The entrepreneur needs to work on the business and think more strategically to make it grow. But more often than not, he gets tied to the day-to-day tasks when he should delegate more and focus on the business plan, check if targets are being met and lead the company towards growth.

What would help the business owner make strategic moves and smart decisions is having a real view of the business’ performance, which can be gleaned from the numbers. The SME’s cashflow statement, balance sheet, profit and loss statement and other reports provide a clear picture of how it is faring.

Paying attention to the numbers also gives the entrepreneur better financial control, as he is aware of the amount of revenues coming in and how much money is going out. Of course, there must be strict record-keeping of all transactions and other financial information to generate the relevant reports.

MoneyWorks is an Inland Revenue Authority of Singapore (IRAS) approved accounting system that fully automates transactions and records all bookkeeping and financial data. Suitable for any business, financial information can be easily and instantly accessed, including the reports it generates.

The reports can be customised to suit the SME’s needs. To name a few, it can show which business units are doing well and those behind on the targets, as well as keep track of customer payments to know which are slow payers, besides the profit and loss, balance sheets and other reports.

Aside from having IRAS approval, Moneyworks is available under the Increase SME Productivity with Infocomm Adoption and Transformation (iSPRINT) grant of the Infocomm Development Authority (IDA) of Singapore. The grant will help defray the cost of deploying the accounting system.

Specifically, MoneyWorks Gold version 7 and MoneyWorks DataCentre version 7 are listed under the iSPRINT pre-qualified packaged solutions, which expire on March 31, 2015. SMEs can claim up to 70% of the qualifying costs, up to a maximum of $2,000, subject to the availability of funds and fulfillment of the SME eligibility criteria.

It’s now or never.

SMEs that have yet to adopt an accounting solution have the chance to do so with the help of a grant, but only if they grab this benefit before the end of the first quarter of 2015. As a pre-qualified packaged solution, purchase of MoneyWorks can be claimed from iSPRINT through the assistance of its IT solution provider, Asia Hawk.

Upon purchasing MoneyWorks, Asia Hawk provides the SME with a Self-Declaration Form to show that the business is categorized as a SME and does not currently use any similar accounting solution, together with the receipt or other proof of purchase.

Asia Hawk also provides the iSPRINT Packaged Solutions Claims Form to be completed by the SME. The said forms and other documents, such as invoice and bank statement showing payment of MoneyWorks, the SME’s latest Accounting and Corporate Regulatory Authority business profile, training certificate signed by Asia Hawk and the SME, completed Direct Credit Authorisation form, and acknowledgement email from IRAS or IDA that the SME has sent the IRAS Audit File, should be submitted.

The IDA will process the claim and reimburse the amount to the SME directly, once the SME submits all the forms and required documents.

Understand the business’ financials and manage the company better with the help of an accounting solution. Experience the full functionalities of a comprehensive accounting and business information system with MoneyWorks Gold or enjoy all these plus a scalable dedicated server with MoneyWorks DataCentre.