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Accounting & Book keeping

Home > Our Services in Singapore > Accounting & Book keeping

Accounting & Bookkeeping Services

In Singapore, accurate bookkeeping and financial reporting are not just good business practices but legal requirements under the Companies Act, 1967. Every company incorporated in Singapore must maintain proper accounting records to reflect its financial position, support statutory filings, and ensure compliance with the Accounting and Corporate Regulatory Authority (ACRA) and the Inland Revenue Authority of Singapore (IRAS).

Why Accounting & Bookkeeping is Mandatory

Financial reporting must comply with Singapore Financial Reporting Standards (SFRS), which are aligned with International Financial Reporting Standards (IFRS). Proper bookkeeping ensures transparency, supports audits, and enables informed business decisions.

Law References:
  • Companies Act, 1967 (Section 199) – Mandatory maintenance of accounting records.
  • SFRS / IFRS – Financial reporting standards.
  • Employment Act & CPF Act – Payroll, CPF contributions, and employee compliance.

Benefits of Compliance
  • Ensures accurate financial visibility and control.
  • Builds trust with investors, banks, and auditors.
  • Avoids penalties from ACRA and IRAS.
  • Supports smooth statutory and tax filings.
  • Improves decision-making with real-time financial insights.
Penalties for Non-Compliance
  • Failure to Maintain Records: Fines up to SGD 5,000 and/or imprisonment.
  • CPF Non-Compliance: Penalties, interest, and legal action by CPF Board.
  • Improper Bookkeeping: Risk of audits, tax penalties, and regulatory scrutiny.
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How We Help

At compliance 4 business Solutions Private Limited, we provide:

  • End-to-end outsourced bookkeeping aligned with SFRS standards.
  • Complete payroll management with CPF compliance.
  • Customized management reports for business insights.
  • Setup of cloud accounting systems (Xero, QuickBooks, SAP).
  • Ongoing compliance tracking to avoid ACRA/IRAS penalties.

Our Role – How We Help

At Compliance 4 Business Private Limited, we provide:

Recording and maintaining all financial transactions accurately for compliance and reporting

Managing vendor payments, invoicing, and tracking collections to maintain healthy cash flow.

Maintaining asset registers and applying correct depreciation as per SFRS standards.

Handling salary processing, payslips, and timely CPF submissions in line with statutory requirements.

Preparing financial statements, cash flow reports, and KPI analysis for better decision-making.