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Accounting Software and Its Types

Accounting software is becoming an essential part for almost all business establishments in Singapore. With so many different accounting packages available in the market today, with so many great selections of software applications, the choices can be almost infinite. Some software packages are intended for large corporations while others are just enough for personal accounting purposes. That’s why it’s important to identify your company’s needs first before you look for the software to purchase.



The role and function of accounting software is very important in every company in Singapore. It is used to maintain account balances, record transactions, and prepare financial reports and statements. Also, it has different applications and modules that can be very helpful to Singapore businesses. An accounting package usually includes various integrated modules, such as spread sheet and word processing. Some of these are used for accounts receivable, general ledger, fixed assets, inventory, payroll, and accounts payable.

Furthermore, the software increases the financial information security. By limiting the number of users who can access the Rockbell accounting software singapore financial database, the viewing of financial records and files are controlled. Secured files guarantee that employees and managers are unable to influence any financial information of the company. Businesses can also prevent unauthorized release of information to external business investors. And most importantly, it accounting software increases staff productivity, improves data accuracy, and reduces errors.


Types of Singapore Accounting Software


This is an accounting software designed for personal or home used. The features of this package are built for handling household expenses and budgets. Example software of this type is Money Plus Deluxe, GnuCash, and Quicken 2009 Deluxe. These packages are equipped with helpful applications like net wealth monitor, charts, personal accounting spread sheet, budget planner, rapid file categorization, and many more. There are even some packages that can download bank account information directly from the Web for personal use.

Low-End Accounting Software

This software is commonly used by small Singapore businesses. Usually, software of this class in sot highly specified and can be used in any type of business. Main features of low-end software are merging accounts, handling payroll, and generating invoices. Best software of this kind is the Sage MAS 90 and 200 ERP, with modules that include customer management, e-commerce, and financial reporting.

Mid-Market Accounting Software

This software is capable of doing variety of functions essential to business accounting, and handles accounting in various currencies as well. Applications included in mid-market software perform general business accounting roles and often include integrated management information system. Navision, SYSPRO and SouthWare Excellence Series are just some of the good mid-market software.


High-End Accounting Software

Since high-end software is more complex and serves more accounting roles, undoubtedly, it’s more expensive than the first three software types. High-end software is designed for large business establishments with millions to billions of dollars in transactions. Singapore software of this type has highly sophisticated options and features to efficiently help the business on its every accounting aspect. Some examples of this type are Axapta, e-Business Suite, and Solomon.

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