Case Study: How a Singapore Accounting Firm Set Up a Remote Team in Malaysia

Building a High-Performing Offshore Accounting Team in Malaysia: A Strategic Solution for Singapore Accounting Firms

Accounting firms in Singapore, Hong Kong and Australia are facing significant challenges, including higher salary demands, shortage of accountants, and increasing pressure to expand their operations while maintaining high standards of service quality.

Many firms face the challenge of scaling their operations while upholding high service quality standards. Traditional outsourcing models often fail to meet these demands due to a lack of integration, control, and consistency. While outsourcing was once the go-to solution, progressive firms now seek a more strategic approach; dedicated teams that seamlessly align with their workflows and standards, rather than temporary support.

This shift has led many to explore offshore team building in cost-efficient, high-potential markets like Malaysia. At FastLaneRecruit, we offer a smarter solution: enabling firms to build fully operational, dedicated offshore accounting teams in Malaysia that act as a seamless extension of their business without the complexities of establishing a local entity.

We provide a complete offshore team solution built on three core stages:

Stage 1: Build the Right Team
Stage 2: Set Up a Functional Workspace
Stage 3: Equip and Enable Your Team

We help firms grow, become more resilient, and save money long-term, all without compromising the quality their clients expect.

Our Solution: Complete Offshore Team Solution in 3 Core Stages:

1. Stage 1: Build the Right Team

1.1 Talent Sourcing

To establish a high-performing offshore team for Singapore accounting firms, we begin by working hand in hand with your team to understand your staffing needs and daily processes. This approach ensures that every offshore position, from junior accountants to senior accountants and administrative managers, is tailored to meet your firm’s exact operational needs and work culture.

Drawing on our established presence in Malaysia, we tap into a robust talent pool built through years of trusted partnerships. Every candidate goes through a careful screening process to ensure they have the right skills and experience to meet Singapore accounting standards and integrate seamlessly into your firm’s operations.

1.1.1 A well-rounded offshore team relies on having the right combination of roles to effectively cover your entire workflow:

Junior Accountants (1–2 years)

Junior Accountants handle daily bookkeeping, data entry, and maintain accurate ledgers using software like Xero, MYOB/ABSS, or SAP. They perform bank, supplier, and vendor reconciliations in line with Singapore accounting standards and assist in preparing basic financial statements and supporting documents for audits.

Accountants (3–5 years)

Accountants manage full sets of accounts and oversee month-end and year-end closings while ensuring financial statements comply with Singapore Financial Reporting Standards (SFRS). They apply GST coding, assist with reconciliations and reporting to IRAS, and collaborate with clients and teams to address accounting queries, using software like Xero, MYOB/ABSS, Sage 300, and SAP.

Senior Accountants (5–7 years)

Senior Accountants lead the preparation of accounts and financial reports, ensure compliance with Singapore standards, and provide strategic financial insights. They supervise junior staff, oversee reconciliations, and leverage advanced software features to enhance data accuracy and reporting.

Accounting Managers / Team Leads (8+ years)

Accounting Managers oversee accounting teams and manage complex financial operations, ensuring compliance with Singapore accounting and tax regulations. They deliver financial analysis, budgeting, and regulatory reporting, while collaborating with clients and fostering a professional team culture.

Administrative Managers

Administrative Managers oversee office operations and ensure compliance with Singapore standards. They coordinate with accounting teams, manage document security and sharing, and use digital collaboration tools to support a smooth and efficient workflow.

1.1.2 Key Criteria We Focus On When Hiring Accountants for Singapore Accounting Firms

To ensure that your offshore team in Malaysia can integrate seamlessly with Singapore’s accounting practices, we prioritise candidates with specific competencies and experience.

