WHY BUSINESS PEOPLE ALWAYS CHOOSE ACCOUNTING SOFTWARE

EZ Payroll is listed on Singapore CPF board and IRAS as a approved vendor for submission of CPF text file online and yearly auto – inclusion text file too for yearly IR8A of employees salaries and all allowance and deductions.

This usually comes in two types – desktop accounting software or online accounting software. Desktop packages come in the form of a CD or download that you install onto your computer. If your accounts are simple, a basic software package should be sufficient, although consider which features you will need in the future. Payroll and VAT functions may not be relevant now, but check to be sure that the package you buy can be updated with different elements as your business grows. Online accounting software is considered by many to offer more flexibility than desktop software. Accessing your accounting system via a web browser, your records and data are stored securely, which can combat any loss by theft of computer crashes, and can be accessed wherever you are or whenever you like.

Create invoices and customise the look and feel

Track expenses according to categories

Manage inventory, inward-outward stock movements and wastage

Perform bank reconciliation by importing bank transactions

Create purchase orders (PO) and record inventory purchases

Create and manage taxes

Record Journal Voucher  entries

Manage list of customers & vendors

View account payables & receivabless

View Balance Sheet, Profit & Loss statement and Trial Balance reports

Add additional team members

EZ Accounting had been proven to be more then just reliable. We have all the attributes that SMEs are looking for: Up-to-date, Credible and Competent.EZ Accounting Pte. Ltd, provides more then just accounting softwares. We are friends to SMEs, providing them with the answer to bigger, better business opportunities.

THINGS TO BE CONSIDER TO START UP ACCOUNTING SOFTWARE

Simple to use and user friendly interface allows anyone whom had not used payroll software before to kick start using it within 1 hour of on site training. Our payroll software has the capability to auto compute CPF for submission online using it’s .TXT file which cut down a lot of manually computation of payroll.

Leave management is also included in accounting  software which allows staff to apply leave either off line or online whereby they can submit E-leave or E-Claims online using our user friendly cloud system.

To find the right accounting software for your business, ask potential vendors the following questions:

Is your software built for small businesses?

Is your accounting software a good fit for my industry?

Do you offer customized solutions to fit my business's needs?

How many employees and clients can your software accommodate?

How can your software help me comply with GAAP, tax laws and financial regulations?

How is my data backed up? Can access be restored immediately during an outage?

What security measures do you have in place to keep both my business's and my customers' data secure?

What is the total cost? Are there any setup or cloud storage fees?

What types of tech support and customer service do you provide? (For instance, does the provider offer your preferred form of contact, such as phone or live chat?)

7 IMPORTANT FACTORS ABOUT MYOB ACCOUNTING SOFTWARE

some of the features accounting software should offer to help you save time and better manage your finances:

Basic accounting tasks

Most small businesses can make do with accounting software that offers basic functions like invoicing (both by email and snail mail), income and expense tracking, financial report generation, and client and vendor management.

Automation

Things like automatic billing, recurring payments, past-due notifications and other automated processes save you time because you will not have to manually do them yourself.

Quote and estimate creation

Use customized, premade templates to create quotes and estimates for clients; then automatically convert them into invoices.

Tax preparation

Make both your life and your accountant's life easier with accounting software that can help you with your taxes. Features include automatic tax calculations, multiple tax rates and tax reporting, and the ability to instantly email all necessary data and files to your accountant at the click of a button.

Multiuser access

 Most accounting software products give access to multiple users (e.g., you and your accountant), so you don't have to do everything on your own.

Payroll processing

Enter time sheets, calculate pay, print checks and pay your employees — without all the legwork.

Mobile access

 Use your accounting software anytime, anywhere on your mobile phone or tablet. This is particularly useful for business owners who are always on the go and are too busy to sit down and manage the books at a computer.

DID YOU NEED START UP ACCOUNTING SOFTWARE FOR YOUR BUSINESS

best accounting software for your business, the first step is to figure out the primary reasons why you need one in the first place. For some businesses, using spreadsheets, or even handwritten ledgers, will do. For most, however, the ease and efficiency of accounting software make it the better choice.

Here are some factors to consider:

You're just starting out. Using accounting software right from the start sets your business up for success down the line. It's far more beneficial to begin using accounting software from the first day than to implement one after months, or even years, of using spreadsheets or handwritten ledgers.

Your business is growing. If you plan to expand your business, or if your business is quickly growing, a manual accounting system becomes inefficient and complicated. If you use myob accounting software, it can save your growing business tons of time and money by automating processes and being highly scalable to your business' size.

You want immediate, on-demand access. Think accounting software is just about the numbers? On the contrary, this software gives you an easily accessible database of both financial and customer information. You can even include all types of details about clients and vendors, such as contact information, purchase histories and credit terms.

