Best Online Accounting Software for Singapore Businesses

The fact that Singapore is one of the Four Asian Tigers proves that even a sovereign city-state can maintain exceptionally high growth rates if it pays extra attention to its economy. In fact, due to it being the most open, pro-business economy in the world and having quite low tax rates, Singapore has turned into a true financial center to where more and more businesses are moving. The city-state also embraces the advantages of modern technology (this is the only Asian state with 100% smartphone usage), so it’s not surprising that most online accounting companies provide their solutions to Singapore-based businesses.

With online accounting you can say goodbye to endless Excel spreadsheets, dusty bookshelves full of folders, and shoeboxes filled with receipts and move every single piece of data to the cloud. With accounting software it is easy to create invoices and quotes on a recurring basis, record expenses with a few clicks, keep track of service items within an inventory, store the contact info of your clients, create projects, track time worked, manage payroll, take care of taxes and much more.

UK-based Sage One has all the major accounting features that an aspiring business needs, from unlimited invoicing, quoting, and billing to tracking income and expenses or auto-categorizing your transactions, even from within the Sage iOS or Android apps. Sage One accounts can even forecast your cashflow based on any existing ones, create 18 business reports automatically and support the integration of 22 different third-party apps. For Singaporeans, Sage One is available via one pricing plan (for $10 per month) but it can also be trialed for free for 30 days.

The trusty cloud accounting solution of one million businesses worldwide, Xero includes the usual features like invoicing, expense management, seamless bank reconciliation, and automated business reporting. However, it is also capable of creating quotes, allowing fast payment for clients, supporting multiple currencies, and displaying the necessary data on a visually appealing dashboard regardless of whether you use Xero on a computer or with an iOS/Android phone. For $20 a month you’ll also receive a 30-day money back guarantee, access to 500+ third-party apps, 24/7 customer support and advanced learning materials.

With the IRAS approved QuickBooks Online you will be able to create customized, recurring, multi-currency invoices, record expenses with your phone, check your account on the go, connect countless third-party apps to the software, and get access to over 65 different business reports. This accounting solution is available for as low as $7.50 per month for the first year of use, but there is an option to sacrifice this 50% discount for a 30-day money back guarantee.