Proficiency in Singapore Accounting Software

We prioritise candidates with practical experience using accounting platforms commonly adopted by Singapore firms, such as Xero, QuickBooks, MYOB/ABSS, Sage 300, and SAP Business One. Beyond basic navigation, we seek accountants who can:

• Set up and manage charts of accounts in line with Singapore’s financial reporting standards
• Perform comprehensive bank and credit card reconciliations to ensure data accuracy
• Prepare financial reports—profit and loss statements, balance sheets, and cash flow statements
• Manage payroll processing using integrated features in software like Xero, MYOB/ABSS, or SAP
• Apply GST coding rules accurately and understand how these integrate with IRAS compliance requirements
• Use advanced features such as recurring transactions, tracking categories, and integrated document management modules like those in Xero Practice Manager
  

GST Preparation and Compliance

We ensure candidates understand Singapore’s GST framework and can handle GST-related tasks with precision:

• Familiarity with standard and simplified GST accounting methods in Singapore
• ✅ Proficiency in reconciling GST liabilities and preparing GST reconciliations within accounting software
• Ability to accurately code GST expenses and income, and to apply input tax credits correctly
• Competence in preparing and validating GST submissions to IRAS, cross-checking reports against source records to ensure compliance
  

Financial Statement Preparation and Reconciliation

Singapore firms expect offshore team members to deliver financial statements that comply with local regulations and meet client expectations. Our screening process ensures candidates can:

• Prepare accurate, client-ready financial statements in compliance with the Singapore Financial Reporting Standards (SFRS)
• Conduct bank, supplier, and debtor reconciliations to maintain data integrity
• Identify and resolve discrepancies in general ledger and subsidiary ledgers
• Collaborate effectively on month-end and year-end closings, including journal entries and accruals
• Provide supporting schedules and detailed working papers for external review or audit, following Singapore’s best practices
  

Understanding of Singapore Tax Regulations

We look for candidates who understand key Singapore tax requirements and can support firms in meeting these obligations:

• Knowledge of GST, Withholding Tax, Corporate Income Tax, and various tax incentives and relief schemes
• Awareness of compliance deadlines for GST, Estimated Chargeable Income (ECI), corporate tax returns, and regulatory submissions
• Familiarity with the Inland Revenue Authority of Singapore (IRAS) compliance framework and audit readiness
• For senior roles, practical experience supporting clients across different structures—companies, partnerships, and sole proprietorships—and understanding how tax treatments vary accordingly
  

Technical Agility in Cloud-Based Systems

Accounting firms in Singapore increasingly rely on cloud-based systems for efficient collaboration and data security. We prioritise candidates who are confident and agile in:

• Microsoft Excel for reconciliations, data analysis, and financial dashboards
• Google Workspace (Sheets, Docs, Drive) for real-time document sharing and collaboration
• Document management platforms like Dropbox and OneDrive to securely store and share files
• Communication tools such as Microsoft Teams, Zoom, or Slack for seamless cross-border collaboration
• Navigating multiple software platforms to ensure data integrity, security, and smooth integration into your Singapore-based workflows

1.2 Employer of Record (EOR) Services

After choosing the right people for your offshore team, we employ them through our local Employer of Record (EOR) structure. This makes it easy for Singapore accounting firms to hire offshore staff in Malaysia without needing to open a local company.

With FastLaneRecruit as the legal employer in Malaysia, your Singapore team stays in control of day-to-day work and team performance. We handle everything else related to HR, local rules, and legal employment requirements.

Here’s what this looks like:

• Daily Work and Oversight: Your firm maintains full control over the team’s day-to-day responsibilities and workflows, while we handle all local employment documentation and compliance matters.
  
• Local Compliance: We manage the preparation of employment contracts, employee registrations with EPF, SOCSO, and EIS, and oversee onboarding procedures to ensure full compliance with Malaysian employment laws.
  
• Payroll and HR Administration: We take care of monthly payroll processing, payslip issuance, statutory contributions, leave tracking, and annual HR reporting, relieving your team of the complexities of local employment administration.
  
• Ongoing HR Support: We provide continuous HR support to address any employment-related matters, ensuring smooth operations and addressing issues promptly.
  
• Reduced Risk: By utilising our EOR services, your firm eliminates the costs and risks associated with setting up a local entity in Malaysia, providing a secure and compliant framework for offshore team expansion.
  