You want to streamline your operations. By performing tasks ranging from payroll to day-to-day transactions, accounting software can integrate all parts of your operations and automatically input data from other systems, such as your enterprise resource planning (ERP) system, point-of-sale (POS) system, customer relationship management (CRM) system and other third-party solutions. Accounting software can also link your bank accounts and credit cards to automatically track expenses and update your books.

Your current system is too complicated. Not all accounting systems are made the same. For small businesses, some of the mainstream accounting software systems is too complex and packed with unnecessary features. If the software you currently have is too complex, a solution made specifically for small businesses is a much better option.

You want to make sure you comply with all laws and regulations. Don't know anything about generally accepted accounting principles (GAAP), tax laws or other financial regulations? Many accounting software programs do the legwork for you and can guide you to ensure compliance. You can't get that with spreadsheets or by doing everything by hand.

- See more at: www.businessnewsdaily.com

ISSUES TO CONSIDER WHEN MAKING YOUR ACCOUNTING PACKAGE SELECTION

We offer a wide range of accounting software’s and inventory software’s across a complete spectrum of brands, priding ourselves as total solution providers. Meanwhile our extensive, well-trained and readily available team of engineers is waiting to help you. Furthermore, we are listed as fast track approval consultants for software package solutions under iSPRINT BY IDA Singapore.

The market place for accounting software packages is more complex than for typical office packages. You will probably require continuing support and maintenance to ensure that you have someone to call to solve problems if and when they occur.

You may want to work with your accountant to submit your business accounts. To make this process easier for both your business and the accountant, it is important that you can exchange accounts data electronically.

You may want to use some special stationery with your Myob Software accounting package – e.g. standard or specially printed invoices, statements, receipts or credit notes. You may need these in multi-part or laser printer forms. Laser printer stationery is designed for use with a laser printer. Some businesses still prefer to use an impact printer such as a dot-matrix printer for accounts. In this case multi-part forms can be used so that several copies are printed at the same time.

The number of different Myob Software accounting packages typically used by small businesses in Québec is fairly limited. You can easily obtain information about all these packages from the Internet.

An accountant could also advise you on the most suitable package for your business.

CHOOSING THE RIGHT ACCOUNTING PACKAGE

Onestopaccounting.com, started since 1999 with more than 10 years, a Singapore company Specialist in Accounting software Singapore, selling wide range of accounting software, inventory software, retail point of sales system, payroll software, mail management software, human resource management software, time attendance software; that empowers business. We carry brands such as Sage_Ubs Accounting / EZ Accounting( IRAS Accredited Software) / EZ Payroll (Compliant With IRAS Guideline) / MYOB Software / Quickbook and customised solutions software tailored to your company needs.

Accounting packages can be used for all the important financial transactions in your business and you will rely on it to give you critical information about the health of your business. In order to make the right choice, you need to consider a number of different issues.

To get the right package for your business, you need to define your business requirements and then match them to the available packages. A good way to do this is to decide on the overall requirements first, then consider the more detailed requirements within that framework. For more information, see the pages in this guide on assessing your business' overall needs for an accounting package and on assessing your detailed requirements for that package.

Your package must meet all the statutory (legal) requirements that apply to your business and must continue to do so in the future, by, for example, submitting annual accounts that meet defined accountancy standards. Some requirements apply equally to all businesses, but others are specific to particular businesses and the way they operate. For example, a business that deals mostly in cash will keep accounts in a different way to a business that does not. If you have been running your business with manual accounts then you will probably be familiar with these requirements, but if not, your accountant will be able to help.

You need to consider what help you will need to set up, install and maintain your accounting package. For example, if you need to send in your GST/QST return, but a problem occurs with your accounting package, you need to be able to solve the problem very quickly to avoid penalties for a late return. You need a person or support organisation that you can rely on to sort out this type of problem. Understanding and defining your support requirements is a major part of choosing the right package.

How to choose the Business Accounting software

The first step you need to take in choosing accounting software for your business is to undertake a good needs analysis, which will address both managerial and financial needs. It should be broad, exploring both obvious questions and ones that really make you think. Take your time with this important step, since the last thing you want is to have to repeat this process within the next two years. If you experience unexpected growth that forces an upgrade, terrific, but good planning at this stage can help you avoid having to change software too soon. Get some help before you buy anything.

What you need to know about your business

The first step you need to take before deciding on accounting software is to make sure that you are somewhat financially literate. "One of the mistakes businesses make when they buy accounting software is in believing that they don't need to know anything at all about financial accounting software .

There are several ways that an entrepreneur or small business executive can become proficient in understanding what data their business needs to keep (in order to make better business decisions) and what reports they need to generate (for the Internal Revenue Service and state tax authorities). You can read books. You can take classes. You can do research on the Internet. "You can't use any accounting software if it's like garbage in and garbage out," Pinson says. That's what the result is "if you don't understand what you're putting in."

