Best accounting software for businesses in Singapore (2025): We reviewed the top 10 for their features, fees, and scalability
Shermaine Tan
Manager, Growth Marketing
Key takeaways
Accounting software automates key finance processes, but it’s important to choose the right one based on your business size, industry, and needs.
To save time and cut down on manual work, choose accounting software that integrates with the tools you already use.
Pair accounting software with Airwallex for real-time visibility and control over spend. You can instantly sync transactions, pay overseas teams and suppliers in their home currencies, and get a full audit trail for every approval and reimbursement – all on a single platform.
It’s the end of the month, and your finance team is getting buried in spreadsheets. They’re chasing receipts, checking invoices, and catching errors that derail reconciliation. It’s a slow, manual process — and for 37% of businesses in Singapore, it’s still a major challenge.1
That’s where accounting software comes in to automate invoicing, expense tracking, and reporting. In this article, we examine the 10 best accounting software in Singapore, and explore how integrating them with Airwallex lets you manage transfers, payments and reconciliation from a single platform.
What is accounting software?
Accounting software helps businesses record and manage finances digitally. It automates everyday tasks like invoicing, expense tracking, payroll, and financial reporting, reducing the need for manual work. In Singapore, adoption is growing fast — one in three small businesses already using accounting software to run their books.2
There’s also a more advanced category of accounting software known as Enterprise Resource Planning (ERP) systems. ERP systems go beyond accounting to centralise key business functions – from finance and HR to supply chain and project management – in one system. They’re typically used by larger companies that need deeper visibility and control across multiple departments.
What problems can accounting software solve for businesses?
Manual finance work drains resources and time. Accounting software automatically captures transactions and reconciles them in the background, keeping your records accurate without constant oversight. With admin tasks taken care of, finance teams gain the clarity to make better decisions and business owners get back time to focus on growth.
Not sure if accounting software is right for your business? These four benefits might change your mind:
Accounting software frees up valuable time by taking over repetitive accounting tasks, so you and your team can focus on running the business.
It gives you real-time visibility into your financial data, helping you make faster, more confident decisions.
Built-in security features protect sensitive financial records, reducing the risk of fraud or data breaches.
Many platforms integrate with payroll, eCommerce, and CRM systems, so your entire workflow is connected and easier to manage.
Invoicing and billing
Most accounting software lets you generate and send invoices directly from the platform. You can track which invoices are paid, overdue, or pending, so cash flow stays visible and predictable. Automated invoicing and billing reduces the risk of missed payments and keeps billing organised.
Expense tracking and management
Instead of storing piles of receipts or manually updating spreadsheets, accounting software records expenses as they happen. Expense management tools categorise spending and match costs to the right accounts, helping finance teams monitor spend more accurately.
Online payments
Selling online gets complex fast when you’re dealing with multiple sales channels, payment fees, and varying tax rules across markets. Accounting software can simplify these processes by consolidating eCommerce payment data into a central system. It also handles the differences in payment method fees and taxes for accurate record-keeping and tax reconciliation. As a result, online sales flow directly into your accounts without creating extra work for your finance team.
Tax compliance
Tax filing doesn’t have to be a scramble at year-end. Accounting software keeps a running record of taxable income and deductible expenses, while applying the correct GST or sales tax rules for each market you operate in. If the software is registered with the Inland Revenue Authority of Singapore’s Accounting Software Register Plus (IRAS ASR+), GST rules are automatically applied and trackable income is tracked.3 The result is simpler compliance, timely tax filings, and fewer headaches as your business expands in Singapore and across borders.
Reporting & analytics
Accounting software turns financial reports into actionable insights. You can generate reports on cash flow, profit and loss, and overall performance with just a few clicks. These insights help you make more informed business decisions and plan ahead with confidence.
Connect Airwallex to your favourite accounting software
How to choose the right accounting software for my business?
Choosing a solution isn’t about picking the most popular accounting software — it’s about finding the one that fits your business needs. Use this process to guide your decision-making.
Assess your business needs
Start by looking at the size of your business, the complexity of your financial transactions, and whether you’d need extras like payroll or inventory tracking. A SME won’t have the same needs as a medium-sized manufacturer. Getting this right helps narrow your options early.
