Accounting & Tax Software for Singapore SMEs (2026)
From DIY cloud software to fully outsourced bookkeeping — 5 options compared, including what the new InvoiceNow rules mean for you.
Good accounting isn’t just about staying organised — it’s about staying compliant. With InvoiceNow Phase 2 taking effect in April 2026, more GST-registered businesses are now required to be e-invoicing ready, and the software you choose today affects how painful (or painless) that transition is.
Below is a comparison of 5 accounting options for Singapore SMEs — from fully DIY cloud software to a done-for-you service that handles your books for you.
Compare Accounting Options Side-by-Side
• Growing SME, need full GST/InvoiceNow compliance → Xero
• Budget-conscious, familiar interface → QuickBooks Online
• Solo/early-stage, want a free tier first → Zoho Books
• Prefer one-time purchase, in-house data → ABSS (MYOB)
• Don’t want to touch bookkeeping at all → Osome (done-for-you)
Ex-banker. Free introduction. No advice fees.
| Provider | Type | Starting Price | InvoiceNow Ready | Best For |
|---|---|---|---|---|
| Xero | Cloud Software | From S$39/mo | Yes | Growing SMEs needing full compliance |
| QuickBooks Online | Cloud Software | From ~S$15.50/mo | Yes (via reseller) | Budget-conscious, familiar dashboard |
| Zoho Books | Cloud Software | Free tier, paid plans support InvoiceNow | Partial — free tier no | Solo founders, early-stage startups |
| ABSS (MYOB) | Desktop Software | From S$580 one-time | Yes — via Peppol connectivity | SMEs preferring one-time purchase, in-house data |
| Osome | Done-For-You Service | Custom (service-based) | Handled for you | SMEs who want bookkeeping fully outsourced |
Pricing shown reflects entry-level plans as of June 2026 and may exclude promotional discounts — always confirm current pricing and InvoiceNow/Peppol certification status directly with each provider. This is not financial or tax advice.
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A Closer Look at Each Option
The most widely used cloud accounting platform among Singapore SMEs, and the tool most local accountants are already set up on. Unlimited users on most plans, strong bank feed integration with DBS, OCBC, and UOB, and full InvoiceNow/Peppol support.
A familiar, lower-cost entry point covering invoicing, expenses, and GST tracking. InvoiceNow support is delivered through Intuit’s IMDA-accredited reseller partners, so confirm this is set up if e-invoicing compliance matters to you.
A genuinely free tier for early-stage businesses under the revenue threshold, with room to grow into the wider Zoho suite (CRM, Inventory, Payroll). Note that full InvoiceNow/Peppol support only kicks in on paid plans.
A one-time purchase model rather than a subscription — appeals to SMEs that want their data stored in-house and plan to use the same software for several years. Supports InvoiceNow via Peppol connectivity.
Rather than giving you software to manage yourself, Osome combines technology with real accountants who handle your bookkeeping, GST filing, and compliance deadlines for you — a fit for SME owners who’d rather not touch the books at all.