Accounting & Financial Services

IVYE GROUP provides full-cycle accounting and financial services to support corporate compliance and transparency. Our services cover routine bookkeeping, management reports, GST filings, and annual tax computation, helping businesses improve financial efficiency, meet statutory requirements, and lay a solid foundation for audits, tax planning, and capital operations.

📌 Highlights of Singapore’s Accounting System

  1. Standardized Financial Reporting: Adoption of SFRS accounting standards aligned with IFRS ensures uniform reporting, enhancing transparency and international credibility.
  2. Business-Friendly Tax Policies: Low corporate tax rate of 17%, with startup exemptions, R&D deductions, and other incentives to optimize tax burdens while staying compliant.
  3. Fully Digital Processes: End-to-end electronic workflows—from incorporation to tax filing—save time, reduce manpower, and minimize compliance risks.
  4. Stable and Predictable Regulatory Framework: Moderate pace of regulatory updates enables businesses to plan tax and financial strategies in advance, avoiding sudden costs.
  5. Global Capital Market Compatibility: Recognized accounting system facilitates fundraising, cross-border transactions, and IPO compliance preparation.

📌 Common Business Applications

  1. Company Incorporation & Initial Accounting Setup:Designing appropriate chart of accounts and opening ledgers to support bank account opening, financing approval, and license applications.
  2. Day-to-Day Financial Management:Recording transactions in line with SFRS standards to ensure accurate handling of receivables, payables, expenses, and GST compliance.
  3. Year-End Audit & Tax Filing:Preparing statutory financial statements, coordinating audits, and submitting Corporate Income Tax (CIT) filings with IRAS.

✅ Accounting & Bookkeeping Services Include:

  • Day-to-day bookkeeping and voucher management
  • Preparation of financial statements and management accounts
  • Bank reconciliation and discrepancy resolution
  • GST calculation and quarterly filing
  • Year-end closing and ledger finalization
  • Archiving of financial data and compliance support

📍 Overview of Accounting Service Process

1
System Setup & Chart of Accounts
  • Assist in building accounting system, establishing ledgers and account structure
  • Customize accounting logic and classification by industry
  • Provide guidance on invoice submission, bank statement preparation, and data collation
2
Day-to-day bookkeeping and voucher management
  • Collect and classify source documents monthly/quarterly (e.g., invoices, reimbursements, contracts)
  • Record accounting vouchers, manage receivables/payables, expense accounts, and cash flow modules
3
Bank Reconciliation & Variance Checks
  • Perform monthly bank reconciliations and account settlements
  • Identify and resolve discrepancies to ensure accurate and transparent records
4
Management Accounts & Financial Reporting
  • Prepare internal monthly/quarterly management reports (P&L, Balance Sheet, Cash Flow Statement)
  • Provide annual ledgers and supporting documentation for audit purposes
5
GST Filing (if GST-registered)
  • Calculate net GST payable/claimable quarterly (Output Tax – Input Tax)
  • Prepare and submit IRAS GST F5 returns
  • Support responses to IRAS inquiries or reviews
6
Year-End Closing & Audit Coordination
  • Compile annual general ledger, sub-ledgers, and supporting schedules
  • Assist external auditors with annual audit procedures
  • Provide tax computation and profit reconciliation for corporate tax filing

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