Accounting Software: The Ultimate Guide (Updated 2018)

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July 5, 2018

Accounting Software: The Ultimate Guide (Updated 2018)

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Accounting Software: The Ultimate Guide (Updated 2018)

Accounting Software: The Ultimate Guide 2018

 

For many businesses, making the decision to purchase accounting software can be overwhelming. This is not uncommon given the intense competition of the accounting software industry. They offer many solutions and constantly improves themselves with similar affordability. More often than not, it can be terrifying for a company to subscribe a random accounting software when the return on investment isn’t immediately apparent.  

 

However, as technology has advanced over the past few years, sophisticated business technology has become affordable for even the smallest companies. Various types of accounting software have become more accessible and are designed to meet different requirements of companies. With so many options out there, how can you find the right choice of accounting software or solution that’s the best fit for your small, medium and large business?

 

Before moving on, we would like to give a brief introduction about our company – Ingenious. As the top-selling Sage UBS and AutoCount software reseller in Singapore, Ingenious is well-positioned to offer comprehensive business software service with competitive pricing. We exclusively provide free trial of Sage UBS and AutoCount for our customers so they can have a first-hand experience of these two in-demand accounting softwares before making their purchase. Get your free demo here today!

 

So, in this ultimate guide, we have put together seven solid choices for you right here along with their pros and cons, price and review. From there, you can then weigh your options and settle on the best software for you.

 

    1. Sage UBS
    2. AutoCount
    3. ABSS
    4. Quickbooks
    5. QnE
    6. SQL
    7. Million Accounting

 

Sage UBS Guide

 

 

Sage UBS is popular amongst Small Medium Enterprises (SMEs) with over 200,000 installations in Malaysia alone.

This accounting software prepares comprehensive reports of all the Account Receivables (AR), General Ledger (GL) and Account Payables (AP) at ease. All the financial details integrate easily with payroll system because it is a software which allows a full integration to the user. It is a revolution against the awfully time-consuming manual accounting by meeting all the business requirements with one go.

 

Pros of Sage UBS

 

  • Simple to use and customizable based on individual company requirements
  • Wizard Setup allows a quick start for users in the setup processes
  • Transaction Wizards provide step-by-step guides in entering transactions
  • Display of task flows allows easy reference and direct access to the required screen
  • Creditor Payment and Debtor Receipt screens allow users to overview all of their bank balances
  • Systematically and logically-organised command bars and drop down menus allow smooth operation.

Cons of Sage UBS

 

Price of Sage UBS

 

  • RM 800 for UBS One Accounting & Billing Software
  • RM 1650 for UBS Accounting & Billing Software (Single User)
  • RM 1900 for UBS Accounting & Billing Software – International Version (Single User)
  • RM 2850 for UBS Accounting & Billing Software (3 Users)
  • RM 3300 for UBS Accounting & Billing Software – International Version (3 Users)
  • RM 6000 for Sage 100 Evolution

Review of Sage UBS

 

  • Angelica Paredes’ Review of Sage UBS :-

It is very easy to use even for the non commerce knowing people. Helps me grow my organization. I have freedom from the tasks that need too much reporting and tasking.”

 

  • Harsh Umedaliya’s Review of Sage UBS :-

The usage is very easy and doesn’t take much time. Financial management, audit reports, billing and payroll management is a pain when one is not distantly related to commerce. I found it extremely useful for my digital media organization. Along with business growth it handled all my finances.”

 

AutoCount Guide

 

 

AutoCount accounting software is known as one of the best accounting software for today’s business requirements. It helps users to streamline their business operations via its easy-to-learn and integrated features. The system provides a strong and stable database for every type of business. Hence, users will be able to perform any type of account transactions no matter how complex they are. Users are allowed to manage their business data and analyse their business performance in order to make informed business decisions. With its advanced technology, AutoCount is a powerful accounting software suitable for users who seek mobile business solutions, particularly distributors, wholesalers and companies with high volumes of stock items.

 

Pros of AutoCount

 

  • Multi-location feature allows users to manage multiple stock locations
  • Advance financial reports are available
  • Multiple currencies allowed
  • Operable by users with no accounting background
  • Easy-to-navigate Windows interface
  • Microsoft SQL server allows users to have greater stability with high performance
  • Higher level of security and authority control protect company data from being accessed by unauthorised individuals
  • Multi-Dimensional Analysis tool allows users to analyse and evaluate business performances

 

Cons of AutoCount

 

  • Limited in-built reports
  • Low level of support
  • Non-responsive support team
  • No help files or user manuals if you need support.

