7 best accounting software for small businesses in Singapore (2026)

Key takeaways:

• The right accounting software depends on your business stage, GST status, need for multi-currency features, and how much support you need from your accountant.

• If you're GST-registered, check that your accounting software supports Singapore GST reporting and the relevant InvoiceNow requirements before choosing a plan.

• If you manage overseas payments, multi-currency funds or company spending, Airwallex connects these activities to your accounting software and reduces manual reconciliation.

Choosing accounting software for a small business in Singapore isn't just about finding the cheapest plan.

You also need to consider whether the software can handle Singapore GST requirements, InvoiceNow, multi-currency transactions and the way you work with your accountant.

This guide compares seven accounting software options for small businesses, sole traders and freelancers in Singapore in 2026.

For a broader comparison (that’s not specific to small businesses), read our guide to the best accounting software in Singapore instead.

7 best accounting software for small business in Singapore

Here's a quick overview of the 7 accounting software options most used by small businesses, sole traders, and freelancers in Singapore in 2026:

This information is based on publicly available information accessed on 1 Oct 2026. Information reflects Airwallex's own research and has not been independently verified.

1. Xero: Best for growing small teams that want to scale on cloud

Xero is a strong fit for small businesses that expect their accounting needs to grow over time.

Its cloud-based platform lets business owners, employees, and accountants work from the same financial records, while its large third-party app ecosystem makes it easy to add specialised tools as needed. Xero also has an established accountant and bookkeeper network in Singapore.

For Singapore businesses, Xero supports local GST workflows and InvoiceNow, and eligible businesses can access PSG support through pre-approved vendors.

Key features:

• Singapore GST and tax reporting

• InvoiceNow e-invoicing

• Automatic bank feeds and reconciliation

• Invoicing, bills, and purchase orders

• Multi-currency accounting

• 1,000+ third-party app integrations

• Native Airwallex integration

Information in this section is based on Xero’s official website as of 1 Oct 2026.

2. QuickBooks Online: Best for small businesses already familiar with Intuit

QuickBooks Online is a good fit for small businesses and freelancers that want accounting, invoicing, expenses, and reporting in one cloud platform. Its broad app ecosystem and established accountant network also make it practical for businesses that expect to add integrations or professional support as they grow.

For Singapore businesses, QuickBooks supports GST workflows and now has a native InvoiceNow experience built with Fonoa, although full IMDA accreditation is still pending. It also offers AI-powered features for tasks such as financial analysis and workflow automation.

It's particularly suited to small teams that want a familiar general-purpose accounting platform rather than software built around a specific industry.

Key features:

• GST tracking and reporting

• InvoiceNow e-invoicing and GST InvoiceNow reporting

• Automatic bank feeds and reconciliation

• Invoicing and expense tracking

• Multi-currency accounting

• Inventory management on eligible plans

• Native Airwallex integration for syncing transactions and expenses

Information in this section is based on QuickBooks’ official website as of 1 Oct 2026.

3. Zoho Books: Best for micro businesses on the Zoho ecosystem

Zoho Books is part of the wider Zoho suite, which includes CRM, Inventory, Expenses, and Payroll. That makes it particularly useful for small businesses already using Zoho, since financial data can flow between the different products without relying on separate systems.

It's also a good option for very small businesses looking to keep software costs low, with a free plan for eligible businesses and relatively accessible paid tiers.

Singapore-specific GST and e-invoicing support make it more suitable for local businesses than many international low-cost accounting tools.

Key features:

• Singapore GST F5 reporting

• PEPPOL e-invoicing and InvoiceNow support

• Multi-currency accounting

• Bank feeds and reconciliation

• Inventory management

• Automated recurring invoices and payment reminders

• Integrations across the wider Zoho ecosystem

Information in this section is based on Zoho’s official website as of 1 Oct 2026.

4. ABSS: Best for Singapore SMEs that want established accounting software with local compliance

ABSS has a long history serving SMEs in Singapore and across Asia, with accounting products that combine traditional accounting workflows with newer cloud-connected features.

Its Singapore products are particularly focused on local compliance, making it a practical choice for businesses that want familiar accounting software without giving up access to newer e-invoicing and cloud features.

It's particularly suited to small and medium-sized businesses that need Singapore GST and InvoiceNow support, while still wanting features such as inventory, multi-currency accounting, and payroll integration.

