The Productivity Solutions Grant (PSG) aimed at assisting Singapore’s businesses interested in implementing IT solutions and equipment to improve their operations.

Starting from 1 April 2023, the maximum funding support will be capped at 50%.

• Business entity is registered and operating in Singapore
• Company has at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
• Company has a Group Annual Sales Turnover not exceeding S$100 million OR Group employment size not exceeding 200 employees
• IT solutions or equipment that are purchased, leased, or subscribed to must be used in Singapore.
• Company does not fall under these categories: Charities, Institutions of Public Characters (IPCs), Religious Entities, Voluntary Welfare Organisation (VWO), Government agencies and subsidiaries, and societies cannot apply for this grant.

12 Months Xero Premium subscription for unlimited users.

Modules: Accounting, Customer and Supplier Groups, Budgeting, Peppol, Sales and Delivery Order, Dashboards, Sales and Accounting Reports.

System setup and configuration inclusive of Chart of Account, User Access setup, Finances and Sales management setup, customisation of quotation invoices, purchase order and reports, Peppol, Bank Feeds (max 3) and Hubdoc receipt management setup.

Advanced system setup inclusive of designing user / task specific permission access level for financial transaction approval / governance in Xero system, setting up pay runs to manage payrolls and setting up Xero Projects module.

Data and Opening Balance Migration for General Ledger, Account Receivables (up to 100), Account Payables (up to 100), Fixed Assets (up to 100), Customer and Supplier data (up to 100), Balance Conversion.

Customised onsite training, up to 8 hours for up to 3 participants. This is a Hands-on training including: Organisation, financial and user access module, Reporting module, Bank Reconciliation module, accounting procedure and governance system, Effective quotation, invoicing and payment collection, Automatic invoice and bills reminder. The training will be conducted by Certified Accountant / Fraud Examiner / Xero certified trainers. Useful tips and case studies will be provided.