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84 Best Accounting Software in 2020
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Easy GST What is Easy GST Software? Easy GST is a tax management software to ease accounting and GST relat...
Starting Price₹800.00/YearFeatures :Supported Platforms :Deployment :
Ezy Rokad (रोकड़) What is Ezy Rokad Software? “मारवारी स्टाइल के इस एका...
Starting Price₹5,999.00Features :Supported Platforms :Deployment :
AlignBooks What is AlignBooks? AlignBooks software is one of the best accounting software that offers a larg...
Starting Price₹2,000.00/Year
Features :
Supported Platforms :Deployment :
Marg ERP 9 + What is Marg ERP 9+? Marg ERP 9+ is one of the best GST accounting software in India. It is...
by Marg ERP
Starting Price₹5,932.00Features :Supported Platforms :Deployment :
Book Keeper Accounting Software What is Book Keeper Accounting Software? Book Keeper Accounting Software is available in a ...
by Just Apps
Starting Price₹300.00/MonthFeatures :Supported Platforms :Deployment :
Tally.ERP 9 What is Tally ERP 9? Tally ERP 9 is the best accounting software for small business, which i...
Starting Price₹150.00/MonthFeatures :Supported Platforms :Deployment :
Bearbook Accounting Software BearBook Accounting Software is easy to use and comprehensive, fret not. BearBook Online accounting ...
by Bearbook
Starting Price₹200.00/MonthFeatures :Supported Platforms :Deployment :
Busy Accounting Software What is Busy Accounting Software? Busy Accounting Software is an integrated business GST ac...
Starting Price₹7,200.00/YearFeatures :Supported Platforms :Deployment :Supported Platforms :Deployment :
QuickBooks Accounting Software What is QuickBooks Accounting Software? QuickBooks Accounting Software is one of the best a...
by Intuit
PRICE ON REQUESTFeatures :Supported Platforms :Deployment :
HostBooks All in One HostBooks helps its clients by building accounting applications and software that cater to their nee...
by HostBooks
PRICE ON REQUESTFeatures :Supported Platforms :Deployment :
Zoho Books What is Zoho Books? Zoho Books is an excellent GST accounting software for your office nece...
by Zoho
Starting Price₹6,000.00/YearFeatures :Supported Platforms :Deployment :
Profitbooks Accounts Management What is ProfitBooks Online Accounting Software? ProfitBooks accounts management software for mana...
by Profitbooks
Starting Price₹2,999.00/YearFeatures :Supported Platforms :Deployment :
Saral Accounts Software What is Saral Accounts? Saral Accounting is a GST enabled accounting software for Indian ma...
Starting Price₹7,500.00/LifetimeFeatures :Supported Platforms :Deployment :
HostBooks Accounts What is HostBooks Accounting Software? HostBooks Accounting Software is one of the leading ...
by HostBooks
PRICE ON REQUESTFeatures :Supported Platforms :Deployment :
HostBooks TDS What is HostBooks TDS? HostBooks TDS is a software designed to manage tax-related workflows for I...
by HostBooks
PRICE ON REQUESTFeatures :Supported Platforms :Deployment :
Target One Accounting Software TARGET ONE has grown into a foundation for software and database technology in businesses acros...
by Modern Webz
Starting Price₹2,500.00Features :Supported Platforms :Deployment :
XLTool Excel to Tally What is XLTool Excel to Tally? Excel to Tally is a data migration tool designed by XLTool. The so...
by XLTool
Starting Price₹4,153.00/LifetimeFeatures :Supported Platforms :Deployment :
Cashofy Accounting Software Cashofy Accounting is the most popular accounting software and is a comprehensive accounting and fin...
by LegalRaasta
Starting Price₹2,499.00/YearFeatures :Supported Platforms :Deployment :Compare Products
Last Updated on : 07 Jul, 2020
Buyer's Guide for Top Accounting Software
Found our list of Accounting Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!
What is Accounting software?
