What is the PSG Grant?  

The PSG Grant is a government initiative by Enterprise SG to help Singapore SMEs adopt new technologies. Its goal is to improve business operations and boost efficiency.  

Clooud Consulting is a pre-approved vendor for the PSG Grant, offering Xero setup , data migration and Xero training . With this grant, you can get up to 50% funding when you work with us!

How Can Xero Help Your Business Work Smarter?

Xero is a powerful accounting solution designed to streamline your business operations. Here’s why it’s an excellent choice for SMEs:  

• Cloud-Based Convenience
  With Xero accounting, all your financial data is securely stored in the cloud. This eliminates the risk of losing important files on hard drives or dealing with outdated software. Your records are safe, accessible, and always up to date, just like emails on Gmail.  

• Real-Time Financial Reporting
  Xero connects directly to banks like UOB, DBS, POSB, and OCBC, syncing your data automatically. This allows you to generate real-time financial reports—income statements, balance sheets, and cash flow statements—using today’s numbers, not just last year’s data. 
  
• User-Friendly Design
  Xero stands out among accounting software like Oracle and QuickBooks for its simplicity and ease of use. It’s tailored specifically for SME owners, making it easier to manage your finances without needing advanced accounting expertise.  
  
• Wide Support Network 
  Xero is widely used in Singapore, so you’ll find plenty of Xero bookkeeping firms and online resources to help you. This gives you more options when selecting a trusted accountant or finding solutions to accounting queries. 

Switch to Xero accounting today and experience how it can make managing your business finances simpler, faster, and more efficient! 

What’s the Process for Applying for the PSG Grant?

Applying for the PSG Grant is straightforward as long as your business meets the requirements, such as having at least 30% local shareholding. Our accountants and consultants are here to guide you through every step. 

Here’s how it works:  

• Eligibility Check
  We’ll first ensure that your business meets all the necessary criteria for the grant.  

• Service Onboarding
  Once eligible, we’ll assist you in setting up and onboarding our services seamlessly. 
  
• Grant Claim Process
  You’ll need to pay 100% of the service cost upfront. Afterward, you can claim and receive up to 50% of the cost as a subsidy. 

Our team will support you throughout the process, making it easy and hassle-free. Let us help you unlock the benefits of the PSG Grant for your business today!

The PSG Grant Won’t Last Forever—Act Now

The PSG Grant, launched in April 2018, has already been extended several times and reduced in funding from 80% to 50%. Its previous end date was 30 September 2021, but there’s no guarantee it will continue indefinitely.  

Adapting to new technologies isn’t just optional—it’s essential to stay competitive. Imagine relying on outdated methods like writing in physical ledgers and doing manual calculations. It’s simply not efficient in today’s fast-paced world.  
With Xero, you can streamline your accounting processes and improve efficiency, and the PSG Grant offers you the chance to do so with a 50% subsidy. Don’t wait until it’s too late. Take advantage of this support now and stay ahead while others are already improving their operations. Missing out could leave your business behind.

Take Your Business to the Next Level with Xero PSG Grant

Don’t miss this great opportunity to modernize your business and improve efficiency. Contact us today to learn more and start your PSG journey with Clooud Consulting!  
Take advantage of the 50% PSG Grant, making Xero Cloud Accounting more affordable and accessible for your business. Let’s explore the best options for your needs—reach out now! 

What is InvoiceNow?

InvoiceNow lets you send invoices directly from one financial system to another in a structured digital format through the Nationwide E-delivery network, based on Peppol. This enables automation, making invoicing smoother and speeding up payments. Both small businesses and large companies can benefit from faster invoice processing with no need for manual paperwork.

Send and receive e-invoices easily with InvoiceNow. Xero’s e-invoicing software allows you to exchange invoices between different business accounting systems using InvoiceNow. Work smarter with Xero’s easy-to-use invoicing software. With Xero, you can send invoices, automate reminders, and more, all from your desktop or mobile app. Handle your invoicing whenever it suits you and your small business.

Customize Online Invoices
Add your logo to give your online invoices a personal and professional look.

Offer More Payment Options
Improve your business by providing various payment methods for your customers.

Set Up Automatic Reminders  
Let us handle payment reminders for you, so you don’t have to chase them.

Create Invoices on the Go
Send invoices directly from your phone with our app. Find out more on how to send invoices easily with Xero.

Benefits of using InvoiceNow with Xero

• Customize your online invoices easily with Xero. You can create and send professional invoices using Xero’s user-friendly software. Design one or more invoice templates, add your logo, set payment terms, and include a standard message or additional fields to fit your needs.

• Make it simple for customers to pay online by using third-party payment services. When you offer more payment options, it benefits both your customers and your business. You can add a 'Pay Now' button to online invoices for one-click payments. With Xero, you can accept debit and credit cards, direct debits, and even card payments through Stripe and other services.
  
• Set Automatic Reminders. Make it easier to follow up on payments by sending automated reminders to your customers. You can decide how often reminders are emailed, whether it's before or after the due date. Plus, you can easily track when each reminder was sent.
  
• With the Xero mobile app, you can easily create and send invoices right from your phone or tablet. Add new customers whenever needed, track when a customer has viewed an invoice, and get instant notifications when you’ve been paid. While on the go, you can also check for any unpaid invoices directly in the app.

