Best accounting software for businesses in Singapore (2026): Fees, features, and benefits compared

Key takeaways:

• Accounting software automates key finance processes, but it’s important to choose the right software 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 fixing mistakes. 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 is a digital tool that helps you record, track, and report your business finances in one place. You can use it to log income and expenses, send invoices, reconcile bank feeds, and generate basic financial reports. There are many types of accounting software available, and we’ll cover the benefits of accounting software as well as the main options in the next sections.

5 Benefits of accounting software

Whether you run a small business or a growing team, manual spreadsheets only go so far. Here are five ways in which accounting software can help your business: 

1. Saves time on routine tasks

Accounting software automates data entry and other tasks, freeing you and your team to focus on higher‑value work.

2. Reduces manual errors

Accounting software comes with built‑in rules, templates and direct bank feeds, which lowers the chances of typos, duplicate entries, or broken spreadsheet formulas.

3. Improves cash flow visibility

With income, expenses, and outstanding invoices in one place, you can see who owes you money, what needs to be paid, and how much cash you really have on hand.

4. Supports tax and GST compliance

Many tools help you track goods and services (GST) tax, generate basic tax reports, and keep audit trails, which makes it easier to file accurately and respond to queries from IRAS or your accountant.

5. Creates cleaner, more useful reports

Instead of piecing numbers together at the end of the month, you can generate simple profit-and-loss, balance sheet, and cash flow reports in a few clicks to understand how your business is performing.

What are the 7 best accounting software for businesses?

There’s no single “best” tool for every team, but a few platforms come up again and again for businesses in Singapore. 

Here’s a quick overview of seven popular accounting software options, before we compare their pricing and features in more detail.

1. Xero: Xero is a cloud‑based accounting software platform built for small and medium enterprises (SMEs). Strong ecosystem support and local tax features make it a common choice for SMEs working with external accountants.

2. QuickBooks Online: QuickBooks Online is Intuit’s cloud accounting software for small businesses. Many users choose it for its strong US heritage, wide advisor base, and integrations with payroll, point of sale (POS), and eCommerce systems.

3. ABSS Accounting (formerly MYOB Singapore): ABSS Accounting is a desktop‑first accounting software package tailored to SMEs in Singapore and Malaysia. It’s often used by businesses that prefer running their accounts on local machines instead of in the cloud.

4. Autocount: Autocount combines accounting software and basic enterprise resource planning (ERP) functions in one system. Many companies use it when they need deeper control over transaction-level details.

5. Zoho Books: Zoho Books is cloud accounting software that sits inside the wider Zoho suite. It’s often used by small teams that already rely on other Zoho apps.

6. FreshBooks: FreshBooks started as an invoicing tool for freelancers and service businesses, then expanded into full accounting software. Many solo founders and agencies choose it for its straightforward, client‑friendly workflows.

7. Jaz: Jaz is a locally focused accounting software built for SMEs that want a simple way to handle bookkeeping, GST, and basic reporting without a steep learning curve. It’s often adopted by smaller businesses taking their first step off spreadsheets.

7 best accounting software for businesses in Singapore compared

Here’s a side‑by‑side look at how these seven tools compare in terms of their configuration, pricing, and key features.

Note: The information in this table has been reviewed to be accurate as of 20 January 2026. Please refer to each provider’s website for the latest pricing, features, and integration options.

Xero

Xero is cloud‑based accounting software built for SMEs that want a modern, easy‑to‑use interface. It offers live bank feeds, invoicing, bills, basic inventory, project tracking, and GST support, and is widely used by SMEs that work with external accountants.

QuickBooks Online

QuickBooks Online is cloud‑based accounting software aimed at small businesses that want familiar dashboards and strong invoicing and expense management features. It covers core needs like bank reconciliation, GST support, and basic reporting, and is popular with firms that already work with QuickBooks‑trained advisors.

ABSS Accounting (formerly MYOB Singapore)

ABSS Accounting is desktop accounting software designed for SMEs in Singapore and Malaysia that prefer to store their data on in-house systems. It supports multi‑currency ledgers, inventory, sales and purchasing modules, and GST reporting that aligns with local requirements.

Autocount

Autocount combines accounting software with basic ERP functions, making it a fit for SMEs that want tighter control over stock, sales, and purchasing alongside their general ledger. It’s typically installed on desktop or on‑premise servers and is often rolled out by local implementation partners.

Zoho Books

Zoho Books is cloud‑based accounting software that sits inside the wider Zoho suite. It covers core needs like invoicing, expenses, bank feeds, and GST, and links smoothly with Zoho CRM, Inventory, and other apps, which makes it attractive for teams already using the Zoho ecosystem.

FreshBooks

FreshBooks is cloud‑based accounting software that grew out of a simple invoicing tool for freelancers and service businesses. Today, it combines client billing, time tracking, expenses, and basic reports in a clean, guided interface, which makes it popular with solo founders, agencies, and professional services teams.

Jaz

Jaz is locally focused accounting software built for SMEs that want a straightforward way to handle bookkeeping, GST, and basic reporting. It focuses on core ledgers, invoicing, and bank reconciliation, and is often used by smaller businesses who are transitioning from spreadsheets to dedicated accounting software. 

What are the different types of accounting software?

Not all accounting software is built the same way. Broadly, most tools fall into three buckets: cloud‑based, desktop, or a hybrid of the two. 

