Are you ready to tackle your taxes confidently in 202? As the fiscal year draws to a close, the importance of precise and effective accounting services cannot be overstated. Whether you're a business owner seeking to improve your financial systems or an individual navigating personal taxation complexities, securing suitable accounting services can make a significant difference. In the bustling economic landscape of Singapore, numerous accounting agencies offer their expertise to guide you through the intricate terrain of taxes.
In this comprehensive guide, we'll present the top 8 accounting services in Singapore that are ready to help you achieve your financial objectives and ensure seamless tax management. From expert guidance to meticulous record-keeping, these firms have established themselves as reliable partners in financial management. Let's explore the realm of premier accounting services available in Singapore, paving the way for a successful and worry-free financial year ahead.
Key Consideration Factors
At Steriluxe, we understand the importance of providing our readers with accurate and reliable information. That’s why we take our selection process seriously when it comes to identifying the best companies in a particular field. One of the key considerations we take into account when creating our list is Google and Facebook ratings. By evaluating the feedback from real customers, we can ensure that our readers have access to trustworthy and unbiased reviews. These ratings give us insight into the overall satisfaction of a company’s customers, as well as the quality of their services.
Best Accounting Services in Singapore
Harvest Accounting
Introducing Harvest Accounting, the ultimate growth companion for small businesses! Embracing a fully digital and paperless approach, they've revolutionized data collection, making it effortlessly streamlined. With a keen focus on Key Performance Indicators (KPIs), they ensure your business stays firmly on the trajectory towards success. But here's the real kicker - they offer a unique service dubbed "Rescue Services" tailored for companies grappling with accounting mishaps, providing expert assistance to rectify any discrepancies and get things back on track in no time!
>>Company details
| Address | Harvest Accounting Pte. Ltd. 14 Robinson Road #08-01A Singapore 048545 |
| Contact | 65 8860 9408 |
| Operating hours | Open 24/7 |
>>What we like about it
- Growth partner for small businesses
- Seamless data collection
- Paperless and digital services
>>Testimonial
I found Harvest Accounting when I was looking for expert help for my tax filing needs. I spoke to Bryan and Jacintha shortly after that and since then, the finance side of the business has been extremely easy and straightforward. The Harvest Accounting team has been very helpful, whenever I have questions, they were always quick to answer and address them. Thank you Harvest Accounting for making the finance side of my business so easy! -Jiawen (Google review)
Win Global Solutions
For those embarking on a new business venture and seeking a robust accounting strategy, Win Global Solutions is your go-to destination! With over 25 years of seasoned expertise, they stand as one of Singapore's premier accounting service providers. Offering tailored accounting solutions including meticulous record-keeping and comprehensive tax consultancy, they pride themselves on customizing every aspect to align perfectly with your distinct requirements. Look no further for unparalleled support in laying the financial groundwork for your venture's success!
>>Company details
| Address | 31 BUKIT BATOK CRESCENT #01-22 |
| Contact | 65 9177 9846 |
| Operating hours | Monday to Saturday 8:00am – 6:00pm |
>>What we like about it
- Comprehensive tax consultancy
- Tailored services for clients
- Experience in multiple disciplines
>>Testimonial
Professional and Trusting. Recommend business friends to visit them . Help my company save a lot of money which I can spent on other places. Thanks -Lee Cheng Lim (Google review)
Counto
Meet Counto, currently one of the most sought-after accounting firms in Singapore. Their focus? Efficiency and cost-effectiveness. Leveraging their own IRAS-approved tax software, they're masters at streamlining processes. Powered by cutting-edge AI technology, they effortlessly tackle accounting tasks, spanning from bookkeeping to sophisticated data analytics and seamless payment solutions. Experience the future of accounting with Counto - where efficiency meets innovation!
