Malaysia Singapore Restaurant Central Kitchen Inventory and Recipe Management Software

Food Market Hub is a software designed specifically for Restaurant that has central kitchen setup. It able to provide full sets purchasing, ordering,  inventory and recipe management for central kitchen and branch. 

Through Food Market Hub, branch can place order like they purchase from E-commerce website, the order will automatically create Purchase Order to Central Kitchen and others supplier. Central kitchen can check their existing inventory balance and schedule and ship the goods to branch according to the order. Food Market Hub has shipment verification and packaging module as well to support central kitchen process to reduce problematic human error when handling inventory.

All orders able to import into various accounting system such as SQL Accounting, Quickbook accounting, Autocount accounting, QnE Accounting, UBS Accounting, Million Accounting and Master Accounting.

Contact http://foodmarkethub.com/ for more details.

Best 5 GST Ready Accounting Software in Malaysia

GST has been implemented for 5 months. We all aware that Malaysia Custom department still trying to catch up and fix some problems in the claim and submission of GST-03 form. From end user market, we have manage to identify Best 5 GST Ready Accounting Software in Malaysia.

1) SQL Accounting
This is the most popular accounting software used by Accounting firm and freelance Accountant now. Why they are popular, it's simple and easy to use. Most of the users able to pickup the software in 4 hours training which currently provided by Bifrost Tech Sdn Bhd.

2) UBS Accounting
This is the legacy accounting software that exists in Malaysia market more than 20 years. They have lot's of loyalty customers and more than 90% of the account admin clerk trained to use this software in the school.

3) Q&E Accounting
This is getting hot now as they are going for cloud based. It's not common in normal retail sector but getting popular in service industry.

4) Million Accounting
How will i say about this. It's new and cheap. Has the lowest pricing among others. User interface and stability still a question so far but if you are looking for cheapest, you can consider it.

5) Autocount Accounting 
This is great competitor to fight with SQL Accounting. Both are quite similar and has advantage over certain sector. Autocount has more steps to complete a data entry job compare to SQL, but the interface looks more attractive.

For more details, you can call up Bifrost Tech Sdn Bhd. 04-6459769

OpenERP - Free and Open Source ERP

OpenERP answers some of the most disturbing questions for companies contemplating adopting an ERP system yet can’t come to the decision as easily. Such are:

ERP Implementation takes too long
OpenERP is modular in nature and can be implemented as the need arises. Start with 2-3 modules. As your organization grows, install more modules to automate your tasks

ERP Applications are too rigid
OpenERP is designed to eliminate or minimize development and customization. The application offers:
•    Workflow designer
•    Screen designer
•    Report designer

Users are reluctant to buy in
•    Two user friendly clients: Web interface and GTK (Desktop)
•    Simplified or extended menus
•    Role based access
•    Integrated search menus

ERPs lock companies in and offer no way out
OpenERP offers two solutions for unprecedented flexibility: On-site (self hosted) or On-line (SaaS)

On-site:
•    Install on your own infrastructure
•    Allows custom developments
•    Requires maintenance through your OpenERP consultant

On-line:
•    Low cost
•    Ready to use
•    Accessible on line
•    No infrastructure is required
•    Available through OpenERP s.a or any other OpenERP SaaS partner

ERP applications are very costly.
OpenERP is extremely affordable. It is open source with no license fee

If you have any questions or need more information on implementing OpenERP in your organization, please email us at support@bifrostech.com or call us at 04-6384789. We are official Openerp partner in Malaysia.

Bifrost Tech Sdn Bhd - Malaysia Top Software Company which specialize in ERP

Malaysia GST - Is your software ready?

Penang SQL Accounting Software 

On 2015, we will officially move to the GST tax system in Malaysia.

Unfortunately, making the move to the GST tax system won’t be a snap for small businesses and a bit of paperwork will be required.

To help make the transition a little easier for businesses, here are some things that they need to know,

What GST is and how it is different from the existing sales tax and service tax.

