Grants

QuickBooks VS Xero Comparison

Grants / By

QuickBooks Vs. Xero? A Complete Guide to Choosing the Best Software for your Singapore business “Software is the magic thing whose importance only goes up over time.” – Bill Gates Understanding QuickBooks and Xero Accounting Softwares Both QuickBooks and Xero are powerful accounting software solutions suited for most small to medium size business owners in Singapore. The comparison between softwares is more than just price. If you are in the midst of searching for an accounting / invoicing tool, you may have a few considerations when deciding which tool to use – budget, business needs, and comparing different options on the market. In this post, we will give you a complete detailed breakdown of the features in both QuickBooks and Xero, and recommend the appropriate tool for your business needs. Some common questions about Quickbooks and Xero QuickBooks vs Xero, which is cheaper? If you require multi-currency functions, QuickBooks Essentials costs S$40 per month VS Xero Premium costs S$80 per month.  Comparing across the board, QuickBooks is cheaper than Xero.  Do both softwares allow for Multi-Currency function? Yes, both have great multi-currency functions. The multi-currency function can be set up in Xero for a selected period of time whereas QuickBooks allows for a daily exchange rate to be used. Which software has the function to deliver invoice straight into another account of the same platform? Xero has a ‘XERO to XERO’ invoicing function where invoices can be delivered straight to your customer or supplier’s Xero account should they be a Xero user. QuickBooks does not have this function. Which software provides more customisation of reports? QuickBooks provides a more comprehensive reporting function – invoice templates are very flexible. While editing the invoice template, users can alter most fields, change colour and fonts. Users can also edit sales message and the fields they want to be displayed on an invoice. QuickBooks reporting capability scale up with each level. QuickBooks is able to run detailed reports like AR/AP with many ways to slice the report like by customer type etc, while Xero has slightly fewer customisations. QuickBooks Vs Xero, which one can do Bulk Actions like Bulk import? QuickBooks has a good amount of bulk transactions for setting up your business. Users are able to add in products and services, Contacts and suppliers. Columns can be mapped before importing. Expense Function The expense function is more user-friendly in QuickBooks as once users upload an invoice, it will be recorded as paid. Whereas for XERO users will have to upload invoice then select pay in the system. QuickBooks Vs Xero, which one can do GST F5 Report/Submission? Both platforms are customised to Singapore’s GST reporting standards. GST reporting function is more intuitive in QuickBooks. The platform gives user the ability to click on the total of each Box and have a secondary report generated showing the individual lines that make up the total of that box. Users can also record GST paid or claimed via QBO GST function. Does QuickBooks or Xero have WhatsApp Integration? QuickBooks’ latest feature allows for users to send invoices from QuickBooks Online and Mobile to their WhatsApp, so these invoices can be WhatsApped to your customers or clients. Xero does not currently have such a function. In summary, Quickbooks Vs Xero, which is the more suitable software? QuickBooks Online is best for: Businesses that are looking for a more cost-efficient & cheaper accounting software. Businesses that are looking for an easy-to-learn and intuitive user interface. Businesses looking for more comprehensive financial reports. Xero is best for: Businesses that need e-invoicing/linking to the PEPPOL network immediately. You can send an e-invoice via Xero directly whereas for Quickbooks users they would need to link to PEPPOL network via a third-party app called LinkFor. Businesses that require a wide range of integrations with applications. Businesses that require a wide range of bank integrations such as international banks: ANZ, Citibank, HSBC. Our Verdict Overall, both QuickBooks and Xero are well-developed Accounting softwares with strengths in different areas. From a cost-perspective, companies looking for a more cost-efficient software should consider Quickbooks as it is cheaper on a monthly basis. On the other hand, Xero would be a good choice for businesses who prefer vast banks integration and a wide range of application integrations. Ultimately, when deciding which software to pick, you should consider which better suits your business needs and ability to support the company’s growth. Our Verdict Overall, both QuickBooks and Xero are well-developed Accounting softwares with strengths in different areas. From a cost-perspective, companies looking for a more cost-efficient software should consider Quickbooks as it is cheaper on a monthly basis. On the other hand, Xero would be a good choice for businesses who prefer vast banks integration and a wide range of application integrations. Ultimately, when deciding which software to pick, you should consider which better suits your business needs and ability to support the company’s growth. News (New) 3 Compliance Essentials Every New Singapore Company Must Know QuickBooks VS Xero Comparison Growing your StartUp/SME: How Automation is shaping Singapore’s top 3 industries Growing your StartUp/SME: 4 ways the Singapore government encourages entrepreneurship Growing your StartUp/SME: Top 5 Challenges entrepreneurs in Singapore face when growing a business After Incorporation What Next – Cloud Financing in Singapore’s top 3 industries After Incorporation What Next – 3 Ways to grow your numbers after incorporation After Incorporation What Next – Get a Corporate Secretary, know their 3 Main Areas of Responsibilities Starting Your Business Right – 3 Business Ideas to consider as a first time Entrepreneur Starting Your Business Right – Raising Capital For Your Business Insights (New) 3 Compliance Essentials Every New Singapore Company Must Know Rosie LimSeptember 19, 2025 Grants QuickBooks VS Xero Comparison adminJune 6, 2024 Insights Growing your StartUp/SME: How Automation is shaping Singapore’s top 3 industries adminJune 22, 2022 Insights Growing your StartUp/SME: 4 ways the Singapore government encourages entrepreneurship adminJune 22, 2022 Insights Growing your StartUp/SME: Top 5 Challenges entrepreneurs in Singapore face when growing a

