Best Accounting Software in India

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Table Of Content

Accounting Software Buyer’s Guide
What is Accounting Software?
Accounting Software Functionality
Benefits of Accounting Software
How to choose the right Accounting Software?
Accounting Software Types
The average cost of accounting software in the market
The Top Accounting Software Solutions for Small Businesses
Buyer Categories
Accounting Software Market Trends
Frequently Asked Questions

Accounting Software Buyer’s Guide

Maintaining and tracking the accounts is a crucial step to understanding the stance of any business. A lot of financial data including sales, revenues, employee expenses, inventory costs, etc., makes manual accounting a daunting process. Imagine writing all the information or entering the data manually into a computer! 

No matter the size of the business, accounting software can help track all the financial aspects of it. From eliminating redundant information to segregating the records properly; the account software tools help ease the analysis of this workflow. 

However, choosing the best accounting software for your business is a tedious task, owing to the number of options present in the market. So, here’s our simple guide to help pick the best one for your business.  

Here’s what accounting software can do and what one can expect from it. 

What is Accounting Software?

Accounting software keeps a record of all the accounting information. Be it bookkeeping, invoice generation, payment tracking, payrolls, or general ledger, this tool does it all. It also helps analyze the real-time cash flow and every aspect of your firm’s finances. 

This automated tool is also referred to as bookkeeping software. Based on the type and size of your company, you can find different types of accounting software to manage all the monetary records. The Modern best accounting software tools streamline these operations effectively and provide a seamless way to check the records at any time. 

Accounting Software Functionality

Accounting software is not just something that automates accounts. There is a mammoth of tasks performed here that improve the dynamics of your organization. Here are some significant benefits you can expect from the best accounting software. 

1. Payable Accounts 

Payable accounts for any company are the dues owed by the company to its creditors, suppliers, etc. This software automates the processes like invoice capture, payment authorization, and approval management. All the recorded information is reflected in the general ledgers and accounts payable columns. 

Typically, payable accounts are segregated as short-term and long-term payables. 

Short-term – payments to be made within a year 

Long-term – debts that’ll need more than a year to be paid in full 

Generally, short-term payable accounts are recorded as current liabilities, and long-term accounts are noted under the long-term liabilities section. Some payable accounts are common for most businesses. They are: 

  • Transportation and logistics 
  • Fuel and energy 
  • Manufacturing costs
  • Marketing 
  • Leases and travel expenses 
  • Hardware and other equipment 

Close tracking of the payable accounts helps business owners in having a better idea of their supplies and vendors. 

2. Receivable Accounts 

Receivable accounts for a company refer to the inflow of money for the services provided to it. Accounting software keeps track of all the credits to the firm and reflects the same in the general ledger automatically. Receivable accounts fall under the current assets column of a company’s balance sheet. 

Such accounts remain in the balance sheet from the date of billing to the date the payments are made by the clients. Terms like turnover ratio for the account receivable, average collection period, etc., are the metrics used to calculate the condition of your company’s accounts receivable. 

Some types of receivable accounts are: 

  • Providing credits to the customers/clients 
  • Payments due from clients, etc. 

Accounting software also generates invoices to keep track of the receivable accounts, helping business owners receive their payments soon. 

3. General Ledger 

Generally, a ledger involves the list of all the company’s assets (receivable accounts) and liabilities (payable accounts), along with its revenue, expenses, and equity. Accounting software records these transactions properly to help prepare the firm’s financial statements. 

4. Bank Reconciliation 

The debits and credits in the account often lead to chaos and loss of money in businesses. The accounting software captures these transactions and aids in identifying discrepancies and missing entries. Comparing the company’s accounts with the bank statements helps correct the missing information. 

5. Billing and Invoicing 

The best accounting software tools come with billing and invoice modules. These automate the payments and invoices, send them to the customers, and record the same into the accounting system. You can find a diverse range of billing and invoicing systems from accounting software based on the firm’s requirements. 

6. Payroll Management 

Tracking employee payrolls is another important part of accounting software. These systems automate payments to employees and check the payable taxes on a regular basis. They also generate the necessary reports to avoid penalties and late payments. 

7. Fund Accounting 

This feature of the accounting software is especially for government entities and non-profit organizations. It keeps a record of the grants and expenses of such organizations, helping them meet the requirements of their investors. 

