Late payment do you arrived at this figure?

Sounds familiar? The one that owes a late payment interest (your SP), will most often challenge the way your system calculate the late payment interest.

We have seen some system just generate a lump sum, $0.61 and you will not know how this figure was derived and you work it out separately in your excel spreadsheet to show this SP the breakdown.

If you are lucky, you get the answer in a minute, otherwise if there are errors or omission, you may spend hours and later to pass a credit note
to reverse out the late payment interest and to re-generate again.

At Realtimme Cloud, we show the calculation how the late payment interest amount is calculated, together with the formula.

Even months later, your SP can challenge the amount, you can always refer to the record to verify again



Writer : Choo Hong Peng,
Chartered Accountant,Singapore
Email :





Paying in excess to the vendor – Do you allow this?

If you are the managing agent, the operational staff prepare all payment voucher manually and then you take it up into the system by your accountant, weeks later.
You will have this problem.

1. This is double work
2. The amount may be seriously bigger than this $60 in excess
3. You are giving your supplier a better cash flow
4. Additional work to undo the error

The correct way is to directly enter into the Realtimme Cloud payment system by the operational staff, and offset against any outstanding supplier invoice and print out a payment voucher directly
In this way, you will totally prevent overpayment



Writer : Choo Hong Peng,
Chartered Accountant,Singapore
Email :




Statement of Accounts to your SP

Do you see the picture above familiar? Stacks of envelops ready to be sent out?

Chances is that you are not sending the SP statement of accounts via email, and your current system do not support direct email from the software you are using.

There is a trend of younger owners and they are requesting for statement to be sent via email. They want paper-less to save the environment.
You can manually attached the SOA via email one by one, but still there are still too much time and effort involved.

You are also incurring additional printing and stationery costs (stamps, envelops, paper, printer peripherals etc.)
What if the mail is lost, your SP do not receive in time? You get paid much delayed because it take 2 or 3 days to reach the addressee.

Our Solution :

Click below, a less than 2 min video, how Realtimme cloud can easily click away 1000 SP accounts and send the statement via email every month

How to send statement of account direct from system built-in email

What if we tell you those managing agents that are already on board Realtimme Cloud are enjoying the benefits of direct email SOA feature.
What are you waiting at?


Impress your SP how your operation is harnessing technology.


Writer : Choo Hong Peng,
Chartered Accountant,Singapore
Email :



Resigning en masse…are you prepared?

Hi business owners or managing agents,

It is not unheard of that a manager resigned and the rest of the colleagues follow suit en masse
Whether they set up the same business to compete with you or join your competitors, the fact that it create a vacuum in your operation, may it be partially paralyze or totally crippled, that is not where you want to be.

It happens in all industries and you should not let it happen to your business.

Are you exposing yourself to such a business risk ? It could be no fault of yours that your staff resigned en masse, regardless, but your day to day business will be badly disrupted, and that all your projects will be at risk of not meeting the client’s service level.

How are you going to prevent this, or at the least, do you have a plan B in place before anything happened? For a start, let your team knows that you have plan B with you and will have no impact on your business even if they attempt to disrupt your business?


In my earlier blog, I had suggested that, you, as a business owner, can have a mix of internal and part out-source your accounting functions to us.
We can start off with a single project and build on from there to more projects.

Advantage is, there is no additional cost to your Plan B to out-source.

Let our remote accountants be part of your plan B.



Writer : Choo Hong Peng,
Chartered Accountant,Singapore
Email :





Partial payments result in multiple late payment charges

As time is getting from bad to worst during this pandemic season, employees are having their pay cuts or totally losing their jobs, and no light at the end of the tunnel, Some SP are struggling to pay their quarterly Managing fund  and Sinking Fund bill. We have users telling us that their SPs are paying partially, by $500 on their bill and 2 weeks later another $300 and so on and so fourth and can go on for the next 2 weeks until the full payment is made.

Here come the challenge :
1. Is your finance team still using excel to work out each payment date of the late payment interest?
2. Or your legacy system do not work out partial payments when come to late payment interest?

And you are not talking of only one SP, more are coming and it is so laborious and intense and no mistakes you want to make, as it can be very sensitive when it is dollar and sense and SP can make a mountain out of a mole hill for any wrong calculations.

With Realtimme Cloud MCST software, our auto-calculation of late payment interest is accurate, regardless it is full payment made or multiple partial payments made by each SP

Save your finance team the pain of calculating late payment interest and come onboard Realtimme Cloud MCST system.


Writer : Choo Hong Peng,
Chartered Accountant,Singapore
Email :



Are you putting a square peg into a round hole?

Accounting software generally perform the same function, allow you to perform 4 major functions namely

1.Record your revenue

2.Record your purchases of goods or services

3. Collection from your receivables

4. Making payments to your suppliers

and occasionally record some adjustments like accruals, reclassifications, provisions etc.