1. Single versus multiple stage

Unlike the existing sales tax and service tax, GST is generally charged on the consumption of goods and services at every stage of the supply chain, with the tax burden ultimately borne by the end consumer. This multiple tax levels feature of GST is the fundamental change from the present single-stage sales tax and service tax levied at only one stage of the supply chain.


Penang SQL Accounting Software 

2. Goods and services subject to tax

GST operates on a negative concept - all goods and services are subject to GST unless specifically exempted. For sales tax, the same concept applies where all goods are taxable unless specifically exempted. It is anticipated that the number of exemptions under the present sales tax regime would be significantly reduced.

Service tax, on the other hand, operates on a positive concept where only services that are specifically prescribed are taxable. Under a GST regime, the opposite will apply and a much wider range of services will fall within the GST net than before. The potential of a wider tax base under a GST regime is attractive to governments, as it offers greater flexibility as a revenue measure and promises simplicity compared to the task of administering exemptions and identifying taxable services under the current sales tax and service tax respectively.

3. Tax payment and accounting periods

Time of supply is an important feature under the GST regime as it determines when one should account for GST in the GST returns. The approach used by many countries when adopting GST is that a supply is considered to have taken place at the earliest of the following three events:  the time an invoice is issued; or  the time any payment is received by the supplier; or the time a taxable supply is made.


Penang SQL Accounting Software 

The tax payment by GST registrants is worked out by deducting GST credits (input tax) from GST due (output tax) in the GST return. The GST rules differ from the existing sales tax structure where sales tax becomes due and payable when there is a sale or disposal otherwise than by sale. On the other hand, service tax is only due when payment is received, and where payment is not received, the tax is accounted for at the end of the 12-month period from the date of invoice issued. The GST concept of time of supply is therefore generally wider than the provisions in the existing sales tax and service tax and it will be important for businesses to learn to cope with the change, as there will potentially be changes to the enterprise’s cash flows under the new tax.

Bifrost partner with few accounting and audit firms such as TehEngAun & Co, Lim, Tay & Co, and Khoo Khai Hong & Co to provide professional support for business in Malaysia. Engage Bifrost today to understand how we can help to get your business ready for Malaysia GST Tax. 

Email us support@bifrostech.com or call us at 046459769 or visit us at http://www.bifostech.com/Accounting.aspx

Penang SQL Accounting Software 

Best and Popular accounting software in Malaysia

 Find out which are the best accounting software in Malaysia popularly used by the small business owners in Malaysia.   But first we will define what is an accounting software and what should be included in a basic accounting software.

What is accounting software?

Accounting software is an application software that helps you record and process your business related transactions – transactions such as sales, purchases, payments to suppliers and receipts from customers. A good accounting system should also function as an accounting information system, as well as a management information system.

Types of accounting software in Malaysia

Some accounting systems consist of a core module and several add-on optional modules. Some other accounting systems are made up of several inter-dependent modules, and are described as integrated systems.

The core modules that are necessary in order to be able to generate your financial statements are the General Ledger module, Cash Book module and the Accounts Receivable and Accounts Payable module. Optional modules that help to ease the business operations are the Sales Order module, Billings module, Purchase Requisition module, Purchase Order module, Inventory / Stock control module, Payroll module, Timesheet module, Inquiry module, Electronic payment module, and the CRM module.

In evaluating the best accounting software for your company, you need to ask yourself which modules are necessary for your business at that point of time, and also for the future.

List of Accounting software in Malaysia

Here is the list of the popular brands of accounting software Malaysia, grouped by country of origin, and listed in alphabetical order

Accounting software that originates from Malaysia

• UBS Accounting Software
• SQL Accounting software
• Bifrost Tech Accounting Software
• Q&E (QnE) Accounting software
• ICS accounting software
• Mr Accounting
• OBM Accounting software
• Smart Accounting software
• Autocount Accounting software
• First Accounting

Accounting software in Malaysia that originated from other countries

• AccPac accounting software
• Fact Accounting software
• MYOB Accounting software
• Peachtree Accounting software
• QuickBooks accounting software
• SAP Accounting software
• Tally Accounting software

Where can you buy accounting software Malaysia

The list of accounting software Malaysia above are general-purpose systems suitable for most trading and service industries.  They can be bought ‘off the shelf’ and are generally not customizable or modified in any way.  If you are operating in specific industries, you may contact certain ERP solution provider such as Bifrost Tech or YGL to customize solution for your company.

