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There are many businesses located in Singapore because it offers an easy environment for businesses. It offers friendly laws and regulations that make it easier for businesses to operate smoothly and efficiently. That is why it has been one of the best places to conduct a business over the years. Just in 2020, it has been named as the top pro-business country in the world. That is why the businesses here are at ease and there are many more investors coming in and use xero or quickbooks for accounting.
During the pandemic, it has also proven its stability by remaining resilient despite the pandemic-induced recession. It has remained one of the economies that were able to lessen the impacts of the recession. That is why in the midst of a pandemic, Singapore is still one of the best choices to conduct a business.
Is Xero better than QuickBooks?
Singapore also has many programs for those who are struggling to maintain or start a business. These programs aim to encourage and support businesses as these businesses are what builds a strong economy. One of the grants in Singapore is the Productivity Solutions Grant or PSG.
This grant aims to help businesses, especially startups, to have a more organised company system. It includes subsidising one of the most popular accounting software in Singapore which is the Xero accounting software. These grants are usually available during the company incorporation Singapore period.
To be a Xero PSG approved vendor, there are various steps to be taken. However, some entrepreneurs tend to compare Xero to another popular accounting software which is Quickbooks. To know more, let us compare Xero and Quickbooks.
Features
Setting up
For those using Quickbooks and a Xero PSG approved vendor, both can experience an excellent dashboard as both offer easy designs. You can easily have an overview of your business once you are logged in.
Quickbooks offers a simple however customisation layout for every vendor to have an overall look at the profits, bank account, invoices, and sales. The same is true to Xero that can be enjoyed by a Xero PSG approved vendor. Xero offers more banking connections that is why you should check first with your bank before choosing between these two. Deciding which software to avail can be done during the company incorporation Singapore process so that you can easily jump start after the said process is done.
Reporting
When it comes to pulling out reports, Quickbooks offers many options. However, a Xero PSG approved vendor can enjoy more customisation options for reports. There are various pros and cons to these two software applications and at the end of the day, the better choice depends on what kinds of services your business needs.
Bills and expenses
Both Quickbooks and a Xero PSG approved vendor can enjoy mobile apps for better access to their accounting needs. These apps also support paperless receipts to avoid clutter. When it comes to Xero, it makes it easier and simpler to categorize money in and out of the accounts.
A Xero PSG approved vendor can also implement paperless transactions with its employees as the software allows employees to submit receipts and reimbursement online. These kinds of methods and features can be taught to the employees after the company incorporation Singapore process for them to have an idea and be familiar with the software easily.
QuickBooks also makes it easier to manage these kinds of receipts by allowing customization per category to be able to track expenses more easily. With QuickBooks, the expenses function comes in all packages as compared to Xero in which it has to be purchased separately.
Choose Xero when…
You’re a startup
This software is more convenient for those who are just starting out. A Xero PSG approved vendor can enjoy all the perks this software offers. It provides more opportunities and easier access to accounting features. These kinds of services make it easier for businesses to expand and grow as a business. That is why most companies have chosen Xero even when they are just in the company incorporation Singapore process.
You prefer a minimalist user experience
Xero also offers a more minimalist design which allows Xero PSG approved vendors to navigate the site easily. Web designs that are easy and manageable play a big part in the organization as accounting deals with many complicated figures. Having a software application that can be easily navigated is more preferred after the company incorporation Singapore procedure.
Hire one now
Aside from these reliable accounting software applications, there are firms that can help you ease the accounting world. WLP Group is one of the most reliable accounting services firms in
Singapore. We offer affordable but efficient accounting services. Visit us today to know more.
