10 best accounting software in Singapore (2026)

Key takeaways:

• Choosing the right accounting software in Singapore depends on your business size, industry, and compliance needs.

• Cloud tools suit teams that work remotely or with external accountants. Desktop and hybrid options give you tighter control over data, and often fit businesses with in-house IT or complex inventory.

• Pair your accounting software with Airwallex for multi-currency accounts, corporate cards, and overseas bill payments — and sync every transaction back to Xero, QuickBooks, or NetSuite.

The right accounting software in Singapore can save your finance team days of manual work each month.

This guide compares 10 accounting software options used by Singapore businesses in 2026, including Xero, QuickBooks Online, ABSS, Autocount, Zoho Books, FreshBooks, Jaz, Financio, Wave Accounting, and Sage. For each, we compare pricing, features, GST and InvoiceNow readiness, and PSG eligibility.

Whether you're a growing SME, a multi-entity group, or somewhere in between, this guide will help you find the right accounting software.

10 best accounting software in Singapore

Here’s a quick overview of the 10 accounting software options most commonly used by Singapore businesses in 2026:

The information in this table has been reviewed to be accurate as of 18 May 2026.

1. Xero

Xero is a cloud-based accounting platform widely used by Singapore SMEs and the accountants who serve them. It handles invoicing, bank reconciliation, bill management, GST reporting, and real-time financial reports in one workspace.

Multi-currency support sits on the Premium plan, which makes Xero a strong fit for businesses with overseas customers or suppliers¹. Xero is also IMDA-accredited as an InvoiceNow solution provider, so you can send and receive e-invoices through the nationwide network¹¹.

For more information, read our Xero accounting software review.

The information in this table has been reviewed to be accurate as of 18 May 2026.

2. QuickBooks Online

QuickBooks Online is Intuit's cloud accounting product, used widely by Singapore small businesses and freelancers. It covers invoicing, expense tracking, bank reconciliation, GST tracking, and financial reporting in one workspace.

QuickBooks Online plans start from S$15.50/month for Simple Start, with higher tiers adding multi-user access, inventory, and multi-currency². InvoiceNow support is delivered through Intuit's IMDA-accredited reseller partners¹¹.

The information in this table has been reviewed to be accurate as of 18 May 2026.

3. ABSS Accounting

ABSS (formerly used by many long-standing Singapore accounting practices) is a hybrid accounting platform available as both an on-premise install and a cloud-subscription product called ABSS Connect. It suits Singapore SMEs that want strong inventory and multi-currency control, with the option to keep data on local machines.

ABSS Accounting Connect starts from S$349/year (around S$29/month), and ABSS Premier Connect adds multi-currency and advanced inventory from S$499/year³. ABSS Connect is IMDA-accredited for InvoiceNow and is PSG-eligible¹¹.

The information in this table has been reviewed to be accurate as of 18 May 2026.

4. AutoCount

AutoCount is a Malaysia-and-Singapore-focused accounting platform with strong roots in inventory, distribution, and ERP-style workflows. It comes in both cloud (AutoCount Cloud Accounting) and desktop (AutoCount Accounting) versions, so you can choose how you deploy.

AutoCount Cloud Accounting starts from S$35/month on the Lite plan, with higher tiers unlocking multi-currency, advanced inventory, and more users⁴. AutoCount is IMDA-accredited for InvoiceNow¹¹. PSG funding of up to 50% is available for the desktop product (AutoCount Accounting), not the cloud version⁴.

The information in this table has been reviewed to be accurate as of 18 May 2026.

5. Zoho Books

Zoho Books is the accounting product in the wider Zoho business suite, which includes CRM, Inventory, Expenses, and Payroll. It's a strong fit for Singapore businesses already on Zoho, or those that want a free plan to start with.

Zoho Books offers a S$0/month Free plan for businesses under the revenue threshold, with paid plans running from Standard upward⁵. PEPPOL e-invoicing — the network underpinning Singapore's InvoiceNow — is supported from the Standard plan and above⁵.

The information in this table has been reviewed to be accurate as of 18 May 2026.

6. FreshBooks

FreshBooks is a cloud accounting tool built for service-based businesses, freelancers, and small agencies. Its strengths sit in time tracking, invoicing, expense tracking, and the client portal — not in SG-specific compliance.

