We are a Pre-Approved Solution Provider to implement Xero cloud accounting software!

Everyday Corporate just been appointed as a Pre-Approved Solution Provider under the SMEs Go Digital Programme to implement Xero as a cloud accounting software for companies! It was a year long application due to the changes in manpower in IMDA and ESG, and I’m glad to announce this “breakthrough”.

What is the Productivity Solutions Grant (PSG)? 

✓ Launched in April 2018 by IMDA under SMEs GO DIGITAL to help businesses enhance their processes with technology 
✓ Financial support for business owners for IT solutions, equipment and consultancy services  
✓ Aim: increase productivity for businesses 

Eligibility

✓ Registered and operating in Singapore  
✓ IT solution/equipment/consultancy service must be used in Singapore  
✓ Company’s Group annual sales turnover should be not more than S$100 million, OR Company's Group employment size should be no more than 200 employees 
✓ You may refer to the PSG Application Checklist for some tips on how to prepare for your PSG application process. 

How to apply 

✓ Select from approved vendors that provide the solution you’re looking for (That’s us!)  
We are a Pre-Approved Solution Provider under the SMEs Go Digital Programme to implement Xero Cloud Accounting Software (Select IT solution > Enterprise Resource Planning (ERP) System > Accounting Management & Sales > View > Everyday Corporate) 

✓ Get a quotation from the vendor  
Browse our PSG packages for Xero Cloud Accounting software  and speak with us to get an official quotation with your business details.

✓Submit an application on the Business Grants Portal (BGP)  
Step 1: Register for a Corppass account  
Step 2: Submit application & wait to receive your letter of acceptance (usually about 6 weeks) 
Step 3: Submit your grant claim on the BGP before your claim due date  (Step-by-step guide by Enterprise Singapore) 

For more details: Grant application: how it works 

Why Xero Cloud Accounting Software?

We are Xero advisor-certified and a Silver Champion of Xero, so it means you're working with a team with ample experience, who can provide you a personal onboarding experience, not only relying on the Xero network and solutions.

Find out more about Xero Cloud accounting Software here.
Pay bills | Claim expenses | Bank connections | Accept payments | Track projects | Pay runs | Bank reconciliation | Manage contacts | Capture data | Files | Reporting | Inventory | GST returns | Send invoices | Multi-currency accounting | Purchase orders | Quotes | Analytics Plus

To learn more about the different Xero features, click here.

How much money can I actually save by applying for PSG?

Here’s an example to better illustrate your savings. 

The below illustration reflects the savings from 1 Apr 2023 onwards

The most basic implementation package under Everyday Corporate (Package 1) is $3,000, covering the setup and training of staff on the use of Xero and 1 year subscription of Xero Standard Plan. Out of $3,000, $2,960 is the qualifying cost for subsidy.

View other PSG approved packages here.

Under the PSG grant, your company would need to pay upfront $3,000 for the solution implementation to Everyday Corporate, and would be able to qualify for 50% grant, which means the government will give you back $1,480 directly into your bank account.   

With PSG Grant & SFEC

Everyday Corporate Xero Package 1 (here): $3,000 
PSG Grant (50% of qualifying costs $2,960): -$1,480 
Net Cost: $1,520 

SFEC* (90% of remaining qualifying cost $1,480): -$1,332 
Net cost after PSG & SFEC: $188 

Original Xero implementation quotation

Xero implementation: $1,200 to $2,000 depending on migration criteria
Xero standard for 1 year: $732 
Net Cost: $1,932 to $2,732

By making use of the PSG Grant, you are able to cover more scope at $3,000 while saving at least $412 ($1,932 minimal original nett cost - $1,520 maximum cost for PSG package) for the implementation, as well as cover the first year of Xero subscription fees.  

On top of that, eligible companies may also apply for the SkillsFuture Enterprise Credit (SFEC) which covers the remaining ($2,960 - $1,480 = $1,480) with a 90% grant ($1,332).  

*The SkillsFuture Enterprise Credit (SFEC) encourages employers to invest in enterprise transformation and capabilities of their employees. Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes. This will automatically be credited to your company if you are eligible. 

The only downsides are mostly the paperwork to apply for the grant – which is really quite simple (Not convinced? Click here to find out about the step-by-step guide to applying for the grant), and the upfront cash outlay (i.e. cost of the package) that often deter people from going for it. But if you’re already looking and intending to adopt Xero as your accounting software – you should definitely go for it.