Monthly Accounting Services – What Every Business Needs
Comprehensive Monthly Accounting Service for Business Success
Monthly Accounting Services provides businesses with timely, accurate financial information that transforms decision-making and drives growth. Unlike year-end accounting, monthly services deliver real-time insights into your company's financial health, enabling proactive management and strategic planning.
You know what's happening with your business every month after closing. Especially useful for companies operating in a high-change environment or those required to be flexible.
Our professional Monthly Accounting Service ensures your business stays competitive, compliant, and financially optimized throughout the year.
Why Monthly Accounts Preparation is Critical for Business Success
Strategic Financial Visibility
While Singapore law does not mandate monthly accounting preparation, savvy businesses recognize its immense value for operational excellence. That is the reason why “Month-End Closing” is always so popular in the accounting industry.
Most companies wish to know what is going on. Monthly accounts provide crucial real-time financial visibility, allowing businesses to track performance trends, identify opportunities, and address challenges before they become critical.
Enhanced Cash Flow Management
Monthly accounting enables precise cash flow monitoring—the lifeblood of any successful business. By tracking inflows and outflows monthly, companies can forecast cash shortages, prioritize payments, and make informed decisions about capital expenditures and growth investments. Good and timely accounts will give businesses greater predictability of cash flow, reducing excessive financing costs.
Who Benefits Most from Monthly Accounting Service
Small and Medium Enterprises (SMEs)
SMEs, typically sensitive to expense fluctuations, benefit significantly from Monthly Accounting Service as it allows them to uncover discrepancies early and implement corrective measures promptly. Monthly preparation helps SMEs maintain tight budget control, optimize resource allocation, and avoid costly financial surprises that could threaten business continuity.
Small Company Accounting frequency should ideally be kept in pace with their development and growth progression. It is common for small businesses in Singapore to experience a strong growth surge. During this expansionary phase, Monthly SME Accounting services allow businesses to track business expenses, performance, and forecasts firsthand.
Multinational Corporations (MNCs)
MNCs can benefit from outsourced accounting in many ways. MNCs usually have stable and good infrastructure in place, but they face a few key problems. They face a lack of:
-
Expertise and Experience Team to oversee complex and/or specific accounting responsibilities. This may range from a leasing company coping with IFRS 16, a trading company exploring hedge accounting, or an investment holding company looking for consolidation of Financial Statements after a complex amalgamation. MNCs may lack in-house talent to cope with niche accounting topics or seasonal transactions.
-
Cost pressure is what all MNCs face while they maximise shareholders’ returns. Maintaining a local team of AP and AR accountants to cope with voluminous transactions may not be the most cost-effective option. Since the early 2010s, companies with high-volume transactions have been turning to outsourced accounting firms to streamline their operations and remain cost-effective.
-
Continuity and Longevity are interesting but real problems faced by MNCs. Employee turnover, changes in management, mergers, and restructuring may result in certain information within the accounting function being fragmented. Having an outsourced accounting Team enables the firm to be insulated from continuity issues.
Monthly Accounting Process and Strategic Business Deliverables
Comprehensive Monthly Deliverables. Our Monthly Accounting in Singapore process delivers essential financial statements, including:
-
Key Statements (Profit and loss statements, balance sheets, cash flow statements)
-
Bank Reconciliation and General Ledger
-
Aging Report and other AR, AP indicators
-
Customised Management Report that may include, Variance Analysis, Expense Breakdown, Segmented report tailored to business needs
Strategic Decision-Making Tools
Monthly reports transform raw financial data into actionable business intelligence. Businesses receive comparative analysis against previous months, budget variance reports, and trend identification that supports strategic planning and resource optimization. These insights enable management to adjust pricing strategies, control costs, and identify profitable growth opportunities.
Ready to Transform Your Business Financial Management?
Don't wait until year-end to understand your business performance. Our expert Monthly Accounting Service provides the financial clarity you need for confident decision-making. Contact us today to discover how monthly accounting can accelerate your business success.
In-House Accounting vs Professional Outsourcing: The Strategic Choice
Why Businesses Choose Outsourced Monthly Accounting
More Singapore firms are turning to Outsource Accounting Monthly services due to significant cost advantages and enhanced access to expertise. Hiring in-house accounting staff costs SGD 4,000-6,000 monthly, plus CPF contributions, benefits, and infrastructure expenses. In contrast, professional outsourcing delivers superior results at 35-60% lower costs.
Access to Specialized Expertise
Service Accounting for Monthly requirements demands current knowledge of Singapore Financial Reporting Standards, GST regulations, and evolving compliance requirements. Professional accounting firms provide access to qualified ACCA professionals, advanced accounting software, and specialized industry knowledge that individual businesses cannot cost-effectively maintain in-house.
Scalable Solutions for Growing Businesses
Outsourced services offer remarkable flexibility, scaling services up or down based on business needs without the fixed costs of permanent staff. This adaptability is particularly valuable for businesses experiencing seasonal fluctuations or rapid growth phases.
Transparent Pricing for Monthly Accounting Services
Our competitive Monthly Accounting Service pricing starts from SGD 150-600 monthly, depending on transaction volume and complexity. Small businesses with low transaction volumes benefit from packages starting at SGD 150, while medium-volume operations typically require SGD 250-400 monthly. High-volume businesses with complex requirements can expect SGD 600+ monthly for comprehensive monthly accounting services.
Value-Added Services Included
Our Outsourcing Accounting Services include Xero or QuickBooks setup, bank reconciliation, GST preparation & Tax Filing support, and unlimited consultation access. Additional services such as management reporting, variance analysis, and strategic advisory services are available as customized add-ons to meet specific business requirements. Payroll services, HR Advisory, and Business consulting are additional services that can complement your business.
Our Commitment to Excellence
Professional Standards and Technology Integration
We maintain the highest professional standards using cloud-based accounting systems, including Xero and QuickBooks, ensuring real-time access and seamless collaboration. Our qualified chartered accountants stay current with Singapore Financial Reporting Standards SFRS and regulatory changes, providing clients with accurate, compliant financial reporting.
Dedicated Client Support
As partners, our accounting services in Singapore go way beyond just compliance with accounting standards. We have your business operations in mind. Each client receives dedicated account management with unique services. Our commitment extends beyond basic compliance to strategic partnership, supporting your business growth objectives through expert financial guidance.
