Cloud-based accounting software has become the default choice for many Singapore SMEs and accounting firms – including businesses like yours – because it’s easier to access, keeps you compliant with GST rules, and integrates nicely with banks and other tools.
Below is an overview of some of the more popular cloud accounting solutions used in Singapore, with a focus on features that matter locally: GST, IRAS compliance, e-invoicing (InvoiceNow/Peppol), and SME-friendly workflows.
Why cloud accounting is so popular in Singapore
Before we look at specific software, it helps to see why cloud systems have taken off here:
- Anytime, anywhere access – Owners, finance managers and auditors can log in from office, home or overseas to check numbers or approve payments.
- Local compliance – Many solutions now support GST, IRAS requirements and the upcoming GST InvoiceNow Requirement, which will progressively require GST-registered businesses to transmit invoice data using InvoiceNow-ready solutions via the Peppol network.
- Bank feeds & automation – Direct integration with local bank accounts reduces manual data entry and speeds up reconciliation.
- Scalability – From micro-SME to regional group, you can usually upgrade plans as your business grows.
- Collaboration with accountants – Most Singapore accounting firms are now comfortable working inside cloud systems (e.g. Xero, QuickBooks, Financio, Zoho Books).
Many “best accounting software in Singapore” lists for 2025 consistently feature Xero, QuickBooks Online, Zoho Books, Financio, ABSS, Sage and Deskera as popular options for local businesses.
Key things to look for (Singapore context)
When comparing cloud accounting platforms here, typical decision factors are:
- GST & IRAS compliance
- Support for 7%/8%/9% GST changes, correct tax codes, and GST reporting (F5).
- Ability to generate IRAS-ready files or be listed/associated with IRAS Accounting Software Register (ASR / ASR+).
- InvoiceNow / Peppol e-invoicing
- Singapore is pushing businesses toward e-invoicing using the Peppol network under InvoiceNow. Many modern solutions integrate directly with Peppol or InvoiceNow apps.
- Integration with local banks / payment methods
- Feeds from DBS, OCBC, UOB, etc.
- Support for PayNow, GIRO, local payment gateways where possible.
- Ecosystem & add-ons
- Payroll, HR, POS, inventory, CRM and job-costing add-ons (either native or via marketplace).
- Ease of use & support
- Non-accountants should still be able to issue invoices, record expenses and run basic reports.
- Availability of local partners, training and support.
- Price vs feature fit
- Micro-SMEs may prefer low-cost, simplified tools; larger businesses might need ERP-level systems.
With that in mind, here are some of the more popular cloud accounting options in Singapore.
1. Xero
Xero is one of the most widely adopted cloud accounting platforms among Singapore SMEs and accounting firms. Many local “top accounting software” lists put Xero at or near the top.
Why it’s popular in Singapore
- IRAS-aligned & ASR+ related implementations – Xero cloud accounting appears in IRAS’ Accounting Software Register Plus listing through various local implementation partners, which confirms that specific Xero-based configurations meet IRAS’ requirements.
- GST & InvoiceNow (Peppol) support – Xero integrates with the Peppol network and supports sending and receiving e-invoices via InvoiceNow apps like Invoici from Xero, aligning with the new GST InvoiceNow requirement.
- Strong ecosystem – Hundreds of add-ons for payroll, inventory, CRM, time-billing, etc.
- Good for accountants & auditors – Multi-user access and robust reporting make collaboration with external accountants smoother.
Best for: SMEs that want a mature ecosystem, strong bank feeds, and powerful multi-currency features, and are willing to pay a bit more for flexibility.
2. QuickBooks Online
QuickBooks is globally one of the biggest names in small-business accounting and is also commonly recommended for Singapore businesses.
Key strengths
- Familiar interface – Many overseas-trained accountants and bookkeepers are already comfortable with QuickBooks.
- Strong general accounting features – Chart of accounts, invoicing, bills, multi-currency, cashflow and management reports are well-developed.
- Third-party ecosystem – Integrates with many inventory, POS and e-commerce tools.
Things to note locally
- The core product is strong, but compared to some local-centric tools, you may need more manual configuration for GST and may not have as many Singapore-specific tweaks (like InvoiceNow built-ins) out of the box. Still, many local firms successfully use QuickBooks for Singapore entities.
Best for: Businesses that work with overseas partners or multi-country operations and want a globally recognized platform.
3. Zoho Books (Singapore Edition)
In 2025, Zoho officially launched Zoho Books – Singapore Edition, a version tailored specifically to local regulations.
Why it’s increasingly popular
- GST automation & IRAS-ready F5 – The Singapore edition automates GST calculations and generates IRAS-ready F5 returns, reducing manual effort and compliance risk.
- E-invoicing & InvoiceNow integration – Supports Peppol e-invoicing and is being integrated with Singapore’s InvoiceNow framework to push invoice data to IRAS.
- Part of a larger suite – Zoho offers CRM, inventory, HR, helpdesk and more; everything can be integrated into one platform.
Best for: SMEs that like an integrated “all-in-one” business suite and want a Singapore-specific edition with strong GST/e-invoicing focus.
4. Financio
Financio is a cloud accounting software built with Singapore SMEs in mind, and it has gained a lot of traction recently, especially with aggressive SGD1/month promotions for its Essentials plan.
Local-centric advantages
- IRAS-compliant & GST-ready – Financio explicitly positions itself as IRAS compliant and lets users manage GST F5 returns and IRAS Audit Files (IAF) directly from the system.
