Accounting displays the financial health of a business. For any small or big business- ascertaining profits, and maintaining books of accounts supports in keeping a tab on the financial position of the business. Financial accounting maneuvers involve complex scenarios, huge operational budget, more customers, and gigantic ledger records. As the business grows, it faces shortcomings in handling enormous books of accounts and fiddle with adequate tools. Practicing good financial bookkeeping and engaging right accounting software provides a straightforward, initiative and powerful accounting solution.
So, how does a business manage financial accounting and get rid of maintaining mammoth ledger entries? Accounting Software is an answer to all business probes! Accounting is an integral part of a business organization and helps in learning the insights of profitability and losses. A simple accounting software system enables the business to keep records of expenditures and income and automate reporting tasks by eliminating consolidated manual entries.
Software Development companies have introduced simplified accounting software that eases out the tiring task of manual ledger entries and eliminating human errors. The accounting software has come as a reform in the business management world. The software is used by all types of business indispensable of their size and type. What’s more remarkable is that even the start-up companies are integrating accounting software in the system for the basic functionalities the software has to offer.
India, one of the most glorified countries for its 7% projected economic growth, has seen reforms in its tax structure. Recently, Indian law replaced various indirect taxes with one indirect tax- GST for the entire country. GST has been updated in 4 different slab rates and requires extreme calculations. Performing bookkeeping the process and keeping a tab on varied GST rates is next to impossible for manual operators. Hence, software development companies in India have introduced simple accounting software incubated with GST features to make the accounting process compatible with the latest tax structure.
In this article, we present you top 10 accounting software for small and mid-size business in India. This accounting software is feature-ready to satisfy all the obligations of the current Tax structure of India. The software is scalable, supportive, reliable, and have standardized features to host general accounting process.
What are the best accounting software in India?
Here is a list of Top 10 Accounting Softwares in India
1. Tally.ERP 9
Tally.ERP 9 tops our list of accounting software as an end-to-end solution to GST statutory regulations as current reformer changes get in the financial accounting system of India. Tally is equipped with error detection capabilities that minimize any chances of rejection in GST returns. Starting from creating invoices, creating ledgers, printing cheques, stock aging analysis, cost estimates, profit analysis, auto bank reconciliation, or any critical overviews; Tally is your business acquiescence partner. As your business grows, Tally helps in generating instant reports and makes quick decisions. Tally is a simplified yet unique solution that allows the business to handle accounting and manufacturing details by implementing minimum resources.
Key Benefits Of Tally.ERP 9
» Manage your Accounts easily : Tally streamlines with unique ways to offer simplified solutions to complex parts of the business. View reports and profit analysis to make quick decisions for the business. Get bird’s eye view on each ledger to manage capital control and manage complexities of accounting.
» Your One-Stop Gst Ready Solution : GST is the newest statutory changes in the Indian tax system. It has been further divided into 4 different slabs that require thorough business compliance. Tally.ERP 9 enables filing of easy and error-free GST returns. Now it is possible to minimize chances of GST rejection with Tally as your compliance partner.
» Banking made easy for you : It is possible to generate auto bank reconciliation to save time and manual errors. Tally.ERP 9 ensures neater invoice presentation and keeps a track of all the post-dated cheques and bank transactions. Not only banking, but users can also maintain cash receipts and payments through easy tracking facility.
» Take decision on the go : A final detail report for stock aging analysis, profit analysis, cash, and bank transaction helps in making business decisions. Tally.ERP9 helps in analyzing outstanding reports and cost estimates and year ending profits for better financial growth of the business. Users can use advanced filters, alteration, and comparison techniques in order to get the right detail.
New age businesses look forward to embracing accounting software that provides seamless, comprehensive data on one single tool. QuickBooks India is the comprehensive modern accounting management tool which offers you the best for your business. The software allows enterprises to track sales, create and send invoices, and derive a database from the cloud-based portal. QuickBooks is for novice users and does not require any expertise in financial accounts handling. The software is equipped with powerful invoicing features, payment reminders, sales, and inventory tracking, auto banking resolution, and easy navigation interface. QuickBooks simplifies tasks and provides a 360-degree view of the business from anywhere.
Key Benefits of QuickBooks India
» Access your account, manage your business, and stay organized anytime, anywhere on your computer, mobile or tablet : Irrespective of your location or what device you use, QuickBooks allows access to your accounts and helps in managing the business. QuickBooks is the right accounting software in terms of its accessibility and features that are necessary for every growing business.
