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WSQ - Unlocking the Power of Accounting and Tax Systems for SMEs

WSQ - Unlocking the Power of Accounting and Tax Systems for SMEs

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Unlock the Power of Xero Accounting and Tax Systems for SMEs course empowers you to configure and import relevant data to Xero accounting system, input data accurately, and compute GST for expenses and invoices. You'll learn to manage accounting software efficiently, create expenses, purchase orders, bills, quotations, invoices, and credit memos.

Gain proficiency in Singapore Tax and Corporate Laws, enter GST for expenses and invoices, and generate comprehensive financial and accounting reports. The course covers essential topics such as setting up a company with Xero, bank accounts, and charts of accounts, ensuring you can manage and report financial data effectively.

Learning Outcomes

By the end of the course, learners will be able to

LO1: Configure and import relevant data to Xero accounting system
LO2: Input data to Xero
LO3: Compute GST for expenses and invoices
LO4: Generate financial and accounting reports

Course Brochure

Download WSQ - Unlocking the Power of Accounting and Tax Systems for SMEs Brochure

Skills Framework

This course follows the guideline of Accounting and Tax System ACC-ICT-4001-1.1 TSC under Accounting Skills Framework

Certification

Certificate of Completion from Tertiary Infotech - Upon meeting at least 75% attendance and passing the assessment(s), participants will receive a Certificate of Completion from Tertiary Infotech.
OpenCerts from SkillsFuture Singapore - After passing the assessment(s) and achieving at least 75% attendance, participants will receive a OpenCert (aka Statement of Achievement) from SkillsFuture Singapore, certifying that they have achieved the Competency Standard(s) in the above Skills Framework.

WSQ Funding

WSQ funding is only applicable to Singaporeans and PR. Subject to eligibility, the funding support is subjected to funding caps.

Effective for courses starting from 1 Jan 2024
Full Fee	GST	Nett Fee after Funding (Incl. GST)
		Baseline	MCES / SME
$350	$31.50	$206.50	$136.50

Baseline: Singaporean/PR age 21 and above
MCES(Mid-Career Enhanced Subsidy): S'porean age 40 & above

Upon registration, we will advise further on how to tap on the WSQ Training Subsidy.

You can pay the nett fee (after the WSQ training subsidy) by the following :

SkillsFuture Enterprise Credit (SFEC)

Eligible Singapore-registered companies can tap on $10000 SFEC to cover out-of-pocket expenses.Click here to submit SkillsFuture Enterprise Credit

SkillsFuture Credit (SFC)

Eligible Singapore Citizens can use their SFC to offset course fee payable after funding but the $4,000 Additional SFC (Mid-Career Support) cannot be used. Click here for SkillsFuture Credit submission

UTAP

Eligible NTUC members can apply for 50% of the unfunded fee from UTAP, capped up to $250/year and for members aged 40 and above, capped up to $500/year. Click here to submit UTAP

Course Code: TGS-2020505315

Post-Course Support

We provide free consultation related to the subject matter after the course.
Please email your queries to enquiry@tertiaryinfotech.com and we will forward your queries to the subject matter experts.

Course Cancellation/Reschedule Policy

You can register your interest without upfront payment. There is no penalty for withdrawal of the course before the class commerce.
We reserve the right to cancel or re-schedule the course due to unforeseen circumstances. If the course is cancelled, we will refund 100% for any paid amount.
Note the venue of the training is subject to changes due to availability of the classroom

Course Details

Topic 1: Introduction to Xero Accounting System

Overview of Xero Accounting System
Setup Company
Setup Charts of Account
Setup Bank Account
Import Data to Bank Account

Topic 2: Input Data to Xero

Create Expenses
Create Purchase Order and Bills
Create Quotation, Invoices
Create Credit Memo

Topic 3: Manage Goods and Services Tax (GST)

Singapore Tax and Corporate Laws
Enter GST for Expenses and Invoices

Topic 4: Financial and Accounting Reports

Profit and Loss (P&L) Report
Balance Sheet Report
Aging Report
GST Tax Return Report
Cash Flow Report

