Accounting services for online sellers
Accounting services for sellers who ship every day
This page is the scope of engagement, written plainly enough that you can read it before contacting anyone. It covers what we do month to month for a Singapore e-commerce business, the law on whose records these are, and where our work stops and yours begins.
What the month closes with
SGD 0.00
unexplained difference left in the reconciliation. Every payout deposit ties back to its settlement report, and anything we cannot resolve is written into a variance note rather than parked in a suspense account.
- Ledger updated
- Monthly
- GST return
- F5, prepared for your review
- Currency
- SGD, USD, MYR and others
- Records
- Electronic, access plan included
Access does not depend on us. The ledger is yours.
What a month with us actually covers
Seven pieces of work, in plain language, with the deliverable named for each. If a piece is outside what we take on, it says so.
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1
Monthly bookkeeping and close
Each month we post your sales, marketplace fees, refund adjustments, shipping charges, and bank activity into your cloud ledger, then reconcile the bank account against what the ledger says should be there. The month is closed only when the payout deposits tie back to settlement reports and the difference lines are explained, not parked in a suspense account.
- Deliverable
- Reconciled books and a short variance note listing anything we could not resolve and why.
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2
Payout and settlement reconciliation
Marketplace payouts, payment gateway transfers, and buy-now-pay-later settlements each arrive on their own schedule with their own deductions. We match each deposit to its underlying sales period, post gross sales as revenue, platform fees as a reduction of revenue, and refunds as adjustments in the correct period.
- Deliverable
- A settlement-to-ledger trail you can follow from any bank deposit back to the orders behind it.
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3
GST return preparation
For GST-registered sellers we prepare the GST F5 return from the reconciled ledger, splitting taxable, zero-rated, and out-of-scope supplies, and handling reverse charge where imported services were used. The return is prepared for your review and submission, and the working papers stay in the file.
- Deliverable
- F5-ready figures with the supporting schedules.
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4
Multi-currency handling
Selling in SGD, USD, MYR, or anything else means exchange differences that either get explained or fester. We post each sale at a documented rate, keep the gain or loss visible in its own line, and reconcile the converted balance to the actual bank credit.
- Deliverable
- Currency movements you can trace to a bank statement line rather than a rounding entry.
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5
Record-keeping support
IRAS guidance says records may be kept electronically using accounting software, and physical source documents need not be retained if the electronic records are kept properly. That fits e-payment services, marketplaces, and delivery platforms, which is most of where your paperwork actually lives. We help structure exports and retention so you can produce records on request without a filing-cabinet archaeology dig.
- Deliverable
- A record structure and access plan, not a promise to store your paper.
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6
Backlog and cleanup work
Books that have fallen six months behind do not get fixed inside a monthly retainer. Cleanup is a separate engagement, scoped after we see the state of the ledger. We date each transaction into its correct period, rebuild the reconciliations, then hand the cleansed books into the monthly cycle.
- Deliverable
- A ledger we can stand behind and a written summary of what was corrected.
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7
What stays with you
The books remain yours, and access does not depend on us. You are responsible for the completeness and accuracy of source records and for the truth of what is filed; we prepare and reconcile. Saying this up front avoids the awkward conversation later. It is also the honest description: we are accountants, not your compliance department.
Advisory, tax structuring, and company-secretarial work sit outside this scope and are referred out if you need them.
What you keep, and what we keep
Two short columns. One is the scope you hold us to; the other is the work we deliver. Saying this before engagement avoids surprises on both sides.
Yours to hold
- Ownership of the ledger and the source records behind it.
- Access that does not depend on the engagement continuing.
- Completeness and accuracy of the source documents you hand over.
- Truth of what gets filed, and the decision to file it.
What we deliver
- Reconciled cloud ledger with a variance note each month.
- Payout-to-invoice matching and refund adjustments posted in the correct period.
- GST F5 working papers kept in the file for your review.
- A written record structure you can produce on request.
Compare the scope
The same work, side by side with what a general accounting firm usually quotes for. This is the honest shape of what an e-commerce workflow asks for that a standard engagement may leave out.
| Area of work | Typical accounting engagement | Our e-commerce workflow |
|---|---|---|
| Sales posting | Monthly summary figures supplied by you | Posted from the platform report, gross sales as revenue, platform fees as a reduction |
| Payout matching | Usually left to the bank reconciliation | Every settlement deposit traced back to the orders in its sales period |
| Refund adjustments | Often folded into one line at year end | Posted into the period the refund belongs to, so the month reads true |
| GST treatment | F5 prepared from the figures you supply | F5 prepared from the reconciled ledger, taxable, zero-rated and out-of-scope split |
| Multi-currency | Difference posted to a single rounding line | Each sale at a documented rate, gain or loss kept in its own visible line |
| Record access | Copies released on request | Export structure and access plan handed over, kept current as you grow |
How a month runs, start to finish
Four steps that repeat every month once your ledger is clean. Nothing on this page needs a login to understand; if you want the long version, the how-we-work page has it.
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Step 1
You hand over the period
Platform reports, gateway statements, bank feed access, and any refund or chargeback notes. A shared folder and read access is usually enough; we do not need your passwords.
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Step 2
We post and reconcile
Sales, fees, refunds, shipping and bank activity land in the cloud ledger. We then reconcile the bank account against the ledger and work each difference until it is either explained or written into the variance note.
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Step 3
You review the close
You get the reconciled month, the variance note, and any questions we needed answered to post correctly. If a GST return is due, the F5 working papers come with it. Nothing is filed without your sign-off.
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Step 4
Next month opens on the same ledger
The cleaned ledger carries forward. No rebuild each month, no re-explaining your platforms, no reconciling the same gap twice.
Frequently asked
Questions sellers ask before signing on. If yours is not here, send it and we will answer it plainly.
Can you take on a business that is not GST-registered?
Yes. Not every seller is registered, and the scope adjusts: the ledger, the reconciliation and the record-keeping work carry on, and the GST return work only begins when you register. We will flag when your turnover looks likely to cross the registration threshold so it is a planned decision rather than a surprise.
Do you work with any particular accounting software?
We work in cloud ledgers and adapt to the one you already use where it makes sense to stay. If your current tool cannot export what we need for a proper reconciliation, we will say so before you commit — the platform-integrations page lists what we typically run and how the data moves between systems.
What does a cleanup engagement cost compared to a monthly retainer?
Cleanup is quoted separately because the work is not the same shape: it depends on how many months are behind, how many platforms are involved, and how much has to be rebuilt rather than corrected. We look at the ledger first and quote from what we see. If the books are already clean, there is no cleanup to bill.
What is not in the scope on this page?
Advisory, tax structuring, and company-secretarial work are outside this engagement and referred out if you need them. We are also not your compliance department: the truth of what is filed is yours, and we prepare and reconcile what supports it.
How do we start?
Send us a note with a rough idea of your platforms, your monthly order volume, and whether the books are current. We will reply with a written scope and a starting point — usually the current month if the ledger is clean, or a cleanup engagement first if it is not.
Where we are
The office is in the CBD, and clients are met there when the numbers need to be looked at together rather than over email.
- Registered office
- 71 Robinson Road, #14-01, Singapore 068895
- Phone
- +65 6821 9482
- [email protected]
- Hours
- Monday to Friday, 9:00 am – 6:00 pm (Singapore time)
Office location — 71 Robinson Road, #14-01
Ready to check if this scope fits your shop
Send over your platforms, roughly how many orders you ship a month, and whether the books are current. We will reply with a written scope and the right starting point — a monthly close, a cleanup, or a first conversation.