Small businesses have a lot to keep track of, and accounting software can help. Using accounting software can help business owners keep track of their accounts receivable and payable, understand the profitability of their company, track and make a list of the company’s sundry debtors and be prepared for tax season.
ll accounting software programs are designed to help with bookkeeping and financial management, but the feature set for each program varies. Some accounting software programs are more geared toward personal use, while others target small businesses that don’t need the more advanced features found in enterprise resource planning (ERP) systems.
Here are our top picks for the best accounting software for small businesses:
We evaluated each platform by price, features, ease-of-use, and customer support. Based on these criteria, we made our recommendations below
It is the leading ERP solution in India with a market share of more than 80%. Though most companies use Tally, many small businesses still don’t know what is tally. Its userbase is one of the largest of all the other accounting software. The software includes all the basic functions required for accounting and taxation including inventory management, GST filings, accounting, finance, inventory, sales, purchase, point of sales, payroll, manufacturing costing, branch management and more.
It also offers business intelligence features to make decisions based on real-time data.
Tally has its language called Tally definition language (TDL). It is a very powerful programming language. You can extend the features of Tally with TDL. You can also customize reports as per your need using TDL.
Tally does not offer any free version and comes with a one-time purchase cost starting at Rs 15000 for a single user.
Quickbooks which was launched in India in 2012 has seen rapid growth in its market and has been able to capture a huge chunk of the small business segment.
IT allows easy integration with banks, inventories and other apps to make it easier for users, to manage their finances better.
Quickbooks is available as an online cloud-based app, desktop application, mobile app and can be installed on any server. Users can choose their mode of using QuickBooks according to their preference and comfort.
It has an easy to understand user interface and is one of the most affordable accounting software available in the market.
Busy has a strong inventory tracking system that can help you keep track of your stock in real-time. The software automatically generates purchase orders and sales bills, which eliminates the need for manual data entry. Busy’s module-based structure allows you to customize it according to your business needs.
Zoho books accounting software is another leading accounting software for small businesses and startups. Zoho books let you create Invoices and Quotes, manage expenses, track time, reconcile bank transactions, track inventory, generate reports and so on. You can also import your data from excel sheets or any other file formats available.
Zoho books offer a simple and elegant user interface that makes it easy to use even for first-time users. It integrates with several third-party applications as well like PayPal, Google Apps, Freshbooks and so on.
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