» Create custom, professional invoices, sales receipts and estimates that you can send in minutes : QuickBooks is a perfect accounting solution that enables customized features that suits different business segments. The software features a powerful invoice tracking system, sales order management, and cost management system to make your team more efficient and result worthy.
» With the QuickBooks Online banking integration feature, your statements and transactions will automatically update : Connect your bank accounts with QuickBooks to categorize transaction and derive auto bank reconciliation reports. Sync the transaction for an easy snap view of featured statements of transactions. Get a real-time view of your cash receivable and payables with online banking integration.
3. Zoho Books
Zoho Books is a popular online accounting software in India, which acts as an integrated platform for end-to-end financial solution. Zoho Books is GST compliant, automates business workflow, and manages financial accounting and help in managing departments collectively from one single source. According to finance expert, Zoho Books is one of the most preferred accounting solutions for growing business. Right from maintaining sales orders and invoicing, Zoho Books mundane GST invoices, bookkeeping, huge ledgers, and various accounting tasks. Zoho Books is feature-packed to manage cash receivables, payables, banking, inventory, timesheets, and business contacts and generate reports. Zoho Books is available at affordable pricing to make you GST filing experience easier and error free!
Key Benefits of Zoho Books
» End-to-end accounting : Zoho Books is an efficient end to end accounting solution for error-free invoicing. Handle sales order, invoices and negotiate mundane accounting tasks with this software. Management can now completely focus on business development without having anything to worry about account management.
» GST compliance : It is imperative to know your tax liability, file returns, and make your business GST compliance. Zoho Books is one of the top 10 accounting software in India, which eliminates your tax liability and aids in fling error-free returns. Zoho Books is your GST compliance partner with all the necessary tools to overcome cancellations fear of tax returns.
» Integrated platform : Zoho Books is enriched with more than 40 apps that overpower business accounting woos. As your business grows, Zoho Books can be integrated with additional apps that help in tracking business irrespective of location. It is possible to keep a track on business accounting whereabouts from anywhere in the world.
» Create e-way bills for consignment : Zoho Books enables auto-detection of consignments and transactions that require e-way bills. Capture e-way bills in your invoices and transport copies to the designated customers and keep a record in different departments through Zoho Books easy e-way billing system.
MargERP 9+ is a GST enabled inventory and accounting software in India that makes GST billing and filing easy. Generate batch wise invoice, get detailed information on a business transaction, avail auto bank reconciliation, encode and centralize barcode, and push GST transaction on the portal. MargERP 9+ helps in selecting the right GST slab and segregate transactions accordingly. The software directs detailed and automates calculations of SGST, CGST, and IGST. MargERP9+ is a trade specialized solution that is highly affordable in price and customizable in features. With more than 2500 software configuration and 500 tutorial videos, the software is easy to implement and lets you build functionality to business support.
Key Benefits of MargERP 9+
» GST Compliant : Effective accounting software with GST compliant features helps in generating effective financial reports, accomplish tax calculations, and help to file GST returns easily. Business can generate GST invoices and reports for better tax reporting.
» Easy Implementation : Downloading this powerful software proclaims instant billing and managing inventory records. The local centers help in implementing the software easily. There is multiple customer care executive that offers full-time support with updated tutorials and manuals.
» Customizable and collaborative : Automating business workflow as per company’s requirement is an essential layer of functionality. MargErp9+ customizes invoices as per business demands and supports the most unique business models.
MargErp9+ allows the business to derive invoices, send orders and track server progress by establishing collaboration between suppliers and business. Without charging additional fees, Marg ERP 9+ offers extreme partnership.
» The customer drove and business booster : Boosting business can be rewarding and gives your business the advantage of competing in the market. With impressive features and flexible approach, MargERP9+ allows timely advancements and innovations. Business can look forward to improving business performance and maximizing benefits with the self-customization platform.
Vyapar tops the list of accounting software for small Indian businesses. The accounting software is a free platform that allows maintaining invoice, getting inventory records, managing books of accounts, and tracking daily business activities while focusing on business growth rate. The software eliminates paperwork and helps business management to utilize productive time on business development. Since most of the small sector business needs a digital upgrade, Vyapar acts as an effective solution. Vyapar is GST compliant and allows error-free tax returns while eliminating errors occurred with manual calculations. Vyapar takes charge to control individual units of the business, creates customizable invoices, and automates payment reminders.
Key Benefits of Vyapar
» Become GST compatible : GST has become an essential part of the business tax system that requires computerized calculation. Small sector business becomes GST compatible with Vyapar as it offers a digitalized platform for maintaining different tax slabs. Business can now easily file returns and without any hassle of manual errors.
