There are four packages of bookkeeping depending on your volume level. The level of volume per month is determined by the factor as below. (3 out of 5 factors)
Every company in Singapore is responsible for maintaining its proper bookkeeping and accounting records as per Singapore Company Act. In addition to fulfilling the compliance requirements stipulated by regulatory authorities ACRA and IRAS, it will in turn help companies’ daily business operation.
There are four packages of bookkeeping depending on your volume level. The level of volume per month is determined by the factor as below. (3 out of 5 factors)
Factors | Low Volume | Medium | High |
| Number of sales invoices | 0 – 20 | 20 – 50 | > 50 |
| Turnover | $0 – $50K | $50K – $500K | > $500K |
| Bank Statement Transactions (no of Pages) | 1 | 1 – 3 | > 3 |
| Accounting Transactions** | 0 – 25 | 25 – 100 | > 100 |
| GST Registered Business | Additional $ 50 / Mth | Additonal $100 / Mth | Additional $200 / Mth |
**Accounting transactions refers to every accounting records of the business. Example of accounting transactions are: sales on credit to customer, receive payment from customer, purchase of material, recording the depreciation of a fixed assets.
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