FAQs

A Compilation of all the frequently asked questions.

Digital Accounting Solutions

Cloud accounting platforms like QuickBooks and Xero automate invoicing, expenses, payroll, and reporting, giving you real-time financial insights. Many also include AI features to simplify bookkeeping and forecast trends. We help set up these solutions so you can get started quickly and accurately.

It reduces manual work, speeds up reporting, and gives clear visibility into cash flow. AI-driven features can even categorize transactions and highlight trends automatically. We guide you through setup and training so your team can make the most of these tools.

Both are PSG-approved and excellent choices. QuickBooks Online is more beginner-friendly, while Xero offers a cleaner interface and stronger app ecosystem.  For a quick comparison, you may refer to our guide: QuickBooks or Xero? 

Not sure which is better? We can help you choose base on your workflow, industry, and integration needs (e.g., POS, or e-commerce platform), just drop us a message!

We handle software setup, data migration, training, and workflow integration to ensure a smooth transition, so you can focus on running your business while your books stay accurate.

Cloud systems like QuickBooks and Xero can automate invoice creation, payment reminders, and expense tracking & more. Other features also include real-time dashboards, automatic bank feeds, built in GST tracking, multi-user access and more. For ACRA and IRAS compliance, cloud systems maintain timestamped records whereas Excel files can be easily altered without detection.

Yes. QuickBooks and Xero use bank-grade 256-bit SSL encryption, automatic backups, and multi-factor authentication. These are far more secure than Excel files on local computers or email.  Both platforms are PDPA-compliant and regularly audited for data protection standards. Your financial data is stored in certified data centers with disaster recovery protocols making it a much safer choice than storing on your computers.

Getting Started

Start by selecting the solution that fits your workflow. We can assist with account setup, chart of accounts creation, and initial configuration.

You’ll need your company profile, chart of accounts, and any historical financial data you wish to migrate. We guide you on what is required to ensure a smooth start.

Initial setup and configuration typically take 1–2 days, while full migration of historical data may take 1–4 weeks depending on complexity.

Yes. We provide training sessions tailored to your team’s needs, covering day-to-day operations, reporting, and best practices.

Absolutely. We handle migration from Excel or other systems to QuickBooks or Xero, ensuring your data is accurate, compliant, and ready to use.

Yes. Our support extends beyond setup, so you have assistance during the crucial first month and beyond to ensure a smooth transition.

QuickBooks Online (QBO)

Yes, we will assist with the migration from your existing accounting software or excel, into your new Quickbooks Online account. Some common accounting softwares we have migrated from are MYOB, Xero, QuickBooks Desktop, Excel, Wave, NetSuite, Autocount and more.

This depends on type of migration selected, along with the volume and complexity of the past year accounts. Drop us a message and we will quickly revert to you with a timeline.

Yes, QBO integrates with payment gateways, POS systems, and e-commerce platforms. Tisch Global ensures smooth integration so your financial data flows seamlessly.

No worries, we would provide templates and guide you with the process. Simply transfer your excel data to these templates.

Eligible employers for SkillsFuture Enterprise Credit (SFEC) will receive a one-off $10,000 credit to cover up to 90% of the out of pocket expenses. The Latest 2022 Budget recently announced that:

  1. Coverage of SFEC will be expanded through an adjustment to the eligibility criteria for the qualifying period of 1 Jan 2021 to 31 Dec 2021

  2. Minimum Skills Development Levy (SDL) contribution requirement will be removed for the qualifying period of 1 Jan 2021 – 31 Dec 2021; employers with inactive ACRA status during the qualification process and/or employers who have defaulted on their SDL payment during the qualifying period will be excluded

  3. Requirement of employing at least three local (Singapore Citizens or Permanent Residents) employees every month over the qualifying period remain.

  4. Employers must not have previously qualified for SFEC, in any of the earlier period

  5. Newly qualified employers will be notified in Apr 2022.

PSG grant provides 50% support, which means you out-of-pocket expense is 50%.

SFEC will cover 90% of out-of-pocket expense, which means 90% X 50% = 45% support

Your nett cost : 100% – 50% (PSG) – 45% (SFEC) = 5%

There is no need to apply for SFEC. Your credit be will automatically used on supportable programmes such as Productivity Solutions Grant (PSG) that you have applied for.

ESG will notify all newly eligible employers for SFEC via email and/or letter.

How to check?

Employers who qualified will be able to see the $10,000 credit, when they log in to the Business Grants Portal (BGP) and SkillsFuture Singapore’s SFEC microsite.

Yes. Before we begin, we will have a project kick-off meeting with you, where we will discuss the project timeline and run through the details. 

Yes, QBO integrates with payment gateways, POS systems, and e-commerce platforms. We ensure smooth integration so your financial data flows seamlessly.

Xero

Yes, Xero integrates with payment gateways, POS, e-commerce, and other apps. Tisch Global can configure these integrations so your data stays synchronized across platforms.

