10 of the Best Accounting Software in India (Reviews with detailed comparison) - ICA Edu Skills Blog
Top 10 Accounting Software in india

10 of the Best Accounting Software in India (Reviews with detailed comparison)

Accounting is the processor keeping the accounting books of the financial transactions of the company. It helps in providing valuable insights into the financial health and performance of the entity.If an analyst reads the book of accounts, he/she can get a fair idea of the financial situation of the company. Accountants should follow 10 of the Best accounting software in India to stay updated with the current accounting scenarios. Also they might follow Generally accepted Accounting Principles or the IFRS (International Financial Reporting Standards) principles.Thus, for public listed companies, the book of accounts is necessary to determine the company valuation.

Key Features of Accounting :

Accounting helps businesses manage their financial records and transactions of the company.Here are some features found in accounting :

  • Bookkeeping
  • Invoicing
  • Financial Reporting
  • Bank Reconciliation
  • Inventory Management
  • Payroll Processing
  • Expense Tracking
  • Financial Analysis
  • Integration
  • Security and Data Backup

By using these top 10 accounting software, you can create a flexible and advanced solution. Here are the 10 top-notch software list that can enhance performance:

  1. TallyPrime
  2. Zoho Books
  3. Melio
  4. FreshBooks
  5. Xero
  6. Oracle Netsuite
  7. Acumatica
  8. ProfitBooks
  9. Vyapar
  10. Saral

TallyPrime :

Tally Prime is a business management software. You can manage Accounting, Inventory, Statutory and compliance, Banking, Payroll and various other processes. It helps you to streamline sales and purchasing processes.

Features:

There are some key features to manage your growing business with TallyPrime .

  • Create Invoicing in a few seconds
  • Accounting
  • You can segregate multiple products in your business
  • More than 400 business reports in Tally that can be accessed easily by search bar.
  • Generate GST compliant invoices
  • Maintain multiple mailing addresses for your company
  • Credit and Cash Flow Management
  • It helps Multitasking day-to-day works
  • Payroll management system for your Business
  • Access your Business Data through Online
  • Secure your Business Data with its multiple security levels

Why choose TallyPrime ?

TallyPrime is a great system to use because it’s so easy to learn and has a lot of great features. In this Top 10 Best Accounting Software in India article, This is one of the most used and known accounting software among all accountants. What’s really nice about it is that you can pre-set certain features, which can save you a lot of time and make it easier to complete your tasks faster. It’s definitely worth checking out if you’re looking for a flexible and efficient system to use.

Pros of TallyPrime :

  • It’s an easy to setup multiple functions accounting solution with inventory management
  • GST integration is fantastic and it  reduces the time of the accountant.
  • The database design and function are very easy to access.
  • There is a lot of room for customization.
  • Make One-time payment and you will get perpetual license.

Cons of TallyPrime :

  • It is a little confusing for those who come from a non-accounting background.
  • TallyPrime is relatively expensive than other accounting software.
  • Every time it’s needed to backup the data .Otherwise if windows get corrupted or any other problems your work will be hampered.
  • Its UI & UX need to be improved and need a lot of new features.
  • There is no automation for any entry. If you can customize any automation it will help your work

TallyPrime Pricing :

  • Silver (Single user edition For PCs) – Rs. 18,000 +18%GST(Rs.3,240)
  • Silver (Single user edition For PCs) rental – Rs. 600 per months +18%GST(Rs.108)
  • Gold (Unlimited multi-user edition For multiple PCs on LAN environment) – Rs. 54,000 +18%GST(Rs.9,720)
  • Gold (Unlimited multi-user edition For multiple PCs on LAN environment) rental – Rs. 1,800 +18%GST(Rs.324)

TallyPrime has fantastic features that let you choose some fields as “Permanent.” This means you don’t have to click on those fields again and again, which saves you time. Now, let’s talk about other software and their features.

Recommended Article for finding best institute to learn TallyPrime : Best Tally Institute Near Me

Zoho Books :

Zoho Books is a cloud based accounting software in India . Zoho is basically known for its CRM platform but nowadays it also targets the Indian market with their accounting software. It designed for small and medium businesses. It helps businesses to manage all accounting activity in a single platform.

Features:

There are some key features to manage your growing business with Zoho Books.

  • Chase your payments easily with payment reminders and give your customers online payment options and get paid faster
  • Manage your all payments weather its comes from vendors or clients easily
  • Organize your inventory with all vital informations
  • Get your all clients in one place through customer portal
  • Zoho has a client portal where customers can view invoices, comment, and make payments.

Why choose Zoho Books?

