Funding and Support
Accountancy Job Redesign Initiative
The Accountancy Job Redesign Initiative is targeted at enterprises which include organisations with in-house Finance and Accounting (F&A) functions and accounting practices. The initiative helps enterprises which seek to enhance the roles of F&A professionals and tap on technology to improve productivity of the function.
Support for Job Redesign under Productivity
Solutions Grant (PSG-JR)
Eligible enterprises will receive funding support through PSG-JR for job redesign related consultancy costs incurred in their projects. There is enhanced funding for PSG-JR at 80% of JR consultancy cost, capped at $30,000 per enterprise till 31 March 2022. Thereafter, the PSG-JR funding rate will revert to 70% of the JR consultancy cost, capped at $30,000 per enterprise.
Skills Future Enterprise Credit (SFEC)
On top of the above funding support for PSG-JR, eligible enterprises can also tap on the SFEC to defray out-of-pocket (OOP) expenses for supportable programmes and components. Eligible enterprises will receive a one-off $10,000 credit per firm to cover up to 90% of OOP expenses. More details can be found here.
PSG-JR funding does not cover the procurement of accounting technology solutions. Enterprises may wish to apply separately through funding schemes such as:
- Infocomm Media Development Authority – SME Go Digital Programme
- Singapore Accountancy Commission – RPA Adoption Scheme (only accounting practices can apply)
- Enterprise Singapore – Enterprise Development Grant