>>Company details
| Address | 100 Amoy St Singapore, Singapore 069920 |
| Contact | 65 3159 4255 |
| Operating hours | Open 24/7 |
>>What we like about it
- Expertise in data analytics
- Efficient tax filing solutions
- Quick and secure payment options
>>Testimonial
Counto offers a powerful suite of services that any business owner will find useful. I use their CFO service to handle my accounting, taxes, payroll and finance backend. The best part is that I have a dedicated Slack channel. Anytime I need help I’m able to chat with the team, and that makes life so much easier for me! -Justin (Google review)
Sleek
Sleek is the real deal when it comes to accounting services. They’re so confident in their abilities that they offer a 30-day money-back guarantee for clients who aren’t totally satisfied. From solo entrepreneurs to SMEs, they’ve got you covered. You can even register your trademarks and real estate assets with them! Plus, their pricing guide is transparent and affordable – a total win-win!
>>Company details
| Address | 160 Robinson Rd, #06-01 SBF Center, Singapore 068914 |
| Contact | 65 6929 8273 |
| Operating hours | Monday to Friday 9:00am – 6:00pm |
>>What we like about it
- Comprehensive business solutions
- Reliable accounting services
- Dedicated and customer-focused
>>Testimonial
Sleek is a company that has impressed me beyond measure! From the moment I engaged with their account management team, I knew I was in for a remarkable experience. The level of friendliness and accommodation they displayed was unparalleled. -Varun (Google review)
Margin Wheelers
You know what’s awesome about Margin Wheelers? They’re all about helping small businesses in Singapore with top-notch services at affordable prices. Whether you need to incorporate your company or get some accounting consultancy, they’ve got your back! Their crew is full of qualified experts from various sectors, so they totally get what you need and respond to all your requirements like pros!
>>Company details
| Address | 21 Bukit Batok Crescent #15-75, WCEGA Tower Singapore 658065 |
| Contact | 65 6272 0820 |
| Operating hours | Monday to Friday 9:00am – 6:00pm |
>>What we like about it
- Top-notch services for small businesses
- Affordable prices in Singapore
- Expert multi-disciplinary crew
>>Testimonial
We were attended by Ms Eileen who is super professional and fast. Hassle free dealings with Margin Wheeler, one which I would strongly recommend. -Sundip (Google review)
Timcole
So, Timcole has got everything a company could ever need – accounting, tax filing, secretarial services, and even immigration processing. They’re like the ultimate one-stop shop for business solutions! And you know what? We talked to some clients, and they swear by Timcole’s amazing promise of fulfillment. They offer comprehensive packages and bundle-up services like company incorporation, secretarial stuff, and bookkeeping, all at one fair price.
>>Company details
| Address | 111 North Bridge Road, Peninsula Plaza #20-04, Singapore 179098 |
| Contact |
65 6631 9892 65 9852 6881 |
| Operating hours | Monday to Friday 9:00am – 6:00pm |
>>What we like about it
- All-in-one business solution
- Extensive range of services
- One-stop shop for accounting needs
>>Testimonial
I approached Timcole for the LOC from MOM and spoke to Kylle. The whole team is fantastic in assisting you from the day 1. Prema and Dawn assist by approaching personally to get the work done and available as and when required at such a short notice. Will definitely reach out to Tilmcole again with further work. Thank You. -Twinkle (Google review)
Aura Partner (Singapore) Pte Ltd
Aura Partners is the go-to accounting firm in Singapore, and they’ve earned that reputation with their years of expertise from top 4 international accounting firms. They specialize in serving local and foreign small to medium businesses, expatriates, investors, and executives. With a dedicated staff who really listens to your needs, they’ll tailor solutions to boost your company’s potential for future success!