The interface is incredibly user-friendly and the fact that it’s cloud-based means that you can access it from anywhere. With Zoho Books, You can easily check your company’s invoices, examine my inventory, and even add new goods and contacts to my database. It’s such a convenient tool that has really helped you stay on top of things.

Pros of Zoho Books:

  • This software is very easy to handling your daily accounts transaction
  • They have free plan available for user
  •  Access from anywhere though its cloud based structure
  • Online Payment Integration

Cons of Zoho Books:

  • The customer support takes too long time to process and solve the problems
  • To use advance features you have to invest in higher amount plans
  • The automation features are week as compare to its competitors

Zoho Books Pricing :

Monthly pricing plans:

  • Basic Per Organization/Month – Free
  • Standard Per Organization/Month – Rs.899
  • Professional Per Organization/Month – Rs.1,799
  • Premium Per Organization/Month -Rs.3,599
  • Elite Per Organization/Month – Rs.5,999
  • Ultimate Per Organization/Month -Rs.9,599

Annually pricing plans:

    • Basic Per Organization/Annually – Free
    • Standard Per Organization/Annually – Rs.749
    • Professional Per Organization/Annually – Rs.1,499
    • Premium Per Organization/Annually -Rs.2,999
    • Elite Per Organization/Annually – Rs.4,999
  • Ultimate Per Organization/Annually -Rs.7,999

Melio :

Melio is a digital B2B payment platform that not only saves time but also improves cash flow. With Melio, you choose exactly how you pay and get paid, and stay on top of invoices for good. Every transaction is simple and seamless.

Features:

There are some key features to manage your growing business with Melio.

  • Make and accept payments from Bank account at 0 cost
  • Melio’s user-friendly dashboard enables you to track all of your transactions effortlessly.
  • Do multiple payments at one time
  • Customize your invoices
  • Control your cash flow with authorization rules

Why choose Melio?

If you’re a small business owner who wants to streamline sales and purchasing processes, Malio can be your first choice for a free invoicing tool. It’s easy to learn and use, and it can help you manage your finances more efficiently. Best of all, it won’t cost you a penny!

Pros of Melio :

  • Track your all payment transactions
  • Easy setup and implementation on this software
  • A low-cost and efficient method of receiving payment

Cons of Melio :

  • There is no phone support.
  • It’s not suited for large businesses that need more complex accounting features
  • Their customer support is unsatisfied

Melio Pricing :

  • No Subscription fees

FreshBooks :

FreshBooks is an accounting software designed for small business owners that provides quality accounting and invoicing software for small businesses. The software makes it easy to stay organized, keep track of payments and expenses made, send invoices and accept payments.

Features :

  • Professional Invoicing
  • Automated online payment options
  • Create reports and  Track your  every transactions
  • Time tracking features
  • Reminder for customers regarding payments

Why choose FreshBooks ?

It’s incredibly user-friendly and all of its features are designed to make everything easy for small business owners. One of the best things about this platform is that it stores all of your data in the cloud, which means you don’t have to worry about physical storage spaces. Plus, it allows you to accept online payments which has been a game-changer for your business. You can easily monitor your business’s money and keep track of everything in one place.

Pros of FreshBooks:

  • Excellent invoicing and billing features.
  • It is a cloud-based platform so your data will be stored in cloud rather than any physical space
  • Mobile app for on-the-go management
  • Useful financial reports and insights for business analysis

Cons of FreshBooks:

  • Limited functionality for complex accounting needs
  • It’s not tailored for larger businesses
  • Extra cost per month to add an additional team member

FreshBooks Pricing :

  •  Lite – 13.60 $ per month
  • Plus – 24.00 $ per month
  • Premium – 44.00 per month

Xero :

Xero is a New Zealand–based technology company that provides a range of accounting features to help users manage their finances, invoicing, expenses, payroll. This accounting software is designed for small and growing businesses. It’s easy to keep track of your unpaid and overdue invoices, purchase orders, bank account balances, profit and loss, cash flow and more.

Features :

  • Xero integrates with many third-party apps and services
  • The software provides various financial reports and dashboards
  • Its entirely cloud-based structure offers you to access your financial data from anywhere with an internet connection making it convenient
  • Multi currency support
  • Xero integrates with many third-party apps and services, such as payment gateways, POS systems, CRM software, and more, expanding its functionality.

Why choose Xero?

The best choice ultimately depends on the specific needs and preferences of each business. From my experience, Xero is a great option for small to medium-sized businesses that prioritize invoicing, bank reconciliation, and multi-currency support. Plus, its user-friendly interface and cloud-based accessibility make it a convenient choice for remote work and team collaboration.

