Skip to content 
Services
All Your Accounting Needs Under One Digital Umbrella!
Explore our services and take the first step toward streamlining your business. Simply click the options on the right to learn more!
Explore our services and take the first step toward streamlining your business. Simply click the options below to learn more!
Eliminate Paperwork Blues with Outsourced Cloud Accounting and Bookkeeping Solutions in Singapore
Free your business from paperwork burdens & blues with our comprehensive all-in-one cloud accounting services in Singapore. Our dedicated team of accountants is ready to assist in your company’s bookkeeping, incorporations, company secretary, tax compliance & GST needs.
We also specialize in working with businesses for their accounting software needs to ensure seamless integration, data migration, efficient operation, training, support and optimal financial management. Partner with us, and experience the difference in bringing all your accounting needs under one digital umbrella today!
Explore Our Special Offers
Explore limited-time deals crafted to simplify your accounting journey. Enjoy discounts on onboarding, bundled services, and referral rewards—helping you get started with expert support under one umbrella.
FAQs
Getting Started
Signing up with DAP is easy! Simply follow our step-by-step guide here
You can reach out to our friendly accountants, who will always just be a call or message away. You will receive the phone number & email address of the accountant assigned to your project once it starts so that you can reach out anytime of the day & let our Digital Accounting Partners handle your concerns.
We recommend QuickBooks Online & Xero for all your day-to-day accounting, financial analysis and sales invoicing needs. These dynamic software are easy-to-use, provide up-to-date financial reports, & are compliant to Singapore Regulations.
Upon confirming your book-keeping package, you can choose to provide your documents in the following formats:
- Scanning & uploading soft copies of the documents either into your accounting software of your choice, google drive or other storage spaces (preferred)
- Physical delivering of hardcopy documents
- Collection of documents from your office premise / operating address of your choice
- Data Entry can be done over at your operating address (additional charges will apply)
Accounting & Compliance
Maintain your monthly bank and credit card statements, sales invoices, debit and credit notes, vendor bills, receipts, payment vouchers, petty cash records, agreements, and other accounting records throughout the year. It is important to remember that your accounting records need to be retained for 5 years from your Year of Assessment in compliance with IRAS regulations.
Our bookkeeping rates are determined based on the volume of transactions and the complexities involved, such as GST or foreign currency transactions. Contact us to learn more—our friendly sales representatives are ready to answer your questions and provide you with a quote.
In Singapore, your company's financial statements must be audited if it does not qualify as a "small company" under the Companies Act. A small company is defined as a private company that meets at least two of the following criteria for the immediate past two consecutive financial years:
- Total annual revenue ≤ S$10 million
- Total assets ≤ S$10 million
- Number of employees ≤ 50
If your company does not meet the criteria for a small company, its financial statements must be audited.
Dormant companies are exempt from preparing audited financial statements, but they still need to prepare financial statements.
Public companies are required to have their financial statements audited regardless of size.
Ensuring your private company complies with statutory regulations is crucial for smooth operations. Here’s a quick overview of the key annual compliance requirements:
- Estimated Chargeable Income (ECI) - File ECI with IRAS within 3 months after your financial year-end.
- Annual General Meeting (AGM) - Hold your AGM within 6 months after your financial year-end.
- Annual Returns - File annual returns with ACRA within 7 month after your financial year-end.
- Tax Returns - Submit your tax returns (Form C or Form C-S) to IRAS by November 30th of the following year.
- **Continuous Compliance**: Maintain proper records, update company details with ACRA, and ensure ongoing compliance with IRAS regulations.
Staying on top of these deadlines will help your company avoid penalties and ensure regulatory compliance.
Tax & GST
Since January 1, 2008, Singapore’s corporate tax rate has been 17%. Work with Digital Accounting Partners & discover how your company can benefit from the tax exemptions provided by the Inland Revenue Authority of Singapore (IRAS).
Generally, to determine your corporate taxable income in Singapore, follow these steps:
- Calculate Gross Income: Add up all revenue and income earned by your company, including sales revenue, investment income, and other sources of income.
- Deduct Allowable Business Expenses: Subtract all business-related expenses that are allowed by IRAS, such as rent, employee salaries, utilities, and other operational costs.
- Account for Non-taxable Income: Exclude any non-taxable income, such as capital gains that are not subject to tax in Singapore.
- Adjust for Capital Allowances: Deduct any capital allowances for qualifying capital expenditures on fixed assets like machinery and equipment.
- Add Back Non-deductible Expenses: Add back any expenses that are not deductible for tax purposes, such as private expenses or penalties.
- Incorporate Loss Carried Forward: If your company has unutilized losses from previous years, you can offset these against your current year's taxable income, subject to IRAS regulations.
- Determine Chargeable Income: The result after all adjustments, deductions, and allowances is your chargeable income, which is the amount subject to corporate tax
For more detailed overview, refer to IRAS | Calculators
Estimated Chargeable Income (ECI) is the estimated amount of taxable income that a company expects to earn for a particular financial year. In Singapore, all companies are required to file their ECI with the Inland Revenue Authority of Singapore (IRAS) within three months from the end of their financial year.
Filing the ECI allows IRAS to issue the tax assessment and determine the amount of corporate tax payable by the company. It’s important for businesses to file their ECI accurately and on time to avoid penalties and ensure compliance with tax regulations.
If your ECI is negative and your revenue is less than S$5 million, you are not required to file your ECI. However, you will still be required to submit the Form C/ C-S by 30th November every year.
As of January 1, 2024, Singapore's Goods and Services Tax (GST) rate is 9%.
You should register for GST if your annual turnover exceeds $1 million at the end of the calendar year or if you expect your annual turnover to do so within the next 12 months.
Come onboard with the DAP family! We will take care of your quarterly GST preparation and filing, ensuring everything is done on time and in compliance. Enjoy peace of mind and focus on growing your business while we handle the paperwork!
Accounting Software
We utilize Xero and QuickBooks Online for companies without an in-house accounting software. However, if you already have a preferred accounting software, we can seamlessly integrate and use it for all your bookkeeping needs.
Xero and QuickBooks Online are perfect for improved collaboration as well as efficient and accurate bookkeeping, thanks to their robust features, user-friendly interfaces, real-time reporting functions & easy-to-access yet secure cloud integration. They offer online invoicing, purchase orders, quotation functions, as well as inventory and project management capabilities, ensuring streamlined operations and enhanced efficiency.
Yes, we provide account set-up as part of your comprehensive training packages to help you get started and maximize the benefits of these platforms. For more information about the packages, please refer to here
Yes, with any bookkeeping plan, we offer continuous support to ensure that your software processes run smoothly and efficiently. You can choose to contact your accountant in charged via email, phone calls / whatsapp and we will get back to you within 1 working day. We also offer periods of support for our software + training packages.
