FAQ

Binery is a highly automated bookkeeping service specifically built for online businesses and technology startups in Asia. We have offices in Hong Kong, Singapore and Malaysia.

With Xero and Quickbooks or any other accounting software for that matter, there is usually a steep learning curve which can be time consuming, With Binery, however, there is no learning curve. We partner with Xero and Quickbooks, combined with proprietary code to manage your bookkeeping on your behalf.

Think of it as ‘CFO as a Service’ at a fraction of the cost.

Xero and Quickbooks have built powerful world-class accounting software systems. We partner and leverage their unique features to provide you with the absolute best solution for your business.

You can definitely manage your bookkeeping but many of our customers choose us because they do not have the time or expertise to do so, and do it correctly.

Yes. We can support your business if you operate in Hong Kong, Singapore or Malaysia.

We are most popular with digital online businesses, for example if you own a Shopify store, and also with venture backed startups where you have raised capital from VCs or Angels.

Bookkeeping gives you a crystal clear picture of where your money is coming and going. When your books are up-to-date, you get an accurate measure of your business’s health, allowing you to make smarter financial decisions.

Having accurate books pays off at tax time, too. When your bookkeeping is up-to-date, you avoid scrambling to get caught up before the tax deadline, or missing out on any deductions.

Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial statements. They also make adjustments to your books to ensure they’re tax-compliant.

Your bookkeeper will contact you once a month for a CFO review, providing insights into your financial statements.

We want to make bookkeeping as hands off as possible for you. You can contact your bookkeeper anytime, and at the same time, we can reduce the amount of time we bother you because of our automation engines.

You can expect your books to be completed 5 days after month end. If the cadence needs to be increased, we are happy to arrange for this to happen as well.

Depending on the package you choose, you will be assigned a bookkeeper either shared or dedicated. If you choose our Plus package, you will be working with a dedicated bookkeeper, same person, every month.

We can help you catch-up your bookkeeping with an extra fee.

If you have 12 months worth of books to catch up, we can produce a complete set of books within 2 months time.

Bookkeeping is the process of recording daily transactions in a consistent way, and is a key component to building a financially successful business. Bookkeepers take care of the day-to-day financials, like posting credits and debits, maintaining the general ledger, and completing payroll.

Our bookkeepers are located in Hong Kong, Singapore, and Malaysia, so they are well aware of their geographic characteristics. Bookkeepers generally do not have to be qualified but for service quality, we only employ qualified accountants to service you.

We only offer accrual basis accounting as this is the right method for companies that are looking to grow and scale, which makes up the majority of our existing customers.

These services can be provided but would operate under the Plus or Custom packages since additional expertise is required to address these functions. For example, payroll services would require HR experts familiar with statutory law in the jurisdiction. If you have these specific requirements, please contact our customer support or bookkeeper.

If your system can be successfully integrated with the accounting systems, for example, Stripe integrating with Xero, then you do not have to upload any transactions.

The only time you might have to upload transactions would be physical receipts where we would ask you to snap a picture using our invoice/receipt capture software.

If you have invoices and bills being sent to your email, we will set it up so that you do not have to manually forward these emails to us. The purpose is to help you automate your operations.

We refer our customers to our audit partner, McMillan Woods, which is a global accounting and audit firm that is familiar with our automated bookkeeping practice. What this means for you is that there will be less back and forth between yourself and the auditor.

We do provide tax advisory services. Please do reach out to our customer support or your bookkeeper for more information.

It is very easy to get started with Binery. Leave your email and we will contact you immediately for your free consultation.

Our operations team will handle the entire on-boarding process. You will have a single point of contact along the entire process.

You have to provide your Business Registration and Company Registry certificates to validate your business before we can get started with the trial.

We are very familiar with systems whether they are revenue generating systems such as CRMs, to cost systems, such as Payroll apps, that integrate with accounting systems. In order to build your bookkeeping technology stack, we will have to dive deep to gather an understanding of your business first. Only then can we glue and begin automate your operations, as a result automating the bookkeeping process as well.