This model allows Singapore accounting firms to build and manage offshore teams in Malaysia efficiently and cost-effectively. With FastLaneRecruit handling all local HR, legal, and regulatory matters, your firm can focus entirely on serving clients and maintaining high standards of operational excellence.

1.3 Payroll & Compliance Management

At FastLaneRecruit, we oversee all aspects of payroll and compliance management for your offshore team in Malaysia, ensuring that every process is accurate, timely, and fully compliant with local employment laws and best practices.

Our comprehensive payroll and compliance management covers the full administration of employee compensation, statutory deductions, tax obligations, and HR record-keeping. This thorough approach is essential for protecting your firm’s reputation, fostering trust within your team, and ensuring that every offshore employee is compensated fairly and punctually.

1.3.1 Key Components and How We Execute Them

We commence with comprehensive monthly payroll calculations, determining the gross wages, statutory deductions, and net pay for each employee. These calculations are conducted using secure payroll software, ensuring that allowances, overtime payments, and bonuses are factored in accordance with Malaysian employment standards. Prior to finalisation, the payroll data undergoes meticulous reviews to confirm both accuracy and consistency.

We then manage all statutory contributions and deductions as required by Malaysian employment law:

• Employees Provident Fund (EPF), Malaysia’s retirement savings scheme, ensuring accurate monthly contributions by both employers and employees.
• Social Security Organisation (SOCSO), which provides compensation and support in cases of workplace injuries or illnesses.
• Employment Insurance System (EIS), which offers unemployment support for employees in the event of job loss.

Income tax deductions are handled through the Potongan Cukai Bulanan (PCB) framework, where our team accurately calculates and remits these contributions to the Inland Revenue Board of Malaysia (LHDN) within the prescribed deadlines.

Our monthly payroll workflow further includes the preparation and issuance of payslips for all employees. These payslips contain detailed summaries of earnings, statutory deductions, and net remuneration, thereby promoting transparency and strengthening trust within the offshore team.

Accurate leave tracking forms an integral part of our comprehensive payroll and compliance service. We maintain precise records for annual, medical, and other statutory leave entitlements, ensuring alignment with the Malaysian Employment Act 1955 and supporting clear and reliable reporting for both employees and management.

In addition to our monthly responsibilities, we manage the annual reporting obligations by preparing and submitting EA Forms, which are Malaysia’s equivalent to Singapore’s annual income reporting summaries. This ensures that your offshore team remains fully compliant with all relevant statutory obligations.

1.3.2 Why This Matters for Your Firm

For Singapore accounting firms with offshore teams in Malaysia, maintaining compliance with local employment laws is of utmost importance. Effective payroll and HR compliance measures:

• Help protect your firm against potential fines, legal issues, and reputational harm.
• Build trust and engagement among your offshore team, fostering a reliable and committed work culture.
• Ensure that your operations in Malaysia consistently meet the high standards of professionalism and care expected in your Singapore practice.

By handling these processes in their entirety, FastLaneRecruit enables your firm to focus on core accounting services and long-term growth, with full confidence that your offshore team remains supported, compliant, and treated with fairness and respect.

2. Stage 2: Set Up the Workspace

2.1 Workspace Sourcing & Office Setup

For many Singapore accounting firms looking to establish offshore teams in Malaysia, setting up the right workspace is critical for operational efficiency and employee satisfaction. At FastLaneRecruit, we offer comprehensive support for sourcing and setting up these workspaces, ensuring that every offshore team starts with an environment that meets their specific needs.

We begin by conducting a thorough needs assessment, taking into account your team’s size, preferred working model—whether hybrid or fully in-office—and any particular requirements such as private spaces for confidential work, dedicated meeting areas for team discussions, or secure IT infrastructure.