Match software features to those needs
Once you know what matters, check if the software covers those features — whether that’s invoicing, reporting, or GST compliance. If you deal with overseas suppliers or earn in foreign currencies, you’ll also want multi-currency support. The key is to focus on features that fit your operations and needs as your business scales.
Evaluate cost, scalability, and ease of use
Compare not just subscription prices, but also the cost of add-ons, upgrades, or implementation. Think about whether the software can grow with you as your transactions increase. Ease of use is critical — complex ERP systems often require training and a shift in mindset before your team can use them effectively.
Choose software that integrates with tools you already use
Your accounting software should connect smoothly with your bank accounts or financial platform. Integration reduces manual entry and keeps data consistent across systems. The more connected your setup, the more accurate your financial reporting will be.
With accounting integrations into Xero, QuickBooks, NetSuite, Odoo, and Jaz, Airwallex takes the manual work out of reconciliation and gives you more hours to focus on growth.
What are the 10 best accounting software for businesses?
Here’s our comparison of the 10 most popular accounting software in Singapore – including their pricing, features, and scalability.
Features | Xero 4 | QuickBooks 5 | ABSS 6 | AutoCount 7 | Jaz AI 8 | Zoho Books 9 | Odoo 10 | Oracle NetSuite 11 | SAP Business One 12 | Microsoft Dynamics 36513 |
|---|---|---|---|---|---|---|---|---|---|---|
Type | Accounting software | Accounting software | Accounting software | Accounting software | Accounting software | Accounting software | ERP | ERP | ERP | ERP |
Configuration | Cloud | Cloud | Cloud or on-premise | Cloud or desktop | Cloud | Cloud | Cloud or on-premise | Cloud or on-premise | Cloud or on-premise | Cloud or on-premise |
Pricing | From S$39/month for Starter Plan | From S$8.18/month for Simple Start Plan | From S$349/year for cloud solution14
| From S$210/24 months for Lite plan (cloud) 15 | From S$0/month 16
| From S$0/month 17
| From S$0/month for Accounting app only | Custom pricing | Custom pricing | From S$90 (US$70) per user/month for Essentials plan18 |
Global business management | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ✅ | ✅ | ✅ |
CRM | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ✅ | ✅ | ✅ | ✅ |
Supply chain & production management | ❌ | ❌ | ❌ | ❌ | ❌ | ❌ | ✅ | ✅ | ✅ | ✅ |
POS system | ❌ | ❌ | ❌ | ✅ | ❌ | ❌ | ✅ Available in Sales app | ✅ | ✅ | ✅ |
Invoicing | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
Multi-currency accounting | ✅ Available on Premium plan for S$88/month19 | ✅ Available on Essentials plan and up, from S$21.26/month20
| ✅ Available on Premier Connect Plus for S$499/year
| ✅ Available on Plus plan and up, from S$70/month21
| ✅ Available on all plans, from S$0/month | ✅ Available on Standard plan and up, from S$18/month
| ✅ | ✅ | ✅ | ✅ Available on Essentials plan and up, from S$90 (US$70) per user/month |
Expense tracking | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
Payroll | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ | ✅ |
Inventory management | ❌ | ✅ | ✅ | ✅ | ✅ | ✅ | ❌ | ✅ | ✅ | ✅ |
IRAS ASR+ registered | ✅ | ✅ | ✅ | ✅ | ❌ | ✅ | ✅ | ✅ | ✅ | ✅ |
Airwallex integration | ✅ | ✅ | ❌ | ❌ | ✅ 22 | ❌ | ✅ | ✅ | ❌ | ❌ |
Airwallex connects directly with leading accounting platforms like Xero, NetSuite, Sage, Odoo, and QuickBooks, so you can automatically sync, reconcile, and categorise transactions. That means fewer errors, faster month-end closes, and real-time visibility over spend without juggling multiple tools.
Unlock more from Xero and QuickBooks with Airwallex.
Xero
Xero is a cloud-based accounting software known for its easy-to-use interface, IRAS ASR+ certification, and direct connections with major local banks. It covers the essentials – from invoicing and expense tracking to GST filing – in a simple, cloud-based setup.
