Unlike some other accounting software packages such as MYOB and Quickbooks, Xero does not yet come with setup for Singapore out of the box.
The good news is that Xero is very flexible, and all Singapore-relevant policies can be set up. Many businesses are satisfied Xero users of Xero.
These are the areas that need to be taken into account:
- Payroll: needs to be made compliant with CPF
- Income Tax: Can be optimised for PIC and Tax filing
- GST: Needs to be set up to be GST compliant
- Staff training: The staff using Xero needs to know how to use it accurately.
Xero comes with a slew of other features such as MSWord Invoice customisation, Bank Feeds, and Tracking categories that can help you save time and better understand your business.
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