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Reliable Outsourced Accounting Services in Singapore

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Why handle paperwork? Leave the matters under the care of professionals.

Why use outsourced accounting services?

Avoid errors in your books or incurring late filing fees with better accounting

Save hours spent on paperwork

Company owners spent countless hours every month or year rushing through bills and receipts on last minute before filing deadline.

Better Clarity of your Books

Many company owners are not accounting trained and not able to ensure quality work from staffs in this area. Outsourcing to the care of qualified accountants ensure proper allocation of transactions and help paint a clearer picture of the company's position.

Be confident for scrutiny by 3rd party

There will come a time when you need to show financial statement to third-parties or statutory body for various reasons.

Be confident of your numbers when the time comes with outsourced accounting.

Accounting is much more than just for statutory purposes

Business owners feel that using accounting services is not important as they are involved in their business and they can estimate their numbers. 

But here are the important benefits that you are missing out on without proper outsource accounting.

1.  Help to compete and plan for your company

2. Help to pay liabilities (eg creditors, employees)

3. Makes it easier to raise capital, get loan or sell the business

4. Enable tax planning and meet the statutory requirements

5. Makes it easier to distribute profits to shareholders as dividends or for partnerships with profit sharing.

Reliable Outsourced Accounting Service Package

Requirements of our services can be due to :
Prepare full sets of accounts for compliance to statutory requirement (eg GST reporting to IRAS, closing of accounts for fiscal year)
To engage on periodic basis for management reporting
For third party usage such as potential investor, loan application
"Overall, the experience with the staff is good in all services. Keep it up!"
MSV Systems & Services Pte Ltd
Mr Tan Teck Huat, Director
"The team are knowledgeable and friendly. Definitely will recommend them!"
Hupfarri Enterprise Pte Ltd
Irene Chia , Sales manager
"Good service. Very responsive and knowledgeable, especially on the accounting service."
Magnesia Solution Pte Ltd
Ivyne Lee, Director

Service Fee Structure

Less than 50 transactions
S$200
51 to 100 transactions
S$220
101 to 150 transactions
S$350
151-200 transactions
S$480

Other services we provide

Here are the list of services we providing for accounting matters

Preparation of Full Set XBRL Service

From 03 March 2014, Singapore-incorporated companies (unless exempted), which are limited or unlimited by shares and required to file their financial statements with ACRA, are required to file a full set of financial statements in XBRL with ACRA.

XBRL stands for eXtensible Business Reporting Language. This is the language for the electronic communication of business and finance data worldwide.

Consultation on Cloud Accounting Services

We provide consultation, setup and training for Xero and Intuit Quickbooks cloud accounting software.

Cloud accounting is accounting using software accessed over the internet that is hosted remotely on the cloud. All functions are performed off-site and users access the applications remotely through the internet.

Learn more about the benefit of cloud accounting software right in the article below.

What are the benefits of cloud accounting?

In this article, we explore how you can use cloud accounting to make accounting a breeze in your company. 

Service Fee Structure

Active Company XBRL
S$300- S$500
Company with Consolidation XBRL
From S$400
Consultation for cloud accounting
Call for quotation

The Pros of Outsourced Accounting

1. More cost Effective

Hiring an outsourced accounting service is often cheaper and more cost effective than hiring in-house staff to handle the finance function. By outsourcing, you don’t have any attributed overhead costs that hiring an employee would generate

2. Being Proactive

Outsourced accounting team has the advantage of proactivity, where they can spot red flags ahead of time and notify you about expenditures and cash flow, for example. Having trained eyes on your finances at all times can bring considerable peace of mind

The Cons of Outsourced Accounting

1. Hidden Costs

With any paid service, scope creep can happen where one task ends up snowballing into multiple, and it can result in additional costs you weren’t initially aware of (or forgot about). However at FMD, we are very transparent about our pricing structure and what you see is what you get.

2. Less Control

By outsourcing your accounting, there is definitely less ability for you to micro manage your financial reports, you can't just walk to the next table and pull up a number from the finance department. However, you will definitely still get regular updates from us when you use our service.

The Key Difference and advantaged of Outsourced Accounting over BookKeeping

Accounting helps you come up with critical analysis and decisions 

Bookkeeping is only the record of a company's financial transactions systematically while outsourced accounting aids management in making good decisions based on a firms finances.

Accounting starts from accurate transactions of book keeping

Bookkeeping starts from raw data such as receipts and invoices while accounting starts from the clearly sorted and recorded data from bookkeeping.

Accountants require a different type of analytical thinking compared to book keepers

A Bookkeeper should have good knowledge of ledges and journal entries to input the correct transactions and also a detailed thought process while an accountant on the other hand should be able to think out of the box and look at the big picture and balance risks and trade offs to help the company.

Frequently asked questions for our Outsourced Accounting Service

Do I really need it?

What is the different between book-keeping and accounting?

What is a financial plan for the company?

Why engage FMD for outsourced accounting?

Do I need to register GST?

Do I need to file GST if there is no business activity?

What is solvent company?

Get your accounting done by experts today

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FMD group started in 1999 with the goal to provide quality service at fair price to assist SMEs in their journey towards success
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