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Professional Accounting Services in Singapore
Accounting Services in Singapore — Bookkeeping, Financial Statements & GST Compliance for SMEs
Every Singapore Private Limited Company must prepare SFRS-compliant financial statements, file an Annual Return with ACRA within 7 months of financial year-end, and submit corporate tax returns to IRAS by 30 November annually. If you are weighing the costs of an in-house hire against a monthly retainer, our outsourced vs in-house accounting comparison breaks down the real numbers — CPF, bonuses, recruitment, and the hidden costs most owners don't see until year two.
S$200–S$400 for low transaction volume. Full-service: S$500–S$1,200.
Annual Return: within 7 months of FYE. Corporate Tax: 30 November.
Meet 2 of 3: revenue ≤ S$10M, assets ≤ S$10M, employees ≤ 50.
Key Takeaways
- Outsourcing saves 40-50% vs in-house — No CPF, bonuses, or recruitment costs. Pay only for what you need.
- YA 2026 enhanced tax benefits — 50% CIT rebate (cap S$40,000) + S$2,000 cash grant for companies with local employees.
- Three regulatory bodies — ACRA (annual returns), IRAS (tax), ASC (SFRS standards). Your accounting must satisfy all three.
- Deadlines are fixed — Late penalties: S$300–S$600 for ACRA, plus IRAS penalties for late tax filing.
Fast Facts
Most Singapore companies do not have a problem understanding that they need accounting — they have a problem finding a firm that actually keeps up with them. Books fall behind. Emails go unanswered for days. Year-end becomes a scramble. Terra Advisory Services exists to make that a problem of the past.
We handle bookkeeping, management accounts, SFRS-compliant financial statements, GST filing and compliance, and year-end reporting — from freshly incorporated startups to established local businesses to foreign-owned SMEs. If you need corporate secretarial alongside accounting, we handle that too — one firm, one point of contact.
Who Terra Advisory Services' Accounting Is For
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Newly incorporated companies
You have just received your Certificate of Incorporation and need to set up your books correctly from day one. Getting the chart of accounts, financial year-end, and GST position right at the start saves significant cost later. See what accounting requirements apply in your first year.
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Businesses switching accountants
Your current firm is slow to respond or your books are months behind. Switching is easier than most think. We handle the migration, clear the backlog, and get your accounts current. For a transparent look at what drives costs, see our accounting services cost guide.
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Foreign-owned SMEs
Your company is Singapore-registered but directors or shareholders are based overseas. You need a team that communicates clearly in English and understands cross-border structures. Terra Advisory Services works with 100% foreign-owned companies routinely. Many also qualify for the 50% YA 2026 CIT rebate (capped at S$40,000) and S$2,000 cash grant.
What Terra Advisory Services' Accounting Covers
Monthly Bookkeeping
All transactions recorded, categorised, and reconciled monthly. You always know where your accounts stand.
Management Accounts
Monthly or quarterly P&L, balance sheet, and cash flow summary in plain language for directors and banks.
Financial Statement Compilation
SFRS-compliant year-end financial statements required for ACRA annual return filing.
GST Filing & Compliance
Quarterly GST returns prepared and filed with IRAS. Complete GST compliance guide →
Payroll Processing
Monthly payroll, CPF contributions, payslips, and IR8A preparation. Critical for Employment Pass sponsors.
Accounts Receivable & Payable
Invoice tracking, debtor ageing, vendor payment scheduling. For invoicing compliance, see InvoiceNow compliance deadlines.
Already Have an Accountant? Here Is How Switching Works
Most business owners stay with a firm that is not working for them because they assume switching is complicated. It is not.
The whole process typically takes two to four weeks from first conversation to fully operational.
Why Clients Choose Terra Advisory Services for Accounting
Terra Advisory Services has been handling Singapore company accounting, compliance, and immigration for over 14 years. We are not a volume processing firm — we work directly with clients and treat each business as its own situation.
Responsive communication
Questions answered within one business day. You have a named contact — not a ticket queue.
Transparent pricing
Written scope and fee before any work starts. No year-end surprise invoices.
SFRS and IRAS expertise
Financial statements prepared correctly the first time — no amendments, no penalties.
One firm for accounting and compliance
Accounting, corporate secretarial, and annual ACRA compliance under one roof.
Experience with foreign-owned companies
Directors and shareholders based overseas are part of our standard client profile.
Integrated immigration support
Payroll records and financial statements that affect EP renewals and bank assessments.
What Singapore Law Requires — and What Good Accounting Prevents
Every Singapore Private Limited Company must prepare financial statements in accordance with SFRS. Under the Companies Act, accounts must be prepared within 5 months of the financial year-end and filed with ACRA as part of the Annual Return. ECI must be filed with IRAS within 3 months of FYE, and the corporate income tax return by 30 November each year.
Good accounting prevents the scramble. Companies that update their books monthly have no year-end rush. Directors who receive quarterly management accounts can spot cash flow issues before they become banking problems. Accurate payroll records mean Employment Pass renewals proceed without complication.
Frequently Asked Questions
Keep your books on track — from day one or from right now.
New company, established business, or switching from a firm that is not working. Terra Advisory Services handles Singapore accounting, compliance, and secretarial — one team across everything.
Incorporating or restructuring a business in Singapore is a major legal and financial decision. We provide dedicated, personal service from our first conversation to your ongoing annual filings.
If you do not fully understand any aspect of the process, we will pause and will not move forward until you are ready.
We quote and design only the specific services your business actually requires.
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