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Itās not easy for businesses to keep track of all their financial records and transactions. When done manually, there is always a risk of making mistakes such as calculation errors and forgetting to update the records. This is why more and more businesses in Singapore are opting to use invoicing software that can help them keep track of their finances.
Benefits of Using an Invoicing Software
Apart from reducing calculation errors and making it easier to track expenses, such software also saves time for business owners like you who have a never-ending to-do list.
For software that focuses on invoicing, you can easily get up-to-date reports on customer payments including which customers owe you and the amount owed. This will also give you peace of mind knowing that every aspect of your business finance is being tracked and that you can spot any issues or discrepancies early before they balloon into bigger problems. Check out our list below for the top 5 invoicing software in Singapore to choose from.
Top 5 Invoicing Softwares in Singapore
1. Xero
Xero is a cloud-based software program meaning that you need to be online to make full use of its functions. The benefit of this is that you can have easy access to your finances anytime, from anywhere in the world as long as you have a good Internet connection. It is also available on mobile making it a good option if you value convenience.
Xero can also integrate easily with your bank account so that all your financial transactions will be automatically reflected without needing any manual input. A great thing to note is that Xero has no limit on the number of users who can access the software unlike other similar cloud-based solutions on the market.
2. QuickBooks
Similar to Xero, QuickBooks is also a cloud-based software which relies on you having a stable Internet connection but this also makes it easier for collaboration in which several people can work together on different devices to manage your companyās finances. However, QuickBooks does have additional charges for more than 2 users in one account.
The benefit of using QuickBooks as invoicing software is that it provides invoicing templates to let you create custom, professional invoices, sales receipts and estimates. All of this can be created within minutes so that you can focus on other pressing business matters after youāre done.
3. Sage 50
Sage 50, formerly known as Peachtree, is a popular accounting software that relies on automation software to help your business save time and improve efficiency by reducing manual admin work. The software makes tedious processes a breeze such as creating professional reports, processing local taxes and international payments and keeping your business compliant with the latest legislation.
It is also a cloud-based software so you can be sure that your accounts can be easily accessed while you are on the go.
4. Microsoft Excel
Microsoft Excel needs no introduction and it is already a good option for businesses who have access to Microsoft Office. While Excel is not focused specifically for accounting, it is flexible enough to be able to handle the tasks and simple enough to use.
The Microsoft app is also available on the app store for both Android and iOS so you and your colleagues can easily access your accounts from your mobile phones.
5. GnuCash
GnuCash is an accounting software that offers basic accounting functions and is completely free, making it a decent option for startups and businesses on a limited budget.
However, the price you have to pay for using this option is that it is not as user-friendly as the other paid options but the good news is that there are a lot of guides online to help you through the process. For a free software, GnuCash is pretty versatile and you can even customise your invoices to your liking.
When it comes to such software, itās good to know that there is a wide range for you to choose from with most of them being pretty affordable. Managing your finances is a pretty big responsibility to ensure that your business runs smoothly so make sure you do your research before choosing the right accounting software. Most of them also offer free trials so you can try out a few before deciding on the best one.
Summary of the Top 5 Invoicing Software in Singapore
When it comes to such software, itās good to know that there is a wide range for you to choose from with most of them being pretty affordable. Managing your finances is a pretty big responsibility to ensure that your business runs smoothly so make sure you do your research before choosing the right accounting software. Most of them also offer free trials so you can try out a few before deciding on the best one.
