Keep source documents and reconciliations current.
Bookkeeping, annual accounts and IRAS filings
Singapore Accounting and Tax Services
Accounting records should be maintained from the first transaction. The annual work then uses those records to prepare financial statements, ECI and the applicable corporate income tax return.
The service scope depends on transaction volume, record quality, GST status, payroll, foreign transactions and whether prior periods need cleanup.
Scope depends on record quality and transactions.
GST and payroll are assessed separately where relevant.
Service scope
Accounting and tax work are connected
Tax filing relies on complete accounting records. Missing invoices, bank explanations or shareholder transactions should be resolved before filing.
Accounting
- Bookkeeping and transaction classification
- Bank and balance sheet reconciliations
- Year-end schedules and financial statements
- Director, shareholder and related-party balances
Tax filing
- ECI preparation where required
- Corporate tax computation
- Form C-S, Form C-S Lite or Form C support
- GST review and returns where separately engaged
Monthly records
Documents to provide
Income and expenses
- Sales invoices and customer receipts
- Supplier invoices and expense receipts
- Payroll and CPF records
- Contracts and supporting schedules
Bank and company matters
- Complete bank statements
- Loans, capital and shareholder payments
- Fixed assets and financing documents
- Prior accounts and tax notices
Filing calendar
Key deadlines to monitor
| Item | General timing | Preparation point |
|---|---|---|
| ECI | Generally within three months after FYE, subject to exemption rules | Draft accounts and tax adjustments |
| Corporate income tax return | According to the annual IRAS filing deadline | Final accounts, tax computation and supporting schedules |
| GST return | Based on the assigned GST accounting period | Tax invoices, claims, exports and reconciliations |
The exact filing obligation should be checked against the company’s FYE, IRAS notices and current filing status.
Official sources
Rules and filing guidance
FAQ
Questions to settle before engagement
When should a new company start bookkeeping?
From the first transaction. Bank movements, sales, expenses, capital and shareholder payments should be supported and recorded.
Is ECI always required?
Some companies may qualify for an ECI filing waiver. The position should be checked against current IRAS conditions and the company’s revenue and ECI.
What is the difference between Form C-S and Form C?
The applicable return depends on the company’s eligibility and tax matters. The accounts and tax computation should be prepared before choosing the form.
Is GST included in standard accounting work?
Not automatically. GST registration, return preparation and transaction review should be confirmed separately.
Can ProSec fix prior-year records?
Prior-period cleanup can be assessed after reviewing the bank statements, filings, accounts and available supporting documents.
Confirm the documents and service scope first
Send us your company status and available documents. ProSec will explain the relevant scope, fee and next step.