FreshBooks pricing starts from US$21/month on the Lite plan, billed in US dollars rather than SGD⁶. It does not currently support Singapore GST F5 reporting, InvoiceNow, or PSG funding, so it’s not the best fit for Singapore businesses with local compliance needs.

The information in this table has been reviewed to be accurate as of 18 May 2026.

7. Jaz

Jaz is a Singapore-built, AI-first accounting platform aimed at SMEs that want a lightweight cloud setup with strong automation. It covers core ledgers, invoicing, bank reconciliation, GST reporting, multi-currency, and inventory — with a free tier to get started.

Jaz pricing starts at S$0/month on the Free plan, with paid tiers adding higher transaction volumes and automation⁷.

The information in this table has been reviewed to be accurate as of 18 May 2026.

8. Financio

Financio is a Singapore-and-Malaysia-focused cloud accounting platform with built-in GST InvoiceNow submission to IRAS. It targets SMEs that want straightforward IRAS-compliant workflows without complex ERP overhead.

Financio pricing starts from S$20/month on the Essentials plan, which includes GST submission and AI receipt scanning⁸. Its biggest differentiator is built-in IRAS submission for both GST F5 and InvoiceNow, removing the need for a separate filing tool⁸.

The information in this table has been reviewed to be accurate as of 18 May 2026.

9. Wave Accounting

Wave is a free, cloud accounting tool aimed at freelancers and very small service businesses in the US and Canada. It covers invoicing, basic bookkeeping, and mobile receipt capture, with paid add-ons for payroll and advisor services. Wave's Starter plan is free at US$0/month, with paid Pro tiers available in USD⁹.

The catch for Singapore businesses: Wave is built around US and Canadian tax, doesn't support SGD or GST F5, isn't InvoiceNow-ready, and isn't PSG-eligible — so it only makes sense for freelancers who invoice in USD and have no GST exposure.

The information in this table has been reviewed to be accurate as of 18 May 2026.

10. Sage Business Cloud Accounting

Sage Business Cloud Accounting is the cloud version of the long-established Sage platform. It covers invoicing, bank feeds, GST reporting, multi-currency, and inventory, with deeper financial management products available higher up the Sage range.

Sage Business Cloud Accounting pricing starts from S$11.50/month for the entry plan, scaling up for businesses needing more users or modules¹⁰. Sage is widely used by Singapore accountants for clients with more complex financial reporting needs, though it isn't currently PSG-eligible.

The information in this table has been reviewed to be accurate as of 18 May 2026.

Types of accounting software

Not all accounting software works the same way. The right configuration depends on how your team works, where your data lives, and how much control you want over your setup. Here's how the three main types compare.

Type 1: Cloud-based accounting software

Cloud-based tools run in your web browser and store data on the provider's servers. You and your accountant can log in from anywhere, on any device, and see the same up-to-date data.

This is the dominant model in Singapore today. Xero, QuickBooks Online, Zoho Books, Jaz, Financio, and Sage Business Cloud Accounting all fit here. Cloud tools usually include automatic updates, bank feed integrations, and built-in support for InvoiceNow and GST reporting.

Best for: businesses that want remote access, real-time collaboration with accountants, and minimal IT overhead.

Type 2: Desktop or on-premise accounting software

Desktop tools are installed on a local computer or server, with data stored on your own hardware. Updates are usually manual, and access is limited to the device or network the software sits on.

This setup suits businesses that want full control over their data, work offline often, or have specific data-residency requirements. ABSS Accounting (on-premise) and AutoCount Accounting (desktop) are the two main options used in Singapore.

Best for: businesses with in-house IT, strict data control needs, or workflows that don't depend on remote access.

Type 3: Hybrid accounting software

Hybrid tools blend cloud and desktop. You might run the core software on a local machine but sync data to the cloud, or use a cloud-subscription version of a traditionally desktop product.

ABSS Connect and AutoCount Cloud Accounting both fit this pattern. They give you the familiarity of an established desktop platform with the flexibility of cloud access.

Best for: businesses that want cloud convenience without fully leaving an established desktop setup.

