Automated Financial Reporting Tool Singapore | Statutory Accounts Automation

Automated Financial Reporting Tool

At OutsourcingWise, our Automated Financial Reporting Tool is designed to simplify and accelerate the way businesses handle financial data.

The Challenge

Course Objectives

Agency for Integrated Care required a customised financial reporting tool that could produce statutory annual financial statements in the format prescribed by the Ministry of Health.

Course Outline

The existing process required significant manual preparation — mapping trial balance data to MOH-prescribed statement formats, applying accounting treatments, and reformatting outputs for submission to ACRA and external auditors.
The client needed a tool that could be operated by their in-house finance team year on year, without requiring external support for each annual cycle. It also needed to produce output in Word document format, ready for direct submission.

The Solution

OutsourcingWise designed and delivered a customised Excel workbook that:

Accepts trial balance data and additional source inputs from the finance team
Applies the required accounting classifications and disclosure treatments automatically
Generates a complete set of statutory annual financial statements in MOH-prescribed format
Exports the completed financial statements as a formatted Word document ready for ACRA submission and auditor review
Includes input validation to flag missing or inconsistent data before the statements are generated

Delivery included a written training manual, video walkthroughs explaining each step of the tool operation, and twelve months of post-implementation support covering technical queries, annual updates for changes in MOH reporting requirements, and assistance during the first live reporting cycle.

The Results

Statutory reporting automated

Word document output generation

Post-implementation support

Submission-ready output

Finance team can operate the full statutory reporting process independently each year
Eliminates manual reformatting and reduces the risk of presentation errors in submitted accounts
ACRA-ready and auditor-ready Word output reduces back-and-forth with external parties
Tool is maintainable — designed to accommodate annual changes in MOH reporting requirements without full rebuilds