Is bookkeeping mandatory for Singapore companies?

Yes. Under the Singapore Companies Act, all companies incorporated in Singapore are required to maintain proper books of accounts from the date of incorporation. These records must be kept for at least 5 years and must accurately reflect the company's financial transactions and position. Proper bookkeeping records are required for ACRA annual return filing, IRAS tax submissions, and statutory audit, where applicable.

How much do bookkeeping services cost in Singapore?

3E Accounting's bookkeeping services in Singapore start from S$500 (W/GST S$545) per year for companies with up to 30 transactions per month. Standard SME packages range from S$1,200 to S$2,400 per year, depending on transaction volume. GST e-filing is available for an additional S$150 (W/GST S$163.50) per quarter. Contact us at info@3ecpa.com.sg for a customised quote based on your company's specific transaction volume and business nature.

What is the difference between bookkeeping and accounting in Singapore?

Bookkeeping refers to the systematic day-to-day recording of all financial transactions, such as sales, purchases, receipts, and payments. Accounting is the broader function of interpreting, classifying, and reporting on those records to produce financial statements, tax returns, and compliance filings for ACRA and IRAS. 3E Accounting provides both functions as an integrated service, ensuring your records are accurate and all statutory submissions are completed on time.

How often should bookkeeping be done for a Singapore company?

Bookkeeping for a Singapore company should ideally be done on a monthly basis to ensure accurate financial reporting, timely GST filing (for GST-registered companies), and clean records for year-end financial statements. 3E Accounting offers bookkeeping on a monthly, quarterly, half-yearly, or annual basis, depending on your company's transaction volume and reporting needs. Monthly bookkeeping is recommended for companies with active operations or GST registration.

What software does 3E Accounting use for bookkeeping services?

3E Accounting delivers bookkeeping services in Singapore using Xero and QuickBooks Online, the two leading cloud accounting platforms for SMEs. Both platforms support real-time financial reporting, bank feeds, multi-currency transactions, and seamless IRAS GST reporting. Clients can access their accounts securely from anywhere at any time, and 3E Accounting's team collaborates in real time without manual file transfers. We will recommend the platform best suited to your business needs.

Can I switch my bookkeeping to 3E Accounting mid-year?

Yes. 3E Accounting handles mid-year bookkeeping transitions, including migration from your existing accounting software, reconciliation of prior period records, and catch-up bookkeeping for backlogged accounts. You provide your existing records, and our team handles the full migration and setup. Contact us at info@3ecpa.com.sg to discuss your specific situation, and we will provide a customised quote for the transition work required.

Bookkeeping Services in Singapore - SME Accounting Services

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Top Bookkeeping Service in Singapore

3E Accounting delivers comprehensive bookkeeping services in Singapore, fully compliant with ACRA and IRAS requirements. Under Section 199 of the Singapore Companies Act, every Singapore company must maintain proper books of accounts. We assign you a dedicated accountant handling everything from daily transaction recording to year-end financial statements.

Is Bookkeeping Legally Required in Singapore?

Sections 199 & 201 of the Companies Act mandate accurate financial records for all Singapore-incorporated companies. Non-compliance exposes directors to personal liability. It is:

Mandatory under Companies Act (Sec. 199 & 201)
Required for ACRA annual return filing via BizFile+
Essential for IRAS corporate tax filing (Form C-S/C)
Prerequisite for GST return submissions
Foundation for audit-ready financial statements

How Much Do Bookkeeping Services in Singapore Cost?

Packages Available	Fee (SGD)
Bookkeeping services	From $500 (W/GST $545) per year
GST Submission and E-filing	From $150 (W/GST $163.50)
Other ad-hoc bookkeeping or administrative support services	to be advised

Note: Outsourced bookkeeping in Singapore starts from S$60-S$1,000+/month, depending on transaction volume and business size, significantly lower than hiring in-house staff at S$3,500-S$5,500/month, including CPF.

Why Outsource Your Singapore Bookkeeping Service?

Benefit	What You Gain
Regulatory Compliance	Always aligned with ACRA & IRAS
Dedicated Accountant	One expert, fully familiar with your accounts
Cost Efficiency	Save up to 30% vs. in-house hiring
Business Insights	Monthly/quarterly management reports
Scalable Support	Monthly, quarterly, or annual, your choice
Audit-Ready Records	Clean books, zero last-minute scrambles

How Does Our Bookkeeping Service in Singapore Work?

