Introducing Singapore Small Business Accounting Software
The days for bookkeeping practices on paper are long gone. With the abundance of the paid-for and free accounting software in the market, the race is now on for the best accounting software for small businesses in Singapore.
Do not go for free (open source) software because it will not be good enough for your business and customization to your businesses need would not be possible. Although free is a good place to start, it is better to go for paid-for software that can combine many aspects of business accounts. Paid for online accounting software assures you of more security for your data. It also assures you of scalability, that is, the ability to grow with the business.
Paid software has the advantage of regular and automatic updates as the vendor ensures of that. This feature is not included in any open source software.
A few tips for how to choose the best Accounting software for small business Singapore
When it comes to accounting software for small business Singapore, there are many differences in all of them. Thus, some are better than others and therefore it is better to consider the features that each one comes with. In addition, some software is futuristic such that even as your business grows, you will never need to buy another software. Cloud availability is one of the most important features because if bookkeeping software is on cloud, it can be accessed from different locations and devices at anytime and anywhere.
Recommended Accounting software to consider for small business
Sage 50 Pro is designed with small businesses in mind. This software will perform the basics of accounting like controlling the cash flow, help the owner get paid and pay the business bills, manage inventory, customers and employees, create orders for sales and integrate Excel with Microsoft word.
Then there is XTuple Postbooks, a robust software for accounting that has been designed to run in an onsite server or in a cloud environment. This is in reality a business management system with purchasing, sales, accounting, inventory/distribution and product definition are just some of the features that you will find in this software.
More accounting softwares…
Another popular accounting software for small business Singapore is MYOB LiveAccounts. Just as its name (Mind Your Own Business) suggests, this is one will allow the business owner to keep everything intact and in the house. It is a scalable program and it is best suited for businesses that expect to have many employees in future. Because it is a web-based program, it can work with businesses that work on different platforms easily.
Quickbooks online allows you to do your business while you are on the go. It is a cloud based accounting software for small business that grows with the business. It is best suited for a business that is going to upscale fast and in the near future. It can be used by people who are always on the go and want to keep on top of their accounts. Its main limitation is that it is not suited to businesses that have complex layers for transactions.
Xero accounting software is commonly known as the world’s best accounting software. Most call it the beautiful accounting software. You may like to compare between Xero VS Quickbooks, and Xero with MYOB.
Introducing Xero…The best accounting software for small business Singapore
Xero comes with almost all the features that we have mentioned here for the other software, but it goes even a mile further as being the best platform for e-commerce. It will be useful especially if you want to start selling stuff online. Thus, these firms would need accounting software that can support that, especially because of features like PayPal and Shopify. Business owners can make use of the Xero Network that is great for synchronizing transactions between different suppliers.
Because you can attach files to the records stored on Xero, you can scan important paperwork like receipts and attach them to their respective records. That would help in your year-end tax filing. No matter how big a workforce a business has, this software can handle everything. It can support devices running on Windows, Mac or Android.
Therefore, if you are sourcing for an accounting software, J Accounting Services would recommend the world’s number one online cloud accounting software – XERO. You will be glad to also know that J Accounting Services do offer you with Xero setup, training and consultation. As at year end, if you require any related accounting services, J Accounting does provide small businesses with these as well. View our monthly accounting package here.
