Its important to have an accounting software which is compliance to Singapore IRAS guide on accounting software so that should IRAS required to audit a particular company or have a check on the transaction listing in an accounting software, you can provide them with the IAF text file generated from the accounting software which fits their format. The text file generated from accounting software will produce the IAF text file which will show the transaction listing for them to verify if its correct.

Brands such as EZ Accounting / MYOB Singapore / Sage_Ubs accounting software / Quickbook Singapore and many more are compliance to IRAS guide on accounting software and you can obtained grant such as Isprint grant by IDA under package solutions and PIC grant which you can claim up to 60% cash payout(terms apply and subject to approval). Do visit Singapore IRAS for more information for the terms and others.

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