When you engage 3E, a dedicated accountant is assigned to personally manage your business accounts, organising, maintaining, and reconciling your ledger in accordance with Singapore Financial Reporting Standards (SFRS) for statutory submissions.

Documents Required:

- Sales & purchase orders/invoices
- Expense notes & payment/journal vouchers
- Bank statements

Payroll summary

Tenancy agreements/invoices
Fixed asset register & inventory listing
Hire purchase/borrowing statements
Debtor & creditor control schedules

Services Included:

- General Ledger Maintenance
- Accounts Payable & Receivable
- Bank Reconciliation
- Fixed Assets Ledger

Cash Flow & Budgeting

Financial Statements (Monthly/Quarterly/Annual)
Books Cleanup & Backlog Rectification
Management Reporting & Financial Analysis
GST Reconciliation & Filing Support
ACRA & IRAS Compliance Monitoring

Who Is This Bookkeeping Service Designed For?

Whether you are starting, expanding or switching providers, this service is designed for:

New companies
Startups & micro-enterprises
Growing SMEs
Foreign-owned companies
DIY switchers

What Information Is Required for a Bookkeeping Service Quotation in Singapore?

Email your details to info@3ecpa.com.sg, and we’ll provide an accurate, obligation-free quote.

For Newly Incorporated Companies:

- Company name, business nature & financial year end
- Expected monthly revenue, sales & expense transactions
- Number of bank accounts, debtors & creditors
- Bank statement pages per month
- GST-registered or not
- Any hire purchase, loans or investments
- Foreign currencies involved
- Accounts preparation frequency (Monthly/Quarterly/Half-Yearly/Annual)
- Significant inventory balance expected
- Existing accounting software or on-site support required

Audit required

Total staff count & any existing accounting personnel

For Existing Companies – Additional Requirements:

Last year’s financial statements (with a detailed income statement)
Latest management accounts (Balance Sheet & P&L)
Last bank reconciliation set
Last GST return filed
Prior year fees for Accounting, Audit, Tax & Corporate Secretarial

Your Trusted Bookkeeping Partner in Singapore

At 3E Accounting, no two bookkeeping engagements are the same. From a startup’s first set of books to a scaling SME’s monthly management accounts, our Singapore bookkeeping services deliver precision, compliance, and confidence every financial year.

Ready to Simplify Your Bookkeeping?

3E Accounting delivers precise, compliant bookkeeping services in Singapore so your business stays audit-ready, always.

Contact Now

Frequently Asked Questions

What are the top bookkeeping services available in Singapore?

Leading Singapore bookkeeping services include general ledger maintenance, accounts payable and receivable management, bank reconciliation, GST filing support, payroll reconciliation, and management reporting. Reputable providers like 3E Accounting offer all these under a single, dedicated-accountant model, ensuring compliance with ACRA and IRAS requirements.

How to choose a reliable bookkeeping service for a small business in Singapore?

Prioritise firms with verified ACRA registration, experience with Singapore Financial Reporting Standards (SFRS), transparent pricing, and a dedicated accountant model. Avoid generic packages; your bookkeeping service in Singapore should be scoped to your transaction volume, GST status, and industry to ensure cost-effective, accurate compliance.

Average monthly cost for outsourced bookkeeping in Singapore?

Outsourced bookkeeping in Singapore ranges from S$60-S$1,000+/month based on transaction volume and business size. Small businesses typically pay S$150-S$400/month, while GST-registered or high-volume companies may pay S$500-S$1,000+. 3E Accounting offers transparent, scalable packages starting from S$500/year, tailored to your exact business needs.

What are the essential services included in a typical bookkeeping package for Singapore SMEs?

A standard Singapore bookkeeping package for SMEs covers general ledger maintenance, bank reconciliation, accounts payable and receivable management, fixed assets ledger, GST reconciliation, and financial statement preparation in line with SFRS. Reputable providers also include management reporting and ACRA/IRAS compliance monitoring.

Benefits of hiring a professional bookkeeper for a startup in Singapore?

A professional bookkeeper ensures your startup maintains ACRA-compliant records from day one, avoids costly rectification later, and meets IRAS tax filing deadlines. It frees founders to focus on growth, reduces financial errors, and provides real-time visibility into cash flow, critical for early-stage decision-making and investor readiness.

Is GST filing included in 3E's bookkeeping service in Singapore?

Yes. GST submission and e-filing are available as an add-on, starting from S$150 (S$163.50 with GST), and are exclusively offered to clients engaged in our Bookkeeping Service. Our accountants handle all GST reconciliation, return preparation, and e-filing on behalf of your company directly with IRAS.