Overview
- Accurate financial management and strategic planning are key to the success and growth of businesses in Singapore.
- Legatcy offers customised accounting solutions tailored to meet the needs of businesses, whether small startups or large enterprises, streamlining their financial operations and reducing errors.
Running a successful business in Singapore requires more than just great products and services. It demands accurate financial management and strategic planning. One of the best ways to ensure your financial records are well-maintained and compliant is by relying on professional accounting and bookkeeping services in Singapore.
Legacy is a trusted partner that offers comprehensive solutions to help businesses of all sizes streamline their financial operations. By outsourcing accounting and bookkeeping tasks, you can minimise errors, save time and reduce operational costs.
Why Legatcy Stands Out in Singapore
With a focus on personalised services, Legacy tailors its offerings to meet the specific needs of startups, SMEs, and large enterprises, ensuring that each business receives customised solutions. Our commitment to fostering long-term client relationships is at the heart of our approach, offering consistent support to ensure sustainable growth.
By combining extensive knowledge with practical financial solutions, Legacy helps businesses navigate the different financial requirements with ease. Whether assisting new businesses in building solid financial frameworks or helping established companies streamline their operations, we provide services that address the unique challenges of each client.
Overview of Legatcy’s Services
With a client-first approach, we provide tailored solutions that ensure financial operations are streamlined, compliant, and positioned for growth. Our team of experts works= closely with businesses to deliver services that support both day-to-day financial management and long-term strategic planning.
Financial Accounting
In Singapore, businesses rely on professional accounting services to meet regulatory requirements, including the Singapore Financial Reporting Standards (SFRS) and the regulations set by the Accounting and Corporate Regulatory Authority (ACRA). Beyond compliance, it also offers strategic insights, helping businesses assess trends, optimise cash flow and make informed decisions that align with their goals.
Management Accounting
At Legatcy, our accountants act as trusted partners, offering tailored financial strategies designed to optimize growth and operational efficiency. Unlike financial accounting, which focuses on external reporting, management accounting supports internal decision-making, such as resource allocation, cost control, and performance evaluation. Through accurate budgeting, forecasting, and continuous financial analysis, it empowers businesses to maintain profitability, identify trends, and improve overall performance in a competitive market.
Audit and Assurance
Ensuring the accuracy and integrity of financial records is necessary for businesses, and audit and assurance services provide a thorough evaluation to achieve this. Our team prioritises honesty and objectivity, offering independent assessments that enhance the financial reliability of your organisation. By reviewing financial statements, we identify discrepancies and ensure compliance with SFRS and other regulatory requirements. This comprehensive approach not only validates data but also helps businesses mitigate risks, improve decision-making, and create greater accountability in financial operations.
Payroll Services
Effective payroll management is essential for businesses to ensure accurate and timely employee compensation while remaining compliant with local regulations. We provide comprehensive payroll solutions, including salary calculations, CPF deductions, and payslip issuance, tailored to the unique needs of your organisation. Our services are fully compliant with Singapore’s employment laws, reducing the risk of penalties and ensuring proper submission of mandatory forms. With advanced payroll software such as Xero Solutions, we streamline operations, improve accuracy, and provide dedicated support, allowing your business to focus on growth and strategic objectives.
Accounts Receivable/Payable
Effective accounts receivable (AR) management enables timely payments, improving cash flow and reducing the risk of bad debts, while fostering stronger customer relationships through clear communication. Meanwhile, efficient accounts payable (AP) management ensures timely payments to suppliers, strengthening vendor relationships and providing opportunities for cost savings, such as early payment discounts. A well-structured AR and AP system also aids in better financial planning, reducing errors and preventing fraud, allowing businesses to make informed decisions and maintain financial stability.
The Importance of Professional Accounting and Bookkeeping Services
Bookkeeping lays the groundwork for effective financial management by systematically recording all transactions, which helps produce key financial statements necessary for business analysis and decision-making. Without professional accounting support, businesses risk inaccurate records, non-compliance with tax regulations, and lost opportunities due to time-consuming internal management.
Outsourcing bookkeeping helps streamline financial processes, providing accurate records and reducing administrative burdens, allowing businesses to focus on growth. These services also ensure regulatory compliance, reducing the risk of penalties, and offering access to expert guidance. Ultimately, outsourcing accounting functions provides businesses with the financial insights needed to make informed decisions and scale efficiently.
Key Takeaway
Accounting and bookkeeping services in Singapore are essential not only for ensuring compliance and accuracy but also for providing valuable insights that drive business growth.
At Legatcy, we offer tailored accounting and bookkeeping solutions to help your business thrive. Contact our team today to learn how our expert services can optimise your financial management and support your business goals.
