singapore accounting software

How Product Solutions Grant help SMEs competitive?

Best psg grant software in singapore














Technology Innovation needs not to be expensive. For SMEs who would like to take a deep claim the Productivity Solutions Grant enables them to support companies keen on implementing IT solutions. State-of-the-art technical elucidations help to drive capability and growth in a company that allows SMEs to stay relevant and becomes more competitive.

For any business to grow employee productivity play a major role and crucial to ensure that the services and products offered to the clients or customers are effective and efficient. With more and increased productivity, a business can grow consistently and focus on acquiring and retaining new clients and new customers. However, to improve productivity, Small Medium Enterprises (SMEs) need to adapt and involve technological solutions and have to introduce these innovations into their core business operations. These solution implementations make the internal processes more effective and efficient and productive allowing SMEs to remain competitive and explore more new opportunities in the upgrading world.


How can SMEs benefit by adopting technology to their operations?

For example, an SME can increase their efficiency and productivity by implementing automation and streamlining the quotation and invoicing processes or managing essential HR services like payroll or leave. SMEs can also take the most advantage of e-commerce platforms to access new customers across borders. Of course, implementing technological solutions may take time and require a heavy capital investment. It is absolutely real necessary in the longitivity thanks to the cost benefits it can bring. It is necessary for sustainable growth too.”

SMEs that are looking into incorporating innovative technological solutions and equip their business operations but are hesitant because the investment can focus on Productivity Solutions Grant (PSG) for funding support of up to 70%. The PSG provides support for the adopting IT solutions and equipment that have been pre-scoped by the industries’ lead agencies. The list of readily adaptable solutions can be found easily in all business directories of Singapore.

What type of industries does the PSG cover?

The PSG (Productivity Solutions Grant) covers sector-specific solutions in the retail, food, logistics, precision engineering, construction and landscaping industries. However, if your SME does not fall in any of the categories listed in the industries, there are readily adaptable solutions that cut across industries – such as digital customer relationship management and human resource management systems.


How do you apply for the PSG?

SMEs can apply for the grant if they are registered company and operating in Singapore. The SMEs need to ensure that the purchase, lease, subscription of the IT solution or equipment must be used in Singapore. To apply, identify relevant information and solutions by looking through the list of supportable solutions here or on Tech Depot. Get a quotation from the pre-approved vendor like Onestop Accounting Software if you are interested in an IT solution or equipment.

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Multi Features of Small Business Accounting Software

Multi Features of Small Business Accounting Software

Business Intelligence

Small Business Accounting Software gives you production financial reporting, dashboards, Business Intelligence coupled with drill-down all in one package.

Easy-to-use, fast, powerful reporting without IT

Graphical visualization

Accurate info in real-time

On-demand dashboards and pivots


Enhances your control and oversight of all internal control functions by providing a visual medium for the setting up and monitoring of all your authorization and review processes.

Visualize then actualize your approval process

Automatically route tasks and assignments

Automates responsibility and accountability while providing visual clarity of routing activities

Budgeting & Forecasting

Budget and forecast your organizations long and short-term goals. Create budget approval workflows and compare budget to actual results. Budget various ways using general accounting structure, payroll or allocations.

Collect budget inputs into a single point of truth

Improve budget planning driven by behavioral analysis of historical data

See process status at a glance

General Ledger

Puts the financial information you need within reach, and guarantees you timely access to the information your organization requires, both now and into the future.

Helps you comply with regulators & auditors

View performance data from any perspective, from a single database

Eliminate errors & extra work

Operate in multiple currencies

Accounts Payable

Gives you complete control over payments and payment strategies, without the need to involve your IT personnel to get the job done. Built-in policy tables enhance control, speed processing and make it easy to tailor system functions to your unique requirements.

Control cash with ease

Get the most out of your banks

Enhance vendor relationships

Accounts Receivable

A comprehensive system for managing receivables, cash receipts and customer credit that allows you to control this critical business function, yet retain the flexibility you need to adapt to changing business conditions.

Collect cash efficiently

Stay ahead of credit and collection problems

Adapts to any business model, so work the way you know best

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Increased Adoption of Accounting Software

Adoption of Accounting Software, Cloud Accounting Software, Accounting Software, Singapore Accounting Software

Accounting Software automates and accelerates the work of an accountant or bookkeeper by reducing or simplifying recurring tasks like paying bills, entering double entries, issuing of invoices and generating several types of financial reports. These days various Accounting Software has an auto-matching feature which facilitates the performance of monthly bank reconciliation.

With the introduction of Cloud Accounting Software, it brings immense convenience to users by allowing them to simply record transactions, retrieve accounting information, issue invoices and produce reports on the go, anyplace and anytime. For businesses, such convenience at a reasonable cost only means bigger adoption of the Accounting Software over the years. We trust its popularity will keep on going.

