Singapore businesses that rent a store in a shopping mall are required to submit a portion of their sales to the mall management. This requirement is listed within standard lease agreements when renting stores within a shopping mall. It is known as Gross TurnOver (GTO)
Why Must You Submit GTO?
As a part of standard lease agreements, failure to submit GTO may cause businesses to face penalties from breaching their contract. The penalties can range from forfeiting the security deposit to forced eviction by the mall. Therefore, it is vital that tenants stay compliant and submit a part of their sales as GTO to the mall management each month.
Benefits of Automated GTO include:
1. Stay compliant
Automation ensures that your GTO submissions are submitted on time, preventing penalties such as fines or forced eviction.
2. Reduce Time Spent on GTO
Manually calculating and submitting your GTO can take up a lot of time. By automating GTO submissions, you can speed up the process and reduce the likelihood of human errors. As a result, business owners and their staff have more time to focus on higher priority tasks.
3. Resend submissions
Through GTO automation, any failed submissions will be automatically resent to the mall management. Automated GTO submissions can also be tracked, helping ensure that they were successfully received by the mall management.
Malls in Singapore
|Shopping Mall Management
|Aperia, Bedok Mall, Bugis Junction, Bugis Plus, Bugis Street, Bukit Panjang Plaza, Clarke Quay, Funan Digitalife Mall, IMM, ION Orchard, JCube, Jewel Changi Airport, Junction 8, Lot One, Plaza Singapura, Queensbay Mall, Raffles City, Sembawang Shopping Centre, SingPost Centre, Tampines Mall, The Atrium @ Orchard, The Star Vista, Westgate
|313@Somerset, JEM, Parkway Parade, City Square Mall, Paya Lebar Quarter
|Frasers Centrepoint Malls
|Anchorpoint, Bedok Point, Causeway Point, Century Square, Changi City Point, China Square Central, Eastpoint Mall, Hougang Mall, Northpoint City North Wing, Robertson Walk, Tampines 1, The Centrepoint, Tiong Bahru Plaza,Valley Point, Waterway Point, YewTee Point
|Far East Organization
|Bijou, Clarke Quay Central, Far East Square, Greenwich V, HillV2, Hougang 1, Icon Village, Junction 10, Katong V, Lucky Chinatown, Mess Hall at Sentosa, Orchard Central, Pacific Plaza, Riverside Point, Square 2, West Coast Plaza, Woods Square
|AMK Hub, Jurong Point, NEX, Swing by @ Thompson Plaza
|Marina Square/Singapore Land
|18 Tai Seng, Alexandra Retail Centre, HarbourFront Centre, Mapletree Business City, Vivocity
|Katong i12, Keppel Towers, Marina at Keppel Bay, Keppel Bay Tower
|Singapore Sports Hub
|Kallang Wave Mall
|Capitol Singapore (Formerly Capitol Piazza)
|Faber House, Kinex (Formerly OneKM Shopping Mall) Novena Square, Odeon Towers, United Square Shopping Mall
|Starhill Global Reit
|Ngee Ann City, Wisma Atria
|Allgreen Properties Limited
|Great World City, Tanglin Mall, Tanglin Place
|Marina Bay Sands (MBS)
We are GTO Automation Specialists!
Let us help you integrate your existing POS systems with the mall’s tenant management system! If you do not have a POS system that is ready for GTO automation, you can consider getting one of the following solutions from us.
Being one of the more popular POS solutions in Singapore, Vend can be integrated with shopping mall systems to automate your GTO submissions, thereby allowing your business to reap its many benefits.
Accentuate is an Enterprise Resource Planning (ERP) software for growing businesses. Accentuate’s many modules provide you with a wide range of tools that improves your overall operations.