Cloud-based accounting software

Cloud‑based accounting software runs in your web browser or mobile app. Your data is stored online, and you can log in from anywhere with an internet connection. Examples include Xero, QuickBooks Online, Zoho Books, and FreshBooks.

This model suits businesses that want remote access, easy collaboration with accountants, automatic updates, and strong integrations with other SaaS tools like eCommerce platforms, CRMs, and payment providers. 

Companies in eCommerce, professional services, agencies, and tech/startups tend to favour cloud‑based accounting software because their teams often work remotely and rely on online tools.

Desktop accounting software

Desktop accounting software is installed on specific computers or local servers. ABSS Accounting and many Autocount setups fall into this category. Your data usually lives on your own machines, and access is tied to those devices or your office network.

This appeals to companies that prefer a more traditional setup, want tighter control over where data is stored, or don’t need remote access for many users. You’ll see desktop accounting software more often in family businesses, manufacturing, wholesale and distribution, or firms with in‑house IT teams.

Hybrid accounting software

Hybrid setups blend both worlds. Some tools are primarily desktop or on‑premise, but offer limited browser access, remote logins through a VPN, or cloud add‑ons for reporting and approvals. Others may be hosted for you by local partners.

This type of accounting software can work for businesses that need the depth and control of on‑premise systems (for example, tighter stock or ERP‑style features) but still want more flexibility for field teams, multi‑site operations, or external advisors who need to log in remotely.

How to choose the right accounting software for your business

The “best” accounting software depends on what your business looks like today, and how you expect it to grow. A solo founder with a handful of invoices each month will need something very different from an SME with staff, inventory, and multi‑currency payments.

Use these six steps to narrow down your options:

Step 1: Assess your business needs

List what you need help with today, and what you might need in the next one to two years.

Step 2: Match features to those needs

Shortlist tools that cover your must‑haves first, then look at “nice to have” features. 

Step 3: Compare costs and pricing models

Look beyond the advertised monthly price. Check how many users are included, which features are only available on higher tiers, and whether you need to pay extra for add‑ons or support.

Step 4: Check ease of use

Ideally, the software should be easy and intuitive to learn. 

Step 5: Look at scalability

Consider whether the tool can handle more transactions, more users, and extra entities or currencies as you grow.

Step 6: Think about software integration

Your accounting software works best when it connects to your bank accounts, payment gateway, and expense tools. Platforms like Airwallex help by feeding detailed, multi‑currency transaction data from your Business Account, payments, and Corporate Cards straight into your ledger, reducing manual reconciliation.

Airwallex: Turn your accounting software into a real-time view of company spend

No matter which accounting software you use, you need a simple way to control spending, track expenses, and pay bills. That’s where Airwallex comes in: it gives you one place to manage company cash that’s going out – from cards and employee expenses to vendor payments.

With Airwallex, you get a multi-currency Business Account, Corporate Cards, Expense Management, and Bill Pay on a single platform. You can connect Airwallex to popular accounting tools like Xero, QuickBooks, NetSuite, Sage, and Odoo, or export detailed data into other systems when needed, which reduces manual data entry and makes the month-end much easier for your finance team.

Here’s what that looks like in practice:

• Multi-currency business account with local details. Open local currency accounts in major markets and hold 20+ currencies, so you can receive and pay in foreign currencies without forced conversions or extra bank fees.

• Fast, affordable international transfers. Send overseas transfers using local payment rails to 120+ countries, with clear FX margins and lower transaction costs.

• Built-in global Expense Management. Issue virtual or physical Corporate Cards in minutes, set card limits, and use the mobile app for quick receipt capture and categorisation. 

One business that’s used this setup to simplify their finance operations is Singapore baby food brand Little Blossom. After moving to Airwallex, Little Blossom centralised accounting, employee expenses, and bill payments while integrating with Xero. 

As co-founder Gillian Choo says, “With Airwallex, we can instantly issue employee cards and categorise international expenses for things like business travel or social media marketing. It’s now easier than ever to manage our finances.”

Frequently asked questions (FAQs)

Do I need accounting software for my small business?

Yes, most small businesses do need accounting software because it keeps your income, expenses, and cash flow organised in one place. Even if you only issue a few invoices each month, software helps you avoid manual errors, tracks who owes you money, and generates basic reports for you.

Is cloud-based accounting software safe?

Yes, reputable cloud-based accounting software is generally safe because it uses encryption, secure logins, and regular backups to protect your data. As with any online tool, you should still use strong passwords, enable multi-factor authentication, and limit access rights for your team.

Can accounting software help with tax compliance?

Yes, accounting software can help with tax compliance by tracking GST, tagging taxable transactions, and generating basic tax reports. This makes it easier for you or your accountant to file accurate returns and respond to questions from the tax authorities.

What types of businesses benefit the most from using accounting software?

Any business that sends invoices, pays suppliers, or manages payroll benefits from accounting software, especially once you outgrow simple spreadsheets. It’s particularly useful for SMEs that need better visibility over cash flow, multi-currency transactions, or multiple revenue streams. To tighten control over day‑to‑day spend, pair your accounting software with expense management software so you can track, approve, and sync employee expenses in one place.

What is Enterprise Resource Planning (ERP) software?

Enterprise Resource Planning (ERP) software is a system that combines core functions like accounting, inventory, sales, purchasing, and sometimes HR into one integrated platform. ERPs are typically used by larger or more complex businesses that need deep control over stock, workflows, and reporting across different departments.

Sources:

1. https://www.xero.com/sg/try-now/accounting/xero-accounting-software/ 

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 

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.