13 Best Accounting Software in India (GST Compliant) 2023

When it comes to the best accounting software in India, there are several good accounting software options.

Each of them has its own unique features and benefits however the core purpose remains the same i.e. managing your accounts, taxation, and compliances.

But accounting systems have come a long way from manual bookkeeping systems to computerized accounting and e-accounting and AI accounting.

So there is a huge transformation that has taken place starting from a stand-alone business application to apps on mobile in recent software development.

As a result, the new-age accounting platforms which include accounting, inventory, and payroll module integration are gaining growth momentum and there is no doubt about it.

With the arrival of GST in India, accounting software also made a tremendous impact on all software vendors.

Almost all software vendors felt the urgent need to implement its changing taxation structure to make it GST-compliant.

And this urgency gave rise to a lot of GST accounting software in India, where most of the applications come from cloud vendors.

Today technology is cheap, so it is transforming the way people engage hugely with their devices and apps.

Certainly, many new firms popped up to provide free accounting software services for compliance management related to GST in India.

And you can easily get access to some of these accounting systems on your GST Portal if your business is registered under GST.

As more software companies have evolved over time, the trend for online accounting software started hugely in India.

Let us take a look at some of the widely used popular software for accounting in India.

 

13 Best Accounting Software in India for Small Business 2023

The following are some of the most widely and popularly used Indian accounting software.

However, these systems are purely cloud-based or Windows-based and not traditional DOS-based systems.

DOS-based software for accounting is still popular among Accountants.

But it’s time now to adopt the latest technologies in business and take advantage of accounting software online.

And save immense time by getting access to third-party integration modules such as bank statements and auto GST e-filings.

Today’s accounting systems are getting more automatic rather than manual.

But it does not mean Artificial Intelligence and Machine Learning will make human intelligence extinct.

What do online accounting systems actually do today?

In fact, it provides accountants better access to a wide range of near real-time data from a number of sources.

Hence it saves 90% of their time in matching data from here and there.

Moreover, some accounting systems are built for scale for the enterprise platform.

And they are integrated software solutions with a full-fledged life cycle on Industry business processes.

Thus you can start right from order management and go through a complete order to cash or procure to pay life cycle.

You can also integrate your BOM and utilize manufacturing stock journals for production.

For this reason, modern technology is beneficial for businesses and people to adopt online cloud-based accounting systems in India.

Hence we have built a list of popular software for accounting in 2023, and here are some of the best accounting software in India for small to large businesses.

 

1. Zohobooks: Best Accounting Software in India for Enterprises

ZohoBooks is the modern topmost best accounting software in India when it comes to online automation, integration, and tax compliance.

The product is owned by Zoho, a SaaS multinational firm having its operation centers spread across the middle east, Europe, the US, UK Australia, and India.

With ZohoBooks you can manage your finances, keep your GST compliant, automate business workflows, and work collectively across departments.

Features of the Zoho Books include accounting modules such as receivables, payables, inventory, banking, timesheet, contact management, and reporting.

Therefore, Zoho Books is undoubtedly one of the best accounting software products in India with around 40+ apps to scale businesses like yours.

And integrate your software for accounting with other apps as your business grows.

From negotiating deals to raising sales orders and invoicing, Zoho Books handles all accounting tasks so you can focus on your business.

You can also create GST invoices, know your tax liability, and file your tax returns directly by linking the GST portal with your accounting application through an API.

Zoho Books is a full-fledged GST-compliant online accounting software for your business.

Zoho is also one of the registered members of GSP in India that offers GST Suvidha Provider Portal integration to make tax filing easier for businesses.

The GST Suvidha Provider Portal is a government portal that allows businesses to file their taxes online.

The integration between ZohoBooks and the GST Suvidha Provider Portal allows businesses to automatically populate their tax return with information from their ZohoBooks account, making the tax filing process easier and faster.

 

 

2. Realbooks: Small Business Indian Accounting Software

Realbooks is one of the upcoming best accounting software in India.

Professionals and enterprises need robust software for accounting and Realbooks is truly scalable and capable of handling millions of transactions on its platform.

Realbooks accounting software also offers a multitude of features along with a business intelligence system redefined for small to large enterprises.

Therefore you have access to all the numbers and figures for your core accounting purpose with MIS, KPIs, and Dashboards.

With Realbooks you can also get consolidated reports for branches/group companies along with Auto-posting for inter-branch/inter-company entries and define permissions for users for different branches.

Therefore it is truly a small business accounting software for small to large enterprises.

This allows multi-location businesses to track dues, cash flows, and profitability metrics in real time along with key strategic insights.

The DMS (Document Management System) in Realbooks also allows you to upload all bills to the cloud directly or via dropbox.

And improve productivity within your organization with an inbuilt approval system to easily retrieve documents.

So one important question is why should you use Realbooks?

The simple answer to this question is Realbooks is free forever for a single user, it has enhanced mobility, it is scalable, and easy to customize.

And if you want to upgrade your user base or shift to a higher plan just pay for what you use.

Moreover, it has top-notch security where all servers are from class-leading Amazon Web Services.

 

Unique Selling Proposition of Realbooks

• Simplified accounting software
• Document Attachment against each transaction
• Paperless Office (Support direct upload or with Dropbox)
• Multiple Branches /GSTIN – Inter-Branch Reconciliation
• High Volume of Transactions
• Highly Scalable
• Unlimited Concurrent Users and Unlimited Companies
• Dynamic Approval Workflow
• Very Easy Migration from Tally and other Accounting Software (Masters + Transactions)
• Very high Customer Retention
• Inventory Management
• Centralized bookkeeping
• Customization

 

 

3. Reach: Best Accounting Software for Small Business

It is popular software for accounting for small businesses.