» Manage all parties in one single place and market business much easily : Centralizing all business records and collaborating with suppliers, vendors are two essential part of a successful business. Vyapar has brought in digital reform in business by allowing the business to manage all the parties, generate invoices, and stay ahead in the market.
» Set up “Auto Backup” and secure business accounting data against accidental data loss and Do business accounting offline without internet : Securing business data is essential and the most primary objective of a business. Small businesses deal with safety issues due to lack of resources. Vyapar offers auto backup facilities that prevent loss of data loss happening due to loss of papers. Saving every record on a digital platform helps in deriving them as and when required.
Vyapar supports offline accounting features, which enables the business to carry out an accounting process without connecting over the internet. One can complete transaction entry and then connect online to sync the files with auto backup.
» Track business performance and control individual units : Vyapar is an inventory and accounting management software that enables to keep a record of the individual unit by their expiry dates, batch numbers, and other features that helps in picking the right on during sales. Business managers can also keep track of team performance by analyzing sales invoices and cash invoices. This helps in making decisions for further developments.
myBooks accounting software is an excellent accounting solution for entrepreneurs, accountants, small IT and financial companies and freelancers. myBooks GST Accounting Software is designed for all small business owner, you can use myBooks GST software for any kind of small business. All accounting transactions using this GST Accounting software can eliminate your accounting work stress. mybooks designed from the small business owners’ perspective, we kept easy user experience as the central objective in designing our product. So, there will not be any need for formal training. It also has helpful tips around the product so that you can discover features and functionalities very easily.
Key Benefits of myBooks Accounting Software
» GST Compliance Made Easy : Send professional-looking GST Compliant invoices and delivered to your customers by email in just a few clicks. Generate invoices in less than 60sec with your customized logo. File GSTR1 to GSTR9 from a single platform, find your error and fix the mismatches for final submissions.
» Easy Bank Reconciliation : myBooks designed for SME’s, you can generate invoices base currency of their customer needs and connect with SME’s bank account transaction tracking features. Further, you can do multi categorization of bank statements with just a click. You can easily categorize 20 business meal receipts to respective categories with a single click. You can select 20 of them in go and categorize meal receipts. This will automatically create 20 expense for you and balance your books.
» Backup & Security : Daily backups are maintained in myBooks cloud. You can also request the backup of your data anytime. myBooks uses bank-level security on servers and for data transferred between your systems so 100% data security for your data.
» Free Mobile Apps : myBooks comes with a free mobile app for Android and iOS Platform. Create your client invoices from smartphone & get paid on time from your mobile apps. Invoicing to your customer from mobile is very easy and simple.
» Financial report & Dashboard : myBooks dashboard charts and reports at your fingertips whenever you need it. You can track your business financials easily. myBooks accounting software load within seconds. myBooks is hosted on the next generation cloud systems, make it easy to process millions of transactions.
Busy is an integrated Windows-based accounting software that has been created to bring a reform in the computerized accounting system. With the primary objective of providing digitalization and offering a computerized software solution, Busy has become one of the top online accounting software in India. Busy was curated by a group of IT professionals with a motive that focused on the development of business accounting. The software has received an overwhelming response from the Fortune companies in India. Busy Accounting Software caters a range of accounting software apps that cater to the need of different business segments. The software is available in three different segments that suit micro, small, and medium scale enterprises.
Key Benefits of Busy Accounting Software
» Financial Accounting (Multi-Currency) : Busy is one of the top accounting software that features multi-currency accounting. This opens up the option for globalized companies that have branches worldwide. Centralizing financial accounting has become much easier with this advanced feature.
» GST Invoicing and Reports : Since the time GST was introduced, online accounting software has come as a handy tool for error-free tax filing returns. Busy is featured packed with advanced tools that assist business in filing tax returns easily and analyze profit reports. Busy showcases relevant details and GSTINs for contacts.
» MIS reports & Analysis : Top level management can rely on MIS reports and analysis of everyday management activities. Busy Accounting Software provides complete MIS reports that helps in keeping a track on work progress and make quick decisions relying on the reports generated.
Logic is an online accounting software in India that satisfies the demand of having a strategic ERP system in the accounting and financial module. Business managers look forward to grabbing an insight into financial reports that align in quick decision making. Logic is advanced computerized software which facilitates error-free financial management, budgeting, and planning, assists forecasting, renders efficient performance analysis and integrates general ledger and accounting data. Business management can hold cross-communication with different departments and facilitate collaborations across business delegates using comprehensive data offered by Logic. The software enlightens business success with its powerful consolidated tools that manage Human resources, inventory, and accounting.
