Singapore Accounting Services
YYC's accounting team adopts best-of-breed cloud apps in our accounting service to bring your financial reporting to cloud. As a Premier Xero Partner in Singapore, our team is experienced in assisting clients through integrating suitable cloud apps and solutions that works with Xero to meet their business, and accounting needs. (Xero is an accounting software, and the company is listed in the Australian stock exchange.)
For all our clients, we provide our accounting services that processes your bills, and expenses digitally, saving you time, through Xero and its partnering software to capture and check your data. Our aim is to simplify the finances and get you on the right track for growth, with the right tools from our accounting services. Learn more on benefits of outsourcing accounting services here Learn More
Handing your business, accounting, financial reporting, and tax needs to us, allows you and your company to focus on making new sales and bring in new clients and customers. While implementing these cloud solutions for your accounting and business needs, we also have IMDA pre-approved PSG Xero packages allowing our clients to claim up to 50% in grants for migrating to Xero, as a PSG approved vendor. Learn more about PSG Grants here Learn More
The business landscape is changing fast, obtaining your financial and business data will help your business make better decisions. If repetitive task in accounting, and processing financial numbers is not your core capability it is imperative that you find a team that can best serve your accounting and business needs.
Why Outsource your
Accounting & Bookkeeping?
Save Costs
Outsourcing your accounting and bookkeeping can be significantly more cost-effective than hiring an in-house team. According to a recent survey, outsourcing can save businesses up to 60% in overhead costs compared to in-house DIY accounting.
Save Time
Accounting and bookkeeping can be time-consuming tasks that take you away from other important aspects of your business. By outsourcing these tasks to us, you can free up more time to focus on growing your business and serving your customers.
Certified Experts
By outsourcing, you gain access to a team of our Chartered Accountants with expertise in accounting and bookkeeping. They can provide valuable insights and advice to help you manage your finances more efficiently.
Accurate
Our professional accountants and bookkeepers have the training and experience to ensure your financial records are accurate and up-to-date. This can help you avoid costly errors and make more informed business decisions.
Scalable
Outsourcing allows you to scale your accounting and bookkeeping services as your business grows. You don't have to worry about hiring and training new employees or investing in new technology and software.
Reduced Risk
You can reduce the risk of fraud and errors. Our Chartered Accountants and Bookkeepers can help you establish internal controls to prevent fraud and ensure compliance with Singapore's intricate and strict financial regulations.
TOP 5 KEY REASONS FOR CHOOSING US
By outsourcing your accounting to a professional accounting firm, you are effectively hiring a team of experts. Our YYC outsourced accountants are ready to help you. We know the accounting standards, familiar with the latest income tax laws and hands-on with the latest accounting software. We can serve you on time and prepare your financial statements according to your requirements. In a time of recession, having the accurate and updated financial statements are crucial for immediate planning and decision making. Note that financial statements are usually the important documents require by bankers or grant/incentive application to government related agencies.
We are in the era of fast changing business environment, getting real time information to make fast business decision. Cloud accounting is the new trend that enable you to access anytime, anywhere at your convenience.
Better use of time for business owners. As a business owner, outsourcing accounting services will help free up valuable time. Getting bogged down with back-end office administrative and related tasks can be a huge hassle and time-consuming. Your time can be better spent in business strategic planning and growing the business in pursuing new prospects, meeting customers and bringing in new sales. Be assured that by passing the accounting hassle out of your hands to YYC outsourced accountants, you will able to boost the ability of your focus towards the growth of your business.
Perhaps the biggest advantage is that by having a team of experts working on your accounts, the risk of fraud or errors is significantly reduced. We can take away any unnecessary burden of switching to us, making the transfer as seamless and smooth as possible. You can have peace of mind knowing that an experienced team is supporting you.
By engaging your accounting tasks to YYC, you are collaborating with a wide spectrum of experts ranging from professional accountants, cloud accounting, tax consultants and business advisory. We are a group of passionate financial and strategic advisors with a mission to help SMEs and businesses in Malaysia on their growth journey.
Finally, finding the right professional accounting firm to outsource your business’ accounting tasks is more than just preparing financial statements, but also to advise on business strategies and provide immediate updates on regulatory changes that affect your business. Our YYC outsourced accountants have all these qualities and we are ready to support you.
Scope of Services
Frequently Asked Question
How does accounting work?
Accounting is a record of all your business activities, assets and liabilities. Whenever there is income or spending, when you receive or spend money, your bookkeeper records these activities in the books. Your accountant builds reports using these numbers which will form your accounts required by the government to prepare financial statements in accordance to the accounting standards, calculate and submit taxes to IRAS, prepare and file annual returns to ACRA.
What are the accounting standards in Singapore?
Singapore Financial Reporting Standards (SFRS), which is similar to the International Financial Reporting Standards (IFRS), both based on accrual-based accounting where transactions are recognized when they happen, and not when cash is received or paid. Accounts prepared for Singapore companies must comply with SFRS requirements under the Companies Act (Cap. 50). It is the responsibility of the directors to ensure compliance with the Companies Act.
What accounting services do we offer for business owners?
We help businesses in Singapore with a full range of accounting and tax services. This includes outsourced accounting services, daily bookkeeping, preparation of financial statements, preparation of ECI and corporate tax reports and returns, XBRL (full and highlights). In addition, we can help you to apply for GST, and submit regular GST returns for GST-registered companies. If there are special requirements, please contact us our Accountants, who will be glad to assist you.
How should we submit the relevant data for accounting?
Agere is a fully digitalized cloud accounting firm. You can send your documents to us digitally via our mobile app (just take a photo), or email directly to our platform using a unique email address assigned to you – so we will always know that the documents are for your company. You can even provide the email address to your regular suppliers. (No more spending time scouring through emails to compile or forward the invoices to us). Contact us and we will take care of the rest!
Does every company need financial accounting?
Every company requires financial accounting for the purpose of ensuring their company’s financials are up to date for required annual filings complying to the laws of Singapore.
How can accounting service help my business?
Accounting service relieves you from the time and effort required for bookkeeping to ensure your financial records are up to date. In addition, timely accounts allow you to have an overview of your business’ financial position and business metrics that will help you make better business decisions.
What is accounting outsourcing?
Accounting outsourcing is a process of hiring a service provider for the maintenance of your accounts through bookkeeping ensuring the financial transactions of your business is recorded promptly and accurately.
How much does outsourcing bookkeeping cost?
There is varying range in terms of cost for outsourcing bookkeeping, this depends on the time and quality of work the service provider aims to deliver for you. Find out more about our packages here.
What are the benefits of accounting system in company?
What are the benefits to hiring bookkeeping services or outsourcing your accounts?
The main benefit to hiring a bookkeeping service is there is a professional accountant that can oversee your accounting and bookkeeping needs, where they take care of your backend finances ensuring your financial records are timely, accurate and compliant while you as a business owner can focus on revenue generating activities, securing more sales. SMEs usually faces difficulties hiring and retaining good accounting staff. By engaging us as your outsourced accounting firm, we will be assigned to a dedicated accountant who is part of a team. In the event the accountant leaves our firm, a fellow team member will take over your accounts making it a smooth transition.
Talk to us today
Contact Info
60 Paya Lebar Road, #11-19, Paya Lebar Square, Singapore 409051
+65 8893 3960
enquiry@yycadvisors.com.sg