HOW TO CHOOSE THE BEST ACCOUNTING SOFTWARE FOR YOUR BUSINESS

It is always challenging to manage a business as you have to make sure that every aspect of the business is properly managed and handled especially your finances. Choosing the best accounting software for your business is often one of the toughest tasks in the list to ensure it is easy to use, affordable and fits your requirement and business operation. In order to assist you to make the right decision, this article aims to highlight some aspects that you should consider while choosing an accounting software that is best for your business

Preparing the accounts can be real time-consuming and a hassle, as it involves preparing reports, tracing business documents (PO, Invoices, Receipts,etc) and most importantly having to understand and do the bookkeeping activity. This statement is particularly true for those with accounting knowledge. Now what about those with no accounting knowledge? The bookkeeping process presents itself as the ultimate challenge. It is therefore important to get an easy to use accounting software that does not come with its list of accounting jargon and procedures but yet user friendly and the entire bookkeeping process is automated.

Accounting has been made a bit more complex upon the implementation of Sales and Services Tax (SST) in Malaysia. According to the Royal Malaysian Customs, all SST registered businesses are only allowed to use accounting software that has been endorsed and certified by Customs as SST compliant such as SBS. Reason being, these SST compliant software are to assist and simplify the calculation of SST and accounting and all SST submission is to be made via the required reports such as SST02, GAF and TAP return file.Such SST compliant software plays a significant role in ensuring your claims and submission are accepted by Customs.

Every business has its specific requirement and unique business operation. Thus when it comes to choosing the right accounting software, you should always look for one that solves all of your woes. For instance, if you are always out of office, you would require an accounting software that is accessible from any location. Also, if you have several employees, you require an accounting software that allows each staff to access into the system with different logins and different system privileges or you require a system that can provide you with a dashboard of your business performance for a quick overview that is accessible via multiple devices such as computers, laptops, tablets or smartphones.

Accounting system and software keeps the sensitive information of your business, including some private and confidential data. Thus, it is important to know the accounting software as well as the accounting software provider in Malaysia. As a MSC status software development company with 8 years of experience in Malaysia, a lot of thought and control has been placed when developing SBS. Your data is stored safely and securely via a cloud server which is regulated by the local authorities and adhering to legislation such as the Personal Data Protection Act 2010 (PDPA).

In short, if you are running a business in Malaysia and in need of an easy to use to use accounting software that is SST compliant and meets all of your requirements, look for SBS.