Best of · Accounting & Invoicing
We assessed each one on invoicing, reconciliation and GST returns from its documentation, pricing and user feedback, with hands-on testing to follow. Here is what we would actually pay for in 2026, ranked on daily use, local compliance and price, not on who pays a commission.
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Our picks
If you only read one line: for most GST registered SMEs, buy Xero. The rest depends on your budget and where you already work.
Xero
Cloud accounting
The calmest daily workflow, native GST returns, and IRAS InvoiceNow built in. Worth the higher entry price for most businesses.
Wave
Free accounting
Genuinely free books for a freelancer or micro business. You feel the ceiling on local tax as you grow, but the price is right.
Zoho Books
Cloud accounting
The most software for the money, and unbeatable if you already run other Zoho apps. A touch fiddlier to set up on its own.
QuickBooks
Cloud accounting
A slightly cheaper entry and deeper reporting. The pick if your accountant already lives in Intuit or you want granular numbers.
Side by side
Scored ones we have researched; the desktop names at the bottom are tracked but not yet reviewed, so they carry no score.
| Software | Our score | From | GST + InvoiceNow | Best for | State |
|---|---|---|---|---|---|
| Xerocloud | 8.7 | S$32/mo | Built in | Most SG & MY SMEs | Review → |
| Zoho Bookscloud | 8.3 | S$15/mo | Built in | Zoho-suite users, value | Review → |
| QuickBookscloud | 8.1 | S$30/mo | Built in | Reporting, Intuit users | Review → |
| Financiocloud · MY | 7.8 | RM39/mo | SST + MyInvois | Malaysian SMEs | Review → |
| Wavecloud | 7.6 | Free | Limited | Freelancers, micro | Review → |
| SQL Accountdesktop · MY | not scored | licence | SST focus | MY desktop bookkeeping | Listed |
| MYOB (now ABSS)desktop + cloud · SG & MY | 6.8 | S$349/yr | Trial only | Existing MYOB shops | Review → |
Scores are out of 10. Prices are entry tier before local tax.
How we picked
How each tool handles an invoice, a bank reconciliation and a GST return, from its documentation, pricing and user feedback. Hands-on testing follows, and each review is labelled with how we reached it.
GST and SST, IRAS InvoiceNow and LHDN MyInvois, PayNow and DuitNow. The checks US and UK lists skip.
Free tools sit next to paid ones. Nothing is ranked higher, or added, because it pays us a referral fee.
Value is scored against a real small-business budget, not enterprise feature lists you will never touch.
The shortlist
The one to beat. The cleanest day-to-day accounting in its class, with native GST returns and IRAS InvoiceNow through Peppol. Unlimited users on every plan is a quiet advantage over QuickBooks. It costs more to start, and for most GST registered SG and MY businesses it earns the premium.
The value play. Starts at a third of Xero's price and does almost everything an SME needs, with GST and InvoiceNow handled. It shines if you already use Zoho CRM or Inventory; standalone, the setup is a little more hands-on and the interface busier.
The global leader. Files GST and connects to InvoiceNow like Xero, at a slightly lower entry price, with deeper and more granular reporting. The interface is busier and users are capped by tier. A strong pick if your accountant is already in the Intuit world.
Built for Malaysia. A Malaysian cloud tool with SST and LHDN MyInvois front and centre, at a low ringgit price. We have assessed it from documentation and pricing rather than a full hands-on run yet, so it carries a research based score for now.
Free, and enough to start. Invoicing and basic bookkeeping at no cost, which is remarkable for a freelancer or a business finding its feet. Local GST handling and reporting are where you feel the ceiling, and there is no InvoiceNow path yet.
The name you knew, rebranded. MYOB South Asia became ABSS in 2018, and its Accounting and Premier lines continue the MYOB software two decades of SG and MY firms grew up on. Compliance is solid, GST, SST and e-invoicing included, but the interface is desktop-era and support for legacy MYOB versions ended in March 2026. Best for existing MYOB shops deciding what next; new buyers should start with the cloud tools above.
The other long-standing desktop name for Malaysian bookkeeping. Many accountants still run on it, so we track it for completeness. It is on our list to test hands-on; until then it carries no score, because we have not used it properly yet.
FAQ
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