Pros of Xero :

  • User-friendly interface and ease of use.
  • Cloud-based accessibility for anytime, anywhere access.
  • Strong invoicing and billing features.
  • Multi-currency support for international businesses.

Cons of Xero :

  • The availability of customer service may vary depending on your region.
  • Some functions may be difficult to access at first for those with minimal accounting understanding.
  • Xero’s project tracking features may not be as powerful as those of other specialized project management software.
  • Xero has a variety of price levels, however some customers may find it to be more expensive than other accounting software solutions.

Xero Pricing : (As per Website )

  • Starter – 25.00 $ per month
  • Standard – 40.00 per month
  • Premium – 54.00 $ per month

Oracle Netsuite :

Oracle Netsuite is an Powerful cloud-based software that provides products and services for small, medium and large-sized businesses including accounting and financial management, customer relationship management (CRM), inventory management, payroll, procurement, project management and e-commerce software.

Features :

  • NetSuite is scalable which allows businesses to easily adjust the system to meet their changing needs as they grow or encounter new challenges.
  • The platform provides real-time analytics and reports.
  • NetSuite includes e-commerce tools, making it easier for businesses to manage their online sales.
  • The platform can be customized to suit specific business needs.
  • Oracle NetSuite is a cloud-based software.

Why choose Oracle Netsuite ?

Having a cloud-based solution like Oracle NetSuite is a game-changer, especially for businesses that need remote work capabilities and easy collaboration among teams. It’s also great that the software is designed to cater to businesses of different sizes and industries, making it a versatile solution. And with Oracle’s commitment to security and reliability, businesses can have peace of mind knowing that their data is backed up, encrypted, and protected against cyber threats.

Pros of Oracle Netsuite :

  • It is accessible from anywhere with an internet connection.
  • Oracle NetSuite is scalable
  • NetSuite can integrate with other third-party applications

Cons of Oracle Netsuite :

  • Implementing and configuring NetSuite can be complex and time-consuming
  • Some users have reported varying levels of customer support from NetSuite
  • NetSuite may be expensive for small businesses, especially if they do not require the full suite of features.
  • Pricing not available publicly

Oracle Netsuite Pricing : ( Pricing not available publicly )

  • Starter package – 2-10 users
  • Mid-Market – 11-150 users
  • Enterprise – 151+ users

NetSuite Pricing Calculator to Choose Your NetSuite Package

Acumatica :

Acumatica is cloud and browser-based accounting software for small and medium-sized businesses. It designed to help enterprises manage their financials, distribution, manufacturing, project accounting, and customer management processes. Acumatica is known for its flexibility, user-friendly interface, and scalability, making it suitable for businesses of various sizes and industries.

Features :

  • Acumatica provides a high level of customization which allows businesses to tailor the software to match their workflows.
  • It supports integration with other third-party applications and services
  • Acumatica is known for its intuitive and user-friendly interface
  • Acumatica’s mobile app allows users to access the system and perform tasks on-the-go

Why choose Acumatica?

Acumatica is an excellent cloud and browser-based accounting software that is perfect for small and medium-sized businesses. With its user-friendly interface, flexibility, and scalability, it is a reliable tool that helps enterprises manage their financials, distribution, manufacturing, project accounting, and customer management processes. If you’re looking for an efficient accounting software that can cater to your business needs.

Pros of Acumatica :

  • Acumatica’s user-friendly interface contribute to a positive user experience
  • Acumatica’s customization options allow businesses to adapt the software to their specific needs.
  • The platform’s ability to scale ensures that it can accommodate businesses of different sizes

Cons of Acumatica :

  • Acumatica’s pricing structure may not be affordable for small businesses
  • Like any other ERP software, the implementation process can be complex
  • Some users have reported mixed experiences with customer support
  • No free version nor free trial
  • Pricing not available publicly

Acumatica Pricing : ( Pricing not available publicly )

  • Unlimited users (As per website)
  • Upfront, transparent growth-friendly pricing
  • Give your whole team up-to-date and accurate information
  • Your cost is based on the features and resources that you choose to utilize.
  • No hidden fees or lock-ins

ProfitBooks :

ProfitBooks is an accounting solution  that helps businesses create professional invoices, track expenses, and manage inventory, among other operations. You can generate financial reports to gain insights into balance sheets, track daily business expenses, monitor inventory from purchase to sales, and manage sales orders. It also provides IOS and Android-based mobile applications.

Features :

  • Cloud-Based Accessibility
  • Receive online payments using payment gateway
  • Generate detailed tax reports
  • Track manufacturing processes
  • Create beautiful invoices

Why choose ProfitBooks ?