QuickBooks VS Xero Comparison

Grants / By

QuickBooks Vs. Xero? A Complete Guide to Choosing the Best Software for your Singapore business “Software is the magic thing whose importance only goes up over time.” – Bill Gates Understanding QuickBooks and Xero Accounting Softwares Both QuickBooks and Xero are powerful accounting software solutions suited for most small to medium size business owners in Singapore. The comparison between softwares is more than just price. If you are in the midst of searching for an accounting / invoicing tool, you may have a few considerations when deciding which tool to use – budget, business needs, and comparing different options on the market. In this post, we will give you a complete detailed breakdown of the features in both QuickBooks and Xero, and recommend the appropriate tool for your business needs. Some common questions about Quickbooks and Xero QuickBooks vs Xero, which is cheaper? If you require multi-currency functions, QuickBooks Essentials costs S$35 per month VS Xero Premium costs S$65 per month.  Comparing across the board, QuickBooks is cheaper than Xero. Do both softwares allow for Multi-Currency function? Yes, both have great multi-currency functions. The multi-currency function can be set up in Xero for a selected period of time whereas QuickBooks allows for a daily exchange rate to be used. Which software has the function to deliver invoice straight into another account of the same platform? Xero has a ‘XERO to XERO’ invoicing function where invoices can be delivered straight to your customer or supplier’s Xero account should they be a Xero user. QuickBooks does not have this function. Which software provides more customisation of reports? QuickBooks provides a more comprehensive reporting function – invoice templates are very flexible. While editing the invoice template, users can alter most fields, change colour and fonts. Users can also edit sales message and the fields they want to be displayed on an invoice. QuickBooks reporting capability scale up with each level. QuickBooks is able to run detailed reports like AR/AP with many ways to slice the report like by customer type etc, while Xero has slightly fewer customisations. QuickBooks Vs Xero, which one can do Bulk Actions like Bulk import? QuickBooks has a good amount of bulk transactions for setting up your business. Users are able to add in products and services, Contacts and suppliers. Columns can be mapped before importing. Expense Function The expense function is more user-friendly in QuickBooks as once users upload an invoice, it will be recorded as paid. Whereas for XERO users will have to upload invoice then select pay in the system. QuickBooks Vs Xero, which one can do GST F5 Report/Submission? Both platforms are customised to Singapore’s GST reporting standards. GST reporting function is more intuitive in QuickBooks. The platform gives user the ability to click on the total of each Box and have a secondary report generated showing the individual lines that make up the total of that box. Users can also record GST paid or claimed via QBO GST function. Does QuickBooks or Xero have WhatsApp Integration? QuickBooks’ latest feature allows for users to send invoices from QuickBooks Online and Mobile to their WhatsApp, so these invoices can be WhatsApped to your customers or clients. Xero does not currently have such a function. In summary, Quickbooks Vs Xero, which is the more suitable software? QuickBooks Online is best for: Businesses that are looking for a more cost-efficient & cheaper accounting software. Businesses that are looking for an easy-to-learn and intuitive user interface. Businesses looking for more comprehensive financial reports. Xero is best for: Businesses that require a wide range of integrations with applications. Businesses that require a wide range of bank integrations such as international banks: ANZ, Citibank, HSBC. QuickBooks Vs. Xero? A Complete Guide to Choosing the Best Software for your Singapore business “Software is the magic thing whose importance only goes up over time.” – Bill Gates Understanding QuickBooks and Xero Accounting Softwares Both QuickBooks and Xero are powerful accounting software solutions suited for most small to medium size business owners in Singapore. The comparison between softwares is more than just price. If you are in the midst of searching for an accounting / invoicing tool, you may have a few considerations when deciding which tool to use – budget, business needs, and comparing different options on the market. In this post, we will give you a breakdown of the features in QuickBooks and Xero, and recommend the appropriate tool for your business needs. Some common questions about Quickbooks and Xero QuickBooks vs Xero, which is cheaper? If you require multi-currency functions, QuickBooks Essentials costs S$35 per month VS Xero Premium costs S$65 per month. Comparing across the board, QuickBooks is cheaper than Xero. Do both softwares allow for Multi-Currency function? Yes, both have great multi-currency functions. The multi-currency function can be set up in Xero for a selected period of time whereas QuickBooks allows for a daily exchange rate to be used. Which software has the function to deliver invoice straight into another account of the same platform? Xero has a ‘XERO to XERO’ invoicing function where invoices can be delivered straight to your customer or supplier’s Xero account should they be a Xero user. QuickBooks does not have this function. Which software provides more customisation of reports? QuickBooks provides a more comprehensive reporting function – invoice templates are very flexible. While editing the invoice template, users can alter most fields, change colour and fonts. Users can also edit sales message and the fields they want to be displayed on an invoice. QuickBooks reporting capability scale up with each level. QuickBooks is able to run detailed reports like AR/AP with many ways to slice the report like by customer type etc, while Xero has slightly fewer customisations. QuickBooks Vs Xero, which one can do Bulk Actions like Bulk import? QuickBooks has a good amount of bulk transactions for setting up your business. Users are able to add in products and services, Contacts and suppliers. Columns can be mapped before importing. Expense

