Accounts Tax Secretary

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Accounting and Bookkeeping

Reliable and simple one stop professional accounting services

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We help you to streamline and speed up accounting with our accounting outsourcing services.

Accounts Tax Secretary

Why B6?

Professionalism and Confidentiality

An experienced and dedicated team ensures the accurate handling of data and reporting for your business. A non-disclosure policy governs all services.

Easy and Fuss-Free Service

With a simple step of scanning bills/receipts to us through an online platform/apps, you can stay focused on business growth.

Cost-Effectiveness

Leverage the advantages of having a fully staffed in-house accounting team at 10x times lower expenses with our reliable and cost-effective outsourced accounting services.

Customization

We meet your unique needs with our remote accounting services, acknowledging the tailored business needs of extraordinary businesses like yours.

Digitalization and Transparency

Digital bookkeeping enables you to access real-time financial metrics, which is a key to making agile business decisions, and provides a clear overview of actionable financial insights.

What We Offer arrow_downward

  • Monthly, quarterly and yearly full set bookkeeping
  • Compilation unaudited financial statements
  • Preparation consolidation
  • XBLR report conversion

Bookkeeping

Easy, online and automated bookkeeping solutions

We help you solve your problem by transforming messy bills into a clear and valuable report that effectively communicates your business dynamics.

Proper accounting and bookkeeping are mandated under the Singapore Act and the Income Tax Act. Under Section 199 of the Singapore Companies Act, directors are required to maintain proper accounting records and ensure the accuracy of the company's books of accounts, reflecting its financial standing and providing a sufficient explanation for its transactions.

Rest assured with our expertise in preparing and compiling your accounts to meet the requirements of the Singapore Financial Reporting Standards (SFRS).

Our monthly bookkeeping service includes management reports as follows:

  • Trial Balance
    Trial Balance
  • Balance Sheet
    Balance Sheet
  • Debtors and Creditors Aging
    Debtors and Creditors Aging
  • Balance Sheet Schedule
    Balance Sheet Schedule
  • Cashflow Statement
    Cashflow Statement (Premium Plan)
  • Bank Reconciliation Report
    Bank Reconciliation Report
  • ProfitLoss
    Profit/Loss
  • Financial Review Meeting (Premium Plan)
    Financial Review Meeting (Premium Plan)
  • Journal Listing
    Journal Listing

How our bookkeeping service works

Review & set up your chart of accounts

Submit your periodical bills to us through phone/cloud platform

Our expertise in transforming data with online accounting software and reconciling

Management reports and financial review

Regular Financial Review

Why is this important for your business?

B6 is beyond the numbers; our services do not end with sending your management report. We spend time understanding your business metrics and provide regular financial reviews to help you make informed decisions and improve efficiency. This allows you to stay on top of your financial insights.

A key component of effective business management is conducting regular financial reviews. It helps provide insights into the company's performance, identifies areas for improvement, and ensures compliance with financial regulations.

Importance of regular financial review

  • Tracking Financial Health
  • Improving Decision Making
  • Ensuring Compliance
  • Identify Cost Saving Opportunities
  • Supporting Expansion and Investment
  • Strengthening Internal Controls
  • Minimizing Financial Risk
  • Strengthening Tax Planning
  • Increased Stakeholder Communication

If you need a comprehensive and effective financial review with financial analytics reporting, we can tailor an accounting solution to your needs. We provide pragmatic advice on actionable financial insights which allow you to take control of your business finance.

Customized bookkeeping/accounting system to meet your unique condition

We are more than just normal bookkeeping services; we help you tailor an accounting system that suits your business needs, combining our financial operations and payroll services. Our solutions are flexible, allowing them to be mixed and matched according to your specific requirements. We begin the process by learning about your business and company structure, reviewing your current financial status, processes, and chart of accounts. We will then design an accounting/bookkeeping system tailored to meet your business requirements.

Compilation of Financial Statements

We integrate cloud technology into our reporting process to help transform the data into a report.

B6 handles the complexity for you

Small private company exemption from statutory audit if it meets at least 2 of 3 following criteria for immediate past two consecutive financial years : 1. Total annual revenue ≤ S$10 million 2. Total assets ≤ S$10 million 3. No. Of employees ≤ 50. However, they are still required to prepare a full set of financial statements (a compilation report) by the Singapore Financial Reporting Standards ("FRS") for the Annual General Meeting and submission to the Accounting and Corporate Regulatory Authority ("ACRA").

A private limited company in Singapore need not file a financial statement in the following circumstances:

arrow_forward A non-listed company enters "dormant status" for the entire financial year, meaning it has no major accounting transactions (certain transactions are still allowed), and the total value of its assets is no more than $500,000.

arrow_forward The company is an exempt private company. It is a private limited company that has fewer than 20 shareholders, none of whom are corporate entities.

Although exempted from filing financial statements, your company still needs to prepare and keep these papers internally, according to the Companies Act in Singapore.

If preparing financial statements is troublesome to you, leave the complexity to B6; we will prepare it by the Singapore Financial Reporting Standards ("FRS").

The SFRS Financial Statements comprise the following 6 sections:

1

Directors’ Statements

2

Statement of Comprehensive Income

3

Statement of Financial Position

4

Statement of Changes in Equity

5

Cash Flow Statement

6

Notes to the Financial Statements

Got questions?

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FAQ

  • What are remote bookkeeping services?
    B6 work office to prepare for bookkeeping, which means working remotely. We use QuickBooks or Xero cloud-based accounting software, which you can access anywhere.
  • When should I outsource bookkeeping services?
    The benefits of outsourcing include cost savings, freeing yourself to focus on business growth, compliance with the latest changes in accounting standards, reduced staff maintenance stress, and alleviating the load of administrative tasks when the business owner feels overwhelmed managing the business operation or would like to reduce the administrative burden, which can be delegated to B6.
  • What is included in the monthly management report?
    The monthly management report includes the Profit/Loss Statement, Balance Sheet, Cash Flow Statement, and Financial tracking KPI analysis.
  • Can I switch to B6 from another accounting firm?
    Yes, it is a seamless process as B6 will directly communicate with your existing accounting service provider to transfer all your financial records and ensure your company remains compliant. We review the essential reports thoroughly and migrate the accounting data. We help businesses optimize tax savings.
  • Can I choose to use a cloud accounting software other than QuickBooks that comes with the bookkeeping premium plan?
    Yes, you can choose other cloud accounting software, such as XERO; the price will be different.
  • What are the yearly statutory filing requirements for an incorporated entity?
    There are specific filing requirements and annual obligations for an incorporated entity. The most compliance filing requirements include:
    - Preparing Financial Statement (Most commonly, it is unaudited)
    - Preparing and filling the Estimate Chargeable Income (ECI)
    - Preparing and filing Income Tax Return (Form C/C-S)
    - Holding Annual General Meeting (AGM)
    -Preparing and Filing Annual Return
    Filing GST Return (If required)