Accounting & Bookkeeping Services

Your Trusted Accountant and Book-Keeper in Singapore

Available Services
Pricing / Packages

Services Available

  • Bookkeeping services

  • Compilation of unaudited financial report

  • Preparation of XBRL for annual filing 

  • Filling of annual returns to ACRA

  • Tax returns filing

  • Registration of GST

  • GST return filing



Ensures Statutory Compliance
Focus your time on your business
Gain insight into your business operation
Receive professional financial advice

Why Us

  • Professional Chartered Accountants to handle your books

  • Transparent and affordable pricing

  • Reliable and prompt support at short notice

  • Comprehensive suite of services under one roof

Bookkeeping Services

Knowing the financial position of a business is crucial to making informed decisions and ensuring regulatory compliance for success. Bookkeeping services are those accounting services that help track the financial position of a business by systematically recording all its financial transactions and summarizing business activities in financial reports on a monthly, quarterly, bi-annual, or annual basis. Bookkeeping services maintain the day to day financial data to create financial statements which are then used to analyze the performance of a business.

Bookkeeping accounting services are essential for all businesses irrespective of their size. Accountants can use these services to help businesses gain valuable insights into their finances, track how much money is going in and coming out, and to control their expenses or allocate resources accordingly to increase their return on investment.

Bookkeeping services include:

  • Maintaining financial statements
  • Preparing and maintaining books of account
  • Monthly, quarterly, half-yearly, or yearly accounting reports including profit and loss account, general ledgers, trial balances, cash flow statements, balance sheets, and others.
  • Invoicing
  • Preparation of tax returns
  • Bank reconciliation
  • Analyzing performance indicators
  • Cash flow analysis
  • Management reporting

Compilation of unaudited financial reports

Companies that are exempted from audit are still required to prepare financial reports in accordance with the Singapore Financial Reporting Standards (FRS) and Companies Act. These unaudited financial reports must be compiled for tax submissions and as part of their annual filing with ACRA and IRAS. A chartered accountant can help compile the unaudited financial reports of businesses depending on whether it is a dormant company, MicroSME, or an exempt private company (EPC).

Unaudited financial reports include:

  • Profit and loss report
  • Income statement
  • Balance sheet
  • Compliance reports
  • Director’s statement
  • Statement of changes in equity

Preparation of XBRL for annual filing

According to the new ACRA filing requirement, all Singapore incorporated companies must file their financial statements in XBRL format. XBRL stands for eXtensible Business Reporting Language which is an open international global framework for exchanging business information. XBRL allows the reporting and retrieval of online business records which are used by professional accountants, auditors, and financial analysts.

When filing annual returns with the ACRA, the XBRL statements must be accurate and correct. Taking the services of professional accountants in Singapore like CZ Consultancy ensures the accuracy and correctness of XBRL compliant annual filings.


Filing of annual returns to ACRA

All Singapore incorporated companies are required to file annual returns with the ACRA. The annual return contains up-to-date information of the company including company name and registration number, names of the director, secretary, and other members, registered office address, company’s shares details, date of the company’s annual general meeting, financial statements (if applicable), and the date up to which the financial statements are made.

This annual return ensures that the company information in ACRA is up-to-date. The annual return also allows the company stakeholders to make informed decisions about the business based on the analysis of critical information shared in the return.

Tax returns filing

Every company in Singapore is required to file tax returns of the preceding financial year with IRAS. In each year of assessment (YA), IRAS assesses the company’s income and expenses of the previous 12 months known as the basis period. Every company is taxed at a flat rate of 17% of its chargeable income.

Timely tax returns filing is essential to avoid being issued an estimated notice of assessment or a Section 65B(3) notice by the IRAS. CZ Consultancy can help file tax returns for your business as well as offer other accounting services for your business.


Registration of GST

A company in Singapore is required to register for GST if its taxable turnover for the last 12 months exceeds S$1 million. Alternatively, a company can also voluntarily register for GST even if their turnover is below S$1 million. GST registration is carried out within 30 days of the end of the calendar year or quarter.

By being GST-registered, companies can charge GST for goods and services from customers which is then forwarded to the IRA. Such companies can also claim back GST on some of their business purchases. The current standard GST rate is fixed at 8% in Singapore.

CZ Consultancy’s professional accounting services in Singapore can provide businesses with all required details regarding GST registration and help them with all related formalities.

GST return filing

GST-registered companies are required to file their GST returns and make necessary payments to IRAS with the prescribed due date. GST returns can be filed latest after 1 day after the company’s accounting period has ended, whether it is monthly, quarterly, or yearly. If there was no business activity during that period, a Nil GST return must be filed.