Final Assessment

Written Assessment - Short Answer Questions (WA-SAQ)
Oral Questioning (OQ)

Course Info

Promotion Code

Promo or discount cannot be applied to WSQ courses

Minimum Entry Requirement

Knowledge and Skills

Able to operate using computer functions with minimum Computer Literacy Level 2 based on ICAS Computer Skills Assessment Framework
Minimum 3 GCE ‘O’ Levels Passes including English or WPL Level 5 (Average of Reading, Listening, Speaking & Writing Scores)

Attitude

Positive Learning Attitude
Enthusiastic Learner

Experience

Minimum of 1 year of working experience.
Minimum 18 years old

Minimum Software/Hardware Requirement

Software:

You can sign up a cloud version of Xero Accounting

Hardware: Windows and Mac Laptops

About Progressive Wage Model (PWM)

The Progressive Wage Model (PWM) helps to increase wages of workers through upgrading skills and improving productivity.

Employers must ensure that their Singapore citizen and PR workers meet the PWM training requirements of attaining at least 1 Workforce Skills Qualification (WSQ) Statement of Attainment, out of the list of approved WSQ training modules.

For more information on PWM, please visit MOM site.

Funding Eligility Criteria

Individual Sponsored Trainee

Employer Sponsored Trainee

Singapore Citizens or Singapore Permanent Residents of age 21 and above
From 1 October 2023, attendance-taking for SkillsFuture Singapore's (SSG) funded courses must be done digitally via the Singpass App. This applies to both physical and synchronous e-learning courses.
Trainee must pass all prescribed tests / assessments and attain 100% competency.
We reserves the right to claw back the funded amount from trainee if he/she did not meet the eligibility criteria.

Singapore Citizens or Singapore Permanent Residents who are DIRECT EMPLOYEE of the sponsoring company.
From 1 October 2023, attendance-taking for SkillsFuture Singapore's (SSG) funded courses must be done digitally via the Singpass App. This applies to both physical and synchronous e-learning courses.
Trainee must pass all prescribed tests / assessments and attain 100% competency.
We reserves the right to claw back the funded amount from the employer if trainee did not meet the eligibility criteria.

SkillsFuture Credit:

Eligible Singapore Citizens can use their SkillsFuture Credit to offset course fee payable after funding.

PSEA:

To check for Post-Secondary Education Account (PSEA) eligibility, goto mySkillsFuture portal and search for this course code.
Scroll down to "Keyword Tags" to verify for PSEA eligibility.
If there is “PSEA” under keyword tags, the course is eligible for PSEA.
And if there is no “PSEA” under keyword tags, the course is ineligible for PSEA.
Not all courses are eligible for PSEA funding.

Absentee Payroll (AP) Funding:

$4.50 per hour, capped at $100,000 per enterprise per calendar year.
AP funding will be computed based on the actual number of training hours attended by the trainee.

SFEC:

If the Training Provider has submitted an enrolment for course fee grant claim in Training Partners Gateway (TPGateway), SSG would be able to derive SFEC funding based on this record. There is no need for enterprise to submit any claim request and the SFEC claim will be automatically generated and disbursed.
Where there is no such record, eligible employers are required to submit an SFEC claim after course completion via the SFEC microsite.
SkillsFuture Enterprise Credit (SFEC) Microsite

Steps to Apply Skills Future Claim

The staff will send you an invoice with the fee breakdown.
Login to the MySkillsFuture portal, select the course you’re enrolling on and enter the course date and schedule.
Enter the course fee payable by you (including GST) and enter the amount of credit to claim.
Upload your invoice and click ‘Submit’

SkillsFuture Level-Up Program

The SkillsFuture Level-Up Programme provides greater structural support for mid-career Singaporeans aged 40 years and above to pursue a substantive skills reboot and stay relevant in a changing economy. For more information, visit SkillsFuture Level-Up Programme

Get Additional Course Fee Support Up to $500 under UTAP

The Union Training Assistance Programme (UTAP) is a training benefit provided to NTUC Union Members with an objective of encouraging them to upgrade with skills training. It is provided to minimize the training cost. If you are a NTUC Union Member then you can get 50% funding (capped at $500 per year) under Union Training Assistance Programme (UTAP).

