Outsourced Accounting Services in Singapore

At Piloto Asia, we provide your company with transparent and convenient accounting and taxation services. As an outsourced accounting service provider, we give you, the business owner, more time to focus on the business by taking away the painstaking and time-consuming process of managing your books and finances.

Through the use of Xero and other accounting software, we offer 100% digital solutions for all of your transactions, expenses, invoices, and other financing records. When you avail of any of our packages, you'll have access to our team of professional accountants who are ready to address any concerns and questions you might have when it comes to bookkeeping and taxation.

All you have to do is get in touch with our accounting team via Phone, Email, or WhatsApp and we'll talk you through the rest.

If your company is exempt from audit, you will need to prepare an Unaudited Financial Statement (UFS), which is compiled every financial year-end. This forms the basis for annual return and tax reporting.

This includes the Director’s Statement, Statement of Profit or Loss and Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flow and Notes to the Financial Statements.

Piloto Asia offers a 100% online accounting service with the help of a Cloud accounting software, so you can send in your cash flow statement, income statement, financial report, records of financial transactions and other important documents via email in whatever format you have available.

XBRL, which stands for eXtensible Business Reporting Language, is a language for electronic communication of financial and business data Worldwide. Regulators, companies, governments, data providers, investors and analysts use XBRL for risk and performance assessment, company comparisons, rating and regulatory reporting.

In Singapore, XBRL is a requirement for companies being audited and those with corporate shareholders. If your firm is an exempt private company (EPC) that is insolvent, you are required to file FS in XBRL format as well.

For further details, refer to ACRA’s guide on XBRL filing and reporting requirement which can be found here.

All Singapore companies are required to compile and prepare tax returns to IRAS every year, regardless of whether you are dormant or active. As a full-service professional accounting firm, we assist businesses in corporate tax compilation, and ECI tax report filing. We also support GST registration and quarterly compilation of reports for GST-registered companies.

Piloto Asia’s trusted tax professionals will keep you up to date of any new developments that have an impact on your business.

Corporate tax is compiled and filed every year. Under IRAS’s requirements, all companies are required to complete a tax computation and submit the ECI (Estimated Chargeable Income) within 3 months from the financial year end (FYE). The Form C / Form C-S is usually submitted by November every year, requiring the tax computation, detailed P&L statement, and financial statements for submission to IRAS.

All private limited companies (Pte Ltd) are required to submit two corporate income tax returns every year, regardless of business activity or profitability.

Note: ECI waiver can be granted if the companies meet the qualifying conditions.

Unless your company is under administrative concession or dormant, you may still need to fulfil the above filing requirements yearly even if your company is running at a loss. When in doubt, you are always advised to consult your accountant.

Dormant companies are still required to file a tax return with IRAS annually, in the format of Form C-S, unless you have been granted submission waiver by IRAS.

We're more than happy to help you clean up your books. During the on-boarding process, the assigned accountant will go through a one-on-one consultation with you to identify your needs and goals from our accounting service.

If any issues are identified during on-boarding, don't worry because through Xero and other accounting software, we carry out what's called a Reconstruction of Accounts. This is a process that ensures our clients’ business accounts and money accounts are in accordance with the Accounting Standards of Singapore.

Once that's done, our accountant will continue with the on-boarding process and introduce you to the accounting services and solutions that we'll provide for you.

Your liability for GST registration depends on the value of your taxable turnover.

This refers to the value of goods and services supplied by you, which are regarded as taxable supplies for GST purposes.

You must register for GST if your taxable turnover at the end of any calendar year on or after 1 Jan 2019 is more than S$1 million.

Please refer to our complete guide on GST Singapore for your reference.

You will not be required to register for GST if:

Case 1: Your taxable turnover is wholly or mainly from zero-rated supplies, and you choose to apply for exemption from registration.

Case 2: You are certain that your taxable turnover for the next 12 months will not exceed S$1 million and have supporting documentation to substantiate your projection.

Investment holding companies are not required to register for GST as AUM is not a kind of goods nor services.

Outsourcing accounting and bookkeeping offers several benefits for businesses in Singapore. It allows companies to access expert accounting professionals who are well-versed in local regulations and compliance requirements. Outsourcing also helps save time and resources, allowing businesses to focus on core operations. Additionally, outsourcing provides scalability, flexibility, and cost-efficiency, as companies can adjust the level of services based on their needs.

