KEY POINTS
- Accounting softwares are going to be integral part of Your Startup Journey.
- Accounting Software will help you making better system in place.
- Accounting Software used by the startups can manage better their resources while they are small and going to be big.
ccounting of records and transaction is very important for any business from day one. Even before a company incorporated, there are some pre-incorporation expenses. A proper maintenance of day to day records and transaction shows the characteristics and vision of Founders. Even initial transaction in any startups are very few, still it is recommended to have an accounting software from the beginning.
Below are some commonly used accounting software in India. Our Technical team has been testing and analyzing more than 50 accounting softwares available in Indian market and we have compiled the list of Top 10 in the 2020 Accounting Software if you are a startup in Indian Market.
- Tally.ERP 9
- Marg ERP 9
- HDPOS Accounts and Billing Software
- ProfitBooks
- Quickbooks
- Freshbooks
- Wave Financial
- Wings
- Zoho Books
- Saral
1. Tally.ERP 9
Tally is a one of the most popular Account Management Software in India for a long time. Tally.ERP 9 is suitable for small and medium scale industries. This can be fit for any kind of small industry and regularly updated with Indian Market changes. You can easily manage different business functionalities like accounting, finance management, inventory management, sales/purchase, point-of-sales, manufacturing , job costing, payroll and branch management. Using Tally’s remote functionalities enable you can easily do data collaboration between multiple systems like banking, remote payment etc. Tally.ERP 9 software these days. It comes with a Free Demo version which can be downloaded online and hands on can be done before buying.
Supported Operating System(s):
Windows 7, Windows Vista, Windows XP, Windows 2000, Windows 8
Features
-
- Simple accounting
- Compliance ready
- Bank Reconciliation
- Reports
- Stock Management
- Easy to navigate
- Payroll
- Budgets and controls
- Manufacturing Accounting
- Multilingual facility
- Enhanced security features
Benefits
-
- Multiple language support
- Easy to create invoices and in different formats and in multiple currencies.
- Easy to connect with different Microsoft Applications.
- Can work Seamlessly with different departments.
- One software to manage three critical functions – accounting, inventory, and compliance, as it comes with One Stop Solution for the same.
- Easy to use User interface.
- Multiple users support in a single Connection
Pricing
INR 18,000 to INR 54,000 (GST Extra)
Editor’s Rating
2. Marg ERP 9
Marg is also a popular accounting software for Indian market. It is very user friendly and customisable as per your requirements. It also has user control features which is very essential for process control. Some of the major features Marg ERP 9 are as follows:
Pricing
INR 7,200 to INR 25,200 (GST Extra)
Features
- Dispatch Module
- Multi Company Billing
- User Defined Fields
- Packing Management
- Dispatch Reports
- Re-Order Reports
- Subscription Management
- Stock Clearance Products
- Multi-Unit Billing
- Payment Module
- Discount Setup
- Cheque Setup
- SMS and Email Setup
3. HDPOS Accounts and Billing Software
HDPOS stands for Hyperdrive POS. It is a comprehensive POS software solution. This software is suitable for retail kind of businesses. If your business of retailing you can see the demo version before making the decision for choosing the software.
Pricing
Price varies from INR 1,300 per month to INR 5,000 per month
Features
- Billing Management
- Inventory Management
- Cash Register
- Purchase Register
- Vendors Management
- Employee Management
- Customer Management
- Collection Reports
- Maintenance and Services
- Labelling
- SMS features
- Finance Management
- Accounting, Balance Sheet
- GST Compliance Ready
- Payroll Module
- Different kind of Analytics
- Access Rights to Users
- Event Logs
- Printing of reports
- Barcode Management
4. ProfitBooks
ProfitBooks is an online accounting software for small and medium sized businesses. Free trial version is available online to have a look at the features and reports generation. Some of the features are illustrated below:
Pricing
$50 to $250 per month
Features
- Generate Sales Orders
- Generate Invoices
- Manage Products
- Manage Suppliers
- Expenses Tracking
- Multiple Currencies Invoicing
- Inventory Reports
- Online Payments
5. Quickbooks
Quickbooks is a cloud based accounting software for small and medium size businesses startups. It also comes with a 30 days free trial. You can use this 30 days trial and this may help in exploring features. Its free mobile app can also be downloaded from App store. It has multi monitor support.
