Business
Zoho Launches Singapore Edition of Zoho Books to Simplify GST Compliance and E-Invoicing for Businesses
Global technology leader Zoho Corporation has unveiled the Singapore Edition of Zoho Books, a comprehensive cloud-based accounting solution designed to simplify GST filing and ensure e-invoicing compliance for businesses across the country. This launch also introduces localized versions of other applications within Zoho’s finance and operations suite, offering SMEs and enterprises a robust platform to manage finances efficiently while adhering to Singapore’s regulatory frameworks.
Announcing the launch, Gibu Mathew, VP and GM, Zoho APAC, said, “The Singapore edition of Zoho Books is a significant leap in our commitment to digital transformation for businesses. With AI-powered automation, real-time GST updates, and e-invoicing readiness, Zoho Books empowers businesses to enhance accuracy, reduce compliance risks, and navigate an increasingly complex regulatory landscape with confidence.”
Addressing Singapore’s GST Compliance Challenges
A recent Zoho Singapore survey revealed that while 82% of Singaporean businesses find IRAS guidance on GST compliance straightforward, a large segment—32%—still relies on manual filing via the IRAS portal. Additionally, 71% of businesses spend up to five days preparing GST returns, citing challenges such as staying updated with regulatory changes, accurate tax calculations, and timely filings.
Zoho Books addresses these hurdles by automating GST calculations, generating IRAS-ready F5 returns, and providing real-time updates on regulatory changes. This reduces manual effort, minimizes errors, and ensures that businesses stay audit-ready, an increasingly critical need in light of IRAS recovering $162 million through audits in FY23/24, a majority stemming from compliance lapses.
Dashboard in the Singapore edition of Zoho Books
E-Invoicing Made Effortless
With built-in support for PEPPOL e-invoicing standards, Zoho Books allows B2B businesses to send invoices directly into their clients’ accounting systems. Integration with InvoiceNow is slated for launch soon, enabling seamless invoice submission to IRAS. Features like AI-driven receipt capture, PayNow payment collection, audit trail management, and workflow automation enhance business efficiency across operations.
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A Comprehensive Financial Ecosystem
In addition to Zoho Books, the localized finance suite includes:
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Zoho Inventory: Streamlined inventory management with GST and e-invoicing compliant invoicing.
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Zoho Billing: Subscription management, AR automation, and project billing capabilities.
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Zoho Invoice: A free invoicing tool designed for small businesses.
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Zoho Expense: End-to-end travel and expense management with self-booking and automated compliance.
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Zoho Commerce: E-commerce platform to manage online stores, integrated with GST-compliant invoicing.
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Zoho Practice: A collaborative platform for accounting professionals to manage client services with automated audit workflows.
All applications are built on Zoho’s unified platform, ensuring seamless interoperability, accurate data flow, and faster go-to-market implementations without extensive IT dependencies. The Singapore edition joins Zoho’s growing portfolio of 16 country-specific editions, tailored to local tax and compliance requirements.
The Singapore edition of Zoho Books is available immediately, starting at S$18 per month, with a free plan also offered for smaller businesses.