Leveraging our local expertise, we perform in-depth market research and provide detailed comparisons of available workspace options. This approach ensures that you can make an informed decision that best suits the operational needs and culture of your offshore team:

• Coworking Spaces: These offer flexibility, cost-efficiency, and access to shared facilities, making them an ideal choice for smaller teams or firms that value a dynamic and collaborative environment. These spaces typically feature high-speed internet, meeting rooms, reception services, and opportunities for networking events. This arrangement is particularly beneficial for firms exploring offshore expansion without the immediate need for a larger, long-term commitment.

• Private Office Suites: Cater to firms seeking a dedicated, branded, and secure space without the complexities of managing a standalone office. These suites offer enhanced privacy, consistent brand representation, and full control over daily workflows, striking an effective balance between flexibility and professional independence.

• Self-Rented Office Spaces: Best suited for larger teams or firms planning for long-term growth. They offer full control over the workspace layout, increased privacy, and the ability to customise both physical and IT infrastructure. This option ensures a dedicated environment that aligns seamlessly with your firm’s brand and operational culture, particularly important for maintaining data security and client confidentiality.

To support your decision-making process, we develop a detailed comparison report that examines key factors to guide you in selecting the most suitable workspace for your offshore team. This report includes:

• Accessibility and Location Benefits
  Evaluating the proximity to transportation networks, client hubs, and key business amenities to enhance daily convenience and collaboration.
• Financial Efficiency and Leasing Options
  Reviewing how to manage initial costs while maximising long-term value and flexibility in leasing terms.
• Confidentiality and Information Security
  Assessing the capacity of the workspace to protect sensitive accounting data and ensure operational security.
• Future Growth and Team Expansion
  Confirming the workspace’s ability to adapt and scale alongside your team’s growth and evolving needs.

2.2 Virtual Tours and Site Assessments

Our team organises thorough virtual tours and detailed site assessments, offering you a clear view of each workspace’s layout, security measures, and amenities, all without requiring you to travel. This approach ensures you can confidently assess each option and verify that it aligns with your team’s specific operational requirements and expectations.

2.3 Local Negotiation and Lease Management

After you have identified your preferred workspace, FastLaneRecruit acts as your trusted local representative to manage all negotiation and leasing processes. We oversee every detail, from securing favourable rental rates and deposits to finalising agreements for shared facility use and negotiating terms that offer flexibility. Drawing on our deep understanding of the Malaysian market, we ensure you avoid any hidden costs and secure a workspace that fully supports your operational objectives.

2.4 Why Workspace Setup Matters

A well-designed and properly equipped workspace offers far more than just furniture and facilities. It serves as a strategic asset that significantly influences your offshore team’s success and the overall efficiency of your operations.

• Talent Attraction and Retention
  A centrally located and professionally equipped workspace enhances the overall experience for employees, making it easier to attract highly qualified accounting professionals and retain them over the long term. It demonstrates your firm’s commitment to both employee well-being and maintaining high standards of service delivery.
• Scalability
  Selecting the most appropriate workspace model, whether a coworking space, private office suite, or self-rented facility, ensures that your offshore team can expand without logistical challenges. Flexible lease terms and adaptable layouts provide the ability to grow in line with your firm’s changing needs.
• Operational Continuity
  A professional workspace ensures reliable high-speed internet connectivity, secure IT infrastructure, and essential utilities. This creates an environment that supports daily tasks, safeguards data, and promotes effective collaboration with your Singapore office.
  

2.5 Our End-to-End Support

At FastLaneRecruit, we take care of every detail involved in preparing your offshore workspace, allowing you to focus fully on your core accounting business. Our comprehensive support includes:

• Local Expertise and Location Selection
  We draw on our local market knowledge to identify the most suitable areas for your team, balancing convenience, accessibility, and proximity to important business hubs.
• Virtual and Physical Workspace Tours
  We organise virtual and in-person tours so you can directly view workspace options without needing to travel. This ensures you have a clear understanding of layout, security, and available amenities to make the best choice for your team.
• Lease Negotiation and Agreement Management
  We act as your local negotiator, securing the best possible lease terms—including rental rates, deposits, shared facility access, and flexible terms to accommodate future growth.
• Workspace Setup and Readiness
  We manage the full office setup, arranging ergonomic workstations, collaborative areas, and ensuring reliable high-speed internet, power supply, and secure data infrastructure. Our team ensures that all utilities, security features, and regulatory compliance measures are in place, so your offshore team is ready to operate from day one.
  

