Cash flow & budgeting in Singapore
Cash flow & budgeting in Singapore
Cash flow & budgeting in Singapore

Guide to cash flow & budgeting in Singapore

We explain what cash flow and budgeting mean, what the government expects from you, and how to organise these processes

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What Is Cash Flow?

What Is Cash Flow?

Cash flow, simply defined, is the amount of cash or its equivalent that is being transferred in and out of the business. A cash flow is positive if a company has more liquid cash coming in rather than going out. It’s a show of company’s robust financial health.

Financial means of any business are distributed across many areas — for example, its assets, outstanding invoices, and investments. One of the surest ways to determine a company’s financial performance is checking its cash flow statements.

What is Budgeting?

What is Budgeting?

A business budget is the financial plan of the company. It is an adjunct to the overall business plan which lays out, in numbers, what the company hopes to achieve that year in terms of money. It contains detailed and data-backed forecasts of annual projected sales, profits, revenue, and expenses of a company.

Why is positive cash flow important?

Why is positive cash flow important?

More cash in hand allows companies to settle their debts, pay shareholders and expenses, and invest in business growth. Every business must be diligent about recording and tracking its cash flow. Bills, expenses, invoices, installments, premiums, or incoming payments – big or small – must all be appropriately tracked. Most companies in Singapore use automated or freelance accounting services in Singapore to monitor and manage their cash flow.

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What are the budgeting compliance requirements for Singapore businesses?

According to ACRA (The Accounting and Corporate Regulatory Authority) in Singapore, the documentary compliance for businesses in the country extends to filing of annual returns and financial statements in XBRL format.

One of the minimum requirements listed for the full XBRL report is the Cash Flow statement. While only selected elements from the cash flow statement are required in Singapore, the document forms an integral part of the business's overall financial documentations. Even in cases where a cash flow statement is not needed – such as with companies exempt from full XBRL reports – it is a fixed part of every organisation’s internal financial statements along with the income statement and the balance sheet.

Accounting plans that match
the size of your business

You don’t measure your business by the number of transactions, so neither do we. Our accounting packages are tied to your revenues. Pick a monthly plan to receive regular financials, or an end-of-the-year catch-up accounting to submit neat reports. All our packages come as they are, no extra charges — simple and straightforward

I want to receive reports

What’s your average monthly ?

  • Mini

    Monthly revenue under S$5k

    Price per month, billed annually

    S$67/m

    S$800/y

    In this package:

    • Daily bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
    • Xero account
  • Starter

    Monthly revenue under S$10k

    Price per month, billed annually

    S$100/m

    S$1200/y

    In this package:

    • Daily bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
    • Xero account
  • Booming

    Monthly revenue under S$25k

    Price per month, billed annually

    S$150/m

    S$1800/y

    In this package:

    • Daily bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
    • Xero account
  • Rocking

    Monthly revenue under S$50k

    Price per month, billed annually

    S$250/m

    S$3000/y

    In this package:

    • Daily bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
    • Xero account
  • Unicorn

    Monthly revenue under S$100k

    Price per month, billed annually

    S$350/m

    S$4200/y

    In this package:

    • Daily bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
    • Xero account
    • Multicurrency accounting
  • Beyond

    Monthly revenue over S$100k+

    Price per month, % of your revenue

    0,32%

    In this package:

    • Daily bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
    • Xero account
    • Multicurrency accounting
  • Mini

    S$60k Revenues/ year

    Price per month, billed annually

    S$50/m

    S$600/y

    In this package:

    • Daily bookkeeping
    • Annual management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
  • Starter

    S$120k Revenues/ year

    Price per month, billed annually

    S$100/m

    S$1200/y

    In this package:

    • Daily bookkeeping
    • Annual management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
  • Booming

    S$300k Revenues/ year

    Price per month, billed annually

    S$150/m

    S$1800/y

    In this package:

    • Daily bookkeeping
    • Annual management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
  • Rocking

    S$600k Revenues/ year

    Price per month, billed annually

    S$250/m

    S$3000/y

    In this package:

    • Daily bookkeeping
    • Annual management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
  • Unicorn

    S$1,200k Revenues/ year

    Price per month, billed annually

    S$350/m

    S$4200/y

    In this package:

    • Daily bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
    • Multicurrency accounting
  • Beyond

    S$1,200k Revenues/ year

    Price per month, % of your revenue

    0,32%

    In this package:

    • Daily bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return (Form C, C-S)
    • Multicurrency accounting

Need more?

Additional services you may need

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Your financial data protected

Your financial data protected

We set up a direct connection with Xero and your bank to exchange your data securely. All your documents will always be in one place protected with bank-level encryption

Additional things
you may need

One-off services upon your request

S$25 a month

Multicurrency Accounting

When your company deals with multiple currencies

S$300

GST registration and filing exemption

We register your company for GST

S$1,000

Consolidation only

Covers the parent company + 1 subsidiary. Add subsidiaries, associates or joint ventures at S$300 each.

from S$100 a month

Bookkeeping only

Includes daily bookkeeping in Xero, books ready for your accountant, and online support

S$300

Dormant Accounting

Includes Unaudited Report and tax filing

S$25 per person per month

Payroll

We issue payslips, calculate basic salary, overtime, and bonus, prepare and file statutory contributions: CPF, SDL, FWL, etc.

S$200

XBRL Highlight

Only required for companies with negative equity or insolvent

from S$500

Full XBRL

Mainly required for companies being audited, or companies with corporate shareholders, regardless of equity being positive or negative

S$500

Tax Filing Only

We file and submit the tax computation you have. Does not include the correction of errors.

S$150

Certificate of Residency (COR)

COR confirms residency status, it allows to reduce the withholding tax based on double tax treaties when dealing with overseas companies

S$600

Form C

Preparation and filing

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Q&A

  • Why should business owners track their cash flow and work with a business budget?

    Budgets and forecasts are an essential tool for running businesses efficiently and expanding it. It is a monetary depiction of an organization's strategy. Using budgeting and forecasting strategies allows business owners and managers to identify the resources needed to meet their goals.

    In fact, an integral and critical part of every business budget is a cash flow forecast that predicts future sales figures, or the likely cash flow into and out of a company’s bank account in a year. It consists of information regarding cash from operations, cash from investments, and cash financing activities.

  • How can I manage my budgeting and cash flow?

    Maintaining cash flow and budgeting information accurately is vital to ensure the smooth running of a business. And it can only be realized if the company invests in excellent bookkeeping practices. For this, you can either outsource your accounting services to freelance accounting and bookkeeping service providers in Singapore or pay for an automated budgeting app for your Singapore office. We do both: provide a software solution and a team of experts backing it up. You can always ask their advice in difficult matters while the platform provides accurate data and daily updates.

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