Looking for accounting software suitable for Malaysia business ? Are you running a small or medium-sized business and finding it hard to keep track of the flow of all your finances? Hiring an accountant is one thing but, to save time using accounting software that is efficient and effective and best suited to your firm and the legal policies of the country of operations is more beneficial. It helps boost the financial growth of your business while enabling a good check-and-balance of the books, expenditure, sales, etc.
Moreover, with the advancement of technology, the software is becoming more and more efficient every passing day. Therefore, to be ahead of your competitors, you need to be up-to-date with all the advancements. An accounting software helps you in bookkeeping, managing your invoices, keeping a track of all your financial reports. Most of them help keep track of SST within your cash flows. Moreover, they help keep your data safe, traceable, and easily accessible whenever needed.
Now that you understand how crucial opting for an accounting software is for the success and rapid growth of your business. Not only that, it helps in keeping your business financially safe by abiding by all policies and keeping all the records and books.
You might be wondering where do I find a suitable accounting software for my business? Well, there are numerous options to choose from. We have come up with a list of the 7 best accounting software in Malaysia that will save you time.
SQL Accounting
SQL Accounting is one of the most unique accounting software in Malaysia. It features an option of keeping all your financial records from sales, transactions, etc. efficiently in one place and it also incorporates various design templates for accounting. It has an effective way of documenting all inventories and updating them efficiently with time. You can choose either to use the software based version or use the latest cloud based version.
MYOB
Next on our list is MYOB. This software helps ease in getting tax returns and it saves tax time. It is easy to set up and has an easy-to-navigate interface between sales, accounting, contacts, etc. This software is easy to use, and it comes with an efficient app as well that helps you never miss any due dates. It keeps you on track with fast GST-based calculations without you having to hustle here and there much.
AutoCount
Autocount helps you in better storage and rids you of keeping paper accounts and hard copies of transactions, etc. It has an integrated cloud system that helps you update your accounts in real-time and saves your time and provide better security. By security, we mean that you would not have to face problems of data loss. Moreover, it comes with a multi-level access option to distribute the workload if needed. In addition, the option of backup and restore secures your accounts like other accounting software as well.
QnE
This software is fairly easy to use and offers a systematic execution process when it comes to resources management: inventory management. It is cloud-based and thus allows users to use it and upload all documents in real-time. QNE has some effective features like date-sensitive report performance, user audit trail availability, forecast statistics, cash-flow status, and break-even knowledge that make it a good choice. The integrated inventory software in QNE helps save time and manage all inventory-related documents easily including staff and invoice information.
Million
Million is one of that accounting software that has a user-friendly interface and is compatible with Microsoft Excel. That helps in managing reports that are mostly handled in MS Excel format. It is less feasible and adaptable when the business expands and becomes more complex. But, it can handle multiple currency inputs thus helping those dealing with multiple currencies. It also has a function of handling multiple business accounts.
Intuit Quickbooks
The main pro of Intuit Quickbooks is invoice management. It has an amazing invoice management system. Now, you can easily generate invoices and quotes with Intuit Quickbooks. It helps track your receivables in no time. Moreover, helping you track GST within purchase orders, all your expenditures, and invoices since it can easily generate GST-03 form. It allows the electronic transfer of receipts easily. Saves you time by allowing a generation of a recurring invoice as well.
Sage UBS
Sage UBS is simple to use and setup without the need for continuous technical support. You can easily set up the account receivables, payables, and general ledger quickly since it has an effective user interface. It can connect the payroll system with all your financial data quite efficiently. It comes with a Wizard System that results in faster and easier installation. Sage UBS is readily available and can be downloaded easily.
Conclusion
And this concludes our list of the best accounting software in Malaysia. Several factors come into play while choosing which accounting software to use. For instance, you need to know how big is your business and its prior growth period. Secondly, you need to be aware of all the necessary legal regulations related to finances. Are they supported by the chosen software? Moreover, you must know what are your aims and goals for your business and how much can you pay for the accounting software.
Furthermore, you need to know your business requirements. Do you require Point of Sales (POS) system ? You need to be in-line with your requirements and with your budget as well. Would you be willing to pay a one-time for a license or buy a subscription every month? These are essential questions that need to be first answered by you before you make any purchases.
By now, you must be clear about what an accounting software does and why it is a must-have, and what are the various options among the best in Malaysia to select from. So, before taking a step, write down the answers to all the necessary questions discussed earlier. And, then go through the list again and then decide. Hopefully, this article will prove to be a great help in persuading you to make the right choice for your time and money.