How to choose the right accounting software in Singapore

The right accounting software depends on more than price and feature count. In Singapore, you also need to weigh local compliance, grant eligibility, and how well the tool plays with the rest of your finance stack. Here are the criteria worth weighing before you commit:

Your business size and stage

Match the software to where your business is today, not where you hope to be in five years.

Sole traders and very small teams often do fine with a free or low-cost cloud tool. Growing SMEs typically need multi-user access, role permissions, and stronger reporting.

Multi-entity groups and businesses with overseas operations usually need multi-currency, consolidation, and more advanced inventory controls.

InvoiceNow readiness

This is the biggest compliance change for Singapore accounting software in 2026.

Under the GST InvoiceNow Requirement, all new voluntary GST registrants from 1 April 2026 must transmit invoice data directly to IRAS through the InvoiceNow network¹². The mandate then expands progressively to existing GST-registered businesses between 1 April 2028 and 1 April 2031, by total annual supplies¹³.

By April 2031, all GST-registered businesses must be on the network¹³.

Practically, that means your accounting software needs to be on IMDA's list of accredited InvoiceNow-Ready Solution Providers¹¹ — or connected via an Access Point Provider — and have the GST InvoiceNow submission feature enabled.

Xero, ABSS Connect, AutoCount Cloud Accounting, and Financio are directly accredited¹¹. QuickBooks Online connects through partner integrations¹¹. Zoho Books supports PEPPOL e-invoicing from the Standard plan and above⁵.

PSG (Productivity Solutions Grant) eligibility

PSG is Singapore's government grant for adopting pre-scoped IT solutions, including accounting software. To qualify, your business must be registered and operating in Singapore, the solution must be used in Singapore, and you must meet sector-specific shareholding or employee criteria for certain solutions¹⁴.

Several providers in this guide are PSG-eligible — including Xero, QuickBooks Online, ABSS, and AutoCount¹⁴. Choosing a PSG-supported tool can reduce your software adoption cost meaningfully, especially in the first year.

To check current eligibility and your specific grant amount, search the GoBusiness Solution Directory¹⁴.

GST and IRAS workflows

Beyond InvoiceNow, look at how the software handles GST F5 returns, audit trails, and record-keeping. Most Singapore-focused tools handle these well, but global tools (FreshBooks, Wave) generally don't support GST.

Also check whether the software supports the InvoiceNow transitional funding scheme: up to S$1,000 for SMEs and up to S$5,000 for larger businesses to offset onboarding costs¹³. SMEs can also access IRSP-listed solutions for free until March 2031¹³.

Multi-currency and overseas payments

If you sell to overseas customers, pay overseas suppliers, or hold foreign-currency revenue, multi-currency support is essential. Watch for:

• Whether multi-currency is included in the base plan or only on higher tiers (Xero, ABSS, and many others restrict it to upper plans)

• Whether you can hold balances in foreign currencies or only invoice in them

• Whether the FX rates used are real-time, daily, or marked up

Pairing your accounting software with Airwallex gives you actual multi-currency Global Accounts, transparent FX, and overseas bill payments that sync back into your books. We’ll explore this in more detail in the next section.

Integrations with your finance stack

Your accounting software shouldn't sit on an island. Check that it integrates cleanly with:

• Your bank or business account, for automated bank feeds

• Your payment provider, for incoming customer payments

• Your spend management or corporate card platform, for outbound spend

• Your payroll, inventory, and CRM tools

Airwallex integrates natively with Xero, QuickBooks Online, NetSuite — so card spend, transfers, and Global Account activity flow into your books without manual exports.

Pricing model and total cost

The starting price you see often isn't the price you pay. Check for:

• Whether multi-currency, inventory, payroll, and expenses are included or paid add-ons

• User caps on lower-tier plans (some restrict to 1–3 users)

• Annual vs monthly billing — some providers (like ABSS) bill annually only

• Whether prices include GST or are quoted excluding it (some do, some don't)

Always work out the total annual cost at the plan you'll actually use, including any add-ons.

Ease of use and accountant familiarity

If you work with an external accountant, ask which tools they're set up on. Onboarding a new tool your accountant doesn't use creates friction every month.

