Top 10 Accounting Softwares in India in 2022
Accounting displays the financial health of an organisation. Profits must be calculated, and books of accounts must be kept for a small or large business to keep track of its financial situation. Difficult situations, an operational budget, more customers, and massive ledger data are part of financial accounting manipulations. As the company expands, it faces difficulties managing large accounts and fiddling with proper instruments. Good financial bookkeeping and appropriate software result in a simple, proactive, and robust solution.
So, how does a business perform financial accounting while avoiding a large number of ledger entries? Accounting software is the answer to all of your company’s issues! It is crucial to any firm since it allows for analysing earnings and losses. A simple software system allows the organisation to keep track of spending and income while automating reporting duties by removing manual entries.
Simplified software has been produced by software development businesses, making the tedious work of manual ledger entries easier and eliminating human errors. Accounting software has revolutionised the world of corporate management. Regardless of their size or nature, all businesses use the programme. What’s surprising is that even small companies incorporate software into their systems for basic functions.
India’s tax structure has improved, making it one of the most lauded countries for its expected economic growth of 7%. Indian legislation has replaced multiple indirect taxes with a single indirect tax, GST, that applies to the entire country. GST rates have been revised in four separate slabs, necessitating complex computations. For manual operators, performing bookkeeping and keeping track of various GST rates is nearly complicated. As a result, Indian software development businesses have produced basic software with GST features to ensure that the process is compliant with the new tax system.
This article has compiled a list of the top 10 accounting software for small and mid-sized businesses in India. This software is equipped to meet all of India’s existing tax structure requirements. The programme is scalable, helpful, and dependable, with standardised functionality for general processes.
The Top 10 Accounting Softwares in India are listed below.
1. Tally.ERP 9
As current reformer adjustments happen in the financial system of India, Tally. ERP 9 tops our list of software as an end-to-end answer to GST statutory rules. Tally has error detection features that reduce the risk of GST returns being rejected. Tally is your business acquiescence partner for making invoices, ledgers, printing cheques, stock ageing analysis, cost estimations, auto bank reconciliation, and any overviews. Tally assists you in generating immediate reports and making swift decisions as your organisation grows. Tally enables a company to manage accounting and manufacturing details with minimal resources.
TALLY’S PRIMARY BENEFITS-
- ERP 9 Easily manage your accounts: Tally streamlines processes in novel ways to provide simple solutions to complicated corporate problems. View reports and profit analyses to help you make swift business decisions. To manage capital control and complications, get a bird’s eye view of each ledger.
- Your One-Stop Shop for GST Preparation: The Goods and Services Tax (GST) is the most recent statutory amendment to the Indian tax structure. It has been further subdivided into four slabs, each of which requires strict adherence to business regulations. Tally.ERP 9 makes it error-free and straightforward to file GST returns. With Tally as your compliance partner, you can now reduce the possibilities of GST rejection.
- Streamlined banking for you: Auto bank reconciliation can be generated to save time and avoid manual errors. Tally.ERP 9 makes invoices seem cleaner and keeps track of all post-dated checks and bank transactions. Not only can users bank, but they can also keep track of their cash receipts and payments with the help of an easy tracking feature.
- Make a quick decision: Making company judgments is aided by a final detail report for stock ageing analysis, profit analysis, cash, and bank transaction. Tally. ERP9 aids in the study of special reports, cost forecasts, and year-end earnings for improved financial progress. Users can use complex filters, change, and comparative approaches to get the correct detail.
2. QuickBooks India
This software that gives smooth, comprehensive data on a single tool appeals to modern enterprises. QuickBooks India is a sophisticated management programme that provides you with the most accurate results for your organisation. Businesses may track sales, produce and send invoices, and generate a database from the cloud-based portal. QuickBooks is designed for inexperienced users and does not require any knowledge of financial accounting. The software includes powerful invoicing tools, payment reminders, sales and inventory tracking, auto banking resolution, and a simple navigation interface. QuickBooks makes jobs more accessible and gives you a 360-degree view of your business from any place.