GST returns includes:

  • information about the company’s sales, exports, and purchases
  • Total GST collected during the accounting period
  • Amount claimed for the accounting period

GST returns can be filed online through the myTax Portal. CZ Consultancy can help your business file GST returns with accuracy and within the prescribed due date.


Accounting Pricing & Packages


Entry Package

  • $200/month
  • Up to 20 transactions monthly

Intermediate Package

  • $350/month
  • Up to 40 transactions monthly

Premium Package*

  • $450/month
  • Up to 60 transactions monthly

Enterprise Package

  • Request for Quote
  • Above 60 transactions monthly

Financial Report*

  • From $400
  • Compilation of Unaudited Financial Report

Corporate Tax Filing*

  • $450
  • ECI Filing
  • Form C/S Filing
  • Form C Filing

Annual Returns Filing*

  • $350
  • Filing of Annual Returns to ACRA

Tax Returns Filing*

  • From $300

Registration of GST

  • Compulsory: $450
  • Voluntary: $650

GST Return Filing

  • From $200

'*' indicates a popular package

Ensure Compliance with Accounting Services in Singapore

At CZ Consultancy, we take pride in being a dependable partner for businesses in Singapore, offering top-tier accounting services that pave the way for financial success. Our team of experienced accountants is dedicated to understanding your unique needs and providing tailored solutions to help your business thrive. From meticulous bookkeeping to strategic financial planning, we cover all aspects of accounting, enabling you to focus on what matters most - growing your business. Contact us today to find out more.

As a consultancy, we also provide additional services, such as consultancy for overseas business expansionbusiness consultation, consultation for grants, and corporate secretary services. You might also want to take a look at our guide to MRA Grants and Salary Support Schemes in Singapore.



salary support

Salary Support Grants in Singapore 2023 – Things You Need To Know Before Applying

mra grant

MRA Grants in Singapore – What Are They & How Can They Benefit My Business?

FAQs on Accounting in Singapore

Which accounting standards are used in Singapore?

In Singapore, the Accounting Standards Council (ASC) formulates the country’s accounting standards. The accounting standards in Singapore are called Singapore Financial Reporting Standards (SFRS) and are based on the International Financial Reporting Standards (IFRS).

SFRS are based on accrual-based accounting which means that when transactions occur, their effects are recorded at that time and not later when the cash is paid or received. These transactions are recorded and reported in the financial statements of the period in which they occurred. This accrual based system is beneficial to businesses as it informs users of the past transactions where cash was paid or received. Similarly, it also informs stakeholders about future obligations of receipt or payment of cash.

SFRS are further categorized into:

  • The full set of Singapore Financial Reporting Standards
  • Singapore Financial Reporting Standards (SFRS) for Small Entities (SE)

Small enterprises make up a major portion of Singapore businesses. To facilitate these SMEs who had difficulty complying with the full set of SFRS, the International Accounting Standards Board (IASB) formulated SFRS for SEs. These standards ensured transparency and quality for small entities and SMEs. to qualify for SFRS for SEs, companies must meet any two of the following three criteria:

  • The total annual revenue of the company is less than S$ 10 million.
  • The total gross assets of the company are less than S$ 10 million.
  • The total number of employees in the company is less than 50.

If a company meets any two of the three criteria for two consecutive years, it can qualify for SFRS for SEs. If a company grows, it must maintain that stature for two years to be able to qualify for the full set of SFRS.

What is the accounting period in Singapore?

Accounting period in Singapore is usually 12 months or 52 weeks. Companies can choose any date as its financial year end (FYE) that represents the end of its accounting period. The FYE represents the end of the previous year and one accounting cycle of the business. All financial statements and records of transactions are kept for this period. These reports provide valuable insights into the profitability of the business and stakeholders are able to make informed decisions on a regular basis.

Does Singapore use IFRS or GAAP?

In Singapore, incorporated companies use Singapore Financial Reporting Standards (SFRS) which are derived from International Financial Reporting Standards (IFRS).

What is the accounting method in Singapore?

Accrual based accounting method is used in Singapore under which financial statements are prepared. Based on this method, transactions are analyzed and revenues recorded as and when they occur instead of when a payment/cash is paid or received.

Who regulates accountants in Singapore?

The Accounting and Corporate Regulatory Authority (ACRA) and the Institute of Singapore Chartered Accountants (ISCA) regulate professional accountants in Singapore. ACRA is a statutory board of the Ministry of Finance of the government of Singapore.

Apart from formulating regulations and establishing ethical requirements for public accountants performing statutory audit, ACRA is responsible for regulating business registration, financial reporting, corporate service providers, and setting accounting standards for companies.