Majority of constitutive models for soils are formulated within the infinitesimal strain framework, which may be not accurate for large strain analyses such as bearing capacity and penetration problems. These models can be extended for finite strain formulation in the updated Lagrangian finite element framework, based on the multiplicative decomposition of the deformation gradients and objective stress rate. The MIT-S1 model has been recently integrated into ABAQUS with both infinitesimal and finite strain formulations, using the explicit substepping scheme with error control. These two formulations are compared in both single element tests and typical boundary value problems at large deformations. This paper demonstrates that the strain formulation can have significant effect on the computed load-displacement response and bearing capacity of surface footing on sand.