Accounting Services Singapore

"Accounting is the Language of Business"

~ Warren Buffet ~

Our Accounting Compliance Packages make planning easy for you.

If you prefer to use other Accounting tools like MYOB/Quickbooks, we are totally cool with using them too. Although we highly recommend Xero for your base accounting due to its SIMPLICTY to use even for Non-Accountants and its GREAT SUPPORT! Here is a Short Video link for you to have a clearer picture why it is so user friendly even for users with non-accountant background.

Feel free to call us to ask any questions if you have any doubts, we can even arrange a no-obligation meeting to better understand your needs to help you to get on the right track!

We offer All-in-one Accounting Compliance Packages as Below:

(The only difference with our Outsourced Bookkeeping Package is that we will handle all the Bookkeeping functions from Entering of Sales & Purchases invoices, Bank Reconciliation to passing of Manual Journal. Whilst for Accounting Compliance Package, you will enter the Sales & Customers receipts yourself via Xero, hence Lower Monthly Accounting fee )


price per month

Ideal For

Monthly bank transactions

Xero Services

Xero Monthly Subscription Fee (S$50 per month)

Monthly Accounting/Bookeeping (We will email the Management Report to you every month or grant your the access right to Xero )


Annual Compilation/

Unaudited report

Income Tax

(1. Annual tax computation with Supporting schedules & Form C-S / Form C

2. Estimated Chargeable

Income )


Lite

Package

$100


Startup/New businesses

Not more than 30 line items in monthly bank statements


1. Xero account set up

2. Xero support for 6 months via Email/phone support

3. Xero training @ our office (Maximum 2 hours for not more than 5 pax)

4. Additional hour of training is charegable @ S$250 per hour

5. Additional S$80 applies for onsite training at client's office

1. Sales and customers receipts entered by you.

2. Purchases and expenses claims entered by you.

3. We will do bank reconciliation and pass any journal entries to adjust the accounts.

4. We will do checking of your monthly accounts to ensure they are in order and posted correctly.




Startup

Package

$200


New or small businesses, needing compliance only 

 Not more than 60 line items in monthly bank statements



Include Xero Services in Lite Package

1. Include everything in Lite Package.

2. We will do a Annual 5-Page KPI analysis for your business performance.

Best Value!

Growth 

Package

$300


Emerging business, need additional financial insights 

 Not more than 100 line items in monthly bank statements


Include Xero Services in Lite Package

1. Include everything in Lite Package.

2. We will do a Bi-Annually 5-Page KPI analysis for your business performance.

Let's talk

Need Customised package?

Talk to us if you need a customised package, we'r always happy to help!

Talk to us

Talk to us


Talk to us

How

We Work?

The Work we'll do

 XERO SETUP & TRAINING

Xero is the World’s Easiest Accounting System. Here is a Short Video link for you to have a clearer picture why it is so user friendly even for users with non-accountant background:

https://tv.xero.com/detail/videos/featured/video/5127826756001/intro-to-xero:-small-business-accounting-software

If you’re not already using it, here’s how we can help you get setup (The Xero monthly subscription fee of USD30-40 is included in our monthly service package):

  • Initial setup, including Year End Date, GST Quarters, User Settings, Chart of Accounts.
  • Enter conversion balances, debtor & creditor invoices, customers & suppliers.
  • Configure up to 2 bank accounts, including setting up bank feeds.
  • Setup of invoicing options, including creating your invoice template.
  • Xero support for 6 months via Email/Skype/Phone Support
  • Xero Training @ our office (Maximum 2 hours for not more than 5 pax)
  • Additional hour of training is chargeable @ S$250 per hour
  • Additional S$60 fee applies for onsite training at client's office

BOOKKEEPING ON XERO

We can take away the hassle of your accounts completely by completing your bookkeeping for you:

  • Bookkeeping completed Monthly/Quarterly/Yearly (Depending on which Frequency you choose), including providing  Monthly/Quarterly/Yearly Management Accounts.
  • Xero bank feeds working for 2 bank accounts.
  • Sales invoicing done in Xero by you (we’d reconcile these with your bank)
  • Purchase invoices forwarded electronically/in hard copies and done by you (we’d reconcile these with your bank)
  •  We’d file your GST return each quarter & Annual Return each year.

INITIAL MEETING WITH YOUR ACCOUNTANT

Your first meeting will ensure that you are as tax- efficient as possible and that you get into good habits with your accounts and record keeping to save you getting into trouble with the Taxman! We’ll review the following with you:

  •  Is the business setup in the most tax-efficient way and what changes can be made to improve things?
  • Records you should keep on an ongoing basis and the best ways of doing so to ensure that you are always fully compliant.
  • Best practice when it comes to ensuring your business is as tax-efficient as possible day-to-day, e.g. rules associated with expenditure, mileage, personal remuneration, dividends, etc.
  •  What needs to be done and when it needs to be done by–you’ll never miss a deadline with OS1.