8. Project Accounting 

As the name suggests, this feature from any accounting software tracks all the attributes related to the company’s projects. The information like billable hours, expenses, incurred costs, payments to the clients, etc., is recorded and tracked on a timely basis. 

9. Managing the Inventory 

Inventory management in accounting software gives you complete control of your warehouse inventory. Issues like overstocking, understocking, etc., are easy to identify through this module. From noting the product levels to recording the sales, orders, and deliveries, the inventory management feature minimizes depreciation costs and maximizes profits. It also keeps a check on overspending. 

10. Fixed Asset Accounting 

Accounting software isn’t just about managing the money inflow and outflow. Fixed asset management also makes up for crucial financial records. There are specific modules dedicated to managing the accounts of a company’s fixed assets. This includes the data related to the assets like location, scheduled maintenance, costs, audit history, etc. Depreciation schedules form the importance of fixed asset accounting. 

11. Reporting 

Another core feature of the best accounting software is financial reporting. It provides a detailed graphical analysis of all the stored information. Moreover, you can also get customizable reports, summaries, cost predictions, etc., for better understanding. You can easily analyze the payable and receivable accounts, cash flow analysis, sales reports, and the entire data in your accounting system.

Benefits of Accounting Software

We just saw what accounting software is and its features. However, do you really need one for your business? Yes! Top Accounting software does a lot more than automating your financial records. Have a look: 

1. Cost-effective 

Outsourcing the company’s accounts and finances demand a heavy price. It involves hiring labour, printing, and a lot more. With online accounting software, you can store the entire financial database securely and can access it easily, while avoiding printing and labour costs. The entire thing becomes in-house and easily accessible, making it easy for firms to reduce their price tags. 

2. Simplification 

As your business expands, you’ll need to hire an accountant to manage the accounts. Through the  top accounting software, you can integrate all the records and access them easily. These software tools are so easy to understand and use that you’ll not need any training to operate them. 

3. Enhanced Efficiency 

Manual accounting usually involves a lot of data entry and paperwork, which is both time-consuming and prone to errors. Automating and digitising these processes reduces the scope for human errors. Any accounting software ensures error-free calculations and data storage. With all the financial information updated regularly, there are minimal discrepancies, leading to a significant improvement in efficiency. 

4. Tax Compliances 

Paying taxes on time and producing the necessary documents are crucial to any business. Any delays in the payments lead to penalties. This tedious process also involves a lot of paperwork. Accounting software updates all the financial information time-to-time and provides error-free data to stay up to date. 

5. Security 

Losing financial information happens to be the worst nightmare for any company. This data is quite sensitive and needs protection from outsiders. Accounting software secures all the databases properly and lets you decide who can access the core information. Advanced tools from this software also keep a copy of the records, in case you need to retrieve the same. 

How to choose the right Accounting Software?

When it comes to finding the best accounting software for your business, it can vary based on your priorities and requirements. The following considerations can help you choose the perfect fit for your company. 

1. Primary Aspects 

Accounting is a vast area and requires extra effort in choosing the best one. Every module deals with a unique functionality helping businesses organise their accounts in a better way. However, the primary aspects like pricing, usability, etc., land every business owner with the apt choices available in the market. 

  • Pricing 

Generally, the pricing of accounting software increases as you require more modules. However, one can still find a considerable option with advanced features at a reasonable price. Not necessary that you need to pay a hefty sum for the best software. 

One best way to sort the pricing is to consider the budget constraints that suit the business. Sort all the vendors falling within this limit and then proceed to consider the remaining aspects. We’ve already listed some top accounting software vendors offering the best tools at a convenient pay to ease the job! 

  • Usability 

The immediate question following the pricing is the number of users. Any business owner looking for the best accounting software needs to choose how many users would have the access to it. Moreover, buyers need to figure out if they need a cloud-based system or a desktop version. 

The cloud-based system lets the users access the data from anywhere and at any time. Top accounting software versions come with a mobile application too, to further simply access the software. The desktop version of the software is accessible only on the device where the software is installed. 

  • Features 

Another crucial consideration when choosing accounting software is its features. As in, business owners have to decide what the software has to do for them. For example, buyers need to choose if their business requires both accounts payable and accounts receivable or either of them. Together, these features aid in tracking cash flow management and due accounts. 

