Online Accountant in Singapore for Your Business
Get paired with an Osome personal tax accountant, set yourself free from paperwork routine, and watch your business grow.
Dedicated Accountants Backed by Smart Tech
What does an accountant do?
Accountant’s job is to maintain and interpret financial records. A personal tax accountant will be responsible for finance-related tasks whether you are a sole proprietorship or a big company.
Accountants that care, think and deliver
Meet your personal dedicated accountant who knows your business, advises you on any decision and ready to answer your questions at any time. So you can spend your time on the things that really matter!
No more mistakes
If you keep incorrect records or submit your financial statements late, you may face severe penalties. An accountant keeps an eye on your compliance with the authorities and avoids any unnecessary expenditures.
Personal touch
Osome provides access to an accounting software. This doesn’t mean that the software will do everything, though. The human touch is always important. By reducing manual work like data entry, accountants will have more time for meaningful analysis that will help your business flourish.
The roles of an accountant at different stages of your business
Singapore accountants play different roles at various stages of your business. A business’s growth depends on them. Accounting procedures changes while your business grows. Regardless of the stage of your business, we have you covered. Learn more below.
Writing a business Plan
Accountants provide you with a realistic business plan aligned with ongoing market conditions. A chartered accountant cuts down the costs of starting and running the business and draws estimates for incorporating and running a business.
Applying for a business loan or overdraft
Accountants identify cash flow issues and make recommendations on financing options like loans or overdrafts. An accountant examines your financial situation, suggests the appropriate business loan to obtain funds, and recommends taking an overdraft when necessary.
Buying a business
When trying to buy another corporation, your corporate tax account will perform an evaluation of the assets, liabilities, profitability, and cash flow and takes you through the various tax-related aspects.
Taking on a franchise
The franchise business involves a sizable investment and future outlay of royalty payments and other costs. The franchise model comes with specific procedures, and employing an accountant puts you in good stead. The accountant uses his expertise and industry knowledge to reduce risks. And, of course, you must consider the small business account fees.
Legal structure of the company formation
The tax accountant helps with the legal structure during incorporation by advising you on issues such as:
- Shareholder agreements (applicable for a Limited Company)
- Advising shareholders about share capital, different types of shares, and dividend policies
- Offering guidance on tax-related implications
Dealing with government paperwork
An accountant ensures that paperwork is compliant with the ACRA or Accountant and Corporate Regulatory Authority in Singapore. Your corporate tax accountant will also assess whether the Income-Tax payable amount is appropriate and applies for tax refunds
Control of income and expenses
A qualified accountant renders advisory on income and expenses by identifying legal ways for saving business taxes such as allowances, government incentives and offsetting losses and finding legal ways to increase your cash flow.
Audit of your company
According to ACRA, the current threshold for audit requires a turnover of at least USD 10 million. Companies with lesser revenue are regarded as ‘a small business’ and exempted. The accountant assists by rendering unbiased audit-related advice and ensuring that the financials are accurate and adhere to regulations.
Before selling a business
In this situation, the accountant helps set up a detailed plan by providing data about company financials of the past three years for the valuation procedure. Qualified accountants can also suggest the deal structure, taxes and lay out a financial plan for the business sale.
Benefits of Osome Acountant
Gives professional advice
An accountant will will track filing deadlines, suggest tax exemptions, and highlight issues in the reports
Thinks in advance
Your accountant can spot financial problems and avoid costly mistakes in your finances and taxes
Provides daily support
Your personal accountant collects, compiles, and analyzes your company's financial data, prepares reports, and stays on top of your questions on a regular basis
Keeps you updated
If a new rule or legislation has been implemented, an accountant can inform you immediately
Pay upfront for the year and get 2 months for free
You don’t measure your business by the number of transactions, so neither do we. Our accounting packages are tied to your revenues. All our packages come as they are, no extra charges — simple and straightforward.
What’s your average monthly ?
Need more?
Additional services you may need
- Unaudited Financial Statements + Tax S$800
- Consolidated Unaudited report S$1,000
- Dormant Accounting S$300
- Full XBRL S$500
- GST Registration S$300
- Payroll, per person S$25/m
Trusted by Osome
entrepreneurs around the world
89% of customers recommend
Osome service
15,000+ Osome clients
worldwide
I've moved not just one business to Osome, but a number. If you’re a small business it’s the place to be — you’ll save time and sleep.
Tingsager Michael Tingsager Consulting Pte. Ltd.
Osome is a fantastic partner for the complex accounting needs of our venture-backed corporate structure. Extra credit for helping us with fundraising transactions!
