We Provide Xero Cloud Accounting Solution Upto 80% Productivity Solutions Grant (PSG)

Click here for a Step by Step Guide on How to Apply PSG.

Xero is a widely used cloud-based accounting software for small to medium-sized organizations.
Timcole is one of the few PSG-approved Xero partners in Singapore. It’s Xero Implementation packages are designed to help small businesses improve their back-office productivity, especially in the area of enabling small business owners to keep track of their accounts in a proper and more accurate manner.

Benefits of using Xero

By implementing the Xero Solution, SMEs can perform the following functions in an easier and effective way:

– Auto-generation of sales quotes and invoices.
– Including the tracking and monitoring of the payment status and sending of reminders for payment
– Capturing of all receipts and supplier invoices in a digital method, without having to keep all the physical documents forever.
– Using Xero to track Inventory Management for Trading and e-Commerce Companies
– Xero to automatically perform accounting double entry, such that a user (without Accounting Knowledge) can maintain and track their own books.
– Generation of management reports for decision making purpose.
– Xero also provides a basic Payroll Management system to track and manage monthly payroll processing.
– Xero provides auto bank feed from all local bank to facilitate easier bank reconciliation
– Xero connects to the Peppol E-invoicingnetwork in Singapore to speed up your invoicing process. It also helps you get paid faster and helps with having healthier cash flow for your business.

What is the Productivity Solutions Grant?

The Productivity Solutions Grant (PSG) is a joint initiative by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore. The grant aims to promote and support companies in adopting IT solutions and equipment that can enhance business processes.

How do a company apply for the PSG Grant?

To apply for any PSG funding, a company can:

1. Visit Tech Depot and get access to a list of supportable solutions and choose the relevant solutions to their businesses.
2. Obtain a quotation from the listed approved vendors under the grant. If you need an accounting software, Timcole is one of the few pre-approved vendor to provide the Xero PSG 80% government subsidy.
3. Submit an application on the Business Grants Portal (BGP). A CorpPass account is required for the login.

Who is eligible for the PSG?

SMEs can apply for the PSG if the meet the following criteria:

• Registered and operating in Singapore
• Subscription of the IT solutions or equipment must be used in Singapore
• Have a minimum of 30% local shareholding (for selected solutions only)

How long does it take to process and disburse the claim?

The claims are normally processed within 4-6 weeks upon the submission.

How will a company be notified of the claim disbursement?

Upon approval and confirmation of the claim transaction, an email will be sent to the email address stated on the BGP.