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Top 5 Cloud Accounting Software

Top 5 Best 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.

1. Xero

online accounting software

Picture Source: Xero

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 – RM330 monthly
Multiple Users Unlimited
Bank Connection Connect your CIMB Bizchannel and HSBC to Xero, have automatic bank feeds. Coming soon Maybank and RHB.
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

QuickBooks-Online-Top-5-Cloud-Accounting-Software-in-Malaysia

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

3. Bukku

Bukku-Top-5-Cloud-Accounting-Software-in-Malaysia

Picture Source: Bukku

Bukku is a simple local-based software, tailoring its offerings to small business owners in Malaysia. They have powered over 25,000 companies in Malaysia. This 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

Financio-Top-5-Cloud-Accounting-Software-in-Malaysia

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

Biztory-Top-5-Cloud-Accounting-Software-in-Malaysia

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
Email 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 cloud accounting software for your business does not need to be a difficult process. Explore the software which piques your interest the most and simply take note of the features you’ll need in a software that may spark as a potential solution for your accounting needs. You can even do a free trial run with the desired software 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 software will suit you best, don’t hesitate to get in touch with us!

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author

Alfred Ang

Alfred has led the company in helping over 500 SMEs successfully transition to digital platforms. With expertise in cloud accounting software implementation and other tech stacks. Alfred empowers businesses to access real-time, accurate financial data for informed decision-making. As a Chartered Accountant (CGMA, ACMA, and MIA member), he is driven by the mission to streamline traditional accounting processes. Alfred’s accomplishments include winning the Xero Award for Medium Accounting Partner of the Year in 2024.

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