Apart from these, companies can also ask for ancillary services like project management, time tracking, payroll, etc. Accounting reports’ generation is another feature with a considerable difference. Business owners can clearly understand the slides in their revenue by just looking at different charts generated by the accounting software. Some vendors let the users customise their reports too! 

These primary aspects help buyers segregate some best accounting software vendors in the market. The following aspects will lead you to the perfect match for your business needs. 

2. Customization 

One solution doesn’t necessarily cater to every business. So, look for software that lets you customise its modules as per your business needs. You don’t need a complex tool to manage the records all the time. Find a vendor that provides different customizable options for easily managing your accounts. 

Some accounting software modules come with different customization tools for reports, maintaining records, etc. For example, you can choose from pie charts, graphical representations, etc., to analyse a specific account as a whole. Likewise, buyers can choose how they want to segregate every account in a way that helps them understand the information easily. 

3. Data Security 

As discussed above, securing financial information from outsiders is a crucial thing for any business. Accounting deals with sensitive information like credits, assets, payrolls, etc., making it an easy target for hackers. So, data security becomes a primary thing you’ll need to look for in any accounting software. Different vendors use different techniques to provide data security. Make sure to ask for these methods from every vendor in your consideration. 

In case there’s uncertainty about the security offered by software vendors, get in touch with them and put forth every concern. Only if you find that their systems are secure and they take proper measures is when it is best to make the payment. Checking previous user reviews is of a great deal here, for you’ll know how the vendors assure their services. 

4. Integrations 

Modern businesses are quite advanced and need third-party integrations for efficient working. So, accounting software cannot be isolated. Instead, it needs a proper ecosystem with different integration capabilities. Some of them include emailing software, digital wallets for payments, and point-of-sale solutions. 

Existing solutions like sales platforms, payroll applications, shipping systems, etc., need proper integration with your accounting software. Any software working with these solutions leads to less complexity and minimises time-consuming errors. 

In the case of buyers owning multiple businesses, look for a top accounting software that supports different businesses with no additional costs. Paying separately for every entity will consume a lot of money. Handling multiple software tools dedicated to different businesses is clumsy too. 

5. Ease of Usage 

Anyone reading this is aware of the complications involved in accounting. You wouldn’t want software that complicates it further, right? So, look for an option that is easy to understand and use, irrespective of the number of modules it provides. Easy navigation, user-friendly interface, etc., are some must-haves for good accounting software. 

Moreover, buyers also need to consider the type of deployment needed for their business. As in, owners must decide if they need cloud-based or on-premise deployment. Usually, small business owners prefer on-premise deployment while medium- and enterprise business owners opt for cloud-based modules. 

6. Customer Support 

Since we are dealing with software, it is obvious that we’ll face technical issues at times. So, you’ll need a vendor that provides quick resolutions to such concerns. Usually, every software vendor claims to be available round the clock but takes days and months to hear you out. Ensure that you check the vendor’s customer service before paying for their software. 

Consider the following questions to understand the customer support provided by a vendor in general: 

  • Are there any additional charges for customer support or is it free? 
  • Are the service providers in the same time zone? If not, is there a huge difference between the time zones? 
  • Does the support team have proper knowledge about every feature and module offered in their software? Are they experienced? 
  • In how many ways can you access customer support? (Through phone, emails, and other means) 

Finding answers to these questions delineates the quality of customer services provided by the software vendors. You can also check their existing and latest reviews for this purpose. 

Typically, the top accounting software is designed based on all skill levels. Be it a professional accountant or a general shopkeeper looking for software to manage his store, buyers can find different types of accounting software as per their requirements. These are some factors that can help business owners choose the best accounting software to suit their company. Now, let’s discuss the possible types of this software and their usage in different businesses

Accounting Software Types

In general, accounting software options are classified based on the scope of their work and the deployment. 

1. Based on the scope  

Depending on the functions offered by top accounting software, you can find the following categories in the market. 

Full-suite – this category usually integrates multiple modules as a whole. It supports a wide range of requirements for accounting including, receivable and payable accounts, invoicing, bookkeeping, ledgers, tax management, etc. In this case, you cannot purchase separate tools to address a specific area of accounting. 