 

Price of AutoCount

 

  • RM 2088 for AutoCount Accounting
  • RM 2288 for AutoCount Stock
  • RM 3788 for AutoCount Basic Edition
  • RM 5188 for AutoCount Pro Edition
  • RM 7688 for AutoCount Premium Edition
  • RM 10488 for AutoCount Ultimate Edition

 

Review of AutoCount

 

  • Michael’s Review of AutoCount :-

“AutoCount has matured very well since we started using it in 2003. Our company placed high importance on database integrity and program reliability. Hence, we are happy to note that AutoCount is using high quality and powerful software for its database engine and programming language. AutoCount is wonderful because although it has powerful and flexible features, it is also easy to configure and use.”

 

  • Siva’s Review of AutoCount :-

“We choose AutoCount Accounting over other accounting software as it is reliable, price is attractive and no need special machine to run the program. It does not require big resources and expensive machine, which makes it cost effective.”

 

ABSS Guide

 

 

ABSS Accounting is a simple yet powerful accounting software for Small Medium Enterprises (SMEs) which emphasise on business processes and work flows.Its award winning design assists users in the automation of every financial aspect of the business, thus making it easy for users to track accounting data. ABSS Accounting also deals with purchasing functions such as management of credit purchases and accounts payables. Besides, its business insights feature allows users to analyse key financial information such as profits and losses as well as cash flow movements. This enables users to make key decisions such as planning expenditure and predicting cash flow issues. ABSS Accounting also enables users to conduct project management. Users can track profitability of projects or cost centres, budgets for jobs, as well as respective job revenues, direct costs and expenses.

 

Pros of ABSS

 

  • Easy Setup Assistant offers smooth navigation between accounts, banking, sales and contacts
  • Simple to use – accounting jargon is avoided
  • Up-to-date reports are available at any time
  • Audit trail of transactional and system changes is available

 

Cons of ABSS

 

  • Prone to crashes
  • Standalone software – does not integrate with other applications
  • Double-entry accounting is inescapable
  • Limited inventory features

 

Price of ABSS

 

  • RM 319 for ABSS BusinessBasics v1.5
  • RM 399.01 for ABSS BusinessBasics v1.5 (International)
  • RM 1789 for ABSS Accounting v26
  • RM 1950 for ABSS Accounting v25 (International)
  • RM 2972 for ABSS Accounting v25 (Singapore version)
  • RM 2971 for ABSS Premier v21 Single User
  • RM 3463 for ABSS Premier v20 Single User (International)
  • RM 4905 for ABSS Premier v20 Single User (Singapore version)
  • RM 4008 for ABSS Premier v21 Multi User
  • RM 4672 for ABSS Premier v20 Multi User (International)
  • RM 9141 for ABSS Premier v20 Multi User (Singapore version)
  • RM 2971 for ABSS AccountEdge v13 Single User
  • RM 4027 for ABSS AccountEdge v13 Single User (International)
  • RM 4008 for ABSS AccountEdge v13 Multi User
  • RM 6284 for ABSS AccountEdge v13 Multi User (International)

 

Review of ABSS

 

Not available at the moment as ABSS has recently been rebranded from MYOB as of 1st January 2018 for Asia market.

 

Quickbooks Guide

 

 

QuickBooks is a user friendly, financial management software which is designed towards accounting for small businesses. It is a cloud based software, thus there is no need for any installation of software. It also has automatic updates which will not affect user data at all. In addition, its intelligent handling of invoices enables you to create quotes and invoices instantly. Due to its ability to track GST within invoices, expenses and purchase order, monitoring receivables has become effortless. The receipts are then forwarded through online without any difficulty. The convenience of creating a recurring invoice will be beneficial to the user as time is saved in creating the repetitive invoice.

 

Pros of Quickbooks

 

  • Easy to use
  • Easily accessible from anywhere via mobile devices  
  • Bank level security guaranteed to prevent security breaches
  • Automatic data backup system

 

Cons of Quickbooks

 

  • Limited ecosystem of add-on applications for Quickbooks
  • Incomprehensive inventory system that works on an average costing method
  • Paid additional access for more than five user logins
  • No financial consolidation across the organisation

 

Price of Quickbooks

 

  • RM 26.50/month for Quickbooks Simple Start (save 50% for 6 months)
  • RM 37.50/month for Quickbooks Essentials (save 50% for 6 months)
  • RM 49.00/month for Quickbooks Plus (save 50% for 6 months)

 

Review of Quickbooks

 

  • Katie Lynn’s Review of Quickbooks

“With Quickbooks, I feel like I’m on a roll. It’s been totally worth it!”

