If you’re worried about how to keep proper track of your business’s accountancy and have no in-house accounting team yet, this post is for you.
Today, we’ll be taking a closer look at the best accounting services in Singapore to help you manage your financial statements and tax records. They were selected because they meet a number of practical criteria that can help you grow your business.
We also included an FAQ section at the end of this post, so make sure to check it out.
How much do accounting services in Singapore cost?
We carefully handpicked accounting service providers in Singapore for this post. Along with other practical considerations, we feel they represent the best cost estimates for the services clients typically sign up for.
To compare their rates and fees, here’s a table for quick reference.
Please note that each service provider could charge uniquely, whether it’s for a one-time contract or a recurring monthly or yearly one.
Some of them also base their fees on a sliding scale that fits the company’s revenues instead of charging a fixed rate across the board.
The Best Accounting Services in Singapore
As previously mentioned, these accounting services were selected with the following factors in mind:
1. Counto
Total Scores
Counto’s wide range of accounting and bookkeeping services are aimed primarily at start-ups and small businesses, though it can also serve regular businesses. A lot of its clients are tech start-ups and online sellers.
What makes Counto stand out among the rest is its revenue-based pricing method. The company doesn’t charge by the number of transactions but uses a sliding scale charging method based on the client’s annual revenue.
Aside from bookkeeping and tax filing services, Counto’s unique system gives clients the kind of data analytics to help their business grow. But there’s also a human touch to its services because a dedicated team of accountants and engineers are on-hand to help each customer.
Its AI-powered accounting platform is designed to be integrated with any company’s existing software or system. To underline how easy it is to get started, Counto offers one month for free to potential clients.
A brief interview with a couple of satisfied clients yielded mentions of the team’s professionalism and patience when it comes to explaining how the Counto system works. For us, those are marks of an accounting service provider with an eye for accuracy and organization.
Pros
- Offers a one-month free trial
- Has a dedicated accounting team for each client
- Charges by annual revenue, not fixed rates
- 24-hour online availability
Cons
- Better suited for start-ups and small businesses
- Some of its prices are steeper than most
Customer Reviews
Responses are quick and the team is engaged
“Good service and team! Definitely recommend Counto to the tech-savvy businesses looking for accounting services as they are heavy on tech as well which makes it easy to work with. Responses are quick and the team is engaged, good stuff!” – Leon Chen
Professional, friendly, and thorough in explaining bookkeeping and accounting system
“They are professional, friendly, and thorough in their explanation of their bookkeeping and accounting system. They’re very responsive when you have urgent enquiries and are very sincere when it comes to helping you. I will definitely recommend them, especially to other startup SME founders due to their flexible and unique pricing structure which I’m not able to find anywhere else.” – Dani Ash Alia
2. Timcole
Total Scores
Timcole’s services cover practically everything a company needs for accounting, tax filing, secretarial services, and even immigration processing. It promises to be a one-stop business solution, and clients we talked to can verify they fulfill this promise well.
Its range of business-related services is wide enough for the company to provide comprehensive packages to its clients. Timcole also offers company incorporation, company secretarial, bookkeeping, and other bundled-up services under one price.
Various industries, including construction and engineering, e-commerce, retail, and food and beverage, make up its clientele. But we like how Timcole has geared its services to SMEs and start-ups, as well.
And while the company doesn’t claim to have the cheapest rates on the market (their words, not ours!), it does emphasise the absence of hidden rates and surprise fees. Upward fee adjustments are communicated to the client straight away, which is always welcome.
Pros
- Offers one-stop business solutions
- Serves a wide range of company types and industries
- Offers both one-time and recurring services
Cons
- Closed on weekends
- No free trials
Customer Reviews
My trusted partner that takes care of our back-office
“We completely outsourced our Accounting and HR function to Timcole for the past 4 years. They are my trusted partner that takes care of our back-office, while I can just focus on my business operations.” – Charles Yoshida
Acts not just as an external accountant entity, but more as our Internal Accounting department
“We have been using Timcole’s Accounting Services for the past 3 years for both our Singapore and Malaysia operations. They act not just as an external accountant entity, but more as our Internal Accounting department that is an integral part to our business.” – Alan Wong
3. Win Global Solutions
Total Scores
Win Global is best known for specialising in XBRL (eXtensible Business Reporting Language) financial statements and conversions. This is a practical service since it’s compulsory among incorporated Singapore businesses to file annual accounts in the XBRL format.
The company has been around for over a quarter-century. It’s great to note that aside from the usual taxation and accounting services, Win Global also offers consultancy for such issues as striking-off and members’ voluntary liquidation of companies.
What makes it stand out is that it provides a free business evaluation for potential clients. Win Global also offers free promotions for start-ups like an introduction and a trial version of its available accounting software.
