporting Language)
- Singapore Payroll Services
- Payroll and Expense Claim Management
Accounting Services
All businesses in Singapore must maintain accurate financial records, which include the Profit and Loss Account, Balance Sheet, Cash Flow Statement, and Equity Statement, all compliant with the Singapore Financial Reporting Standards (SFRS). Our team ensures that your accounts are updated regularly, providing an accurate representation of your company’s financial position. We also offer auditing services to verify your financial records.
GST Submission
GST is a consumption tax imposed on most goods and services in Singapore. Businesses with taxable supplies exceeding S$1 million in a 12-month period are required to register for GST with IRAS and submit quarterly returns. We help you navigate the GST process and ensure that any GST paid can be claimed from the IRAS. Businesses may also voluntarily register for GST.
Auditor’s and Director’s Report Services
All Singaporean companies are obligated to submit an Independent Auditor’s Report and a Director’s Report as part of their annual filing. Only companies with an annual turnover exceeding S$10 million, more than 20 shareholders, or at least one corporate shareholder need to undergo an audit. These reports help ensure financial transparency and foster investor confidence.
XBRL Financial Statements
Since December 2, 2013, nearly all companies in Singapore are required to file their financial statements in XBRL format via the BizFinx system. XBRL (Extensible Business Reporting Language) streamlines financial data analysis and enhances the accuracy, transparency, and timeliness of financial reporting in the business community.
Singapore Payroll Service
Singapore companies must ensure timely salary payments to employees and accurate submissions of deductions (e.g., CPF) to the CPF Board. Payroll processing involves calculating basic wages, overtime, bonuses, and various statutory contributions, including Skills Development Levy and withholding taxes. Our services simplify and manage this process for you.
Payroll and Expense Claim Management
In addition to payroll, businesses must also handle employee expense and travel claims, a process prone to inefficiencies due to manual handling. Our Payroll and Expense Claim Management Software helps streamline this process by tracking claims and reducing errors, ensuring maximum efficiency with minimal administration.
Why Choose WLP for Accounting and Bookkeeping in Singapore?
WLP offers premier company incorporation services in Singapore, supported by seasoned experts who specialize in assisting corporate clients. Contact us today and our business consultants work closely with you to understand your unique needs, providing valuable guidance throughout the incorporation process. With a wealth of experience, we ensure that your business operations are handled with the utmost professionalism and expertise.