We take over your books and do them online
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We take over your books and do them online

Bookkeeping services in Singapore

Bookkeeping services in Singapore: winning the battle for busy entrepreneurs

Our team
Learn what it takes
  • ACRA registered filing agent
    FA20170653
  • Xero Platinum Partner
    Xero
    Platinum Partner
  • Institute of Singapore Chartered Accountants
    Our accountants are certified by ISCA
  • MOM Employment Agency License
    License No. 19S9930
  • Infocomm Media Development Authority
    Pioneers of Cloud Community Network

Bringing order to your documents
chaos
documents chaos

We make sure all your books are in place and ready every day, not just the end of the month

documentsphone
Always fresh books

Books done in minutes

Send us the docs the minute you have them: we reconcile every 24 hours and show what’s missing. You don’t have to spend hours retracing old invoices.

Less time spent

Dedicated bookkeeping team

You get a personal bookkeeper who knows your business and books. We answer in a chat within 15 minutes, even late at night and on weekends.

Real numbers every day

We show real-time balance and your day-to-day dynamics from all connected banks. Anything sold or bought today goes straight into the reports tomorrow.

Product features

  • Magic box

    Magic box

    Forget sorting and tagging docs, it’s our job now. We extract data from invoices, assign accounts, and store files neatly.

  • Daily checkup

    Daily checkup

    No more retracing docs from weeks ago. We go through each transaction daily and check if any docs are missing.

  • Easy upload

    Easy upload

    Choose the easiest way for you to send in your docs: email them, snap pictures, or drag and drop.

Choose the plan that works for you

Our bookkeeping packages come as they are, no extra charges — simple and straightforward. All the plans include:

  • Daily bookkeeping done in Xero
  • Books perfectly ready for your accountant
  • Online support with 15 minutes response time
  • Multicurrency bookkeeping for additional S$25 a month

Starter

For businesses with up to 40 transactions a month

S$100

Booming

For businesses with up to 80 transactions a month

S$200

Rocking

For businesses with up to 160 transactions a month

S$350

Need more?

We can tailor a solution that works for you — just talk to us

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

See Osome in action — schedule a free demo

See Osome in action — schedule a free demo

Take a free tour

Our clients know best

89% of customers recommend us

7,500+ clients worldwide

Xero platinum partner

  • Osome is reasonably priced and very convenient. I ended up signing my documents while I was on the metro!

    Randeep Sudan

    Randeep Sudan
    Multivertz 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

    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

    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

    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

    Dave Wallace
    DW4DAYS Pte. Ltd.

4.7 based on 21 reviews

Try us Rate us
What is bookkeeping?

What is bookkeeping?

Bookkeeping refers to a daily process of recording financial details and transactions. To become a financially stable business, you need to take care of the following tasks:

  • Recording financial transactions.
  • Posting debits and credits.
  • Generating invoices.
  • Keeping and balancing current accounts, historical accounts and general ledgers.
  • Completing payroll.
What is the difference between bookkeeping and accounting?

What is the difference between bookkeeping and accounting?

A bookkeeper is responsible for putting the right information into the right column when any money comes in or goes out of your bank accounts, while an accountant analyses the information. The accountant would prepare the financial statements, give financial advice and sign off accounts.

For the accountant to be able to organise financial records properly and balance finances accurately, they need accurate information from the bookkeeper. So, if your accounting is going to be as good as it can be, your bookkeeping has to be too.

How bookkeeping with Osome works

How bookkeeping with Osome works

When you start a business, bookkeeping services in Singapore is the last thing on your mind. We wanted to offer bookkeeping for startups that would free the entrepreneur from the routine and help you see the real-time picture.

We created software that processes docs automatically, while our experts back the algorithm and answer questions. Now outsourcing bookkeeping makes sense: you get to see your books every day, not in the end of the month. You won’t have to waste time weeks after to find a missing invoice — we chase every document within 24 hours, while you can still recall what it was. Most importantly, you get to see your financials daily. We gather all the data in a dashboard. See you bank balance, all the bills you have to pay and the ones that your counterparts owe you, and plan your cashflow.

