Top 8 Cloud Accounting Features for Startups in Malaysia for 2024

We are persistently advocating for, small-businesses, startups, and large business alike, to adopt cloud accounting software.

But, if you still need a little nudging, the following features, of Xero will convince you. Say goodbye bye to Microsoft Excel, because after going through this list, you will contact us for bookkeeping, and accounting service in Malaysia.

8 Features Modern Business Can Do with Cloud Accounting

1. Online Payments

The internet made the world a small village regarding communication; online payments have the world a local market. The Xero App allows the business to accept payment through online payment services. Customers can visit your business, and pay quickly with through PayPal, Apple Pay and more.

2. Fixed Asset Tracking in Cloud Accounting Software

Tracking the annual depreciation of assets has never been this easy. You can add hundreds of items including, machinery, vehicles, office equipment, and track them using the cloud accounting software.

3. Multicurrency Accounting

If your business, deals with international, customers or suppliers the Xero Cloud App can help you; convert 160 foreign currencies into your local currency, keep track of exchange rates, and invoice customers using their local currency, made possible by automatic conversion.

4. Taxes

Automatic sales report, setting tax for sales or purchases, recording sale tax rates to customers, are all features you receive with the Xero Cloud App.

5. Online Quotes

Startups who are offering innovate technological features can create quotes and send them online to clients. It only takes a few breaths, and you send it using your contact list, and pricing information. The quotes are automated and only require the client to click one button to accept them. You can monitor approved quotes, and turn them into invoices.

6. Track Bestselling and Low-Performing Products

The cloud accounting software makes it easier to know profitable products and returns on each item. You are always up-to-date with the value of the remaining inventory, and you can predict the profits easily. This feature is useful to small-business and wholesalers.

7. Billing in Cloud Accounting Software

You can easily tract the bills the business is liable to pay each month. Startups, can then cost, and ask for payments at specific times. You can also know the amount involved and the remaining amount not invoiced.

8. Cloud Accounting Financial Reports

A yearly financial report detailing the annual performance is a standard requirement in any business. With the cloud accounting software, you don’t have to wait until the year is over. It’s straightforward and quick to generate it since all the information is available. The reports are likely to have fewer errors, introduced when regular consolidation of accounts is done in large organizations.

How CALTRiX Accounting Can Help

Learning the workings of the cloud accounting software can be intimidating for new users. For this reason, you require expert help, to facilitate the learning process or regular maintenance.

But, once you learn and use web accounting applications, the advantages are numerous. Better productivity, more security, time-saving, cost-saving amount others. We provide this accounting service in Malaysia for all business regardless of size.