Top 5 accounting software in Singapore

One of the good things about the software industry is that there are generally healthy levels of competition within the various software types. This is good for consumers, whether they are individuals or companies because that competition helps to drive down prices, increase the number of features, and provide a wider range of choices. This is just as true in the field of accounting software. You can choose to go with something cloud-based or an alternative, which is fully capable offline. Various trial versions and pricing plans are offered, so it’s left up to the client to do the required research before choosing one. When it comes to accounting software, here are some of the best options available in Singapore.

1. Sage 50 (formerly Peachtree)

Sage 50 is offered as a strong small business accounting solution. One of the advantages that this account software offers is the ability to perform all its functions even when offline. This will be appreciated by professionals who need to be able to work while out and about, even when an internet connection may not be available. With Sage 50, you are not forced to be tethered to the internet, just so that you can properly invoice your clients, keep track of your existing inventory, or perform other urgent accounting-related tasks. At the same time, however, Sage 50 does offer cloud-based features, as well as the option to handle functions from a mobile app. So in a way, this particular software offers the best of both offline and online worlds.

2. Intuit Quickbooks Online

Unlike Sage 50, Quickbooks offers accounting software, which relies much more heavily on an internet connection in order to get your invoice financing, and other accounting-related work done. This may be an issue for more mobile professionals, but if you can reliably expect to be online most of the time, a cloud-based solution like Quickbooks may work well for you. One benefit of relying on the cloud is that Quickbooks makes collaboration easier. You can have several people working together from different places, and using different devices, to organize the company’s expenses, analyze the firm’s balance sheet, and much more.

3. GnuCash.org

One important part of the software industry is the open source movement, which offers free options for companies and professionals who would rather use something that is functional, while not emptying the firm’s coffers. GnuCash is an example of an open source accounting program that has seen much use and received praise. The focus is on functionality, so this software will allow for double entry accounting, scheduled transactions, receivables financing and tracking, balance sheet and other reports, as well as more advanced functions. This means that whether your needs are straightforward or more complex, this software will be able to handle those demands, at no cost to you.

4. Xero

Similar to Quickbooks, Xero is also primarily a cloud-based software program so in order to make full use of it; your devices must be connected to the internet. One advantage of this connectivity is that Xero can already interface with the relevant accounts in your bank or financial institution; so that there is no need to manually input the numbers yourself. If this kind of automation appeals to you, then Xero may be a good choice. In addition, this accounting software is available on mobile, which does make it easier to do work while on the go. One other thing to note is that Xero sets no limits on the number of users who can access the software, unlike some other cloud-based solutions. Organizations, which have many employees who need to be able to use the software will appreciate this particular benefit.

5. Microsoft Excel

Finally, there is the grandparent of office spreadsheet software, the venerable Microsoft Excel. This may already be a good option for a small business because many already make it a point to have Microsoft Office on hand. While Excel is not specifically focused merely on accounting uses, it is flexible enough to be able to handle many of these tasks. The interface may not be the prettiest, but it will work. Furthermore, Microsoft is making a strong push into mobile and the cloud. This means that a small business can also benefit from the mobile apps that are already made freely available by Microsoft.