Best Accounting Software for Small Businesses in Singapore

Singapore has consistently ranked among the best countries in the world for doing business. With its pro-business environment and strong regulatory frameworks, it's no surprise that entrepreneurship thrives here. However, running a successful small business in Singapore also means staying compliant with local tax regulations, tracking cash flow efficiently, and preparing for future growth. That’s where accounting software becomes essential. Whether you're a retail shop in Orchard Road, a tech startup in One-North, or an online seller, the right accounting software can save time, reduce errors, and keep your financials in check. Here’s a comprehensive guide to the best accounting software for small businesses in Singapore.

1. Xero

Xero is one of the most popular accounting software platforms among small businesses in Singapore, and for good reason. It is IRAS-compliant, supports GST filing, and allows multi-currency transactions—ideal for companies trading internationally. Xero’s intuitive dashboard makes it easy to track expenses, reconcile bank statements, and generate real-time financial reports. It integrates seamlessly with DBS, OCBC, and UOB bank feeds, allowing automatic transaction imports. Moreover, it supports integration with e-commerce platforms like Shopify and Lazada, making it a strong choice for online businesses. With local training partners and customer support in Asia, Xero provides both functionality and peace of mind.

2. QuickBooks Online

QuickBooks Online is another trusted name in accounting software and is widely used in Singapore. It’s cloud-based, easy to use, and supports GST, which is essential for businesses that need to file taxes with IRAS. QuickBooks offers features like invoicing, bank reconciliation, payroll add-ons, and financial reporting. Its mobile app is excellent for entrepreneurs who need access to their accounts on the go. It also supports multi-currency transactions, a must for businesses with overseas suppliers or clients. QuickBooks' scalability means it suits both startups and growing SMEs, while its integrations with PayPal, Square, and WooCommerce make it a flexible tool for a variety of industries.

3. Zoho Books

Zoho Books has gained popularity in Singapore thanks to its affordability, automation features, and integration with the full Zoho suite of business apps. It is GST-compliant and comes equipped with automated tax calculation, audit trails, and IRAS-approved invoice formats. Zoho Books offers powerful features such as recurring billing, time tracking, bank reconciliation, and inventory management. It also provides a client portal and project-based billing—perfect for service-oriented businesses. Its local pricing and customer support make it a compelling option for small businesses that want a scalable, end-to-end solution without breaking the bank.

4. Sage Business Cloud Accounting

Sage Business Cloud Accounting is a reliable option for small businesses that need robust core accounting functions. It offers invoicing, cash flow management, automated bank feeds, and compliance with Singapore’s tax regulations. With its simple interface, Sage is suitable for non-accountants and small business owners who want a hands-on view of their finances. It also includes support for multi-user access, making it suitable for teams. While Sage doesn’t have the most modern UI, its reputation for reliability and financial control makes it a trusted tool, especially for service providers and consultancies.

5. Financio by ABSS

Financio is built specifically for the Singaporean and Malaysian market, making it one of the best localized solutions for small businesses. It’s fully GST-compliant, comes pre-loaded with IRAS tax codes, and supports direct filing of GST returns. Financio automates accounting tasks like invoicing, expense tracking, and bank reconciliation. It also supports CPF and payroll modules, helping businesses handle employee contributions and government compliance with ease. One standout feature is its bilingual interface, supporting both English and Simplified Chinese, which can be helpful for local SMEs. Its affordability and government-friendly features make Financio a top pick for Singapore-based businesses.

6. ccMonet AI

ccMonet AI is an advanced, AI-driven accounting solution that is quickly gaining traction among Singapore’s digitally-forward SMEs. Designed to automate and simplify financial operations, ccMonet AI automatically categorizes expenses, detects anomalies, and generates real-time financial summaries. Its machine learning engine improves with usage, making bookkeeping more accurate over time. For Singapore-based businesses, ccMonet AI offers compliance-ready financial reports and GST features, along with seamless integration with local banks and cloud services. It’s particularly suitable for companies that want to scale efficiently, reduce manual input, and receive intelligent insights into their cash flow. Its AI-driven alerts and recommendations make it a modern choice for data-driven decision makers.

7. MYOB

MYOB is a long-established name in the Asia-Pacific region, and it still holds relevance for SMEs in Singapore. The platform is GST-compliant and comes with tools for payroll processing, employee records, and tax filing. MYOB’s strengths lie in its stability and detailed reporting capabilities. While it may not have the sleek interface of newer platforms, it is robust, dependable, and often recommended by traditional accountants. For SMEs that require local support and industry-specific features, especially in manufacturing or retail, MYOB is a dependable option that bridges the gap between on-premise and cloud-based accounting.

8. Autocount

Autocount is another strong option for Singaporean SMEs, particularly those in retail, F&B, and trading sectors. It offers a modular design where you can choose the features you need—accounting, POS, inventory, payroll, and more. Autocount is compliant with Singapore’s GST framework and is known for its on-premise installation flexibility. Although it’s more traditional in deployment compared to cloud-based solutions, many local businesses prefer the security and customization it offers. For companies that require tight integration between sales, stock, and finance, Autocount is a practical choice.

9. Deskera

Deskera is a Singapore-based SaaS company that offers a fully integrated platform for accounting, payroll, and HR. As a homegrown brand, it understands the local compliance landscape, making it easy for businesses to manage GST, CPF, and MOM regulations. Deskera Books allows for real-time financial tracking, invoice generation, and automated tax calculations. Its cloud-native design means you can access it from any device, and it integrates well with Singapore banks and payment platforms. Deskera’s all-in-one nature makes it a compelling choice for SMEs that want to streamline not only accounting but also HR and payroll functions in one system.

10. Netsuite (Oracle) – For High-Growth SMEs

While Oracle NetSuite may not be the first choice for brand-new startups due to its higher cost, it is a perfect solution for Singapore-based SMEs looking to scale rapidly or operate across multiple regions. NetSuite is a full ERP solution that includes advanced accounting, inventory, CRM, and e-commerce features. It is built for global compliance, supports multi-currency and multi-language functionality, and offers extensive customization. For businesses with complex supply chains or those expanding into overseas markets, NetSuite provides enterprise-grade tools that can future-proof operations.

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Final Thoughts

Singapore’s business-friendly environment is complemented by a range of accounting software options designed to support small businesses at every stage. Whether you're a freelancer looking for simplicity, a retailer needing inventory integration, or a fast-scaling startup demanding automation and insights, there is a solution tailored for you. For localized compliance and affordability, options like Financio and Zoho Books shine. For automation and AI-driven analytics, ccMonet AI is a standout. Meanwhile, global players like Xero, QuickBooks, and NetSuite offer scalability and international readiness. The key is to choose a platform that matches your business model, growth plans, and compliance requirements in Singapore’s dynamic economy.