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HOW TO CHOOSE THE BEST ACCOUNTING SOFTWARE FOR YOUR BUSINESS

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 choosingan accounting software that is best for your business

1. It Is Easy To Be Used

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.

2. It Is Tax Compliant

Accounting has been made a bit more complex upon the implementation of Goods and Services Tax (GST) in Malaysia. According to the Royal Malaysian Customs, all GST registered businesses are only allowed to use accounting software that has been endorsed and certified by Customs as GST compliant such as SBS. Reason being, these GST compliant software are to assit and simplify the calculation of GST and accounting and all GST submission is to be made via the required reports such as GST03, GAF and TAP return file.Such GST compliant software plays a significant role in ensuring your claims and submission are accepted by Customs.

3. It Fulfils Your Personal Requirements

Every business has its specific requirementand 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 priveleges or you require a system that can provide you with a dashboard of your business performance for a quick overview that is accessible via multple devices such as computers, laptops, tablets or smartphones.

4. Get Your Software From Reliable Provider

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 useto use accounting software that is GST compliantand meets all of your requirements, look for SBS.