Pricing
INR 1500/- to 5000/- per annum
Features
- Cloud Computing
- Invoice Generation
- Online Banking Integration
- Variety of Accounting Reports
- Cash Flow Reports
- Time-Sheet Management
- Mobile Application
- Multi Users Facility
- Unlimited support free of cost
- Customization of different reports
6. Freshbooks
Freshbooks is also a cloud based accounting software for small business accounting and invoicing software. It is perfect for professionals and self employed people who do want to spend more time on their work rather than complex accounting. It has all the features for self employed and professional for their bookkeeping requirements. It has free trial version available which gives insights and hands on about the features and reports.
Pricing
$15 to $50 per month
Features
- Generating Invoices
- Expenses Tracking
- Time Keeping
- Accounting Module
- Projects Apps
- Estimates Generation
- Payments and reporting
7. Wave Financial
Wave Financial is Canada based free online accounting software. It is excellent for entry level startups, individuals and professionals. You can create a free account and start using it.
Pricing: Free
Features
- Accounting Module
- Invoicing Module
- Facility of Mobile invoicing
- Recurring billing Management
- Receipts Management
8. Wings Accounting
Wings is an online cloud based accounting software. It is suitable for medium scale business. It has different dashboard and report designers which is very useful for generating different kinds of reports.
Pricing: On Enquiry
Accounting Modules
- Wings ERP Classic
- Wings ERP Auto
- Wings ERP FMCG
- Wings ERP E&A
- Wings ERP Payroll
- Wings ERP Fixed Assets
- Wings Books
- Wings Trade
- Wings Auto
- Wings Retail
- Wings DMS
9. Zoho Books
Zoho Books is an online cloud based accounting software. It is quite useful for small enterprises. It has all the modules for complete requirements for bookkeeping. It has more than 50 types of reports for MIS and reporting purposes. It almost covers every area of accounting and generating data.
Pricing: INR 2,500 to INR 20,000
Features:
- Invoicing
- Estimates
- Client Portal
- Expenses
- Bills
- Banking
- Projects
- Inventory
- Sales Orders
- Purchase Orders
- GST
- Online Payments
- Reporting
- Automation
- Documents
10. Saral Accounts
Saral is a complete accounting and billing software with customizable options. It is GST enable software which is must require for Indian Accounting system. Almost all the accounting software presently in India is GST Compliant. It also comes with Demo version to have a look at the features and basic understandings of the software.
Pricing INR 7,000 to INR 35,000
Features
- Complete accounting
- Inventory
- Service invoicing
- AMC/warranty
- GST Return
- E-way bill
- Auditor login
- Serial number wise stock
- Data migration and sync
- Mobile App integration
- Dashboard
- TDS management
Comparison Table
| Features | Tally. ERP 9 | Marg | (HDPOS) | Profit Books | Quick
books |
Fresh
books |
Wave | Wings Accounting | Zoho | Saral |
| User-friendliness | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Taxes | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Multi Users | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Support | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Integration with other softwares | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Reports | Y | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Automation | N | N | N | Y | Y | Y | Y | Y | Y | N |
| Cloud Computing | Y | Y | Y | Y | Y | Y | Y | Y | Y | N |
This is just a broad overview of the features and pricing about the software. However the shapes and features of the software are enhancing day by day as per industry requirements and continuous changes in the compliance in the Indian market scenario. Each business house has its own set of requirements. Basic compliances are more or less the same for all. However the main part is reporting and integration with other software. In the beginning it does not affect more. But as the business grows and size of the team increases then real challenges comes out. So one must have a long term view before selecting the Right Accounting Software.