Beginner’s Guide to Choosing the Best Accounting Firm in Singapore
More than 400,000 entities have registered with the ACRA. The number of companies in Singapore is at an all-time high, and still more entrepreneurs are eyeing the city-state as their preferred investment destination. With the number of businesses increasing, and every company needing an accountant, it is no wonder that the demand for an accounting firm in Singapore is also at an all-time high.
Accounting is more than just recording and crunching numbers to calculate the profit and loss. It shows the current financial position of a company, but it also helps the executives analyze the market. With effective accounting, you can prepare your business for upcoming trends. Furthermore, accounting is a legal requirement for every registered company in Singapore.
Accounting is important for any type of business, be it an SME or an enterprise. Its need can’t be denied, even if you run a startup or cannot pay to hire the best accountants. If that’s the case for you, you need not fret, as you can hire an accounting firm in Singapore. An accounting firm is a company that offers its accountants to other companies.
Why Do You Need an Accounting Firm?
Before we discuss the best accounting firm in Singapore, you should first know why you should hire an accounting firm. Knowing the benefits of an accounting firm will give you a direction of what you should look for when you hire one. These are the reasons why you need an accounting firm in Singapore:
The first benefit that accounting services offer is cheap accounting. Accountants are some of the most expensive employees in Singapore. When you hire one of them, you can expect to pay a lot of money for their salary and benefits. This isn’t an issue for bigger companies, but for startups and SMEs, it isn’t practical to spend a large chunk of their profit on a single employee.
With an accounting firm, you don’t need to pay for hiring an accountant. Moreover, if your company doesn’t have many accounting requirements, accounting firms can be a great fit. After all, most of them take money for the things they do rather than for a specific time frame. So, hiring an accounting firm in Singapore also means becoming more efficient with your budget planning.
Access to the Best Accounting System
Accounting isn’t only about a degree. It is also about the system; regarding how to conduct the financial calculations and analysis, and also what software to use. In today’s time, not knowing how to use the best technology and procedures can be stun business’ growth. But with an accounting company, you can be sure that your accounting is happening with the latest methodologies and techniques.
Accounting firms use the best accounting software. They will analyze the latest and proven metrics to add and evaluate financial projections. From the perspective of smaller businesses and startups, an accounting firm brings in a system to a company that is almost out of reach from the current level of expertise. So, an accounting company can also give you a lot to learn.
Tax, Legal and Other Advice
Accounting companies these days don’t only limit themselves to accounting services. They also offer other useful assistance like company registration, business and tax advisory, company secretarial services, etc., which will come in handy from the moment you decide to start a business. The accounting firm can give you all the administrative and legal assistance to start and run your company.
You can call the accounting firm to register your company for you. After that, they can help you with the personnel (like resident directors, secretary, etc.) that you need to be able to register your firm. They can also give you legal support and provide company and tax advisory. You can later depend on them to do the auditing for you.
Accounting Firms Assign the Best Accountants to Work for You at a Low-Cost
Not every company has the budget and resources to hire a world-class accountant. Moreover, with the best accountants being so high in demand in Singapore, they mostly work on a freelance basis, helping several firms, rather than accepting a job with a salary. On the other hand, some companies may not have complex accounting requirements, but they need to hire an accountant every now and then. In such cases, giving an employment contract to a person would be impractical and costly.
An Accounting firm in Singapore does all the company’s accounting and bookkeeping. Working with them is cheaper as you don’t need to give an employment contract with the CPF benefits. Furthermore, given that accounting is a competitive business in Singapore, accounting firms have to be highly competent to keep their influence. Thus, when you hire the right firm, you get an idea of how the best accountants do their jobs.
Here are the Top 10 Best Accounting Firm in Singapore
There are many accounting firms in Singapore. We worked with industry experts, and some business owners to discuss the best ones among them.
3E Accounting Pte Ltd
3E Accounting Pte Ltd is a leading accounting firm in Singapore. Our team consists of highly experienced professionals with great expertise to register your company. We are a one-stop solution partner for businesses in Singapore as we provide wide-ranging cost-effective services, including company incorporation, nominee director services, business license application, bank account opening, immigration and work pass application, virtual office support, corporate and individual taxation services, corporate secretarial services, accounting services, human resource support, auditing services, business advisory, IT and design service, legal service, software sales and development. 3E Accounting guarantees excellent service to every client as we promise to serve with the 3Es: Efficiency, Effectiveness and Economy to all our clients.
|Price Range:||Bookkeeping Services in Singapore (Free AGM) – from $600|
|Company Name:||3E Accounting Pte Ltd|
|Address:||51 Goldhill Plaza #07-10/11, Singapore 308900|
|Phone Number:||+65 6690 9262|
|Operating Hours:||Monday to Friday – 9am to 6pm|
|Key Service(s):||Singapore company structuring and incorporation services, tax management, legal advice, accounting and bookkeeping services, marketing, business registration, offshore company formation, licensing application, immigration, administration, compliance and business advisory support|
Highlights About the Company
Greatest expertise to serve beyond excellence
3E Accounting members belong to organisations such as the Association of Chartered Certified Accountants (ACCA), the Institute of Singapore Chartered Accountants (ISCA) and the Singapore Institute of Accredited Tax Professionals (SIATP). 3E Accounting has professionals with great expertise who are capable of providing exceptional services to our clients.
Most comprehensive and responsive services
3E Accounting is the first SME accounting firm in Singapore and the region to adopt robotics technology and revolutionise the Accounting and Professional Services Industries. By adapting to the emerging robotics technology, we innovate robots that save 90% of time spent on tasks and increase 3E Accounting’s productivity and efficiency to serve our clients beyond excellence. We have garnered numerous positive reviews from our satisfied customers as we provide the most comprehensive, responsive and fast service in Singapore.
Cost-saving one-stop solution for your business
For cost-conscious companies seeking to register new company corporation in Singapore, 3E Accounting is the one-stop solution for all corporate formation needs. We offer comprehensive accounting-related services that meet the highest standards for professionalism, timeliness and value. Our company provides unsurpassed expertise in all aspects of corporate formation, including accounting, taxation, secretarial, marketing.
3E Accounting has won numerous outstanding awards and gained recognition in the industry. 3E Accounting is led by accredited and experienced professionals. We are an ACRA Approved Corporate Service Provider, ACCA Approved Employer, ATO approved firm to train Chartered Accountant of Singapore under Singapore Qualification Programme (Singapore QP) by the Singapore Accountancy Commission “SAC”, and more. 3E Accounting has also won many awards, such as TAFEP Exemplary Employer Award 2016 and Singapore’s Best Home-grown Global Accounting Network Award.
Ackenting Group PAC
SOAS Holdings Pte Ltd
OneStop Professional Services Pte Ltd
Accounting Consultancy Pte Ltd
SME Accounting and Tax Sevices Pte Ltd
Athel Accounting Pte Ltd
Nice Management & Business Consultants
Intime Accounting Pte Ltd
End of List on the Top 10 Best Accounting Firm in Singapore
Singapore Brand Assistance
Need help on finding the right accounting firm to assist in your company operation? Reach out to us by letting us understand your requirement and Singapore Brand refer you to the right provider in Singapore to discuss further your needs.
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