We do bookkeeping online on a convenient platform. All your documents get stored in one place, making it easy to find them. Uploading won’t take much of your time, either. Simply take a picture with your phone, or drag and drop a file on your laptop. Better still, you can forward an email with invoices attached — we will open and save it in your account automatically. You just watch it magically appear in the right place, with the right tags, matched to the correct transaction.

We know that offering bookkeeping services for small business means you don’t have much time for it. So, we make sure we don’t waste it. Whenever you have a minute or a question, we answer fast. Our experts respond in a chat 24/7 and within 15 minutes, even late at night and on weekends. We know your business hours are dedicated to doing your business. We’re here to help take bookkeeping off your plate.

Q&A

  • How does your pricing work?

    We build our packages based on your company's size: you pay for the amount of transactions you have each month. This way you don't have to pay for services you don't need and it's easy to switch when you want to scale.

  • Are you going to work with my accountant?

    We love to work alongside accountants and accountants love to work with us. It is our job to record transactions, collect all corresponding documents. The accountant takes it from there: calculates taxes, comes up with tax optimization ideas, prepares forecasts, etc.

  • Will I have to do anything myself?

    You need to send us your receipts in invoices in any format you have them, like scans or pictures on your phone. If anything is amiss, Osome platform makes it easy to track them and gently reminds you to send them in. Everything else we'll do ourselves.

  • How do you do bookkeeping for small business?

    Send us your receipts and invoices in any format they have them, like emails, scans or phone pictures. If anything is amiss, Osome platform highlights the transaction and sends a notification straight away. You won’t have to spend hours at the end of the month trying to find long-forgotten documents.

  • What bookkeeping services do you provide?

    We collect all supporting documents and categorise them into corresponding accounts. Every day we connect to Xero and your banks to reconcile incoming documents with transactions. If a document is missing, we reach out to you on the same day. This way you won’t have to wait for the books to be ready at the end of the month: you can always rely on the data we provide.

  • How to decide on a bookkeeping method?

    The first step to getting started with bookkeeping is choosing the method you will use. The first step is to choose between 2 types of bookkeeping – single-entry or double-entry. Then, choose between cash or accrual basis of bookkeeping.

    What are the things to consider when choosing between single-entry or double-entry? Well first, consider the volume of daily transactions and the amount of revenue you earn.

    A single-entry bookkeeping process is a straightforward method in which you make one entry for each transaction. A cash book is typically used to track incoming revenue and outgoing expenses. This method suits small businesses and sole proprietorships that do not buy or sell on credit, own little to no physical assets and hold small amounts of inventory.

    According to double-entry accounting, every transaction affects two accounts and is recorded as a debit or a credit. If you make a $10 sale, your cash account will be debited for $10 and your sales account will be credited for the same amount. The total credits must always equal the total debits in a double entry system to balance your books. This makes sense for larger businesses which buy and sell credit.

    The next step is choosing between a cash or accrual basis for your bookkeeping. This decision will depend on when your business recognizes its revenue and expenses. In cash-based, you recognize revenue when you receive cash into your business. In the accrual method, revenue is recognized when it is earned.

  • What is outsourcing small business bookkeeping?

    If a growing small business cannot handle every aspect of its financial management and development, 'doing it all' will result in more pain than gain. Either poorly trained or overworked staff or improper or inefficient bookkeeping procedures result in the same problems - inaccurate financial reporting, delays in financial reporting, and fiscal uncertainty. When a few employees fulfill a number of roles and tasks within your organization, it may be better to outsource your bookkeeping functions than building that capability internally.

    When you outsource bookkeeping, you can scale your services up or down as your business needs change. In many cases, outsourcing your bookkeeping is more cost-effective (sometimes by a substantial amount) than hiring a full-time bookkeeper and covering all expenses.

  • Are bookkeeping and accounting the same?

