As a small business owner, you understand the importance of keeping accurate financial records. If you are looking for accounting software, here are some of the top 10 accounting software in Singapore.
There are dozens of Accounting Software available in Singapore. So which Accounting Software is the best? Find out the Top 10 Accounting Software that you may want to consider when choosing a SaaS (Software as a Service) based Accounting Software.
Ace Accounts
| Type of Information | Details |
| Website | https://www.acesoft.com.sg/ |
| Features | – Mobile-based, Cloud computing – No accounting settings required – Convenient data entry using phone camera (AI-powered OCR technology) – All-in-one (Accounting, HR, Inventory, reminders, etc) |
| Best For | Small businesses, Freelancers, Self-employed |
The first mobile-based “on-the-go” accounting software designed by a Singapore Tech start-up. Ace Accounts is different from other traditional accounting softwares: they are super easy to use and well-designed with a revolutionary interface meant for users even without accounting experience.
Firstly, NO accounting settings are required – just input data using your mobile phone, and the rest are automated by the mobile app. Comprehensive reporting compliant with IRAS, including GST reports and accounting reports, are just a click away!
Secondly, Ace Accounts simplifies the data entry process by using AI-powered OCR text extraction technology to convert physical documents into digital data. All you need is a phone with a camera to take pictures of your documents and receipts. They’re then stored as digital files for record keeping.
Lastly, Ace Accounts is an all-in-one cloud software solution. Besides the Accounting and Bookkeeping feature, there are additional functional modules integrated, like HR Module (Payroll, Leave, and Claim Management), Inventory Management, etc. Also available for all plans are other super convenient features such as Push notification to remind you of all important dates and deadlines, as well as the Smart Virtual Assistant to help you with your questions 24/7.
It’s possible to run almost all your company administration on the go with Ace Accounts. It’s currently one of the best accounting software mobile apps in the market for small businesses, freelancers, and self-employed.
Estimated Price Points: Ace Accounts’ starting plan start from NETT $16.98 SGD / month ($168.98 for annual plan)
Xero
Pros: One of the most popular accounting softwares on the market, Xero is well-designed and easy to use for business owners new to accounting. Xero integrations are also one of the most compatible programmes with other systems, which makes it easy to integrate with other finance tracking softwares you might be using for your business. On top of that, it also includes automatic tax calculations linked to IRAS regulations.
Cons: There have been quite a few complaints about Xero’s inconsistent customer service. Some customers have also experienced difficulty with bank integration.
💡 Tips: Did you know that Aspire is Xero’s first business payment services partner in SEA? Through this integration, founders can get access to smart features like hourly data syncs to auto-spend categorisation.
Highnix
Highnix provides startups and small businesses on the island with a range of accounting systems as well as cloud-based enterprise resource planning software. It aims to reduce accounting procedures and speed up company operations.
Highnix is compliant with the most stringent government standards, which is something that you should know about Highnix. Its systems have been verified by the Inland Revenue Authority of Singapore and include automatic reminders to pay your tax obligations. Another benefit SMEs appreciate about its accounting software is how well it integrates with third-party programs, allowing businesses with several departments to exchange information seamlessly, resulting in less data errors.
If you want a faster and shorter payment cycle for your business, Highnix is the ideal accounting program. Peppol ID registration and a Dynamic Paynow QR Code are included in its accounting systems. Furthermore, you can use it on any operating system: Linux, Windows, or MacOS. You may also log in from your smartphone, tablet, and other mobile gadgets.
| Key Features | PSG pre-approved full cloud ERP System With two types of license plans With security and data backup Works with Windows, Linux, and macOS |
| Website | https://www.highnix.com/ |
| Price | SaaS License starts from $90 per month. With inventory management starts at $120 per month. Permanent license ERP starts from $4,040 with government subsidies. |
Sage
| BEST FOR | Small and medium businesses |
| FEATURES | Accounting and finance management, payroll services, business cloud accounting, human resource solutions, and customer relationship management |
| PRICING | Starting from $12 per month |
| WEBSITE | https://www.sage.com/en-sg/ |
Sage has been repeatedly recognised by many renowned entrepreneurs because of its award-winning business solutions that provide efficient management of accounting operations. It earns a spot here for two main reasons.
First, Sage caters to both small and medium-sized businesses. Instead of offering the same accounting software for these two, it came up with separate accounting and payroll systems suitable for their specific needs.
Second, its user-friendly accounting software is designed to reduce the administrative workload of small businesses, allowing employees to spend more time on enhancing brand development.
Your financial data, along with Sage’s accounting software, is stored securely in a cloud, within a remote server and computer, which means that you will be able to access your data even on your smartphone.
Other notable features of Sage’s accounting software include easy tracking of accounts receivable and payable, fast connecting of bank feeds to tally bank statements, inventory management, and sales invoices, among others.