7 Start-Up Government Grants in Singapore (and How to Apply)

Grants / By

Starting a company in Singapore – Learn about the grants you may be able to tap on to fuel your business. “The secret of getting ahead, is getting started.” – Mark Twain What is the business scene in Singapore? Small and medium-sized enterprises (SMEs) have grown to be an increasingly significant contributor to Singapore’s economy. In fact, in 2020 alone, 70% of employment in Singapore was fuelled by SMEs; 43% of the $428 billion nominal value added also had come from SMEs.   Thus, it makes sense that in the light of the COVID-19 pandemic casting a shadow over the economy, the government has put in place a plethora of schemes especially targeting the SME sector, such that businesses get all the support they need. If you are a SME business owner, you may find the following overview useful! Find out about the 7 grants that are game-changing for your business. 1. The Temporary Bridging Loan Program (TBLP) The Temporary Bridging Loan Program (TBLP) has been further extended for 6 months, from 1 October 2021 to 31 March 2022.  TBLP aims to provide access to working capital for SMEs’ business needs.  Key points   Before TBL Program, corporate SME loans’ interest rates averaged between 5-8% p.a. The current TBL Program offers interest rate capped at 5% per annum (p.a.), and averages about 2.75-4.5% p.a. (simple rate). This means that for every $100 you borrow, you only need to pay on average $2.75 to $4.50 in interest.   Last day to apply: 30 September 2021  Maximum loan quantum is S$3 million per borrower. An overall borrower group is subject to a higher limit of S$20 million.   The maximum repayment period is 3 to 5 years.   What can I use TBLP for?   Immediate expenses, such as if any of your equipment suffers from an unexpected breakdown   Interim business expenses while your company is seeking other long-term financing  Alleviate any cash flow difficulties  Fund expansion plans, e.g, relocating to a new office Am I eligible?   Be a business entity that is registered and physically present in Singapore At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership  How to apply?   Approach PFIs: : SMEs may first approach any Participating Financial Institutions (PFIs) to apply for the loan (subject to banks’ credit approval). Refer to the list here for which PFIs you may approach.   Approach Loan brokers: Tap on our experiences and network in helping SMEs get loans. (insert link to why should businesses get loan brokers).  NOTE: You’ll be happy to hear that Tisch Global has helped many of our clients apply successfully for the TBLP. Additionally, some banks do offer preferential rates for existing clients. Drop us an email at hello@tischglobal.com to enquire about your loan application needs.  2. P-Max P-Max is a Place-and-Train (PnT) programme under Workforce Singapore (WSG) that aims to help SMEs in terms of human resources and help job-seeking PMETs into suitable SME jobs.   Hiring SMEs can enjoy up to 90% course fee subsidy for PMET, SME training workshops and Age Management workshop (applicable for P-Max for Older Worker only).  Eligible SMEs will receive a one-time $5,000 Assistance Grant or $10,000 Assistance Grant (P-Max for Older Workers only) upon completion of the Programme and six-month retention of the newly hired PMET(s).  