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.

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

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!

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.

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.

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

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

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.

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 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 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 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.

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.

To sign up to Binery with Xero:

• Open our web app and click Sign Up with Xero.
• Follow the instructions to authenticate the connection with Xero.
• Your dashboard will be populated with your data automatically.

To connect your Binery account with an existing Xero account:

• Complete your profile by following the onboarding instructions.
• Click Connect Xero.
• Follow the instructions to authenticate the connection with Xero.
• Your dashboard will be populated with your data automatically.

Binery’s Xero integration provides a one-way data sync from Xero to Binery.
Binery pulls data from your Xero reports, including Profit & Loss, Balance Sheet and Budget Summary, and subdivides the contents under the following headers:

Disconnecting from Xero removes Binery’s authorisation to connect to Xero. If you need to import your Xero data again, you will be prompted to log in and reauthorise Binery to connect to Xero.

To disconnect your account from Xero:

• Click on the Settings Icon at the bottom left of the side bar
• Go to the Connections tab.
• Click .Disconnect from Xero.

Missing reports

In order to import data that powers the dashboard, your Xero organisation must have at least the Profit & Loss and Balance Sheet reports available and filled with data.

Missing variables/accounts

A few missing accounts will not impede data import, but the insights that use the missing accounts may not work as intended.

If your concerns weren’t answered, please contact us and we’ll get back to you soon.

Our system design and policies follow standards set by the HKMA, while our data encryption is based on the NIST Cybersecurity Framework. Data storage is powered by Google Cloud and backed up daily, and access to your data and documents is restricted to you, your Binery accountant, and parties you have given us permission to. As of August 2022, we are currently securing an ISO27001 certificate, which is the international standard for managing information security.