Cloud Accounting Services

Cloud Accounting services is gaining popularity in recent years, as more and more businesses adopt this technology and solution. Cloud accounting offers numerous benefits businesses and below are some of the more prominent benefits of using this kind of technology solution.

Advantages of using Cloud Accounting Softwares

  1. You only pay a monthly subscription fee and you do not need to invest in expensive physical hardware and its maintenance. Cloud services eliminates the need to maintain expensive desktop/computer hardware, and hence provides you with an overall lower cost of ownership over the longer term.
  2. Business information can be accessible anywhere at any time, so that you no longer need to worry about time or geographical limitations. You don’t have to wait till you reach your office before you can create an invoice for your client or a purchase order. All this can be done easily from anywhere, anytime using any computer or smartphone.
  3. With Cloud Accounting Software, it simplifies and facilitate collaborative work. For example, you can have many different users working on the same system at different geographical location. If you need to outsource your data entry or book-keeping work to say India, all you need is just to provide the outsourced user a user id to access the same system on a real time basis, without the need of sending data files to them every time.
  4. As you only require to pay a monthly access fee to use a cloud bookkeeping software, you don’t need to invest in expensive one-time perpetual software licenses, hence it minimise your capital expenditure (CAPEX) spending. Also, the subscription can be stopped by providing a short notice (typically 1 month) to your supplier.
  5. Cloud accounting software programs are updated automatically by the service provider. Whenever, there are any bug fixes or software upgrades, you no longer need to hire an IT guy to assist in the update maintenance.
  6. No IT staff is needed to maintain or update the online accounting system, resulting in greater business savings.



Xero is one of the most popular Cloud Accounting Software for SMEs in Singapore. We highly recommend the subscription of this software for all our book-keeping clients because of its feature-rich application, friendly user interface, and low cost of ownership.

As a Certified Partner/Advisor for Xero Cloud Accounting Software, we can offer the following Xero-related services to our clients.

Fee Guideline

Basic Software Set-up & Configuration
(including Template Customisation)
$300 – $500
Admin and End-user Training From $250
Data Migration From $250
Xero Software Subscription From USD20 Per month


ReceiptBank is another productivity cloud-based software that we use to facilitate the photo-snapping of various receipts/expense vouchers, without the need to keep physical paperwork anymore. With its built-in Data Extraction feature, the system will automatically extract the necessary data field and publish them directly into any supported accounting software without manual data entry work.

Timcole is a certified partner for Receipt Bank in Singapore.

Why Choose Timcole?

Timcole is one of the leading company incorporation and accounting firm based in Singapore. Our wide range of professional services serve as a one-stop solution for your business, offering you the most affordable price for services conducted with the highest level of excellency. Contact us to find out more on how we can help you with your company today.