Stand-alone – this category is a perfect fit for small businesses looking for solutions to address specific areas of concern. These modules cater to particular accounting services, helping you avoid paying so much for the aforementioned integrated modules. 

So, you can choose a specific module or the whole set of advanced and integrated modules based on the business requirements. Once you are clear with this, you can now head to the deployment options for this software. 

2. Based on the deployment 

As mentioned above, you can find different accounting software options based on the deployment. Basically, the modules can either be on-premise or cloud-based. 

On-premise – this module restricts access to your information on a certain premise. That means you need to bear the infrastructure costs, installations, and necessary upgrades too. This case limits access to your financial data but gives complete control over it. 

Cloud-based – this category is server-based, allowing you to access the entire database through the internet. Some vendors also provide mobile versions of their software to ease access. So, you can track the entire financial information whenever and wherever possible, if choosing cloud-based options. 

The average cost of accounting software in the market

Now that we know why accounting software is essential to any business, let’s understand its costs before heading to pick the best one. 

Generally, the price of this software depends on the deployment type and the number of users. Some basic factors influencing the price of your accounting software package are: 

  • Different features requested by the buyers 
  • Number of users to grant the access 
  • Integrations required by the businesses, etc. 

From the basic price per user, the costs can go up based on the advancements and your firm’s requirements. In case you wish to try a sample, you can try out the free trial periods from some vendors. There are some free-to-use options too, but these mostly provide the basic tools. 

Some software vendors also provide custom pricing plans for business owners. Buyers can negotiate with the vendors at convenience and end up with a convenient package. You can also look for multiple integrations, add-on packages, etc. when negotiating the price. 

The Top Accounting Software Solutions for Small Businesses

Managing finances is crucial for the success of small businesses. With the best accounting software, small business owners can streamline their financial processes and make informed decisions. In this, we will explore some of the top accounting software in India, specifically designed for small businesses.

1. Tally.ERP 9

Tally.ERP 9 is the leading accounting software in India, known for its comprehensive features and user-friendly interface. It offers functionalities such as financial accounting, inventory management, invoicing, taxation, and payroll processing. Tally.ERP 9 is widely used by small businesses and professionals across various industries, making it a popular choice for accounting needs in India.


  • Higher acceptability 
  • Works well for large-scale transactions 


  • Hard to use for new business owners 
  • A little expensive 

2. Marg ERP 9+

Marg ERP 9+ is another prominent accounting software solution in India. It caters to the specific requirements of small and medium-sized businesses, offering features like inventory management, sales and purchase management, GST compliance, and e-commerce integration. Marg ERP 9+ provides an intuitive interface and robust reporting capabilities, making it suitable for businesses operating in different sectors.


  • Easy to use 
  • Free demo sessions 
  • GST billing and returns 


  • A little pricey 
  • Limited Third-Party Integrations 

3. Zoho Books 

Zoho Books is cloud-based accounting software that offers comprehensive features for small businesses. It includes modules for invoicing, expense tracking, bank reconciliation, project management, and more. Zoho Books provides a seamless and scalable solution for managing finances, and its integration capabilities with other Zoho business tools make it a convenient choice for small businesses in India.


  • Flexible access 
  • Reasonable packages 
  • Excellent customer support 


  • Clumsy setup 
  • Uses US accounting concepts 

4.  Busy Accounting Software

Busy Accounting Software is a widely used accounting solution designed specifically for Indian businesses. It offers features such as financial accounting, inventory management, billing, GST compliance, and customizable reporting. Busy Accounting Software provides localized versions to cater to different Indian tax regulations and is known for its robust functionality and user-friendly interface.


  • Comprehensive Feature Set
  • Customization and Scalability
  • Excellent customer support 


  • Steep Learning Curve
  • Limited Third-Party Integrations

5. ProfitBooks

ProfitBooks is a user-friendly accounting software designed for small businesses and startups in India. It offers features such as invoicing, expense tracking, inventory management, and tax management. ProfitBooks provides a simple and intuitive interface, enabling small businesses to manage their finances efficiently without the need for extensive accounting knowledge.