When integrated with Airwallex, Xero becomes a centralised platform for real-time financial management. Transactions automatically flow from your Business Account to Xero, giving you real-time visibility over cash flow in multiple currencies. You can even receive invoice payments via the Airwallex dashboard. It’s the easiest way to stay on top of monthly spend and manage cash flow on a single platform.
Pros | Cons |
|---|---|
✅ Easy to use and GST-compliant ✅ Automated reconciliation via Airwallex integration ✅ Broad third-party app marketplace | ❌ Multi-currency support and project tracking only available at added cost ❌ Separate subscriptions needed for multiple entities |
QuickBooks
QuickBooks Online is a cloud-based accounting software targeting SMEs, with an Advanced edition for larger firms with complex needs. You get a clear picture of cash flow through live dashboards, bank feeds, and automated forecasting tools.
When connected to Airwallex, card spend, transfers, and FX payments sync automatically, removing the need for manual uploads. Invoices and reimbursements flow into your books instantly, giving a real-time view of spend across accounts.
Pros | Cons |
|---|---|
✅ Complete set of accounting and GST reporting tools ✅ Automated reconciliation via Airwallex integration ✅ Automated backup features | ❌ Higher costs with additional users or features ❌ Limited industry-specific solutions ❌ No desktop version |
ABSS (formerly MYOB Singapore)
ABSS is an entry-level accounting software for SMEs that need basic bookkeeping and payroll. Both cloud-based and on-premise versions are available, covering invoicing, expense tracking, and reporting. Higher-tier plans come with features like multi-currency accounting, inventory management, and sales dashboards at additional cost.
While ABSS covers the essentials, its limited connectivity and lack of automation make it less efficient for growing teams managing multiple accounts or currencies.
Pros | Cons |
|---|---|
✅ Simple set up ✅ Affordable pricing ✅ Tiered plans for different business sizes | ❌ Limited integrations with other financial tools ❌ Payroll module charged separately ❌ Bank integrations available on cloud only and limited to a few local banks |
AutoCount
AutoCount is a Malaysia-based accounting platform that offers both desktop and cloud versions for Singapore businesses. Its desktop product, AutoCount Accounting 2.0, offers features for trading, services, and project-based work, but requires higher upfront licensing costs and a local server. If you prefer less IT overhead, AutoCount Cloud Accounting is easier to access and more affordable than its on-premise counterpart.
However, AutoCount’s ecosystem remains largely local, with its payroll modules catering only to Malaysian entities. Businesses operating in Singapore or those planning to scale will find the setup limiting.
Pros | Cons |
|---|---|
✅ Flexibility between desktop or cloud setup ✅ Industry-specific modules available | ❌ High upfront costs and maintenance ❌ Limited regional scalability |
Jaz
Jaz is an AI-powered cloud accounting platform built for small businesses looking to simplify bookkeeping. It uses machine learning to categorise spend, link invoices to bank activity, and reconcile receipts in real-time. Jaz also connects to Airwallex, so bank feeds and payment data flow into your ledger automatically. Its free plan gets you started with unlimited transactions, though advanced AI tools and integrations sit behind higher-tier subscriptions.
Pros | Cons |
|---|---|
✅ Simple, intuitive setup ✅ Automated reconciliation via Airwallex integration | ❌ Not listed on IRAS ASR+ ❌ Advanced features come at additional cost |
Zoho Books
Zoho Books is a cloud-based accounting platform covering invoicing, expenses, project billing, inventory and GST. It also comes with automation tools designed to cut down repetitive work, and a mobile app that lets you capture receipts, approve expnses, and manage approvals on the go. For businesses already using Zoho tools like CRM and Inventory, everything connects seamlessly within the same ecosystem.
Integrating Airwallex extends that connectivity beyond Zoho’s product suite. Payments and transfers sync automatically, and multi-currency transactions reconcile in real time. Businesses can track spend, manage collection, and close books faster – all from a single platform.