Cloud-native tools (Xero, QuickBooks Online, Zoho Books) tend to have the easiest learning curves. Traditional desktop tools (ABSS, AutoCount) take more setup but offer deeper controls once you're set.

How to connect your accounting software to your wider finance stack

Your accounting software is where the numbers live. Airwallex is where a lot of those numbers come from — the money you receive, the money you send, and the spend on your team's cards.

When the two are connected, every transaction in Airwallex flows into your accounting software on its own. You don't have to download statements, upload CSVs, or match transactions line by line.

Here's what that looks like in practice:

Bank feeds that sync to your books

Airwallex Global Account activity feeds into Xero, QuickBooks Online, and NetSuite. Payments in, payments out, transfers, and conversions all flow into your accounting software automatically. You don't need to upload statements or export CSVs.

Card transactions mapped to the right accounts

Every Airwallex corporate card transaction syncs into your accounting software with the receipt and category attached. You set the GL mapping once. After that, transactions land in the right account, ready to reconcile.

Bill payments matched to the bill

When you pay a supplier through Airwallex Bill Pay, the bill and the payment sync to your books as one matched record. You don't have to look up payment references or check which FX rate was used.

A clearer audit trail

Each Airwallex transaction is logged with a timestamp, the FX rate, the sender, the recipient, and the supporting document. That gives you a full audit trail to draw from when you file GST F5 returns or respond to an IRAS query.

Multi-currency, when you need it

If you sell overseas or pay international suppliers, Airwallex Global Accounts let you collect, hold, and convert in 20+ currencies. The FX conversions sync into your books like any other transaction.

Frequently asked questions (FAQs)

What is the best accounting software in Singapore?

The best accounting software in Singapore depends on your business size, industry, and compliance needs. Xero and QuickBooks Online are popular cloud choices for SMEs, while ABSS and AutoCount suit businesses that need stronger inventory and on-premise control. For most Singapore businesses in 2026, the most important filter is whether the software is on IMDA's list of accredited InvoiceNow-Ready Solution Providers¹¹.

Do I need accounting software if I'm GST-registered?

Yes, if you are or will be GST-registered in Singapore, you'll need accounting software that supports GST tracking, F5 returns, and the GST InvoiceNow Requirement. From 1 April 2026, all new voluntary GST registrants must transmit invoice data to IRAS through the InvoiceNow network¹². Existing GST-registered businesses are brought into the requirement progressively between April 2028 and April 2031¹³.

How much does accounting software cost in Singapore?

Accounting software in Singapore ranges from S$0/month for free plans (Zoho Books, Jaz) to over S$95/month for higher tiers (Xero Premium). Most SMEs spend between S$20 and S$70 per month, depending on the plan, the number of users, and add-ons like payroll or multi-currency. PSG funding can reduce the cost further for qualifying businesses¹⁴.

Is accounting software PSG-eligible in Singapore?

Some accounting software is PSG-eligible, but not all. To qualify for the Productivity Solutions Grant, the solution must be listed on the GoBusiness Solution Directory and your business must meet PSG's eligibility criteria, including being registered and operating in Singapore¹⁴. Xero, QuickBooks Online, ABSS, and AutoCount are commonly cited PSG-supported options.

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, and NetSuite, so your inflows, outflows, and FX conversions sync to your books automatically.

What's the difference between cloud and desktop accounting software?

Cloud accounting software runs in your browser, with data stored on the provider's servers and accessible from anywhere. Desktop accounting software is installed on a local computer, with data kept on your own hardware and access limited to that device or network. Cloud is the dominant model in Singapore today, but desktop and hybrid options still suit businesses with strict data control needs or in-house IT.

Sources:

1.  https://www.xero.com/sg/pricing/

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

3.  https://sg.abssasia.com/pricing

4.  https://autocountsoft.com.sg/pro-cloud-acc.html

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

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

7.  https://www.jaz.ai/pricing

8.  https://financio.co/pricing

9.  https://www.waveapps.com/pricing

10.  https://www.sage.com/en-sg/shop/

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

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

13. https://www.iras.gov.sg/news-events/newsroom/iras-collected-s-100.81-billion-in-fy2025-26

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

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.