>>Company details
| Address | 1 Phillip St, #09‑00 Singapore 048692 |
| Contact | 65 6221 1768 |
| Operating hours | Monday to Friday 9:00am – 6:00pm |
>>What we like about it
- Experienced and devoted staff
- Emphasis on business growth
- Customer-centric approach
>>Testimonial
Vanny’s knowledge and advice were invaluable, and from that 15-minute call, I knew they had to be our accountants as they genuinely care about the business; after all, we are all here to make money! -Steve (Google review)
Reliance Consulting
You won’t find a more trusted accounting firm than Reliance Consulting. They’ve been rocking the accounting game for over a decade, serving clients not only in Singapore but also overseas. Talk about expertise! They offer a wide range of services from traditional accounting to payroll, taxation consultation, and company registration. No matter the sector, they’ve got it all covered – especially for small businesses!
>>Company details
| Address | 65 Chulia Street, Level 46 OCBC Centre, Singapore 049513 |
| Contact | 65 6670 6820 |
| Operating hours | Monday to Friday 9:00am – 6:00pm |
>>What we like about it
- Efficient company registration services
- Strong presence in various sectors
- Precise orientation for small businesses
>>Testimonial
Overall their services are friendly, efficient and good value. -Joseph (Google review)
Bookkeeping vs. Accounting Services
Bookkeeping and accounting are two closely related but distinct functions within the field of finance and business management. They both involve managing financial records and data, but they serve different purposes and have different levels of complexity.
Bookkeeping: Bookkeeping is the process of recording and organizing financial transactions of a business or individual. It involves tasks such as:
- Recording daily financial transactions, including sales, purchases, expenses, and payments, into ledgers or accounting software.
- Creating and maintaining journals, ledgers, and financial statements (such as income statements and balance sheets).
- Reconciling bank statements and other financial documents.
- Tracking accounts payable (money owed by the business) and accounts receivable (money owed to the business).
- Managing payroll and employee-related transactions.
Bookkeeping is primarily focused on the accurate and systematic recording of financial data. Bookkeepers ensure that financial records are up to date and organized, providing a solid foundation for further financial analysis and decision-making.
Accounting: Accounting is a broader and more analytical process that builds upon the foundation of bookkeeping. It involves interpreting and analyzing financial data to provide insights into the financial health and performance of a business. Accounting tasks include:
- Classifying and categorizing financial transactions into meaningful accounts (such as revenue, expenses, assets, liabilities, and equity).
- Preparing and analyzing financial statements, such as income statements, balance sheets, and cash flow statements.
- Applying accounting principles and standards to ensure accurate reporting and compliance with regulations.
- Generating financial reports for internal and external stakeholders, such as management, investors, and regulatory agencies.
- Performing financial analysis to assess profitability, liquidity, solvency, and other key financial metrics.
- Providing financial advice and recommendations to support business decisions and strategies.
In essence, while bookkeeping focuses on the day-to-day recording of financial transactions, accounting takes a more comprehensive approach by interpreting and analyzing the recorded data to provide meaningful insights for decision-making and financial management.
Small businesses often handle bookkeeping tasks internally or through outsourced bookkeeping services, while accounting services might involve more complex financial analysis and strategic guidance, often provided by certified public accountants (CPAs) or professional accounting firms. Both bookkeeping and accounting play essential roles in maintaining accurate financial records and facilitating effective financial management for businesses of all sizes.
Frequently Asked Questions
Why do businesses need accounting services?
Businesses need accounting services to ensure accurate financial records, meet regulatory requirements, make informed business decisions, manage taxes efficiently, and maintain financial transparency.
How can accounting services benefit my business?
Accounting services can provide timely and accurate financial information, help optimize tax strategies, improve financial planning, reduce risks of errors and fraud, and allow business owners to focus on core operations.
What is bookkeeping, and why is it important?
Bookkeeping involves recording financial transactions, such as expenses, sales, and purchases. It’s crucial for maintaining an organized financial record that helps businesses track income and expenses, make budgets, and prepare for tax filings.
What is financial statement preparation?
Financial statement preparation involves creating statements like the balance sheet, income statement, and cash flow statement, which provide a comprehensive view of a company’s financial performance.
What should I consider when outsourcing accounting services?
Consider factors such as the firm’s experience, reputation, range of services, technology used, data security measures, and cost when outsourcing accounting services.
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