✅ Pros | ❌ Cons |
|---|---|
✅ Connects with other Zoho apps like CRM and Inventory ✅ Integrates with payment gateways and third-party applications ✅ Automated reconciliation via Airwallex integration | ❌ Advanced features come at additional cost ❌ Payroll module not available in Singapore |
Odoo
Odoo offers a modular ERP suite with a free accounting app that handles daily bookkeeping and reporting. It automates invoices and supports multi-currency accounting with daily rate updates to keep your books accurate across markets. Odoo also connects directly with Airwallex so your transactions flow straight into your Odoo account. When connected with Airwallex Checkout, customer payments are automatically synced to the software, simplifying reconciliation.
Pros | Cons |
|---|---|
✅ Accounting software is free to use, with unlimited users ✅ Fully integrated with other Odoo apps ✅ Flexible and scalable | ❌ Advanced features and integrations require paid Enterprise edition ❌ May require technical resources to configure the app |
Oracle NetSuite
NetSuite is a cloud-based ERP platform built for enterprises with regional or international operations. It covers accounting essentials like invoicing, expense management, and financial reporting, while supporting advanced needs such as multi-entity management and multi-currency transactions. For Singapore businesses, NetSuite also includes GST filing features that simplify compliance across markets.
When connected with Airwallex, finance teams can manage global payments and FX directly within NetSuite. Cross-border transactions reconcile automatically, giving you complete oversight over global cash flow.
Pros | Cons |
|---|---|
✅ Offers strong multi-currency and multi-entity support ✅ Robust integrations with eCommerce, logistics, POS, and platforms like Airwallex ✅ Supports GST compliance in Singapore | ❌ Requires technical expertise and ongoing developer support ❌ High setup and maintenance costs ❌ Complex suite of features |
SAP Business One
SAP Business One brings SAP’s enterprise capabilities to small and medium-sized businesses. It covers core accounting processes while also supporting financials, operations, project management, and HR.
The trade-off is setup complexity. Implementation requires an SAP partner to configure and customise the software, which adds cost and time. For most SMEs, its complexity, licensing model, and maintenance demands make it a heavier lift than necessary, especially if you only need efficient accounting and reporting.
Pros | Cons |
|---|---|
✅ Supports wider business functions like HR, operations, and project management ✅ Easier path to adapting SAP industry tools later on ✅ SAP implementation partners are widely available in Singapore | ❌ Complex implementation process ❌ More expensive to set up and maintain ❌ Staff training required |
Microsoft Dynamics 365
Microsoft Dynamics 365 combines accounting, CRM, and supply-chain management in one ERP platform. It integrates naturally with tools like Excel and Power BI and supports multi-currency accounting and Singapore’s GST reporting system.
Despite its breadth, Dynamics 365 often proves more complex than most businesses need. Implementation takes time, customisation requires technical expertise, and costs rise quickly with each new module or user. On the other hand, enterprises with industry-specific accounting needs may find the system insufficient for its needs and end up having to switch to a more specialised system.
Pros | Cons |
|---|---|
✅ Integrates accounting with sales, supply chain, and CRM platforms ✅ Syncs with Microsoft ecosystem tools ✅ Supports GST compliance in Singapore | ❌ Requires technical expertise and ongoing developer support ❌ High setup and ongoing costs ❌ Complex suite of features |
What are the different types of accounting software?
Not all accounting software is deployed the same way. Depending on your business size, budget, and workflow, you may prefer a cloud, desktop, or hybrid solution. Here’s how each configuration works — and what to weigh up before deciding.
Cloud accounting software
Cloud accounting software runs entirely online. It’s accessible from any device and updates in real time, letting teams collaborate and scale without the complexity or high upfront costs that come with on-premise systems.
Pros | Cons |
|---|---|
✅ Accessible from anywhere with an internet connection ✅ Real-time updates and automatic backups across devices ✅ Multi-user access for easy collaboration ✅ Wide range of integrations with business tools | ❌ Requires internet access ❌ Data security depends on provider safeguards |
Desktop accounting software
Desktop software is installed directly on a single computer or network. It’s typically used by businesses that want complete control over their data or operate with limited internet access. However, desktop accounting software is also becoming less common as more providers move to cloud accounting software. QuickBooks discontinued its desktop products in 2024, though the enterprise version remains available.23
Pros | Cons |
|---|---|
✅ Keeps data in-house for businesses worried about cloud storage ✅ Works without internet access ✅ Reliable for businesses with fixed, local operations | ❌ End user is fully responsible for data backups and security ❌ Billed as monthly or annual subscriptions ❌ Increasingly obsolete |
On-premise accounting software
On-premise software is installed and hosted on a company’s own servers, providing full control over data and security. It’s best suited for large enterprises that need full control over their systems and are willing to invest in the infrastructure to support it.
