5 Best Accounting Services in Singapore in 2025

Accounting is a foundational business function for companies of all sizes, and startups and small and medium enterprises (SMEs) in Singapore especially need to do accurate accounting. Proper bookkeeping, financial reporting, payroll, tax compliance, and advisory services provide entrepreneurs and business owners with data-driven insights into their company's performance and financial health. 

Outsourced accounting is an advantageous solution that provides startups and SMEs access to financial expertise, improved efficiency, technology, and insights to inform smart business decisions. 

This article explores the benefits of outsourced accounting in-depth, profiles prominent accounting companies in Singapore catering to startups and SMEs, and provides closing thoughts on choosing the right accounting partner.

Handling accounting functions in-house requires substantial financial investment and human resources. Maintaining internal accounting teams can be an unnecessary cost and distraction for startups and SMEs focused on business survival and growth.

Moreover, hiring someone will require you to comply with the Singapore Employment Act, which might cost you additional resources. Outsourcing to an experienced accounting partner provides the following key benefits.

Access to Accounting Expertise and Experience

Accounting is a complex discipline requiring knowledge of bookkeeping, financial reporting standards, tax regulations from IRAS, payroll guidelines, and auditing processes. Startups and SMEs often lack expertise in these areas. Accounting firms employ qualified accountants like Certified Public Accountants (CPAs) and Chartered Accountants (CAs), who specialise in accounting for small businesses. Their expertise ensures transactions and reports adhere to required standards. Outsourced partners also bring experience working with diverse industries and business structures. They understand the accounting needs of growing startups and small teams.

Significant Cost Savings

Hiring skilled in-house accountants is expensive when considering salary, benefits, training, and professional development. As startups and new businesses have limited resources, outsourced services are more cost-effective and can direct more resources to other business needs. Affordable packages allow access to accountants without the overhead costs of employees. Fees are also tax deductible. As businesses evolve, outsourced services quickly scale up or down to match needs and budgets.

Access to Advanced Accounting Technology

Maintaining accounting systems requires investing in accounting software, tools, infrastructure, and security. Startups often cannot match the technologies used by accounting firms. 

Outsourced accounting services utilise cloud-based platforms, automation, data integrations, and analytics to store accounting records that are more robust and secure than what early-stage businesses could implement independently. Advanced technologies improve record accuracy, analysis, and service delivery.

Compliance with Regulations and Standards

Regulations like the Accounting Standards Act [1] and Standards of Professional Conduct [2] govern Singapore's accounting. Partners ensure clients comply with these standards and guidelines for taxation, payroll, audits, and financial reporting. 

Their expertise prevents non-compliance penalties or issues that could impact funding and growth. Outsourced accounting provides ongoing guidance on required policies and procedural changes.

Data-driven Financial Insights and Advisory

Beyond bookkeeping, outsourced professional accounting services analyse financial statements, financial records, KPIs, performance metrics, and data to provide actionable business insights. Their objective perspective identifies issues and opportunities related to profitability, cash flow, cost reduction, financial planning, growth projection, tax planning, and more. Partners act as strategic advisors to inform both short-term decisions and long-term strategies.

Singapore is home to many accounting firms; however, identifying partners with relevant experience and expertise in early-stage business accounting can be challenging. The firms below have proven specialisations serving startups and SMEs:

ContactOne Consulting provides integrated accounting, tax, payroll, and advisory services tailored to your needs. Key solutions include:

• Outsourced Accounting – Full bookkeeping services with regulatory compliance.
• Tax Compliance – Corporate tax filing, GST registration, and tax advisory.
• Payroll Management – Salary processing, CPF contributions, IR8A issuance, leave tracking.
• Auditing – Assessing financial processes, internal controls, and data accuracy.
• Funding Advisory – Investment collaterals, financial modelling, and due diligence support.
• Website: https://contactone.com.sg/services/accounting-and-tax/
• Address: 1 Coleman Street, #10-06 The Adelphi Singapore 179803
• Phone: +65 6333 0633

Email: enquiries@contactone.com.sg

Pros:

• Integrated accounting, tax, payroll, and advisory services.
• Strong auditing support for compliance and internal financial checks.
• Customisable solutions for businesses of various sizes.
• A well-established firm with a good industry reputation.

Cons:

• Some services might be more suitable for mid-sized businesses than early-stage startups.
• Response time may vary during peak periods.

3E Accounting provides integrated accounting, tax, payroll, and advisory services. Solutions include:

• Bookkeeping and Accounting – Transaction processing, reconciliation, ledgers, and accrual basis statements.
• Tax Compliance – Corporate tax filing, GST registration, tax incentives planning.
• Payroll – CPF contributions, IR8A reporting, leave management.
• Fundraising Support – Compiling and preparing financial statements, insight reporting, and due diligence.
• Compliance Advisory – Accounting standards, tax codes, corporate law guidance.
• Website: https://www.3ecpa.com.sg/
• Address: 51 Goldhill Plaza #07-10/11 Singapore 308900
• Phone: +65 6690 9262
• Email: info@3ecpa.com.sg

Pros:

• A well-established accounting firm with a strong track record.
• Comprehensive bookkeeping and financial reporting services.
• Affordable packages are suitable for startups and SMEs.
• Compliance-focused services, reducing regulatory risks.

Cons:

• It may not be as tech-driven as some competitors offering cloud-based solutions.
• Some customers report longer processing times for complex financial matters.