For more information visit NTUC U Portal – Union Training Assistance Program (UTAP)

Steps to Apply UTAP

Note

SSG subsidy is available for Singapore Citizens, Permanent Residents, and Corporates.
All Singaporeans aged 25 and above can use their SkillsFuture Credit to pay. For more details, visit www.skillsfuture.gov.sg/credit
An unfunded course fee can be claimed via SkillsFuture Credit or paid in cash.
UTAP funding for NTUC Union Members is capped at $250 for 39 years and below and at $500 for 40 years and above.
UTAP support amount will be paid to training provider first and claimed after end of class by learner.

Appeal Process

The candidate has the right to disagree with the assessment decision made by the assessor.
When giving feedback to the candidate, the assessor must check with the candidate if he agrees with the assessment outcome.
If the candidate agrees with the assessment outcome, the assessor & the candidate must sign the Assessment Summary Record.
If the candidate disagrees with the assessment outcome, he/she should not sign in the Assessment Summary Record.
If the candidate intends to appeal the decision, he/she should first discuss the matter with the assessor/assessment manager.
If the candidate is still not satisfied with the decision, the candidate must notify the assessor of the decision to appeal. The assessor will reflect the candidate’s intention in the Feedback Section of the Assessment Summary Record.
The assessor will notify the assessor manager about the candidate’s intention to lodge an appeal.
The candidate must lodge the appeal within 7 days, giving reasons for appeal
The assessor can help the candidate with writing and lodging the appeal.
he assessment manager will collect information from the candidate & assessor and give a final decision.
A record of the appeal and any subsequent actions and findings will be made.
An Assessment Appeal Panel will be formed to review and give a decision.
The outcome of the appeal will be made known to the candidate within 2 weeks from the date the appeal was lodged.
The decision of the Assessment Appeal Panel is final and no further appeal will be entertained.
Please click the link below to fill up the Candidates Appeal Form.

Job Roles

Accountant
Bookkeeper
Financial Controller
Business Owner
Finance Manager
Accounts Payable Specialist
Accounts Receivable Specialist
Financial Analyst
Small Business Consultant
Office Manager
Payroll Administrator
Budgeting Specialist
Tax Preparer
Accounting Clerk
Finance Coordinator

Trainers

Gary Chan: Gary Chan is a ACTA certified trainer. Gary Chan is a Chartered Accountant (ACCA, UK) and a member of the Institute of Singapore Chartered Accountants (ISCA). He has a MBA in International Business from Henley University (UK) and a Master degree in Strategic Marketing (Ireland). He is an ACTA certified trainer.

Gary has more than 20 years in business and financial management responsibilities in multinationals and local SMEs and more than 10 years’ experience of teaching/training/consulting in financial, business management & development, sales and marketing and leadership.

Bell Ang Chai Huat: Bell Ang is a ACTA certified trainer. Bell Ang is a Certified Practicing Accountant, member of CPA Australia. Approved mentor of Singapore Accountancy Commission. She is an ACTA Certified trainer and Xero Certified Advisor.

With more than 40 years working experience, Bell has held positions both in the Accounting/Finance and IT consultancy positions in various industries.
As an IT consultant, Bell specialises in the financial systems for example, Oracle financial, Scala. She has successfully led and handled more than 20 projects with full implementation and conducted several in-house and clients' trainings.

Malcolm Soo: Malcolm Soo is a ACTA certified trainer. He is a chartered Accountant. Have more than 20 years Accounting/Tax Experience. Currently, a freelance accountant and trainer for the following: LCCI 1 & 2, Accounting for Non-Financial Professional and QuickBook.