Outsourcing accounting is suitable for businesses of all sizes in Singapore. It can be particularly beneficial for startups and small to medium-sized enterprises (SMEs) that may not have the resources or expertise to handle accounting functions internally. Additionally, companies that want to streamline their operations, reduce costs, or enhance financial reporting accuracy may choose to outsource their accounting tasks.

Understanding the cost of accounting services in Singapore can be complex, as it often depends on various factors such as the scope of services, complexity, and volume of transactions (or monthly revenue). At Piloto Asia, we simplify the cost of accounting services by offering transparent and competitive packages tailored to your business needs.

Starting from just S$249/month for holding companies, our services include Annual Management Reports, Estimated Corporate Income Tax Return (ECI), Unaudited Financial Statement (UFS) and a free XERO subscription. Whether you're looking for basic compliance or comprehensive support with tax optimization advisory, audited financial statements, XBRL filing and GST reporting, we have a package to suit your requirements.

Don't let the cost of accounting services hold you back. Contact us today for a free consultation, and discover how Piloto Asia's professional and 100% IRAS-compliant accounting services can provide value and efficiency to your business.

Outsourcing various accounting tasks to an accounting service provider in Singapore can streamline your business operations. At Piloto Asia, we offer a comprehensive range of accounting tasks that can be outsourced, tailored to meet the unique needs of businesses in Singapore. Our professional and 100% IRAS-compliant services include:

• Bookkeeping: Accurate recording of all financial transactions, including daily matching against transactions.

• Unaudited Financial Statements (UFS): Preparation of UFS to meet regulatory requirements.

• Estimated Chargeable Income (ECI): Calculation and submission of ECI to IRAS.

• Corporate Tax: Calculation and filing of Form C and Form C-S with IRAS, ensuring timely submissions.

• Tax Optimization Advisory: Identifying appropriate tax deductions and ensuring you're paying the right tax.

• Bank Reconciliation: Categorizing and reconciling your bank account transactions.

• GST Filings: Calculating GST and securely filing GST returns online with IRAS.

• Invoice Management: Quick and easy invoicing with saved contacts and a dashboard to reflect invoice statuses.

• Payroll Processing: Ensuring timely and accurate payment to employees.

• XBRL Preparation: Assistance with the preparation and filing of financial statements in XBRL format.

• Audited Financial Statements: Coordination with auditors to prepare audited financial statements as needed.

We understand that every business is unique, and we're committed to providing customized solutions that match your specific requirements. Whether you're a holding company, operating company, or need audited services, our packages are designed to offer flexibility and affordability.

Contact us today for a free consultation, and discover how Piloto Asia's outsourced accounting services can streamline your financial operations and contribute to your business's success.

Choosing the right outsourced accounting service provider in Singapore is crucial for your business's financial success. Here are some key factors to consider:

• Experience: Look for providers with experience in serving businesses similar to yours. At Piloto Asia, we have a track record of working with various industries and company sizes.

• Expertise in Regulations and Compliance: Ensure the provider is well-versed in Singapore's accounting regulations, including 100% IRAS compliance. Piloto Asia's team of professionals is dedicated to staying up-to-date with the latest regulations.

• Range of Services: Consider the provider's range of services, from bookkeeping to tax optimization advisory. Piloto Asia offers a comprehensive suite of services tailored to your needs.

• Technology Infrastructure: Assess the provider's use of modern accounting tools and software. Piloto Asia utilizes advanced technology to streamline processes.

• Reputation and Client Reviews: Research the provider's reputation and client feedback. Piloto Asia prides itself on positive client reviews and a commitment to excellence.

• Personalized Attention and Support: Look for providers that offer personalized support and attention. Piloto Asia's team is dedicated to understanding your unique business needs and providing customized solutions.

It is advisable to schedule consultations or meetings with potential service providers to assess their compatibility with your business needs. Contact us today for a free consultation with Piloto Asia, and discover how our outsourced accounting services can align with your business goals.

Bookkeeping and accounting services are closely related but serve distinct roles in managing your business's finances:

• Bookkeeping: This focuses on the systematic recording and organization of financial transactions. Tasks include data entry, maintaining ledgers, reconciling bank statements, and generating financial reports. It's the foundation of your financial records.

