Accounting Software Singapore
There are over 100 different types of accounting software used by corporations worldwide. However, not all accounting software can fulfil the technical requirements from IRAS in Singapore. For new startups, SME or small business owners, before making your decision to purchase your first software to assist you with tax obligations or to upgrade your existing one, it is recommended to check with IRAS if the owner of your chosen professional software has submitted for compliance. You can find the current status of all accounting system and the software owners being listed on IRAS Accounting Software Register. However, it is your responsibility and diligence to verify the security aspects of the listed accounting system before any implementation. If you do qualified on scheme such as IRAS’ Productivity and Innovation Credit or PIC, you can also apply for subsidy to help cut down on business expenditure if your company is buying the software listed on the Register.
IRAS Compliant Accounting Software And Benefits
Besides making sure that your accounting software is compliant with Singapore IRAS, do find out what are the benefits and features the software developer company or software service provider can provide and whether your system can support it. For most SME business owners, it is the time saving features, easy bookkeeping and ability to make daily accounting to be so organized, fast and secure that attract business owners to implement for their business, even for small business with no employees.
- Have you ever been any situation where the receipts which you kept over a period of time have become blank or the ink has faded that makes reading impossible?
- Would you make a copy of all your receipts with your copier machine before keeping them in a file for bookkeeping purpose?
- Will you find it more convenient and efficient if your business can have detailed tracking of all expenses with attachment of receipts digitally?
Yes. That is the capability of most of the advanced system that not only allows you to create invoices professionally to print or email to your customers, log your expenses with photo attachment of receipts but also provide the ease of online payment to your business from customers’ desktop or mobile devices. If you are looking for automation and help in payroll management system, accounts payable and receivable, make sure you get the right accounting software for your business. Singapore SME business owners can now have more insights to business development, profit and loss any time with the generated reports and so much more with the affordability of accounting software in Singapore today!
Cloud-Based Online Accounting Software
Due to the advanced network infrastructure, there are many types of cloud-based or online accounting software available in the market today to help companies computerise and manage their accounts. The bookkeeping system facilitates cost accounting in recording all incurred costs in a more efficient way for SME to improve its management. From past bookkeeping experience with SME, our team find upgrading to latest bookkeeping software is one of the best and fastest solutions to many management accounting problems such as security issues of data, lack of training, no further support provided by professionals, inaccurate reporting details and data corruption. A lot of work is now simplified and updating bookkeeping form is easier even for new SME company incorporation by keeping things more organized and professional with proper way of tracking past transactions like an expert. They are used by accounting firms in Singapore to provide useful professional management information which can be obtained easily to improve productivity and preparing the audit or account balance reports for SME entrepreneurs. Search for a proper bookkeeping system to take care of your business needs. Outsource to get these useful system to help create necessary forms, automate many processes for bookkeeping services where the full stock records, bank transactions, customer records are updated accordingly and an order form report can be converted into a sales invoice automatically.
Accounting Software Singapore Review
One of the best resources for SME entrepreneurs where people can get a list of accounting software to consider in Singapore is by searching for “popular accounting software singapore” using search engines such as Google, Yahoo or Bing. You can get more good suggestions from accounting software singapore review websites, business websites where the writers do tests and gave great reviews and write-up about the system compatibility, advantages and disadvantages.
Here’s a short checklist for you to consider and review:
- Easy to use?
- Any time saving features?
- Able to support up to how many users?
- Reporting capability?
- Any mobile access and compatibility?
- Any service limitations such as number of invoices, transactions, customers?
- Any quality customer support?
- Cloud based accounting software?
- Supports online accounting?
Xero accounting software, Intuit Quickbooks , Sage50 are some of the popular accounting software used in Singapore business. They are cloud based accounting system which is today’s trend. Having the ability to sync online and offline data or work at any place allows work to be more efficient. Have you ever experienced the frustration and time loss to recover all your data and reinstall your accounting system when your computer breakdown? One advantage of having cloud based accounting software such as Quickbooks Online is that it can help you save time when such event happen again.
Your style of working or business niche determine the type of accounting software for your business. Do you require full accounting functionality? Most probably not. Some accounting system require monthly subscription, some support online accounting only. Before deciding which system is suitable for you, the best practice is for you to try out their trial test first, to experience yourself if it is user friendly or easy to use and whether the software company is able to provide any quality customer support.