Top 5 Accounting Software in Malaysia (2020)

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Best Accounting Software in Malaysia – 2020 Reviews

97% of businesses in Malaysia run small companies and medium-sized enterprises. Most are using basic accounting software to streamline financial processes for companies. It monitors sales, purchases and transactions with an interface which is quick and easy to use.

Using simple accounting software is important to keep track of your business success. It helps users to keep all the details providing a clear image of the financial security of the company. With the software profit margins can efficiently handle bookkeeping and allows expense and sales tracking to improve. Accounting is the key part of every business; therefore every company needs an accountant or easy-to-use accounting software to efficiently manage its company.

It is essential for any company to get accounting software that is tailored to the legal and business framework in a country. Every country has different standards and practices regarding accounting. There are numerous accounting software you can find here in Malaysia, but here are the list of the 5 best and popular accounting software that can be used for your business.

  1. SQL

SQL Account is a complete suite of GST accredited accounting software that is targeted to Malaysia’s small and medium-sized businesses. It is a cloud-based platform that includes all accounting functionality for example receivable account, billing, invoices, management of GST Tax and reporting functionality.

SQL is considered as one of the top accounting in Malaysia. It’s quite special as it provides specific accounting template designs. This program makes monitoring all transactions, collections and sales simple for the consumer as it smartly stores all financial records in one place. Inventory documentation is also kept up-to-date with the aid of this program.

  1. Intuit Quickbooks

It is designed to smartly manage invoices, as you can immediately create quotes and invoices. This had become effortless to track the receivables. The ability to track GST inside invoices, expenditures and purchase order is helpful as it is possible to generate the GST-03 Form easily. The receipts are then distributed electronically without any issues. The ease of making a recurring invoice would be helpful for the customer because they can repetitively save time on making the invoice.

  1. MYOB

This accounting software makes it easier for you to process tax-based transactions using convenient, built-in tools that can work through GST and other tax practices. Businesses with much GST-related operation would be able to file their returns with this program more quickly and on time. It is capable of making GST computations in a quick real-time interface so your accountant doesn’t have to struggle every time to add up percentages.

  1. QNE

QNE is known as the easy-to-use accounting software. It has strong features such as user audit trail availability and date sensitive report performance, which will help meet business requirements. It runs in the cloud and offers real-time service to the customer. QNE also provides forecast statistics, the status of cash flow and the break-even stage.

The resources also allow for the systematic execution of processes. For example, inventory management is made simple with the inventory software because it is easy to build invoices, documents such as stock balance, invoice management, and staff information can be managed well.

Million’s key feature is that it goes very well with Microsoft Excel which is used by many small businesses to produce and maintain reports. Million has an easy user interface similar to Excel, makes it an extremely popular program in the less structured business sector that is less dependent on administrative practices. The program is not flexible as the company grows bigger, but it supports multiple currency inputs and has functions to hold multiple business accounts, making it a relatively valuable tool in the hands of someone who wants to do small yet essential accounting work.

 

In my opinion, regardless of whether these accounting are range in top 5 or at the bottom. The most important facts is that it can integrate with the GST function. This is why you can see that the top 3 accounting software that listed above all have same similarities which emphasized on the GST.

 

Question:

Have you ever think about the return of the GST?  Please comments below.

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