YiKai Advisory

Seamless, compliant, and automated payroll solutions

Our services are:

• Prepare monthly payroll report, Central Provident Fund (CPF) report and payslip accessible from Talenox payroll software.
• Provide expense claims reimbursement (to include on monthly payroll).
• Ensure Central Provident Fund (CPF) registration, direct debit application and monthly e-submission.
• Ensure Skills Development Levy (SDL) payment assistance and Self-Help Group (SHG) payment submission.
• File Annual Return of Employees Remuneration (Form IR8A) via Auto-Inclusion Scheme (AIS) and IR21 Tax Clearance (for foreign offboarded employees)
• Generate monthly payroll and publish payslip 2 days before pay day.

Payroll services are offered as a part of YiKai Advisory’s Accounting Plans.

Frequently Asked Questions

• Why do I need accounting services?
  
  Mandatory levies, contributions, and statutory requirements should be strictly complied with. In Singapore, other than the Central Provident Fund contributions, employers are also required to make monthly contributions for the following:
  • Skills Development Levy for training grants for when you send your employees for work-related trainings
  • SHG funds aimed at helping the less privileged in the respective ethnic communities such as CDAC, MBMF, ECF, and SINDA
  • Levies for foreign workers with Work Permits
  • CPF contributions
    
    
• What are the employee payroll records to be maintained?
  
  It is every company’s obligation to be able to produce employee records and relevant employment forms whenever the need for such arises. This could be when there is a dispute regarding payments made or when inquiries arise from the IRAS or other tax regulatory bodies. In Singapore, employment forms including Form IR8A and Appendix 8A, IR21, Form IR8S or Appendix 8B have to be regularly collected and submitted to the proper authorities before the 1st of March every year.
  
  
• Can I switch to Sleek from another accounting firm?
  
  Traditional accounting firms and services in Singapore involve summarizing, analyzing cash flow, and interpreting financial transactions recorded in the ledger. For private limited (pte ltd) businesses, this includes identifying, measuring, and consistently recording daily financial transactions.
  
  Understanding the difference between accounting services in Singapore and elsewhere can help pte ltd business owners appreciate the crucial role these processes play in company growth. By outsourcing your accounting services, annual return documents, and financial requirements to us, you can save time and costs while focusing on your business. Our professionally trained accountants comply with Singapore’s privacy policy and follow financial reporting standards, managing all expenses and financial records transparently.
  
  We offer clear pricing for our monthly accounting service packages, available on our website. Clients can choose packages that best suit their business needs and adjust their subscription for additional management reports as required. Using software like Xero and YiKai Accounting Software, we efficiently manage expenses, invoices, and records.
  
  Contact our team or submit the form to learn more about our accounting services. Our staff and accountants are ready to assist you.
  
  
• I want to use YiKai Advisory’s outsourced accounting services, but my accounts are messy. What can I expect?
  
  If your accounts are messy, our team will address this during onboarding by conducting an initial accounting review. We use accounting software from our pre-accounting partner, Receipt Bank, and our digital financial system partners, Xero or YiKai’s in-house Accounting Software, to identify any issues and propose corrective measures. This process, known as ‘Reconstruction of Accounts,’ ensures that your business accounts comply with the Accounting Standards of Singapore. Afterward, our accountant will welcome you with our hassle-free digital solutions and accounting services.
  
  Leave us your email through the form above or call us to speak with an accountant or sales representative for a free consultation on the pricing and fees of our accounting services today.
  
  
• How are YiKai Advisory’s accounting and tax plans priced?
  
  YiKai Advisory’s accounting plans are priced according to the average monthly expenses of a company and based on a financial year period  (not calendar year). A company’s FYE can be found publicly from ACRA’s website or on the First Directors Board Resolution. They can also search their UEN or Company Name on the Open Gov website.
  
  We monitor a client’s monthly expenses over a financial year period and will adjust the final plan price based on the actual expenses resulting in a potential credit or debit based on the initial plan taken.