Accounting software is a system application solution for manage payable and receivable accounts in small businesses. It also helps to manage to generate online invoices, bills, track & analysis inventory reports. Accounting software is used for managing all accounts and financial data of your organization. It features essential accounting functions like accounts payable and receivable, account journal, general ledger, payroll, and trial balance, among many others. Accounting solutions assist bookkeepers and accountants in recording and broadcasting a firm's fiscal transactions. This software has become an invaluable resource to modern businesses. It provides detailed tracking of every last spent and reduces the chances of human error in bookkeeping.
Business Accounting software is widely used by accounting professionals to manage their financial information. Using this software, you can measure, classify, verify and interpret financial data accurately.
Accounting Software Modules
- Accounts and Payroll Management
- Inventory Accounting Management
- Project Accounting
- Fixed Asset Management
- Billing & Invoicing
- Accounting information system for Tax Management
- Accounts Receivable/Payable
- Online Accounting Software
- General Ledger
Accounts and Payroll ManagementAn integral part of any accounting software, the payroll accounting software module lets you process employee payroll, expenses, and reimbursements due to them. This module also helps in the preparation and printing of cheques while taking care of all legal and tax obligations.
Inventory Accounting ManagementThe main purpose of an inventory management system module is to keep track of your stock levels. You can sort out issues related to procurement, availability, and movement of your goods. Also, you can keep a close eye on your inventory to avoid overstocking or understocking.
Project AccountingThis is a customized module found in top accounting software India used primarily by project management and deployment teams. Herein, both costs and applicable rules differ from one project to another. It helps in making project estimates concerning overheads and costs pertaining to labor, material, and equipment.
Fixed Asset ManagementThis module helps in the management of a company’s financial data related to fixed assets in a more accurate and precise fashion. It helps in taking care of audit history, cost records, depreciation calculation, resource allocation, etc.
Billing & InvoicingAn integral module of any accounting ERP software, billing & invoicing helps automate several routine tasks. From cheque writing and bookkeeping to advanced double-entry apps, billing & invoicing helps eliminate manual data entry. It also ensures that your accounting figures are exact and accurate.
Accounting information system for Tax ManagementAn essential module of any accounting software, tax management assists in carrying out tax calculations automatically, along with tax reporting and integration of multiple tax rates. You can easily collect tax information from all financial documents into one single repository to generate reports necessary for tax filing.
Accounts Receivable/PayableFor the layman, accounts receivable refers to the money owed by customers to the business. The accounts receivable module assists in managing customer invoices and processing of customer payments. This module is chiefly used to create bills or invoices for customers. You can also keep a tab on individual deposits to bank accounts so that deposit information can be uploaded and applied to customer accounts automatically. This module’s master files contain information related to the customer, including name, address and phone number. It also shows the amount due to a business along with the length of time the customer’s balance has been outstanding.
Online Accounting SoftwareAccounts payable refers to the money owed by a business to its vendors. With the accounts payable module, you can track money due to vendors, discounts, and payment terms for all invoices. You can also print cheques directly to vendors. In addition, you can find master files containing vendor information, including name, address and phone number.
General LedgerThe central repository of the accounting records and data, the general ledger module acts as the command center for accounting information. Herein, you receive entries from other modules, such as accounts payable, accounts receivable and payroll modules. Without the general ledger, you won’t be able to create vital financial documents, such as trial balance, balance sheet, and profit and loss statement. This module is used to record financial transactions not recorded in other accounting software modules. It helps create a trail of information needed for audit purposes.
Accounting Software Features
GST & FilingThis particular module helps you file GST returns seamlessly by pushing transactions directly into the GST portal. Make your business GST compliant by preparing and filing GSTR-1, GSTR-2, GSTR-3, and GSTR-4 return online effortlessly.
Debt CollectionThrough the debt collection module, you can keep track of whether the overdue bills have been collected or not. You can also quickly identify and resolve issues which may be affecting the debt collection process.
Budgeting and ForecastingSo, you’ve crunched your numbers for the current year and balanced the books, crossed your T’s and dotted the I’s, now what? You’ve got to assess the financial performance so that you can set a budget for the next year. Based on your budget, you can establish estimates of sales targets (both realistic and challenging) with the help of an accounting solution.