You do not have to learn a single thing. There is no learning curve. That is the beauty of Binery. Focus on your business instead and leave the number crunching to us.

If you have an HSBC business account, we can automatically link you up to Xero for an automatic daily feed. If you are with another bank, we can be assigned your accountant in your online bank account and extract the necessary payments every month.

If we cannot download your bank statements for you. We will send you a monthly reminder to download the bank statements to send it to us.

You can contact your dedicated bookkeeper via Email, Slack or WhatsApp. You can also contact our shared bookkeepers via our customer service on our website.

We made a commitment to our customers that we will be in contact with you within 15 minutes of your inquiry. Seamless and fast response is an important value of our company.

You will be assigned a dedicated bookkeeper if you select our Plus package or above.

Please contact our customer service chat for assistance.

We can send invoices on behalf of you to your customers as well as collect your accounts receivable as well. This depends on the package you select.

We do offer HR and payroll services, where we have HR experts who are familiar with the statutory law within each jurisdiction we operate in.

We do offer CFO services. Our CFO services can include helping you budget for your year, helping you craft the financial aspect of your pitch deck to your investors, and many other other functions.

Depending on how much technology is already used in your operational workflow, the amount and type of documents to be submitted vary. Please contact us for more information.

You can submit documents via our Web Application, Email, Slack or WhatsApp, whichever channel is most convenient for you.

Your bookkeeper will notify you on a deadline of when documents, such as bank statements if there is not automatic feed available, is to be submitted in order for the books to be done on time.

We use Xero, as it is one of the world’s most trusted software and we would not compromise your trust and your company’s security for anything!

Absolutely! For startups and small businesses, we can be your Chief Financial Officer and provide you with advice regarding your finances. For bigger companies that already have a finance team, we can do the bookkeeping so your employees can focus their efforts on something more analytical during their time.

You can refer to our pricing page for more information or contact our customer support to consult. Each customer has unique requirements.

We can support your most time consuming administrative, operational, and booking tasks.

You can cancel the service at any time, there’s no minimum commitment.
However, it is beneficial to pay one year upfront to receive the best commercial offer.

You can upgrade or downgrade your subscription plan anytime. Please contact our customer support so we could assist you.

There are no variable costs. Unlike other bookkeeping service companies, we do not charge based on the number of transactions you have. What you see in the pricing plan is what you pay for.

You will not be charged extra for the services listed on the pricing page. The only time when you will be charged extra is when you upgrade a service plan, or when there are additional requirements to be met, for example, doing catch-up bookkeeping.

You can refer to our pricing page for more information or contact our customer support for a consultation consult. Every customer has their own set of requirements.

You will be onboarded to our system during your one-month free trial. The purpose of the trial is to solve a particular pain point you are experiencing and successfully resolve that pain point during the trial period. If the trial is successful, you will be credited back the amount you pay for the trial.

You will immediately experience what a bookkeeper empowered by software automation can offer to your business, at a fraction of the cost compared to a traditional bookkeeper. This means you will have financial statements delivered on time, as well as receiving financial metrics that matter to your company.

You do have to provide your credit card details during the trial period.
All your credit card information is kept strictly confidential.

Our recommended audit partner will audit your company. Binery will not audit your books to avoid any conflict of interest.

Our audit partners are familiar with how we operate, hence making life easier for you as the business owner.

There is no conflict of interest because we operate as two separate legal entities with a clear separation of responsibility.

You do not have to spend a lot of time speaking to our partner audit partner, the main reason is because they are familiar with the systems and processes we operate with.

You absolutely can work with an auditor of your choice. We only offer a recommendation and it is not a mandatory option.

We do offer tax advisory services if you require guidance. This is a separate charge to the bookkeeping package listed on our Pricing page.

You absolutely can work with an tax advisor of your choice. We only offer a recommendation and it is not a mandatory option.