5 Accounting Software for Small Businesses in 2025

Small businesses, especially those in Singapore and the wider region, face the constant challenge of managing cash flow, invoicing, and regulatory compliance. The days of relying on manual ledgers or complex spreadsheets are now a thing of the past. Modern small business owners are turning to dedicated small business accounting software to streamline their financial operations.

The rising interest in these tools is driven by a need for solutions that offer payroll support, ease of use, and even no-cost options. In this guide, we’ll help you navigate the crowded market of accounting platforms and explore the top five solutions for 2025, comparing their prices, features, and ease of use. We’ll also demonstrate how pairing one of these accounting tools with an all-in-one HR platform, such as Omni HR, can significantly enhance your payroll and HR workflows.

What to Consider When Choosing Small Business Accounting Software

Selecting the right accounting software for small business can feel overwhelming, but focusing on a few key criteria can simplify the process.

Simplicity and ease of onboarding

For small business owners who may not have a dedicated accounting team, an intuitive user interface and a simple onboarding process are essential. The best solutions are designed for non-accountants, with clear dashboards and easy-to-understand features. Look for software that offers guided setup and readily available tutorials to get you up and running quickly.

Payroll support or integration

Managing payroll for small business is a critical function that can be complex due to local tax rules and statutory contributions. Some accounting solutions offer built-in payroll, while others rely on third-party add-ons. It's crucial to assess if the software can handle your specific payroll needs, especially if you need the easiest payroll software for small business. An integrated solution is often preferred as it prevents manual data entry and potential errors.

Pricing models

When choosing accounting software for small business, pricing is one of the major factors. Some platforms offer completely free plans with basic features, while others use tiered subscription models that provide more advanced tools and functionality. 

The best free online accounting software for small businesses can be a great entry point for startups, but it is important to evaluate whether the platform can grow alongside your needs. Many providers of small business accounting software offer monthly or annual subscriptions, so comparing these options is essential.

On another note, be sure to check for hidden costs, such as extra charges for additional users, advanced reporting, or even tools for managing payroll for small businesses. If you are looking for the best accounting tool for small business or even the best payroll and accounting software for small business, consider both affordability and long-term scalability. For teams just starting, finding the easiest payroll software for small business within your accounting system can also save time and reduce complexities.

Compliance with local tax rules

For businesses operating in specific regions like Singapore, compliance with local regulations, such as GST filing and statutory contributions (CPF), is non-negotiable. The chosen accounting software for small businesses must be up-to-date with the latest tax laws to ensure you remain compliant and avoid penalties. This includes automated calculations and easy-to-generate reports for tax purposes.

Other essential features

Beyond the core functions, the best accounting tool for small businesses goes further by offering features that deliver real-time financial visibility and improved efficiency. Key capabilities include:

• Mobile app: The ability to manage finances on the go is a huge benefit for busy business owners.
• Bank syncing: Automatic synchronization with your bank accounts saves time and ensures your financial data is always accurate.
• Real-time cash visibility: Dashboards that show your current cash flow at a glance allow for better financial decision-making.
• HR and payroll integration: Pairing your small business accounting software with an HR platform like Omni creates a seamless workflow. By connecting payroll, employee benefits, and expenses directly with your financial system, you reduce manual work, minimize potential errors, and make managing payroll for small business significantly easier.

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Top 5 Small Business Accounting Tools in 2025

Xero: Scalable Accounting Software for Small Businesses

Xero has established itself as a leading accounting software for small businesses, celebrated for its modern interface and powerful features. It offers a comprehensive suite of tools for invoicing, inventory management, expense tracking, and bank reconciliation. One of Xero's key strengths is its scalability, as it can easily accommodate businesses as they grow, from a solo freelancer to a team with a growing employee count. 

Its large marketplace of over 1,000 app integrations makes it a highly flexible and customizable solution. For businesses seeking a forward-thinking and robust small business accounting software, Xero is an excellent choice.

QuickBooks: Best Payroll and Accounting Software for Small Business

Intuit's QuickBooks remains a giant in the accounting world and is often cited as the best payroll and accounting software for small business. It provides a powerful, all-in-one solution that seamlessly combines accounting, invoicing, and payroll. 

This integration is a huge advantage for companies that want to manage their finances and employee compensation from a single platform. Its payroll features are particularly strong, handling tax calculations and direct deposits, which makes it a contender for the easiest payroll software for small businesses. QuickBooks is well-suited for businesses that prioritize a comprehensive, integrated system.

