Is Xero worth it for a very small company?

If you're GST-registered, carry inventory, or have a team and an accountant working in the file daily — yes. If you're a sub-S$1M, non-GST company that needs clean books and IRAS-format outputs once a year, you're paying for (and learning) far more machine than the job needs.

Does Xero prepare the IRAS tax computation?

Not by itself — Xero produces accounting reports, and the IRAS-format tax computation and unaudited financial statements pack are typically prepared by your accountant or an add-on service on top. Bookly produces the IRAS-format computation and FS pack directly.

What does Xero cost in Singapore?

Published Singapore plans run from about S$39/month (Starter, with usage limits) to S$70 (Growing) and S$95 (Premium) before GST, with introductory promotions for new subscribers. The bigger cost is usually the bookkeeper many owners still pay to drive it.

Xero alternative for small Singapore companies: when you need it, when you don't

Let's be fair first: Xero is excellent software. If your company is GST-registered, holds inventory, runs multi-currency at volume, or has an accountant working in the file every week, it's a fine choice. But most small Singapore companies aren't that — and for them the honest question isn't "which accounting software?" but "who is going to do the bookkeeping?"

The part nobody tells you

Xero is a tool, not a worker. Someone still has to categorise every bank line, chase the receipts, reconcile the months and produce year-end statements — which is why so many small companies end up paying a bookkeeper on top of the subscription to operate it. The software bill (S$39–95/month list, before GST) is the small half of the real cost.

The honest comparison

	Xero	Bookly
Published price	~S$39–95/mo + GST	S$29–99/mo (annual billing)
Who categorises the transactions	You (or your bookkeeper)	Bookly reads the documents; you review
IRAS-format tax computation	Via your accountant / add-ons	Built in
Unaudited FS pack (directors' statement, notes)	Via your accountant / add-ons	Built in (PDF + Excel)
Singapore payroll (CPF/SDL/SHG)	Third-party apps	Built in (Pro plan)
Best for	GST, inventory, teams, advisors	Sub-S$1M, non-GST, owner-run companies

Xero prices as published for Singapore at June 2026, before GST; promotional rates for new subscribers vary. Check xero.com/sg for current plans.

When you should pick Xero anyway

You're GST-registered (or about to cross S$1M revenue) — Bookly deliberately doesn't do GST.
You carry inventory or need purchase-order workflows.
Multiple people (and your accountant) need to work in the file together.

That's the honest line. On the other side of it — one director, under S$1M, no GST, needs clean books and filing-ready outputs once a year — paying S$70/month to do your own data entry is the expensive way. See the full cost picture in what bookkeeping costs in Singapore.

Try the difference on a real statement: upload last month's bank statement and watch Bookly categorise it — free for 30 documents, no card needed.

Xero is a trademark of Xero Limited; Bookly is not affiliated with Xero. Comparison reflects published information at June 2026 — verify current features and pricing with each provider.