• Accounting: Building on the information provided by bookkeeping, accounting involves interpreting, analyzing, and summarizing financial data. It includes activities such as financial statement preparation (including Unaudited Financial Statements), tax planning, budgeting, and providing strategic insights for business decision-making.

While bookkeeping is a subset of accounting, both services are crucial for maintaining accurate financial records and ensuring compliance with regulatory requirements, such as 100% IRAS compliance.

At Piloto Asia, we offer both bookkeeping and accounting services, tailored to your specific needs. Our professional team ensures seamless integration between these functions, providing you with accurate, timely, and insightful financial information. Whether you need basic bookkeeping support or comprehensive accounting solutions, we're here to assist you.

Contact us today to learn more about how Piloto Asia's bookkeeping and accounting services can support your business's financial success.

Our <a href='https://www.pilotoasia.com/guide/holding-company-singapore'>outsourced accounting services</a> offer a wide array of benefits, especially for investment holding companies. We provide comprehensive management of all your essential accounting functions, freeing you to focus on strategic, revenue-generating activities rather than day-to-day operations. Additionally, we have a deep understanding of the specific tax requirements and regulations associated with running an investment holding company. Therefore, we can offer effective strategies and solutions to reduce your liability under the investment holding company tax regimen. This service is particularly beneficial for international investment holding companies, where there may be different tax laws in various jurisdictions. We ensure you meet all your tax obligations while still capitalising on any tax benefits and exemptions available to you.

Yes, we do. We can help you with all aspects of your corporate tax filing in Singapore, including:

• Preparing your tax returns

• Calculating your taxes

• Filing your taxes on time

• Ensuring that you are compliant with all tax regulations

Piloto Asia offers a comprehensive range of accounting services, including bookkeeping, financial reporting, tax filing, and more. Our services are tailored to meet the unique needs of each client.

Outsourcing your accounting needs to Piloto Asia provides several benefits, including cost savings, access to expert accountants, timely delivery of financial reports, and ensuring 100% compliance with IRAS regulations.

Yes, apart from accounting, we also offer payroll, tax, and secretarial services to provide a holistic solution for businesses.

Our team comprises professional accountants with years of experience in the field. They are well-versed with IRAS regulations and ensure that your business always remains compliant.

At Piloto Asia, we believe in transparency. Our fee structure is clearly outlined on our website, ensuring no hidden costs. We also offer customized packages based on individual business needs.

Compliance with IRAS regulations is crucial to avoid penalties and ensure smooth business operations. At Piloto Asia, we prioritize compliance and stay updated with the latest regulations to provide our clients with accurate and compliant services.

Reputable accounting firms prioritize data security and confidentiality. They employ secure data storage solutions, encrypted communication channels, and strict confidentiality agreements to protect client information.

At Piloto Asia, Singapore's #1 corporate service provider and business source, we hold a firm commitment to adhere to the Singapore Accounting Standards in our outsourced accounting services.

We understand the importance of regulatory compliance, especially in financial matters. Our team of qualified accountants is an expert in applying and understanding Singapore accounting standards when preparing financial statements for your business.

This not only assures that all financial reporting aligns with the requisite standards, but also solidifies the credibility and accountability of your business finances.

The current Singapore corporate tax rate is 17%. At Piloto Asia, we understand that managing corporate taxes can be both complicated and time-consuming. That's why we offer premier outsourced accounting services to handle your financial matters efficiently.

Our team of seasoned professionals stays informed about the latest changes in taxation law and applies this knowledge to ensure you can capitalise on all eligible tax exemptions, deductions, and rebates.

Therefore, while the Singapore corporate tax rate may be a set figure, we strive to ensure your effective corporate tax rate is as low as possible within the framework of the law. This allows you to focus on what you do best - managing and growing your business.

At Piloto Asia, we provide comprehensive support to businesses with GST filing Singapore needs. Recognized as Singapore’s premier Corporate Service Provider, we offer expert outsourced accounting services, encompassing the timely and accurate preparation and submission of your Goods and Services Tax (GST) returns. Our in-house professionals are well-versed in the latest regulations and are equipped to help your business efficiently manage GST filing processes, thereby mitigating any potential legal and financial issues due to inaccuracies or omissions.