COMPARISON OF MOIBOO SOFTWARE AND SAGE 50 SOFTWARE
The object of this post is to understand the advantages of Moiboo software over Sage 50 Software.
- What is an Accounting software?
- What are the advantages of using an Accounting software?
- Comparison of Moiboo and Sage 50 software.
- What are the features required in the Accounting software?
- What are the commonly used Accounting softwares in Singapore?
Accounting software is a financial software that records and processes the accounting transactions of the business and provide the reports such as trial balance, profit and loss statement which provide necessary decision making information to the management. Accounting software records and processes accounting transactions such as accounts payable, accounts receivable, general ledger, payroll, and trial balance Business owners need to have a way to keep track of money being spent as well as the money coming in. Lack of proper recording and keeping up with accounting can hurt a business as business owners may fall short of money when it is time to pay employees or to perform any other business function. Bookkeeping is necessary for financial analysis to monitor expenses and for business success. Accounting is not just about managing credits and debits. It comes into play in almost every day business decisions than you realize.
Advantages of using Accounting software
- 1. With the usage of the Accounting software the businesses can save a lot of time in the admin work.
- The accounting software helps in making accurate calculations and reduces the manual errors.
- The information from the Accounting software is very reliable
- The Accounting software provides creativity in Analysis.
- Accounting software provides reports that can help in decision making
- The accounting staff work is more organised with the use of accounting software.
- Accounting software allows monitoring your accounts receivable that shows behaviours in your customer base.
- It gives understanding of your business financial position and helps in finding the problem areas.
- It ensures effective cash flow management.
- Accounting software helps you evaluate the performance of your small business to know whether the business is stagnant, improving or depreciating.
- Accounting software for small business is helping business owners to perform all basic as well as advanced accounting tasks successfully.
- It also allows owners to determine business profitability.
- Tech savvy business owners prefer to use accounting software as digital bookkeeping gives quick calculations as compared to manual calculations.
- Most of the accounting software ensures that you are meeting tax requirements with their GST ready features.
MOIBOO ACCOUNTING SOFTWARE
Moiboo accounting software is an ideal software for any business. It helps to automate your business and connect and control all the branches from anywhere. It helps the accountant to access reports remotely from anywhere.
All functions relating to Accounts such as Managing Accounting Ledgers, Bank & Cash transactions, Purchase and Sales estimates, Warehouse Management, Expense recording & grouping, Journal entries, Financial reports is embedded in the software
The software is tailor made as per the Government norms and calculates the relevant taxes for every bill created.all that is required is to add the tax percentage and the software will calculate the tax automatically.Multiple tax scheme can be applied on multiple products on a single purchase.
Quotations can be created and in turn sales order and invoices can be generated from the Quotations.Receipts can be created from Invoices. This helps the accountant to keep a track of the payments received and the pending payments.
Purchase orders can be created and converted to bills and payments. Reminders can be set for payments. This enables the accountants to keep a track of pending payments.
Receive Job orders or Sales Orders and convert them into Invoices once ready
Manage your Production process, Purchase approvals and Raw material Conversions and extract Finished Goods Reports
Godown Management, Raw materials, Packing Materials, Work-in-Progress, Finished Goods, Miscellaneous Stock, Stock-point wise management
Point of Sale
Touch and Keyboard Billing counters. Works even when the Internet connection is cut. Seperate Cash and delivery counters.
Lots and Barcode Management
Create Lots/ Batches, Auto-generate codes and print barcode labels. Read them automatically using a barcode scanner
Cost Management, Order Management
Income & Expense Grouping, Accounting Ledgers, Tax Heading Creations & Operations, Bank & Cash Creation & Operations,AssetLiability Creation & Operations,Income & Expense Recording, Journal Entries & Contra Transactions,etc
Create Invoices with your own branding or choose from over 20 templates (includes contractor Invoices). Generate Invoices or convert quotes to Invoices. Automatically convert invoices raised in foreign currency to INR. Raise recurring Invoices. Email, print or extract Invoices to pdf. Get reminded every time an Invoice is due. Send reminder sms or emails.
Create multiple Branch and give an option to manage each of them individually business by the Owner.