Top 10 Advantages of Accounting Software
Basic AccountingThe major benefit of accounting software is that it enables even the non-accountants among us to crunch numbers to make sense of them. You can perform automated calculations putting you firmly in the driver’s seat. You don’t require any special training to execute the entirety of your accounting operations. And you get to do it in compliance with the legal standards of your state/country through the convenience of your mobile device. What’s more, you don’t have to hire an accountant’s services, thereby, saving you cost.
Accounting Mobile AppMost top accounting software offers mobile app functionality to help take care of your needs on the go. These solutions are easy on the pocket and nowadays offer native Android and iOS apps for their users. This accounting software are high on operability, and in some cases, even match the desktop version of the solution.
Accounting System Increased ProductivityBy migrating your financial data to an accounting ERP software, you can automate and streamline your mundane everyday tasks. Tasks such as collection, organizing, and analysis of your most sensitive data become a breezy affair. This is turn helps you invest your money in areas where it can be better utilized.
Accounting system of tax complianceAccounting software helps adhere to tax regulations of the land. The tax rules can be pre-set and are taken care of by the vendors whenever an update happens. It also acts as a source of information pertaining to audit and tax making your job easier. All you have to do is take it out for a run and sit back while the accounting system does the work for you.
Accounting PricingBasically go for an accounting solution that fits your budget. If a barebones system can do the trick for your business, that’s the one you should choose. If you want the whole bells and whistles (accounts receivables/payables, project accounting, fixed asset management), then that should be your top pick. There’s a caveat though. It’ll be heavier on the pocket.
Accurate ForecastingSo, you’ve crunched the numbers and made sense out of your financial data. What next? Well, you’d have realized by now that analyzing the different financial performance patterns and trends would take a while without a solid system. To give meaning to numbers you need to deploy a top accounting solution. It’ll assist you in situations where you’ll need to cut expenses or where you’ll be making investments. This will help give a clear view of your present financial scenario helping you devise innovative strategies to funnel resources in the right direction.
Accounting solutions securityFor any accounting software, the protection of the organization’s financial data is of utmost priority. This information is considered critical and must be prevented from falling into wrong hands. This is where an accounting solution comes in handy, helping you keep your data secure either through maintaining a backup copy or having multiple security clearance levels for access to sensitive data.
Reliable supportBuying a business accounting software is just the tip of the iceberg. You’ve got to test their support function to assess whether their service is up to the mark or not. Most accounting software vendors promise to deliver quality, quick and reliable support. But a promise is one thing, and fulfilling it is another. So, we’d advise you to test their support in advance.
Computerized AccountingHave you heard the phrase, no shoe fits all feet? It’s the same case with accounting systems and businesses. Try as you might find ‘one-size-fits-all’ accounting information system, you won’t be able to. There’s a very simple reason for this. Each company follows specific finance calculations and observes a distinct set of rules. Find a scalable accounting solution that fits your requirements like a glove and it can grow in line with your business as your operations expand.
Ease of useUsability is an important parameter when it comes to choosing which accounting software to go for. Since, accounting procedures and calculations, are not a piece of cake, it helps to have an intuitive solution where information is arranged neatly on a single dashboard. Once you get the hang of it, you should easily be able to run your tasks by following a navigation pattern you’ve learned.
Cost savingsWhich business doesn’t like to save a few bucks on the side, huh? Most business accounting software help you do just that! By automating administrative tasks and core calculations, you won’t have to devote valuable resources or outsource finance management to a financial expert.
Online Accounting Software
Online accounting software functions just like any other SaaS (Software as a Service) solution. Every critical accounting & financial information is stored in the data center, and all you need is the internet connection to access the information. This type of software also ensures higher data security and backup, with restricted online access.
Web-based accounting software promotes single ledger or common ledger accounting from anywhere and at any time. Instant data sharing through cloud-based accounting software eliminates the chance of repetitive data entry. It ensures that every user gets access to the latest list of products, invoices and customers to manage the general ledger, categorize transactions, generate payroll, and track payments efficiently.
Accounting Software For Any Business
Accounting software for every business, whether it’s a large and small enterprise or a confectionery, a supermarket or an MNC, an educational institute, an NGO or your local Kirana shop, needs an accounting software solution. Through a business accounting tool, you can create invoices, track expenses and generate multiple reports to intricately analyze your business's performance.
