Small Business Singapore has brought together some of the best accounting software found in Singapore! From accounting and payroll software to online shopping and retail point of sale, all for free download. We do not only help you with the best accounting software in Singapore, but also provide customers with free business consulting services!
Free online accounting software Singapore with a suite of business management tools to help you manage and grow your small business. We offer an easy to use, cloud based solution for small firm accounting and bookkeeping that’s grown from proven software used by over 15,000 businesses. With over 50 years of collective experience in business and consulting, we understand the needs of growing small businesses. We’ve worked hard to make sure our software is easy for small firms across all industries to use and has everything you need to achieve your goals as quickly as possible.
Wave Financial – for SME Accounting
Wave Financial is one of the most popular on this list, and for good reason. The user interface of the Wave accounting platform is particularly easy on the eyes, so you can work on keying those transactions even if you’ve got little prior experience with accounting. The web-based software also backs all of your information up on their cloud network!

Amidst a long list of features that Wave offers for forever free, the platform allows you to manage all of your accounts receivable, generate financial statements, and view the overall big-picture of your business’ financial health. Not to mention, the clean user interface means that when the dreaded tax time comes, you or your accountant will be able to look at a neat dashboard that summarises everything to perfection.
Freelancers and SMEs can both also send invoices to clients from the platform, giving them the option to make directly via Wave, as opposed to a separate banking transaction. While this might save your clients a substantial amount of time, there is a small percentage that Stripe (the payment processor) takes. But for the most part, the amount is negligible, especially given that you can get paid in as fast as two days!
Akaunting – great for SME Accounting, even better for Medium-Sized Companies
Akaunting is a detailed accounting software that brims with features perfect for medium-sized companies. Many have lauded it to be amongst the best free accounting softwares in the market, owing to its open-source nature. This means that upon installation with a web host, you can use plug-ins to make sure the software works in a way that’s exactly how you want it.

Amongst a full suite of accounting services, Akaunting boasts multi-language and multi-currency features, an easy-to-use interface, and expense tracking features. Some aspects make it most relevant to medium-sized companies or small companies with many clients. These include client portals and multi-company functionality, which will undoubtedly come in handy when processing the messy financial aspect of cross-company collaborations. They will also allow you to receive bulk payments with ease.
With an integrated online platform, Akaunting allows you to track your company’s financial situation across multiple devices at any time. You can also generate all-encompassing reports and a Chart of Accounts (COA) to get a tidy, accountant-ready overview of your books.
GnuCash – Serious open-source accounting software for startups and SMEs
Are you a one person army that needs to get your sole proprietorship or small business accounting in order? GnuCash might be exactly what you need. The free, open-source software can run on Linux, Microsoft Windows, and Mac OS X.

Apart from the ability to handle multiple currencies and languages, GnuCash also allows you to track accounts receivable and accounts payable. Smaller businesses and startups will also appreciate the payroll features that the platform offers. The tracking of income and expenses is presented chequebook-style, so it’ll never get too far from that paper presentation that we all love.
Where more granular accounting is concerned, you can also add the automatic banking import feature during your setup. What this means is that it’ll account for the information in your Singapore corporate account before you’ve completed importing all of your transactions. Your bookkeeper will thank you later, when they’ve got less journal entries to key in and less errors to spot! Best of all, GnuCash offers customer and vendor management. You’ll get reminders when you’re late on bill payment, and likewise when your clients are late to pay you!
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.
MYOB/ABSS

Pros: Formally known as MYOB, ABSS is one of the more familiar automated accounting systems amongst business owners in the region. It offers a pretty robust inventory tracking system, along with an automated processing of your sales and purchases, report generation, and customisable invoices.
Cons: ABSS starts off at one user for ABSS accounting, with up to a maximum of 15 users for ABSS Premier. However, they don’t have a mobile app at the moment, which can be pretty tricky if you’re a business owner that’s constantly on the go.
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
Best all-rounder for small businesses
TODAY’S BEST DEALSFreshBooks LiteUS$15/mthFreshBooks PlusUS$25/mthFreshBooks PremiumUS$50/mthVISIT SITEat FreshBooks
REASONS TO BUY
+User-friendly interface+Plenty of depth and features+Integrates with many popular services
REASONS TO AVOID
-Too many features for some-Complex features need time-More costs for more features
FreshBooks is a popular cloud-based accounting service designed specifically for small business owners.Advertisement
The package has plenty of features – invoicing, expense tracking, time tracking, a host of business reports, even an option to take credit card payments – and a straightforward interface aimed at non-accountants ensures you’ll be up-and-running right away.
Despite the simplicity, there’s real depth here. You can bill in any currency, save time by setting up recurring invoices, allow customers to pay via credit card by checking a box, and even automatically bill their credit card to keep life simple for everyone.
If you need more power, the system integrates with many other services, including PayPal, MailChimp, Basecamp, WordPress, Gusto, Zendesk and more.
Management hassles are kept to a minimum. You’re able to access and use the system from your desktop or its free iOS and Android apps, and because it’s a cloud-based system there’s no need to worry about backups.
If this sounds appealing, you can try FreshBooks for 30 days without using a credit card.
Conclusion
Small business owners must not ignore the financial aspects of their business. One of the most important things that small businesses need is to keep track of the transactions and to perform accounting tasks.