Accounting Services

About

In accordance with the Singapore Companies Act, it is mandatory for all companies incorporated in Singapore to maintain proper accounting records for at least 5 years. With a team of dedicated professionals with years of experience, JPS Consultancy is committed to ease the process of running business easier for clients.

 

We specialise in guiding and assisting companies to set up a business accounting system, preparing unaudited financial reports as well as bookkeeping to facilitate smooth business operations. Preparation of financial reports are required for the filing of tax return to IRAS, and will be useful in meeting the requirements for financial loans. If you are looking to eliminate the time-consuming process of self managing and the staff costs for recruitment and training, outsourcing your accounts management may be a solution for your business.

 

Having a skilled accountant to manage your accounts will relieve the management from dealing with regulatory compliance issues. We work closely with our clients and pride ourselves as the Go-To accountant for any matters related to finance, giving our clients a peace of mind and leaving them to focus their time on business and key decision-making matters.

Our accounting services cover:

• preparation of company’s full set of accounts on a monthly, quarterly or yearly basis, including balance sheet, profit and loss statement, cash flow statement and more.
• liase with external auditors for accounts audit
• consolidation and preparation of management accounts
• bank reconciliation and cash book maintenance
• preparation and submission of Estimated Chargeable Income (ECI)

 

Commonly Asked Questions

1. Is it compulsory for the company accounts to be audited and submitted to ACRA?

Companies that satisfy the following requirements are exempted from audit and are recommended to prepare unaudited accounts:

 

For financial years beginning on or after 1 Jul 2015, a new Small Company concept will be introduced for exemption from statutory audit. A company qualifies as a Small Company if:
(a) It is a private company in the financial year in question.
(b) It meets at least 2 of 3 following criteria for immediate past two financial years:
       – Total annual revenue ≤ $10m
       – Total assets ≤ $10m
       – No. of employees ≤ 50.

        Contact us for more information.

 

2. Does your services include setting up and providing us the access to a proper accounting software for our company?

Yes.

 

3. What is your minimum duration to engage accounting services?

The minimum duration to engage our accounting services will be 1 year.