It’s an amazing accounting solution for businesses. With this tool, you can easily create professional invoices, track expenses, and manage inventory, among other important operations. One of the best features of ProfitBooks is its ability to generate financial reports, which can provide valuable insights into balance sheets and help you track daily business expenses. Another great thing about ProfitBooks is that it allows you to monitor inventory from purchase to sales, as well as manage sales orders. I also love that it provides IOS and Android-based mobile applications, making it easy to access your business information on the go.

Pros of ProfitBooks :

  • ProfitBooks is relatively affordable than other accounting software
  • The software’s basic and user-friendly design makes it accessible to users.
  • Transactions and financial information are updated in real-time
  • Software providers regularly update their systems to fix bugs

Cons of ProfitBooks :`

  • Some functions might be difficult to grasp.
  • Reporting doesn’t have many format options
  • There could be more categories to define users

ProfitBooks Pricing : (As per Website )

  • Startup – Free Forever
  • SMB – $15 / Month or 499 / Month

Vyapar :

Vyapar is a simple billing, accounting, and inventory management system that enables business owners to handle their accounts and money with ease. Inventory monitoring, invoicing, reporting, payment reminders, barcode scanning, and more features are available.

Features :

  • Vyapar allows users to create professional invoices with customizable templates
  • You may use Vyapar to track and classify business expenses.
  • Customers can receive payment reminders from Vyapar.
  • You can reconcile their bank transactions with Vyapar’s accounting records
  • Vyapar provides a mobile app for both Android and iOS platforms.

Why choose Vyapar ?

It’s a complete billing, accounting, and inventory management system that has made life so much easier for business owners . With its user-friendly interface and advanced features like inventory monitoring, invoicing, reporting, payment reminders, and even barcode scanning, you can now manage Your accounts and money with ease.

Pros of Vyapar :

  • Vyapar provides you robust invoicing and billing features
  • The software offers tools to manage inventory
  • Vyapar is designed to be compliant with India’s GST regulations
  • You can easily track Business expenses and categorize them
  • Vyapar has a mobile app

Cons of Vyapar :

  • Its not suitable for larger enterprises with more complex accounting needs
  • It may have limited support for accounting practices in other countries.
  • Vyapar requires an internet connection, which could be a drawback in areas with unreliable connectivity.
  • No free plan available

Vyapar Pricing : (As per Website )

  • Silver plan – 3399.00 / year (desktop + Mobile)
  • Gold Plan  – 3999.00 / year  (desktop + Mobile)

Saral :

Saral is accounting and financial management software created by Relyon Softech Ltd. It is intended for Indian businesses and has a number of features that help to expedite accounting operations. Saral enables sellers to take orders, generate invoices, and generate receipts in real time.

Features :

  • Email Integration
  • Online document storage
  • Muli user login and Role based access control
  • Barcode integration
  • Mobile support
  • Inventory management

Why choose Saral ?

It’s specifically designed for Indian businesses and offers a variety of features that make accounting operations faster and more efficient. With Saral, sellers can easily take orders, generate invoices, and create receipts in real-time. It’s worth checking out if you need a reliable accounting solution.

Pros of Saral :

  • It implements security measures to protect sensitive financial data
  • The software allows multiple users to access
  • Saral Accounting Software supports bank reconciliation
  • It provide tools to manage inventory

Cons of Saral :

  • Limited Scalability
  • The quality of customer support can vary based on the service level and subscription plan chosen by users.

Saral Pricing : (As per Website )

  • Saral Bronze – 7,500 (Single / Multi-User)
  • Saral Silver – 15,000 (Single / Multi-User)
  • Saral Gold – 12,000 (Single / Multi-User)
  • Saral Diamond – 25,000(Single / Multi-User)

Conclusion :

If you want to manage finances efficiently and accurately, you can benefit from accounting software. Whether you’re a small business owner, a freelancer, or just someone who wants to keep track of their personal finances, accounting software can help you save time and money while minimizing errors. With features like automated invoicing, expense tracking, and financial reporting, accounting software can simplify even the most complex financial tasks. So if you want to stay on top of your finances and make informed decisions about your money, consider investing in accounting software today.

Throughout this review of 10 accounting software solutions, each platform demonstrates distinct features and functions geared to certain company requirements.

Disclaimer: The content posted in this weblog is intended for general information purposes only and does not include any professional accounting, tax, legal or financial advice. We strive to provide accurate and up-to-date information based on laws, regulations, and best practices which may vary by jurisdiction, industry, and individual circumstances.

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