  • Flexible access 
  • Convenient customer support 
  • Numerous features 


  • Not so easy to understand 
  • Highly-priced 

Buyer Categories

Time and again, we’ve been mentioned that you’ll need to pick accounting software based on your company’s requirements. Understanding this area can help fix a budget and choose the best tool for the business. In most cases, the buyers can be any of the following categories: 

1. Small and Growing Businesses 

Small-scale businesses are usually on the verge of expanding their systems. Standard accounting software with customization can work well in this case. For growing businesses, they need expansion of the modules for increased users, data storage, demand forecasting, etc. In that case, you can start with the basic models and upgrade the services as and when the business expands. 

2. Enterprise Buyers 

As the name says, these buyers usually own large firms and multiple organizations. In such cases, these buyers will need the entire suite that covers vast areas including global operations, managing various companies, etc. In this case, buyers will need the best accounting software that focuses more on seamless integration rather than specific modules. However, it is best that you consider both options and decide the best, for there is a considerable difference between the two. 

3. Best-of-breed 

This category of buyers focuses more on specific modules rather than integrations. Businesses like construction, non-profit organizations, etc., need specific modules of accounting software to analyze their financial status. If you are a buyer belonging to these areas, look for the features and modules from the options rather than the possible ecosystem and integrations. 

Accounting Software Market Trends

Accounting software comes with a wide range of advantages along with saving a lot of time. So, when considering buying top accounting software for your business, consider the following market trends too. 

Mobile Applications – mobile apps have immense popularity in the present day, irrespective of the field. Different vendors in the market provide accounting software with mobile versions too, for the users to modify and monitor their accounts remotely. If you wish to go further, you can also ask for the working platform (Android and iOS) before integrating the software. 

SaaS – Software-as-a-Service is the booming trend in the market right now. Cloud-based deployment is taking over on-premise versions, as the service providers understand the flexibility in SaaS services. Be it equipment and operational costs or access, SaaS has several advantages in every possible way. Most business owners at the moment are opting for cloud-based accounting software rather than desktop versions. This version is easy to implement and can be accessed from anywhere through the server at any time. 

Specialisations – horizontal features no longer interest the buyers currently. Several vendors understand the industry-specific requirements put forth by their buyers and started providing industry-specific modules in their versions of the accounting software. Some vertical features apart from the general accounting features that are common to every industry are now a part of most vendors’ software modules. Best that the buyers look out for these specialisations based on their businesses while choosing an accounting software vendor. 

Integrations – another crucial focus in the market is business intelligence. Here, the software takes a mammoth of data and generates different reports to analyze the accounts. Specific tools also organize these reports and information at the user’s convenience for better understanding. Widely preferred software vendors like Realbooks stand out in this aspect by integrating business intelligence systems into their financial and accounting management software tools. 

Based on the current market dynamics, accounting software in India covering most of the features listed above is essential for business owners to manage and monitor their financial data. So, invest considerate time and put your money in the best hands for that matter. 


Summing it up, we have presented a guide to choosing the best accounting software matching your business needs. Check out our list of the top accounting software in India to find a feasible solution easily. Most vendors on the list provide a detailed demo of their software and different modules within the tool. Hope you find the right accounting software that fits the best for your company! 

Frequently Asked Questions

1. What does accounting software do? 

Accounting software takes care of the financial aspects of your business. It provides different tools to manage the accounting tasks like bookkeeping, inventory management, billing and invoice, payroll, etc. 

2. How to find the best accounting software for my business? 

The choice will depend on your business type and requirements. Refer to our guide to choosing accounting software to find the appropriate software to manage your firm. 

3. How much time will the accounting software implementation need? 

The implementation time of the accounting software depends on the option you chose. Generally, a normal system needs around 3-4 months for complete implementation. If you are using advanced versions, the implementation can take longer. However, present-day vendors are providing feasible solutions with easy access which are only taking 45-60 days for complete implementation. 

4. Is cloud-based accounting software safe? 

Accounting software vendors usually provide you with user credentials to access your financial data. For cloud-based accounting, most vendors use different encryption methods to secure the database. You can check with the vendors for the same, before paying for your software. 

5. Can I customize the accounting software? 

You can find both pre-set and customizable modules from accounting software. Modern businesses usually rely on customizable accounting software, owing to constant market fluctuations. So, you can customize the features if you choose customizable accounting software. 

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