In Singapore’s fast-paced and highly competitive business landscape, maintaining accurate and timely financial records is essential for business growth. For many small businesses and startups, outsourcing accounting functions to professional service providers is a strategic and cost-efficient decision. As outsourcing becomes more common, many business owners find themselves asking:
“How much do accounting service cost in Singapore?”
This blog explores the key factors that affect accounting fees in Singapore, outlines average market rates, and offers practical tips for choosing the right accounting partner. Whether you’re seeking information on bookkeeping prices, accounting fees for small businesses, or monthly accounting packages – this guide covers it all.
Overview of Accounting Services in Singapore:
Accounting services in Singapore range from essential bookkeeping to full-suite offerings that include GST filing, financial reporting and payroll processing. Many providers offer customized packages tailored for SMEs and startups, making high-quality accounting support both affordable and accessible.
Average cost of Accounting Services in Singapore:
Below is a breakdown of typical fees charged for various accounting services:
| Services | Estimated Cost (SGD) | Comments |
| Corporate Tax Filing | $550 – $1150 | Based on annual revenue |
| GST Filing | $120 – $350 | Depends on complexity |
| Financial Reporting | $160 – $300 | Monthly, quarterly or annually |
| Bookkeeping (0-30 transactions) | $110 – $300 | Increases with transaction volume |
| Bookkeeping (31-100 transactions) | $300 – $500 | Suitable for growing SMEs |
| Payroll Processing (per employee) | $10 – $30 | Charged monthly |
| Annual Financial Statement Compilation | $420 – $820 | Based on Company Size |
| Full Monthly Accounting Packages | $250 – $1200+ | Tailored to business needs |
Note: Actual pricing will depend on several factors, including the chosen service provider, the size and structure of your business, annual revenue and the volume of financial transactions.
Factors Affecting Accounting Fees:
Several factors can influence how much you’ll pay for accounting and bookkeeping services in Singapore:
Scope of Services:
A basic bookkeeping plan costs less than comprehensive services that include tax filings, compliance and payroll.
Transaction Volume and Business Size:
Business with fewer than 50 transactions generally incur lower costs than those processing hundreds, due to the time and detail required.
Service Frequency:
Monthly services typically offer more consistency and peace of mind, but quarterly or annual plans may be more budget-friendly for smaller firms.
Use of Accounting Software:
Providers using tools like QuickBooks, Xero or Sage may charge higher setup fees upfront, but these systems reduce long-term costs by improving efficiency.
Business Complexity:
Companies with multiple revenue streams, overseas transactions or group structures may face higher fees due to increased complexity.
Bookkeeping Services Pricing (by Transaction Volume)
| Monthly Transactions | Bookkeeping Services Fees (SGD) |
| 1-30 | $100 – $200 |
| 31-60 | $201 – $300 |
| 61-100 | $301 – $500 |
| 100+ | Custom Pricing |
Some providers offer bundled discounts when bookkeeping is offered with payroll and tax-filing services.
Monthly Accounting Packages for Small Businesses:
Opting for a monthly accounting package is often a cost-effective solution for SMEs and startups. These packages typically include:
- GST filing and returns
- Transactions recording and bank reconciliation
- Monthly management reports
- Payroll processing
- Advisory support
Estimated Cost: $300 to $1000 per month depending on business complexity and transaction volume.
Choosing the Right Accounting Partner
When selecting an accounting firm, consider the following:
- Flexible Packages: Look for providers that can scale with your business growth.
- Transparency: Ensure fees and service scope are clearly defined with no hidden charges.
- SME Experience: Choose firms familiar with Singapore SME’s environment, specifically with tax and compliance matters.
- Cloud Tools: Providers that use digital tools such as Xero, QuickBooks or Sage enable real-time collaboration and easier reporting.
Why Outsourcing Accounting Services is a Smart Move
Outsourcing allows businesses to:
- Ensure Compliance with ACRA and IRAS regulations
- Focus on core business operations
- Save costs on hiring in-house accounting staff
- Improve accuracy and timeliness of financial reports
Get Started with Fast Accounting
Looking for a reliable, experienced and affordable accounting firm in Singapore?
Fast Accounting offers tailored solutions for SMEs and startups in a flexible, friendly environment. Contact us today for free consultation and find out how much you could save by outsourcing your accounting needs.
