6 Best accounting software in India

Best accounting software keeps one’s financial data organized and it however also provides more accurate information anytime when anyone needs it.

In India we have many accounting software which have been made to help in the preparation of accounts and balance sheet of a small business entity.  Generally, the small business, do not require a complex ERP package. The thing behind is that it is however most importantly required to know as to how one’s money has been spent and also how much revenue one has generated for a period.

To find out as to which accounting software suits one’s business the most, one is firstly required to look into the features and also about the post-sale support which they provide.

The purpose of this article is to make the reader aware of some of the best choices that can help one with the business thus in order to organize one’s accounting data better. The article mentions about the best accounting software for the small and medium business that however have a very good track record in India.

1. Tally

Most of our small businesses which are in India are on tally. TallyERP9 is thus however the latest accounting software which has been customized by thus keeping the different Indian accounting standards which are however used across businesses.

Over the two decades Tally has however been in a position to dominate the Indian accounting software market for the small businesses. Tally has however also been developed by the “Tally solutions private limited”. Best part of this accounting software is however its easy implementation and usage. Trained accounting professionals are thus also readily available in the market due to which the employer is thus also not required to train their employees.

With tally one can also manage all most all of the accounting things such as inventory, sales, purchases, manufacturing cost, payroll and also the other statutory year end processes. Indian accountants are however so used to this accounting software that it will thus be very difficult for the other products to take over tally.

2. LegalRaasta Software’s for Small Business

Accounting/ Bookkeeping Software

Many small businesses do not have complete accounting departments and thus also require external bookkeeping services. LegalRaasta can provide one’s business with bookkeeping services through a network of business experts and chartered accountants across India. The accountants however use advanced financial software to record and also track their information.

Package includes the following services:

1. Accounts payable functions
2. Accounts receivable functions
3. Accounts reconciliation
4. Payroll
5. Monthly analysis

GST Software

The Government website display countless fields and also contain limited description. One however has to keep looking for instructions to understand about each column. In comparison, TaxRaahi GST Software is also extremely intuitive and easy to understand.

Some of the notable features of it are:

• Multi User
• Excel/ERP import
• Reconciliation
• Unlimited returns

TDS Return filing software

LegalRaasta is also a registered e-filing intermediary of the Income Tax Department with 40,000+ users.

It has a TDS return filing software and its features include:

• Helps to easily import data
• Helps to automatically verify TAN and PAN number
• Helps to import data from excel and TDS files
• Helps in TDS computation for automatically calculating TDS
• Helps in FUV submission
• Helps to generate form 16, 16A and more with ease

ITR return filing software

With LegalRaasta’s ITR return filing software one can e-file ITR for free.

3. QuickBooks

QuickBooks is also one of the best accounting software which is most widely used in US and also the other developed countries. It has been developed by Intuit Inc and also has many different products to offer the Indian businesses.

Recently it has also launched the Indian version of QuickBooks for use. One can however use QuickBooks for recording its day to day transaction, invoicing to the clients and also billing to the customers. The best part of it is that one can even use this accounting software on one’s iphone or the Android based mobile phones. There is also a free version for one’s use, one can try that.

4. Marg Accounting Software

Marg accounting software is developed by the MARG Compusoft private limited and is thus also known among the Indian small businesses. Over the two decades they thus have developed accounting software by also taking into account all the sectors starting from pharmaceuticals, FMCG and others. 

5. Busy Accounting Software

Busy accounting software is however also developed and managed by the Busy InfoTech private limited. Busy is also used in many well-known organizations and the industries of India thus for its better inventory management capabilities. Like the other accounting software it also has all the features like accounting, inventory management, sales, purchases, and VAT, CST and currency management.

6. ProfitBooks

Profitbooks is an online accounting software which has been designed for the small businesses. It thus provides a cloud based system of accounting which can however only be used over internet. With this one can store the data securely in cloud and can also get it accessed on tablet, laptop, PC or however any other device.

It’s thus also an easy to go accounting software which can also be accessed from anywhere in the globe. It also allows one to manage one’s payroll, inventory and documents with one application. If one wants one can try its free version for a month.

Based on one’s requirements one can also choose one of these accounting software for the business use.

If one however has micro business and is  looking for the accounting software which is specific to one’s  industry then one  can preferably choose between Marg and Busy otherwise tally is thus  the best accounting software used widely in India.

However, before selecting an accounting software, one should firstly look for all the features and should then take one’s own decision.

This article has been contributed by Simran Setia, Content Manager, Legalraasta- an online platform for GST Registration.