Ajay Gopalakrishnan Digital Services Sg Six Pte. Ltd.
Osome is reasonably priced and very convenient. I ended up signing my documents while I was on the metro!
Randeep Sudan Multivertz Pte. Ltd.
Osome uncovered many issues that went unnoticed by our accountant. Amazing Osome staff now optimises our tax.
Stanislav Karpenko GIVE VISION Pte. Ltd.
Everything was so seamless, it even looked like a fraud 😀 I didn’t have to go anywhere, I just use the web and mobile app to sign the docs.
Ivan Zeljkovic Evans Media Pte. Ltd.
I’m actually surprised they kept all their promises! I found Osome on Friday and on Monday morning everything was ready.
John Lim Artac Pte. Ltd.
Many accountants I reached out to either never responded or charged extortionate amounts of money. I joined Osome and I'm incredibly happy I did.
Pawel Wargan freelancer
They use the Osome app to gently nudge me to send in paperwork, and they provide me with regular updates and reminders regarding finances and filing deadlines.
Dave Wallace DW4DAYS Pte. Ltd.
FAQ
What does an Accountant do?
In accordance with the ACRA or Accounting and Corporate Regulatory Authority in Singapore, accountants have multiple responsibilities. Although their specific duties vary according to the business model, industry, and contract of engagement, generally an accountant does the following:
- Managing and maintaining accurate financial records in company accounting systems. This service is crucial as even a slight discrepancy can considerably impact the financial status and reputation of your business.
- Gathering and reviewing all financial data for your business, reviewing and evaluating the profitability, including SWOT analysis, to create company financial reports for management teams and shareholders
- In-house liaison with your external auditors to supervise the audit process and share the relevant accounting documentation
- Monthly reports and year-end reviews of the financial budgets and performance
How to find an Accountant for a small business?
Businesses in Singapore must appoint an accountant within the first few months of incorporation. When hiring an accountant, they must ensure that the accountant is:
- A resident of the Republic of Singapore
- Authorised to provide accounting services in Singapore
- Qualified and holds the relevant certifications. They should also meet any other criteria, including the language of communication (if required)
- Not appointed as the only director of the corporation
Often, businesses use the services of a professional accounting firm for their accounting and financial reporting services. With Osome a team of accountants are assigned to your company based on the specific business needs.
How much does an Accountant cost for a small business?
The cost of hiring accountants for small businesses in Singapore can vary depending on the scope of services you require.
It is common for small businesses to outsource their accounting services in Singapore, for standard bookkeeping and accounting-related services you can expect to be charged, on average SGD 100 per month. Services such as payroll vary according to employee count, and these are typically between SGD 10 and SGD 20. The tax service fees are about SGD 400 per annum.
In cases where accountants charge by the hour, the rates vary between SGD 150 and SGD 450. And where accountants charge by transaction volume, the charges can fluctuate between SGD 400 and SGD 1500 a month or more. Osome covers all of these accounting services in one low monthly fee, so you never have to worry about paying extra if your business needs to change from one month to the next.
What does an accountant do for a small business?
When it comes to a small business, an accountant helps contribute towards its future success. An accountant plays an integral role by:
- Identifying the operating costs and creating reliable and realistic revenue forecasts
- Assisting with applications for financing options such as loans and overdrafts
- Helping create a business strategy and the Key Performance Indicators (or KPIs) for measuring progress. The accountant also provides timely feedback on the progress of this.
- Troubleshooting financial problems and testing methods of resolution such as scenario analysis
- Evaluating and consulting on the management of your cash flow statements. Often, accountants help by creating cash reserves and business spending plans.
How does pricing work?
Our pricing is revenue based. We don’t charge on the number of transactions in your account or the number of invoices you upload. All prices are based on the financial year, not the calendar one.
Why do I need an Accountant for my Small Business?
As a small company, your budgets and financial options are limited, so cost-cutting strategies are crucial. Small businesses often find it challenging to use and maintain accounting systems due to lack of time and resources. . Hiring an accountant for your small business can help resolve these issues. The accountant can offer assistance by doing the following:
- Helping to ensure that independent contractors are classified by the Inland Revenue Authority of Singapore or IRAS
- Providing advice on tax-related payments and implications
- Reconciling your bookkeeping and preparing financial statements at the year-end.
- Compiling and filing your taxes and financial reports in adherence with IRAS regulations.
Accountants also play an integral role during business growth. They offer assistance by:
- Helping you determine the growth areas and offering insights on cash flow, pricing, and inventory
- Offering advisory about leasing and purchase of property and equipment
- Preparing you for an audit
I didn’t find the answer to my question...
That’s alright! Let us know your question
