What are accounting software solutions commonly used for?

Accounting software is typically used for managing financial transactions, creating statutory reports, and providing insights for business decision-making. Eleven is cloud accounting software for accounting and multi-subsidiary firms, which allows to streamline accounting for a volume of clients without compromising on performance and profit margins.

How secure is my data with Eleven?

Each of your clients' general ledgers is a separate database, easy to restore and back up. To protect the data, Eleven uses advanced encryption. We securely store all the information and documents on certified AWS servers around the globe.

Is there any long-term contract?

Yes, you can opt for a 2 or 3-year contract with a fixed-price guarantee. Long-term contracts are available for both per-entity and per-accountant licences.

How does the free trial work?

You get full access to all of the accounting software’s features for 30 days, free of charge and without commitment. You can do the trial on sample (mock) data or migrate one or two of your client entities. Data migration is on us. You'll also have an onboarding training and a dedicated support chat to communicate with the team throughout the trial process.

What is your refund policy?.

If you change your mind within your first month of paid service, we offer a full refund.

How do I cancel my subscription?.

You can cancel your Eleven's accounting software subscription easily using the billing portal or by contacting our support team at support@runeleven.com. Make sure to contact us 30 days before the termination date.

Can I cancel my subscription but still keep my data?

Absolutely. Your data remains yours even after you cancel your subscription - you can export it any time in the .CSV format in a couple of clicks.

How to Choose Cloud Accounting Software for Pro-Practice

There is a great abundance of cloud accounting software available. Choosing the right one for your professional practice can be a tiresome and bewildering task. In this article, we’ll explain how you can go about choosing the right cloud accounting software that matches your business requirements.

01 | Professional users are power users

As someone who owns or works in a professional accounting firm, you’ll want a cloud-based accounting software built for power users like you. Some of the must-have features and functionalities you’ll need as a professional accountant in Singapore include a multi-company interface, support for multiple currencies and bank reconciliation – just to name a few.

You’ll also want to pay attention to the functionality scope and pricing model of the software you’re evaluating, as well as look into how much efficiency and support it offers. As we’ve mentioned before in our article about comparing accounting software, it’s not about the number of features you should be looking at. Instead, your focus should be on which features will grant you a better payoff in the long run.

02 | What do you actually need?

Feature-rich accounting software with hundreds of add-on apps are usually also quite expensive. Due to the expansive number of features, they are also typically hard to master. It’s best to think about your clients and their unique requirements before committing to a costly purchase which you may not fully utilise.

For professional accounting practices, you’ll want to make sure these functionalities are included:

Multi-company interface
Support for multiple currencies
General ledger
Accounts Payable, Accounts Receivable
Bank reconciliations
Balance Sheets
Income and cash flow reports
Custom reports and business intelligence
Fixed asset management
Automated bank flows
Document management
Tax engine

*An example of the core accounting and accounting advisory features of* *Eleven Software for Accounting Firms*

You’ll also want to confirm that the cloud-based accounting software you’re eyeing is scalable.

Scalability will help you ensure that the application you’re using can efficiently support accounting workloads for all business sizes, so that you can grow your business with your clients. Cloud accounting software that’s scalable will be fast and nimble no matter how many transactions you’re handling. It will also allow you to manage outside collaborators easily, so you can lean on external support to get the job done when needed.

Accounting Software With No Feature Limits

It's always annoying to bump into paywalled features or transaction limits when your clients start to grow. With Eleven, you'll have all your accounting features available as standard.

👉 See Eleven in action

04 | Pricing model

Cloud accounting software operates on a Software-As-A-Service or SaaS model, which means that your access to the software is enabled through a recurring subscription. As long as you can go online, you’ll be able to access the mobile and web-based versions of the same software, which is stored on external servers.

Many cloud accounting software applications operate on a tiered basis, which means that users on lower tiers face issues such as locked features and transaction limits. There’s no telling when a core feature will suddenly become an add-on that is no longer covered by your basic subscription fee.

To avoid these added expenses, we recommend that you look for cloud-based accounting software that charges a flat fee or one that has a pay-per-accountant pricing model.

05 | Efficiency & support

Staring down a deadline or juggling a large volume of reports? You’ll want whatever software you’re using to be responsive and quick, so you can keep your productivity high. If your cloud-based accounting software can run at a decent speed no matter what your transaction volume looks like, you’re looking at a winner.

Another question you should ask yourself is: Does this software provide customer support via phone and is it available in Singapore’s time zone?

Customer support is invaluable as it’ll save you time down the road when your clients have questions about how to execute certain functions while using your chosen accounting application.

06 | Wrapping up

When you’re looking for cloud accounting software that works for accounting professionals, look no further than Eleven. Our SaaS solutions are designed for accounting firms that are eager to shake up the world of accounting with high-quality bookkeeping and advisory services. Process high volume of transactions without any hiccups, balance your books in multiple currencies and watch your productivity soar with Eleven’s breakthrough features that are available for a flat fee. No paywalls included!

Do you have questions about how Eleven works? Book a free demo to see Eleven in action or give us a call.