3. Stage 3: Equip Your Team

For Singapore accounting firms expanding their operations into Malaysia, providing your offshore team with the right tools and technology is crucial to ensuring smooth service delivery and maintaining operational continuity. At FastLaneRecruit, we offer comprehensive support to ensure that your offshore team is fully equipped and prepared to function as an integrated extension of your Singapore operations from day one.

3.1 IT & Equipment Provisioning

We initiate the process by carefully sourcing and configuring IT equipment that adheres to the rigorous standards and performance requirements of accounting workflows in Singapore. Our objective is to ensure that every technological component fully supports your offshore team’s daily activities, enables seamless collaboration with your Singapore office, and meets the highest standards of data security and compliance.

Our comprehensive approach includes:

• Laptops and monitors selected for their capacity to manage accounting software platforms commonly used in Singapore, such as Xero, MYOB, QuickBooks, and other applications essential for the preparation of complex financial statements, reconciliation processes, and client-facing reporting. These devices are chosen for their reliability and speed to support multitasking across various accounting tasks.
  
• Headsets, docking stations, and ergonomic accessories that create a professional and comfortable workspace, reducing strain during prolonged work hours. We understand that clear audio quality and seamless transitions between workstations are critical for maintaining effective communication with colleagues and clients in Singapore.
  
• Printers and document scanners (where required) to support hybrid workflows, particularly for firms that handle both digital and physical documentation for audits, tax filings, or management reporting. We ensure that these devices integrate seamlessly with your accounting software and document management systems.
  

Each piece of equipment undergoes meticulous testing and configuration by our IT specialists to ensure it operates flawlessly within your firm’s technology environment. This process includes setting up user accounts, applying the latest software and security updates, and conducting performance evaluations to verify operational readiness.

By overseeing every aspect of this process, from equipment selection to final configuration, we deliver a fully integrated and operational-ready solution for your offshore team. This comprehensive approach ensures your staff can commence work immediately, seamlessly aligning with your Singapore workflows and supporting client engagements without technical challenges.

3.2 Software Installation & Pre-Onboarding Setup

Prior to the first day of operations for your offshore team, we manage the complete installation and configuration of all essential software to ensure a seamless transition and immediate productivity. This process extends beyond mere setup—it involves establishing a secure and fully integrated environment that reflects your Singapore operations and safeguards sensitive financial information.

Key areas of focus include:

• Accounting software deployment: We install and configure the accounting platforms most relevant to your workflows, such as Xero, MYOB, QuickBooks, and others. This includes creating user accounts, integrating with your existing Singapore systems (where applicable), and ensuring that the software fully supports activities such as the preparation of financial statements, payroll management, and complex reporting.
  
• Secure document management systems: We set up cloud-based platforms such as Google Drive, Dropbox, and OneDrive, ensuring that access controls and folder structures align with your firm’s document management policies. This ensures smooth collaboration on financial records, audit files, and client deliverables, while maintaining compliance with data retention requirements.
  
• Communication and collaboration platforms: We configure tools like Microsoft Teams, Zoom, and Slack to support real-time communication and effective project management across borders. This setup includes establishing user groups for specific client projects, integrating scheduling tools, and testing audio and video quality to facilitate clear and efficient interactions with your Singapore team and clients.
  
• VPN and cybersecurity measures: Acknowledging the sensitivity of accounting data, we establish secure VPN connections and advanced security protocols to protect client information and ensure compliance with Singapore’s privacy and confidentiality standards. This robust framework supports secure file sharing, encrypted communications, and access control based on team roles and client requirements.
  

Our team meticulously validates every aspect of this configuration to ensure that your offshore team can immediately access the digital tools and data required for their roles, without encountering technical difficulties. By aligning these software installations with your Singapore workflows, we enable your offshore team to deliver work that is accurate, compliant, and fully integrated with your operational standards.

