How Much Do Accounting Services Cost in Singapore?
Finding the right accounting services for your Singapore small business involves understanding both costs and value. While prices typically range from S$90 to S$1,500 monthly, what truly matters is finding the right accounting partner who understands your unique business needs.
Our Accounting Services Prices
At Counto, we provide transparent pricing that scales with your business needs. Unlike other accounting services, we do not charge by the number of transactions in your bank account.Â
Accounting Services
Annual Revenue | Annual Accounting Plan | Monthly Accounting Plan |
---|---|---|
< $50,000 | $950/year | $125/mo |
< $100,000 | $1275/year | $150/mo |
< 250,000 | $1575/year | $175/mo |
< $500,000 | $1800/year | $200/mo |
< $750,000 | $2200/year | $225/mo |
< $1,000,000 | $2600/year | $275/mo |
< $1,500,000 | $4400/year | $450/mo |
What Determines Accounting Service Pricing in Singapore?
Several key factors influence how accounting services are priced:
1. Business Volume and Complexity
More complex business operations with higher transaction volumes naturally require more accounting work. Some traditional firms charge directly based on the number of transactions, which can become expensive as your business grows.
2. Industry-Specific Requirements
Businesses in specialised industries often face additional regulatory requirements that may increase accounting costs due to specialised expertise needed.
3. Technology Integration
Modern accounting leverages technology to improve efficiency. Accounting providers using advanced platforms can often deliver better service at competitive rates through automation of routine tasks.
4. Reporting frequency
Monthly, quarterly, or annual reporting affects pricing.
Breakdown of Accounting Services and Fees
The depth of services you need significantly impacts pricing:
1. Bookkeeping and Financial Reporting
Bookkeeping costs depend on factors like transaction volume and reporting frequency. Small businesses with minimal transactions can expect fees starting from S$90 per month, while businesses with high transaction volumes or complex financial reporting may require more comprehensive services costing S$300 to S$800 per month. Common bookkeeping services include:
- Recording daily financial transactions
- Bank reconciliations
- Generating financial statements such as profit and loss reports
- Ensuring accurate expense tracking
2. Tax Preparation ServiceÂ
Corporate tax services typically cost between S$400 and S$2,000 per year, depending on business structure, revenue, and compliance requirements. Timely tax filing ensures compliance with the Inland Revenue Authority of Singapore (IRAS) and helps businesses avoid penalties.
3. Full-Service Accounting Packages
For businesses requiring end-to-end accounting services, full-service packages can range from S$250 to S$1,500 per month, depending on the complexity of financial management required. These packages typically include:
- Bookkeeping and transaction recording
- Financial statement preparation
- Tax computation and filing
- Payroll processing
- GST filing (if applicable)
These packages are ideal for business owners who want to focus on growth instead of financial administration.
4. Financial Statement Preparation
Most businesses in Singapore require unaudited financial statements annually to comply with government regulations. Fees for this service generally range from S$250 to S$800 per year, depending on the complexity of financial data and reporting requirements. Having up-to-date financial statements is crucial for tax filing, securing loans, and making informed business decisions.
5. Payroll Services
Many small businesses outsource payroll services to ensure employees are paid correctly and on time. The cost typically ranges from S$15 to S$40 per employee per month, with some firms charging a base fee plus a per-employee rate. These services include:
- Salary processing
- CPF contributions and deductions
- Leave and benefits administration
​​✅ Move away from accounting services that surprise you with unexpected fees. We focus on your savings and efficiency. Our expert team efficiently manages everything from multicurrency accounting and unlimited transactions, to tax filing. Explore our all-in-one accounting plans here.Â
Beyond the Price Tag: What Small Business Owners Should Consider
While budgeting for outsourced accounting services is important, making decisions based solely on price often proves costly long-term. Consider these value factors:
1. Expertise and Specialisation
Accountants with experience in your specific industry bring valuable insights that can help optimise your financial strategy and compliance approach.
2. Growth Support
As your business grows, your accounting needs become more complex. Look for services that can scale with you without requiring you to switch providers.
3. Technology and Accessibility
Modern accounting solutions offer real-time financial visibility, automated compliance alerts, and digital document management that traditional services can’t match.
4. Dedicated Team Access
Direct communication with your accounting professionals creates accountability and personalised service. Look for providers offering both a dedicated accounting and tax team, plus convenient access to your account manager.
For example, Counto clients work with a consistent team of specialists while enjoying direct WhatsApp or phone access to their dedicated Customer Success Manager—eliminating the frustration of support tickets and ensuring your questions receive prompt, informed responses from someone familiar with your business.
Key Questions to Ask a Potential Accounting Service Provider
Before making your decision, ask during your initial meeting:
- How is your pricing structured? Will it change as my business grows?
- What technology do you use to streamline processes and reduce costs?
- How will you help me understand my financial position beyond basic compliance?
- What specific experience do you have with businesses in my industry?
- How accessible will my financial information be to me?
- Is tax filing bundled into my accounting plan and how experienced is your tax team?
- Will I have a dedicated account manager I can reach out to directly with questions or concerns?
- What is your process for transitioning clients who decide to change providers? Can I easily obtain my financial data and records if our relationship ends?
Summary
The real cost of accounting isn’t just the fee—it’s the time saved, risks avoided, and opportunities gained. The right provider goes beyond bookkeeping, offering expertise, technology, and proactive insights to fuel your business growth. Choose a partner that aligns with your goals, not just your budget.
Upgrade to Singapore’s Trusted Accounting Services
Powerful automation meets human expertise. This is accounting, reimagined.
At Counto, AI handles the routine while your dedicated accounting team focuses on what truly drives your business forward. When questions arise, your Customer Success Manager is just a message or call away—no tickets, no waiting.
Simple. Intuitive. Transformative.
Join the businesses who expect more from their accounting relationship.
- Chat with us now
- Send us an email: [email protected]
- Fill out a brief contact form
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