Aspire launches AI accounting tool AspireBooks in Singapore

Aspire has launched AspireBooks, an AI-powered accounting product built into its financial platform. Available in Singapore, it marks the company's move into accounting software.

AspireBooks combines bookkeeping, reconciliation and financial reporting in the same system customers use to manage payments and other finance tasks. It is aimed at businesses operating across currencies and markets that want to avoid moving data between separate banking and accounting tools.

The launch puts Aspire into a market long led by specialist accounting software providers including Xero and QuickBooks. It also expands Aspire's offering beyond payments and finance operations into core accounting workflows.

Businesses have traditionally handled money movement and accounting in separate systems, leaving finance teams to classify transactions and reconcile records after the fact, Aspire said. AspireBooks is designed to change that by updating books as transactions occur, with users reviewing and approving entries rather than rebuilding records at month-end.

According to Aspire, the software uses AI agents to classify transactions, suggest accounting categories and tax treatment, and match payments to invoices and bills. This keeps financial records current and keeps profit and loss statements, balance sheets, trial balances, and general ledger reports up to date.

Multicurrency accounting is central to the launch. Customers can record and manage transactions across several currencies, a feature aimed at businesses with cross-border operations.

The product also includes a feature linked to Aspire's Model Context Protocol integration, allowing customers to ask questions about financial statements in plain language and receive recommendations. A multi-entity function is due to follow, enabling businesses to manage books for several entities in one place.

Aspire developed the product with Singapore Accountants, which provided input on Singapore accounting standards and supported customer testing. The collaboration reflects Aspire's focus on local compliance as it enters a software segment where accuracy and alignment with standards are closely scrutinised.

Aspire cited internal research in support of the launch, saying 41% of its customers still manage bookkeeping manually and 63% would consider using an AI-based accounting tool. The figures suggest an opening for software that reduces manual work while remaining embedded in existing finance processes.

Andrea Baronchelli, Co-Founder and Chief Executive Officer of Aspire, said the launch is intended to address the longstanding split between banking and accounting systems.

"In all my years as a founder, I've seen how much time businesses spend trying to close their books. It's a recurring headache, largely because corporate banking and accounting have always operated as two separate worlds," said Andrea Baronchelli, Co-Founder and Chief Executive Officer of Aspire.

"With AspireBooks, we're bringing these two worlds together so accounting happens as a natural part of running a business, rather than becoming a separate exercise at the end of every month," Baronchelli said.

Haroon Naseer, Director of Financial Reporting at Singapore Accountants, said the product was shaped to reduce routine work for finance teams while keeping accountants involved in oversight and compliance.

"For growing businesses, the real value of accounting lies in decision-making, not data entry. By embedding accounting within the platform where money already moves and applying AI to the repetitive work of categorisation and reconciliation, AspireBooks keeps the books current and frees the accountant's time for review, compliance and advice. We are proud to have helped shape it as a founding accounting partner," said Haroon Naseer, Director of Financial Reporting at Singapore Accountants.

AspireBooks is priced at S$39 a month in Singapore, with a three-month introductory free period. Aspire serves more than 50,000 businesses in more than 30 markets and employs more than 500 people across nine countries.