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To outsource accounting in Singapore is to hand your records, statements and filings to a firm. Your company stays legally responsible. The two firm pages we read, Forvis Mazars and Tianlong, list their services and publish no price, so a quote is the only way to learn the cost.
This is an independent guide, not an accounting firm. Requests from the form below go to firms we think suit you. A firm may pay us when you sign, which does not change what we write here.
What do outsourcing firms say they do?
From each firm's page, :
| Firm | Services listed | Price shown |
|---|---|---|
| Tianlong | Bookkeeping and data entry, monthly closing, unaudited financial statements, Singapore FRS work, IRAS compliance including IR8A and GST, ACRA filings and AGM papers, payroll | None. Priced by monthly retainer, per service or as a bundle |
| Forvis Mazars | Accounting and reporting, HR and payroll, tax compliance, corporate secretarial, global compliance and reporting | None |
Forvis Mazars describes its service as flexible and scalable, aimed at firms that expand into new markets. Tianlong states that it prices for small businesses up to larger enterprises. These are the firms' own claims, and we have not tested them.
We also have profiles of Osome, Sleek, Acclime and 3E Accounting, where we record what each publishes.
What stays with you when you outsource?
The legal duty. ACRA says directors must keep proper accounting records, prepare financial statements that give a true and fair view and keep the records at least five years after the end of the financial year in which the transactions were completed. IRAS sets the tax dates: the Estimated Chargeable Income within 3 months of year end, and Form C-S, C-S (Lite) or Form C by 30 November. A firm can do the work. It cannot take the duty.
You also still need to supply the raw material: invoices, bank statements, payroll records. Late papers mean late filings.
What should a quote include?
- The scope, line by line: bookkeeping volume, GST, payroll, tax return, annual return.
- The fee as a fixed monthly or yearly figure, with what counts as extra.
- The price for year two.
- The accounting software used and whether you keep access. See our accounting software guide.
- A named contact and a reply time.
- A handover clause: ledger, reconciliations, working papers and filed returns on exit.
A quote without a written scope is not comparable. Ask all firms to price the same list.
When does outsourcing make sense?
When the books take more of your week than selling does. When you register for GST, because returns are due one month after each period and late filing carries a penalty. When you have staff on payroll and CPF. When your financial year end is near and records are behind.
When it makes less sense: a company with a few transactions a month and an owner who is comfortable with software may do the bookkeeping itself and pay a firm only for the year-end work. Our bookkeeping page and the small business accounting guide cover that split.
Want a few firms to quote? Fill in the quote form and say how many transactions you expect each month.
How do you switch firms without losing data?
Ask the old firm for the ledger, bank reconciliations, working papers and filed returns before you stop paying. Give the new firm read access to your bank feeds and accounting file on the first day. Keep the cut-off at a month end so balances carry over cleanly.
Sources
- Forvis Mazars Singapore: outsourcing: services, no price.
- Tianlong: accounting services: services and pricing models.
- ACRA: company directors' duties: records, financial statements, five-year rule.
- IRAS: guidance on filing Form C-S and Form C: ECI and 30 November dates.
- IRAS: do I need to register for GST: S$1 million threshold.
