Many businesses in Singapore face the same problem: manual processes, error-prone spreadsheets, and systems that don’t keep up with growing needs or compliance requirements like those from IRAS. These inefficiencies can lead to delays, missed reporting deadlines, and poor financial visibility.
Infotech accounting software is one of the solutions available on the market today. It offers core features to help businesses manage income, expenses, and reporting. But is it the right fit for your business?
In this article, we’ll review what Infotech accounting software offers. Its features, strengths, and potential limitations, while also exploring alternative solutions that may better suit your business needs.
Key Takeaways
|
Table of Content:
Table of Content
What is Infotech Accounting Software?
Infotech Accounting Software is a digital solution designed to help businesses manage their financial operations efficiently and effectively. It offers tools for bookkeeping, invoicing, payroll, tax calculations, and financial reporting, all integrated into a single platform.
With automation features, Infotech Accounting Software reduces manual data entry, minimizes human error, and improves the accuracy of financial records.
Primarily targeted at small to medium-sized enterprises (SMEs), the software aims to simplify complex accounting tasks. Users can track income and expenses, generate real-time financial statements, and ensure compliance with local tax regulations.
Many versions also include customizable dashboards, multi-user access, and cloud-based storage, allowing for flexible and secure financial management from anywhere.
Main Benefits of Infotech Accounting Software
Using Infotech Accounting Software can provide a range of advantages for businesses aiming to manage their finances more efficiently.
With smart automation and comprehensive features, it simplifies complex financial tasks, improves accuracy, and supports better business decisions.
Here are five key benefits of using Infotech Accounting Software:
- Improved efficiency
Automating tasks like invoicing, expense tracking, and payroll processing saves time and allows teams to focus on higher-value activities. - Greater accuracy
Automated calculations and built-in checks reduce the chances of human error, resulting in more reliable financial data and smoother audits. - Better organization
Financial transactions and reports are stored in one centralized system, making it easy to access, manage, and retrieve important financial information. - Regulatory compliance
Many Infotech accounting solutions help businesses stay compliant with tax regulations and reporting requirements through automatic updates and built-in compliance tools. - Secure and accessible data
With cloud-based systems, businesses benefit from strong security protections while maintaining the flexibility to access financial data from anywhere.
By adopting Infotech Accounting Software, businesses can enhance their financial operations, reduce errors, and gain valuable insights that contribute to sustainable growth.
Must-Have Features of Infotech Accounting Software
When selecting Infotech Accounting Software for your business, it’s crucial to consider the must-have features that will streamline your financial management and ensure compliance.
By choosing software with the right capabilities, you can make sure it meets your specific financial management needs.
The key features you should look for include:
- Robust invoicing software
A solid invoice software is essential for generating and tracking invoices, managing payments, and maintaining a clear record of client transactions. - Expense tracking and bank reconciliation
Accurate tracking of expenses and easy reconciliation with bank statements are vital for ensuring the precision of your financial records. - Comprehensive reporting and analytics
Reliable reporting features provide valuable insights into your business’s financial health, helping you make informed decisions. - Integration with other systems
Seamless integration with other business systems allows for easy data exchange and enhances overall operational efficiency.
By considering these essential features, you can select Infotech Accounting Software that enhances financial management, ensures compliance, and drives business growth. With the right software in place, you’ll have access to accurate and timely financial information to make decisions that support your business’s success.
10 Infotech Accounting Software 2025 Recommendations: Reviews, Prices, and Ratings
When considering the infotech accounting software options, it is essential to explore reviews, prices, and ratings to make an informed decision. These three factors play a crucial role in determining the suitability and value of the accounting software for your business.
Have you no idea to scrape product price data from eCommerce websites? You can find the top 10 price scraper from this article. By examining reviews, prices, and ratings, you can gain insights into user experiences, cost-effectiveness, and the overall quality of the software before making your selection.
1. HashMicro
HashMicro’s accounting software is a game-changer for any kind and size of business enterprise looking to streamline their financial management processes. This software has various robust features, including cash flow management, journal entries, and reconciliation, all available in one place. Additionally, HashMicro’s Peppol network-ready software ensures seamless invoicing management. Optimized efficiency, real-time data, improved accuracy, and increased profitability are just some of the benefits of this remarkable software.
The financial dashboard, cash flow forecasting, fast bank reconciliation, and analytical reporting features make it easy to keep track of the financial state of your entire business and make informed decisions. With integrations such as inventory management software, purchasing, and CRM-sales systems, HashMicro’s accounting software is truly extraordinary. Most importantly, the prices are affordable as businesses can claims a Productivity Solutions Grant up to 50%.
Key features:
- Hashy AI for Finance: This feature automates financial tasks, offers predictive insights, and identifies fraud in real time. It simplifies financial reporting and ensures tax compliance with AI-powered precision.
- Asset Database & Depreciation: This feature tracks all company assets, documenting their original value and depreciation rates, helping with asset lifecycle management and accurate financial reporting.
- E-Invoice Integration with IRAS: E-invoices are directly linked to the Inland Revenue Authority of Singapore (IRAS), improving tax compliance and streamlining the tax reporting process.
- Financial Budgeting & Realization: This tool assists in creating your company’s financial budget and tracking its performance over time.
- Cash Flow Statements: Provides an overview of the company’s cash inflows and outflows, helping with future financial planning.
| Pros |
Cons |
|
|
Hashy AI Fact
Need to Know
Hashy AI from HashMicro enhances accounting with predictive analytics and fast transactions. With Hashy AI Finance, financial processes are optimized and efficient.
Request a free demo today!
2. Info-Tech Singapore
Info-Tech Singapore offers cloud-based human resource and payroll software to businesses of all sizes and industries. This accounting software includes modules such as mobile attendance apps, time attendance software, payroll software, leave management software, accounting software, and expense claims software. Overall, it is designed to make the accounting process easier for business owners by automating calculations, generating invoices and bills, and keeping track of stock inventory.
Key features:
- Automated invoicing
- Expense tracking
- Financial reporting
- Compliance tools
| Pros |
Cons |
|
|
3. Odoo
Odoo is an infotech accounting software package that serves various retail and e-commerce purposes. This software is notably effective for budgeting forecasting, expense management, cash flow management, and more.
Odoo has been widely praised for its comprehensive features and ease of implementation. Consulting an Odoo review can offer deeper insights into why it is considered a straightforward yet effective ERP solution, particularly for small businesses.
Key features:
- ERP integration
- Inventory management
- Invoicing
- Financial reporting
| Pros |
Cons |
|
|
4. Oracle
Oracle’s E-Business Suite is a software product that provides a set of integrated business applications designed to help organizations make better decisions, increase performance, and reduce costs. It offers features such as accounts payable purchase orders, accounts receivable invoicing, cash flow management, and expense management, among others. Additionally, Oracle E-Business Suite also has robust reporting and analytics capabilities, allow users to gain valuable insights into their financial data.
Key features:
- Comprehensive financial management
- Real-time reporting
- Advanced analytics
- Multi-currency and multi-region support
| Pros |
Cons |
|
|
5. Deltek
Deltek WorkBook is an agency management software that helps with project and financial management. This software provides insight that can make your agency more efficient, productive, and profitable. With its many features, the software is user-friendly and easy to customize and integrate with other systems. All in all, Deltek WorkBook is a reliable infotech accounting software choice for financial management.
Key features:
- Project-based accounting
- Time tracking
- Budgeting and forecasting
- Resource planning
| Pros |
Cons |
|
|
6. Psoft
Psoft’s accounting software offers a range of features to streamline financial management and improve productivity. With this, you can track and manage financial transactions, generate essential financial statements, and handle invoicing and cash flow management. Moreover, this Psoft accounting software supports multi-currency transactions and allows for collaboration among team members. Other than that, you can create customized reports and analyze financial data using its reporting and analytics tools.
Key features:
- Payroll management
- Financial reporting
- Budgeting
- Accounting automation
|
Pros |
Cons |
|
|
7. Zoho
Zoho’s Zoho Books is an online accounting software designed to handle your financial tasks. It automates workflows and promotes collaboration across departments, ensuring that you can focus on your business. With Zoho Books, you can negotiate deals, raise sales orders, and handle invoicing easily. Furthermore, Zoho accounting software offers simple and affordable pricing plans, which is suitable for businesses of all sizes.
Key features:
- Invoicing
- Expense tracking
- Tax management
- Financial reporting
| Pros |
Cons |
|
|
8. Wave
Wave is a money management solution designed for small business owners. With this accounting software, you can take charge of your finances and gain a complete understanding of your business’s health no matter where you are. In addition, you can manage your invoicing, payments, accounting, and payroll, and receive expert advice all in one place. Wave accounting software solution helps to track your income and expenses seamlessly.
Key features:
- Invoicing
- Expense tracking
- Accounting automation
- Basic reporting
| Pros |
Cons |
|
|
9. FlexSystem
FlexSystem is an accounting software brand that focuses on providing comprehensive financial management solutions. Its expertise is in managing financial performance to drive profitable growth. The software offers a range of features such as bookkeeping, multi-currency support, consolidation, budget control, and more. Overall, this Flex accounting software solution offers a functional and reliable accounting software solution for businesses seeking to streamline their financial management processes.
Key features:
- Accounting automation
- Payroll management
- Financial reporting
- Tax compliance
|
Pros |
Cons |
|
|
10. Akaunting
Akaunting is a cloud-based, open-source accounting solution designed to simplify financial management for small businesses and entrepreneurs. It provides comprehensive features such as invoicing, expense tracking, and financial reporting, enabling users to manage their finances efficiently and make informed business decisions. With Akaunting software, you can find user-friendly, real-time access, and cost-effective accounting solutions.
Key features:
- Invoicing
- Expense tracking
- Financial reports
- Multi-currency support
|
Pros |
Cons |
|
|
Conclusion
Infotech Accounting Software is a powerful tool designed to help businesses manage their financial operations more effectively. By automating key financial tasks such as bookkeeping, invoicing, payroll, and tax reporting, this software streamlines day-to-day operations.
With all financial data stored in one place, businesses can easily track income and expenses, generate financial reports, and maintain compliance with regulations, all while ensuring the security of sensitive information.
For businesses seeking a comprehensive accounting solution, HashMicro Accounting Software provides a robust platform that encompasses all aspects of financial management. With its features, HashMicro helps companies to streamline their accounting processes.
Ready to simplify your financial management? Discover the power of HashMicro Accounting Software by signing up for a free demo today.
FAQ About Infotech Accounting Software
-
What is ERP in accounting?
Enterprise Resource Planning (ERP) is a software solution that enables organizations to integrate and optimize their key business operations—such as finance, human resources, manufacturing, supply chain, sales, and procurement—through a unified platform that offers a single, reliable source of data.
-
What is GAAP in accounting?
Generally Accepted Accounting Principles, or GAAP, refer to a set of established concepts, objectives, standards, and conventions that have developed over time to direct how organizations prepare and present their financial statements.
-
What is IFRS in accounting?
International Financial Reporting Standards (IFRS) are a collection of accounting guidelines designed to ensure that the financial statements of public companies are consistent, transparent, and comparable across international markets.
