Productivity Solutions Grants for Accounting Software (PSG Grants Up to 80% Funding) – PSG Grants Xero
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 80% 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 Singapore services and Xero Accounting Software under PSG funding (PSG Grants Up to 80%). We also provide free HR shared services Singapore consultations. With PSG Grants Xero you can take advantage of xero for accounting, one of IRAS accredited software that is compliant with IRAS requirements. Aside from Xero Accounting System Grant Singapore, Xero also offers functions such as inventory management, project management, online payments, e-invoicing, expense claims etc. Therefore, taking advantage of Xero Accounting System Grant Singapore will help you to focus on your business and lower your fixed costs!
For more information regarding productivity solutions grants for accounting software (PSG Grants Up to 80%), kindly contact us in the form below.
Xero | START-UP Package (For New Companies)
Xero | BOOMING Package
Why W.L.P Group?
Subsidy under the PSG Grants Xero
Productivity Solutions Grant FAQs
PSG GRANTS FOR ACCOUNTING REQUIREMENTS AND ELIGIBILITY?
Looking to take advantage of Productivity Solutions Grants for Accounting Software? In order to qualify for the PSG Grants Xero, 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
PSG GRANTS XERO CLAIM PROCESS
Step 1 – Contact W.L.P for a free consultation regarding PSG Grants Xero suitability and providing Xero for SMEs in Singapore (PSG Grants Up to 80% Funding)
Step 2 – Submit application on Business Grants Portal (www.businessgrants.gov.sg/) for assessment of PSG grants xero claims
Step 3 – Acceptance of W.L.P Quotation and make payment of 50% of invoice value for work commencement
Step 4 – Planning of Xero Set-up, initial migration and implementation
Step 5 – Settlement of remaining 50% payment of Productivity Solutions Grants for accounting software upon completion of set-up
Step 6 – Submit invoice(s) for claims on Business Grants Portal (www.businessgrants.gov.sg)
Do I still need an accountant if I use Xero Accounting System Grant Singapore?
One of the key advantages of using a cloud accounting system, and claiming the Xero Accounting System Grant Singapore (PSG Grants Up to 80% 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 etc. anytime of the year which 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.
Xero accounting system grant Singapore helps SMEs to go thorugh the process of accounting much easier (PSG Grants Up to 80% Funding). 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 customized 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: Customized training based on your Xero set-up from basic to advanced modules on how to fully utilize 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.