Key features:

• Singapore GST reporting and compliance

• InvoiceNow and GST InvoiceNow support

• AI Scan for capturing bills and receipts

• Multi-currency accounting

• Inventory management

• Multiple-company and multi-user support

• Financio Payroll integration

Information in this section is based on ABSS’s official website as of 1 Oct 2026.

5. AutoCount: Best for inventory-heavy trading and manufacturing SMEs

AutoCount is a long-established accounting software provider in Singapore, with products aimed at SMEs that need more than basic bookkeeping.

It's particularly well suited to trading, retail, distribution, and manufacturing businesses where inventory and purchasing are central to day-to-day operations.

Unlike simpler accounting platforms, AutoCount puts more emphasis on operational accounting, so it's a good fit for businesses that need accounting software to work alongside their stock and purchasing processes.

Key features:

• Singapore GST accounting and reporting

• InvoiceNow e-invoicing

• Inventory and stock management

• Purchase orders and supplier management

• Bill of materials and manufacturing support

• Multi-currency accounting

• Cloud and desktop accounting options

Information in this section is based on AutoCount’s official website as of 1 Oct 2026.

6. Jaz: Best for small Singapore businesses that want AI-first accounting

Jaz is a Singapore-built accounting platform designed around automation and AI, making it a good fit for small businesses that want to reduce manual bookkeeping.

It combines accounting, invoicing, GST, inventory, and financial reporting in one platform, with local Singapore requirements built into the product.

It's particularly suited to early-stage businesses that want a modern accounting interface and automated workflows without moving to a larger accounting ecosystem.

Key features:

• Singapore GST reporting

• InvoiceNow e-invoicing

• AI-assisted reconciliation and transaction categorisation

• Automated invoicing and payment tracking

• Multi-currency accounting

• Inventory management

• Financial reporting and dashboards

Information in this section is based on Jaz’s official website as of 1 Oct 2026.

7. Financio: Best for Singapore and Malaysia SMEs that want local compliance built in

Financio is a cloud accounting platform developed for small and medium-sized businesses in Singapore and Malaysia.

Its focus on local tax and e-invoicing requirements makes it particularly relevant to businesses operating in either market, especially those that want accounting and compliance workflows in one system.

It's a good fit for Singapore businesses that want straightforward accounting software with local GST and InvoiceNow support, without the broader ecosystem of a platform such as Xero or QuickBooks.

Key features:

• Singapore GST F5 reporting

• InvoiceNow and PEPPOL e-invoicing

• Direct GST and InvoiceNow submission to IRAS

• AI receipt scanning and transaction categorisation

• Multi-currency accounting

• Inventory management

• Bank reconciliation and financial reporting

Information in this section is based on Financio’s official website as of 1 Oct 2026.

How to choose accounting software as a small business in Singapore

The right accounting software depends on your business size, tax obligations and how you operate. Here are the main things to look at before choosing a platform.

Your business stage and structure

If you're just starting out, a free or entry-level plan may be enough. As you grow, look for features such as multi-user access, role permissions, bank feeds and integrations. Also check user limits before committing to a plan.

Whether you're GST-registered

If you're GST-registered, your accounting software should support Singapore GST reporting and, increasingly, InvoiceNow.

GST registration is generally required once your taxable turnover exceeds S$1 million in the past 12 months, or is expected to exceed S$1 million in the next 12 months. If you're approaching the threshold, it makes sense to choose software that can handle GST from the start.

InvoiceNow support

InvoiceNow is becoming an important consideration for Singapore businesses. New voluntary GST registrants from 1 April 2026 must submit invoice data to IRAS through InvoiceNow, with the requirement extending progressively to other GST-registered businesses from 2028.

If you're choosing software now, check that it's an IMDA-accredited InvoiceNow-Ready Solution or can connect to InvoiceNow through an accredited provider.

You should also check whether the software supports GST InvoiceNow submission to IRAS, rather than just sending and receiving e-invoices.

PSG eligibility

The Productivity Solutions Grant (PSG) can help eligible Singapore businesses offset the cost of adopting pre-approved software. Eligibility depends on factors such as where your business is registered and operates, and the specific solution and grant conditions.

If PSG support matters to you, check the current GoBusiness Solution Directory rather than relying on the software provider's marketing claims.

Multi-currency and overseas payments

If you sell overseas, pay foreign suppliers or hold revenue in other currencies, check both the availability and plan tier of multi-currency features.

