Singapore Accounting Software Showdown: ABSS vs SQL Account vs Xero vs QuickBooks for SMEs
- Agnes Lee
- Jun 9
- 3 min read
Choosing the right accounting system can make or break an SME’s efficiency, compliance, and growth potential. To simplify the decision, we’ve lined up four popular options—ABSS (formerly MYOB), SQL Account, Xero, and QuickBooks Online—and scored them against the criteria that matter most to Singapore‑based businesses.
What Really Matters for Singapore SMEs
GST Compliance & InvoiceNow – Automated GST reports and built‑in Peppol e‑invoicing.
Inventory & Job Costing – Depth of stock tracking, serial/batch, and job profitability.
Ease of Use & Local Support – Learning curve and access to Singapore‑based consultants.
Pricing & Grants – Eligibility for Productivity Solutions Grant (PSG) or other subsidies.
Feature Snapshot
Criteria | ABSS | SQL Account | Xero | QuickBooks Online |
Deployment | Desktop / Private Cloud | Desktop / Private Cloud / Hybrid | 100 % Cloud | 100 % Cloud |
GST & InvoiceNow | Built‑in GST + Peppol connector | Built‑in GST + Peppol connector | GST add‑on + Peppol via partner app | Manual GST; Peppol via third‑party |
Inventory Depth | Basic–Moderate | Advanced (batch, serial, BOM) | Basic (add‑on for advanced) | Basic (add-on for advanced) |
Job / Project Costing | Jobs & Categories built‑in | Jobs and Department codes | Projects module (paid add‑on) | Projects module (Plus plan) |
Bank Feeds | Yes (Selected bank SG banks) | N.A | Yes | Yes |
Mobile App | View | View / Approvals | Full invoicing & expenses | Full invoicing & expenses |
PSG Grant Eligibility | ✅ Up to 50 % | ✅ Up to 50 % | ✅ Up to 50 % | ✅ Up to 50 % |
Local Partner Network | Strong – many Certified Consultants | Extensive – deep SQL specialists | Strong- many Certified Consultants | Limited SG‑specific consultants |
Strengths & Trade‑Offs
ABSS (MYOB)
Strengths
• Familiar desktop interface.
• Jobs & Categories for granular reporting.
• PSG‑approved package reduces upfront cost.
Trade‑Offs
• Limited functions.
• Cannot do customization.
• Requires on‑premise Windows environment; no native Mac version.
SQL Account
Strengths
• Deep inventory with batch, serial, and BOM tracking.
• Highly customisable documents and approval flows.
• Built‑in InvoiceNow module with Access‑Point connector.
• Perpetual licensing keeps long‑term costs predictable.
Trade‑Offs
• No direct bank‑feed integration.
• Requires on‑premise Windows environment; no native Mac version.
Xero
Strengths
• Slick cloud interface with frequent updates.
• Large app ecosystem (1,000+ add‑ons).
• Powerful bank‑reconciliation and multi‑currency.
Trade‑Offs
• Limited functions.
• Advanced inventory and projects cost extra.
• Cannot do customization.
• No software ownership – pure subscription model.
QuickBooks Online
Strengths
• Competitive subscription tiers.
• Basic inventory features in the Plus plan; may not suit complex stock requirements.
• Customisable dashboard and strong mobile app.
Trade‑Offs
• Limited functions.
• Cannot do customization.
• No software ownership – pure subscription model.
• Smaller Singapore partner network.
Which One Should You Choose?
Pick ABSS if you want a well‑known, user‑friendly desktop solution that’s InvoiceNow‑ready
Pick SQL Account if deep inventory control, document customisation, perpetual licensing are top priorities and offers optional hybrid hosting.
Pick Xero if you want a pure‑cloud platform with a vast app marketplace and pay‑as‑you‑grow pricing.
Pick QuickBooks Online if you prefer a pure-cloud solution with straightforward invoicing and expense tracking, and you don't require deep inventory functionality.
Some SMEs combine systems—for example, ABSS for headquarters finance and SQL Account for inventory‑heavy branches.
Next Steps
List Your Must‑Haves –Pure cloud?
Request Live Demos – Test each system with your own sample data.
Check PSG Eligibility – ABSS and SQL Account may qualify for up to 50 % funding.
Plan Implementation – Budget time for data migration, training, and InvoiceNow setup.
Need unbiased guidance? Contact us for a side‑by‑side demo tailored to your workflow.
Choose smart—grow faster.
Commentaires