Managing financial information is a critical component of any business. Selecting the right accounting software helps businesses solve a substantial amount of their problems. There are numerous accounting software solutions accessible in Dubai, including Zohobooks, Quickbooks, Xero, Sage, Tally, Odoo, Intacct, Epicor, and others. We recognise that choosing the correct accounting software may be difficult for businesses; therefore, in this post, we have listed the top accounting software programmes that, in our considerable expertise, we have found to be reliable, as well as their benefits.
We have also identified the differentiator feature in our blog, which makes that specific software stand out among its competitors.
Zoho Books:
- Pricing:
- Zoho Books offers a free version for very small businesses, but with limited features. Therefore, very small businesses could opt for Zoho Books and obtain the benefit of zero costs for account maintenance.
- Their plans as of June 2024, are as follows:
- Free Plan (Recommended if below features are not required)
- Standard Plan – 60 AED Per month (Recommended if Vendor wise accounting is required)
- Professional Plan – 90 AED Per month (Recommended if invoice to be raised in multi-currency)
- Visit https://www.zoho.com/ae/books/pricing/ for more information.
- Features:
- The invoices to customers could be created and customised with the logo and branding. Regular customers could automate these invoices with recurring billing. Multi-currency invoicing is also available.
- Zoho Books offers a transaction approval feature. This approval mechanism is effective in maintaining the hierarchy of the finance department in an organisation and strengthening internal control. Businesses where the management and accountant are in two different cities could make use of this feature.
- This software also provides project management, where expenses could be allocated to respective projects and tracked for profitability.
- Reports:
- Trial balance, profit and loss account, balance sheet, cash flow statements, and many such reports are available. These reports could be scheduled to be sent automatically to an email address.
- Tax rates can be configured, and VAT reports are also available.
- Security:
- Zoho Books uses 256-bit SSL encryption for data transmission, ensuring that information exchanged between users and Zoho’s servers is secure.
- Differentiator:
- Zoho Books offers accurate inventory management, where businesses could keep track of inventory levels, manage stock, and get alerts for reordering. This feature provides more comprehensive solutions for businesses that require advanced inventory tracking and management capabilities.
- Zoho Books includes a client portal feature that enhances collaboration and communication with customers.
Quickbooks:
- Pricing:
- Quickbooks is available in online and desktop versions. Up to 40 users can be allowed to access Quickbooks (for its highest plan).
- Their plans as of June 2024, are as follows:
- Simple Start – AED 66 Per month (Basic features such as tracking income and expense, customer invoices, connect banking, VAT and reports for one user)
- Essentials – AED 99 Per month (Simple start + managing bills and expenses, tracking employee time, multicurrency, up to 3 users)
- Plus – AED 140 Per month (Essentials + recurring transactions, tracking inventory and project profitability, manage budgets, up to 5 users)
- Visit https://quickbooks.intuit.com/global/pricing/# for discounts and more information
- Features:
- Quickbooks offers an intuitive user interface. This is because it is designed for small and medium-scale businesses.
- Professional invoices to customers could be generated and sent via email. Such invoices could be automated for regular clients with recurring invoices.
- Project-wise profitability could be tracked and monitored.
- Online payments through credit cards, PayPal, or ACH can be accepted, and regular payments could be scheduled based on subscription.
- Different access could be given to the team members, including accountant login.
- Reports:
- Financial reports like profit and loss statements, balance sheets, and cash flow statements could be generated.
- Further, customised reports could be generated based on the requirements of the businesses.
- Tax rates could be configured to generate tax reports.
- Security:
- QuickBooks uses 128-bit SSL (Secure Sockets Layer) encryption to ensure that data transmitted between users and the QuickBooks servers is secure.
- Differentiator:
- They provide a vast ecosystem of third-party integration, including Shopify, Amazon, CRM systems, etc. This helps businesses streamline their operations across various functions.
Xero:
- Pricing:
- Xero allows unlimited users regardless of their pricing plan.
- Their plans as of June 2024, are as follows:
- Starter – 106 AED Per month (Up to 20 invoices and 5 bills, cashflow and business snapshot)
- Standard – 170 AED Per month (No limit on invoices and bills, bulk reconciliation of transactions + features of Starter)
- Premium – 230 AED Per month (Standard + Multi-currency)
- Visit https://www.xero.com/pricing-plans/ for discounts and more information
- Features:
- Professional invoices could be generated. It can also be automated for regular customers with recurring billing.
- The invoices could be tracked, sent to customers, and receive notifications when they are opened.
- Xero offers payroll management.
- Projects could be tracked to determine and monitor profitability. Project budgets could also be created.
- Reports:
- Comprehensive financial reports, including profit and loss statements, balance sheets, and cash flow statements, could be generated.
- Reports could be customised as per the requirements of businesses.
- Security:
- Xero uses industry-standard TLS encryption to protect data transmitted between users’ devices and Xero’s servers.
- Differentiator:
- Xero allows an unlimited number of users to access their accounts across all pricing plans. This makes collaboration with accountants and professionals easier. Multiple users can work concurrently on the same data, enhancing efficiency.
Benefits of Xero Bookkeeping for Modern Businesses:
Xero bookkeeping is a user-friendly, cloud-based solution that helps businesses automate invoicing, expense tracking, and financial reporting. It’s ideal for startups and SMEs looking for efficiency.
Tally Prime:
- Pricing:
- Tally Prime simplifies the daily accounting tasks such as posting journal entries, ledger management, etc.
- They offer perpetual licenses from 2400 AED
- Features:
- Tax-compliant invoices could be generated, along with ease of managing receivables and tracking outstanding payments.
- They provide multi-location inventory tracking.
- Payroll management is available, along with the integration of the attendance feature.
- They also provide multi-currency support.
- Reports:
- Customisable financial reports such as profit and loss statements, balance sheets, cash flow statements, and trial balances could be generated.
- Financial data with graphical representation and comparative analysis tools could be analyzed.
- Security:
- Tally Prime uses encryption techniques to secure data both in transit and at rest. This ensures sensitive information.
- Differentiator:
- Tally Prime is known for its robust offline capabilities, which is particularly beneficial in regions with inconsistent internet connectivity as they offer desktop versions.
- Tally Prime is renowned for its simplicity in handling complex accounting tasks.
BCL Globiz is a premium partner with leading accounting software providers, ensuring smooth implementation for both newly incorporated entities and migrations to new accounting software. For inquiries, please contact us at punith@bclglobiz.com.
