Are you looking for accounting software in Malaysia? The financial health of a business can be monitored by using an accounting software. As one of the six components in accounting information system, the software plays an important role in maintaining both the efficiency and effectiveness. In general, the utilization of accounting software helps to automate entries, manage invoices, handle financial reports and much more.
Nowadays, the accounting software industry is getting more competitive as there are many solutions available. They are constantly improving with similar affordability. Besides, various types of accounting software are designed to cater different needs of organizations. For instance, commercial accounting software is best for small- to mid-size businesses, while larger companies with complicated operations often prefer enterprise accounting software.
After the GST implementation on 1 April 2015, a good accounting software in Malaysia need to be able to support GST accounting, preparation and submission as well as being user friendly. So which accounting software is the best?
Here are a few popular options of accounting software in Malaysia for small and medium businesses (SME):
This software saves you from the persistent problems like data lost or corrupt because every financial detail is uploaded, stored and managed in the cloud. It is hassle free as there is no need to maintain paper accounts. It comes with this flexibility on the layout with a customizable grid. It would be highly beneficial to the users as it takes little time for managing the accounts and balance sheet. The software gives fast access and its excellent functionality keeps things organized since all the works can be posted in real time. The option of restore and backup also build a reliable database. Meanwhile, the multi-level access right control creates better security.
It is easily set up with the Easy Setup Assistant and one can have smooth navigation in between accounts, banking, sales and contacts. Tax time can be saved with this software online as the finance can be properly managed by the business professional with the access on real time basis. The user can stay up-to-date with all the financial transactions and work in accordance with the accountant. It also helps to reflect instant results on Goods and Services Tax (GST) with its simplified calculations. Such function helps you to meet GST obligation such as keeping tracks on taxable supplies processed and submitting GST return by the due date. Besides, the handy mobile apps has facilitated the management by allowing the user to access necessary information from anywhere at any time. MYOB warrants quality service by making their technical solutions available at the user’s fingertips.
It is unique as compared to other accounting software as it offers different designs of accounting temples. This software makes it easy for the user to track all the purchases, collections and sales because it keeps all the financial records smartly in a single place. The documentation of inventories also stays up-to-date with the help of this software. In addition, the analytic tool is able to generate print copy. An immaculate report can be expected and customized with the support of a dedicated team, even with an odd financial date.
This software has simplified the accounting process. It prepares all the Account Receivables (AR), General Ledger (GL) and Account Payables (AP) at ease. All the financial details integrate easily with payroll system because it is a software which allows a full integration to the user. It is a revolution against the awfully time-consuming manual accounting by meeting all the business requirements with one go. It comes with a Wizard Setup which speeds up the setup processes. Meanwhile, Transaction Wizards steadily guide the user to enter transactions. This software is easily downloadable and technical support is provided without a fuss.
It is widely known as the user-friendly accounting software. All the strong features such as the availability of user audit trails and date sensitive report output can fulfill business requirements. It runs in the cloud and gives the user real time service. It provides information on forecasts, cash flow status, and break-even point. The tools also allow processes to be carried out in a systematic manner. For instance, the inventory management is made easy with the inventory software as the invoices can be easily created, records such as stock balance, invoice management, and staff details can be kept well. Different report formats are also available for the same report type.
The uncomplicated user interface with high reliability gives good support to the user’s business. The financial records can be transferred to MS Excel in a clean manner. Transactions from multiple companies become easily manageable by the use of this software. The multi-currency function enables the user to broaden his business at the comfort of maintaining the balance sheet with little troubles.
It is designed to handle invoices intelligently as you can create quotes and invoices instantly. To monitor the receivables has become effortless. The ability to track GST within invoices, expenses, and purchase order is helpful because the Form GST-03 can be generated in one click. The receipts are then forwarded through online without any difficulty. The convenience of creating a recurring invoice will be advantageous to the user as he can save time on creating the invoice repetitively.
All the features and modules in this software are designed to equip the business a new look. This includes the latest GST features with automatic calculator support, which has contributed to the efficiency of the overall process. It offers data support so the user can freely retrieve the information he needs, even if he has no accounting experience. Full control is provided to the user and it can be modified to fit the business completely.
So Which One Is The Best Accounting Software In Malaysia?
A correct choice of accounting software is crucial to a business as they tend to improve efficiency. A number of factors to consider are: Keeping things precise from the formation of a business, the growing business needs an organized way of processing financial data, the security from the ability of immediate access, the compliance with all laws and regulations are guaranteed through the usage and the current system might be too confusing for some. It is essential for the user to identify their business requirements before making a purchase on the software. What are your business requirements? Do you need an enterprise resource planning (ERP) solution? How much are you willing to pay for the software? Would you prefer to pay a one-off price for lifetime license? Or perhaps you prefer a monthly subscription or an annual subscription works fine as well? With all the questions answered, you may proceed with your decision.
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