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In the context of the rapidly developing digital economy, the role of accountants has undergone a significant transformation. From manual data entry and recording, accountants have now become data analysis experts, providing a comprehensive financial picture to support management in making strategic decisions. Therefore, choosing the right accounting software is no longer a purely technical decision, but has become a strategic step, determining the operational efficiency and competitiveness of businesses in the digital age.
However, the accounting software market in Vietnam is extremely diverse, from traditional solutions such as Excel to complex ERP systems for corporations. The first choice of many businesses, especially households and small and medium enterprises (SMEs), is often familiar office software tools such as Excel. Although it has advantages in terms of convenience and cost, this approach has many potential risks and significant limitations in terms of features, security and scalability. Switching to a specialized accounting software will automate processes, minimize errors, enhance data security and improve work efficiency.
The objective of this in-depth report is to provide a comprehensive and objective view of the most popular accounting software solutions on the market today. The report does not simply list the features, but also analyzes the core criteria for evaluating and comparing the leading software in detail, and especially, highlights the indispensable role of accompanying digital tools such as digital signatures. From there, the report will provide specific recommendations, helping readers who are business owners, managers and accountants make the smartest decisions based on their actual needs.
To evaluate and select accounting software, it is essential to apply a comprehensive analytical framework. The ideal software is not the one with the most features, but the solution that best suits the characteristics of the business.
One of the most common mistakes when choosing accounting software is to believe that there is a “one size fits all” solution. In reality, the size and type of business are the two biggest determinants of which software is right for you. Large systems like SAP or Oracle are designed for multinational corporations with complex financial systems and tightly coupled processes. Similarly, Bravo software is a specialized custom solution, suitable for businesses with specific needs and willing to make a large investment.
For small and medium-sized enterprises (SMEs), integrated solutions with many features and flexible costs such as MISA, FAST, Viindoo or QuickBooks are the most popular choices. These software provide the necessary modules to manage basic operations effectively.
Finally, for small businesses or micro enterprises, simple, cheap, even free solutions are the ideal starting point. Excel, although not a specialized accounting software, is still used as an effective tool for simple operations. Software such as Safebooks, Vacom or ACMan are also options worth considering for this group.
A modern accounting software does not stop at supporting core operations such as general accounting, cash management, accounts receivable, sales, purchases and fixed assets. It must be a multi-platform integrated solution that allows the automation of the entire workflow of the accountant. The big difference between an old software and a 21st century software is the ability to integrate and automate complex operations.
For example, a business operating in the manufacturing or construction sector will need software that has a special strength in calculating product costs or project costs. Conversely, for trading businesses, the ability to manage detailed inventory, control import - export - inventory, and integrate with sales software will be key factors.
An important criterion that cannot be ignored is the ability to integrate with electronic services of state agencies. Today's advanced accounting software often integrates electronic invoices, allows online tax declaration and supports operations related to social insurance. This integration helps eliminate manual steps, shortens time and ensures accuracy for end-of-period reports.
Cost is always an important factor, but it needs to be considered comprehensively. Cost is not only the initial purchase price but also includes operating costs, maintenance costs, and annual renewal fees. Software such as MISA and FAST are often priced based on the number of users and renewed annually, creating flexibility for businesses when they need to scale. In contrast, some custom solutions such as Bravo have a very high initial investment cost, which can be up to tens of thousands of USD, because they are built specifically according to customer requirements.
Platform technology is also a key factor. The difference between local data storage (On-premise), such as the MISA SME version, and cloud storage (Cloud), such as MISA AMIS and Fast Accounting Online, directly affects data flexibility and security. Cloud-based software allows users to access anytime, anywhere with just an internet connection, while ensuring high security and the ability to automatically back up data periodically.
Finally, customer support is a vital factor in the operation process. A reputable supplier must have a support team that is enthusiastic, professional and responds quickly to resolve technical problems, ensuring the system always operates smoothly.
Based on the above analysis criteria, below is a detailed review of the most popular accounting software on the Vietnamese market today.
MISA is one of the leading and most familiar names in the accounting community in Vietnam. MISA AMIS Accounting software is built on a cloud platform, allowing businesses to easily access and work anytime, anywhere. This is not just an accounting software but a comprehensive business management ecosystem.