If you are still struggling to use Quickbook or MYOB , or some out-dated legacy software, McXXXXX to maintain your projects (MCST) accounts:
You are exactly putting a square peg into a round hole.
It is very much like a car, you cannot be driving a sedan in a rough terrain. There are 4 – wheel drive cars built for rough terrain.

You know very well, that MCST accounts require some unique features that is very different for a generic industry to prepare the monthly accounts. And you or your team will be struggling to prepare what is not available, from outside the system. (Monthly budgets in excel?) every month.

By subscribing to Realtimme Cloud MCST software, we can assure your team’s productivity to increase 5 folds. The cost savings can be reflected in either taking in more projects with the same resources or to reduce your overheads. It is really your call.

Get the right tools for your team and see the increase in your ROI



Writer : Choo Hong Peng,
Chartered Accountant,Singapore
Email :



Accounting software – What are the various after-sales services available?

After you had signed the paper on the dotted line, honeymoon is almost immediately over. No, I am not talking about marriage in life, but a marriage in business(not much difference anyway).

When you are in the service line , managing your customers (users) expectation can be a challenge. You have very little time to explain to them that we worked on an optimum resources to handle all support at the same time, but to prioritize the urgent ones first and you will be the last in our lists.

Some put you through a list of automated options before you can speak to the customer service officers (banks), Some leads you to their online help resources by keying in some keyword search. Others do not even have a person to speak to at all.

So, before you embark on any software subscription, find out what are the after-sales service options they provide and each plan comes with what options of support.

Below are the commonly available support services provided by vendors
1. Online help resources
2. Video help resources
3. Forum discussion
4. WhatsApp chat
5. Email support
6. Helpdesks call in support
7. Remote access support

While some vendors have a mix of one or more options, but you hardly have one that have all the available options. Here are some skills to access each options.

1. Online help resources – find out how regular the resources are being updated. Monthly is best, half a year is good but once a year is bad. Big screenshots with step by step buttons is a plus.
2. Video help resources – Voice over is a challenge for user if the speaker has a strong accent. Text guide is a better option.
3. Forum discussion – This is when users have exhausted all avenues and no reply from the vendors that ussers seek help from the forum.
4. WhatsApp chat – When your situation is from urgent to not so urgent. You send in your videos or snapshot of your screen of your issue(s).
This is less formal where you want a quick clarification only or avoid the formality of an email.
Check out the response time, but let us be fair, if you send a query at 2am in the morning when it is their sleeping time. But if you do get a response, they are doing a good job.
5. Email support – Usually this is when immediate response is not required or some official notice or some serious commitment from each other,
when WhatsApp takes over the bulk of the support requests.
6. Help-desks call-in is less common, now that WhatsApp support provide a better picture of the issues at hand. Likely that you will be advised to take a picture and send via WhatsApp
7. Remote access is when all the above still unable to solve the problem that you allow remote access to your system.

We at Realtimme Cloud, provide all the options available to our users and the most popular is WhatsApp support (+65 9138 7918) , which we also encourage, for a picture speaks a thousand words and video speaks millions.
While we keep our online help-desk resources updated regularly upon any release of new features and functions, user can also find out when were the new features of functions were added and if it Is of relevance to them, and if it is, how to apply to their company use. We also enhance and update our screen capture with how-to videos for those that do not like to read.

Our email support, we ensure that our user will get a reply on the same day for any mail on or before 4 pm. We leave an uninterrupted stretch of time from 9 to 10 am and 5 to 6 pm to deliver quality work for you.

Our email reply does not mean an immediate solution to your questions, but to acknowledged that we have received your email. But we sometimes do, if they are commonly asked questions and we have a solution to it.
For those that requires more investigation or less urgent, we have the discretion of setting the response as urgent to low priorities, because we want to let our users know that not all cases are urgent. This is to enhance our user’s communication and manage user’s expectation. We do hear our user’s out if they can convince us that their case is urgent.

By committing and subscribing to an accounting software as a service (Saas),  is like going into a long term business relationship, just like any other relationship, must be based on respect and trust, understanding and keep all communication open, because we start with you…we grow with you.

Writer : Choo Hong Peng,
Chartered Accountant,Singapore
Email :


Do you have a feedback channel for all grievances or whistle to be heard?

Lets’ face it, all business owners will have a fare share of complaints and bitter experiences their customers had with your company products, services or worst, both, or even the front line staff. Whistle blowing is another more serious matter for any wrong doings by any rank in the company.

We have a fair share of our bad days, but that should not be an excuse for us to show our impatience. You want your team’s direction to be aligned, everyone’s action or word, no one is to drop the ball.

It will start off with ” I want to speak to your boss” and you may not be there during then.