Your local grocery store can keep track of its expenses. GST Accounting software for large businesses can help keep tabs on their inventory levels, manage vendors and take care of their purchase orders as well as keep track of time and invoice billable hours. All in all, deploying an accounting software would sort out a lot of things and make life a hell of a lot easier. Say goodbye to month-end late nights! Hurray!
Accounting Software Solution For Financial Business
Number crunching is the first step when it comes to making sense of your financial data. This is where an accounting solution comes into the picture. Business accounting software gives numbers meaning, so you can decide whether you need to cut down on expenses or start pumping up investments. By using an accounting software solution, you’d have a clearer overview of your present financial state. This, in turn, would help you devise strategies to steer your business to new heights by allocating resources prudently.
In addition, through the magic of innovation, you can program your accounting software to send recurring invoices, alerts, and notifications, helping you save time. You can effortlessly execute accounts reconciliation by matching transactions. Have to submit quotes or estimates? Go for accounting solutions that can convert those documents to invoices in a few clicks. Reorder products when your inventory levels drop below a set threshold by generating purchase orders automatically. Basically, you can automate a great many tasks with effective accounting software.
Buy Accounting Software (Things To Be Consider Before Buying)
If you’re looking to buy accounting software, there are certain criteria that you may need to evaluate first before taking the leap. Let’s find out what you need to keep in mind before investing in an accounting management solution:
Do I Need It or Not?The first step on your journey to buy accounting software is an assessment of your needs. Whether you really need it or not. Do you want a core accounting solution that takes care of your major financial accounting tasks like salary processing, and leave and expense management? Do you need accounting software to execute your payroll needs seamlessly? Or you require a customized accounting software solution that helps you take care of employees’ tax declarations and filings?
After you’ve performed the internal assessment, you’ve to choose the best accounting software in India according to your defined needs from a list of available accounting software.
Compare prices and make the budgetThe beauty of accounting software in India which is currently available is that you have several options to choose from. Options that are available at different price models. If you’re a heavy hitter, you can go for an on-premise accounting solution. If you’re working on a limited budget, you can take a monthly/yearly subscription. You also have the option of ‘pay per use’ where you pay as per the amount of bandwidth you utilize.
Ask accounting software demoCheck if the accounting software in India offer free demos or trial version. This is especially useful if you don’t want to make a significant investment without having a look at the software first. Find out from the list of accounting software whether it fits the bill and offers the features/modules you’re looking for. After going through the demo, evaluate if you’re comfortable and willing to take the plunge.
Check Software Dashboard / User Experience (UX/UI)UX plays an important role when it comes to choosing an accounting software solution. The design aesthetic of the system, how pleasing it is on the eye, its user-friendliness can swing the buyer’s decision. A comprehensive accounting software overflowing with modules, will not overwhelm the user if it backed by a clean interface.
Accounting Software
BRS in Tally: How to Perform Bank Reconciliation in Tally
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A bank reconciliation statement is an important financial document which compares the amount on a company’s balance sheet with the number mentioned in its bank statement. What is a Bank reconciliation statement and why is it needed? By performing bank reconciliation statement in Tally, it is ensur...Read More
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Types of Voucher in Tally ERP 9 to Manage Transactions
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As a business owner, you have to continuously record transactions for the purpose of accounting, inventory management and statutory compliance. In order to do this, different vouchers such as receipt voucher in Tally, journal voucher in Tally, etc. are used. A voucher is a document that is used by t...Read More
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12 Best Free Accounting Software: A Comprehensive Guide
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At the initial stage of any business, entrepreneurs are often busy with critical tasks, such as creating brand awareness and attracting new prospects to their offerings. While taking care of their critical to-do-list, they often end up ignoring the need of having a separate accounting function. Acco...Read More
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How to Overcome These Biggest Challenges in Bookkeeping
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Are you facing problems with managing your accounting practices? If yes, scan through to understand bookkeeping better. To understand bookkeeping in detail, we must first seek clarity on the basic difference between bookkeeping and accounting. While most people use these terms interchangeably, let...Read More
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