Learning how to start your own accounting software for small business hong kong is an important part of your business, whether you are just starting out or have been running your company for decades. These free accounting software can help you get started.
It is vital that you know about accounting software for small business hong kong because it will be the tool that drives your company. Doing this will ensure that your business not only runs smoothly but also lets you focus on what’s important.
Xero
Xero was founded in New Zealand in 2006 and is one of the biggest and fastest-growing accounting software. The company has more than 2,500 employees and leads the cloud accounting markets in New Zealand, Australia, and the UK.
Xero has seen rapid growth in the past years and as of 2019, they have helped more than 2 million subscribers.
A great benefit of using Xero is that the software is connected with 3 major banks in Hong Kong, including DBS, Hang Seng Bank, and HSBC. They help with automatic transaction updates directly into Xero daily, which helps you to manage your work more efficiently and saves you time.
Packages & Prices
Xero offers 3 different packages, including:
- Starter: USD 20
- Standard: USD 30
- Premium: USD 40
Starter
The Starter package is, as you can see, the cheapest option and allows you to send 5 invoices and quotes, enter 5 bills, and reconcile 20 bank transactions per month.
Standard
The Standard version, on the other hand, allows you to send invoices and quotes, enter bills, and reconcile bank transactions without any restrictions.
Premium
The Premium version is your option if you want to be able to handle multiple currencies. They also have a free trial that includes all the features as the Premium version, valid for 30 days.
Integrations
Xero is integrated with numerous other applications, including Stripe, PayPal, Receipt Bank, and more. For more information, you can visit this page.
Sage
Clearly, one of the most popular in Hong Kong, this award-winning accounting software is specifically designed to help small businesses through the various stages of growth. For new companies starting their journeys, they have Sage Business Cloud Accounting, and for companies further along in their journeys, Sage 50 Accounting Peachtree provides diverse services under one platform.
Sage Business Cloud Accounting can easily and quickly create invoices, track accounts, and process payments for small businesses on a super-secure platform. It provides unlimited transactions and email support, 1GB storage and automatic backups.
Price: starts from HK$65 per month( HK$702 annually) with the option of adding services and team members for a fee. Sage 50 Accounting Peachtree (available in Hong Kong only at www.centrolink.com.hk) is a desktop accounting software to simplify everyday corporate tasks. Its main functionalities are managing cash flow and costs, making bill payments and accepting payments, and planning and tracking inventory. The price varies depending on how many team members use the software:
- Single-user starts at USD 529.95
- 1-5 users USD 699.95 onwards
- Up to 40 users starts from USD 1346.95
Zoho Books
Zoho Books is a leading accounting software that has grown quickly in the past years. According to Business.com, it’s the best business accounting software reviewed for small businesses as it offers low costs and has plenty of useful features.
The application has accounts payable, accounts receivable, banking, and inventory.
Packages & Prices
Zoho Books has 3 different packages, including:
- Basic: USD 39
- Standard: USD 79
- Professional: USD 199
Basic
Allows you to invoice 500 customers, having 3 users, and 3 automated workflows/modules. You’ll also get:
- Hosted payment pages
- Multi-currency support
- Dunning for automatic payments
- Multiple payment gateways
- Offline payments
- REST API & Webhooks
- Subscription metrics
- 24/5 Email and Phone support
Standard
The standard package allows you to invoice 2,000 customers, having 5 users, and 10 automated workflows/modules. It includes everything else in the Basic package, plus:
- Web tabs
- Customer portal single sign-on
- Domain branding
- Custom buttons
Professional
With the professional package, you can invoice 5,000, have 10 users, and 10 automated workflows/modules. In addition, you will get everything in the Standard package plus:
- 24/5 Live Chat support
- Custom Schedulers
If you pay for one year upfront you’ll also enjoy discounts for any of the packages.
Integrations
Zoho Books is integrated with plenty of payment service providers, including Stripe, PayPal, WorldPay, Braintree, and Razorpay. Also, you can integrate it with various other programs and applications like Zapier, Office 365, and Zendesk.