Another consideration is the type of business you operate. Several different sectors have specialized modules or add-on packages because they need to keep specialized data. If you are a manufacturer, for instance, then you may need to have an understanding of inventory and handling of parts and labour. If you are a retailer, you may also need to have an understanding of your inventory through a point-of-sale program. A doctor's office needs specialized programs for billing insurance companies, although many may farm this function out to middleman and/or consultants.

Talk to your accountant and staff

If your business has an accountant -- either an outside consultant or an in-house accountant -- you would be wise to consult that expert before you take the plunge into accounting software. Your accountant may be able to recommend software that works with programs they have. In fact, Pinson says, some accountants may help you set up your accounting software so that it gathers the data that they need to help you file your taxes, as well. "They know what kind of business you have and what you need," Pinson says. "Most accountants work with a particular software. Frequently it's QuickBooks. They'll want you to use that same accounting software."

5 Good Reason To Choose Myob Software?

MYOB Payrollsoftware  gives you the flexibility and variety for you to manage multiple payroll frequencies and multiple rates of pay.

MYOB Payroll supports any combination of fortnightly and monthly pay based on calendar month periods with the flexibility of defining formulas for various payroll components.

MYOB Payroll tracks and manages your employee records, earnings and deductions.

In addition to year-to-date totals, MYOB Payroll keeps the payslip information for every payslip ever issued through the system.

1.Powerful Reporting

MYOB software is extremely flexible when it comes to generating reports. This allows you to receive specific information about your business quickly and easily. Aside from offering more than 60 regular reports, MYOB also allows you to customise any reports, to give you greater insight into your business, customers, stock, finances and more. Reports generated can also be ideal for predicting cash flow problems, or working out any potential impact on cash flow of raising or lowering your prices.  Data can then be easily transferred to Word or Excel if you need to use it for correspondence or if you prefer other formats.

2.Reduce Accounting Fees

Many business owners commonly end up sending most of your business book work to your accountant at the end of every financial year in order to prepare their taxes. Yet, if all your information was already entered into your MYOB system, your accountant will end up spending far less time putting together all your information. Your accountant can simply produce a report through MYOB to generate all the information required, which saves you time and money overall.

3.Centralised Information

MYOB lets you centralise all your business information within one convenient software program. Yet, it’s still flexible enough to make that information available to other MYOB products, as well as to programs such as Microsoft Excel, Word, and even Outlook. This effectively means you can use MYOB across several customer contact points or multiple office locations and still have access to centralised data.

4.Customisable Security

You may have multiple staff members accessing your MYOB software throughout each day, but you might have certain information you don’t want some of them to access. MYOB does allow you to customise your security levels for each individual user or even different user groups. Each person can create their own unique login and then the system can be modified to allow or restrict access to areas and information that is relevant to their individual job roles.

5.Grows with Your Business

MYOB software is able to grow with your business as it expands. Add more unique users to your system in minutes as you increase staff numbers. You can even upgrade some MYOB packages to include more comprehensive and more advanced software as your business needs it.

Source: statewideconsulting.com.au/

Visit us: www.ezaccounting.com.sg

Five Foremost Factors that Stood Out in Skills Future Training

1 Most individual courses value under $500

This isn’t certainly unexpected, due to the fact maximum of the publications take in only 2 or three days of complete-time training. Component-time training is regularly available too. For a few reason, if you’re in a hurry to empty your Skills Future account, you’re possibly capable of discovering one or guides that you could attend for free with the credits.

For instance, the “human beings leadership Program”, and run by Capella Academy is a 24-hour direction costing $294.00. but, you’ll also find publications like “develop Human aid policy Framework” with the aid of Human Capital (Singapore), which is simplest a sixteen-hour path but fees $615.00.

2 However, many WDA publications are a part of a larger WSQ framework

You’ll be receiving certificates for most WDA publications. But, a lot of them are just one module in a WSQ “framework”. There are WSQ frameworks for a selection of categories, consisting of service Excellence, Retail, and innovative Industries.

Inside each framework, there are several qualifications, inclusive of a sophisticated certificates or diploma program.

The WSQ professional degree in leadership and that management program, as an example, is targeted at department managers. It entails approximately 8 modules or about a complete of 220 – 260 training hours. The cost alone should be approximate $3,000. It’s quite the commitment, to mention the least. And it’s virtually going to set you back by using greater than what you’re getting in your Skills Future credit score subsequent yr.

But hi there, to procure a $500 discount.

3 Are you virtually mastering a talent?

One course, called “management for outcomes”, organized via the Singapore country wide Employers Federation, charges $195 for sixteen education hours. The goals of the route are as an alternative numerous, which includes “organizing performance control requirements and fulfillment standards” and “facts analysis in tracking performance”. However, we need to surprise, in sixteen hours, how a lot can one definitely research?