 

  • Ash Read’s Review of Quickbooks

“Before Quickbooks I dreaded the accounting side of my business. Now I can get everything done in minutes and spend time doing what I love.”

 

  • Amanda’s Review of Quickbooks

“We use Quickbooks app when we’re visiting customers… we can now send a quote or invoice on the spot.”

 

QnE Guide

 

 

QnE is an accounting software provider with over 10,000 users in Malaysia alone. It is considered one of the best accounting software in Malaysia due to its user-friendly system design and powerful analytical tools. All the strong features such as the availability of user audit trails and date sensitive report output can fulfill business requirements. It runs in the cloud and gives the user real-time service. It provides information on forecasts, cash flow status, and break-even point. The tools also allow processes to be carried out in a systematic manner. For instance, the inventory management is made easy with the inventory software as the invoices can be easily created, records such as stock balance, invoice management, and staff details can be kept well. Different report formats are also available for the same report type.

 

Pros of QnE

 

  • Fully integrated modules enable real-time processing
  • SQL client-server database allows faster processing of heavy data and higher data limit
  • Scheduled backup without having to logout from the system

 

Cons of QnE

N/A

 

Price of QnE

  • RM 2000 for QnE Starter Pack Version
  • ***Price quote for other products is available upon request

 

Review of QnE

N/A

 

SQL Guide

 

 

SQL Accounting software is widely used by small and large businesses across Malaysia and Singapore. It is suited towards small medium enterprises (SMEs) from various industries, including manufacturing and retail companies. It is unique as compared to other accounting software as it offers different designs of accounting templates. SQL makes it easy for the user to track all the purchases, collections and sales because it keeps all the financial records smartly in a single place. The documentation of inventories also stays up-to-date with the help of this software.

 

Pros of SQL

 

  • Real-time posting and seamless integration of modules
  • Open period solution allows for virtually unlimited storage of business data
  • Client-server architecture allows for cost-effective deployment, easy maintenance and increased system performance
  • Customizable interface enables simpler, efficient and more productive work

 

Cons of SQL

 

  • Complicated for people from non-accounting background.
  • Reports will vary if you do not put certain fields in the correct sequence.

 

Price of SQL

 

  • RM 2699 for SQL Basic (Account)
  • RM 2999 for SQL Standard (Account + Support)
  • RM 3799 for SQL Advanced (Account + Stock Control)
  • RM 4099 for SQL Pro (Account + Stock Control + Support)

 

Review of SQL

 

  • Customer’s Review of SQL:-

“SQL Account is easy to use and user friendly.”

 

Million Accounting Guide

 

 

Million Accounting system is popular amongst accounting firms, bookkeepers and freelance accountants in the Southeast Asia region for its simplicity and diverse functionality. It is used by many accountants as well as local Small Medium Enterprises (SMEs). The uncomplicated user interface with high reliability gives good support to the user’s business. The financial records can be transferred to MS Excel in a clean manner. Transactions from multiple companies become easily manageable by the use of this software. The multi-currency function enables the user to broaden his business at the comfort of maintaining the balance sheet with little troubles.

 

Pros of Million Accounting

 

  • Multi-company transactions and multi-currency function are available
  • Simplicity, diverse functionality and highly customisable design
  • Accessible through portable devices
  • Private cloud setup ensures data security

 

Cons of Million Accounting

N/A

 

Price of Million Accounting

 

  • RM 899 for Million Accounting (Accounting)
  • RM 1399 Million Accounting (Accounting & Invoicing)
  • RM 899 for Million Accounting (POS)
  • RM 599 for Million Accounting (Payroll)
  • RM 1199 for Million Accounting (Client’s Account)

 

Review of Million Accounting

N/A

 

Nevertheless, an accounting software plays an important role to monitor the financial health of a business. It helps businesses streamline, organize and automate finance management processes. As one of the six components in accounting information system, the utilization of accounting software is fundamental in maintaining both the efficiency and effectiveness of an organization. We certainly hope this blog is of great help to you in searching that accounting software that best fits for your organization.  

 

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