Booking keeping and accounting can be one of the most tedious tasks in a business. It’s also one of the most important. That’s where automated accounting software comes in. Fewer errors and increased efficiency are just a couple of its advantages. Here, we’ve compiled a list of a few of the best accounting software in Singapore that will make your business run smoother and faster.
Sage is one of the most popular and well know accounting software programs around the world. It has efficient accounting management operations, designed for small business owners and there is no limit on transactions. Prices start at just over $10 a month. You’re also not limited to using it only on certain devices because it works on all of them. Reviewers have commented on its speed and data capacity positively. Sage 50 offers cloud-based services, but it can also operate fully offline, perfect for when you need to use it on the go.
Xero is primarily operated on the cloud. So unlike with Sage, you will have to be fully connected to the internet to get the most out of the software. The plus side of this is that Xero is able to link to your bank account, which eliminates a step for you. While the prices are higher than Sage, starting at $20 a month, you do get a lot for your money. For example, Xero can connect to the Infocomm Media Development Authority of Singapore’s invoicing network. Xero also comes with efficient IRAS tax-filing calculations.
The downsides to using an accounting software is that there is typically a cost involved. Monthly charges can add up, especially for small and new businesses. That’s where open source software can save the day. GnuCash.org is an open source accounting software that is available for free to anyone with some basic coding skills. It’s designed for functionality and everyday use, but it has some more advanced functions too. The upside of GnuCash.org is that it’s free and somewhat customizable, but the downside is that it may be difficult for someone with no tech skills to get the hang of.
Sometimes going back to basics is the best thing you can do. In the case of accounting software, that means going with a good old-fashioned spread sheet. The pros of Microsoft Excel are that it’s pretty easy to understand and most people already know how to use it. You can also customize the sheet to your exact business needs. However, it doesn’t come without some cons as well. The first of which is that Microsoft Excel is entirely run by you, the operator. Yes, it does all the math for you, but it doesn’t tell you what numbers you need to put in where to get accurate numbers. However, if you know what you’re doing, Microsoft Excel can be a great option for accounting software in Singapore.
Highnix is another heavy hitter in the accounting software industry. It was developed by system analysts and developers who wanted to create ERP and work-from-home solutions. The combined years of experience that went into making Highnix definitely come through in the final product. Highnix itself was designed to do a lot with a little, but it also can be integrated with other third-party software for more personalized and advanced function. It also comes with Peppol ID registration and a Peppol In-voice system that’s online. The system is cloud-based so it will need an internet connection.
There’s nothing wrong with something simple as long as it does the job you need it to. FreshBooks is a simple, no-frills accounting software in Singapore that’s incredibly affordable without sacrificing on quality. It offers access to accountants, a tax-filing service, and a time-tracker for maximum accuracy. The cost starts at only $6 a month, making it one of the most affordable accounting software out there.
There are plenty of great accounting software in Singapore. Which one is best for your business will depend on your budget, exact needs, as well as how much time you’re willing to spend inputting data. Accounting can be tedious, but that doesn’t mean it should be skipped over or left to the last minute. Using an accounting software is a great way to boost efficiency while decreasing the number of human errors you have to deal with.