BEST GST SOFTWARE IN SINGAPORE

GST SOFTWARE

BEST GST SOFTWARE IN SINGAPORE

GST (Goods and Services Tax) is a consumption tax that is levied on the supply of goods and services in Singapore and the import of Goods in Singapore. When the annual turnover of the Company exceeds $1 million, the company is required to register for GST.GST tax is charged to the end consumer therefore GST normally does not become a cost to the company. Businesses merely act as collecting agents on behalf of Singapore tax department. If you are GST registered, you are required to collect GST tax from your customers for the goods and services rendered by your company and then pay the collected tax to The Comptroller of GST (IRAS). As an example, if you charged S$1,000 for your goods or services to a customer in Singapore, you must invoice your customer S$1,070 (S$1,000 for your service plus 7% GST). This GST amount in the invoice (appropriately must be called a Tax Invoice) collected on behalf of IRAS from your customer must be sent to Singapore tax department on a quarterly basis via GST tax filing.

MYOB SOFTWARE

In a GST environment, it is very important to automate your accounting process.

You have to submit the GST returns on a more frequent basis, unlike the Income tax returns. GST returns must be submitted on a monthly or quarterly basis, depending on your annual turnover.

MYOB Accounting helps you process sales and purchases, track receivables, payables and GST, email your quotes and invoices and more

PRODUCTS

  • accounting
  • payroll
  • retail point of sale
  • CRM
  • job management
  • professional tax solutions
  • websites
  • and more

 BENEFITS

  • Efficiency – MYOB helps you in streamlining your daily transactions, allowing for not only quicker entry, but more accurate entries.
  • Up To Date – when utilizing software such as MYOB for your daily accounting needs, you are able to have up-to-the-minute access to the financial picture of your business. This allows you to run your business more proficiently, allowing for split minute decisions on the daily operation.
  • Reporting – you will have access to a variety of reporting with your software. You can view everything from profit and loss statements to cash flow statements.  Since you are able to enter information in real time, you have access to this real time information, helping you make key business decisions earlier.
  • Accuracy – we all understand the importance of accuracy, when it comes to accounting. One wrong piece of information can be detrimental to a business.  When utilizing the MYOB software, your transactions are posted to the appropriate reports for tax reporting and more.  This eliminates the need for multiple entries, lessening the risk of mistakes.
  • Others – manage your cash flow more easily, complete bank reconciliation process payroll, keep track of inventory and invoices, requires no complex installation or downloads, no contracts to tie you down.

 MYOB GST

MYOB keeps track of your Taxable Supplies from point of purchase, inventory to sale. It generates a report that displays a list of transaction of total Supplies, Total taxable purchases, Total Output Tax, Total Input Tax and Net GST within a prescribed GST period. GST 03 text file can be generated. This makes it easy to submit your returns at regular intervals.MYOB provides predesigned tax invoice. It keeps adequate records of business transactions relating to GST. 

DISADVANTAGES OF MYOB

  • A major concern for cloud accounting systems like MYOB is data security, with 46% of Software Advice’s survey respondents stating security is the top concern. This is because online content may be vulnerable to hackers, fraud and other threats. However, MYOB invests heavily in security architecture and design and in implementing industry best practises. Not many organisations can afford this level of security, including secure user access controls and approval processes.
  • MYOB is not novice-friendly. An organization’s workforce must be trained on the software to avoid employees continuing with inefficient manual processes. Many companies aren’t taking advantage of cloud automation.

 

XERO ACCOUNTING SOFTWARE

  • Xero is a cloud based software which helps you to run your business from anywhere and anytime. The data is also completely secure.

 

FEATURES

  • Easy Invoicing

Invoices can be customized based on your needs. Personalised invoices can be created and sent.Automated Invoice reminders can be sent . It can also been seen if the customer has made the payment to the invoice or not. Recurring Invoices can be created, this helps in saving time and manual labour. Invoices can be prepared and sent through your phone . Bulk Invoices can also be sent.

  • Go Mobile

Run your business from anywhere with your mobile accounting app. It’s easy to send invoices, approve expenses, input receipts and reconcile.

  • Manage Inventory

Helps you keep track of the stock on a daily basis. It calculates the value of the goods you have on hand using the average cost method

  • Multi Currency

It helps to manage multi-currency accounting for your business.Gains and losses are automatically calculated.

  • Attach Files to data

Entering transactions is easy with side-by-side files: see your files on-screen alongside the record you’re updating. Your records are in one place, making it easier to collaborate with your accountant or bookkeeper.

  • Create purchase order

Purchase orders can be created and email can be sent directly to suppliers. Customised purchase orders can be created.

  • Claim expenses         

Reimbursement of Expenses can be claimed by recording all purchases in Xero. Receipts can also be attached to the expenses so that a complete record of the transaction is available at your fingertip.

 

PRICING

Starter for 10/month Standard for$15/month Premium for $20/month
Invoices and quotes (5 per month) Invoices and quotes Send invoices and quotes
Enter bills (5 per month) Enter bills Enter bills
Reconcile bank transactions (20 per month) Reconcile bank transactions Reconcile bank transactions
    Multi-currency

XERO GST

Add your own tax rates in Xero to charge or record sales tax on your invoices, bills and transactions. 

