If your business doesn’t have much going on in a month, a monthly close can be more than you need. Quarterly bookkeeping gives you the same checks four times a year, lined up with your GST periods, at a lower cost because there’s less work in a quarter than in three separate months.
Last reviewed 17 October 2026.
Quarterly or monthly?
| Quarterly | Monthly | |
|---|---|---|
| Reconciliation | Every quarter | Every month |
| You see your numbers | Four times a year | Twelve times a year |
| Best for | Small teams with light activity (our rule of thumb: fewer than roughly 20 to 30 transactions a month) | Regular invoicing, payroll, loans, growth |
| A mistake is found | Up to a quarter later | The month it happens |
| GST | Fits quarterly GST periods | Fits any GST period |
The transaction figure is our rule of thumb, not a legal threshold.
What happens each quarter
- We collect statements, invoices and receipts for the three months.
- We reconcile every bank and credit card account.
- We code and check transactions against their documents.
- We prepare the GST figures for the period if you’re registered.
- We record payroll and CPF, and director loan movements.
- You get a profit and loss, a balance sheet and a note on anything unusual.
How it fits your GST
Most GST-registered companies file quarterly, because IRAS asks for monthly returns only where it has approved them. The F5 return is due one month after the period ends, so a quarter ending 31 March has a return due 30 April. A quarterly close done promptly gives you checked figures in that window. See GST filing.
When quarterly stops being enough
- Transactions are growing and a quarter takes a long time to sort
- You’re hiring, or running payroll that changes monthly
- You’ve taken a loan or investor money and need monthly figures
- You find yourself asking “how are we doing?” between quarters
Switching to monthly bookkeeping is straightforward.
Example (illustration only)
ABC Pte Ltd has a four-person team and about 15 transactions a month. Its quarter to 31 March is closed in April, in time for the GST return due 30 April. When it takes on staff in the second half of the year, it moves to monthly.
What we need from you
- Statements for every account in the quarter
- Invoices and receipts
- Payroll summaries and loan statements
- A quick note about anything unusual that quarter
Questions people ask
Does quarterly cost less? Usually, because there’s less work. We quote after a first look.
Do I still need a year-end? Yes. Quarterly closes feed the year-end financial statements, see unaudited accounts.
Are the books behind? Start with annual compilation, then move to quarterly.
Sources
- IRAS: GST F5 due dates, as set out in our GST filing page
General information, not professional advice for your specific situation.
Think quarterly might suit you?
Tell us your monthly transaction count and GST status, and we’ll tell you whether quarterly or monthly fits. Ask us about quarterly bookkeeping.