ANNUAL ACCOUNTS WORK

We will complete the following for you each year:

  •   Annual Unaudited Report for Annual Return submission to ACRA and Corporate Tax Return submission to IRAS

PAYROLL

  •  E-submission of CPF (if applicable)
  • Issuance of payslips
  • Processing monthly payrun
  • Maintenance of a monthly payroll record
  • Preparation of IR8A form once a year
  • Giro payment of salary (If Applicable)
  • Maintenance of leave records (If Applicable)

3 easy steps to engagement:

When you're ready to proceed we invite you to follow the below 3 easy steps. We will then work with you to gain access to your accounting files from your previous accountant if any. It will be seamless. 

 

1. Choose your package 
- Choose the suitable package for your business or investment that suits your core compliance and advice needs. 

 

2. Customize your package 
- If you do not wish to use Xero to meet your bookkeeping needs especially on Sales invoicing / Purchases billing although we strongly recommend you to to use due to its ease of usage and real-time data; and if you don't fit our plans. We are flexible enough to customize special packages for you to suit your needs. 

 

3. Click "Call Us"
- We will clarify your requirements with you.

Do You Want to Take Your Business to New Height? So do We!

accounting services singapore
You may not have realized that poor accounting or bookkeeping can easily destroy your business; or how having a precise reference point on your financial position can significantly influence the decisions you make for your business. Without a full understanding of your finances, you could quickly find yourself a statistic in the ‘failed-businesses’ list.

When you choose to work with us, we become more than your accountant, we become your trusted business partner. We will help you with the nitty-gritty detail of setting up your accounting system and make sure your records are properly kept and always up to date. We will also help you with all the statutory filings of accounts and returns necessary to satisfy the Inland Revenue Authority (IRAS) and the Accounting and Corporate Regulatory Authority (ACRA) and other relevant government authorities.

The key to getting it right lies in the initial review and setup. Yes, we know – this requires some appropriate investment in time and resources, but once we are over the initial phase the rest for you is plain sailing. And the benefits to your business will keep mounting – year after year.

And whatever suits your business best – whether you want to keep the control in-house or you feel it more practical that we undertake all the work off-site – we will guide and support you every step of the way.

You may have a bookkeeper to keep track of your debit and credits, but you need tax advice to make sure you pay everything that you must pay, but no more. An experienced accountant can help you in this regard. OS1 Enterprise provides you with the experienced accountants you need, whether your business is small or mid-size; just starting out, struggling to survive or wishing to expand.

Take the first step to peace of mind –

Contact Us Today

Alternatively, you can click and fill up the form below for us to generate a more accurate Quote for you.

Tailored Accounting Solutions:

We have a solution for all your accounting need, no matter what it is. We adopt a straightforward and simple approach thereby eliminating the unnecessary components that obstruct efficiency.

Our range of Singapore Accounting Services includes:

We offer valued-added Business Services Packages. Talk to us - don’t forget we offer a FREE  initial consultation to understand your needs!

1. Setting Up Proper Accounting Systems

Gather Together and Sort Out Your Financial Documents

When we work with you, we will guide you every step of the way. Here are a few guidelines that will help you to streamline your processes, and get you on the road to the elusive peace of mind you are seeking.

  1. Keep all documents relating to your business safe and in one place. This includes goods and services invoices, receipts, bills, bank statements, receipts, government documentation and assessments. Empty your pockets, bags and briefcases.
  2. Do not dispose of any document – it may be useful or relevant – we will advise you. Don’t forget, you are required by law to keep any relevant document for 5 years.
  3. Purchase a rubber stamp, and stamp every document with the date you obtained it.

Establish a Simple Filing System

  1. Use a selection of coloured files or folders and label them correctly. It helps enormously.
  2. Always keep old bank statements, customer invoices, vendor bills, government assessments etc. in separate files.
  3. If you have unpaid invoices or bills, keep them separate so as to avoid confusion.
  4. Make up and keep an ‘Active File’ handy, and put all the documents that need your attention in it – and go through it each day. That way you won’t fall foul of a creditor or the government.
  5. File all your accumulated pieces of paper regularly. Don’t leave it until the period or year end!

What Accounting System Do I need?

To help you (and us) select the best for you, follow these simple guidelines:

  1. Assess how many transactions you do a day/week/month (both sales and purchases) and consider the complexity of the transactions
  2. Have in mind a budget
  3. Think about your business week/month and set aside time for the nitty-gritty that must be done.
  4. Talk to us – don’t forget we offer a free initial consultation

2. Why hire if you can Outsource your Accounting/Bookkeeping Functions Conveniently?

We provide both inbound (at our office) and outbound (at client office) bookkeeping services for the preparation of full set accounts and other accounting/administration related tasks and job scopes in Singapore. Clients can choose to have their accounts maintained at the convenience of their office or ours. Read on our Bookkeeping Services here.

