Looking for accounting & bookkeeping services in Singapore? At Chartsworth, we are a Chartered Accountancy Practice that is passionate in helping your business thrive. Accounting is our passion, but probably not yours. By outsourcing your accounting, we take over the admin routine and enable you to focus on growing your business and moving it on to the next stage of growth.
You took the leap of faith and started a business. You love what you are doing but month after month, you find yourself spending too much time handling your financial records, getting lost in the details and not having enough time on your business.
Outsource your accounting & bookkeeping function to us today so that you can free up your time to focus on what you do best, your business.
The business environment is constantly evolving and we use technology to move forward with your business. We offer cloud accounting & bookkeeping services which is essentially a virtual office giving you the flexibility and real-time access to your financial information at your fingertips, on any digital device, wherever you are, without the hassle of purchasing and maintaining expensive systems and equipment. That’s what makes us different from other accounting companies in Singapore.
Accounting & bookkeeping is an essential but time-consuming aspect for every business in Singapore. Doing your own accounting can take up to 12 hours every month (or more). Free up your precious time and leave the accounting to us.
Your accounts are handled by our professional accountants with extended knowledge and experience. By engaging a trusted accounting & bookkeeping services company, you enjoy lower business cost compared to hiring a full-time in-house accountant.
Don’t look back at the end of the financial year and wonder how your business performed. We close your books every month, so you have accurate numbers and detailed reports to make timely business decisions.
Whether you are a start-up or switching your accounting & bookkeeping service provider to Chartsworth, our dedicated expert will be here to assist. We get you onboarded, understand your business, and gather everything we need on your finances.
Say goodbye to paper documents. Snap a phone picture or drag and drop your files onto our online platform anytime. We will organise the documents from there and work on your books. Our expert team is assisted by powerful software and the process is reliable.
Each month, we deliver a detailed report containing your profit and loss statement, balance sheet, general ledger, account receivables and payables summary, fixed asset schedules etc. You can easily track business health and run your business with a clear picture of the numbers.
Our accounting doesn’t stop at monthly financial reporting. We cover compilation of annual financial statements, tax preparation and annual returns filing with ACRA. We keep track of filing deadlines so you don’t have to.
Choose a package that suits your needs
We offer the following service to meet your specific business needs.
Get in touch with us if you need a customized solution
When your company needs to present financial statement of the parent and subsidiary as a single entity
When your company needs to reconstruct financial records for audit or tax purposes.
We help entrepreneurs, small businesses and medium-sized firms with all accounting services for their business needs. Depending on the plan you pick, we handle the accounting transactions at the end of every month or year, prepare management reports for your business decision-making, and compile financial statements for statutory filing purposes in Singapore.
Our accounting packages for SME businesses and more are based on an annual subscription model according to the Financial Year. We offer transparent pricing determined by the number of transactions in a month. No hidden cost!
A transaction refers to an accounting journal entry passed to record a business transaction – sale, purchase, receipt, payment etc. It includes:
An expense refers to a cost incurred in the business to generate revenue. The total expenses are netted off from revenue to arrive at the net profit. It includes, but not limited to, the following:
We use Xero, an online accounting software made for small and medium businesses. Xero is a cloud-based software so you can access your up-to-date financial information wherever you are and make timely business decisions.
We are a certified Xero advisor and a Xero partner. With our modern, fast-paced society, every industry evolves and so should accounting firms. Here at Chartsworth, we recognise the need for businesses to adopt technology, by moving away from traditional accounting which involves large amounts of paperwork to cloud-based solutions to enhance efficiency. To affirm our commitment to be your trusted business partner in Singapore, we provide free xero software subscriptions to clients that take up our monthly accounting packages.
Depending on the scale of your business operation, you may or may not need an in-house accountant or a full-fledged finance team. By engaging Chartsworth as your accounting services provider in Singapore, our team of qualified accountants can handle your accounting for a fixed fee every month. Our rates are affordable as we are using fintech solutions and AI to automate our processes.
By outsourcing the essential but time-consuming accounting tasks, you would benefit from lower cost for your business, and your staff could better use their time to focus on high-value work such as analysing reports and core business growth activities.
XBRL stands for eXtensible Business Reporting Language. It is a format implemented internationally for financial reporting, which gives greater transparency as data can be analysed almost immediately with software tools.
Currently all companies incorporated in Singapore are required to file annual financial statements with ACRA in the XBRL format as part of the Annual Return filing, except for companies that meet the exemption criteria i.e. exempt private companies (EPC) that are solvent, companies limited by guarantee etc.
Companies are required to apply the revised filing requirements with effect from 1 May 2021. For private limited companies that meet the definition of smaller and non-publicly accountable companies, you may file the financial statements in Simplified XBRL template instead of the Full XBRL template.
A smaller company refers to a company with revenue not more than S$500,000 and total assets not more than S$500,000 in the Financial Year covered by the financial statements. A non-publicly accountable company refers to a company that is not listed or in the process of listing on securities exchange in Singapore, not listed on an exchange outside of Singapore and not a financial institutions.
There are two scenarios where a company would register for GST: