When searching for the best accounting software, SMEs look for the ones that serve their business objectives, are affordable and are easy to use for them. A business accounting software keeps your financial data organized and provides you the relevant information whenever you need it.
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Choosing a good business software is a tedious task as it involves a lot of research on your part. This selection can make or break a business, as an accounting solution helps small businesses to take informed decisions. At present, a lot of accounting solutions are available in India, and being an SME you wouldn’t want a complex solution for your accounting operation.
List of the Best Accounting Software in India
Here’s the list of top accounting software for SMBs to ensure smooth and efficient accounting transactions
1. Tally.ERP 9
Tally.ERP 9 is considered a market leader in the business accounting software for small and medium sized businesses. It serves the purpose of accounting, sales, purchase, inventory and payroll for an organization. It is a user-friendly software developed by Tally Solutions Pvt Ltd., specifically designed for accounting purposes.
Tally.ERP 9 is a comprehensive solution that helps track GST related statutory changes. It enables business compliance and minimizes any chance of rejections of GST returns filed by you. Any error in your GST filing will be automatically detected and corrections will be done. In-built correction capabilities make GST filling error-free and quick. Right from generating invoices to filing GST returns, every process can be made easier with this best accounting software in India.
It helps in managing:
- Journal & Ledger
- Debit & credit notes
- Trial balance
- Balance sheet
- Cash flow, and more
SMEs can streamline their finance and control related operations such as bank reconciliation, budgeting, inventory valuation, internal audits, etc. through this accounting solution. Read More
Profitbooks is a cloud accounting software specifically designed for small businesses. It is a cloud-based accounting solution that lets you create invoices, track expenses and manage inventory, helping you save time and manage finances efficiently.
After creating purchase orders, businesses can easily email them to their vendors by using ProfitBooks accounting software. Further, this GST ready accounting software helps with the allocation of inventory to the right warehouse so that the purchase record can be maintained accurately. The inventory management module of accounting software India allows tracking of every item while it’s transferred from warehouse to the logistics packaging.
This solution also helps with:
- Tracking your receivables
- Managing online payments
- Get detailed tax reports
- Track inventory lifecycle
- Creating unlimited customers & vendors
As it is a cloud-based accounting solution, the information can be accessed remotely, thus ensuring mobility. Read More
3. Busy Accounting Software
Busy accounting software is developed by Busy Infotech Pvt Ltd. It is an integrated business software helping SMEs manage accounting, sales, purchase, VAT, CST, currency, payroll and multi-location inventory. Businesses with global outreach can rely on this accounting software to have a better control over their finances. Its multi-currency feature along with user-configurable invoicing makes accounts management easier for businesses. User-configurable documents further make reporting and analysis easier for growing businesses.
Salient features of Busy accounting software are:
- Multi-currency financial accounting packages
- Bill of Material
- GST invoicing & reports
- Multi-location inventory management
It is available in three different editions: Basic, Standard and Enterprise. For Busy Software Download. Read More
4. Marg Accounting Software
Marg Accounting software is developed by Marg Compusoft Pvt Ltd and is well known among small and medium enterprises of India. It is simple to use, easy to configure and flexible in customization. Whether your business operates in retail, distribution or manufacturing, this GST accounting software India is an ideal pick. With Marg Accounting Software, you can complete payroll processes and tax requirements accurately. Its bill audit feature leaves no scope for mistakes, making bill generation and delivery easier. From GST billing to filing, all processes can be streamlined with Marg accounting software.
This accounting software ensures:
- Easy & fast billing
- Efficient reporting
- GST tax calculation
- Barcode management
- Tax reconciliation, etc.
It can also effectively manage transactions related to accounting, purchase, taxation, invoicing, inventory etc. of the SMEs.Read More
5. Saral Accounting Software
This business accounting software is developed by Relyon Softech Limited, and helps in managing complete inventory and accounting transactions. GST complaint accounting and billing is possible with Saral accounting software. It also assists with voucher entry, TDS and financial statements and is getting quite popular among thriving businesses. This GST-enabled accounting software is widely used by retailers, distributors, and other types of businesses. It is a user-friendly software allowing manufacturing, trading, service as well as non-profit organizations to create their book of accounts and:
- Audit log as per GST guidelines
- TDS management
- Generate GSTR 1, GSTR 2, GSTR 3
- GST Computation for monthly GSTR-1 & GSTR-2 Return Filing
- Separate auditor login to track audit dates and results
- General ledger conciliation and auto bank reconciliation
- Pre-set ledger and voucher template
Perform GST-compliant billing & purchase. Read More
6. Zoho Books
Zoho Books is a user-friendly online accounting software designed for SMEs. Using this accounting software, you can send professional invoices to clients and ensure that you are receiving online payments really quick. Businesses are widely using this accounting software to know every detail of their expenses and bill their clients easily. This accounting software helps track and categorize expenses in real-time to have better control over a company’s cash outflow. You can connect Zoho Books to your bank account and updates regarding your cash flow will start showing up. Not a single transaction will go unnoticed with Zoho Books accounting software at your disposal.
Its key features include:
- Automatic bank feeds and payment notifications
- Online collaboration with customers
- Time tracking
- Inventory management
- Invoice tracking
With automated workflows, Zoho Books is helping businesses to manage all their accounting operations effectively on a single platform. Read More
MProfit is a leading portfolio management and accounting software for Indian Investors, traders, family offices, advisors, CAs and corporates. This accounting software helps with automatic posting of entries and assists in portfolio management. Entries like dividend pay-out, interest income, dividend reinvestment, capital gains and P/L can be tracked accurately with this accounting software. You can also import bank statement, which will help in maintaining bank and cash accounts efficiently. Accounting will not be a cumbersome task anymore, as this accounting software provides balance sheet and trail balance reports which are simple and easy to understand.
This software makes business processes easier and effortless by promising simplified accounting solutions, including:
- Loan and advances
Other important features are for financial management along with mobile support. Read More
This business accounting software is designed by Intuit Inc for various types of small businesses. It is an online accounting software with an easy to use interface and tools. You ca directly connect your bank account to Quickbooks to import and categorize transactions automatically. Also, you can sync this software with your popular apps to take pictures of your expense receipts and maintain records automatically.
Other popular features of Quickbooks are invoice tracking, payment reminders, reports and expense management. You can access dozens of reports to keep track of every expense. Its mobile app is ideal for managing all your accounting processes on the go!
It offers more than 40 reports including:
- Profit & loss account
- Balance Sheet
- Cash Flow Statement
9. Wave Accounting
Wave is a free cloud accounting software for small businesses. It is a secure and popular accounting solution to manage day-to-day business transactions and generate financial statements such as Profit & loss statement and Balance Sheet. Key features of this business software include invoicing, payroll, receipts, and direct deposit.
You can connect your bank accounts with Wave accounting software in minutes, so that all transactions start appearing in your bookkeeping records instantly. It’s finally the time to say goodbye to manual receipts and track everything automatically.
Also, with a comprehensive insight of your accounts and transactions, you can make better business decisions to increase the cash flow.
Wave Accounting makes it easy to:
- Track all your income & expenses
- Prepare smartly for the tax time
- Ensures multiple bank and credit card transactions
- Ensures data transactions
- Makes tax handling easier.
Accounting software is a necessity for every SME because it gives them a wider picture of their company’s financial health. They are used to prepare invoices, track expenses and generate a variety of report and more. Choosing an accounting business software can be challenging for most of the SMEs, as many software are available in the market with varied features. This list of accounting software will be handy for you in selecting the right software for your business, which fits your requirements and budget and helps you to streamline your accounting functions.
Now you must be thinking that when there are so many free accounting software India and GST accounting software free, why bear an additional cost? That is simply because free GST accounting software offers limited features. There isn’t much scope of error detection free GST accounting software India. Thus, it’s better to invest today than regret later!