- InvoiceNow-ready – Financio is marketed as GST InvoiceNow Ready, aligning with the Peppol e-invoicing mandate.
- Bank integration – Connects to local banks for transaction syncing and easier reconciliation.
- SME-friendly UI & pricing – The interface is designed for owners who may not have an accounting background, and pricing is very attractive for micro and small businesses.
Best for: Micro-SMEs and small businesses that want a simple, low-cost, IRAS-compliant cloud solution with e-invoicing support.
5. ABSS (formerly MYOB)
ABSS is the rebranded version of MYOB in this region and remains a familiar name for many long-time Singapore SMEs and accounting firms. It’s often mentioned in local “top accounting software” round-ups.
Key points
- Longstanding presence – Many firms migrated from desktop MYOB to ABSS cloud/online solutions.
- Local partners & support – Strong network of local resellers, trainers and implementers.
- Hybrid setups – Some businesses still run ABSS on-premise, while others use cloud-hosted versions, depending on internal policies.
Best for: SMEs that have been on MYOB/ABSS for years and want continuity and local partner support, or that prefer more “traditional” accounting workflows.
6. Sage Business Cloud Accounting
Sage is a global accounting and ERP brand, and its Sage Business Cloud Accounting offering is regularly listed among recommended tools for Singapore SMEs.
Strengths
- Clean dashboard & strong reporting – Good profit & loss, cashflow and debtor reporting; easy-to-read dashboards.
- Cloud-based & multi-device – Access via browser or mobile app.
- Part of a bigger family – For companies that may later upgrade to more advanced Sage ERP products.
Best for: SMEs that want a straightforward accounting tool from a big, established global vendor and potentially plan to scale into mid-market ERP later.
7. Deskera (ERP with Accounting)
Deskera is a Singapore-founded cloud ERP provider offering accounting, inventory, CRM and HR in one integrated platform. It’s often positioned as a step up from simple accounting software, providing broader business management features.
What makes it stand out
- All-in-one business platform – Accounting, sales, inventory, manufacturing, HR and more are available within one cloud suite.
- Cloud-native – Designed from the start as SaaS (software-as-a-service), with strong mobile access and dashboards.
- Regional presence – Deskera has roots in Southeast Asia and caters to regional regulatory needs.
Best for: Fast-growing SMEs that are outgrowing a basic accounting app and want a reasonably priced ERP with integrated accounting, especially those with inventory, manufacturing or multi-department needs.
8. AutoCount Cloud Accounting
AutoCount has long been known in Malaysia and Singapore for its accounting software, and there is now cloud-based deployment suitable for businesses that want both local familiarity and remote access. It appears frequently in local “top accounting software” lists.
Reasons people choose AutoCount
- Strong accounting core – Solid double-entry accounting, debtor/creditor management and reporting.
- Local know-how – Designed with regional tax and business practices in mind.
- Modular approach – Options for POS, inventory and other modules, depending on needs.
Best for: SMEs that have historically used AutoCount on-premise and now want to move to a cloud version, or those that want a regional vendor with strong accounting fundamentals.
9. For larger or more complex businesses: ERP-level cloud systems
For companies with more complex requirements (multi-entity consolidation, detailed project accounting, or complicated approval workflows), pure accounting tools may not be enough. Common cloud ERP options used in Singapore include:
- Oracle NetSuite – A globally recognized cloud ERP used by mid-size and larger businesses for multi-entity consolidation and advanced reporting.
- Microsoft Dynamics 365 Business Central – Often chosen by companies that are already on the Microsoft stack and want a customizable ERP with strong financials.
- HashMicro – A Southeast Asia-based ERP provider headquartered in Singapore, offering cloud ERP modules that cover finance, inventory, manufacturing and more, with an emphasis on regional tax and regulatory compliance (including IRAS).
These platforms are typically more expensive and require implementation projects, but they can be a better long-term fit for larger or fast-scaling organisations.
How to choose the right software for your business
Here’s a quick framework you can use:
- Map your size & complexity
- Freelancers / very small businesses → Financio, Zoho Books, possibly Xero’s simpler plans.
- Typical SME with a few staff & recurring invoices → Xero, QuickBooks, Zoho Books, Financio, Sage.
- Inventory-heavy or multi-department → Deskera, AutoCount or an ERP like NetSuite / Business Central.
- Check GST & e-invoicing
- Confirm support for Singapore GST, IRAS-ready reports and InvoiceNow/Peppol integration. This is increasingly critical with the GST InvoiceNow requirement being phased in from November 2025 for new voluntary GST registrants.
- Look at ecosystem & support
- Do you need payroll, POS, CRM, or project management integrated?
- Are there local partners or accountants who specialise in your chosen software?
- Test using free trials
- Almost all the major cloud systems above offer free trials or demo accounts. Have your team test daily workflows: issuing invoices, recording expenses, reconciling bank statements, and generating GST reports.
- Think long-term
- Migrating systems later can be painful. If you expect to grow quickly, consider whether the software has higher-tier plans or a pathway into a full ERP.
In summary
Some of the more popular cloud-based accounting software in Singapore today include:
- Xero
- QuickBooks Online
- Zoho Books (Singapore Edition)
- Financio
- ABSS (formerly MYOB)
- Sage Business Cloud Accounting
- Deskera
- AutoCount Cloud Accounting
- And, for larger operations, ERP-level systems like NetSuite, Dynamics 365 Business Central, and HashMicro ERP