SME Accounting Software Singapore

IRAS Approved Accounting Software

Up to 70% Grant for Qualified SME 

SME Accounting Software Singapore

Why Accounting Software is important for SME?

Most of the SMEs are facing tight Human Resources and Cash Flow from the start of their business. More resources and funds are required when the business is growing. Thus, it is critical for the business owners to focus their resources in business development and have a tight control over the cash flow and receivable. Having the right Accounting Software or ERP Software will reduce their resources to manage the administrative work and having timely and accurate information to monitor financial and sales performance.

What is the Best SME Accounting Software?

The Best SME Accounting Software for your organisation should be an affordable solution that is powerful and reliable to support your business needs and accounting requirements. However, most of the software providers will like to differentiate their products from the competitors by adding some unique features in the standard modules. It is a tedious task for a small business owner and an accountant to evaluate each of the features, especially you do not enough resources. Getting help from the accounting firm and software consultant will be a good alternative as they can provide valuable advice in term of operating processes and check whether the system is IRAS and GST compliance.

The Common Features of the Small Business Accounting Software

  • Chart of Accounts
  • Cash Book 
  • Payment 
  • Receipt
  • Journal Entry
  • Account Inquiry
  • Reports 
    • Journal Voucher and Journal Entry Listing
    • General Ledger
    • Trial Balance 
    • Profit & Loss Statement 
    • Balance Sheet
  • Sales Quotation
  • Sales Order 
  • Delivery Order
  • Sales Invoice 
  • Debit Note 
  • Credit Note
  • Price adjustment
  • Goods Return
  • Email Function
  • Reports (Print and download)
    • Invoice Listing 
    • Sales  Analysis Report
  • Purchase Order 
  • Good Receipt Note
  • Purchase Invoice 
  • Debit Note 
  • Credit Note
  • Price adjustment
  • Goods Return
  • Email Function
  • Reports (Print and download)
    • PO Listing 
    • Purchase Invoice Listing
    • Good Receipt Note Listing
  • Customer Maintenance 
  • Invoice entry
  • AR Receipt
  • AR Debit Note 
  • AR Credit Note  
  • Email Function
  • Reports (Print and download)
    • AR Invoice Listing
    • AR Receipt Listing
    • AR Receipt Voucher
    • Debtor Aging Report 
    • AR Balance Report
    • Debtor Statement of Accounts
  • Supplier Maintenance 
  • AP Invoice 
  • Miscellaneous Purchase Invoice
  • AP Payment
  • AP Debit Note 
  • AP Credit Note  
  • Email Function
  • Reports (Print and download)
    • AP Invoice Listing
    • AP Payment Listing
    • AP Payment Voucher
    • Creditor Aging Report
    • Creditor Balance Report
  • Item Master Maintenance
  • Stock Receive
  • Stock Issue
  • Stock adjustment
  • Stock Valuation Method
  • Stock Inquiry
  • Reports
    • Stock Balance 
    • Stock Movement Report
    • Stock Aging Report
    • Stock Valuation 

What Accounting Software is suitable for you?

Some of the free accounting software and small business software are designed for the micro business owner who does not have an accounting background to follow the standard accounting process and control. The main functions that they are offering are merely providing a tool to do the invoicing and recording the bank transactions. This kind of software is more suitable for the start-up without many transactions. 

Generally, a web-based accounting is more suitable for small SME as they have more advanced functions like bank feeds, online ordering, dashboard and mobile invoicing. Most importantly is the business owner can access the information anytime, anywhere, The limitation of some of the software does not have an inventory module, POS system and warehousing system. So it is important to select a system that matches all your requirements and the system can be integrated with another business system seamlessly when you expand your business.

If your business has outgrown your current accounting system, you may need to consider the ERP Accounting Software for SME. ERP solutions integrated with the rest of the operational software to provide total solutions to the organisation. Find out from us the pre-approved government grants up to 70% of the ERP Price for qualified SME.

Getting the right Accounting Software is the key to success

What can we help you?

As part of our professional services, we are combining our expertise with digital technology. We have identified and evaluated a wide range of well-established accounting software to be our partners. Most of our ERP and payroll software are supported by the pre-approved grant. If you are looking for an accounting software to streamline the accounting process and manage your entire business, contact us for free consultancy service. Find out how to get free accounting software from us!

Factors to consider when choosing the Accounting Software

Pricing

Evaluate the Free Accounting Software and Cheap Accounting Software to make sure they are the reliable vendor and have good support if you consider using one of them. Compare the price with functionality when you want to maximise your budget. You may want to consider the SME accounting software that is supported by the government grant.

Cloud Solutions

The Cloud Software is efficient and effective for small SME, especially you don’t have in-house IT support. You can perform your business transactions 7/24  and the option of not having a physical office.

IRAS Approved ?

Are you GST registered or will be registered in the near future? IRAS approved accounting software will have the function to print tax invoice with GST and print GST report for submission to IRAS.

User-Friendly?

Is the accounting software user-friendly and easy to implement? The accounting software shall help you to increase the efficiency and provide you dashboard and charts to monitor the company performance.

Software & Customer Support

Software and customer support is the prime factor to consider when selecting the accounting software. As the online accounting software needs to support the business at any time. Poor support will affect the business operations if there is any doubt or problem cannot resolve promptly.

Data Security

Choosing a reliable online accounting software provider is to ensure your financial data is stored and backup safety in the external server. One of the disadvantages of web-based accounting is that it can be difficult to extract the whole database if you decide to change the accounting software.

Integration with other software

Most of the small accounting software is focusing on the basic module to simplify the accounting process and at the same time, they allow other business modules to integrate with it to cater for the business needs like inventory, POS system, e-Commerce. Choose the software that is flexible in this aspect will help to scale your business.

Special Module

If your business is in the specific industry, you may need a special module to take care of your operations, instead of integrating a few of third parties modules, you may consider ERP software for SME which can take care of project management, mobile app, e-Commerce, inventory management. ERP software usually allows customisation to suit your business needs.

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