Purchase Orders/Estimates, Purchase Bills, Purchase Return, Vendor Outstanding Management.
Quotes,Multi Product Operation, Sales Invoice, Sales Return, Recurring Invoices on one attempt, Customer Balance
Multi-User operation with restriction menus, Auto Back up, Accounting Period Auto change, Any Location operation, Easy to handle, No hard accounting process and buttons, Auto conversion to accounting formats
Create multiple Companies and give an option to manage each of them individually from the comfort of your smart phone
Full Financial Report availability, Read process by Auditor, Tax Reports, VAT Report with e-filing options,PF & ESI Reports, Tax Consulting Modules
Access across tabs, iPads, iPhones and android phones, pick photos of expense vouchers and attach to expenses, raise invoices, check cash and bank balances, daily profitability and other key reports on phone.
Leads from all sources, Leads extractions via mail server, Converting leads to appointments, Quotes, Converting quotes to Invoices, Email-SMS update, Delivery status update, Work pending strategy
Operations and Process
Product & Service Grouping, Customised Invoice with Logo, Small, Medium or Large scale operations, Retail or Whole sale enabled, Product service and maintenance, Godown & Showroom wise operations etc..
Assign points for every sale and redeem them whilst billing next time
E-stores, Google docs, Google calendar, Project management tools, SMS gateways, Payment Gateways and many others.
Easily import excel files taken from Tally and import it into our Software for various time periods and manage accounts with ease
BENEFITS OF USING MOIBOO
- The main advantage of Reach is the cloud App. This resolves the challenge of getting stuck to your desktops. This helps in usage of ERP on mobile devices from anywhere and anytime.
- Another feature is the push notification. Every time a bill or invoice is raised there will be a due date. The push notification feature sends notifications to your mobile with the main points
- The third advantageous feature is the Mobile App. It is easy to install and can be accessed from anywhere.
- Makes book keeping easy
- Automatically raises purchase indents, raise purchase order and intimate store keeper about the consignment.
- Helps in saving time and reduces manual work.
SAGE ACCOUNTING SOFTWARE
Sage 300 ERP (formerly Sage ERP Accpac) is an enterprise resource planning (ERP) software system that serves small and medium-size businesses in professional services, financial services, public sector, and other markets such as distribution and wholesale. It lets you make smarter, more confident business decisions faster than ever before with integrated business intelligence and reporting.
- Accounting Software
- Accounts Receivable Software
- Billing and invoicing software
- Financial reporting software
- General Ledger software
- Small Business Accounting software
BENEFITS OF SAGE ACCOUNTING SYSTEM
- It has a menu base approach so the clients can pick and choose according to their needs. The prices for the various modules is reasonable
- Reporting tool help us to understand day by day how is our company working. With business intelligence we can explain to our principals how their investment in working
- Computer friendly and itself explanatory system
- Ease of use, lots of good features, simple reporting works very well
- It automates manual work of processing purchase orders and eliminates physical postage of paper documents
- Strong Data entry features – Sales order, ICT, AR, AP
- Powerful, lots of built in reports and forms, relatively easy to use
- Can export to Excel easily.
- The pricing structure is very interesting and attractive
DISADVANTAGES OF SAGE ACCOUNTING SYSTEM
- Installing this software is challenging.
- Limited in format, not a lot of freedom to customize
- The software had difficulty uploading and updating and the App had only a handful functions
- It lacks timesaving automation offered by competitors
- It caters to the needs of small or medium sized business
- Extra charges need to be paid for the support service
- Poor customer service
- Upgrading is done at additional cost
- Not compatible with Mac, I pad or IPhone
- It has too many requirements to install
- Difficult to import data
- Does not track stock
COMPARISON OF SAGE 50 AND MOIBOO SOFTWARE
PSG & IRAS
The commonly used Accounting softwares in Singapore are
- Million Accounting software,
- Auto count and
Choosing the right accounting software can be a big challenge for any business. It is important to research on the business specific features, the price and also compare your choices before you make your decision to buy. The software should be able to fit into your budget and also help you to bring down the cost and save time used for cumbersome admin activities.