Timcole provides technology-enabled accounting, corporate secretarial, tax, and advisory services tailored for you. Services include:

• Cloud Accounting – Automated data collection real-time reporting.
• Corporate Secretarial – Business structure advisory, compliance, restructuring, AGM.
• Tax Compliance – Corporate tax filing, GST registration, tax incentive claims.
• Payroll – Integrated payroll processing, leave management, IR8A submissions.
• Funding Advisory – Financial modelling, investor introductions.
• Analytics – Performance dashboards, financial projections.
• Website: https://timcole.com.sg/
• Address: 111 North Bridge Road, Peninsula Plaza #20-04, Singapore 179098
• Phone: +65 9852 6881 or +65 6631 9892
• Email: enquiry@timcole.com.sg

Pros:

• Cloud-based accounting for real-time financial tracking.
• Strong corporate secretarial services for compliance and restructuring.
• Offers funding advisory and investor support.
• Automated payroll and tax reminders help businesses stay compliant.

Cons:

• Pricing may be higher than traditional accounting firms.
• Cloud-based solutions may require a learning curve for some businesses.

Koh Management & Accounting Services provides affordable accounting, tax, compliance, and advisory solutions tailored for startups and SMEs. Their core expertise includes:

• Bookkeeping & Financial Reporting: Timely and accurate accounting records, cash flow analysis, and financial statements.
• Payroll Management: Salary processing, CPF contributions, and leave tracking.
• Tax Compliance: Corporate tax filing, GST registration, and tax advisory.
• Audit Support: Assistance with financial audits and internal controls.
• Budgeting & Forecasting: Financial planning, scenario analysis, and business growth insights.
• Website: https://www.shkoh.com.sg/
• Address: 7500A Beach Road, The Plaza, #09-324 Singapore 199591
• Phone: +65 6256 9663
• Email: tommyksh@skkoh.com.sg

Pros:

• Budget-friendly accounting and tax solutions.
• Personalised service with direct access to experienced accountants.
• Strong expertise in financial planning and budgeting.
• It is good for startups needing hands-on financial guidance.

Cons:

• Limited automation and cloud accounting options.
• It may not provide as many corporate secretarial or legal compliance services as larger firms.

Ace Financial Accounting offers comprehensive accounting and compliance solutions for startups and SMEs in Singapore. Their services include:

• Bookkeeping & Financial Statements: Accurate financial records and compliance with Singapore Financial Reporting Standards (SFRS).
• Corporate Tax Services: Estimated Chargeable Income (ECI) filing, tax computation, and Form C/C-S submission.
• Payroll & HR Solutions: CPF contributions, salary processing, and employee tax submissions.
• GST Services: Registration, quarterly filing, and advisory on GST regulations.
• Business Advisory: Financial planning, cash flow management, and growth strategies.
• Website: https://www.acefinancial.com.sg/services/accounting-services-singapore/
• Address: International Plaza, 10 Anson Road, #33-03, Singapore 079903
• Phone: +65 6909 5161
• Email: info@acefinancial.com.sg

Pros:

• Specialises in startups and SMEs with tailored accounting solutions.
• Comprehensive tax and GST services to ensure compliance.
• Strong business advisory services for financial planning and growth.
• Experienced team with deep knowledge of Singapore’s tax and corporate regulations.

Cons:

• Limited automation and cloud-based solutions compared to some competitors.
• It may not be the most budget-friendly option for early-stage startups.

Selecting the right accounting firm is crucial because financial management directly impacts business growth, compliance, and efficiency. 

Here are the key factors to consider when evaluating accounting firms in Singapore:

Relevant Experience & Industry Expertise

Choose a firm with a proven track record in handling accounting and compliance matters. Look for industry-specific expertise, as different sectors have unique financial regulations and tax structures. Verify their ability to handle financial reporting and audits and ensure compliance with the Accounting and Corporate Regulatory Authority (ACRA) and Inland Revenue Authority of Singapore (IRAS).

Comprehensive Service Offerings

A good accounting firm should provide a full range of services beyond basic bookkeeping, including:

• Tax filing & GST compliance – Ensures your business stays tax-efficient and meets regulatory deadlines.
• Payroll management – Helps with salary disbursement, CPF contributions, and employee tax obligations.
• Corporate secretarial services – Assists with company incorporation, annual filings, and compliance with statutory requirements.
• Financial advisory & business consulting – Supports financial planning, budgeting, and growth strategies.

Technology & Cloud-Based Solutions

Cloud accounting platforms like Xero, QuickBooks, and Sage provide real-time financial tracking and automation. Automated invoicing, expense tracking, and integration with other business software improve efficiency. Ensure the firm provides digital solutions that allow remote access to financial data and easy collaboration.

Transparent & Flexible Pricing

Compare pricing structures – flat-fee packages often provide better cost predictability than hourly billing. Be wary of hidden fees for additional services like tax filing, compliance reporting, or consultancy. Choose a firm that offers scalability, allowing you to upgrade services as your business grows.

Strong Industry Network & Business Support

Some accounting firms partner with legal firms, investors, banks, and funding agencies. Access to these networks can be beneficial for securing business loans, grants, or venture capital funding. A firm that offers business incorporation assistance and compliance guidance can help new startups navigate the regulatory landscape more easily.

By carefully evaluating these factors, you can find an accounting firm that meets your compliance needs and contributes to your long-term financial growth and success.

Accounting firms enable you to access financial expertise, technology, and strategic insights while focusing on business growth. Choosing the right accounting partner ensures compliance, cost efficiency, and financial clarity, supporting long-term success.