KEY BENEFITS OF QUICKBOOKS INDIA
- Access your account, manage your business, and remain organised on your computer, mobile device, or tablet from anywhere: QuickBooks gives you access to your accounts and lets you manage your business regardless of where you are or what device you’re using. QuickBooks is the best software inaccessibility and functionality that every expanding company requires.
- Create personalised, professional invoices, sales receipts, and estimates in minutes: QuickBooks is an excellent programme with customisable features appropriate for many business types. The software includes a powerful invoice tracking system, sales order management, and cost management system to make your team more effective and productive.
- Your statements and transactions will be immediately updated when you use the QuickBooks Online banking integration feature: Connect your bank accounts to QuickBooks for automatic bank reconciliation reports and transaction categorisation. Sync the transaction for a quick view of featured transaction statements. With online banking connectivity, you can see your cash receivables and payables in real-time.
3. Zoho Books
Zoho Books is a famous online software in India that provides end-to-end financial solutions. Zoho Books is GST-compliant, automates corporate operations, and manages financial and departmental management from a single platform. According to financial experts, Zoho Books is one of the most popular systems for expanding businesses. Zoho Books handles everything from sales orders to invoicing to boring GST invoices, bookkeeping, large ledgers, and numerous chores. Zoho Books is feature-rich software that allows you to manage cash receivables, payables, banking, inventories, timesheets, company connections, and generate reports. Zoho Books is an economical GST filing solution that makes the process simple and error-free.
KEY BENEFITS OF ZOHO BOOKS-
- End-to-end accounting: For error-free invoicing, Zoho Books is an effective end-to-end solution. With this programme, you can manage sales orders, invoices, and other monotonous activities. Account administration is no longer a concern for management, allowing them to focus entirely on business development.
- GST compliance:
Knowing your tax liability.
Ensuring that your firm is GST compliant are required.
- Zoho Books is one of India’s top ten software packages, helping you to reduce your tax liability and file error-free returns. Zoho Books is your GST compliance partner, providing you with all of the tools you need to overcome your fear of tax return cancellations.
- Integrated platform: Zoho Books is your GST compliance partner, providing you with all of the tools you need to overcome your fear of tax return cancellations. Zoho Books is an integrated platform with over 40 apps that can handle all of your business
- Create e-way bills for consignment: Consignments and transactions that require e-way statements are automatically detected by Zoho Books. With Zoho Books’ straightforward e-way billing system, you can capture e-way bills in your invoices, send copies to selected customers, and keep track of them across departments.
4. MargERP 9+
MargERP 9+ is an India-based GST-enabled inventory and software that simplifies GST billing and filing. Create invoices by batch, acquire complete information on a business transaction, use auto bank reconciliation, encode and centralise barcodes, and submit GST transactions through the site. MargERP 9+ assists in choosing the appropriate GST slab and categorising transactions correctly. The programme directs and automates SGST, CGST, and IGST calculations. MargERP9+ is a trade-specific solution with a low pricing point and a wide range of capabilities. The software is simple to use and allows you to add functionality to business support with over 2500 software configurations and 500 tutorial videos.
KEY BENEFITS OF MARGERP 9+
- GST Compliant: Effective software with GST-compliant capabilities aids in the production of effective financial reports, the completion of tax computations, and the filing of GST returns. For better tax reporting, businesses can generate GST invoices and statements.
- Simple Setup: Once you’ve downloaded this powerful software, you’ll be able to start charging and keeping inventory records right away. The local centres assist in the simple implementation of the programme. Several customer service representatives provide round-the-clock assistance and updated tutorials and manuals.
- Customisable and team-based: An essential layer of functionality is automating business workflow according to the firm’s needs. MargErp9+ adapts invoices to the needs of the business and supports even the most unusual business types.
- MargErp9+ allows the company to generate invoices: Make orders, and check server progress by enabling collaboration between suppliers and the business. Marg ERP 9+ provides exceptional partnership without collecting additional expenses.
- Customer-driven and revenue-increasing: Increasing business can be gratifying and provide your company with a competitive advantage in the market. MargERP9+ provides timely upgrades and innovations thanks to its features and flexible approach. Businesses may expect to improve performance and maximise benefits with the self-customisation platform.
