Accounting Productivity Solutions Grant PSG

WLP Group

Take your Accounting Online with Xero & Receive up to 70% Funding

Start 30 Days XERO Free Trial Now !

Productivity Solutions Grants for Accounting Software

(PSG Grants Up to 70% Funding) – PSG Grants Xero

Aside from company incorporation services, W.L.P. group also offers Xero accounting software grant for small businesses under the accounting PSG funding (up to 70%).

We are one of the few accounting PSG Grant approved vendors by Enterprise SG for Xero cloud accounting software. Note that providers need to be approved for each service under the PSG Grant and WLP Group has been specifically approved for the accounting PSG Grant.

Your company can take advantage of Xero and cloud accounting software today! Contact us now to start using accounting software in your business.

What is PSG Grant Solution?

The Productivity Solutions Grant (PSG) was introduced by Enterprise Singapore to support and encourage Small Medium Enterprises (SMEs) in Singapore to adopt IT solutions for enhancing business processes. The PSG Grants are further enhanced as announced at Supplementary Budget 2020 to fund up to 70% for IT solutions and equipment. SMEs are strongly encourage to kick-start digitalisation for their business with PSG support and funding, such as Xero Accounting System Grant Singapore to help with productivity solutions grants for accounting software. This will be especially helpful for SMEs in Singapore as PSG grants for accounting will make available Xero for SMEs in Singapore.

At W.L.P Group, we offer company incorporation services and Xero Accounting Software under PSG funding (PSG Grants Up to 70%). We also provide free HR shared service consultations. With PSG Grants Xero, you can take advantage of Xero in your accounting. Xero is one of the IRAS accredited software and is compliant with all IRAS requirements. Aside from the Xero accounting grant, Xero also offers functions such as inventory management, project management, online payments, e-invoicing, expense claims etc. Therefore, taking advantage of Xero accounting system will help you to focus on your business and lower your fixed costs!

What is Xero cloud accounting software?

Xero cloud accounting software is basically a web application. Instead of downloading the application to only one computer or having to link your computer to a mainframe, cloud accounting software allows you to use the accounting software on a website – e.g. xero.com.

This may not sound very fancy but cloud applications were not the default 10 years ago. It’s not until recently where all applications are expected to be on the web and on the “cloud”. This, of course, includes Xero and other accounting softwares.

Xero | START-UP Package (For New Companies)

Productivity Solutions Grants for Accounting Software | START-UP PSG Grants for Accounting Package Includes:

  1. Xero Subscription Fees (1 year)
  2. Xero Initial Set-up
    • Customization of Dashboard
    • Invoice Templates
    • Chart of Accounts
    • Tracking Categories
    • Linkage of Banking Accounts
    • Initialization of User Access Rights
  3. Training Session for User(s)
    • Personalized Training
    • Customized Modules
    • Chart of Accounts
    • Training Materials
    • Certification of Completion

*Call us at +65 6493 2970 for a free Xero Set-up consultation (PSG Grants Up to 70% Funding) and quotation, or any questions regarding Xero for SMEs in Singapore or PSG grants for accounting.

Xero | BOOMING Package

Xero | BOOMING Package Includes:

  1. Xero Subscription Fees (1 year)
  2. Xero Initial Set-up
    • Customization of Dashboard
    • Invoice Templates
    • Chart of Accounts
    • Tracking Categories
    • Linkage of Banking Accounts
    • Initialization of User Access Rights
  3. Xero Opening Balance Migration:
    • Conversion Balances Set-up
    • Accounts Receivable Balance Migration
    • Accounts Payable Balances Migration
  4. Training Session for User(s)
    • Personalized Training
    • Customized Modules
    • Training Materials
    • Certification of Completion

*Call us at +65 6493 2970 for a free Xero Set-up consultation and quotation!

Why W.L.P Group? (Hint: We’re one of the PSG approved vendors!)

Established since 2013, W.L.P Group has assisted more than 1,000 satisfied Small-Medium Enterprises (SMEs) in their financial accounting and tax matters, as well as making available Xero for SMEs in Singapore. We are also one of the PSG approved vendors. We are approved by Enterprise SG and only approved PSG grant vendors can offer services under the government grant.

