Accounting Services

Pricing

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FAQ

Looking to outsource accounting services for your company? Well, we have solutions that might precisely match all your accounting needs. Our services are well-structured, straightforward and performed to the highest standards. We make use of Xero Cloud Accounting Software and incorporate the most recent updates tools to ensure we deliver excellent results to all our clients.

If you are a small and medium enterprise (SME), one man operation or you are looking to save some overhead cost, then it’s time to outsource the bookkeeping services. A company like us can take up all the major tasks relating to company accounts, giving you an opportunity to focus on growing or expanding your business.

You must keep your receipts, sales invoices, suppliers’ invoices and records of other payments and file them in order. For our service, you just need to scan all the documents and upload in our cloud software, or use our mobile app to snapshot all the documents. We can receive the document immediately and perform our work without spending more time on traveling or extra delivery cost for sending to documents to us.

Our Accounting Services

What do you expect from us

  • Record all the accounting entries
  • Monthly bank reconciliation
  • Monthly Management Report including balance sheet and profit and loss statement.
  • Customize balance sheet and profit and loss report based on your need 
  • Profit and loss report by regions, branches or project name.
  • Prepare and GST submission (additional charges is applied)
  • Preparation of compilation financial statements

Pricing

Monthly Fee

Monthly Deliverables:

 

  • Profit and loss statements
  • Balance Sheet
  • General Ledger Listing
  • Account Receivables Detailed Listing
  • Account Payables Detailed Listing
  • Fixed Assets Schedule (if any)
  • Yearly Compilation Financial Statements
  • Quarterly GST Reporting and submission (only with GST Reporting Package)

 

Remarks:
If your account has multi-currency, there is additional $20/month charge from each pricing table.

 

Transactions Fee without
GST Reporting
Fee with
GST Reporting
1 – 10 $100 / month $135 / month
11 – 30 $200 / month $240 / month
31 – 70 $350 / month $400 / month
71 – 100 $450 / month $510 / month
101 – 150 $550 / month $630 / month
151 – 250 $680 / month $780 / month
251 – 400 $850 / month $1,000 / month

Yearly Fee

40 mm file

$500 / pc

75 mm file

$650 / pc

Ad Hoc Charges

Preparation of Compilation Financial Statements*

$500

*for yearly fee package only

Collection of Documents

$30 per round trip

Additional Monthly Schedule

$30 per schedule

Check Out Our Affordable Accounting Packages

You focus on your core business and leave the administrative work to us

Accounting & Payroll Packages

Accounting, Secretary & Tax Packages

F&B Accounting Packages

Sample of Monthly Profit & Loss Report

We can customise the monthly profit and loss report based on region, branches or project name for you. 

Get Quote for Accounting Services

Frequently Asked Questions

What is transaction?

Transaction is counted based on the withdrawal and deposit lines from your bank statements.

How do you charge for yearly accounting services?

We charge $500 for each 40 mm file and $650 for each 75 mm file respectively. If you would like to add on the preparation of the compilation of financial statements, it will be additional $500 (usually price $500-$700 depends on the complexity of the disclosure notes).

For example if you have sales invoices, supplier invoices, cash vouchers and other documents with total of 5 files with the 75 mm file, the fee will be $3,250 ($650 x 5 files). Remember to remove those unnecessary supporting documents which do not help on the bookkeeping to avoid any extra fee to be charged.

Do you come to collect the documents from our office?

We suggest transforming the procedures from traditional hardcopy to online mode. If you need us to collect the documents, there will be an additional charge of $30 per round trip.

How do we start if we would like to engage your service?

If your previous service provider is not using Xero, please provide the latest trial balance, balance sheet, profit and loss and general ledger listing.

We need the detailed listing as follow:

  • Account Receivables detailed listing
  • Account Payables detailed listing
  • Fixed assets detailed listing.

If you are using xero, remove the previous service provider email from the User Access and grant us access as “Adviser” by adding our email address sales@mycloudaccount.com.

We will further explain the steps.

Any extra charge of using your accounting software

If you would like to engage our accounting service, there is no extra charge of using our accounting software. 

Our accounts has inventory account.

Client does best to monitor their inventory list. We do not perform the service with inventory movement for our service. You may check with us about it.

When can I cancel the service?

Give us 1 month notice in advance before you want to terminate the service with us.

What is accounting software that you are using?

Xero, a cloud accounting software. We are certified Xero Adviser too.

How do I pass the documents to you for the bookkeeping?

You can either use your phone to snapshot the supplier/sales invoices by using our mobile app or scan a PDF copy and upload in our cloud software. A quick training for guidance is compulsory.

If you are using Point of Sales (POS) software, you can generate the sales report in excel and send to us via email. We will explain to you the information that we require.

If you are preparing the payroll by yourself, send us the summary report in excel to us including the CPF records.

How do I know whether my company is under the category of "Small Company" (Compilation Financial Statement)

Based on ACRA regulation, if your company is classified as small company, your company is exempted for auditing.

Effective Date
The audit exemption is applicable for financial years beginning on or after 1 July 2015.

Qualification Criteria
A company qualifies as a small company if:

(a) it is a private company in the financial year in question; and

(b) it meets at least 2 of 3 following criteria for immediate past two consecutive financial years:

(i) total annual revenue ≤ $10m;
    (ii) total assets ≤ $10m;
    (iii) no. of employees ≤ 50.

For a company which is part of a group:

(a) the company must qualify as a small company; and

(b) entire group must be a “small group” 

to qualify to the audit exemption.

Do you provide bookkeeping service on site?

No, we do not support service on site. All of our procedures are done at our premises.

Any hidden cost

The prices are explained above including our scope of work. Any additional request may incur additional cost. Please get quote for confirmation.

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Payroll Services

We make sure your company pays salaries on time to your employee and all the payroll is complied to MOM, CPF Board and IRAS Regulation.

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Deadline reminders for annual filing to avoid penalties. Choose your preferred attractive packages with all the standard documents ready for you.

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We handle all your IRAS Tax compliance from Estimate Chargeable Income, Form C/C-S and Dormant Company Submission.

 

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