Singapore Accounting Services for Growing Businesses

From monthly bookkeeping to audit-ready financial statements, Luther Corporate Services delivers accurate, SFRS-compliant accounting support for SMEs, startups, and multinational subsidiaries in Singapore.

What We Handle For You

  • Monthly bookkeeping & data entry
  • Bank reconciliation & accounts reconciliation
  • Management accounts (P&L, Balance Sheet)
  • SFRS-compliant financial statements
  • Accounts payable & receivable management
  • Fixed asset register maintenance
  • Xero, QuickBooks, MYOB, SAP, and Microsoft Dynamics support
  • Audit support & liaison

Why Outsource Accounting to Luther?

Save time, reduce errors, and gain clearer financial visibility with a team of Singapore-qualified accountants managing your books.

Group Reporting Ready

We prepare Singapore subsidiary accounts to formats compatible with your parent's consolidation requirements, whether that is IFRS, US GAAP, or German HGB, alongside SFRS compliance.

Statutory Audit Preparation

We work closely with your appointed statutory auditors, providing reconciled schedules, supporting workpapers, and responding to audit queries so the process is efficient and frictionless.

Management Accounts on Your Terms

Monthly management accounts delivered to your timeline and in your preferred format. We adapt to your chart of accounts and cost centre structure, not the other way around.

Scalable Without Headcount

As your Singapore operations grow, your accounting service scales with you. No need to hire and train finance staff at each stage — we absorb the additional complexity.

Financial Reporting for Singapore Operations Within Global Groups

Singapore subsidiaries and regional entities face a dual obligation: meeting local statutory requirements under SFRS while satisfying parent company reporting formats. Our accounting team navigates both with precision.

  • Singapore Financial Reporting Standards (SFRS) — applied correctly from the outset, not retrospectively corrected at audit
  • Dual-format reporting for subsidiaries that must satisfy both Singapore statutory requirements and parent company Group Consolidation requirements
  • XBRL financial statement tagging and submission to ACRA as required for annual return filings
  • Preparation of supporting schedules, audit packs, and reconciliations that enable statutory audit to proceed efficiently
  • Intercompany transaction accounting and management accounts showing correct treatment of related-party balances
  • Cash flow forecasting and financial analysis delivered alongside management accounts for board and regional reporting
Speak with an Expert
15+
Years of SFRS Reporting Experience
21
Luther Group Offices Worldwide

What's Included in Our Accounting Service

A complete accounting solution covering bookkeeping through to financial reporting for Singapore-registered companies.

Monthly Bookkeeping

Recording all income, expenses, receipts, and payments in your accounting system each month.

Bank Reconciliation

Monthly reconciliation of bank statements against your ledger to identify and resolve any discrepancies.

Management Accounts

Monthly or quarterly profit & loss statements and balance sheets for internal decision-making.

Annual Financial Statements

Full financial statements prepared to SFRS standards, ready for AGM and ACRA filing requirements.

Accounts Payable Management

Processing and tracking vendor invoices, payment scheduling, and supplier reconciliation.

Accounts Receivable Management

Customer invoicing, tracking outstanding receivables, and credit management support.

Fixed Asset Register

Maintaining your fixed asset schedule including depreciation calculations in line with SFRS requirements.

Multi-Currency Accounting

Handling transactions in multiple currencies with proper forex recognition for Singapore companies operating internationally.

Cloud Accounting Platform

Xero, QuickBooks, and MYOB for cloud-based bookkeeping; SAP support and reporting; Microsoft Dynamics NAV and Business Central — or we help you migrate to the platform best suited to your business size.

Statutory Audit Support

Preparation of audit schedules and liaison with your appointed auditors to streamline the audit process.

How We Onboard Your Accounting

A structured transition process that gets your books in order quickly and maintains continuity throughout.

1

Needs Assessment

We review your current accounting setup, chart of accounts, and reporting requirements.

2

Data Migration

We collect historical records, bank statements, and prior-period accounts for migration.

3

System Setup

Chart of accounts configured and opening balances entered in your accounting platform.

4

First Month Close

We process the first month end, share management accounts, and confirm approval with you.

5

Ongoing Reporting

Monthly or quarterly reporting cycle established with your dedicated accountant as your contact.

Frequently Asked Questions

Does my Singapore company need to be audited?
Not all Singapore companies require a statutory audit. Exempt private companies (EPCs) with annual revenue below S$10 million and fewer than 20 shareholders may be exempt. However, if the entity is part of a group, parent company or group requirements may still mandate audited accounts. We can advise on your specific situation.
How do you handle our documents and receipts?
We work with a secure document management portal where you can upload receipts, invoices, and bank statements digitally. For clients who prefer, we can also handle physical documents, though digital workflow is faster and more accurate. All documents are stored securely in compliance with PDPA.
Can you work with my existing accounting software?
Yes, we support Xero, QuickBooks, MYOB, SAP, Microsoft Dynamics NAV and Business Central, and most common cloud accounting platforms. If you're using a different system, please let us know and we'll assess compatibility. For clients without an existing platform, we'll recommend and set up the most suitable solution for your business size.
What is the deadline for filing financial statements in Singapore?
Singapore companies must hold their AGM within 6 months of the financial year end (for listed companies) or within 6 months (for private companies). Financial statements must be filed with ACRA within 7 months of the financial year end. We help you plan and meet all deadlines.
Do you provide accounting for holding companies or SPVs?
Yes, we have experience providing accounting services for Singapore holding companies, special purpose vehicles (SPVs), dormant companies, and subsidiaries of foreign groups. We can also prepare consolidated financial statements for group reporting purposes.
Does Luther support e-invoicing (InvoiceNow) in Singapore?
Yes. Singapore's IMDA-led InvoiceNow network (based on the Peppol standard) is becoming the standard for B2B e-invoicing in Singapore, and IRAS has introduced GST InvoiceNow requirements for GST-registered businesses. We can advise on your e-invoicing obligations, assist with system setup or integration, and ensure your invoicing workflow meets the applicable requirements.

Get Your Books in Order Today

Talk to our accounting team and receive a tailored quote based on your transaction volume and reporting needs.

Speak with an Expert
Luther