As Xero Singapore Gold Partners, we customize Xero for Singapore’s taxation requirements and weave together integrated cloud solutions such as SimplePay for payroll, Receipt Bank for expense receipts, WorkFlowMax for job management, Shopify for e-commerce, TradeGecko for inventory, PayPal & Stripe for online payment processing, Chaser for automating payments collection and Spotlight Reporting for forecasts, into a nimble ERP-like system which is just perfect for your small business or startup.
Our Xero services
Xero setup and implementation
Xero customised training according to your industry
Xero local support
Specific accounting requirements we assist with include project performance tracking, inventory, fixed assets, long-term contract billing, multi-currency, consolidation of branches, subsidiary companies, timesheets & payroll, goods & services tax, forecasts, budgets, scenario planning and management reporting packs for HQ.
Read about our journey to becoming Xero’s Most Valued Partner Asia, the first Asian accounting firm awarded at Xerocon.
Our methodology for Xero implementation:
Customize Xero account for your company’s reporting and Singapore’s taxation requirements
Checks on past financials and migrating them onto Xero
Xero training for your staff
Handle ongoing bookkeeping and payroll on an outsourced basis, if desired
Review transactions in Xero on a monthly basis to check correctness and accuracy
Prepare detailed management reports to assess business performance and cashflow analysis
File regulatory, sales and corporate taxation reports
CEO Namita Sethi shares Futurebooks’ Xero journey throughout the years
For a limited time only, we are offering free 40-minute Xero introductory session to new Xero users.
Meet our clients
We have helped our clients make the big switch to Xero.
Jing Ying Ong
Managing Director, Singapore Leadership Centre, a Consulting Company
“Futurebooks has been extremely helpful in taking care of all our bookkeeping, accounting and corporate secretarial services so we at Smove could focus on building the business.”
Founder of Smove
Smove, a mobility-on-demand company, has raised US$2.78M, as of Sept 2015 from investors
that include 500 Startups & Rebright Partners.
Frequently Asked Questions on Xero Singapore:
Is Xero compatible with local regulations in Singapore?
Xero Singapore is on the Inland Revenue Authority of Singapore’s (IRAS) register of compliant accounting software. SimplePay, the payroll add-on we recommend, is on the IRAS approved payroll software vendor list and also meets the Central Provident Fund (CPF) e-submission requirements.
Xero is actively working on partnerships with local banks in Singapore such as DBS, OCBC, UOB, as well as international banks such as Citibank, Standard Chartered, ANZ, HSBC to enable bank feeds. While no bank feeds are active yet, a beta feed launch with UOB bank was announced during the Xero Singapore Roadshow.
How much does Xero cost?
Xero charges a monthly, flat rate regardless of the number of users. SimplePay charges a modest fee per employee. Futurebooks pick up the entire tab for your Xero, SimplePay fees and offer local Xero support based in Singapore when we are acting as your ongoing accountants.
Does Xero offer all the reports we will need? Is it compatible with our global ERP?
Xero operates on a single ledger system, which means, data needs to be input only once. This system can then produce powerful reports customized to the requirement of government departments, your parent company and investors. Reports provided include the Income Statement (Profit and Loss), Balance Sheet, Cash Flow Statement as well as Project/Product based profitability, Receivables/Payables report and bank reconciliation summary.
The reports out of Xero are compatible with management packs as they can be exported in the flexible CSV format.
Are Singapore bank feeds enabled?
Xero just recently announced its first direct bank feeds in Asia with UOB. Xero users who bank with UOB can now automatically sync their banking transactions into Xero every day. All they need to do is set up their UOB bank account in Xero, and post the completed form to UOB. It can take up to ten (10) working days for the feed to start.
Drop us a note below to receive a customised scope of work for Xero.