MISA AMIS is suitable for a variety of businesses, from trade, services, manufacturing to construction, fully meeting financial and accounting operations. This software is especially strong in automation capabilities, from collecting and processing financial information to creating management reports and tax reports. MISA also stands out with its deep integration capabilities, helping businesses create, manage and store electronic invoices right on the software, and automatically compare documents with the ledger to detect and correct errors. To help customers experience the superior features, MISA offers a 15-day free trial program with full modules without any limitations.
FAST is a long-standing accounting application, launched in 1997 and has more than 16,500 customers. The most outstanding strength of FAST Accounting is the ability to solve management accounting problems and calculate product and project costs in depth, especially suitable for manufacturing and construction enterprises.
FAST Accounting has fast processing speed, an optimized interface for ease of use and the ability to customize according to the specific requirements of the business. Similar to MISA, FAST also has an online version called Fast Accounting Online (FAO), using a cloud platform, helping users not need to install and can access data anytime, anywhere. A big plus is that FAST Accounting Online also integrates free electronic invoices, bringing outstanding benefits to small and medium-sized businesses.
While MISA and FAST target the large market, BRAVO focuses on the enterprise and large corporation segment. BRAVO's competitive advantage is its ability to customize according to the specific needs of each enterprise. The software's functions include accounting for cash, sales, purchases, processing end-of-period transactions, managing tax reports, creating and printing invoices, and automatically accounting for periodic transactions.
However, because the software is built specifically for each customer, the cost of using BRAVO is often very high, ranging from a few thousand to tens of thousands of USD, making it not a suitable choice for small and medium-sized businesses. BRAVO is considered a large investment, only really effective when the business is complex and needs a comprehensive, flexible management solution.
For businesses looking for a simple, effective, and low-cost solution to migrate from Excel, software such as Viindoo, QuickBooks, Safebooks, Vacom, and ACMan are worth considering. In particular, Viindoo Accounting offers a lifetime free package (Viindoo ONE APP), helping startups easily access and experience the features of professional software without worrying about costs.
Research shows that Excel is still a popular tool for small businesses because it is familiar, flexible and free. It allows you to create lists and perform basic operations easily. However, using Excel has serious disadvantages. It is not capable of deep automation, is prone to errors when entering and processing large amounts of data, and lacks high connectivity and security. With these limitations, Excel should only be considered a temporary solution, a starting point for businesses with simple accounting operations. As the business grows, switching to specialized software is an inevitable step to ensure the accuracy, efficiency and safety of the financial system.
A modern accounting software can only be most effective when integrated with other essential digital tools. In which, digital signature plays the most important role, making electronic transactions legal and safe.
According to Clause 6, Article 3 of Decree 130/2018/ND-CP, a digital signature is defined as a form of electronic signature created using an asymmetric cryptographic system. This signature helps the recipient to accurately identify the signer and ensure the integrity of the document content from the time it is signed.
Regarding legal value, Article 8 of this Decree clearly stipulates: when the law requires a document to have a signature or seal, this requirement is considered satisfied if the data message is signed with a digital signature and the signature is guaranteed to be secure. This affirms that digital signatures have the same legal value as handwritten signatures and seals in traditional paper documents. To be recognized, the digital signature must be created during the validity of the digital certificate, and the secret key must be under the control of the signer only at the time of signing.
The integration of digital signatures has completely changed the way the accounting industry operates. Instead of having to print, sign, stamp, and deliver documents, accountants can perform the entire process online, paperless. This not only saves time and costs but also increases security, minimizing the risk of document loss.
Practical applications of digital signatures in accounting include:
Electronic tax declaration and payment: This is one of the most popular and mandatory applications for businesses. Users can use digital signatures to declare taxes on the General Department of Taxation Portal, sign and submit declarations and business license fees quickly and safely.
Issuing electronic invoices: Digital signatures are used to sign and issue electronic invoices, ensuring validity according to the provisions of law.
Social insurance declaration and customs procedures: Digital signature helps businesses carry out public administrative procedures easily and effectively anywhere, anytime.
Contract signing and banking transactions: Labor contracts, economic contracts and online financial transactions can be digitally signed, ensuring authenticity and non-repudiation.
To illustrate, the tax declaration process on the General Department of Taxation Portal takes place in just a few steps: Plug the USB Token into the computer, access the website http://thuedientu.gdt.gov.vn/ , enter the tax code and information, select "Read CKS", enter the PIN, and click "Sign and send" to complete.