Vyapar is the best software for small enterprises in India. The software is a free platform that allows you to keep track of daily company activities, create invoices, get inventory records, manage books of accounts, and handle invoices while focusing on your organisation’s growth rate. The software reduces paperwork and allows business owners to spend more time on business development. Vyapar is a perfect solution for most small businesses that want a digital update. Vyapar is GST compliant, allowing error-free tax returns by removing human calculations errors. Vyapar is in charge of managing individual company units, creating customised invoices, and automating payment reminders.
KEY BENEFITS OF VYAPAR
- Become GST-compliant: GST has evolved into an essential aspect of the commercial tax system requiring automated calculations. Vyapar makes small businesses GST compliant by providing a digital platform for keeping multiple tax slabs. Companies may now file returns quickly and easily, with no risk of human error.
- Easily manage all stakeholders in one spot and sell your business: Collaboration with suppliers and vendors and centralising all business documents are two critical components of a successful organisation. Vyapar has revolutionised the industry by allowing companies to monitor all parties, generate invoices, and remain ahead of the competition.
- Set up “Auto Backup” to protect your business data against data loss.
- Accounting for a business without the internet: Securing business data is critical and the essential aim of any company. Due to a lack of resources, small enterprises face safety risks. Vyapar provides automatic backup services to prevent data loss due to the loss of papers. Every record should be saved on a digital platform to be retrieved as needed.
- Vyapar has offline capabilities, allowing businesses to complete tasks without connecting to the internet. One can complete transaction entry and then connect to the internet to sync and backup files.
- Track business performance and individual control units: Vyapar is an inventory and management software that allows you to keep track of individual units by expiry dates, batch numbers, and other features that assist you in selecting the best product during sales. Analysing sales and cash invoices can also help business managers keep track of team performance—this aids in the decision-making process for future advances.
MyBooks software is ideal for entrepreneurs, accountants, small IT and financial businesses, and freelancers. Small business owners would appreciate MyBooks GST Software, which can be utilised for any small firm. This GST software for all transactions can relieve your task tension. Mybooks was created with small business owners in mind, and we made sure that the user experience was as simple as possible. As a result, formal training will not be required. It also includes helpful hints throughout the product so you can quickly learn about its features and functions.
KEY BENEFITS OF MYBOOKS
- Easy GST Compliance: Send professional-looking invoices GST In just a few clicks, you can create compliant invoices and send them to your customers via email. Create invoices with your unique logo in under 60 seconds. File GSTR1 through GSTR9 from a single platform, track down your issue and correct any discrepancies in time for final submissions.
- Simple Bank Reconciliation: With myBooks, SME’s may issue invoices in the currency of their customers’ needs and connect to their bank account transaction tracking capabilities. You can also categorise bank statements several times with a single click. You can effortlessly organise 20 business dinner receipts into the appropriate categories with a single click. You may order meal receipts in Go by selecting 20 of them. This will produce 20 expenses for you and balance your books automatically.
- Backup & Security: Backups and security are kept in the myBooks cloud daily. You can also order a data backup at any time. On servers and for data moved between your computers, myBooks employs bank-level security, ensuring complete data security.
- Free Mobile Apps: myBooks includes a free mobile app for Android and iOS. Create invoices for clients from your smartphone and be paid on time using your mobile apps. It is straightforward to invoice your customer from your mobile device.
- Financial report and dashboard: myBooks dashboard charts and information are always at your fingertips. One can effortlessly keep track of your company’s finances. The software myBooks loads in a matter of seconds. MyBooks is built on cutting-edge cloud platforms that make processing millions of transactions a breeze.
Busy is Windows-based integrated software intended to reform the computerised accounting system. Active has grown to become one of India’s most popular online accounting software, with the primary goal of delivering digitalisation and a computerised software solution. IT professionals put together busy to advance business accounting. Fortune 500 companies in India have embraced the software with enthusiasm. Busy Accounting Software provides a wide range of accounting software solutions to cater to the needs of diverse industries. Micro, small, and medium-sized organisations can use the software classified into three categories.
KEY BENEFITS OF BUSY
- Financial Accounting (Multi-Currency): Busy is a popular programme that supports many currencies. This opens up the possibility for multinational corporations with offices worldwide. With this advanced function, centralising financial accounting has become more accessible.
