To set up Zoho Books in Singapore, create the organisation with SGD as base currency, enter your UEN and GST details if registered, build the chart of accounts, configure GST rates and invoice templates, connect bank accounts, import opening balances and test a month-end close before going live.
A tidy accounting set-up saves hours every month and makes the annual filing season calmer. Singapore SMEs often switch to cloud accounting when GST, multi-currency invoices and e-invoicing start to outgrow spreadsheets. This step-by-step checklist walks through configuring Zoho Books for Singapore, from organisation settings to your first month-end close.
Key takeaways
- Get the foundations right first: legal name, UEN, financial year end and SGD base currency.
- Configure GST only if you are registered, and confirm rates and treatments with IRAS guidance.
- Ask your accountant to review the chart of accounts before opening balances are imported.
- Check current InvoiceNow requirements and your software's readiness for e-invoicing.
- Practise a month-end close in parallel before relying on the new books.
1What do you need before you start?
Gather your ACRA business profile, UEN, GST registration details if applicable, financial year end, bank statements, a trial balance and lists of customers, suppliers and open invoices. Decide who owns the books, who approves bills and who reviews reports. A short plan avoids rework, and our Zoho Books accounting in Singapore service follows exactly this order.
Company facts
Legal name, UEN, address and year end.
Financial data
Trial balance, open items and bank statements.
People
Owner, approver and reviewer for each task.
2How do you configure organisation and currency settings?
Create the organisation, select Singapore as the country, choose SGD as the base currency and set the financial year start to match your accounting year. Add foreign currencies you actually invoice in, such as USD or MYR, and decide how exchange rates are updated. Changing the base currency later is difficult, so confirm it now. Set your time zone, date format and fiscal year before entering any transactions.
3How do you set up GST correctly?
If you are GST-registered, enter your GST registration number and set the current standard rate, which is 9% at the time of writing, then create codes for standard-rated, zero-rated, exempt and out-of-scope supplies. Review each with your accountant, because treatment depends on the transaction. Confirm current rules on the IRAS website before relying on any setting. For return preparation help, see Singapore GST filing.
| Item | Setting | Check with |
|---|---|---|
| GST registration no. | Organisation profile | IRAS notice |
| Standard rate | Tax settings | IRAS website |
| Zero-rated exports | Separate tax code | Accountant |
| Exempt supplies | Separate tax code | Accountant |
Get expert advice on this topic
Leave your details and a certified Zoho consultant will call you back, free and with no obligation.
Thank you!
A certified Zoho consultant will contact you shortly.
4What should your chart of accounts look like?
Start from the default chart and adapt it to your reporting needs. Keep accounts meaningful but not excessive; fifty well-named accounts beat three hundred unused ones. Align accounts with the financial statements your accountant prepares, including the framework you follow such as SFRS for small entities where applicable. Add tracking tags or departments only if management genuinely uses them. Lock the structure before importing balances.
Assets
Bank, receivables, prepayments, fixed assets.
Liabilities
Payables, GST, loans, accruals.
Income and expense
Grouped as your accountant reports them.
5How do you connect banks and prepare for InvoiceNow?
Connect bank feeds where your bank is supported, or import statements, and create bank rules for recurring items. IRAS has announced a phased GST InvoiceNow requirement for GST-registered businesses, so check the current status and what applies to you. Confirm with your software provider how e-invoice transmission over the Peppol-based network will work in your plan before relying on it. Build clean customer records with correct UENs and addresses now, as e-invoicing depends on accurate master data.
6How do you import opening balances and test invoices?
Import customers, suppliers, items and opening balances as at the last closed period, then reconcile against your trial balance. Create invoice and quote templates with your logo, UEN, GST number and payment terms, and send test documents to yourself. Check PayNow or bank transfer details on invoices. Reconcile the import before posting new transactions so mistakes do not compound.
- Import contacts and items.
- Post opening balances.
- Match to the trial balance.
- Send test invoices.
- Reconcile one bank account fully.
7What does a good month-end routine look like?
Reconcile banks, review aged receivables and payables, post accruals and depreciation, check GST reports against the ledger and lock the period. Share a simple management pack with the owner. After two clean months, consider connecting Zoho CRM and reviewing approval workflows. If you want an expert to set this up with you, book a free consultation, or read more on the ERPHUBs Singapore blog.
Zoho Books accounting Singapore
Get Zoho Books configured for Singapore GST and reporting by an independent Zoho Authorized Partner.
Frequently asked questions
Yes. Zoho Books offers Singapore GST settings, tax codes and reports. Rates and treatments change, so confirm current rules on the IRAS website and with your accountant before you file.
Yes. You can invoice in foreign currencies and track exchange differences, with SGD as your base currency. Decide on an exchange rate policy so month-end revaluation is consistent.
Requirements and software readiness change over time. Check IRAS guidance and ask your provider about current e-invoicing support for your plan before assuming any feature is available.
A simple SME can be configured in days, with testing taking a few weeks. Companies with many open items, multiple currencies or several entities take longer, so plan around a period end.
It is strongly recommended for the chart of accounts and GST settings, even if you manage daily bookkeeping yourself. An accountant helps prevent set-up errors that are costly to fix later.