Pros | Cons |
|---|---|
✅ Full control over data, security, and system customisation ✅ No reliance on third-party cloud providers ✅ Can be tailored to specific compliance or industry requirements | ❌ Typically designed for enterprise-level companies ❌ Requires hardware and ongoing IT maintenance ❌ High upfront and operational costs |
Hybrid accounting software
Hybrid software like NetSuite combines elements of both cloud and desktop or on-premise accounting systems. You install the core software on your computer or servers, but features like data backup, reporting, or multi-user access run through the cloud. This setup is ideal for teams that need offline access on top of automated syncing and backups.
Pros | Cons |
|---|---|
✅ Provides both offline access and cloud features ✅ Allows remote collaboration while maintaining local control ✅ Cloud-based backups add protection against data loss ✅ More affordable compared to on-premise solutions | ❌ More complex to set up, maintain, and manage compared to cloud-only software |
Integrate business accounting software using Airwallex Expense Management
Accounting software does more than track your books — it automates invoicing, reconciliation, and reporting. But on its own, it offers only part of the picture. Connecting it with Airwallex brings everything together, so transactions, payments, and FX activity sync automatically. Your books stay up to date in real time, giving you an accurate view of revenue and expenses without the manual effort.
Airwallex connects to leading accounting software in three ways:
Bank feeds: Automatically sync every Airwallex transaction into your general ledger, with currency balances updated every hour.
Expenses & reimbursements: Capture receipts, approve claims, and send reimbursements directly through Airwallex, with transactions automatically recorded with the correct label or category.
Bill Pay (two-way): Pay suppliers directly from Airwallex and see bills automatically marked as paid once cleared.
Here’s a snapshot of how Airwallex connects to the top accounting software in Singapore:
| Bank feed | Expenses and reimbursements | Bill Pay (two-way) |
|---|---|---|---|
Xero | ✅ | ✅ | ✅ |
QuickBooks Online | ✅ | ✅ | ✅ |
Netsuite | ✅ | ✅ | ✅ |
Zoho Books | ✅ | ❌ | ❌ |
Odoo | ✅ | ❌ | ❌ |
Jaz | ✅ | ❌ | ❌ |
Businesses in Singapore are already seeing the difference. Igloo Insure used to spend 10 hours a week manually approving, paying, and reconciling invoices. After switching to Airwallex, invoice approvals now take minutes, and payments sync straight into NetSuite.
Airwallex isn’t just for bookkeeping. It’s a complete financial platform that gives you access to 23+ multi-currency accounts with local bank details, corporate cards, and low-cost global transfers. You can even accept payments globally through Airwallex’s payment gateway and payment links. It’s the business account that grows with you — flexible, scalable, and built to match every stage of your business.
How to integrate your accounting software with Airwallex
The integration process may vary depending on your accounting software. Here’s a rough guide on getting started:
Log into your Airwallex account and navigate to “Connections”
Select your accounting software and click “Get Started”
You’ll be taken to your accounting software.
Detailed instructions can be found in our Connections FAQs.
Reconciling expenses with other accounting software
If your accounting software isn't currently integrated with Airwallex, you can still reconcile your expenses using our custom accounting data importer.
We have a detailed guide on how to import accounting data from any software into Airwallex.
Stay competitive with modern financial solutions.
Frequently asked questions (FAQs)
Is cloud-based accounting software safe?
Yes. Cloud-based accounting software uses encryption, automated backups, and regular updates to keep your financial records secure. Like any system, it’s important to choose a trusted provider and set strong access controls.
Can accounting software help with tax compliance?