    Bookkeeping and accounting are closely connected, but they’re two different things. Bookkeeping takes care of tracking and sorting the documents. Any time you spend, lose or make money, your bookkeeper adds it to the books. Your accountant then builds reports using these numbers. The government requests these reports to calculate how much tax you owe and whether you are exempted from some of it.

  • What does bookkeeping mean?

    Bookkeeping means literally making sure invoices and slips don’t get lost. In business, every time you move money or assets, like when you buy or sell something, there’s some sort of document tracking that action. It is bookkeepers job to collect, categorise, and reconcile them.

  • Why bookkeeping is important?

    The bookkeeper is in charge of document organisation. If your docs are in chaos, you might miss an invoice, or assign a wrong account. If that mistake goes into your reports unnoticed, you might file taxes incorrectly: pay more, or worse, get fined. If the accountant finds the mistake, it will take time to go back and fix it, which might result in paying a hire fee.

  • Why is preparing financial reports so complex?

    Accounting professionals strive to provide accurate and reliable financial information to interested parties. Financial information, in the accounting industry, refers to information found on the financial statements of a company that tells how well or badly a company is performing. Users of financial information, generally creditors, investors, and potential creditors and investors, rely on the information included in the company's financial statements to make decisions about their interactions with it.

    Creating reports that provide financial information can sometimes be problematic. Reporting errors are among the most common problems that occur during the reporting process. It occurs as a result of things such as miscalculations or transposing numbers.

    Financial reporting has become more challenging in recent years due to the complex nature of business transactions, as well as greater investor, regulatory, and public scrutiny. A company's financial reporting should reflect economic and business reality according to which investment decisions are ultimately made, so hiding that reality can in turn affect investors themselves, as well as lenders, investors, customers, suppliers and employees. There is a widening concern that there is a detrimental effect on confidence in financial reporting systems due to the increasing complexity of financial reporting standards themselves, as well as the consequences of fraudulent inaccuracies in financial statements.

  • Can I do my own bookkeeping?

    If you are a freelancer or run a home-based business there are compelling reasons to do your own bookkeeping. It saves you money, puts you in control, and you really get to understand your business’s finances. You can also make sure that your business is compliant when it’s time to pay tax as you know that your records are accurate and complete and you have all expenses recorded so you can make the most of tax deductions.

    However when your business grows, and you’re working more on making more sales, and strategies to grow your business, this is when you need to outsource your small bookkeeping to a trusted partner who you can trust to make accurate and complete financial records at the end of each month.

  • How to set up my business accounts?

    You can set up a business account with a traditional bank or a digital bank. If you open a digital business account, you can run your business from anywhere using only mobile devices, tablets, or laptops. All you need is your name, address, and e-mail address to activate your account. No branch visit is required, no advisor interaction is needed, and even your identification shouldn't need to be checked physically.

    It is entirely possible to open an online business account with a digital bank at any time of the day. Current traditional banks are open during hours which may not be friendly to all businesses. Company directors don’t have to plan their work with their banks around the usual operating hours of a bank or sneak out during working hours. No queue-ing up is needed too. Furthermore, with travel restrictions, digital banks enable you to open your account from anywhere in the world.

  • What bookkeeping software do you use?

    We have our own platform that you can access from a desktop or mobile device. You can send the docs easily, have your files stored and sorted out, and ask questions 24/7. We are integrated with Xero — an elegant accounting solution for small and medium businesses used by 2 million clients worldwide. Osome is Xero's platinum partner and an approved app. The migration takes just a few minutes and we make it happen ourselves.

  • Is it hard to migrate to Xero from Quickbooks or Sage?

    Transferring to Xero is easy and free. You'll need to download a CSV file containing your data from the current provider and send it to us. We'll take care of the rest: upload it into Xero and set up your new account.

  • Is it hard to migrate to Xero from Quickbooks or Sage?

    Transferring to Xero is easy and free. You'll need to download a CSV file containing your data from the current provider and send it to us. We'll take care of the rest: upload it into Xero and set up your new account.

  • E27
  • Entrepreneur
  • foundr
  • sgsme.sg
  • Tech in Asia
  • Vulcan post
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