Eligibility  Companies registered or incorporated in Singapore;  Employment of not more than 200; OR Annual sales turnover of not more than S$100 million;  At least 30% local shareholding being held by Singapore Citizen or Singapore Permanent Resident  Hired a PMET within the last three months (i.e. 90 days) prior to enrolment into programme, offering a gross monthly salary of at least $2,500  How to apply?   Indicate your interest for the P-Max Programme by filling up the form, via the link provided in the P-Max Factsheet, available on the Workforce Singapore website.  Alternatively, contact the P-Max Programme Managers. Their contact details are available in the above-mentioned factsheet as well. Learn more about the P-Max Programme here.   3. Productivity Solutions Grant (PSG) The PSG supports SMEs in adopting IT solutions and equipment to enhance their business processes in Singapore’s bid to progress towards a truly Smart Nation.   Key points   These solutions offered range from cloud accounting to financial management and inventory tracking. One example is the popularized use of QuickBooks, a cloud accounting software.   The list of readily adoptable solutions can be found on GoBusiness Gov Assist. Applicants should consider their business needs to select the relevant and right-sized PSG support packages.   Eligibility   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 less than S$100 million, OR less than 200 employees (for selected solutions only)  How to apply?   Visit GoBusiness Gov Assist to access the list of supportable solutions and identify relevant solutions that best suit your business needs.  For IT solutions: Get a quotation from the pre-approved vendor.  For equipment: Source for the equipment and get a quotation from the vendor  Submit an application on the Business Grants Portal (BGP). You will need to register for a CorpPass account to transact on the portal.   Facing difficulties in applying for PSG? Not to worry. As Tisch Global has helped many of our clients with their PSG applications successfully, simply contact us at hello@tischglobal.com for assistance!   Learn more about PSG here.   4. Enterprise Development Grant (EDG) The EDG offers support to projects that help SME owners upgrade their business, innovate or venture overseas, under the 3 pillars: Core Capabilities, Innovation and Productivity, Market Access.   What is more – as part of Budget 2021, the enhanced maximum support level of up to 80% for the EDG has been extended from 30 September 2021 to 31 March 2022!    What can I use EDG for?   EDG may fund project costs, such as third party consultancy fees, software and equipment and internal manpower costs. Specifically, in alignment with each Pillar mentioned above:   Core Capabilities: Business strategy development, financial management, human capital development, service excellence, and strategic brand and marketing development.  Innovation and Productivity: Automation, process redesign, and product development.  Market Access: Mergers and Acquisitions (M&A), pilot project and test bedding, and standards adoption.  Eligibility  Be registered and operating in Singapore  Have a minimum of 30% local shareholding  Be in a financially viable position to start and complete the project  How to apply?