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Bookkeeping, Accounting & Financial Reporting
Accurate, compliant, and investor-ready finance functions for Singapore companies and groups.
Bookkeeping, Accounting & Financial Reporting
Accurate, compliant, and investor-ready finance functions for Singapore companies
and groups.
and groups.
Since 2010, Eltoma (Singapore) Pte. Ltd. has delivered end-to-end accounting services aligned with Singapore Financial Reporting Standards (SFRS) and the requirements of ACRA and IRAS. We maintain your books, produce timely management information, prepare statutory financial statements, and coordinate audits—so you can focus on growth.
Who we support:
- Singapore start-ups needing a turnkey finance function.
- SMEs scaling locally or regionally and seeking better controls and visibility.
- Multinationals requiring Singapore entity compliance and group reporting.
- Investment vehicles (VCCs, LPs, holding companies) needing robust reporting and consolidation.
Our Services Include:
- Full double-entry bookkeeping and general ledger maintenance.
- Accounts receivable/payable processing, supplier payments run, and debtor follow-up.
- Bank, card, and wallet reconciliations (including multi-currency).
- Expense and AP automation (we implement practical workflows to reduce errors and processing time).
- Fixed asset register with depreciation schedules.
- Inventory and landed-cost postings (where applicable).
- Monthly or quarterly management packs:
- Profit & loss, balance sheet, cash flow, aged AR/AP, bank rec summaries.
- Variance analysis vs budget/forecast and prior periods.
- KPIs tailored to your model (e.g., gross margin, CAC/LTV snapshots, DSO/DPO, inventory turns).
- Board-ready commentary highlighting risks, opportunities, and required actions.
- Rolling 12-month cash flow and scenario planning (on request).
- ECI preparation workflow and corporate income tax hand-off.
- GST registration review, computation, and return preparation where in scope of the engagement.
- Guidance on place-of-supply, export documentation, and typical IRAS queries for your sector.
- Statutory year-end accounts prepared in SFRS format, including notes and directors’ statement.
- XBRL tagging/filing packs for ACRA (where applicable).
- Small company exemptions assessed and documented.
- Pre-audit readiness checks (cut-off, confirmations, schedules).
- Coordination with auditors, secure document room, and issue tracking.
- Rapid clearance of audit queries to keep your timetable on track.
- Consolidated financial statements with elimination entries (intra-group sales, balances, dividends).
- Multi-currency translation (CTA, FX differences) and NCI computation.
- Consistent group accounting policies and consolidation journals audit trail.
- Sub-consolidations by region or business unit if required.
- Chart-of-accounts design aligned to your business model and reporting needs.
- Monthly close calendar with clear ownership and deadlines (typically 5–8 working days).
- Internal controls: approval matrices, segregation of duties, documentation standards.
- Implementation and optimisation of leading cloud accounting platforms and integrated apps (AP, expenses, inventory, reporting).
- Data security & confidentiality baked into process and tooling.
Outcomes you should expect:
-
Signed monthly pack (PDF + source spreadsheets) within agreed SLA. - Bank-rec and sub-ledger tie-outs documented each cycle.
- Quarterly CFO letter (optional) summarising performance and key risks.
- Year-end statutory set (SFRS) + XBRL files (where applicable).
- Audit binder with reconciliations, confirmations, and sampling support.
- Consolidated group set with eliminations and FX workpapers (for groups).
Our process
(simple and predictable)
- Discovery & scopingObjectives, reporting cadence, KPIs, systems, entities, and deadlines.01
- Onboarding & clean-upKYC, document list, opening balances review, COA rationalisation, control set-up.02
- Go-live & monthly closeTransaction processing, reconciliations, management pack delivery, action log.03
- Quarterly reviewKPI deep-dive, budget/forecast refresh, tax/GST checkpoints.04
- Year-end & auditStatutory accounts, XBRL, audit liaison, post-audit improvements.05
Target SLAs (typical):
- Management pack: by WD+7 (working day 7) each month.
- AR/AP ageing and cash snapshot: by WD+3.
- Audit readiness pack: within 15 business days of year-end close.
Compliance anchor points (Singapore):
- Companies Act 1967 – statutory records, annual filing and financial reporting obligations.
- Income Tax Act 1947 – ECI/Form C-S/C and interactions with the territorial taxation principle.
- Goods and Services Tax Act 1993 – registration thresholds, returns, exemptions.
- SFRS – recognition and measurement policies aligned with your sector.
Optional add-ons
- Payroll & HR administration (MOM/CPF compliant).
- Procurement & expense policy drafting and staff training.
- Treasury support (cash management, FX policy, banking pack preparation).
- Management reporting dashboards for founders/boards.
- Revenue recognition memos (SFRS) for complex contracts.
FAQs:
- Usually within 2–3 weeks, including opening balance validation and process set-up. Faster turnarounds are possible for clean ledgers.
- Yes. We can operate your current cloud stack or migrate you to a better-fit platform with minimal downtime.
- Yes. We prepare full SFRS-compliant consolidations, handle FX translation, and align policies across entities.
- With your approval, we liaise directly with auditors and can brief investors or lenders using a board-ready pack.
- Yes. We prepare banking/KYC packs and can assist with account opening in Singapore and major financial centres; we also set up secure payment workflows.
| | Sign up for a free session with one of our professionals To incorporate a new entity, restructure your group, or dissolve a company in a compliant and cost-effective way, contact our Corporate Services Team |