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PSG Grant For Accounting Software For Autocount In Singapore

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What is Productivity Solutions Grant (PSG)?

Navigating the competitive world of business requires tools that enhance productivity. If your company is on the lookout for IT solutions to enhance work efficiency and streamline your operations, the Productivity Solutions Grant (PSG) is an initiative not to be missed.

Championed by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore, the grant offers enterprises like yours financial assistance, propelling you to embrace transformative IT solutions. Under the grant, SMEs in Singapore can receive support for up to half of the qualifying project expenses. The costs for pre-defined packages encompass software licence, training, consultancy, and equipment services. 

Among the curated range of industry-tailored and broad-based solutions that PSG supports, the AutoCount accounting software ranks as one of the popular solutions. AutoCount offers businesses an opportunity to seamlessly transition into a robust and comprehensive accounting system. Embedded with e-invoicing capabilities, it facilitates easy local and international transaction recording.

From foundational to advanced accounting tasks, AutoCount has been fine-tuned over the years with user-suggested improvements. This ensures your financial workflows are modernised for both accuracy and efficiency. So, if you’re looking to upgrade your infrastructure, now is the opportune moment for cost savings as you bolster your business capabilities.

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AutoCount Accounting Software Grant Benefits

By tapping into the accounting software grant for AutoCount, SMEs in Singapore can enjoy several benefits as follows:

  • Cost Savings: The substantial subsidy from AutoCount’s accounting software grant programme makes adopting top-tier accounting software more affordable. This financial aid enables the reallocation of resources to support other vital facets of business development.
  • Performance Boost: With the grant, AutoCount becomes more accessible to SMEs, enabling businesses to tap into the software’s ability to streamline and consolidate accounting workflows. With features like automated journal entries and bank reconciliation, companies can significantly reduce the time spent on mundane accounting chores. This translates to more time and energy SMEs can channel towards business expansion and innovation.
  • Precision: Besides achieving more with less, AutoCount drastically reduces the risk of errors arising from manual accounting. This grants your business the confidence that your financial reports are accurate and dependable.
  • Access to Expertise: Transitioning to a new system can come with its challenges. However, with the AutoCount accounting software grant programme, SMEs can easily receive assistance from experts should issues arise during software adoption. Through this, your business can enjoy a smooth and hassle-free transition.

Why Go For PSG Accounting Software, AutoCount? 

In the fast-paced business landscape, it’s crucial to choose a software that grows with you and here’s how AutoCount stands out in this realm as your ideal business digitisation partner:

One-Stop Technology Solution

AutoCount offers an integrated suite encompassing Accounting, an Electronic Point of Sale System (e-POS) and e-invoicing software, and a Human Resource Payroll System. This simplifies business operations and grants firms a holistic solution to drive efficiency across departments.

Claimable and Cost-Efficient

Offering multiple essential software features in one PSG grant claimable package, AutoCount gives firms a cost-efficient yet comprehensive digitisation solution.

User-Friendly

A straightforward yet powerful tool, AutoCount’s intuitive interface ensures you can manage your data from day one even if you lack prior accounting expertise.

Scalable

With AutoCount, SMEs have the flexibility of starting with what they need and scaling up as they grow without the need to invest in an entirely new software system.

Customisable and Integrative

This PSG accounting software package allows for personalised layouts, fields, and reports. Plus, it integrates smoothly with the broader AutoCount suite, ensuring an extended range of functionalities tailored to varied industry needs.

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Productivity Solutions Grant (PSG)

Get Funding for Your Digitalisation

Greater support for more sector-specific solutions and a wider range of pre-scoped solutions for businesses beyond IT solutions and equipment.

Now you get up to 50% funding from the Productivity Solutions Grant when you purchase AutoCount Accounting software V2.0.

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

  • Registered and operating in Singapore.
  • Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore.
  • Have a minimum of 30% local shareholding, with Company's Group annual sales turnover of less than S$100 million OR less than 200 employees (for selected solutions only).

What do I need to do to get the grant?

Here are the steps you can take when applying for PSG:

STEP 01
For Autocount software, get a quotation from Ingenious.