Key Benefits of Logic
» Powerful financial consolidation tools : Small errors are the major drawback of a manual accounting system that has been overcome by computerized accounting software. Logic eliminates huge loss through its core ERP system. With powerful financial consolidated tools, Logic provides efficient accounting policies for future growth.
» Generate financial reports, Balance sheets, and Profit and loss statements on the go : Financial reports, balance sheets, and profit loss statements are analyzed to understand business requirements for better growth. Logic provides real-time access to business reports that help in decision making and streamline business insights with business associates.
» Proper cash management, asset management, cost-effective human resource management : Logic allows integrated enterprise accounting data along with other effective management solutions for business. It is a one-stop solution for ERP database. Now it has become easier to derive analysis of human resource developments, asset management, and cash flow data through one single platform.
Giddh is all-inclusive, modern accounting software in India, which uses your local database and delivers custom reports for the successful growth of the business. The software is not only for financial management but also deals in inventory, stock management and handles your bank accounts with high-level security. Giddh is GST compliance and delivers insight reports for better analysis of your accounting stability. The software supports multi-currency features that enable you to manage globalized departments form one place. The accounting software lets the business to share data with team members so that they keep a track of elements that require topmost priorities.
Key Benefits of Giddh
» GST Compliance : File your GST returns without worrying about cancelation of your tax files. Giddh is GST compliance and enables error-free on-time tax filing.
» Invoicing : Giddh is a modern approach to financial and accounts management. The software is equipped with customizable templates which allow you to generate professional looking invoices.
» Report & analysis & Multiuser : Giddh has an instant reporting and analysis feature that helps in making quick and efficient decisions. Additionally, it allows the business to share reports with other team members so that they can evaluate the most prioritized ones and work accordingly.
ProfitBooks is among the top 10 accounting software in India which offers complete inventory management and detailed tax reports that help in stabilized controlling of the business. For a growing company, financial planning and inventory management is equally important in alignment to get sales and product insights. Whether you are a manufacturing unit, wholesaler, or retailer, ProfitBooks offers a steady platform to track management process and file tax returns. From managing income and expense statements to tracking the entire cash flow, ProfitBooks serve as the best accounting and inventory management solution. ProfitBooks has been a savior to many upscale businesses and new ventures for its vividly advanced features.
Key Benefits of ProfitBooks
» Invoicing & Billing : ProfitBooks allows the business to create unlimited invoices and sales bills while keeping a track of inventory flow. For a manufacturing business, it is important to send invoices and track bills for inventory flow and manage outstanding dues.
» Service Tax, VAT & GST : ProfitBooks enables detailed taxation reports and helps in filing tax easily. Business can generate VAT reports and GST analysis depending on various slabs as per the tax system of India. This not only saves time but also eradicates manual error during tax filings.
» Profit & Loss Statement : Not only financial planning, but ProfitBooks also entails complete profit and loss statements for better understanding of business operations. ProfitBooks allows interpretation of Income and expense management that helps the business understand the actual profit and loss position of the business.
Saral is an online accounting software in India that deals in accounting and billing system Being a one of the most comprehensive software, Saral manages to be user-friendly and an integrated platform which manages to cover every essential point for your accounting and billing requirements. From inventory management to generating MIS reports, Saral covers it all!. Saral is GST compliance and enables tax filing with easy returns. Apart from being the most comprehensive business solution, Saral offers service invoice, inventory management and generates auditors report for the enterprise. The software comes with different slab rates to suit the requirements of a business. Along with statuary compliance, the software covers barcode integration and generation for product pricing and tracking as well.
Key Benefits of Saral
» GST Compliance : The software allows GST computation for monthly GST-1 and GST-2 return filing. Now you can file the returns using department tools offered by Saral and advocated by authorized auditors.
» Complete Accounting with Vouchers entry, Accounting Books and Final Statements : Saral is comprehensive accounting software that keeps a track of accounting transactions, maintains invoices, and provides final statements to keep a track on business profits and losses. It is a complete accounting and billing software with perfect feature services.
» Purchase Transactions – Purchase Order/ DC Inward/ Rejection Outward/ Purchase Invoice/Purchase Return : Saral keeps a track of complete inventory details that include product pricing and encoding barcodes. Business can manage purchase orders, manage barcode integration, batch numbers for expiry details, product warranty, and item serial numbers for stocking.
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