Bookkeeping services in Singapore

We provide bookkeeping services for busy entrepreneurs online. Forget doing it yourself — we automate invoice reconiliation and prepare books for accounting reports

Bookkeeping services in Singapore
Bookkeeping services in Singapore

Hi! Your books are all set for this month 👌 Vlad

Amazing, thanks, guys! 🙌

My pleasure! I’m here if you need me 😉 Vlad

What is bookkeeping?

What is bookkeeping?

Bookkeeping is a daily process of recording financial details and transactions. To make sure your business is financially stable, you need to take care of the following related tasks:

  • Record financial transactions
  • Post debits and credits
  • Generate invoices
  • Keep and balance current accounts, historical accounts and general ledgers
  • Complete payroll
What is the difference between bookkeeping and accounting?
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.

ZWhat do I need for multi-currency accounting?
What do I need for multi-currency accounting?

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.

What you get when choosing Osome Bookkeeping Services in Singapore

  1. Books that are up-to-date

    Books that are
    up‑to‑date

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

  2. Dedicated bookkeeping team

    Dedicated
    bookkeeping team

    You get a personal bookkeeper who knows your business and books. We answer in a chat within 24 hours and answer to the point.

  3. Data ready for reports

    Data ready for
    reports

    Now your books are correct, your Osome Accountant will take care of the filings. We track filing deadlines, suggest tax exemptions, and prepare reports.

Accounting plans for a price that makes sense

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.

Register your business for free
Register your business for free

What’s your average monthly ?

  • Mini

    Monthly revenue under S$5k

    Price per month, billed annually

    S$50/m

    S$600/y

    In this package:

    • Personal Accountant & Bookkeeper
    • Annual bookkeeping
    • Annual management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return

    Monthly compliance review for Nominee

    +S$200/y

  • Starter

    Monthly revenue under S$10k

    Price per month, billed annually

    S$100/m

    S$1,200/y

    In this package:

    • Personal Accountant & Bookkeeper
    • Bookkeeping
    • Quaterly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return
    • Xero account

    Want to pay monthly?

    S$120/m

  • Booming

    Monthly revenue under S$25k

    Price per month, billed annually

    S$150/m

    S$1,800/y

    In this package:

    • Personal Accountant & Bookkeeper
    • Bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return
    • Xero account

    Want to pay monthly?

    S$180/m

  • Rocking

    Monthly revenue under S$50k

    Price per month, billed annually

    S$250/m

    S$3,000/y

    In this package:

    • Personal Accountant & Bookkeeper
    • Bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return
    • Xero account

    Want to pay monthly?

    S$300/m

  • Unicorn

    Monthly revenue under S$100k

    Price per month, billed annually

    S$350/m

    S$4,200/y

    In this package:

    • Personal Accountant & Bookkeeper
    • Bookkeeping
    • Monthly management reports
    • Unaudited Financial Statements
    • Estimated Chargeable Income
    • Corporate Tax Return
    • Xero account
    • Multicurrency Accounting

    Want to pay monthly?

    S$420/m

  • Beyond
    S$100k a month

    We have a perfect offer for your business, and we are ready to discuss it with you

    Get a custom offer

Need more?

Additional services you may need

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Trusted by entrepreneurs worldwide

89% of customers recommend us

7,500+ clients worldwide

Xero platinum partner

Here’s what our customers say

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.

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

Chat to your Accountant and
access reports on the go on our app

Chat to your Accountant and <br>access reports on the go on our app

4.8 out of 1,563 reviews

  • 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

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.

  • Can I switch from another accounting firm to Osome?

    Absolutely. We make the transition seamless on your end. We’ll directly get in touch with your current accounting service provider, take over all your financial documents, and audit them to make sure your company is compliant. We check for any loose ends with IRAS, organise historical data, and then prepare and file necessary reports. We'll advise on the available tax exemptions, too, so you can pay your taxes smarter. You can focus on growing your business now that your accounting is in good hands.

Helena

Hey! I’m Helena. I’ll help you through our services. Ready to go?

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