For their simple and easy-to-navigate interface and multiple features, Sage’s accounting software is something that small and medium businesses should never pass on.
Pros
- Unlimited transactions
- Automatic backups
- Works on any devices
- Affordable subscriptions
Cons
- Caters mainly to small and medium businesses
Customer Reviews
Sage was able to earn the trust of many customers because of its competent capacity and affordable pricing. Here’s a review from one of its users:
“One thing we really appreciate about Sage 300cloud is that it supports a large volume of data, a factor that we anticipate for the near future, and it comes at a reasonable price too.”
ABSS
| Type of Information | Details |
| Website | https://sg.abssasia.com/abss-accounting |
| Features | – DBS Bank Feeds – InvoiceNow |
| Best For | Owner Operators |
Ideal for owner-operators, ABSS Accounting helps one process sales and purchases, track receivables, payables and GST at the tip of one’s fingers.
ABSS Accounting is easy to use for beginners without much accounting background. One convenient feature is that of the ability to connect the DBS account securely with ABSS Connect where your bank account and transaction data is delivered securely and accurately to your ABSS accounting software.
Estimated Price Points: Basic package for 1 user starts from $424 SGD, including free installation, database setup and free 30 days support.
SmartCursors
Pros: This accounting software is a multi-currency and multi-entity integrated platform, which means all your currency gains and losses will be automatically tracked in your dashboard. It’ll also be able to handle the accounting of multiple entities, allowing cross-billing, receipts and funds transfers.
Cons: It’s very easily integrated with other SmartCursor applications, but might face a few difficulties when matched with softwares outside of the brand.
FreshBooks
FreshBooks was founded in 2003 and has since risen to become a popular accounting software in Singapore and across the world. It boasts 24 million users from over 160 countries, which demonstrates how reputable it is.
FreshBooks was created for freelancers and self-employed professionals in mind, unlike most accounting programs, which are designed for start-ups or large businesses. There are low-cost accounting packages that can be used by contract workers.
The program, among other things, has project management, invoicing, time tracking, double-entry accounting, and proposal software. It includes bespoke accounting plans that allow users to add extra features to their operations.
If you want a payment solution that will save time, there’s no better alternative than FreshBooks. You may receive your payment 11 days sooner through credit cards, eliminating the need to chase after clients for checks.
Additionally, FreshBooks is a cloud-based accounting software that helps you manage your financial and administrative details in one convenient location. FreshBooks also connects with more than 100 apps to make managing your business operations easier.
| Key features | Budget-friendly plans 30-day guarantee 50% on the first three months |
| Website | https://www.freshbooks.com/ |
| Price | Starting from $6 per month |
Zoho Books
| Type of Information | Details |
| Website | https://www.zoho.com/books/ |
| Features | – Third Party Integrations – End-to-end accounting – Customizable Invoice |
| Best For | Variety of business sizes |
India-based SaaS company Zoho Corporation offers Zoho Books as part of its Zoho One Suite offerings. Zoho Books like many others in the industry is an online accounting software that helps in financial and business management. Zoho is an ideal fit for a variety of business sizes, robust even for larger enterprises.
What sets Zoho Books apart from its competitors is firstly its myriad of third party integration capabilities – Paypal, Dropbox, OneDrive and Square just to name a few of its many integration capabilities. With Zoho, you’ll be able to create unlimited transactions and add any number of users.
Some clients however has given feedback that the third party integrations are complicated and that tutorials are too technical in nature at times.
Estimated Price Point: Good news! Zoho is free for businesses with less than 50K USD of turn over per annum. Their standard package starts from $10 USD per organization / month ($120 per annum), billed annually.
Wave
| Type of Information | Details |
| Website | https://www.waveapps.com/ |
| Features | – Customizable Invoice Software – Wave Payments Network – One-Stop Accounting System |
| Best For | Entrepreneurs, SMEs |
Hearing that Wave software is free of charge raises eyebrows. There is indeed no hidden costs and the software is 100% free, no trials, no limitations. The free software includes invoicing, accounting, and receipt scanning. Wave’s easy-to-use accounting software’s ability to be connected to bank accounts, expenses syncing and balancing the books are just some of its many capabilities.
However, some have also given feedback that the linking of bank account is troublesome at times.
Estimated Price Points: Pricing plans
GnuCash
Pros: As an open-source application, GnuCash’s free-to use interface is definitely a draw for many business owners. It’s easy to navigate interface makes it fuss-free when you’re managing transaction reports.
Cons: Being a downloadable programme online means GnuCash is a little short on the support front. It’s also a little difficult to integrate and import data from other apps, which might be a consideration for some users.
Conclusion
We have listed down the Top 10 Accounting Software in Singapore. Now, you can know which software is more beneficial to you.