Express Accounts Accounting Software
A more affordable alternative for smaller, budget-conscious businesses, Express Accounts focuses on providing all the essential features for small businesses without any frills. With Express you can
- Tracks sales and accounts receivable information
- Record recurring orders and repeat invoices
- Creates quotes, sales orders, and invoices
Price: the basic version is free for use by upto 5 team members. A standard edition Express Accounts Basic outright license costs USD 99.
QuickBooks
QuickBooks was launched in 2002 by Intuit, a big business and financial software company from the US. They primarily target small and medium-sized companies that need help with accounting services, using cloud-versions and onsite applications.
QuickBooks allows you to:
- Track your expenses
- Create and send business forms
- Check your business performance
- Efficiently manage your cash flow
Packages & Prices
QuickBooks offers 3 packages:
- Simple Start: USD 7.50 (50% discount first 6 months, original price USD 15)
- Essentials: USD 11.50 (50% discount first 6 months, original price USD 23)
- Plus: USD 15.50 (50% discount first 6 months, original price USD 31)
Simple Start
This is the smallest package and for 1 user, plus your account.
Essentials
It can be used by 3 users, plus your accountant.
If you opt-in for this package, you will also be able to manage and pay bills, generate sales quotes, and handle transactions in multiple currencies.
Plus
Up to 5 users, plus your accountant. In addition to the functions offered with the Essentials package, you can create purchase orders, track inventory, and track project or job profitability.
Integrations
You can integrate QuickBooks with programs and applications like Shopify, PayPal, BigTime, Buildertrend, and more.
Osome
Designed as a full-stack business assistant app, Osome digitizes a whole range of accounting and compliance tasks. The software rests on a foundation of machine learning-based tech that automates administrative, accounting, payroll and tax-related work. And depending on your subscription model, it also gives access to chartered accountant services. Some interesting features are:
- Automated accounts like income statements, balance sheets, and cash flow statements
- annual profits tax return filing
- regular updates and reminders about finance and filing deadlines
Price: The pricing is entirely based on your business revenue. Businesses with turnovers under HK$30k per month can start with the Mini package of HK$288 per month and go up the ladder to Starter package of HK$720 per month and all the way to the Unicorn Accounting package of HK$1,800/month.
AutoMi
If you’re just started an SME and want to start off without having any solid accounting knowledge, then AutoMi might be your go-to. It employs a recurring model.
It’s free for 7 days, and also offers a multi-currency account.
There’s also no limit on contacts and 20 custom fields. Other than that, it offers multi-warehouse as well.
The user interface is also quite user-friendly. It includes images and rich text descriptions alongside 20 custom fields.
You can also print images in documents as well.
Not to mention the fact that It also offers different language interface options – simplified and traditional Chinese, and of course, English, which suits most, if not all, all of your employee’s needs.
Here’s other functions that it provides:
Accounting
- You don’t need to hire an in-house accounting professionals.
- Easy integration with Sage/MYOB
Transactions
- Each login user would have an auto-numbering
- Regular updates on exchange rates
- Have different currencies to bill the same customer
Supported sales transactions
It is supported by…
- Sales invoice, order, quotes, notes, credit note, delivery note
NetSuite
NetSuite was founded in 1998 in the US and a subsidiary of Oracle Corporation. The company has grown significantly in the past years and was acquired by Oracle for USD 9.3 billion in 2016.
In addition to online accounting services, NetSuite helps clients with Global Business Management, CRM solutions, Email Marketing, Analytics, and more.
NetSuite requires that you sign up for a product demo before they share detailed price lists. For more information, simply visit this link and fill in the form.
Integrations
NetSuite has not listed the integrations they have on the website. Thus, I recommend you contact them for up-to-date information.
Conclusion:
Finding good accounting software for small business is not impossible. Especially when you can find an accounting software for small businesses with so many helpful and useful features. This is the perfect example of a friendly and flexible software that will be, in no time, your new best friend in managing finances and keeping track of receivables.