Look at it positively. If he wants to see you, he wants your company to improve and he bothers to feedback to you. The other end of the stick is he will just walk away and your competitor will welcome him with open arms and worst, you don’t even have a chance to explain.

My suggestion is to have an email made known in your website , example or Let your customer know that this email will reach the management and all correspondences will be kept private and confidential.

Our email is

Another group that may feedback to you is your vendor that deals with your managers at operational level and never have a chance to meet you and they have grievances to share with you or whistle blowing your staff.

As your company grow, you may not be able to be at all the place at all the time. Provide an avenue for anyone who want to get your serious attention. Usually people will go to your web page to click on [Contact Us], place all your email there ,   example





Make it obvious that they can only choose [4] to file their complaint or compliments.

Or unless you are willing to let this customer go ( note that customer is not always right), listen to what they have to say and give an appropriate response that will save your company reputation even you may not be in the wrong and you do not want to go there.


Writer : Choo Hong Peng,
Chartered Accountant,Singapore

Email   :

As at 20/08/2020





Expanding your business without increasing your headcount

Hi all managing agent,

Are you expanding your business by going for more projects? Can your existing resources cope with the increase?

Two things you can do

  1. Use the right tool, ie change your accounting system to Realtimme Cloud MCST software
  2. Out-sourcing your MCST account to our remote accountants with our subsidiary company, Realtimme Plus Pte Ltd                 (UEN: 201132092K)
    Or all the above

In this trying times, businesses are trying to keep their overheads steady but always on a lookout for new projects in case some projects go away and to remain sustainable.

With the latest technology, we go paperless with your contract vendor, you will have access to the work that is done and a consolidated report will be sent to you every month together with our invoice. We have a team of experienced remote accountants specialising in MCST accounts and are ready to serve you, with no restriction to office hours only.

But before anything, work out your numbers to know the real cost ( office space, electricity, allowances , salary, cpf etc) how much it cost you to maintain your project’s accounting service.
Using the number of SP as a basis (total cost to maintain a staff divided by the total number of SPs X projects each staff is handling) is a good gauge of your project costs.

If we can half it, and we will try to half it, it is worth exploring.

No, we are not trying to take away someone’s lunch, cause that someone also has a family to feed too.

But we always believe, that business owners like you deserves another choice of how you want to run your business, a fully auto, a fully manual or a hybrid of in-house or part out-source. And what if there is an exodus of staffs where one of them came out to do start their own business and be your competitor?  Do you have a team to stand by? These are the challenges that we business owners have to face, both outside and inside forces.

We can start off small with a micro project and as you are more comfortable, give us more projects.


Send an email to our team lead, Mr.Michael Wong (CA, Singapore) to get more information


Writer : Choo Hong Peng,
Chartered Accountant,Singapore

Email   :

As at 19/08/2020







Migrating into and out of an accounting software

Changing from one accounting software to another is like moving a house from one place to another. It is never a fun thing, but if you have to do it , means you have to do it.

The keyword is …it must be fast and easy.

Business grow and you find that your current system is not serving you as well as it used to be and moving forward, you will need more state of the art features or robust system, when you want to move out of your current system that almost breakdown regularly or files get corrupted if you are still using the desktop versions.

But before you jump into another new system, (even though we are seeing new users migrating to our system rapidly) we always tell our potential users, that even if you finally decided not to choose us, please make sure that you can easily exit from the system when the time is near , as easy as you move in. Bear in mind you can only print reports out from any cloud system but you do not own the database structures.

Why we say that? Sorry to say that the motivation to design it to let you migrate in is greater than to design something to let you migrate out easily, for obvious reasons.

Then why do we say this? For we spent equally much effort to let you move out, as how you easily moved into our system. We were users ourselves and we do not like this feeling at all, so we accept the fact that you had decided to go, and we want to make it a gracious exit.

We provide you steps to extract your chart of accounts, strata roll, and vendor listings  into excel and let the next vendor to pull into their systems.

Your aging (b/f) of your SP and vendors  and your trial balances at your cut-off date can be sent to excel, in nice proper cells and columns.

So the question you have to ask the next vendor is…can you show us how easy is to export our strata roll out of the system into excel? It is a good practice anyway to keep a copy outside the system as a backup.

Get them to demo for you, make sure that the exported cells are independent and in neat columns and rows and not merged, so much so that you need to massage the fields again.

A lot of users are concern about moving in but not the moving out (a few years later). But you, as a business owner, you will have to ask,  don’t leave it to your staff to ask this question for they may not be involve in the moving out, by then, for obvious reasons.

So whether you have 10,000 SP listings or 2000 vendor listings, all must be at a click of a button.

It is not unheard of that company changed software or project come and go in the next three months, you must make sure that you are able to move the system in and out quite quickly.

Writer : Choo Hong Peng,
Chartered Accountant,Singapore

Email   :

As at 18/08/2020