STEP 02
Submit an application on the Business Grant Portal (BGP). You will need to register for a CorpPass account to transact on the portal.

SkillsFuture Enterprise Credit (SFEC)

Get Funding for Your Digitalisation

The SkillsFuture Enterprise Credit (SFEC) is a grant that encourages employers to invest in enterprise transformation and the 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 Autocount accounting software, over and above the support levels of existing schemes.
Qualifying Periods
Eligibility Criteria
SFEC (Budget 2020)
1 April 2019 – 31 March 2020
Employers must meet the following conditions over any of the qualifying periods:
1 July 2019 – 30 June 2020
Have contributed at least S$750 Skills Development Levy (SDL) over a qualifying period; and
1 October 2019 – 30 September 2020
Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same qualifying period; and
1 January 2020 – 31 December 2020
Have not been qualified at any of the earlier periods
Qualifying Periods
Eligibility Criteria
SFEC Expansion (Budget 2022)
1 January 2021 – 31 December 2021
Employers must meet the following conditions over the qualifying period:

- Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the qualifying period; and

- Have not been previously qualified for SFEC; and

-Are not in default of their SDL contributions during the qualifying period and do not have an inactive ACRA status during qualification.

Enterprise Development Grant (EDG)

Overview

From 1 April 2023, SMEs can receive up to 50% support for EDG.

Enterprise Development Grant

Today and into the future, companies that thrive are the ones that have strong business foundations and strategies. They adopt technology, software solutions and innovative processes and grow their overseas presence.

The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars:

  1. Core Capabilities
    Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations. These should go beyond basic functions such as sales and accounting.

  2. Innovation and Productivity
    Projects under Innovation and Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency. These could include reviewing and redesigning workflow and processes. Companies could also tap into automation and technologies to make routine tasks more efficient.
  3. Market Access
    Projects under Market Access support Singapore companies that are willing and ready to venture overseas. You may tap into the EDG to help defray some of the costs of expanding into overseas markets.

As of 30 December 2020, Overseas Marketing Presence (OMP) will be supported under the Market Readiness Assistance Grant (MRA). Please refer here for more details.

What does the EDG support?

The grant funds qualifying project costs namely third party consultancy fees, software and equipment, and internal manpower cost.

Note: There are no pre-approved vendors for the EDG.

Who can apply?

To tap into the EDG to fund your accounting software or project, you need to meet the following criteria:

  • Be a business entity registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project

Applications will be assessed by Enterprise Singapore based on project scope, project outcomes and competency of the service provider.

There are no compulsory application fees required for schemes offered by ESG. Any application fees quoted by individuals/firms offering grant application services are not endorsed by the Government.

Eligible employers who fulfil the following criteria can also qualify for additional subsidies under the SkillsFuture Enterprise Credits (SFEC) scheme:

  • Have contributed at least S$750 Skills Development Levy over the qualifying period
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
  • Have not been qualified for SFEC at any of the earlier periods

Find out how to apply for the EDG.

Note: From 1 April 2020, all EDG applications should include commitments to worker outcomes as part of the qualifying requirements. Worker outcomes include an increase in wage increment, job creation, job re-design, or training for existing staff.

In addition, unionised companies and e2i partners under the Labour Movement are eligible to receive an additional 10% funding, subject to NTUC-e2i’s endorsement.

FREQUENTLY ASKED QUESTIONS ABOUT ACCOUNTING GRANTS IN SINGAPORE

Companies can submit multiple PSG applications based on their requirements. The grant provides for one software package per category for each deployment site. However, support also varies based on the assessment of business use and justification and will not be extended to solutions that a firm is already using.

The PSG application processing takes about six weeks after all necessary details are submitted. Businesses can purchase the AutoCount accounting software in Singapore through Ingenious in advance, but subsequent claims submitted will only be allowed if the grant application is approved.

The company’s contact will receive an email update on the PSG application status. Applicants can also check this status on the Business Grants Portal (PSG) under “My Applications” before buying their software.
Companies must link their PayNow Corporate to their UEN via their banks and submit their PayNow Corporate details through FormSG.
A confirmation email will be sent to the email address listed on the BGP.