- GST Invoicing and Reports: Since the introduction of GST, online software has proven to be a valuable tool for filing tax returns without errors. Busy comes with a suite of powerful capabilities that simplify businesses to file tax returns and analyse profit data—busy displays pertinent information, including GSTINs for contacts.
- Management information systems (MIS) reports and analysis: Top-level management can rely on MIS reports and analysis of day-to-day management activities. Busy generates comprehensive MIS reports that allow you to keep track of work progress and make rapid decisions based on the information provided.
Logic is Indian online software that fills the gap in a strategic ERP system’s accounting and finance module. Business executives eagerly await financial reports that will assist them in making timely decisions. Logic is a sophisticated computer program that allows for error-free financial administration, budgeting, planning, forecasting, efficient performance analysis, and general ledger and data integration. Logic’s rich data allows business management to maintain cross-communication with other departments and facilitate collaboration with business delegations. With its powerful unified tools for managing Human Resources, Inventory, and Accounting, the programme illuminates corporate performance.
KEY BENEFITS OF LOGIC
- Powerful financial consolidation tools: A manual system’s fundamental flaw has been overcome by computerised accounting software: minor errors. Logic’s leading ERP solution eliminates massive losses. Logic provides effective accounting procedures for future expansion with sophisticated financial consolidated instruments.
- On the move, generate financial reports, balance sheets, and profit and loss statements: To understand better business requirements for greater growth, financial reports, balance sheets, and profit-loss statements are studied. Logic gives you real-time access to business reports that help you make better decisions and share information with your colleagues.
- Effective cash management, asset management, and human resource management: Logic enables for the integration of enterprise accounting data as well as other business management systems. It’s a one-stop-shop for ERP database management. It is now easier to extract analyses of human resource advancements, asset management, and cash flow data through a single platform.
Giddh is an all-in-one, modern software in India that leverages your local database and generates personalised reports for your business’s success. The software manages your bank accounts’ financial administration and inventory, stock management, and high-level security. Giddh is GST compliant and provides insight reports for better accounting stability analysis. Multi-currency features in the software allow you to manage worldwide departments from a single location. The accounting software enables the company to exchange data with team members to maintain track of elements that demand immediate attention.
KEY BENEFITS OF GIDDH
- GST Compliance: File your GST returns without fear of having your tax files cancelled. Giddh is GST compliant and allows for error-free tax reporting on time.
- Invoicing: Giddh is a cutting-edge finance and accounting system. Customisable templates are included in the software, allowing you to create invoices that appear professional.
- Reporting and analysis, as well as multiuser support: Giddh features an instant reporting and analysis tool that aids in making quick and informed decisions. It also allows the company to share reports with other team members to analyse and work on the most important ones.
ProfitBooks is one of India’s top ten software packages, with features such as inventory management and accurate tax reporting that aid in business stability. Financial planning and inventory management are equally crucial in aligning sales and product insights for a developing company. ProfitBooks provides a stable platform for tracking management processes and filing tax returns, whether you’re a manufacturing unit, wholesaler, or retailer. ProfitBooks is the greatest accounting and inventory management solution, from handling income and cost statements to tracking the total cash flow. ProfitBooks has been a lifesaver for many luxury firms and new projects for its vividly advanced capabilities.
KEY BENEFITS OF PROFITBOOKS
- Invoicing & Billing: ProfitBooks allows a company to make an unlimited number of invoices and sales bills while keeping track of inventory. A manufacturing company must send invoices and track bills to maintain inventory flow and handle outstanding debts.
- Service Tax, VAT, and GST: ProfitBooks provides detailed tax reporting and simplifies tax filing. Businesses can create VAT reports and GST analyses based on the various tax slabs in India’s tax structure. This not only saves time but also eliminates human error while submitting taxes.
- Profit & Loss Statement: ProfitBooks includes complete profit and loss statements for a better understanding of business operations, in addition to financial planning. ProfitBooks enables the interpretation of income and cost management, which aids in knowing the company’s actual profit and loss position.
Edited and published by Ashlyn