Accounting and bookkeeping are the backbone of sound corporate governance and informed decision-making. Accurate, timely, and compliant financial records are essential for providing clear management insight, maintaining shareholder confidence, and ensuring full regulatory compliance. However, maintaining a dedicated in-house finance function that can scale effectively with business growth can be a costly challenge.
Outsourcing accounting and bookkeeping allows an organisation to focus on its core commercial activities. Zetland provides a comprehensive accounting and bookkeeping service that is tailored to the specific needs of internationally active businesses. We design a chart of accounts that is aligned to local accounting standards, implement practical and efficient workflows for document capture and approvals, and deliver timely monthly management accounts. Our approach combines traditional bookkeeping with the efficiency of modern cloud-based platforms. Zetland favours the Xero system which can be integrated with banking applications. Zetland can also issue invoices and chase debtors.
Singapore's reputation as a world-class business hub is built on a foundation of regulatory integrity and high standards of corporate governance. Our accounting and bookkeeping service in Singapore is designed to ensure a business adheres to these standards. We maintain a company's accounts in full compliance with the Singapore Financial Reporting Standards (SFRS or SFRS(I)), providing a solid basis for your annual financial statements.
Our team manages all aspects of day-to-day bookkeeping, from processing transactions to performing monthly bank and credit card reconciliations. A key area of our expertise is the management of Goods and Services Tax (GST). We ensure that GST is correctly accounted for on all your transactions and that the accounting system is configured to produce the necessary data for periodic GST returns, which we can also prepare and file on your behalf.
While many private companies in Singapore are exempt from a full statutory audit, they are still required to prepare a full set of unaudited financial statements for filing with the Accounting and Corporate Regulatory Authority (ACRA). Zetland's service ensures that these financial statements are prepared accurately and in the required XBRL format for filing. This diligent approach to accounting ensures that each Singapore entity remains fully compliant with its obligations to both ACRA and the Inland Revenue Authority of Singapore (IRAS), providing peace of mind and a robust financial framework to support business growth.
The accounting environment in Mainland China is uniquely complex, with a strict regulatory framework that is closely intertwined with the tax system. Zetland's accounting and bookkeeping service in Shanghai provides the essential local expertise to navigate this landscape successfully. A fundamental requirement is that all books of account must be maintained in the Chinese language and denominated in Renminbi, in accordance with Chinese Accounting Standards (CAS). Our bilingual team manages this entire process, ensuring full compliance with this core rule. A central feature of the Chinese system is the 'fapiao' (official invoice), which is managed through the Golden Tax System. Meticulous management of fapiao is critical for both accounting and tax purposes. Our team ensures that all company revenue is supported by correctly issued fapiao and that all expense claims are backed by valid, verifiable fapiao.
We conduct regular, detailed reconciliations between your general ledger, your fapiao records, and your periodic VAT returns to ensure complete consistency, which is a key focus of any tax inspection. On a monthly basis, we prepare a full set of financial statements in accordance with CAS. For our multinational clients, a key part of our service is then to prepare a supplementary management reporting pack that bridges the gap between the CAS-compliant statutory books and a group's own accounting standards, such as IFRS or US GAAP. This involves preparing all the necessary adjustment journals and providing a clear, bilingual explanation of the differences. This expert, on-the-ground support is vital for mitigating the significant compliance risks of operating in China and for providing both local and international management with a clear and accurate picture of financial performance.
Zetland Fiduciary Group operates a global network of offices to support clients across key international financial hubs. Whether you are seeking guidance on company formation, trust administration, accounting, or cross-border transactions, our local experts in Hong Kong, Shanghai, Singapore, and London are ready to assist.
Contact any of our offices directly for tailored advice and seamless service.