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The best accounting software for Singapore businesses
Most accounting tools are built for the US, or for generic small business anywhere. A Singapore business needs GST and InvoiceNow handled, PayNow and bank transfers matched, CPF payroll, and several currencies, without gluing five tools together. Here's an honest look at the options.
The short version
If you want one system built for exactly this (GST, InvoiceNow, PayNow, CPF payroll, multi-currency and profit per client), Punctual is the pick. If your accountant runs your books their way, or your needs are simple and single-currency, a general tool can serve you well.
The options, honestly
Punctual
Our pickBuilt in Singapore for growing businesses: GST tracked as you go and e-invoices through InvoiceNow, clients pay by PayNow or bank transfer with no card fee, payroll with CPF worked out, multi-currency native, and profit per client on real books. US$79 a month, everything included.
Xero
The general standard here, with a big accountant network and solid GST support. But the client layer (profit per client, a portal, clean ad-spend billing) means add-ons, and multi-currency sits on the top tier.
Compare in detailQuickBooks
Strong general accounting, strongest on a US setup. Workable in Singapore, but card-first payments and weaker local depth.
Compare in detailAn outsourced bookkeeper + spreadsheets
Plenty of businesses run this way. It works, at the cost of a month's lag on your numbers and a spreadsheet holding the client-profit picture together.
Compare in detailChoose Punctual when…
- You're a Singapore business and want GST, InvoiceNow, PayNow and CPF handled in one system.
- You get paid in more than one currency and want profit per client on real books.
- You'd rather skip card fees and be paid by bank transfer, matched automatically.
Choose another when…
- Your accountant runs your books and insists on their platform.
- You're US-centred or need deep US tax features.
Fair questions
Asked before switching
Does Punctual handle GST and InvoiceNow?
Yes. GST is tracked on every invoice and bill at the right rate, e-invoices go out through the Peppol network built in, and your F5 numbers are kept in order as you go.
Does Punctual do Singapore payroll?
Yes: run payroll in a few clicks with CPF contributions worked out at current rates, and every run lands in your books automatically.
Can I move my data over from your current tool?
Yes. Connect your bank accounts and bring your contacts, open invoices and balances across, and Punctual reads your recent history and builds your books from it. Most businesses do the move in an afternoon.
Will my accountant be able to work with Punctual?
Yes. Punctual keeps real double-entry books with a proper profit and loss and balance sheet, and every number traces to its transactions. Invite your accountant free: seats are always included.
What does Punctual cost?
US$79 a month covers your workspace and your first company, and each company after that is US$39. Yearly is ten months for twelve. Every feature and your whole team are included, we take no cut of your payments, and there is a 30-day free trial.
Is my data locked in?
No. Export your books and records any time, in formats your accountant can use. Leaving easily is part of the deal, and it keeps us honest.
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