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5 Benefits of taking advantage of the accounting PSG Grant for aircon repair companies

As an aircon repair and servicing company, there’s a lot to do. There’s a lot to track with accounting and you have to constantly manage how your employees’ time is spent travelling between homes and the cost of tools and equipment needed for each project.

Many companies struggle with managing such costs which is why it’s important to have a good accounting system. The problem is that accounting softwares is often pricey and may not have the features that aircon repair service companies need. But that’s where government grants like the PSG Grant comes in.

What’s the PSG Grant?

The PSG Grant is a government grant launched by Enterprise SG that pays for 70% of the cost of any pre-approved digital service. It’s only eligible for small businesses in Singapore and can be used by small businesses for accounting software or eCommerce website design.

The accounting PSG Grant is the PSG government grant for pre-approved accounting software like Xero and Quickbooks. But note that you’ll have to apply for the accounting PSG Grant through a local accounting firm and engage their services. A lot of accounting firms even offer Xero online courses to show you how to use the software on your own after!

The PSG Grant is not only for accounting. It’s also for other industries and B2B services like website design and developing eCommerce platforms. And this isn’t just a covid relief program either. Most covid restrictions in Singapore have been lifted and this PSG Grant is still available to SMEs. A lot of shops have taken this opportunity to use government grants to help pay for their transformation into an eCommerce online store. Website maintenance and hosting is much more affordable than expensive rental costs and you can even use the government grant to streamline your distribution and shipping with technology like delivery tracking and robots!

Benefits of the accounting PSG Grant

  1. Convenience – A cloud accounting software allows businesses to manage all their financial data and facilitate efficient business transactions. Moreover, PSG accounting software also simplifies taxes. In other words, PSG grant accounting software decreases an enterprise’s stress by keeping everything needful in a straightforward interface.
  1. Cost-efficiency – Features such as automated calculations, data storage, and administrative operations allow PSG grant accounting software to reduce printing and distribution costs. Thus, it would not be erroneous to assert that accounting software is the quintessential companion to the PSG eCommerce Grant.


  1. Accuracy – Recurring human errors like miscalculations and data report mistakes often result in massive financial losses. Even worse, they can lead to bankruptcy. Thus, a PSG grant accounting software fosters accuracy and mitigates many business risks.


  1. Security – Your eCommerce platform needs security, which pre-approved accounting software can offer. PSG grant accounting software allows you to see the real-time financial status for better planning and preparedness. In addition, the PSG grant accounting software can ensure safe data backup, ensuring easy and time-efficient retrieval whenever you need them.


  1. Better Customer Relationship – Faster and more communicative invoicing helps build customer trust and customer retention. With software like Xero, you can expect fewer delays and errors. Thus, pre-approved PSG software can help your business create an image of credibility and professionalism.


What to expect from accounting software


Xero is super easy to use and there’re tons of Youtube videos and Xero online courses that you watch to learn to use Xero.


Filling up the PSG Grant application may seem like a lot of work for using a software specially made for accounting. But some features of accounting software include:


  • Oversee the company’s financial and inventory management processes.
  • Real-time management dashboards
  • Accounts financial reporting
  • Support multi-company transactions and reporting
  • Supports multi-currency transactions and reporting
  • Role-based and customizable data access security
  • Flexibility of modifying transactions and much more


If you’re looking for more help or to have an instructor guide you through Xero, you can always take a Xero online course that will cover everything in detail. There are tons of online training schools that offer helpful courses. You can even learn in a group with others thanks to Zoom breakout rooms!


Looking for a more “custom” solution?


Most SMEs don’t need custom accounting software unless you’re in a really niche industry with a lot of accounting rules specific to that industry. Complex accounting usually occurs in multinationals with thousands or millions of transactions a day. They therefore typically need custom software development services and an entire team of website designers to develop an ERP, website interface and accounting software from scratch.


Please note that we’ve only talked about the PSG Grant in this post. Government grants are not available to multinationals and the PSG Grant is exclusively for small businesses. But a lot of accountants, software engineers and web developers can advise you on whether you need a custom-built accounting software. Just make sure to go around and get a couple of opinions!

Top Trends in the Air Conditioning Industry 2021

Top Trends in the Air Conditioning Industry 2021

Innovations and advancements continue to reshape 2021, with many new trends across the HVAC industry set to impact businesses in the coming months and years ahead. Let’s look at some of the upcoming trends and innovations in the air-conditioning industry. 


Covid-19 Impact And Bipolar Ionization


This global pandemic will continue to impact our industry and economy throughout 2021. Residential air conditioning demand will remain high due to the massive shift to working from home, online classes, and homeowners investing in their homes. 

Concerns about airborne transmission especially at home highlights the role of airconditioning systems to help minimize airborne disease transmission and ensure better indoor air quality. HVAC professionals continue to look for technological methods of controlling the disease’s spread inside homes and buildings. One of these technologies is bipolar ionization (BPI), also called needlepoint bipolar ionization.

According to Business Insider, “Bipolar ionization technology releases charged atoms that attach to and deactivate harmful substances like bacteria, mould, allergens, and viruses.” This means that it neutralizes the pathogen and remove it from the air via an electrostatic force. Furthermore, BPI enlargens these infectious particles that allow them to be easily caught by the air filter.

This technology has been around for years and this COVID-19 pandemic has gotten HVAC business rushing to integrate bipolar ionization technology into their airconditioning systems to keep their customers safe.


Green Solutions 


Consumers and businesses are expressing greater desire and willingness to invest in more sustainable air-conditioning solutions. They are becoming aware of their carbon footprints and industry providers are responding with the creation of more sustainable and efficient products which enable customers to reduce their carbon footprints. With the growth in the green sector, the market for HVAC will have a big part to play in the rise of sustainable energy. 

The trends that are expected for the upcoming year include heating and cooling systems that use cleaner sources of power, such as geothermal energy, rather than gas and other fossil fuels. 

This geothermal technology uses energy stored in the ground to heat and cool your home. Aircon units that adopt this geothermal technology are 65% more efficient than traditional systems. Although they are several times more expensive, homeowners can make up those costs in less than 10 years with the sustainable energy savings they’ll recoup.

Since geothermal aircon systems don’t burn fossil fuels at all, there are no fumes or particulate matter that can pose any health hazards.


Smart Homes


One of the biggest technological advances at home has been the move towards smart integration like Alexa and Google Home. From an app on your phone allowing you to turn the lights on and set the temperature in your home at the click of a button (or even voice!), smart homes are paving the way to a more intelligent and environmentally friendly society.

More and more aircon companies and manufacturers are beginning to use the Internet of Things (IoT) to embed sensors and other technologies into their cooling equipment to monitor and collect data regarding the system’s performance and condition and allowing users to program their aircon units according to their needs. 

Encompassing smart technology can improve efficiency, increase comfort, provide real-time monitoring of the aircon systems, and conduct predictive maintenance. These smart AC systems will be able to manage and control temperature and humidity levels through the use of sensors.


Conclusion and challenges


These trends demonstrate that there is a large opportunity for air-conditioning companies to develop more innovative technologies that could make residential developments more sustainable, smarter and cost-effective. Taking on the cost efficiency challenge will surely revolutionise the market and allow the variety of consumer to widen as connected living becomes the norm. In addition, these new technologies challenge the abilities of aircon repair and servicing companies to catch up with these trends to remain competitive in the market.  


For your aircon repair and servicing needs, contact Yeobuild Homecool now at  6591 8747 or you get a quote online here: https://homecool.com.sg/quotation-calculator/