This pre-onboarding configuration is not simply a checklist—it is the essential foundation for maintaining operational continuity, protecting data integrity, and delivering a seamless client experience.

3.3 Local IT Support

We understand that even a well-equipped offshore team needs reliable technical support to maintain productivity and security. That is why FastLaneRecruit provides continuous IT support, specifically tailored to meet the operational needs of Singapore accounting firms.

Our support services include:

• Swift troubleshooting and hardware care:
  We promptly address technical problems to minimise downtime, ensuring your offshore team can stay focused on core accounting work. From hardware failures to unexpected software issues, our local IT specialists are prepared to resolve problems efficiently.
  
• Routine system updates and software upkeep:
  We handle regular updates and maintenance of all critical platforms, including accounting software, collaboration tools, and document management systems. This proactive approach minimises vulnerabilities and ensures consistent system performance in line with the standards expected by Singapore firms.
  
• Robust network security and VPN management:
  Recognising the importance of data security in accounting, we continuously manage VPN connections and monitor network security to protect sensitive information. Our practices ensure compliance with Singapore’s data protection and privacy standards.
  
• Equipment upgrades and replacements:
  We proactively manage the lifecycle of your offshore team’s IT equipment, arranging for timely upgrades or replacements as needed. This ensures your team always has access to the most reliable and high-performing tools, supporting sustained productivity.
  

With this end-to-end IT support, your offshore team has the reliability and confidence to maintain consistent, high-quality, and compliant accounting services for your Singapore practice.

3.4 Why This Matters

For Singapore accounting firms, having reliable IT systems is essential—not just a convenience. It plays a critical role in earning client trust and ensuring compliance with regulatory standards. With FastLaneRecruit’s comprehensive support, your offshore team is equipped with the right tools and robust security measures to consistently deliver high-quality accounting services that meet the professional standards set by your Singapore office.

4. Outcome & Results

Our Offering	How It Benefits You
Comprehensive accounting talent	Covers roles from junior staff to senior managers, ensuring alignment with your operational needs.
Substantial cost efficiencies	Achieves savings of up to 60% compared to local hiring costs.
Rapid team setup	Offshore teams can be fully operational within 30 days.
Full compliance and HR support	We handle all aspects of payroll, tax, and employment administration, removing the need for a local entity.
Customised workspace and IT infrastructure	Tailored office and technology solutions to match your team’s work style and tech preferences.

5. Bringing It All Together: Your Offshore Team, Fully Supported

At FastLaneRecruit, we recognise that building a high-performing offshore accounting team in Malaysia involves much more than recruitment. It’s about establishing a fully integrated, secure, and compliant extension of your Singapore operations.

Here’s how we do it:

Stage 1: Build the Right Team
We carefully source and onboard accounting professionals at every level, ensuring they align with your technical requirements and integrate seamlessly into your Singapore workflows.

Stage 2: Set Up a Functional Workspace
We handle all aspects of finding and setting up the workspace, balancing cost-efficiency with your firm’s branding and operational needs.

Stage 3: Equip and Enable Your Team
We equip your offshore team with modern IT infrastructure, essential accounting software, and reliable local support, ensuring they are fully operational and integrated with your Singapore office.

6. Start with a Complimentary Discovery Call

To explore how these stages can support your firm’s unique needs, we offer a complimentary discovery call. This no-obligation session is an opportunity to discuss your challenges and learn how our tailored solutions can bring real value to your business.

We also invite you to visit Malaysia, where you can:

• Meet with the FastLaneRecruit team, who will serve as your dedicated partner in Malaysia.
• Tour potential workspaces to see firsthand the professional environments available for your offshore team.
• Explore our infrastructure and operational processes, giving you confidence in our ability to support your accounting team to the same standards you maintain in Singapore.
• See our IT support in action, including how we manage data security, reliable connectivity, and smooth daily operations.
  

Contact us today to schedule your discovery call and take the first step towards building a smarter, cost-effective offshore accounting team with FastLaneRecruit.