Top 5 Cloud Accounting Software in Malaysia
Cloud or online accounting software is an accounting solution and cloud accounting tool, cloud accounting system for most businesses. They are far more efficient, cost-effective, and is relatively easier to use as compared to traditional accounting ways.
With the online accounting software or cloud based accounting systems, there’s no need to worry about taxes, audits and keeping track of all your financial data as well as accounting data that are headed your way.
Many companies have started adopting the cloud solution as it is consistently updated, offers extensive data storage and it’s more accurate.
It’s one of the many reasons to consider cloud accounting software in Malaysia. In fact, anything cloud-based is preferably used by entrepreneurs and Small Medium Enterprises (SMEs).
But with so many accounting software options available, how do you know which is the best for you? Don’t panic.
To get you started, we’ve compiled and listed 5 of the top best cloud online accounting software & Invoicing System you can find in Malaysia.
Xero is one of the widely known cloud-based accounting software in the market which is also highly acquired and implemented by millions of businesses around the world. If you are a small business owner in one of the other; cafes, retail, and any organisation in the hospitality industry be ensured that you’ll be experiencing the best cloud accounting software & invoicing system from Xero!
Xero has affordable plans that are perfect for small businesses. They come with many robust features that would easily meet your requirements in searching for the perfect cloud accounting software for your business.
The software is fast, easy and convenient for you to run your accounts on the go. You can easily have access to your business accounts anytime, anywhere with any device on hand (e.g., laptop, desktop, mobile or tablet); download the Xero Mobile Software Application for easy phone access!
Interested in the features Xero has to offer? Click here to learn more about 9 powerful Xero features.
| Packages / Price Range | Starter, Standard, Premium RM145 – RM310 monthly |
| Multiple Users | Unlimited |
| Bank Connection | Connect your CIMB Bizchannel to Xero, have 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 |
| Support | Take a course or tutorial, or get support from Xero Central |
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2. QuickBooks Online
Picture Source: QuickBooks Online
QuickBooks Online is an easy-to-use cloud accounting software as it is known for its user-friendly built interface that users find uncomplicated. The simplicity of the cloud software is often deemed as a powerful software – which you know would be a great lifesaver in managing company finances and accounts. It is the go-to program if you wish to computerise your manual business account!
This software is in favour of small and mid-sized businesses because of its essential features to assist its users in their daily accounting tasks so if you’re searching for a small business accounting software, you’re in for a treat.
One of its highlighted features is in the customisable invoices and quotes where you can create or send professional invoices all within minutes. You can easily track your income and expenses as well as keep up with the Malaysian tax season!
Some of the essential features QuickBook offers:
| 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 profile and accounts |
| Recurring Invoice | Send recurring invoices without repetitively generating new ones |
| Security | Advanced encryption for data stored on the cloud |
| Support | Community chats, online accounting tools, webinars and articles |
Bukku is a simple local-based software, tailoring its offerings to small business owners in Malaysia. They have powered over 1,600 companies in Malaysia. This basic cloud accounting platform work and partners with the many accounting firms nationwide to offer affordable accounting services on the cloud. If you’re ever stuck in an accounting fiasco, Bukku is your solution at work.
Bukku has a unique tool that allows you to dump your messy receipts in a digital shoebox, where it takes place as a centralised portal to have your bookkeeper handle the organisation efficiently. Another one of the many benefits of Bukku is that you can automate payment reminders for coming or overdue invoices. Simply set the reminder and you can avoid having to confront your clients for late payments!
Here’s a glimpse of what Bukku has to offer:
| Packages / Price Range | Launch, Growth, Premium RM0 – RM99/month |
| Easy Access | Accessible with any device that is connected to the internet |
| 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 |
| Support | Highly experienced software team on standby |
4. Financio
Picture Source: Financio
Financio is to your rescue if you have little to zero accounting knowledge. You don’t have to be an accountant to know how to operate and understand this cloud accounting software as Financio is built and designed with SMEs in mind. Rest assured you’ll easily adapt from the usual paperwork and manual bookkeeping in the office to online documents and soft copies stored on the simple software. With their priority to bring business accounting automation to local micro and small businesses, Financio has all your needs to advance your previously offline accounting task and business account to the cloud.
One of the biggest advantages of using Financio is its multilingual interface. It operates in three languages – Chinese, Bahasa Melayu and English, which peaks efficiency to its finest! After all, efficiency is all that matters to Financio. If speed is what you’re looking for, Financio loads within 3 seconds with soft copy invoices being issued to your customers in 0.05 seconds. Save time and energy as well as storage (up to 20Gb file storage) all from the same location with Financio’s cloud accounting solution!
Below are some of the main features of Financio:
| 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 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 losing data – one copy of live backup & a second copy of 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 |
| Support | Hotline & Live Chat |
5. Biztory
Picture Source: Biztory
Biztory is the digital accountant you’ll never want to fire. Widely recognised by accountants, Biztory is one of the leading cloud accounting software & invoicing system for small businesses in Malaysia. They are trusted and used by more than 6,000 SMEs and individuals with no accounting experience. The various accounting features and functions that are complemented by their simple user-interface would fully transform your current accounting practices and management.
Biztory has a feature that allows users to convert quotations into invoices with just a simple click. Save your time from re-typing the same content, and you can immediately send the invoices through email or WhatsApp! As beneficial as it sounds, this e-invoicing is fairly convenient as it is easily integrated into your customer’s accounts payable system. You’ll find your heavy load of work complete in no time.
The accounting features you’ll need in managing your business:
| 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 |
| Support | Ticket & Live Chat |
Choosing the right for your does not need to be a difficult process. Explore the which piques your interest the most and simply take note of the features you’ll need in a that may spark as a potential solution for your needs. You can even do a free trial run with the desired before you commit fully. We hope our list of suggestions will help you in making the right decision. If you need more advice on which will suit you best, don’t hesitate to get in touch with us!
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