MYOB
Accounting
Xero
Accounting
MYOB vs Xero in Singapore — which is right for your business?
Both are accounting tools used by Singapore businesses. Here is a side-by-side comparison covering SGD pricing, PSG eligibility, PDPA compliance, and local context to help you decide.
Singapore-specific comparison
| Criterion | MYOB | Xero |
|---|---|---|
| SGD pricing (incl. 9% GST) | S$4800/mo | S$39/mo |
| Free tier | No | Yes |
| PSG grant eligible | Yes — up to 50% | Yes — up to 50% |
| PDPA compliant | No | No |
| SG / APAC data centre | Not confirmed | Not confirmed |
| GST / InvoiceNow ready | Yes | No |
| PayNow / local bank feeds | No | No |
| CPF payroll support | Yes | No |
| SkillsFuture eligible | No | No |
Stackd verdict
MYOB
MYOB is a recognised accounting solution for Singaporean SMEs, providing a viable option for businesses looking to leverage government grants like PSG to digitalise their accounting processes, with implied support for local regulatory requirements.
Xero
Singaporean SMEs can significantly benefit from Xero's PSG eligibility, reducing the cost of digitalizing their financial management with a reliable, cloud-based accounting platform.
Pros & cons — Singapore view
MYOB
Pros
+PSG eligible for up to 50% subsidy on qualifying costs
+Listed as a pre-approved accounting solution for SMEs
+Supports financial management and potentially GST/CPF filing for Singapore businesses
Xero
Pros
+Eligible for PSG with up to 50% funding
+Supports multiple currencies
+Advanced reporting and performance dashboards
+Bulk reconcile transactions
Cons
–Optional modules for expenses and projects add to cost
–Starter plan limits invoices and bills, potentially insufficient for growing businesses
–Starter plan limits invoices (20) and bills (5)
Who should choose which
Choose MYOB if...
›SMEs (PSG eligible)
›Startups
›Businesses needing financial management
Choose Xero if...
›SMEs (PSG eligible)
›Growing small businesses
›Established businesses of all sizes
›Sole traders
Singapore FAQ
Is MYOB available in Singapore?
Yes, MYOB is listed as an accounting solution for Singaporean SMEs and is eligible for the Productivity Solutions Grant (PSG).
Does MYOB support SGD pricing?
The typical PSG grant amount for MYOB is listed in SGD (S$2,400-S$6,000), implying its cost is structured in SGD for Singaporean users.
Is MYOB PSG-eligible?
Yes, MYOB is explicitly listed as a PSG-eligible accounting solution under the 'Accounting' category.
Is MYOB PDPA compliant?
The provided search results do not specify if MYOB itself is PDPA compliant.
Want to explore each tool further?
Read our full Singapore reviews before deciding.