In this guide · 7 sections
Short answer
Zoho Books is cheaper: a free plan for small revenue, then from S$15 a month billed yearly with bank feeds and multi-currency. QuickBooks Online runs S$31 to S$124 a month by user count. Neither files GST F5 for you, and neither was on IMDA's InvoiceNow-Ready list dated 12 October 2026.
QuickBooks Online vs Zoho Books at a glance
Both are cloud accounting tools with Singapore editions. The main differences for a small business, as of October 2026:
QuickBooks Online
Per-user tiersS$31 to S$124/month
- Plans set by user count: 1, 3, 5 or 25 users
- Accountant access on top of your user count
- Multi-currency from Essentials; inventory from Plus
- Direct bank feed documented for DBS IDEAL
- Frequent promotions (90% off 6 months at the time of writing)
Best for: Teams who know QuickBooks or need project and inventory tools.
Zoho Books
Lowest costFree, then S$15 to S$45/month (yearly)
- Free plan while revenue stays under US$50,000
- Standard adds bank feeds, multi-currency and 3 users
- F5 return prepared for you to review
- Fits with other Zoho apps (CRM, Inventory)
- Prices before tax
Best for: Micro and small businesses watching cost, or already on Zoho.
Sources: QuickBooks Singapore pricing and Zoho Books Singapore pricing, read October 2026. Both vendors change promotions often, so confirm the price at checkout.
SGD plan prices and user limits
This is where the two differ most. QuickBooks prices by number of users; Zoho Books starts lower and adds users more cheaply.
| Plan level | QuickBooks Online | Users | Zoho Books (billed yearly) | Users |
|---|---|---|---|---|
| Entry | Simple Start S$31 | 1 | Free S$0 | 1 + accountant |
| Small team | Essentials S$57 | 3 | Standard S$15 | 3 |
| Growing | Plus S$78.99 | 5 | Professional S$30 | 5 |
| Larger | Advanced S$124 | 25 | Premium S$45 | 10 |
QuickBooks' Singapore help says invited accountant users do not count toward your plan's user limit. Zoho's free plan is meant for micro businesses: Zoho's pricing page limits it to businesses whose revenue for the financial year stays under US$50,000.
GST F5 returns and InvoiceNow
For GST-registered businesses, this section matters more than price.
- GST F5: both prepare GST reports, but you submit the return in IRAS's myTax Portal yourself. QuickBooks' Singapore help on filing a GST return says you cannot e-file from inside QuickBooks; Zoho's F5 return help describes generating the return for review and export.
- InvoiceNow: IRAS is phasing in GST InvoiceNow, which requires invoice data to go through the Peppol network. IMDA's InvoiceNow-Ready Solution Provider list, updated as of 12 October 2026, did not include QuickBooks or Zoho Books. QuickBooks has an e-invoicing set-up in its Compliance centre and describes itself as pending full IMDA accreditation.
See our guide to choosing an InvoiceNow Access Point provider for how Access Points and InvoiceNow-Ready software differ.
Bank feeds, multi-currency and other features
The everyday features that save the most time:
| Feature | QuickBooks Online | Zoho Books |
|---|---|---|
| Automatic bank feeds | Documented direct feed for DBS IDEAL; other banks via Connect account where supported | Standard plan and above; Free plan uses statement imports |
| Multi-currency | Essentials, Plus and Advanced (not Simple Start); cannot be turned off once on | Standard plan and above |
| Inventory | Plus and Advanced | Professional and above |
| Class / location tracking | Plus (up to 40 combined) and Advanced (unlimited) | Projects from Professional |
If you deal in USD or other currencies regularly, the cheapest workable plan is Zoho Books Standard or QuickBooks Essentials. QuickBooks' help warns that once multi-currency is on you cannot turn it off or move down to Simple Start.
Which one suits your business
A quick way to decide:
Choose QuickBooks Online if
- Your accountant or bookkeeper already works in QuickBooks
- You need project tracking, classes or locations
- You want phone support included
- You expect up to 25 users later
Choose Zoho Books if
- Revenue is small and cost matters most
- You already use Zoho CRM, Inventory or Mail
- You want multi-currency on the cheapest paid plan
- Three users at S$15 a month covers your team
If GST InvoiceNow is close for you, also weigh Xero, which was on IMDA's list. Our guides on Xero vs QuickBooks in Singapore and Zoho Books vs Xero cover that comparison.
Do it yourself or get help?
Both tools can be set up by a careful owner in an afternoon. The set-up steps that matter most:
Set-up checklist
IT Sorted is a Singapore-based team of developers with over 10 years of experience. Our Accounting Software Setup (S$490) helps you choose between Xero, QuickBooks Online and Zoho Books, sets up the organisation in your company name on your own subscription, agrees the chart of accounts and tax settings with your accountant, connects bank feeds for up to 2 accounts, and sets up up to 5 users. Moving from another system? Accounting Migration starts from S$690. We set up and migrate; we do not do bookkeeping.
Frequently asked questions
Yes, as of October 2026. Zoho Books has a free plan for businesses with revenue under US$50,000 a year and paid plans from S$15 a month billed yearly for three users. QuickBooks Online starts at S$31 a month for one user, rising to S$124 for 25 users, before promotional discounts.
Neither files the GST F5 directly. QuickBooks' Singapore help says you cannot e-file from inside QuickBooks, and Zoho Books generates the F5 return for you to review and export. In both cases you submit the return yourself through myTax Portal, usually after your accountant checks it.
Neither appeared on IMDA's InvoiceNow-Ready Solution Provider list updated as of 12 October 2026. QuickBooks offers e-invoicing set-up in its Compliance centre and says it is pending full IMDA accreditation. Check the latest IMDA list before choosing software if GST InvoiceNow applies to you.
QuickBooks Online Essentials, Plus and Advanced include multi-currency in Singapore; Simple Start does not. QuickBooks warns that once multi-currency is turned on it cannot be turned off, and you can no longer move down to Simple Start, so check with your accountant first.
Yes. Contacts, items, open invoices and opening balances can be exported from QuickBooks and imported into Zoho Books, with balances entered as at a conversion date agreed with your accountant. Full transaction history is harder to move, so many businesses keep the old system read-only for reference.