 

3. Do you Want/Need a Cloud-Based Accounting System?

Stop! Before you invest in accounting software take a step back. We have seen the same problem time and time again – enthusiasm leading to inertia.

Consider using OS1 Enterprise to assess and recommend the right software for your business needs – a solution that will meet the needs of today, and still do the same in the future when your business has grown. And we will set the system up and train you in how to get the best from it and how it can help you grow.

Cloud Accounting Services

We are proud to offer our clients the most sophisticated accounting software available –

Xero Cloud Accounting

This software is designed to be simple and intuitive that all business owners can use it to keep their books. And because your accounting records are hosted securely in the cloud – both you and we can access them ease from any location.

OS1 Enterprise sets up the Xero Cloud Accounting system for you at no extra charge and teaches the appropriate employees how to use it.

TAKE ADVANTAGE OF THE CLOUD TO IMPROVE YOUR BUSINESS

Establish a robust and reliable financial system is not an easy task. Whether you're an established business or a start-up, choosing to adopt intelligent cloud tools can save yourself headaches and a lot of money.

4. Financial Reporting

  • Periodic/month end/quarter end/year end closing of accounting books
  • Preparation of monthly/quarterly/yearly management reports
  • Consolidation of Accounts for a group of companies

5. Accounting SOS

  • Clear accounting backlogs
  • Reconstruction of accounts from incomplete records
  • Rectification of prior years' accounting errors

6. Compilation of Financial Statements

Is My Company Exempt for Audits?

Your company may be exempted from audit requirements (and can file unaudited accounts) and become classified as an Exempt Private Company (EPC) if it meets any of the following conditions:

  1. For the financial period commencing on or after 1 June 2014 it is a company with no corporate shareholders and not more than 20 individual shareholders, and with annual revenues of less than S$5 million. (Where the financial year is less than 12 months, the amount must be apportioned pro-rata).
  2. It is a dormant company with a financial period commencing on or after 15 May 2013
  3. An audit is not required by:

Shareholders holding not less than 5% interest in the company’s share capital; or ACRA; or other government authorities/financial institutions/ creditors.

If your company fits the requirements above, then you need not have to be audited.

However, Companies and directors still have a legal responsibility to ensure that proper accounting and other records are kept to enable the unaudited financial statements to show a true and fair view to be prepared in accordance with the Singapore Financial Reporting Standards.

The unaudited financial statements or compilation report is to be tabled during AGM, Annual Return Filing with ACRA and income tax filing with IRAS.

For more information on our Compilation of unaudited Financial Statement Service, please go to here.

 

7. XBRL- Information You Need to Know

ACRA announced that revised XBRL filing requirements will be implemented from 2 December 2013. A new offline tool – BizFinx – will be used for preparing financial statements and the BizFinx Portal will be used for submitting Annual Returns together with prepared financial statements.

Why the Need for XBRL?

You probably don’t need to know about this. It’s basically so that it’s easier for ACRA to operate and distribute/share financial information.

Who is Affected By The Revised XBRL Filing?

Almost every Singapore incorporated company (unless exempted).

Who is Responsible for the Correct Representation and Accuracy of Information?

As with previous financial statements, company directors are responsible – so it’s worth getting a specialist firm like OS1 Enterprise to compile everything and make certain it’s accurate.

What are the Advantages of Preparing the XBRL Voluntarily?

If you operate in a particularly competitive business environment and have need of a range of comparative reference material, XBRL filing gives access – via the BizFinx portal once a year – to comprehensive data analysis.

The information will allow you to:

  1. Benchmark your business against that of your peers
  2. Compare your performance against your competitors
  3. Potentially gain a competitive edge by using the improved analytics
  4. Understand and monitor industry trends
  5. Help achieve cost savings and make accurate decisions

The advantages of outsourcing XBRL filing to OS1 Enterprise

In theory, filing financial statements by XBRL is not a difficult process to undertake. However, it is vital that the information submitted is wholly accurate, and the director is ultimately legally responsible for this accuracy. XBRL filing can be complex and time consuming, especially as it only has be compiled and submitted infrequently.

OS1 Enterprise will give you peace of mind knowing that your company’s XBRL filing is accurate and compliant.

Charges for our XBRL services start from S$200, depending in the complexity of compilation, and we are generally able to complete the job within one business day. For us to compile your XBRL lodgement we require your financial statements in either Word or PDF format – we do all the rest.

Why

Outsource Your Accounting to Us?

Competitive Pricing

Competitive Pricing
Accounting services from experienced accountants for as low as $50/month! Need we say more?

