Review of the Best Accounting Software in the Philippines

What makes the best accounting software?

Choosing the best accounting software that creates business solutions and yet is affordable and easy to use is the key to a successful business enterprise. The best Philippine Accounting Software is easy to understand and apply for a small business accounting system that delivers “automated entries, invoicing, bill payments, expenses reports, financial reports, and reconciliations, not to mention performing advanced tasks, built-in financial reports and data syncing with the point of sale systems and bank accounts.” It makes business transactions convenient and time- and cost-saving. An accounting system software provides:

  • reporting and analytics that are easy for owners, managers or investors to understand in coming up with best options in making business decisions or in forecasting business directions
  • general accounting feature that involves accounts receivable, accounts payable, invoicing, billing, general ledger and purchasing and such other related feature integrated in the accounting software
  • payroll and employees feature that manages multiple pay levels or skill sets including calculating for payroll tax, automatic deposits, and tracking features for accounts and hours worked
  • inventory and services feature that provides physical inventory services billed by time or job, re-order points, stock locations, barcodes and such other modules that require proper management
  • automated and integration features that provide scheduled tasks that are simple and automatic for the convenience of the user

Review of the Best Accounting Software in the Philippines

QuickBooks

SMEs in the Philippines appreciate the features of the Quickbooks as accounting system software for the following reasons:

  • it is accessible online and does not require installation. One simply needs to log into QuickBooks through the web browser. QuickBooks mobile app is also created for the user’s convenience
  • the user can collaborate remotely using his or her data at the same time keep data updated in real-time
  • it does not require back-ups as it has bank-level security feature
  • it does not require so much paper to generate report because its feature allows taking of picture of receipts and mobile app to attach them to transactions in QuickBooks
  • it runs automatically hence reduces stress on the part of the user
  • it has the following applications: balance sheet template, profit & loss statement, income statement template, track accounts payable, manage cash flow, chart of accounts and accounts receivable

QNE

QNE Accounting Software claims to be the most user-friendly accounting system in Malaysia that meets the business requirement because of its powerful features:

  • it is a real-time-proven software with SQL Client/Server database
  • it can run the accounting software in Cloud given its latest cloud computing technology in Malaysia
  • it provides accounting solutions and SQL windows accounting software taking into consideration International Accounting Laws and Practices
  • it is designed to meet different business needs
  • it is an accounting tool with analytic features such as running cashflow status, forecast, profit estimates, stock break-even point features hence it assists the growth of every business

Oojeema

Its accessibility makes online SaaS-based accounting software available for companies to better manage and understand their accounting system. It has the following features:

  • dashboard that provides quick picture of financial trends
  • cloud base that allows users to work on transactions or in sync with teams with automatic back-up/security features
  • tracking system that systematically provides real-time reports of all business transactions
  • aging reporting system that tracks downs invoices that fall due for payment
  • inventory tracking system that facilitates invoicing process
  • auto banking reconciliation of bank balances
  • generation of appropriate BIR forms needed for the business
  • made by Filipino accountants specially for Filipino users

Choosing the best Accounting Software that suits you

By comparing all three accounting system software, they all seem to provide similar features that are important to consider for any SMEs. They all provide convenience and user-friendly features that are appropriate to understand and generate accounting reports; they also provide a feature that secures accounts; users can access the system anytime and can generate real-time reports. It is safe to assume that they are fit for business transactions and reportorial requirements of non-accountants. Choosing the appropriate best Accounting Software for SMEs may depend on users and their purposes for using it. All three tools discussed above serve their purposes and are accessible and user-friendly. They must not be too complicated to understand and can provide a real-time, secure, and accurate report that is retrievable at any point in time. They must also serve the purpose of submitting accurate reports for BIR compliance and other government reportorial requirements. Through the reports generated by the software, the user can come up with a clear picture of the finances of their Philippine businesses whose managers, entrepreneurs or owners are still starting up or are involved in micro and small businesses. By using user-friendly accounting software they can focus on quick set up to come up with informed business decisions.

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Oojeema is Philippines’ FIRST online accounting software designed to simplify your accounting processes.