Although it’s not difficult to register for a Business Registration (BR) company here in Hong Kong, handling a bunch of complicated taxation issues, a pile of compliance papers and legal documents is definitely a headache for many business owners here.
If you don’t do it right, you can only imagine a bunch of IRD issues coming your way and that’s the last thing you want.
So, how do you streamline it and make sure you’ve met the legal requirements?
Don’t worry, that’s not a question for you. Cause we already got an answer sorted out.
Here’s the 8 best accounting software for your business to make your business registration smoother in Hong Kong.
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:
It is supported by…
Just like AutoMi, ABSS is also free for 7 days. After that, the price would go up for a bit:
But the difference is that the model that they use is one-off.
Just like AutoMi, it also offers multi-currencies features with maximum 5 contacts and 6 custom fields.
Multi-warehouse is also one of their main features.
Compared with AutoMi, ABSS definitely has fewer language options.
Currently, they only offer versions in English and Traditional Chinese.
For Hong Kong accounting software, this is definitely the most popular one.
It’s great for SMEs that are trying to grow.
The model used for this is also a one-off. However, it doesn’t have a free trial either.
But there are two packages you can go for:
Now, this is the entry package for your company.
It’s good for you to easily manage cash flow and finances online.
The bank transactions can also be reconciled automatically. VAT can also be calculated and submitted for you.
Compared to the above one, this account is more advanced.
You get cash flow forecasts and you can also create notes like delivery and credit one.
You can also add multiple users, making it more convenient.
Again, just like ABSS, the software and accounting support also depends on the distributor.
It offers single currency with only a single warehouse, so the function is definitely fewer than the other two.
For the interface, it only offers English, so it might be tough for companies that have an international profile of employees.
But there’s a pitfall though – you can’t print images and you only have 5 custom fields. The maximum address you can get is just 20.
Xero is probably another SME-friendly accounting software.
The New Zealand software company puts lots of focus on its functionality, an interface that’s accessible for everyone, unlike the Sage software, which is designed mostly just for professional accountants.
It is connected to three of the major banks in Hong Kong like DBS, Hang Seng Bank, as well as HSBC, making transactions more commonly accessible in this way.
Xero has a recurring model just the ones mentioned above.
It also has auto-integration that links to your bank accounts with built-in compliance features with tax regulations like Stripe, PayPal, and more.
They also offer multi-currencies accounts, but that’s an exclusive feature only featured in the premium account.
Just like Xero, Quickbooks is another go-to accounting software commonly used by SMEs here in Hong Kong.
Started in 2002, the U.S. claims itself as an all-in-one cloud-based software.
Tasks like project-tracking and bill management can be easily automated within the software itself, so it saves you all the extra manual work.
There’s also incorporation work you can do with it like invoicing, tax-filing, profits and loss reports generation, and more.
Aside from that, you can also start a 30-day free trial and go from there.
If your business involves customers from countries all around the world, you can also opt for a multi-currency account.
But then the downside is that it is a single warehouse system and that you have to sell before you buy.
Don’t want to deal with accounting work? Don’t worry, we’ve got you covered.
Here in Air Corporate, we provide a series of Company Secretary work to make your business registration easier for you.
No more in-house secretary, sign up here to try your first company secretary service for your business.
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