8 Burn Road Trivex #08-02/03 Singapore 369977

+65 6339 0111

A Penny Saved Is A Penny Earned – Dispense All the Manual Work, Increase Productivity and Save Money


As an Accounting Services provider SME in Singapore, we learn the importance of keeping our business cost to a minimum.  We challenge ourself to keep the business profitable by increasing sales or reducing expenses.  By reducing expenses means we get to save more.  As the saying goes “A penny saved is a penny earned”.  Every dollar we are able to save is a dollar we won’t have to earn later. The money we saved is just as important as the money spent, and it can mean more money earned for our business in future.

One proven way to save on your business expenses is to tap on the Productivity Solution Grant (PSG).  Many companies have utilized this grant to automate existing processes and improve productivity.  As announced at Supplementary Budget 2020, PSG has been enhanced to encourage enterprises to continue their digitalisation and productivity upgrading efforts. The maximum funding support level for eligible companies is raised to 80% from 1 April 2020 to 30 September 2021.

On a lighter note, if comedian Mark Lee is serious enough to be seen promoting the initiative in the ad below, the SMEs Go Digital Programme must be taken seriously. Video credit : Infocomm Media Development Authority  https://www.imda.gov.sg/



One solution which our clients have adopted and save is the XERO Accounting Software.  To subscribe, set up, implement, and be trained as a user in the Xero Accounting Software, the upfront fee is SGD1,880.  However after successful application of the PSG, eligible companies only pay SGD376.  That’s a saving of SGD1,504 and definitely money that you won’t have to earn later.

Below are some direct benefits of using the XERO Accounting Software where users dispense all the manual work and increase productivity by saving time and most importantly, money: 


🏆 Access Anytime, from Anywhere

The software is a real-time cloud-based application.  It allows you to log-in anytime and anywhere to manage invoicing, bank reconciliation, bookkeeping & more.  You, or anyone in your user list can access the account on your PC, MAC, tablet or smartphone and it doesn’t require any type of software installation or IT maintenance.  This feature saves you the time and effort to physically reach out to a system that stores your data, translating into higher productivity and cost savings.


“In 2019, Rapzo utilising Singapore’s Electronic Transaction Act. transitioned away from paper based accounting into a purely digital paperless environment primarily utilising Office365/SharePoint, DocuSign and Xero Accounting software. RMS was a critical service provider and highly skilled at not only the initial setup, configuration, training, and banking integration of Xero but also offering real time support and fault-finding services. The exceptional cost-effective services of RMS have enabled Rapzo to streamline its operational resources, cut costs was well as focus on essential core business.”

Matt Daly

Chief Investment Officer



🏆 Create and Track Invoice Easily

Gone are the days when people used Excel spreadsheets to track all expenses and income and then create invoices in a separate Word document.  With the Xero accounting software, your invoices are not only personalized for your business needs, but creating and tracking is also quick and easy.  It all takes a few clicks and you can easily create an invoice on your computer or mobile device for a customer and then email it immediately.  Invoices are recorded and saved as soon as you create them, allowing easy tracking of payments.  One of the best features is that the invoices you send can be “enabled for payment” so that once received, the customer can click and pay immediately with any major credit card.  This allows for faster cash flow, fewer bad debts, and instant reconciliation of customer payments in your Xero ledger.



“With the careful implementation of Xero in our clinic by Royal Management Services (RMS), our financial workflow has become smoother and more up to date, with our accountant, Gladys, able to access and work on our account remotely, allowing us to concentrate more on growing our business instead of spending time trying to manage and figure out our finances. Highly recommended.”


Clinic Manager




🏆 Automated Daily Bank Feeds

Xero can link your bank account to the software. Your account transactions show up in Xero every day ready for quick reconciliation. You can set up feeds from multiple financial institutions and any number of business accounts.  The bank feed automatically updates and imports your bank statements to Xero.  You will have an up-to date view of your cash flow, make Direct FAST payments  from Xero to your digital account for authorisation, and send and receive e-invoices, track sales invoices (Unpaid/Paid) which matches payments against purchases.  All these used to be time-consuming bookkeeping activities, but now they can be executed easily, saving time and cost.  Financial institutions that connect directly to Xero are DBS, HSBC, OCBC, TransferWise and UOB.


As a Certified Xero Advisor, we have helped Xero users finalise their company’s accounts and compute their tax payable and identify eligible tax deductions, exemptions and grants that will help lower their tax liabilities.  Whilst Xero can help you save the cost of recording your business transactions, we can round up the work by ensuring the timely finalisation of year-end accounts and accurate filing. To a full extent, all Xero users are not left without expert advice for statutory obligation as your certified Xero Advisors are more than ready and delighted to assist you to complete your task.



“Had been using Xero for almost a year already, and is full of conveniences!It’s so convenient with the reconciliation of accounts, and so it help save time on the manual Excel recording of payment received and outstanding. To churn out the statement of account for our customer is also just a click away. Nothing is complicated with Xero. Xero also helped to send reminders to the customers, so payment seems to receive faster too.From Payroll to customer invoicing and supplier bills, so long we have the information input, it can reconcile properly from our Bank statement what the amount are meant for.I can’t imagine going without Xero and back to manual excel formats once again!”

Mandy Yeo

General Manager


RMS is a critical service provider on the initial setup, configuration, training, and banking integration of Xero.  Our clients appreciate the real time support and fault-finding services.  At all times, we are most ready to provide accounting, bookkeeping, tax and advisory services to our fellow SMEs. Let’s help each other out to make the best of all our efforts to go DIGITAL and stay relevant. Write to us at [email protected]; give us a call at +65 6339 0111 or better yet, let’s meet up and coffee is on us.