Accounting | Ascentium Singapore

Compliance Without the Overhead

Every IRAS and ACRA deadline is managed accurately by a team that does this every day without the cost of a full in-house finance function.

Real-Time Financial Visibility

Xero integration gives management accurate, up-to-date financial data not month-old figures reconstructed at year end.

Scalable Without Rebuilding

As your business grows, your accounting service scales with it from startup bookkeeping through to full statutory reporting without changing providers or starting over.

One Team Across the Full Function

Bookkeeping, GST, payroll, financial statements, and audit liaison managed by the same team, with a single point of accountability.

Our Accounting and Financial Compliance Process

Timelines depend on record readiness, transaction volume, reporting scope, and statutory filing deadlines.

Scope and Records Review

We review your accounting needs, filing obligations, existing records, and reporting timelines to confirm the right level of support.

Accounting Setup and Data Collection

We align your chart of accounts, collect source documents, and gather bank, sales, purchase, payroll, and GST-related records where applicable.

Bookkeeping and Reconciliations

We post transactions, reconcile bank balances, review exceptions, and maintain accurate accounting records in line with Singapore requirements.

Reporting and Financial Statements

We prepare periodic management accounts or year-end financial statements based on the agreed scope and reporting requirements.

GST and Statutory Filing Support

We support GST submissions, XBRL preparation, BizFinx filing, ACRA annual return inputs, and related compliance documentation where required.

Review and Ongoing Advisory

We review key outputs with you and provide practical guidance for accounting, reporting, and compliance matters as your business grows.

You work with a named team that understands your business, managing your books, handling compliance deadlines, and giving you accurate financial information when you need it.

We set up and run Xero for your business: migration, training, and ongoing support included. Your accounting system works the way your business does, not the other way around.

From GST registration and quarterly filings to audit liaison and XBRL submissions, we manage every IRAS and ACRA obligation accurately and on time.

Starting out or scaling up, our service grows with your business without you having to rebuild your accounting setup or change providers.

Make Accounting One Less Thing to Manage

From bookkeeping to GST and statutory reporting, we keep your records accurate, compliant, and audit-ready.

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Transfer Pricing

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Taxation

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Under SFRS and IRAS requirements, Singapore companies must maintain a profit and loss account, balance sheet, cash flow statement, and equity statement. Supporting documents such as receipts, invoices, bank statements etc. must be kept for a minimum of five years. We manage all record maintenance as part of our standard accounting service.

GST registration is mandatory when a company's taxable turnover exceeds or is expected to exceed S$1 million within a 12-month period. Voluntary registration is also available for businesses below the threshold. Once registered, quarterly GST returns must be filed via IRAS's myTax Portal. We advise on registration timing and manage all filings.

XBRL (Extensible Business Reporting Language) is the format required by ACRA for financial statement submissions via the BizFinx portal. Most Singapore-incorporated companies are required to file in XBRL format. We prepare and submit XBRL financial statements as part of our statutory reporting service.

Bookkeeping is the day-to-day recording and categorisation of financial transactions such as invoices, receipts, bank entries. Accounting encompasses bookkeeping but also includes financial analysis, financial statement preparation, GST compliance, statutory reporting, and strategic financial management. We provide both as part of a single, integrated service.

Yes. For startups and SMEs, outsourcing removes the cost and complexity of building an in-house finance function from scratch. For larger businesses and MNCs, it provides a full-service accounting team that manages everything from daily transactions to statutory financial statements and audit liaison — without the overhead of a full internal team.

We implement and manage Xero as our primary accounting platform which is a cloud-based system that provides real-time financial visibility, integrates with payroll and banking, and is well-suited to Singapore businesses of all sizes. We handle implementation, data migration, and staff training as part of our onboarding process.

Accounting Services in Singapore

Why Singapore Businesses Outsource Accounting

Compliance Without the Overhead

Real-Time Financial Visibility

Scalable Without Rebuilding

One Team Across the Full Function

Compliance Without the Overhead

Real-Time Financial Visibility

Scalable Without Rebuilding

One Team Across the Full Function

Our Accounting and Financial Compliance Process

Scope and Records Review

Accounting Setup and Data Collection

Bookkeeping and Reconciliations

Reporting and Financial Statements

GST and Statutory Filing Support

Review and Ongoing Advisory

What Our Accounting Services Cover

Bookkeeping and Financial Reporting

GST Services

Financial Statements and Statutory Reporting

Accounting System Setup

Business Support Services

Why Choose Ascentium?

A Dedicated Accounting Team

Xero Implementation and Support

GST and IRAS- We're On It

Scales With You

Make Accounting One Less Thing to Manage

Related Accounting & Tax Services in Singapore

Transfer Pricing

Taxation

What Our Clients Are Saying

Frequently Asked Questions (FAQs)

What accounting records must Singapore companies maintain?

When does a Singapore company need to register for GST?

What is XBRL and does it apply to my company?

What is the difference between accounting and bookkeeping?

Does outsourcing accounting work for both startups and larger companies?

What accounting software do you use?

Insights & Resources

Rxilient Health Pte Ltd.

Aston Food & Beverage Specialties Private Limited

Speak to a Singapore Accounting Specialist