The Malaysian accounting software can be bought directly from the developers themselves, or from consultants and agents of the company.   The accounting software that originate from other countries are normally available from the authorized distributor’s office, IT stores, and also through independent agents, consultants and system integrator acting for the distributor.

Penang SQL Accounting Software 

Available ERP software in Malaysia

Tier 1: SAP , Peoplesoft , Oracle.....
Tier 2: Navision, Skala, .......
Tier 3: Bifrost Tech, Karensoft, UBS, SQL Accounting......

When talking about ERP software, most Malaysian with some ERP knowledge will come across the above ERP provider. The first 3 company, we normally position them as "tier 1", then the next 2 is "tier 2" and the last 2 is "tier 3" ( of course there are many providers in market for tier 1, 2 and 3, the above named companies are just an example)

What does it mean ?

well , tier 1 , 2 and 3 is the service scope and different market segmentation they serve. For "tier 1" provider, they normally target on Multi Nationals Corporation (MNC) with the budget of millions dollars, and "tier 2" provider target on listed companies and large organization with the budget of less than a million, and "tier 3" provider target on Small and Medium Industries (SMI) with the budget of less than RM 100,000.

I am regret to know some tier 2 providers are still unaware of the business trends, they are still concern on finding big corporation with the budget of RM 300,000 to RM 800,000. When I was talking to such providers, they normally say " SMI ? They got budget or not ? If got more that RM 300,000 then could be considered........"

They don't know the other side is saying : " Tier 2 provider? They can lower the price or not ? If they can lower the price to below RM 100,000, then I will be glad to find one" - from the SMI

Obviously, closing a deal with the budget of RM 300,000 to RM 800,000 is much more profitable compare to closing a deal with the budget of RM 100,000. Most Tier 2 providers will give many reasons why they do not go to below RM 100,000 ...... For example, company image, less profit, high overhead etc.....

We are always talking about "long-term business partnership". It sounds good. But when it come to practice, many tier 2 providers just concern on short term profit, and ignore long term benefits.

Just imagine, these SMI will keep growing, one day, they may become MNC and listed companies as well, if you are smart enough, target to the right SMI with the potential to grow big , lower the ERP software price for them to use, when they grow, they will ask for more from your ERP software - and eventually, throughout the period, your ERP software price selling to those SMI will sure exceed RM 300,000 and above.

and one more important reward - they trust you.

For tier 3 provider such as Bifrost Tech and Karensoft, they are targeting on SME with the budget lower than RM 100,000 - sometimes could be RM 50,000 . Anywhere , with that price, the SMI also cannot expect too much on features or customization. Finding a good tier 3 provider could be a challenge, and try to understand how the ERP provider develop and customize software for your business. 

Penang ERP Software Provider

Why Free Guide for Software

I'm used to work for Top 100 multinational company for more than 10 years. While in the big company, everything is control through system and process oriented. After I have a side business with my partner, discovered that in Malaysia and Singapore, even though listed companies still deal with old tools such as Excel & Word to handle their daily operation to take sales order, inventory, and etc. It was very out-of-date and pieced together of separate programs with little to no integration between them, necessitating multiple entries in multiple systems for the same order. In short, a very inefficient and human-error prone system. 

Then we used up 3 months to search among the paid & free ERP software. It's not easy to search for right software that can fit into your business. That's the time i wish someone who will write a free guide on the web and provide me a guide how to deal with all these software. Lot's of my friends also cheated by so call IT support company to ask them buy more license for some useless operation such as a windows server with multiple users license and that server only serve to store file which not need to purchase multiple users license except they required staff to remote to the server for some applications.

Hope this blog will grow slowly and help out some non-IT focus to search for usable software to improve their business.

Penang SQL Accounting Software
http://www.bifrostech.com/Accounting.aspx