It’s got one of the most comprehensive pricing guides we’ve seen among accounting companies thus far. Rates are customized based on things like transaction volume, annual turnovers, company type (sole proprietorship, LLP, etc.), and various factors.
It breaks down all its fees in a bare-bones manner with tables for accounting, income tax, Singapore incorporation, secretary, human resource, employment pass/visa application, business advisory, and other services.
We appreciate this gesture of pricing transparency so that nothing gets lost in communication.
Pros
- Offers free business evaluation
- Provides XBRL conversion services
- Offers start-up promotions
- Comprehensive service fee guide
Cons
- No 24-hour customer service
- Closed on Sundays
Customer Reviews
Helped my company save a lot of money
“Professional and Trusting. Recommend business friends to visit them. Help my company save a lot of money which I can spend on other places. Thanks!” – Lee Cheng Lim
The General Manager has been a very understanding, forgiving, and generous person
“Mr John Yeo, the General Manager has been a very understanding, forgiving and generous person; a true gentleman indeed. He not only granted us a Cash Grant to us; but also personally came down to our office for a better understanding of our current situation, despite our rude harshness and certain misconduct to him…” – Anonymous client testimony
4. Harvest Accounting
Total Scores
Harvest Accounting wants to be known as the growth partner of small businesses. By going paperless and totally digital, it aims to give clients seamless data collection with KPI measurements to ensure their growth.
Right off the bat, we noticed something unique about one of Harvest Accounting’s services. It’s something called “Rescue Services,” and it’s meant for companies whose accounting has fallen so far behind that it needs professional help to clean up the fiscal mess.
We like how it provides solutions using layman’s terms to explain what it can do for clients. It makes it relatable for most start-ups and SMEs (its main clients) who may not have an idea of how to do accounting and compliance.
In the same vein, it describes its main service as “effortless accounting,” which includes both Xero and Dext software. But while this is meant to be reassuring, not providing a specific price guide for all of its services (everything starts at $300/month) is admittedly a bit disappointing.
Pros
- 24-hour online availability
- Offers Xero setup and migration
- Provides reporting apps for KPI measurements
Cons
- Better suited for small businesses
- Doesn’t provide a specific service rates guide
Customer Reviews
The team was highly adaptable, quick to grasp the complexity of our initial phases
“We have stumbled across “Harvest Accounting” while looking for interim solutions for our Accounting matters. The team was highly adaptable, quick to grasp the complexity of our initial phases, prompt to set up and streamline the processes, able to break down and explain accounting terms in layman terms, able to understand high-level overviews and provide tailored solutions. Thankful to have met a great, efficient, responsive and professional team that has a human touch.” – Kah Yan Li
Service-oriented and always ready to help
“My firm has engaged Harvest to do data migration from SAP to Xero. Matthew is a great consultant to have. He’s service-oriented and always ready to help. He provides good solutions, resulting in smooth migration. It’s been great working with Harvest.” – Kah Hwee Toh
5. Sleek
Total Scores
Sleek is one of the few accounting services in Singapore that offers a 30-day money-back guarantee for clients who aren’t fully satisfied with its services. Now that’s what we call confidence in its abilities.
It also serves practically all business types, from solo entrepreneurs to SMEs. Even SPVs or investment holdings can register their trademarks and real estate assets with Sleek.
One other thing to check out with this company is its transparent pricing guide. It’s one of the most affordable we’ve seen so far, with accounting and bookkeeping services starting at just $75 a month and employment pass or visa applications starting at just $250.
Aside from compliance and accounting matters, Sleek also offers clients corporate insurance services under one roof. You can get coverage for everything from data loss, product liability, workplace injury, and more.
There’s even a special offer for directors’ and officers’ insurance that’s just around $65 a month.
Pros
- 30-day money-back guarantee
- Offers a free business account with registration
- Serves all business types
- Affordable rates across the board
Cons
- Closed on weekends
- No 24-hour customer service
Customer Reviews
One-stop shop for company registration, corporate management, and all about accounting/tax/GST
“Perfect service, approachable staff, and easy use. Just my one-stop-shop for company registration, corporate management, and all about accounting/Tax/GST.” – Fridolin Blumer
Excellent and immediate response and personal support by telephone
“Very user-friendly. Excellent and immediate response and personal support by telephone, i.e., live consultants. The advanced platform is very easy to navigate. In all – everything was perfect, fast, and reasonably priced.” – Aniruddha Roychowdhury
FAQs about Accounting Services in Singapore
Hopefully, this guide on accounting services in Singapore can help your business grow and thrive.
If you have other accounting service providers you want us to check out, send us a message.
You can also check out the following guides for your accounting concerns: