9 Best Accounting Software in Malaysia (2024)

Malaysia’s economy depends on small and medium-sized businesses. Owners of those businesses know the importance of finances in business management. They are also aware of the fact that learning accounting, bookkeeping, and financial management from scratch is an almost impossible task. Therefore, all the astute business owners, either from Malaysia or any other country of the world, don’t prefer to spend extra time and money on learning to account and turn to an easy but impactful solution and accounting software is the obvious option.

Accounting software is an exceptionally handy tool that helps you keep full control over finances. Such tools assist you in organizing your business’s accounting entries and also manage your finances. Accounting software performs several accounting processes such as recording and tracking income/expenses, creating and sending invoices, accounts receivables/payables, generate reports, and much more. However, the difficulty lies in the selection of the right accounting software for your business. Fortunately, Malaysian businesses can choose from a wide variety of custom-built accounting software for Malaysian businesses as well as from top-notch vendors providing services all across the globe.

If you are running a business in Malaysia and looking for the best accounting software in Malaysia, then there is no need to feel helpless. Because we are going to share with you a list of the best accounting software in Malaysia in today’s post.

Upfront Conclusion

The best accounting software in malaysia right now is SQL Account and Sage.

Top 9 Accounting Software in Malaysia

SQL AccountFinancio
Sage
Zahir
Bukku
QuickBooks
Xero
FreshBooks
Zoho Books

1. SQL Account

SQL Account accounting software is at the top of the best accounting software in Malaysia and is trusted by more than 250,000 small and medium-sized businesses. It is a highly suitable as well as fruitful tool for businesses of all sorts and sizes. SQL Account is also one of the most user-friendly accounting tools that are easy to set up and implement. It is a cloud-based solution that allows you access from anywhere, anytime. Furthermore, SQL also offers SQL Payroll software as well that is also a feature-rich solution for you if you need a handy payroll solution as well.

Key features

Allows you to individually send batch email statements to all your customers with password encryption.
Also offers industry-specific versions such as shipping & forwarding, photocopier meter, distributor, construction, etc.
Helps businesses in better assessment of risks by providing its users a financial standing overview of their suppliers and customers.
Comes with advanced security locks that help you keep your documents safe and secure.
Also prepares intelligence reports such as annual comparison of profit & loss, commission collection reports, and so on.

Pricing

SQL Account offers the most competitive prices in Malaysia and it has two pricing plans.

The Basic plan starts at RM 39.50 per month
The Pro plan starts at RM 54.50 per month

2. Financio

Financio is also among the best accounting software in Malaysia that makes accounting for business owners of all types and sizes. It is also among the most user-friendly software with a multilingual interface. Financio also allows unlimited users to help you reduce your workload by inviting your partners, bookkeepers, accountants, etc. Besides numerous remarkable features, Financio offers the highest level of security when transferring data from your machine to Financio’s server. Moreover, it offers exceptional customer support via live chat or email.

Key features

Performs accounting processes automatically and generates accounting entries and tax records.
Allows e-invoicing, generates professional invoices, and electronically sends them via emails.
Keeps charts and reports at your fingertips to enable you to analyze your business’s performance whenever your want.
Comes with customizable permission settings to help you grant very precise permission to others.
Also facilitates connecting one business with others and share transactions, files, updates, etc. with each other.

Pricing

Financio offers only one plan, Premium that starts at $9.95 per month. You can avail of a 30-day free trial to test the usability of this economical accounting software in Malaysia.

3. Sage

Sage is another one of the most popular and the best accounting software in Malaysia. It lets Malaysian-based companies of all sorts and sizes create professional details, financial management, and local tax calculations. Sage is a powerful tool that offers exceptional features to perfectly manage finances and reduce administration which makes it the perfect fit for small and medium-sized companies. Sage has a very interactive and user-friendly interface that helps you regularly analyze key financial performance indicators.

Key features

Helps you keep an eye on accounts receivables/payables to keep track of incoming payments as well as invoices from suppliers.
Creates professional financial reports to review your business’s performance and profit margins.
Its inventory management module is an intuitive one that helps you keep the right amount of stocks in warehouses.
Creates professional invoices and helps you receive payments from your customers quickly.

Pricing

Sage offers two versions and has different pricing plans for each of them. The first one is Sage Business Cloud Accounting and allows you to pay monthly or yearly as you prefer. Its prices are RM33 per month or RM 356.40 per year. The second one is Sage UBS and you have to contact the vendor for pricing details.

4. Zahir

Zahir is another great option for small and medium-sized companies operating in Malaysia. It is a feature-rich, easy, and user-friendly accounting software that provides perfect support for your growing business. Zahir provides all that you need to establish a perfect and entire business management system that enables you to remain in full control of your finances. It is one of the best accounting software in Malaysia because of numerous top-quality features and for its simplicity of interaction. More than 70,000 companies are currently using Zahir and that’s is the evidence of huge success it has achieved since its inception in 1996.

Key features

Is a simple yet intuitive accounting solution for your company that is oriented towards ensuring simplicity of interaction to make your accounting activities effortless.
Is a perfect solution for businesses of almost all sorts and sizes such as distribution, retail, food & beverages, professional service, manufacturing, non-profit organizations, and so on.
Ensures data security by using an encryption system supported by SSL Certificate Extended Validation internet connection.
Allows you to create customizable invoices using the layout style facility.
Also enables you to monitor your profit or loss per project or department to make budget control, realization, and profits easy than ever before.

Prices

Zahir offers three pricing plans to choose from.

Zahir Simply starts at RM 39 per month
Zahir Essential starts at RM 119 per month
Zahir Professional starts at RM 149 per month

5. Bukku

Bukku is another cloud-based, intuitive, and one of the best accounting software in Malaysia. It is a powerful tool developed for small companies that can reduce management costs, enhance sales, and improve cash flow. Bukku comes with an intuitive dashboard that saves a lot of time and also helps you predict your upcoming cash flow. Moreover, you can have all the important data and reports at your fingertips to make timely and informed business decisions. Besides offering a lot of commendable features, Bukku offers very economical and affordable pricing plans that suit small and medium-sized businesses.

Key features

Helps you close more sales by enabling you to issue invoices on the go to instantly close sales and digitally send those invoices to improve cash flow.
Provides past 30-day cash flow trends and a cash flow forecast of the next 30-days to empower you to regularly observe your cash flows.
Comes with a remarkable feature Digital Shoebox to help you organize your receipts and automated data entry as it also offers automatic data extraction from receipts.
Its simple and beautiful yet user-friendly dashboard enables you to see your important data at a glance and in real-time.
Phenomenal features like Recurring Invoices, Progress Payment Terms, Multi-users with Flexible Permissions, and much more help you automate and streamline your business processes.

Pricing

Bukku offers 3 pricing plans for small and medium-sized companies.

The Lite plan starts at RM 59 per month
The Premium plan starts at RM 99 per month
The Platinum plan starts at RM 499 per month

6. QuickBooks

QuickBooks boasts about having 4.5 million customers from across the globe including Malaysia. It is on the list of the best accounting software in Malaysia because it offers numerous unmatchable features at affordable prices that suit small and medium-sized businesses operating in Malaysia. You can take your business anywhere with the help of this remarkable tool as all QuickBooks plans include free iOS and Android applications that enable you to handle your financial data from the office, commute to work, or from the comfort of your home. QuickBooks’s astonishing apps let you do any bookkeeping task very easily such as online receipts, online payments, sending invoices, etc. Moreover, it offers customer support that is among the very best in the business. When you contact them through the QuickBooks Online program, ask a question, and provide a cell phone number, you are contacted as soon as possible for a detailed answer to your question.

Key features

Offers free iOS and Android apps that make your financial record keeping exceptionally easy. You can also handle your business data from anywhere, anytime with the help of mobile applications that run smoothly.
Ensures secure cloud storage that is an important feature to store your data safely in the cloud. It eliminates your worries to keep your data secure by providing bank-level security.
Also allows you to let your accountant access the account if you want to share your books.
Presents customizable reports to observe how your business is going.
Also allows you to send unlimited invoices to ensure nothing stands between you and your money.

Pricing

QuickBooks offers a free 30-day trial to check its usability to its customers. Free trial is available on all three plans.

The Simple Start plan starts at $8 per month
The Essentials plan starts at $12.50 per month
The Plus plan starts at $17 per month

7. Xero

Xero is another feature-rich, cloud-based, and one of the best accounting software in Malaysia. Its interactive and user-friendly interface is highly captivating for companies of all sizes from different industries. Xero has become popular in Malaysia because it offers remarkable features and also makes accounting activities extremely easy. Business owners happily leave accounting and bookkeeping to Xero and focus on their businesses.

Key features

Has a mobile application that enables its users to handle bookkeeping activities on the go.
Helps you track and timely pay bills and also presents a clear picture of accounts payable and cash flow.
Instantly reconciles with your bank accounts and you can get bank feeds.
Empowers you to track projects and their timeframe, costs, and profitability.
Generates accurate accounting reports to help you track your finances.

Pricing

Xero offers three different pricing plans and all of them cover all accounting essentials. Its three plans are;

The Starter plan starts at $20 per month
The Standard plan starts at $30 per month
The Premium plan starts at $40 per month

8. FreshBooks

FreshBooks has all the strengths to make its place in the list of the best accounting software in Malaysia. It is among the most user-friendly accounting tools available in the market and that also makes it the best option for business people who have negligible knowledge of accountancy as well as computer systems. Moreover, FreshBooks offers unique invoicing features such as customizable invoice formats, recurring invoices, etc. FreshBooks lets you do accounting activities ranging from simple to complicated activities. Besides invoicing and income/expense bookkeeping, you can reconcile your bank account, create numerous reports, manage projects, manage and track time, avail automatic payment and fess reminder, and various other remarkable features.

Key features

Enables you to generate professional invoices and also makes invoicing very easy that takes only a second.
Organizes your income and expenses effortlessly and help you remain always ready for tax time.
Also empowers you to manage projects as it keeps your conversations, files, and other relevant data in one place. You can also synchronize your team and projects on schedule.
Brings automatic depositors and eliminates the chase of clients for checks.
Ensures to make reports as simple as possible to be more understandable for you while quite powerful for accountants for professional use.
Its iOS and Android apps empower you to remain in contact with your clients from anywhere, anytime.
Integrates with other 100+ apps and enables you to streamline your business, connect with your customers, and run your business in a better way.

Pricing

FreshBooks offers four pricing plans to help writers manage their business’s financial aspects.

The Lite plan starts at $13.50 per month
The Plus plan starts at $22.50 per month
The Premium plan starts at $45 per month
The Custom pricing plan is also available for more advanced businesses.

9. Zoho Books

Zoho Books is another option for businesses functioning in Malaysia that speed ups accounting activities. It organizes various different activities into a single timesheet workflow to make your work quick, easy, efficient, and effective. Zoho Books is also very easy to handle and user-friendly. You just have to add a customer and mention the projects you will work on for him/her in order to simply track time and expenses, create and send invoices, and manage other activities in a single place. The plus point of Zoho Books is that it is a part of the most comprehensive Zoho tools. You can also choose other Zoho tools such as email hosting, CRM, project management tool, etc.

Key features

Helps you track your expenses seamlessly. You can upload receipts to the tool, organize your expenses, and easily track where your money is being spent.
Enables you to generate customizable invoices and receive your payments faster.
Also generates bills to track payments you owe to your service providers such as publishers.
Offers the easiest bank account reconciliation, fetches bank transactions, and manages them effortlessly.
Helps you manage your projects more effectively with timesheets to track every minute.
Its client portal enables your customers to view their transactions in one place.

Pricing

Zoho Books offer three pricing plans that allow you to choose the best options for you according to your business’s needs and requirements.

The Standard plan starts at $15
The Professional plan starts at $40
The Premium plan starts at $60