W.L.P Group excels at guiding venture-funded startups through their expansion, series funding and acquisitions and have also worked with founders of various industries on their growth scenario and cash flow planning and hence, helping small-medium businesses to benefit from our management accounting focus by making available Xero for SMEs in Singapore (PSG Grants Up to 70% Funding).

Furthermore, W.L.P Group is highly recommended by corporate subsidiaries for our personalized attention and seamless integration between our accounting and company secretarial functions.

Since 2016, W.L.P Group is officially certified as a partner and advisor with XERO.

FAQs about Accounting PSG Grant

What is the requirements and eligibility for the accounting PSG Grant?

  • Looking to take advantage of PSG Grant for accounting software? In order to qualify for the Xero PSG Grant, your company must fulfil the following criteria:
  • Your company must be classified under Small or Medium Enterprise (SMEs) where operations are mainly carried out in Singapore
  • To claim PSG grants for accounting, local Shareholding of the company must be at least 30%.
  • Annual Sales Turnover must not exceed S$100 Million and the company must not have more than 200 employees

How can I claim the accounting PSG Grant after engaging accounting services with a firm?

Step 1 – Contact W.L.P for a free consultation regarding the Xero PSG Grant. We will tell you if your business is suitable and meets the PSG Grant prerequisites. We will also give you more details about the PSG Grant and companies that we’ve helped set up Xero for. We will also tell you about the claim process to get the 70% subsidy from the government.

Step 2 – Submit application on Business Grants Portal for assessment of Xero PSG Grant claims.

Step 3 – Acceptance of W.L.P quotation and make payment of 50% of invoice value for work commencement.

Step 4 – Plan your Xero account’s set-up, initial migration and implementation with our accountants.

Step 5 – Settlement of the remaining 50% of payment for Xero and accounting services upon completion of the set-up.

Step 6 – Submit invoices for claims on Business Grants Portal (www.businessgrants.gov.sg).

Cover up to 90% of out-of-pocket expenses with SFEC

One of the key advantages of using a cloud accounting system, and claiming the Xero accounting system grant in Singapore (PSG Grants Up to 70% Funding), is keeping your financial records more accessible and making entries of account payables, managing your receivables and even reconciliation of your business banking account without much effort as compared to the traditional way of accounting.

You can also easily generate reports such as your profit and loss, trial balance, and ledgers statements anytime. This is perfect for tracking your business cash flow rather than waiting for your accountants to generate a yearly report only after your financial year ended.

The Xero accounting system grant helps SMEs to go through the process of accounting much easier. However, as much as an accounting system can do, it highly depends on the user’s knowledge of business accounting and taxation to generate perfect and accurate financial records. Taxes such as Government Service Tax (GST), corporate taxes can be complicated with the exceptions and regulations on what can and cannot be claimed.

For business owners who are not well versed in terms of accounting and taxation, we will still recommend having an accountant as part of your team to ensure that there is no mistakes and timely generation of reports for the relevant agencies.

At W.L.P, we provide customised services according to your business requirements while building a relationship with you that assists to helps you grow and manage your business with Xero (especially now with Productivity Solutions Grants for Accounting Software):

Xero Implementation: Initial set-up of your Xero account (after claiming the PSG Grants for Accounting) including invoice templates, chart of accounts, dashboard

Xero Training: Customised training based on your Xero set-up from basic to advanced modules on how to fully utilise the functions of Xero

Data Migration: Seamless migration of previous financial year’s data from traditional accounting or even from previous accounting system

Xero Support: Immediate support for Xero accounting software via phone or email with a dedicated experienced accountant for your accounting matters

Accounting and Tax Services: Ensuring that your financial data in Xero are accurate and in accordance to exemption and regulations. Generation of Tax returns of year-end submission.

“Technology is not about fancy and expensive high-end solutions”

Enterprise SG (source)

Applying for This Accounting Software Grant is Easier Than You Think

A lot of small business owners doubt the PSG Grant. Maybe you’ve never applied for a software grant or government grant before. Maybe this is your first time hearing about the PSG Grant.

But the process of applying for this government grant isn’t complex or difficult. Our consultants and accountants have helped many small business owners like yourselves in Singapore and everyone can see the benefit of easier accounting and lower bookkeeping costs after moving over to Xero.

Try it out for yourself today!