It's also worth considering how your accounting software works with your business banking and payment setup. For example, Airwallex can connect with your accounting software so payments made through Airwallex and currency conversions are automatically recorded in your accounts.

Accountant compatibility

If you work with an external accountant, ask which accounting platforms they already use. Choosing a system they're familiar with can make bookkeeping, month-end work and year-end reporting easier.

Keep your payments and accounting records in sync with Airwallex

Your accounting software records your finances, but it isn't where all your financial activity happens. Payments, supplier bills, business cards and currency conversions often sit in separate tools, creating manual reconciliation work for your team.

That’s where Airwallex comes in. Airwallex connects these financial activities to your accounting software, so payments, card transactions and currency conversions can flow into Xero, QuickBooks Online, NetSuite, Sage or Odoo automatically.

Bank transactions synced to your books

Airwallex Global Accounts activity can feed into Xero, QuickBooks Online, NetSuite, and Sage. Payments received, payments made, transfers and currency conversions can flow into your accounting software automatically.

Card transactions with accounting data

Airwallex Expenses can sync approved card expenses with transaction details, receipts and accounting information. You can import data such as your chart of accounts, tracking categories and tax rates, then code expenses in Airwallex before they sync to your accounting software.

Supplier payments linked to bills

When you pay a supplier through Airwallex Bill Pay, payment information can sync back to your accounting software alongside the bill. This makes it easier to match payments with the invoices they're settling and keep your accounts up to date.

One setup for multi-currency transactions

Airwallex supports receiving, holding and converting multiple currencies. Related wallet transactions can sync to your accounting software so your books reflect activity recorded in Airwallex.

Frequently asked questions (FAQs)

What is the best accounting software for small business in Singapore?

The best accounting software for small business in Singapore depends on your stage and structure. Xero and QuickBooks Online are the most widely-used options for growing small teams, while Jaz and Zoho Books offer genuine free tiers for sole traders and very early-stage businesses. If you're close to GST registration, prioritise tools that are IMDA-accredited for InvoiceNow.

What's the cheapest accounting software for small businesses in Singapore?

Zoho Books and Jaz offer free plans for eligible small businesses, making them among the lowest-cost options in Singapore. The right choice depends on which features you need, as free plans typically have limits on users, transactions or e-invoicing. If you're GST-registered or need InvoiceNow, check whether those features are included in the free plan before choosing.

Is there free accounting software for small businesses in Singapore?

Yes. Zoho Books and Jaz offer free accounting plans for eligible small businesses in Singapore. These can cover basic bookkeeping and invoicing, but features such as GST reporting, InvoiceNow and multi-currency may require a paid plan. Check the plan limits before choosing a free option, especially if your business is growing.

Do small businesses in Singapore need accounting software that handles GST?

If your business is GST-registered, your accounting software should support Singapore GST reporting and help you keep accurate GST records. If you're not GST-registered, basic accounting software may be sufficient, although choosing a platform with GST support can make it easier to manage if you register later.

What does the InvoiceNow rollout mean for new businesses?

From 1 April 2026, new voluntary GST registrants must submit invoice data to IRAS through InvoiceNow. If you're starting a business and expect to register for GST, it's worth choosing accounting software that supports InvoiceNow and GST InvoiceNow submission from the start. The requirement will extend to other GST-registered businesses progressively from 2028 to 2031.

Can I connect my accounting software to my business account?

Yes, most cloud accounting software supports direct bank feeds from major banks and finance platforms. Airwallex Global Accounts feed into Xero, QuickBooks Online, NetSuite, Sage, and Odoo, so your inflows, outflows, and FX conversions sync to your books automatically.

Sources:

1.  https://www.xero.com/sg/pricing/

2.  https://quickbooks.intuit.com/sg/pricing/

3.  https://www.zoho.com/en-sg/books/pricing/

4.  https://www.waveapps.com/pricing

5.  https://www.freshbooks.com/pricing

6.  https://www.jaz.ai/pricing

7.  https://financio.co/sg/pricing

8.  https://www.imda.gov.sg/how-we-can-help/nationwide-e-invoicing-framework

9. https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/basics-of-gst/invoicing-price-display-and-record-keeping/adopting-invoicenow-for-your-business

10.  https://www.gobusiness.gov.sg/productivity-solutions-grant/