Best Accounting Software Systems to Look For in 2019
Accounting has always been an integral part of any business since there is not a single business that does not manage finances. However, financial management in many companies can be very complex so the need for accounting software has become increasingly pervasive.
Accounting is not just about making payments to suppliers or creating invoices for clients. It is beyond that. There are many accounting processes that need to be simplified such as tax management, bank reconciliation, accounts receivable management, and so on.
If you own a business in Indonesia and are looking for an accounting system to automate your financial management, then you are reading the right article. Here are five best accounting apps in Indonesia that you can consider.
EQUIP
EQUIP is an accounting system developed by HashMicro, a Singapore-based ERP solution provider. Although it’s still fairly new in Indonesia, the cloud-based and on-premise software has been used by companies from various industries in Indonesia, such as Astra Finance, The Face Shop, Hino Truck, Yokohama, and many more.
EQUIP Accounting is provided with a lot of constructive features needed by companies in Indonesia to manage their finances, including invoice and payment management, credit and debit note management, localized tax management, financial statement generation, multi-currency management, bank reconciliation, account management, and a lot more.
Some other advantages of EQUIP Accounting include financial forecasting and profit and loss tracking across department and even multiple office locations.
What distinguishes EQUIP Accounting from other well-known accounting systems in Indonesia is that it offers unlimited licensing for each company so that it can be used by as many users as possible without additional costs. The accounting software that is integrated with the payroll, sales, and inventory modules also provides convenience for users to customize it, because the system itself is developed in-house.
SAP
The Germany-based ERP service provider has over 300,000 customers in over 180 countries, including Indonesia. Through S/4HANA Finance, SAP offers a cloud-based and on-premise accounting solution for large companies in Indonesia to automate their accounting processes.
Some of the main features of SAP S/4HANA Finance include; real-time financial reporting, accounts payable and receivable management, credit management, financial planning, and budget management. Just like EQUIP Accounting, SAP also has a great reporting tool that enables companies to forecast their future financial performance.
SAP S/4HANA Finance can be combined with SAPSuccess Factors to help simplify company’s human resource management. In Indonesia, SAP is more suitable for large-scale companies.
Zahir
One of Indonesia’s oldest accounting solution providers serves various types of businesses through four packages; Zahir Online for service and manufacturing business, Zahir Essential for distributors and traders, Zahir Professional for contractors and manufacturers, Zahir Enterprise for large companies, and Zahir On Premise for medium and large businesses.
Some of the main features offered by Zahir for small and medium businesses include sales management, purchasing management, accounts payable and receivable management, and cash management. As for large companies, there are more features offered, which include inventory management, warehouse management, and asset management.
Accurate
Accurate offers two types of accounting system packages for business owners who want to automate their financial processes, namely Accurate Online and Accurate 5 Desktop. Accurate Online only requires users to subscribe every month and stores their data in the cloud, while Accurate 5 Desktop requires users to purchase it permanently and stores their data on their computers.
Some of the main features are quotation management, sales order management, delivery order management, invoicing, and receivable management. Although Accurate can be used to scan barcodes using a scanner, it is unable to generate them.
Jurnal
Jurnal provides a cloud-based accounting system that is more suitable for use by small and medium businesses in Indonesia. Without installation charges, this financial app can be accessed from anywhere as long as the device is connected to the internet.
Jurnal offers a variety of features that businesses need such as real-time reporting, invoicing, budget planning, inventory tracking, and asset management. Users can also connect their bank account to the app through a feature called Cash Link.
So, Which Accounting Software Should I Choose?
With these options at your fingertips, you may be confused about which one you should choose. However, by taking into account a number of things, you will be able to find the right accounting solution for your business more easily.
Two important things to consider are your business needs and the budget you have. The more and complex your business needs, the more features you will need. The size of your business and the number of employees can also be aspects that need to be considered.
Medium and large scale companies with a large number of employees need accounting software that can be easily customized and integrated with various other systems, such as purchasing, inventory, HRM, and sales. It should also be borne in mind that the more customizations needed, the more costs will have to be incurred for an accounting system.