Yes, accounting software can help with tax compliance if it is is IRAS-registered24 and includes GST filing features.24 If you have overseas entities, you’ll also need to check whether the software supports tax filings in markets where you do business.
What types of businesses benefit the most from using accounting software?
All businesses can benefit from using accounting software. Whether you’re a sole proprietor or a large enterprise, accounting software can save you time on manual data entry and reconciliation. It also improves accuracy and gives better visibility into finances at every stage of growth.
How do small businesses reconcile payments efficiently?
Effective reconciliation links bank activity to invoices, bills, and card spend, keeping your books accurate.. Pair accounting software with bank feeds and payouts data to reduce manual entry, catch errors early, and keep cash flow visibility up to date.
Here are the key steps businsesses can take to stay on top of accounts:
Enable real-time bank feeds
Use integrated bill pay and card controls
Set a consistent weekly reconciliation routine
Auto-match receipts to invoices and payouts to bills
Apply bank rules for recurring items
Integrated fintech platforms like Airwallex sync transactions directly into Xero/QuickBooks, so your books stay accurate without the manual work.
Sources:
https://www.channelnewsasia.com/advertorial/solving-accountancys-talent-problem-through-digital-transformation-3573696
https://www.xero.com/sg/media-releases/money-matters-singapore-cash-flow-report/
https://www.iras.gov.sg/digital-collaboration/for-software-developers/accounting-tax-software/iras-accounting-software-register-plus
https://www.xero.com/sg/
https://quickbooks.intuit.com/sg/#
https://sg.abssasia.com/
https://www.autocountsoft.com.sg/
https://www.jaz.ai/
https://www.zoho.com/en-sg/books/
https://www.odoo.com/app/accounting
https://www.netsuite.com.sg/portal/sg/products/erp.shtml
https://www.sap.com/products/erp/business-one.html
https://www.microsoft.com/en-sg/dynamics-365/products/business-central
https://sg.abssasia.com/pricing
https://www.autocountsoft.com.sg/pro-cloud-acc.html#price
https://www.jaz.ai/pricing
https://www.zoho.com/en-sg/books/pricing/
https://www.microsoft.com/en-sg/dynamics-365/products/business-central#Pricing
https://www.xero.com/sg/pricing-plans/
https://quickbooks.intuit.com/global/pricing/#
https://www.autocountsoft.com.sg/pro-cloud-acc.html#price
https://help.jaz.ai/en/articles/11405402-airwallex
https://quickbooks.intuit.com/learn-support/en-us/other-questions/quickbooks-desktop-pro-2024/00/1478183
https://www.iras.gov.sg/digital-collaboration/for-software-developers/accounting-tax-software/iras-accounting-software-register-plus/asr-plus-listing
All comparisons and information reflect Airwallex’s own research using public documentation as of 27 October, 2025, and have not been independently validated. Product features, pricing and other details are subject to change. Airwallex does not guarantee the continued accuracy of this information and is not responsible for any inaccuracies that may arise from such changes. This publication is not intended to be relied on for the purpose of making a decision about a financial product.
If you would like to request an update of the content in this publication, feel free to contact us at [email protected]. Airwallex (Singapore) Pte. Ltd. is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore. Airwallex Capital (Singapore) Pte. Ltd. is licensed as a Capital Markets Services License holder under the Securities and Futures Act 2001 by the Monetary Authority of Singapore (License No. CMS101830). The MAS has not reviewed this information. For more details, you can refer to the MAS website here.
Shermaine Tan
Manager, Growth Marketing
Shermaine spearheads the development and execution of content strategy for businesses in Singapore and the SEA region at Airwallex. Leveraging her extensive experience in eCommerce, digital payment solutions, business banking, and the cross-border industry, she provides invaluable insights that guide businesses through the complexities of global commerce. Specialising in crafting relevant and engaging content that resonates with business owners, her work is designed to drive growth and innovation within the fintech and business economy space.
Posted in:
AccountingShare
- What is accounting software?
- What problems can accounting software solve for businesses?
- How to choose the right accounting software for my business?
- What are the 10 best accounting software for businesses?
- What are the different types of accounting software?
- Integrate business accounting software using Airwallex Expense Management
