Accounting services cost Singapore SMEs pay varies significantly – from S$2,500 to S$30,000 a year for a full-service package, depending on transaction volume, company complexity, and what is actually included in the fee. The variance is not always quality-related: a cheaper package can end up costing more if the work is not done properly the first time.
What accounting services cost in Singapore by scope
Bookkeeping only
| Transaction volume | Monthly fee |
|---|---|
| Under 50 transactions/month | S$200 – S$400 |
| 50–150 transactions/month | S$400 – S$800 |
| 150–300 transactions/month | S$800 – S$1,500 |
| 300+ transactions/month | From S$1,500 |
Full-service annual accounting packages
For most SMEs, an all-in package covering bookkeeping, GST, annual accounts, XBRL, and corporate tax filing typically runs:
| Business size | Annual package |
|---|---|
| Small (< S$500K revenue, simple structure) | S$2,500 – S$5,000/year |
| Mid-size (S$500K – S$3M revenue) | S$5,000 – S$12,000/year |
| Larger (S$3M – S$10M revenue) | S$12,000 – S$30,000/year |
Companies with high transaction volumes, multiple entities, or complex revenue recognition sit at the higher end of each range. Packages priced below S$1,500 per year for “full accounting” almost always have limitations – quarterly bookkeeping instead of monthly, no GST filing, or a cap on transaction volume. Read the fine print before signing.
What the price difference actually buys you
Turnaround time: a cheaper firm may do your books quarterly and file annual accounts six months after year end. A better firm does monthly bookkeeping and has accounts ready within 3 months. ACRA requires annual returns filed within 7 months of financial year end – late filing attracts penalties.
Proactive advice: some accountants process transactions and file returns. Others flag issues – a tax deduction you are missing, an IRAS rule affecting your situation, a classification creating an avoidable liability. This is harder to price but often where the real value sits.
Responsiveness: if you have a business decision to make and need your accountant to run a number quickly, the difference between a same-day and three-day response is real.
Error rate: errors in GST returns or tax filings can result in IRAS penalties that exceed the saving from the cheaper accountant.
Questions to ask before engaging
Get the following in writing before signing anything: exactly what is included in the monthly or annual fee (specifically whether GST filing, XBRL, ECI, and corporate tax return are covered), the transaction volume limit and the overage charge, which accounting software they use, how quickly monthly bookkeeping is turned around, and who will actually handle your account day-to-day.
If a firm quotes you a price without asking about your transaction volume, GST status, or company structure, the quote is not meaningful.
Hidden costs to watch for
Setup and onboarding fees (legitimate if disclosed upfront), software subscription pass-through costs (Xero runs around S$40–S$80 per month depending on plan), government fees passed through at cost (ACRA annual return is S$60), and rush fees applied when client records are consistently delivered late.
Getting a fair quote
Provide clear information upfront: your approximate monthly transaction volume, whether you are GST-registered, your revenue range, and the specific services you need. This lets any firm give you a quote that is actually comparable.
Cost is one factor in choosing an accounting firm – but scope, experience with Singapore SMEs, and responsiveness matter just as much. For a complete guide to what accounting services Singapore companies need and how to evaluate providers, see our accounting services Singapore guide.
Contact Abacus corp for a straightforward quote based on your actual situation.
