Best Accounting Software in Singapore for SMEs That Need GST Reporting

Here’s a practical list of the best accounting software options in Singapore for SMEs that need strong GST reporting and compliance — from widely-used global platforms to solutions tailored for IRAS requirements:

✅ Top Accounting Software Options for GST-Ready SMEs in Singapore

1. Xero – Cloud Accounting Standard

• Well-established cloud accounting platform with strong GST tracking, banking feeds, invoicing and reporting.
• Widely used by Singapore SMEs and integrates with local tools and apps.
• Supports real-time financials and IRAS-friendly compliance reporting. (SingBusinessLoan)

2. QuickBooks Online – Flexible Small Business Accounting

• Easy-to-use cloud solution with built-in GST tracking and local reporting features.
• Good for service-based SMEs and businesses wanting scalable reporting.
• Strong financial reports and dashboard views for GST and tax preparation. (SingBusinessLoan)

3. Zoho Books – Budget-Friendly, GST-Compliant

• GST-ready accounting with e-invoicing, expense tracking, and IRAS compliance in mind.
• Often more affordable with a free trial and plans that scale with business needs. (Zoho)

4. ABSS (formerly MYOB) – Localised Compliance Support

• Cloud or hybrid option with GST compliance, bank feeds, and reporting tailored for Singapore SMEs.
• Good choice if you want a solution with industry-specific features like inventory or payroll integration. (Osome)

5. Financio – Singapore-Focused Accounting

• Built with local compliance and GST in mind, often easier for SMEs new to accounting software.
• Helps with GST F5 report preparation and integrates well with InvoiceNow for e-invoicing. (SingBusinessLoan)

6. PeppyBooks – GST-Centric Local Tool

• Designed specifically for Singapore GST accounting and compliance, including GST calculations and automation.
• Simplifies tax reporting and IRAS-aligned invoicing. (PeppyBooks)

🧠 Key Selection Criteria for Singapore SMEs

When choosing your accounting software, make sure it offers:
✔ GST tracking and reporting — automated GST calculation with GST F5 preparation. (SingBusinessLoan)
✔ IRAS-compliant invoicing — tax invoices that meet Singapore GST requirements. (Accounting Software Singapore)
✔ Bank feed integration — direct feeds from local banks to reduce reconciliation work. (SingBusinessLoan)
✔ Cloud access and real-time reporting — access from anywhere with up-to-date financial data. (SingBusinessLoan)
✔ Scalability — ability to grow with your business and handle increasing transaction complexity. (Osome)

📌 Tip for SMEs

Cloud accounting is now the standard for Singapore SMEs because it supports compliance and automation — especially for GST and IRAS reporting — without the heavy admin burden of spreadsheets or desktop systems. (SingBusinessLoan)

If you’d like, I can tailor this list by business size, industry, or budget range too — just let me know!

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