We handle setup, data migration, training, and ongoing support. This ensures you get the full benefits of Xero without the typical learning curve or migration headaches.

Moving from Excel to Xero/QuickBooks

Cloud accounting is doing your bookkeeping online with software like QuickBooks or Xero. Your data is stored securely on the internet, updated in real time, and accessible anywhere.

It automates tasks such as invoicing, bank feeds, and GST reporting, making finances faster, safer, and easier.

This depends on type of migration selected, along with the volume and complexity of the past year accounts. Drop us a message and we will quickly revert to you with a timeline.

Migration costs typically range from SGD $200 to $3,000 depending on complexity. 

However, Singapore SMEs can claim up to 50% subsidy through the Productivity Solutions Grant (PSG). When combined with SkillsFuture Enterprise Credit (SFEC), total subsidies can reach 95%. This means that your actual out-of-pocket cost can be as low as 5% of the total plan cost.As a PSG-approved vendor, we provide done-for-you plans which include software subscription, implementation, data migration, and training. 

Chat with us to check on your grant eligibility.

It’s faster, safer and more reliable than Excel. Cloud accounting systems also help to automate tasks like bank reconciliation, GST reporting, and invoicing which help to reduce manual errors.

You get real-time financial insights and secure backups all in one system.

DIY migration is possible if your files are well-organized, but transferring opening balances, historical transactions, and charts of accounts correctly is tricky. Tisch Global handles the full migration, saving time and ensuring your books are audit-ready.

No, your Excel files remain as backup records. You can choose to import historical transactions (e.g., 1 year) into QuickBooks or Xero. We make sure your migration preserves your data and reporting continuity.

Yes, both platforms integrate with Stripe, PayPal, PayNow, and other systems, enabling automatic transaction matching. We configure these integrations, so your financial data flows smoothly across all your business tools.

Basic knowledge can help but experts can do the migration for you.

Both work well. QuickBooks is beginner-friendly, Xero has strong integrations. Speak to us and we’ll help assess which one suits your workflow and company’s needs. 

While not mandatory, it is highly recommended to migrate to cloud accounting before your corporate tax filing deadline.

Cloud platforms like QuickBooks and Xero automatically generate IRAS-compliant reports, maintain proper audit trails, and reduce filing errors. 

Many Singapore businesses migrate at their financial year-end to ensure clean books for tax season. We can help you time your migration to align with your ECI and Form C submission deadlines.

PEPPOL / InvoiceNow

InvoiceNow is a nationwide e-invoicing network that allows businesses to send and receive invoices digitally and automatically. Instead of emailing PDF invoices or mailing paper copies, InvoiceNow connect your accounting software directly to your customers’s accounting system. Invoices are transmitted instantly and securely. The network is designed for businesses of all sizes and helps you comply with Singapore e-invoicing and tex requirements.

The regulations surrounding InvoiceNow have been evolving.

According to IRAS, it is mandatory for the following group of companies:

  • From 1 November 2025, for companies that register for GST voluntarily within 6 months of being incorporated 
  • From 1 April 2026, for all new voluntary GST-registrants

InvoiceNow-Ready Solutions are accounting software with built-in integration to the InvoiceNow network. Popular options include QuickBooks and Xero, these solutions let you send and receive e-invoices directly from your existing accounting system.

Businesses already using InvoiceNow-Ready Solutions only need to activate the GST InvoiceNow submission feature to start sending invoices data via the InvoiceNow network.

For businesses who have yet to start using InvoiceNow-Ready Solutions, contact us to find the right solution for your business and get started with seamless e-invoicing!

The InvoiceNow network itself is free to use. However, you will need InvoiceNow-Ready solutions such as Quickbooks and Xero to connect to the network and send e-invoices. The cost depends on which accounting solution you choose and your business requirements.

Many solutions offer affordable yearly subscription plans, and government grants are available to offset implementation costs.

Contact us to find out more about the different solutions we offer!

In order to be connected to InvoiceNow network, businesses need to purchase an InvoiceNow-Ready software/solution such as Xero or Quickbooks.

The Productivity Support Grant (PSG) can be used to provide 50% funding support to accounting solutions like QuickBooks Online and Xero.Other grants like the SkillsFuture Enterprise Credit is also available for certain companies.

Not sure if you qualify for both grants? Contact us and we will help to assess!

  1. Reduces manual effort and boosts business efficiency: InvoiceNow automates invoice data transmission directly into customers/suppliers’ accounting systems
  2. Minimises compliance efforts and shortens GST audit process: Business can expect shorter GST audits and faster refunds as invoice data is transmitted to IRAS. Businesses can also receive auto alerts for wrongful GST charging from non-GST registered suppliers.
  3. Simplifying invoicing: Use a single invoicing solution for all parties while ensuring seamless tax compliance

Yes, your invoice data remains completely private on the InvoiceNow network. Your invoice data is only accessible to you, your customer/supplier and IRAS.

According to IRAS, the invoice data transmitted to IRAS will be stored in IRAS’s system which is governed by public sector security requirements.

Get in touch

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