Cost Savings

Cost Savings
Hiring an in-house, full-time accountant will have you paying extra in overhead costs; costs that include benefits, trainings, and salaries. Hiring us eliminates all these extra expenses. The money saved can then be allocated to other important aspects of your business.

Expert Advice

Expert Advice
Get sound financial management advice from experts who have years of experience in the industry. We are a team of professionals that know, through experience, what works and what doesn’t; and this information will aid you in your pursuit of making your business a success.

Convenience

Convenience

Hiring us gives you one less thing to do – a major thing at that. In addition, whenever you need any financial information of your company, it will just be within your reach. This allows you to focus getting your business to the top.

How to Get Started?

Get in Touch

We'll have an initial phone call or no obligation meeting, so we can fully understand your corporate services requirements and any other concerns you might have: Where you are now, your business growth goal.....

Discuss Scopes & Solutions

Next we'll discuss in more detail how we can help make things easier for you, perhaps by suggesting relevant cloud tools that can do away with manual mundane tasks by improving your processes. We will also determine the scope of your needs and prepare a proposed Quotation for you.

Launch

Upon you approve the Service Agreement Paperworks , we’ll get you up and running within 5-7 business days.We manage the accounting, so you can focus on your business.

We welcome inquiries. Please allow us to get in touch within 2 working days after submitting any inquiries.

Alternatively, you can call +65 6873-2886 or Call/SMS +65 9889-4776 to speak with our friendly   accountant.

O.S.1 Pte. Ltd.
2 Leng Kee Road
#04-09 Thye Hong Centre
Singapore 159086

T +65 6873-2886
M (+65) 9889-4776

hello@os1.com.sg
https://enterprise.os1.com.sg

Transportation details
Nearest MRT station – Redhill MRT (EW18) Walking is 5 to 7 mins to our office
Nearest Bus Stop – Bus 32, 33, 64, 120, 132, 145 Walking is 5 to 7 mins to our office

Testimonials - Happy Client, Happy Business

  • The services that OS1 rendered are fast and accurate. Will recommend to my business partners for sure. Keep up the good work.
    Kenny Lim
  • “Nicole has done a fantastic job managing my small business accounts in the consulting and education sector. She works accurately and efficiently, is friendly and approachable, uses the right tools to get the job done and is flexible to meet changes in circumstances.”
    Hugh Terry, Rain Trees Kindergarten Pte Ltd
  • “We look to O.S.1 to take care of our tax preparations and accounting needs. They are highly responsive and a pleasure to work with. We are very satisfied with their services.”
    P.K.Kakoulidis Shipping Singapore Pte Ltd
  • “I confirm that I have dealt with O.S.1 Pte Ltd since Aug 2011, during which time they have provided my business with excellent support in the area of account services. Their work has help us in smoothening the account activities in our company enabling us to have reliable and dependable report to our HQ in Japan on time.”
    Frankie Ong, Senior Manager of Sumiden International Trading (S) Pte Ltd
  • “Nicole (Or OS1 Pte Ltd) is one of the few professional accountants whom I’ve come across who is meticulous & detailed in her work. She listens attentively to our company’s needs, and able to advise us on various scenarios & alternatives choices for our company, be it for new set up or expansion. Her patience & valuable experience has also made us feel like she’s part of our business team, instead of just an accountant. Many times, she has extended extra effort to provide us with invaluable-added service, which has once again strengthen her comparative strength over others.”
    Kellin Chan – OIG International Pte Ltd
  • “Ms Nicole, not only get us registered, she’s to do and file our monthly CPF Contributions for our Employee (E-Filing) and update employee contributions when necessary in regards to their age limits and skills development Levy / Benefits. Objectivity to run the company smoothly with less “Paper Work”. If you want the same benefits, you should use O.S.1 Pte Ltd.”
    Mr Eddie H.P.Tan , Gloss & Glow Pte Ltd
  • “Nicole provides a very professional accountancy service. She’s extremely helpful, efficient, pleasant to do business with, goes above and beyond, and is prompt in returning e-mails. I would not hesitate to recommend her services.”
    Maimunah Alhabshi, Project Spirituality
  • “Nicole has always handled her work with responsibility and pride. She is also very neat and tidy with her work. Nicole is also very fast and quick in her all her work and always leave a very good impression in all her work. She is also very hardworking and devoted to her work. Therefore, I would want to thanks her for all her hard works and effort and congratulate for her new company.”
    KK.Teow, Director of Baker Deli One Pte Ltd

So What Are You Waiting For?

Get yourself the most cost-effective and comprehensive accounting service available in Singapore today!

Schedule a Free Consultation with us.Call/SMS us now at +65 6873-2886 or +65 9889-4776 or fill out our contact form and let us know how we can help you.

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