One ought to argue that, seeing that this specific route is centered at senior management, the skills aren’t exactly taught but reinforced. Furthermore, if done over an extended time period, there might be greater opportunity to exercise what had being taught.

However, in truth, most senior managers don’t have the time to do the path part-time. They generally tend to get an afternoon or off for education and then it’s back to the grind. The onus is probably on the man or woman to remember what they’ve been taught. Which brings me to my subsequent factor.

4 Could training providers take gain of Skills Future credit?

Throughout my quick stint in a bakery, I needed to first attend a simple meals handling course licensed through WSQ. It changed into grandly titled “follow meals and Beverage safety and Hygiene policies and tactics”.

The route took the entire day, even though we spent more time in the lecture theater than absolutely having hands-on practice. By way of the end of the day, I realized I had spent extra time education to sleep with my eyes open that genuinely mastering something food related. However, due to the fact I had paid the $a hundred and fifty route rate, I were given the certificates and became now certified to preserve my actual gaining knowledge of journey inside the bakery.

Because it seems, this equal path is conducted by means of numerous training classes. I just “lucked out” that I was given trainers who were possibly greater inquisitive about incomes my cash than in truly making sure I learned whatever. Should there be possibilities now for more schooling companies to inflate their route price, specifically since it doesn’t pop out of your pocket, however instead from your Skills Future credit score? Time will tell.

5 Just how frequently is Skills Future credit score topped-up?

We cited earlier that a “WSQ framework” may want to cost within the region of $3000. Right now, there’s no clear indication yet as to when the Skills Future credit is being topped up. We don’t understand how frequently and through how a great deal. Until such records are made regarded, it would be tough to decide on any framework.

Even if such information have become available, it may not be crowned up at a rate that might suit your selected mastering pace. in case you planned to finish the above-referred to expert degree path in 2 years, for example, however, did now not get hold of sufficient Skills Future credit to fully subsidize your mastering, you may unavoidably need to pay a part of the direction price yourself.

So how?! Can those new “competencies” in your “destiny” get you any real “credit score”?

It’ll begin you off in small steps, with little quick guides here and there. Get you a certificate of Attendance or two, and perhaps activate some interest in a new enterprise – it won’t but, be a sports changer on your profession. That’s going to need quite a few extra work and money, but howdy, any AngBao is better than no AngBao.

Source: blog.moneysmart.sg

Visit Us on: www.onestopaccounting.com

What’s So Excellent about Skills Future Credit?

What’s so excellent about Skills Future Credit?

So that you may additionally have already got heard that the price range 2015 announcements protected a few goodies for any and all Singaporeans itching to analyze a few new abilities or upgrade their current ones. Now before you rush out and sign up for a grasp’s degree or a few Ph.D. program from China, you may need to ensure you know the way a good deal became given.

We got $500 of capabilities destiny credits. Now the query is genuinely what you can do with this that’s truly going to be beneficial for your career – To get you an advertising, enhance or something apart from some time off to attend a course.

What’s talents future credit?

This is a quantity given to Singaporeans elderly 25 and above. The preliminary amount is $500, so one can take delivery of to approximately million Singaporeans inside the first zone of 2016. Even though details have no longer been given but, there will be further top-ups in the future at regular periods.

The credit can only be used for schooling and schooling in authorities-supported guides. Those include guides at polytechnics, universities and even institutes like LaSalle College of the arts. You can additionally use it to subsidize courses by way of the team of workers improvement Authority or WDA. , the human beings in the back of the team of workers capabilities qualifications program or WSQ. For a full list of publications, test out the Skills Future route directory that’s been installation.

They’re those who help with mid-profession shifts, like into enterprise management or human assets. Do you watch you’re capable of commit to a few 200 to three hundred hours of schooling that ends in a sophisticated certificates or degree? If so, then probably the Skills Future credit will make contributions a teeny weeny bit in subsidizing your schooling.

In any other case, if you use the Skills Future credit to just attend one or two workshops, all you’ll come back with is a pretty certificate acknowledging your attendance.

It’s definitely no longer going to get you that a whole lot towards a enhance, advertising or profession switch.

It’s the equivalent of supplying you with arcade tokens. There’s no cash cost, it’ll disappear quicker than you recognize, and no matter how lengthy you play, the great you can hope for is bragging rights.

Okay, so what publications am I able to use this credit to subsidize?

At present, not anything has been found out about exactly what courses at polytechnics, universities and different institutes of higher mastering are eligible for Skills Future credit score usage. We do recognize that everyone the WDA guides are eligible, all 8,841 of them!

They arrive in all shapes and sizes, from administration to veterinary science. There’s even a direction on staging a Play, for those of you who need to elevate your wayang standards within the office.

Visit Us on: www.onestopaccounting.com