Each tax rate can have multiple components and you can have as many rates as you need, for example, sales tax and state tax. 

Set your tax default for sales or purchases. 

Use the sales tax report for any period to see every transaction that occurred and was used in the calculation of totals on the sales tax worksheet.

 REACH SOFTWARE

Reach Accounting software is the best alternative to Tally and Quickbooks. It allows all your employees across all branches to work at the same time.

 

WHO CAN USE

Tax Consultants

Chartered Accounts, Cost Accountant, Corporate Lawers, Tax Practitioners and Other GST Consultants who help clients file GST Return.

Consultant and Freelancers

Reach can be used Consultants, Rentals and subscription business, Startups and Small Business for doing their Invoices, expense management, customer management and Accounting.

Packers and Movers

Manage your Enquiry and Bookings. Automate your pre-move survey and automate communication with customers.

Rentals and Subscription

Reach GST Software can be used by Equipment and Car Rental, Leasing and Subscription based companies to manage their Invoices, expenses and Accounting.

Startups

Automate your Business and Monitor it in your Smart Phone

Transporters

Manage your Consignment Notes, Truck hire and Understand the profits for every Booking using a Cloud based ERP Software for Transporters.

e-commerce stores

Reach can be used as a back-end to e-commerce companies to manage their accounting and Inventory seamlessly. The orders in the e-commerce store can be downloaded automatically to Reach.

Electronics and spare parts dealers

Reach can be used by Electronics and Auto spare parts dealers to manage batches and serial number of Inventory.

Automobile Dealer

Reach GST Software can be used new and used car dealers to manage their sales and purchase documentation and manage sales comissions across branches.

Wholesalers & Distributors

Reach can be used automobile, surgical, furniture and Importers other traders and wholesalers for purchase management, billing, managing inventory, and outsource to factories.

Cafe & Bakery

Reach GST Software can be used by Bakeries and Cafe who work on self service model. It can handle dine-in, home delivery and take aways across branches.

Diamond Traders

Reach can be used diamond traders for purchase management, billing, managing inventory, outsource to factories and sell on consignment.

Furniture Stores

A powerful Full fledged ERP at the price of an Accounting Software.

Jewellery Store

Reach can be used by Jewellery Retailers for Purchase, Billing, Inventory Management, Barcoding, Order Management and Chits across branches.

Service Centres

Create Jobcards, manage Inventory and do billing and barcoding across branches using a low cost erp software on the Cloud.

Textile Stores

Reach can be used by Textile shops, Baby Shops, Toy shops and Botiques for Purchase, Billing, Inventory Management, Barcoding, and Loyalty Management across branches.

Super Markets

Reach can be used by Super Market, Mom n Pop shops, Convenience stores and Hyper Markets for Purchase, Super fast Billing, Inventory Management, Barcoding, and Loyalty Management across branches.

Takeaway business

Reach has an Virtual Ordering Assistant, which allows your customers to place orders from their mobile phones. You can push offers, get more orders and increase revenues.

Workshop management

Reach can be used automobile and other workshops who do servicing and repair.

Textile Stores

Reach can be used by Textile shops, Baby Shops, Toy shops and Botiques for Purchase, Billing, Inventory Management, Barcoding, and Loyalty Management across branches.

Manufacturers

Reach can be used by both made to order and made to supply companies for Supply Chain Management,  purchase management, Invoicing, managing inventory, Quality Control, Manufacturing Management, Production Planning, Batch Control and outsourcing to factories.

Job work & Contractors

Reach can be used by Job works and Contractors for bringing in efficient control over materials and rates planned for the projects and their efficiency.

Importers and Exporters

Reach can be used by Importers and Exporters to do their Invoicing, Manage their Inventory and Accounting. It automatically calculates exchange rates and converts the currency.

WHY REACH OVER OTHER SOFTWARE

  • Free cloud server advantage
  • All documents in one place
  • Even if you have multiple businesses, All accounts are docked in a single account
  • Easily import from Tally and Excel
  • Localized personally for all your business·
  • Personalized billing system·
  • Manage your customer, Supplier Management, Product Management
  • Unlike traditional software, our products are hosted on the cloud and
  • Allows all your employees to work at the same time
  • Custom made to suit your business·
  • Captures your leads from Emails and websites directly
  • Tracks your orders
  • Raises invoices
  • Converts Invoices raised in Foreign Currency to Indian Rupees
  • Imports from Excel and Tally
  • Gives Multi-User access
  • Allows to view reports on Mobile Phone
  • Manages your inventory
  • Shows your branch wise/sitewise profitability·
  • Securely backs up your data online
  • Free cloud server
  • All business data in one place

CONCLUSION

Reach is custom based to suit your business, it tracks your orders, raises customised invoices, has multi-currency facility. The main feature of Reach is its Mobile App. The application can be accessed from anywhere and anytime.All business data can be seen at one place.

Feel free to Chat with us

 

 

 

 

 

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