Bookkeeping Services

Whether you are launching a startup in need of small business bookkeeping services or already run an established business, K S Assets can offer you a convenient bookkeeping solution at cost-effective rates. All companies registered in Singapore must keep proper books of accounts as stipulated by the Singapore Companies Act. We will help you fulfill the compliance requirements stipulated by ACRA and IRAS and avoid unnecessary penalties.

Unaudited Financial Statements

Most private limited companies in Singapore are no longer required to have their accounts audited if they satisfy certain conditions.

• Exempt private companies — which have no corporate shareholders and no more than 20 individual shareholders
• with turnover of less than S$10 million for the accounting year can file unaudited reports.
• Dormant companies are also exempt from submitting audited reports.

Payroll Service

Under the Employment Act, companies must pay their employees correct salaries within 7 working days after the end of the salary period. Failure to pay salaries in accordance with provisions of the Act is an offence.

One of the most important tasks for all businesses is the preparation of payroll and payment of salary. The process can be complicated further and be more time-consuming due to additional components such as benefits, allowances, deductions, government remittance, etc. It is no surprise that many SMEs choose to outsource their payroll function to accounting firms.

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