How to sign up to receive e-invoices in Xero

• Connect your Xero account to the Invoici app, authorize with CorpPass, and register to send and receive e-invoices.
• You must be in Singapore and have a Unique Entity Number (UEN) to register.
• Each Xero account can only have one UEN, so it can only handle e-invoices for one entity.
• You'll get a Peppol ID to share with suppliers so they can send invoices directly to your Xero account.
• If your customer is on the Peppol network, you can send invoices directly to their accounting software.
• Invoices are sent in a standard format, so they work with other systems, even if they don’t use Xero.
• Electronic purchase orders (ePOs) from businesses or government agencies will appear as draft invoices in Xero.

Do I need a separate platform for e-invoicing in Xero?

No, you don’t. Xero is an accredited e-invoicing Access Point, and this is already included in your subscription. You can send and receive e-invoices directly within Xero without needing any extra services or add-ons.

However, you do need to register to receive e-invoices, which can be easily done in the "Bills to Pay" section of Xero with just a few clicks.

Managing Invoices with Xero

Managing invoices can take a lot of time for advisors, from chasing clients for documents to entering details manually into software. But e-invoicing offers a solution. It lets you exchange invoices directly between accounting systems, making the process faster, more secure, accurate, and efficient.

With e-invoicing, you can streamline your workflow, freeing up time for more important tasks. It’s also a key part of digitizing small businesses and addresses issues like late payments while enhancing security.

As more businesses and government agencies join the network, the benefits of e-invoicing continue to grow.X ero’s powerful features, along with strong support from the government for digital changes, make it a top choice for small and medium-sized businesses in Singapore. It works well with local financial systems and compliance rules, helping businesses improve their operations and manage finances better.

What does Clooud Consulting do for Xero setup?

Clooud Consulting helps you set up Xero by customizing the software for your needs, providing training, and offering ongoing support to ensure everything runs smoothly.

At Clooud Consulting, we understand how crucial it is to quickly meet your business needs. We focus on making the move to Xero from another system as smooth and efficient as possible. From the initial discussion to full setup, our team ensures a hassle-free transition so your business can continue running smoothly. Contact us today to get started with Xero.

Get up to 50% funding support with the Productivity Solutions Grant (PSG) when you use Xero through an approved PSG vendor.

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. It helps companies adopt IT solutions and equipment to improve their business processes.

PSG supports solutions used across various industries, including customer management, vendor management, bank reconciliations, project costing, expeneses claim, data analytics, financial management, and inventory tracking.

Announced in the Supplementary Budget 2020, PSG has been improved to encourage businesses to continue digitalizing and enhancing productivity. Starting from April 1, 2023, the grant will cover up to 50% of the costs.

Who Can Apply for the PSG?

SMEs can apply for the PSG if they meet these criteria:

• Registered and operating in Singapore
• IT solutions or equipment must be used in Singapore
• At least 30% local ownership
• Annual sales of no more than S$100 million or fewer than 200 employees

Applying for the PSG grant with Xero

1. Get a Quote:
   Obtain a quotation from a pre-approved Xero vendor.
   
2. Submit Your Application:
   Go to the Business Grants Portal (BGP) and submit your application. You will need to register for a CorpPass account to use the portal.

Eligibility

• The business must be registered and operating in Singapore.
• The company must have at least 30% local ownership by Singaporeans or Singapore Permanent Residents.
• The company’s annual sales must not exceed S$100 million, or it must have no more than 200 employees.
• The IT solutions or equipment must be used in Singapore.
• The company must not belong to certain excluded categories.

Documents and Information Needed for PSG Grant Application

You need to provide the following documents when applying for the Productivity Solutions Grant (PSG).

Which services are not covered by the grant?

Businesses that cannot apply for the PSG in Singapore include:

• Charities and Institutions of Public Character (IPCs)
• Religious organizations
• Voluntary Welfare Organizations (VWOs)
• Government agencies and their subsidiaries

Benefits of Choosing Clooud Consulting for the PSG Xero Accounting Grant

• Expert setup and configuration of Xero
• Connecting automatic bank feeds with local banks
• Certified Xero Advisors for in-depth training
• Assistance with GST setup and quarterly reports
• Friendly and patient team for clear communication
• Customized support for startups
• Fast system setup
• Detailed discussions on compliance requirements
• Personalized training sessions for practical learning

Contact Clooud Consulting

Don't miss this great opportunity to modernize your business and boost efficiency. Contact us today to learn more and start your PSG journey with Clooud Consulting! Get in touch now to find the best options for your needs.

We are excited and proud to announce that Clooud Consulting is a finalist for the "Small Accounting Partner of the Year" award at the Xero Asia Awards 2024.

First, we want to thank Xero for organizing this amazing event that honors the hard work and achievements of accounting and bookkeeping partners in Singapore. This event shows how dedicated and passionate people in our industry are.

The awards for small, medium, and large practices honor Xero accounting partners across Asia. These awards recognize partners who have shown leadership and achieved great success with Xero. Our selection as a finalist reinforces our commitment to excellence, resilience, and innovation in the industry. Our team dedicates itself to using Xero's tools to help businesses. We streamline accounting so you can focus on reaching your goals and dreams.