Zoho Books: Best Free Online Accounting Software for Small Business

For startups and micro-businesses operating on a tight budget, Zoho Books offers an impressive free plan that earns it the title of best free online accounting software for small business. This plan includes essential features like invoicing for up to 1,000 invoices per year, expense tracking, and financial reporting. While the free version is an excellent starting point, Zoho Books also offers paid tiers with more advanced capabilities. It is a great option for businesses that need a capable accounting software for small business without the upfront cost.

Wave Accounting: Free Accounting Software with Basic Payroll

Wave Accounting is another strong option for businesses looking for a free solution. It provides a free suite of accounting tools, including invoicing, income and expense tracking, and financial statements. 

While its core accounting features are free, Wave also offers paid add-ons for payroll and payment processing. Its basic payroll functions can be a good fit for companies with simple payroll needs, making it a viable free alternative. Wave is particularly appealing to freelancers and small service-based businesses who need a reliable system for managing their finances without a monthly subscription.

FreshBooks: Easy-to-Use Tool for Invoice-Driven Businesses

FreshBooks excels in its focus on invoicing and client management, making it an ideal tool for freelancers and small businesses that primarily sell services. Its user-friendly design simplifies the process of creating professional invoices, tracking time, and collecting payments. While it may not offer the same depth of features as a more traditional accounting solution, its ease of use is a major selling point. FreshBooks also provides options for payroll, positioning it as an easy-to-use tool for businesses looking for a comprehensive solution for managing their finances and compensation.

How Omni HR Elevates Your Accounting Software Choice

While the best accounting software for small businesses provides powerful financial management, most solutions often stop short when it comes to HR and payroll. This is where Omni HR comes in. By pairing your chosen small business accounting software with Omni, you create a more efficient and compliant workflow, particularly for managing payroll for small businesses in Singapore.

Automated payroll with local compliance

Omni automates payroll calculations, statutory contributions like CPF, EPF, MPF, and SOCSO, removing the risk of manual errors and ensuring full compliance. This makes it an ideal solution for businesses looking for the easiest payroll software for small businesses.

“Payroll calculations that used to take three to five working days can now be done in half the time with Omni.”
 — Tengku Mohaizad, Group Head of HR Asia at Inspire Brands Asia

For business owners seeking the easiest payroll software for small businesses, Omni pairs effortlessly with accounting tools like Xero to become the best payroll and accounting software for small businesses.

Seamless data syncing across HR & accounting

Manual data entry is one of the biggest causes of payroll errors. Omni solves this with bi-directional syncing, ensuring that employee records, attendance, leave, and expense data flow seamlessly into your accounting software for small businesses. 

“Omni allows us to extract accurate data, which makes it a great platform for timekeeping and payroll.” 
— Iron Mike Minguez, HR Admin Assistant at Dev Team

This eliminates costly mistakes and frees up your team to focus on growth instead of repetitive admin tasks.

Integrated HR workflows

Omni HR goes beyond payroll by integrating essential HR functions into a single platform covering the entire employee lifecycle. From onboarding with digital contracts to time-off management, attendance tracking, performance reviews, and employee self-service portals, everything your HR team needs lives in one modern, intuitive platform that grows with your needs.

“Thanks to Omni, our onboarding process has become quick and easy! The automated workflows and streamlined data management have made our HR procedures seamless.” 
— Wiji Mulyati, Engagement & Experience Lead at Ajaib

When integrated with your small business accounting software, this unified, automated workflow gives you the visibility and control to scale your business with confidence.

Built for modern small businesses in APAC

Unlike legacy HR systems, Omni is designed for modern, growing teams in Singapore and across APAC. With same-day local support, multi-country payroll (190+ countries, 10+ languages), and an intuitive mobile app, Omni is as simple for employees to use as it is powerful for HR teams to manage. 

Scalable, transparent, and cost-effective

Omni grows with you. With transparent pricing that starts from just US$3 per employee per month, scalable architecture, and audit-ready reporting, you will never have to worry about hidden costs or outgrowing your system as your business expands. 

Find the pricing plan that fits your budget

By integrating a specialized payroll and HR platform like Omni HR with your small business accounting software, you create a unified, compliant, and scalable system for payroll and people management. 

This powerful combination lets you: 

• Automate payroll with zero errors.
• Ensure compliance across APAC.
• Sync data automatically with your accounting software.
• Streamline HR workflows from onboarding to performance.
• Empower employees with self-service tools.

Book your product tour today and see why Omni is the best accounting and HR solution for small businesses in Singapore and beyond.