New buyers made up a major portion of the market for accounting software last year, at 37 percent. More companies are finding that inheritance accounting systems can’t stay up with their needs and say that online accounting software is more in line with their company processes. The findings, revealed in a survey, point towards an express increase in the adoption of accounting software, as well as the adoption of cloud computing.

More than one-third of upgrades last year was QuickBooks users, and 11% come from Sage 50. One-fifth of buyers were looking for functions that go beyond accounting, such as payroll, inventory and invoicing. Bigger companies tended to hunt for business intelligence capabilities: Businesses with more than 50 employees were over 70 percent more likely to need software that handles budgeting, business intelligence, and fixed assets.

The buyers looking for the major additional feature aside from core accounting, invoicing, inventory management, payroll, order management, and procurement.

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Popular Technology Skills in Accounting & Finance

Popular Technology Skills in Accounting & Finance

Advanced Analytics & Forecasting

Many reports say hiring professionals with skills in predictive and prescriptive analytics is important. This includes data analysis expertise, which promises to bring greater control to the Finance function. There are huge amounts of information that can expose significant insight and improvements when harnessed suitably. Simultaneously, technical expertise in cybersecurity is necessary to cope with the risks that big data can fetch.

Robotic Process Automation

Estimated to greatly enhance productivity, automation threatens to make many Finance and Accounting roles outdated. As technology streamlines processes and eliminates inefficiencies, the focus shifts to building a highly planned Finance team that acts as an exact business partner to both internal and external stakeholders.

Cloud & SaaS

Cloud & SaaS technologies allow for the reformation of processes as several parties can easily access the same information, also increasing flexibility and agility across the organization. As well, costs can be significantly reduced as on-premise infrastructure is no longer as essential, and companies can rapidly increase or decrease the number of applications they use according to their workflow and demand.

Artificial Intelligence

Artificial intelligence holds great potential in building on data analytics and RPA in Accounting and Finance. The ability to identify patterns, learn from them, and adapt could make addressing regulatory and tax changes and what they represent for each unique business severely easier. The insights and recommendations that AI produces will also transform many other areas, such as improving risk management.


A promising technology making a big effect in Accounting and Finance is blockchain. Numerous organizations are beginning to implement this technology that reinvents the digital ledger while increasing simplicity and security at the same time. A massive number of payments and transactions can be conducted quicker and more perfectly than ever before, and this promises foundation-changing improvements across the industry.

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How To Prepare For The Day After Tax Day

How To Prepare For The Day After Tax Day

Here’s everything you need to know about the day after Tax Day, and how you can prepare yourself so that you’re not caught off guard by competitors who refuse to acknowledge the existence of their vacation days.

The medicine that’s the most bitter to consume is often the most successful get therapy, which is why accountants and tax professionals would like to fold up and ready to work, despite the fact that they’re most likely readier than ever for a break after Tax Day. While it’s undeniable that the accounting and tax professionals deserve an extensive breather after the unbelievable workloads they deal with every year as Tax Day draws near, the competitive reality is that in today’s marketplace, you can’t really afford to take a day off so soon.

Yes, as sour as it is to confess, most accounting professionals need to admit that the day after Tax Day needs to be spent gearing up for next year and that your clients will soon be flooding you with questions yet again.

First and foremost, start planning as soon as possible, and have a must-call-list on hand to get in touch with your most important clients in the event that a tragedy occurs. Most accountants put off a great deal of work when Tax Day is approaching, too, as they’re cluttered up with the last-minute rushing of their clients, so you’ll want to carve out some extra time to deal with the problems you’ve been pushing off for some time now, too.

Making the day after Tax Day profitable

The day after Tax Day is one of the hardest to work; with the exemption of perhaps the day after a major holiday, there seems to be no other time when accounting and tax professionals are ready to take a break. Making the day after Tax Day profitable, then, will be extremely demanding of you, and will take a certain commitment to time management if you’re to find success.

Mastering these important tips paying attention to managing an accountant’s really busy schedule will thus prove crucial towards your long-term success. Similarly, as your professional time needs to be extensively accounted for, your personal time after Tax Day should also be extensively managed; personal engagements and hobbies, such as checking free arrest records, may need to be temporarily postponed, as unfortunate as it is to say, if your professional goals are still to be met. Never forget that the day after Tax Day is almost always busier than many rookie accountants and tax pros expect.

Still, despite the increased workload you can expect to face around tax season, it’s still significant that you find some time for yourself; accountants who overdo it themselves are all but certain to be those professionals who burn out brightest and first, after all. Don’t be afraid to take some time to stop and smell the roses, or you’ll be of no use to your clients in the immediate aftermath of the highly-dreaded Tax Day.

Finally, get a head start on preparation for your vacation. Keep your eyes on your long-term goals, and don’t let your guard down on the day after Tax Day, and this year’s post-tax season will be a gentle wind for you before you even know it.

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