List of Accounting Software Singapore
Accounting software is a computer program integrated with business applications that automate financial accounting system in any small, medium or big business environment to automate accounting activities such as invoicing, account receivable tracking, cash flow management, business analytics and many more features. Accounting software systems are designed to reduce errors on double entry, manual calculation errors, reducing paper filing and enhance productivity. The software reports financial data accurately on your financial activities and improves the quality of your accounting decisions. It can be deployed locally, or in a cloud, depending on whether you intend to manage your own updates and security.
Typically there are Cloud Base and Non-Cloud Accounting Software
Non-Cloud Base or On-premise Accounting Software
The business owner buys and owns the license of the software to be installed either on their in-house server or desktop computer. Data transfer can be real-time or send in batches after posting.
Cloud Base Accounting Software
The software is hosted in the 3rd party cloud hosting which provides security and backup features where you need to pay a subscription fee for hosting. The hosting fees are very much dependent on the size of data of the organization some of the flexible can be upgraded or downgrade as you move along.
- ABSS Accounting formerly known as MYOB
- Windows-based desktop support where you are the license owner of the software
- ABSS Premier
- A cloud-based solution relies heavily on an internet connection
- QuickBooks Online
- Small business cloud-based accounting solution relies heavily on an internet connection
- Xero
- MAC and windows cloud-based software program solution that relies on an internet connection
- Sage 50 formerly known Peachtree
- Sage 50 does offer cloud-based features, as well as the option to handle functions from a mobile app.
- UBS
- Zoho Books
- Good for sole proprietor or Freelancers
- FreshBooks
- Freelancers Invoicing Software
- IMS
- – Inventory Management Software is mainly catered for the back end for the supply chain where it is able to manage multiple customer products with high accuracy of storage information
- CRM Software
- Customer relationship management software is powerful solutions that provide us with an in-depth understanding of different customers requirements and information that enable companies to focus on their core strength, strategies in marketing campaign thus increase market share and revenue.
- ERP Systems
- Enterprise Resource Planning system is a mid-range to large accounting and business solutions that are very versatile for business to adopt in scaling and expanding their business to another level.
- Cloud base accounting software
- Is the most popular choice for the mass market adoption with very low initial investment but may add up to a substantial cost with more add-on modules.
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Accounting Software List |
Non-cloud / on premise |
Cloud based |
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ABSS |
ABSS Accounting |
ABSS Premier |
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ABSS Premier plus |
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ABSS Payroll |
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ABSS Retail Manager |
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ABSS Account edge for Mac |
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QuickBooks Online |
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Simple start |
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Essential |
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Plus |
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Xero |
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Starter (send 5 invoices) |
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Standard (send unlimited invoices) |
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Premium (multi currency) |
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SAGE |
Sage 50 |
Sage Accounting |
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Sage UBS |
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Zoho Books |
Zoho Professional |
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Money works |
Money works Gold |
Money works cloud |
Enterprise Resource Systems Solutions (ERP)
When selecting an ERP solution, you need to understand what are the needs of your organization. Are you an existing accounting software user or your organization is new to accounting software and digitization?
Selection of ERP solutions
Select a scalable ERP solution that fits your industry with comprehensive financial accounting management capabilities, incorporate with sophisticated revenue management and billing solutions, procurement inventory, warehouse and supply chain management solutions
- Modular ERP Solutions
- Integrated ERP Solutions
- Web base ERP Solutions
List of consideration for selection on accounting software in Singapore
Accounting software provides many advantages and convenience in running your business. It is an investment that provides long-term savings for your business. Most importantly is the adoption on the software for your business must be simple and easy to operate with simple setup, access, and integration with existing computer systems (e.g. printers, computer, scanner, POS). In the cloud system, you are subjected to the risk of cyber attack and a reliable vendor to managed your data security is paramount. To choose an ideal system for your business needs, you need to do your research thoroughly or consult a professional account software consultant to provide you with some advice before you jump into to bandwagon of software.
Understand your business needs: Understand the existing pressing problems in your business and list it down according to priority. What are the tasks, objectives, goals and results that you need to achieve with the implementation of new accounting software?
Compare features and price: Make a shortlist of accounting software that offers the features that you need and are within your budget. Discuss with your finance manager and accountant friends on their feedback. Hire a free professional accounting software consultant to provide you with some feedback on the user experience.
Register with the vendor, use the free trial and obtain feedback from your team to better understand the shortlisted system. Evaluate the software to see whether it provides you with the right solutions enhance your organization’s competence, productivity and efficiency.
Find out the training, implementation program and after sales support assistance the vendor will be provided. Check on the availability and eligibility on the existing approved government grant for your organisation.
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