Top 6 Best Cloud Accounting Software in Malaysia
In today’s digital age, small business are experiencing a significant change in how they manage their finances. Traditional accounting software or accounting system are rapidly being replaced by cloud based solutions, offering unmatched accessibility, flexibility, and efficiency. Malaysia, with its diverse business landscape, stands out in this shift, presenting a dynamic range of cloud accounting software tailored to cater to various business needs, from startups to enterprises.
In this comprehensive comparison, we explore the top 6 cloud accounting software solutions available in Malaysia. From user-friendly interfaces to robust features and seamless integrations, these platforms are reshaping how Malaysian businesses handle their financial tasks and financial data. Whether you’re a small business owner seeking simplicity or a corporate entity requiring advanced functionalities, our guide aims to provide you with the necessary insights to make informed decisions.
Each cloud accounting software or cloud accounting solutions offers its own unique features, pricing structures, and user experiences. Through careful examination and analysis, we’ll delve into the strengths and weaknesses of each platform, empowering you to find the perfect fit for your business requirements. From simplifying invoicing and expense tracking to ensuring tax compliance and facilitating financial reporting, these cloud accounting software options are poised to enhance your financial management practices significantly.
Join us as we navigate through Malaysia’s top cloud accounting software solutions, empowering you to embrace the future of finance and drive your business towards success. Whether you’re searching for the best accounting software, cloud based accounting software, or online accounting software, our comprehensive guide will streamline your accounting process and improve your financial reporting capabilities.
Table of Content
Xero
Xero accounting software offers affordable plans and intuitive features tailored for small businesses, making it the go-to cloud accounting solutions for industries like cafes, retail, and hospitality. With easy access from any device and a user-friendly interface, Xero streamlines invoicing, expense tracking, and more, empowering small business owners to manage their finances efficiently on the go.
Xero Dashboard
| Packages / Price Range |
Starter, Standard, Premium RM145 – RM310 monthly |
| Multiple Users | Unlimited |
| Bank Connection | CIMB & HSBC Go, automatic bank feeds |
| Analytics | Detailed financial reporting insights |
| Multi-currencies accounting | Instant currency conversion with up-to-date currencies over 160 countries |
| Security | All data on Xero is securely and stored safe in an online server with SSL Encryption |
| Inventory Management | Track items, view reports, and add orders |
| App Integration | Integrates with more than 800 apps (E.g. CRM, inventory, invoicing, payroll software and many more) |
| Customisable | Quotes & invoices templates, tax rates and dashboard |
| Customer Support | Take a course or tutorial, or get support from Xero Central |
| Other Features | Xero Project, Xero Inventory Management, Xero Payroll |
Bukku
Bukku caters specifically to Malaysian small business owners, serving over 1,600 companies with its local-based software. Partnering with accounting firm nationwide, Bukku offers affordable cloud accounting services, ensuring your financial tasks are seamlessly managed.
With Bukku’s unique digital shoebox feature, organizing messy receipts becomes a breeze, while automated payment reminders help you stay on top of invoices without the hassle. Say goodbye to accounting headaches with Bukku by your side.
Bukku Dashboard
|
Packages / Price Range |
Launch, Growth, Premium RM0 – RM99/month |
| Multiple Users | 1 User / 2 Users / Unlimited |
| Storage | 100MB / 5GB / 20 GB |
| Emails | 100 emails / 1,000 emails / 10,000 emails |
| Multiple Currencies | Bill your foreign customers in their desired currencies |
| Cash Flow | Monitor and access real-time to trends and forecasts |
| Tax System | Malaysia SST: SST-02, sales & service tax codes, etc. |
| Interest Payments | Automate late fees calculation for overdue payments |
| Backup | Automated backups daily |
| Security | Secure banking level security of 256-bit SSL connections |
| Customer Support | Highly experienced software team on standby |
Intuit QuickBooks Online
Known for its user-friendly interface, QuickBooks Online (Intuit Quickbooks) makes cloud accounting effortless for users, serving as a powerful tool for managing company finances with ease. Ideal for small and mid-sized businesses, its essential features streamline daily accounting tasks, making it the perfect choice for those looking to digitize their manual business accounts.
With customizable invoices and quotes, QuickBooks Online empowers users to create and send professional documents in minutes, while also providing seamless income and expense tracking to navigate Malaysian tax requirements effortlessly. Experience the convenience and efficiency of QuickBooks Online for your small business accounting needs.
Quickbooks Dashboard
|
Packages / Price Range |
Simple, Essentials, Plus / RM63.60 – RM120.84 |
| Easy Access | Anytime, anywhere on the cloud |
| Multiple Users | From 1 to 5 users |
| Bank Connection | Synchronize banking data for viewing bank statements easily, and automated online banking |
| Customisable | Invoices, quotes, sales receipts, and dashboard |
| Software Compatibility | Smartphone, Windows & Mac compatible |
| Multi-currencies Accounting | Assign specific currency type to profiles and accounts |
| Recurring Invoice | Send recurring invoices without repetitively generating new ones |
| Security | Advanced encryption for data stored on the cloud |
| Customer Support | Community chats, online accounting tools, webinars and articles |
Financio
Designed with SMEs in mind, Financio offers a user-friendly interface that requires little to no accounting knowledge to operate effectively. Transition seamlessly from traditional paperwork to online documents with this intuitive cloud accounting software, tailored to meet the needs of local micro and small businesses.
