What is an Accounting software

Accounting software was used to records a business transactions. A standard accounting software consists of functional modules such as accounts payable, accounts receivable, cash book, and general ledger. Most accounting software doesn’t comes with inventory control module, the user need to pay additional in order to use the accounting module.

Local brand vs International brand

The best accounting software how much it compatible a business operation, and do they have enough technical support provided to the end users. I personally prefer local brand as the software application was solely built for the local business environment. Business vary across different geographical region. It’s impossible to build one software  that is generally usable to all business environment. Local accounting software will never feel threatened by well known overseas software.

What are some popular brands of Accounting software in Malaysia?

There are many software companies create their own brands. Well known brands are QNE, AutoCount, SQL Account, etc. As at 28th Sep 2016, there are 183 vendors certified by the RMCD (Royal Malaysian Customs Department). Software names shown in the list below are certified GST compliance.

Application name Vendor
Autocount Accounting Auto Count Sdn. Bhd
SQL Account IRS Software Sdn Bhd
Sage 300cloud (AKA ACCPAC) Sage
Wavelet Management Suite Wavelet Solutions Sdn. Bhd.
QNE Optimum dan QNE Business Solutions QNE Software Sdn. Bhd.
SmartBiz SQL Smart-Acc Solutions Sdn Bhd
FLEXILITE ACCOUNTING SOFTWARE Flexsoft Technology Sdn Bhd
ACE SOFTWARE ACE Software Sdn Bhd
SAP Business One FAST TRACK SB0i SDN. BHD.

Source: RMCD

What makes a best accounting software

  1. Determine what kind of software’s features that your business operation need
    • Are you running a construction business that need progressive billing? Or you’re running a fashion retail business that need stock matrix to keep track of Sizes and colors?
    • Whether you’re running a restaurant business, hypermarket, or advertising agency. This is important for you to tell the software sales consultant. Because some software brand just can’t compatible with some business type
  2. Future technical support/ helpdesk
    • No software application is perfect, a few months later you might find some problem that need to be fine tuned.
    • It happened to some software re-seller, where the salesman didn’t know much about technnical support on a deeper level. What happened in the end? He’ll probably not answer your call. Or he’ll just reply that he didn’t know how to sove the technical problems, he’ll leave you to the principal software house. In most cases, the principal (software maker) are not responsible for answering the technical call, because the re-seller is the one who should provide such services all year long
  3. Do you need a big accounting software? or a small one for your business?
    • Big software such as SAP Business One and Oracle E-Business Suite were designed for more complicated business. Such as business that need to record subsidiary companies with different currencies unit. They usually charge a minimum price of MYR 140,000.00 and above.
    • Big software comes with more features. Unnecessary features brings complexity to users. The software consultant need to spend more time in setting up the software before you can use. Users in small business are usually not well-trained for using computer applications. Buying a big software for your business is not efficient.
    • Buying a small software for your business gives you shorter implementation in term of time. Implementation refers to installation, configuration, and training. You can learn how to use it in one day.

You should ask

  1. Is the software built for small businesses? e.g. the software doesn’t has too many unnecessary  features
  2. Is your software built for this specific industry? e.g. construction company, or fashion retail
  3. Can you show me how to use the software to submit GST filing?
  4. How much would you charge in future if I have a new staffs require re-training. Do you have a YouTube channel that regularly update the users for new features?
  5. For technical problems, do you provide remote support even during off-office hour?

Generic always can’t fulfill the specific one

No software is best for all industry, choosing an accounting software required quite some effort in going through the requirements analysis, demo, price comparison, etc. Choosing an accounting software is more than meet the eyes. Some software companies will publish their video tutorial on YouTube. If their software is available on the YouTube platform, it would be an added advantage. Good luck in selecting your accounting software.

Note: Remote support is a cost-effective technology that allows a technician to service your computer via the internet connection. This way, the technician doesn’t even have to be physically at where your computer is located. Popular software used for remote support are Logmein and TeamViewer.