Accounting and Bookkeeping

All Singapore incorporated companies must maintain proper accounting records for a minimum of 5 years as stipulated under Singapore Companies Act. Only an exempt-private company (with a maximum of 20 individual shareholders) or a dormant company is exempted from audit requirements. However, companies under these categories are still required to hold Annual General Meeting (AGM) and file their annual return with ACRA within 6 months from the financial year end. At the AGM, directors shall present a true and fair view of the company’s accounts to their shareholders.

At One Source, we are your accountant; we will assist you with setting up of your accounting system and make sure your records are properly kept. A proper record keeping will ensure accuracies and completeness when performing accounting for filing of accounts and Annual Return to ACRA, IRAS and other relevant government authorities. A good accounting system will also facilitate day-to-day operations and enable you to make informed business decisions which are essential to grow your business.

We provide these accounting and bookkeeping services:

• Setting up computerised and proper accounting systems
• Keeping full sets accounts on monthly, quarterly or yearly basis including:
  • Balance Sheet
  • Profit & Loss Statement
  • Trial Balance
  • Bank Reconciliation
  • Fixed Assets schedule
  • Debtor Ageing List
  • Creditor Ageing List
  • Supporting schedules for compilation or audit report purposes
• Preparation of compilation report for filing of Annual Return to ACRA
• Bank and other account reconciliation
• Liaising with auditors to get your accounts audited
• Perform account-related administrative services

  • Purchases and payments (data entry, maintain vendor files, billing, payment vouchers and cheques)

  • Sales and receipts (data entry, maintain customer files, invoicing and receipt vouchers)