BAC 3110 - ACCOUNTING

INFORMATION SYSTEM 2
Name : Phoon Pui Yan
Z
Matric Number : QIUP-201604-000791
Background - Financio
 Financio, a product of ABSS, brings small
business accounting automation to Malaysia
and other countries, redefining how small
business owners handle accounting and tax
tasks, bringing accounting software to the next
level.

 Financio is a cloud based accounting &

invoicing software tailor-made for Malaysian
small businesses who is looking to streamline
their accounting & GST, sale & purchase
process with the help of automation and a
Competitors

Features Xero QuickBooks Financio

Online
Pricing for the top US$40/month for US$31/month US$7.95/month
tier version Premuim Version for Online Plus for Premium
(Highest version)

Language English English English, Malay,

Chinese

Payroll function Supported through Supported Coming Soon

HReasily through
Gpayroll
Competitors
Multi-Currency Supported Supported Supported
Go mobile Apps Stores and Apps Stores and Web Browser
google plays google plays

Support Contact Form or Email Contact Contact

Form,Email or Form,Email or
Livechat Livechat

Rights or user More user roles are Is available in Is available in

available such as sales or purchase sales or
payroll, bank purchase and
transaction, sales, transaction
purchase and etc.
Price of the software
Forever Free
(suitable for startups)
FREE Forever
Unlimited Users
Track Sales (10 invoices/mth)
Track Purchases (10 bills/mth)
Track Income & Expenses
Limited Financial Reports (3)
No Malaysia GST Support
Multi Currencies Support
No Inventory Tracking
Financio Connect
20MB File Storage
Standard Support (2 days)
Daily Backup
Premium
(suitable for growing businesses)
RM32.95/M
RM329.50/yr (17% off)
Unlimited Users
Track Sales (Unlimited)
Track Purchases (Unlimited)
Track Income & Expenses
Full Financial Reports (12)
Malaysia GST Support
Multi Currencies Support
Inventory Tracking
Financio Connect
20GB File Storage
Priority Support (2 hours)
Real-Time + Daily Backup (Up to 7 days)
Ease of Implementation

 Cloud based accounting software – Financio is

hosted on the centralized servers. Users can
just open their web browsers and start using
the application without installing anything on
their PCs.

 After creating your account, everything's set

up so you can get started right away. Access it
anywhere, any time
Ease of use

 The user interface is designed to be simple

and easy to use as it is targeted at non-
accountants such as business owners,
manager.

 EVERYTHING UNDER 1 ROOF

Ability to fit to business
 Financio has announced the latest updates
version 1.3.18 - is now fully equipped to assist
you with SST filling.

 Financio also provide the following reports:

•Balance Sheet •Profit & Loss
•Trial Balance • General Ledger
Summary
•General Ledger Detail •Account
Transactions
•Aged Receivables •Aged Payable
Functionality
 Accounting Automation
Just issue invoices, record payments and expenses, Financio will
do the tedious ones such as generating accounting entries and
records for you.

 E-Invoicing
Create professional looking invoices and have them delivered to
your customers electronically via email in just a few clicks.

 Multilingual Interface
Financio comes in three languages! To make your accounting
even easier, you can choose to use Financio in Chinese, Bahasa
Melayu or English.
Functionality

 Collaborate
Send and receive messages as well as share files related to the
transaction with your customers or suppliers, regardless they are
using Financio or not.

 Financio Connect
Connect your business with other businesses on Financio.
Transactions, messages, files and updates can be sent back and
forth effortlessly.

 Unlimited Users
Invite your partners, accountants, bookkeepers, sales personnel
and assign appropriate permission for them to reduce your
Growth potential

 Financio, signed a strategic agreement with

Microsoft to empower micro SMEs in Malaysia
and accelerate their digital transformation
journey.

 Microsoft will offer Office 365 as a

complimentary service for Financio’s current
customers to enhance competitiveness and
modernise their business operations.
Level of support provided by
vendor
 Financio provide two tiers of support depending on the
package you are subscribed to.

Free: Send a support request using the form provided below, our
team will get back to you with a solution via Email within 1 working
day.

Premium: Get more responsive reply from our team members via
Chat / Email within 1 working hour using the in-app Intercom (The
chat icon on bottom left) after you logged into Financio.

 Getting Instant Help

By download Financio complete user guide or browse through
Financio knowledge base articles for instant answers
Vendor’s track record of
performance
 Financio is a product of ABSS. ABSS, formerly
known as MYOB, is an award winning
accounting and business management
solution for Asian businesses.

 ABSS striving to be the leading SME business

solutions provider across Asia, with over
350,000 customers, 90+ staff, offices in
Singapore and Malaysia and a wide network of
hundreds of qualified Certified Partners and
Resellers throughout the region
Advantages and Disadvantages

Advantages Disadvantages
Flexibility and Accessibility Security

Data storage Reliance on Internet

Automated paperwork Cost

Keep track of your finances Data transfer cost

Conclusion
Recommendation :
 Security - Financio may use multi-level data encryption,
numerous firewalls and are diligent in staying current with
legislation surrounding data security.

 Reliance on internet - Financio may provide features of office

software (also called office applications or desktop applications)
in which internet is optional.

 Cost - Financio may give a special discount for fisrt-time user

and data transfer. Financio should provide more features so that
the user will feel that it is value for money.