With a multilingual interface supporting Chinese, Bahasa Melayu, and English, Financio enhances efficiency for users across Malaysia. Experience unparalleled speed with Financio’s quick load times and instant issuance of soft copy invoices, saving time, energy, and storage space with its comprehensive cloud accounting solutions. Upgrade your accounting tasks with Financio and unlock new levels of efficiency for your business.
Financio Dashboard
|
Packages / Price Range |
Essentials / Premier RM45 monthly / RM75 monthly |
| Quotes & Invoices | 20 monthly / Unlimited |
| Purchase Bills | 5 monthly / Unlimited |
| Multiple Users | Unlimited |
| Currency | Single Currency / Unlimited |
| Bank Integration | Automatically import bank statements and issue payments to your suppliers directly with RHB bank |
| Software Compatibility | Access the cloud-based accounting software from any PC, Mac, Android or IOS or use the CONNECT mobile app |
| Multi-currencies Accounting | Has support and is multi-currency ready |
| Live Backup | No risk of losing data – one copy of the live backup & a second copy of the daily backup |
| App Integration | Connect and automate with apps like RHB bank, Lazada etc. |
| Malaysia Tax Ready | Issue all required tax files with no 3rd party plug-in |
| Recurring Invoice | Automate your recurring invoice every week, month or year |
| Customer Support | Hotline & Live Chat |
Biztory
Embraced by accountants and small businesses alike, Biztory stands out as a leading cloud accounting software and invoicing system in Malaysia. With over 6,000 SMEs and individuals relying on its intuitive platform, Biztory simplifies accounting tasks for users of all experience levels.
Experience seamless invoicing with Biztory’s feature that effortlessly converts quotations into invoices with a single click. Say goodbye to repetitive typing and hello to efficient invoicing, with the flexibility to send invoices via email or WhatsApp. Streamline your workload and integrate seamlessly with your customers’ accounts payable system with Biztory’s convenient e-invoicing feature. Trust Biztory to revolutionize your accounting practices and management, making your financial tasks a breeze.
Biztory Dashboard
|
Packages / Price Range |
Basic / Growth / Pro RM390 yearly / RM1,290 yearly / RM2,490 yearly |
| User | 2 / 10 / 30 |
| Storage | 2GB / 10GB / 30GB |
| 50 / 500 / 5000 | |
| Easy Access | Mobile accessibility and mobile application |
| Financial Reports | Advanced reporting only for plan 'Pro' |
| Recurring Invoice | Create, schedule, and send recurring invoices to your buyers |
| Customisable | Invoice, payment terms, dashboard |
| Manage | Fund transfers, purchase and expense reports, inventory |
| Currency | Multi-currency for plan 'Growth' & above |
| Tax system | GST & SST compliant |
| Backup | Daily auto backup |
| Security | 128-bit SSL data encryption |
| Customer Support | Ticket & Live Chat |
Autocount
With over 25 years of software development under its belt, AutoCount excels in providing top-notch accounting software and business applications to small and mid-sized businesses. Widely acclaimed in Malaysia and neighbouring countries, AutoCount Accounting, AutoCount Point of Sale, and AutoCount Payroll are the preferred choices for SMEs.
Backed by a network of 300 authorized dealers, AutoCount serves over 200,000 businesses and 600,000 users across various industries. Its customizable document templates and automated recurring transaction scheduling streamline daily operations, boosting productivity and efficiency for businesses.
Autocount Dashboard
|
Packages / Price Range |
Lite / Basic / Plus / Pro RM70 per month / RM100 per month / RM140 per month / RM180 per month |
| User |
1 user / 2 users / 3 users / 3 users All with 1 accountant access Addon user at RM10 per month (Lite & Basic) RM20 per month (Plus & Pro) |
| Financial Reports |
Monthly sales analysis, purchase analysis (Basic) Profit & Loss (Plus & above) |
| Customisable | Financial report layout (For plan 'Pro' only) |
| Currency | Multi-currency for 'Plus' plan & above |
| Tax system | SST module for 'Basic' plan & above |
| Support | Ticket, Live Chat & Phone support (Chargeable) |
| Bank Connection | Maybank, UOB, Hong Leong Bank |
| Other Software | AutoCount CloudPayroll, POS, OneSales |
Conclusion
Choosing the best online accounting software for your business involves careful consideration of your business needs, research, feature evaluation, cost analysis, and feedback from your team. By following these steps, you can select a cloud accounting software that enhances your financial management, supports your growth, and aligns with your business goals in Malaysia.
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