The digital signature market is diverse in both technology and suppliers. Each type of digital signature is designed to serve a specific need:
USB Token Digital Signature: This is a traditional type of signature, stored in a compact hardware device. It is highly appreciated for its safety, security and ease of use, suitable for individuals and small and medium-sized businesses.
HSM digital signature: Stored on a dedicated hardware device and integrated into the server system. This type of signature allows signing a large number of documents at high speed (1200 times/second), suitable for large enterprises, banks and financial institutions.
SmartCard digital signature: Integrated directly into the phone SIM. This type is convenient when mobile digital signature is needed but has disadvantages in terms of security and only works within the network coverage area.
Remote Signature: The latest technology, no hardware required. The secret key is stored on the provider's cloud platform, allowing users to sign digitally anytime, anywhere via web or mobile applications with OTP code or biometric authentication.
Digital signature providers in Vietnam must be licensed by the Ministry of Information and Communications under Decree 130/2018/ND-CP, with strict financial, human resources and technical requirements. The leading reputable providers today include:
VNPT-CA: The first unit to be re-licensed under Decree 130/2018/ND-CP.
FPT-CA: Outstanding for achieving the highest level of security in FIPS 140-2 standard and experience in deploying for government agencies.
Viettel-CA: Has large infrastructure, highly specialized engineers and large market share.
FastCA: Provides a variety of digital signatures from Token, HSM, SmartCard to remote, meeting many different needs.
| Criteria | MISA AMIS | FAST Accounting | BRAVO | VIINDOO | Excel |
| Ideal subject | Multi-sector SMEs need a comprehensive ecosystem | Manufacturing and construction businesses need specialized management. | Corporations, general companies, and enterprises with complex operations | SME, business household, newly established enterprise | Business households, micro-enterprises with simple operations |
| Outstanding features | Cloud ecosystem, comprehensive integration, business automation | Management accounting, costing, fast processing speed | Customizable to meet complex processes | Free lifetime package, smart interface | Familiar, flexible, customizable to individual needs |
| Advantage | Modern interface, easy to use, free trial available | In-depth pricing, free e-invoice integration | Tailor-made solutions to meet specific needs | Low cost (free package available), complies with Vietnamese accounting standards | Free, no installation required, diverse tools |
| Disadvantages | Costs can be high when expanding users | Costs more than other popular software | Very high investment cost (several thousand to tens of thousands of USD) | Basic features, not specialized for large enterprises | Error-prone, security risk, lack of coherence |
Choosing accounting software is a strategic decision and should be based on a balance between current needs, budget, and future growth vision. Here are some specific recommendations for each scenario:
For newly established businesses and enterprises: At this stage, resources are limited, so using Excel is a reasonable start to get acquainted with basic operations. However, it is necessary to invest immediately in a digital signature to be able to declare taxes electronically and other public administrative procedures, ensuring legality from the beginning. When the scale and number of transactions increase, switching to a professional software like Viindoo with a free package or a cheap online solution is a necessary step to avoid the risks of Excel.
For growing small and medium-sized enterprises: This is the ideal stage to switch to a comprehensive solution such as MISA AMIS or FAST Accounting Online. Both offer powerful features and high integration capabilities. The choice between MISA and FAST should be based on the field of operation: if the enterprise operates in the field of manufacturing or construction, FAST with its strength in cost calculation will be the top priority; if it is in trade, services or needs a comprehensive management ecosystem, MISA will be the right choice.
For corporations and groups: With complex business processes and high customization needs, "packaged" solutions may not be enough. BRAVO, with its deep customization capabilities, will be the optimal choice, ensuring that the financial system is specifically designed to suit internal processes.
In short, in the digital age, choosing the right accounting software and accompanying digital tools such as digital signatures is a key factor to ensure the sustainable development of a business. Accounting software is no longer just a data entry tool but a financial management platform, while digital signatures are electronic seals that give online transactions legal value.
The final decision should be made after carefully considering three key factors: the size and type of business, the features and operations required, and the appropriate budget. Whether starting with Excel and a digital signature, upgrading to a comprehensive solution like MISA or FAST, or investing in a customized system like BRAVO, each decision is an important step in the digital transformation journey of the business.
