In Singapore, where small businesses are not capable enough to hire full-time tax professionals, CPAs or bookkeepers, online accounting is the best option to go for. Online accounting is an accounting method that relies on web-based applications and does not require anything to be installed on your computer.
Small businesses in Singapore can make use of online, secure account to manage business reports, inventory, invoicing, pay roll, tax records, book keeping etc. There is a large number of online accounting software for businesses to use, but they need to look for certain features before choosing a reliable one. In this article, we are going to do a brief comparison of some of the widely used online accounting software.
Xero versus ZOHO Books
Both Xero and ZOHO Books provide a wide range of report selection. A user can select from the commonly used financial reports such as balance sheet, profit & loss statements, executive summaries and cash flows. Quick contacts report of Zoho Books provides it a competitive edge over Xero. Though, Xero provides this feature but not in a comfortable manner.
For Zoho Books, there are not any special requirements and it is all friendly with modern web browsers. This will not be wrong to say that ZOHO Books has an outstanding interoperability. Modern web browsers also support Xero, but for completely functional web interfaces it needs Adobe Flash. This is the limitation for the use of Xero.
QuickBooks versus ZOHO Books
When we talk about the success of online software; application user interface, feel and look are imperative. ZOHO Books is an intuitive and simple application. A user can quickly access all the features and the thing that keeps this application user-friendly is its well-integrated functionalities.
On the other hand QuickBooks provides a complex functionality and it also has a complex interface. Although, the user interface of QuickBooks is interconnected and well integrated, still users face great difficulty in navigating across this difficult application.
When it comes to technical capabilities and requirements ZOHO Books works well in all browsers; whereas same like Xero, QuickBooks needs Adobe Flash for full functionality.
In Singapore, the best option for small business owners is to go for ZOHO Books if they need a simple and user-friendly system for keeping track of their company’s finances. Using this feature, small business owners can get detailed tracking of expense, financial transactions and payments. Automatic banks feeds are one of the greatest features of ZOHO Books that can enable business owners to automatically fetch all the financial transactions from their bank accounts.
In Singapore, the first alliance partner of Zoho is Xcluesiv, that provides consultancy help to SMBs for integrating Zoho applications with their existing business applications.