Reach accounting software is a powerful business application on the cloud and is run by many businesses across India and the world allowing business applications to integrate seamlessly.

Reach is again another best accounting software in India.

This business automation software is powerful enough to run 21 different businesses from end to end

And it is one of the ready-to-use business accounting software on the cloud.

Reach is integrated accounting software and application which suits different functions within an organization.

According to Reach Business Automation Software, there are some important factors to consider as to why you should consider upgrading to Reach and they are:

• Reach accounting is custom-made to suit your business
• Captures your leads from emails and websites directly
• Order Tracking System to track your order
• Customized Invoice with your brand logo
• Supports multi-currency to raise an invoice in foreign currency to Indian currency
• Import option from Excel and Tally
• Multi-User Capability Access and Control
• Supports Mobility allowing reports to view on Mobile Devices
• Manages Inventory
• Show Branch-Wise/ State Wise profitability
• Highly Secured and auto online backup
• Free Cloud Server
• Centralized Data
• Day End Reporting
• Support 99.9% Uptime on Cloud

 

4. Quickbooks: Best for Micro Enterprises

Quickbooks is a product of Intuit Corporation with its Global Offices across 9 countries and more than 9000 employees around the globe.

With 4.5+ million customers worldwide, it shows how Quickbooks Accounting Software is being used globally.

As an online software for accounting, Quickbooks powers unique features such as customized reports, invoicing, and online banking.

Quickbooks also allows you to manage your business and stay organized anytime, anywhere, and on any device.

You can create custom, professional invoices, sales receipts, and estimates and send them in minutes.

The Online banking integration feature, lets your statements and transactions get automatically updated.

You can instantly see how your business is performing with customizable reports and dashboards.

Enter bills from vendors, pay them only when they are due, and schedule recurring payments to save time.

Track billable hours by client or employee and automatically add them to invoices.

Mobile apps are also included with your subscription to QuickBooks to access information from your tablet or smartphone.

QuickBooks allows you to control your books with robust roles & permissions and invite your accountant to access your books for seamless collaboration.

Unlimited support is available with answers to questions and information on running your business. Hence is known as the best accounting software for small businesses.

QuickBooks is one of the best accounting software in India.

To know more about Quickbooks and its other products you can visit the official company website.

 

5. Zipbooks: Indian Accounting Software for Solo Entrepreneurs

ZipBooks is a well-known online accounting and inventory software in India for growing businesses.

A truly ascendable & extensible solution with the ability to grow with your business.

ZipBooks has a complete order to cash and procure-to-pay lifecycles along with other dynamic features including CRM.

So if you are a startup and looking for a cost-effective solution for your business ZipBooks might be a perfect fit.

Get a Free Trial for 30 days and decide if it suits you in the long run.

Features of Zipbooks Accounting Software:

• Multi-User Capabilities
• Access Anywhere, Anytime
• Data Safety
• Highly Secured
• Access Control
• Robust Data Security and Access Control
• Hassle-Free Deployment and Maintenance
• Integrated accounting, sales, purchase, and inventory
• Completely User Friendly

However, there are no features like cheque printing, label printing, and barcoding.

Also, It does not support TDS, TCS, and E-Invoicing features but the good news is you can always upgrade it.

To upgrade ZipBooks you have to shift your data to ZipERP Lite i.e. an extended version of ZipBooks.

ZipERP lite has all the capabilities of enterprise resource planning systems.

For a detailed demo of the ZipERP Lite product, pricing and features contact us for a demo.

 

6. Alignbooks: Best Accounting Software for SMEs

Alignbooks is a cloud-based accounting software in India and also comes with an offline mode with a secure data backup.

It is a completely GST-enabled online accounting software with direct E-Way bill generation and easy return submission.

Alignbooks is a simple billing software with advanced accounting and inventory management along with built-in operational controls.

The system also has intelligent MIS reports embedded into the core heart of the accounting system for business owners.

And a flexible deployment architecture with the ability to deploy the accounting system both in-house and on the cloud.

The basic modules in Alignbooks include sale, purchase, accounts, inventory, POS, job work, production, payroll, and asset management.

Features of Alignbooks include:

• Multi-User Access & Privileges
• Multi-Currency
• User Approvals
• Multi-Location
• Dashboard & MIS Reports
• Customizable Templates
• Batch Management
• Email/SMS Notification
• User-Defined Fields/ Attributes
• Import from Excel
• Agent-based Reporting and other advanced features

 

7. Profitbooks: Best Free Accounting Software for Entrepreneurs

Profitbooks is a full-fledged online accounting app for small businesses and enterprises in India.

Currently, the company is offering a 100% free accounting app. Get a Software Trial for your business with your first signup.

Profitbooks is an advanced accounting app that helps you stay up to date on top of business.

And even if you have little knowledge of accounting, you can still use it because it is amazingly simple to use and has a great UI.

Profitbooks is designed for business owners who want to keep their finance in order and make better decisions in just a few clicks.

This software for accounting lets you easily create beautiful invoices, track expenses, and manage inventory without any accounting knowledge and is the preferred best accounting software free.

The most important features of Profitbooks include:

• Create invoices with pre-made invoice templates
• Create estimates or quotations and convert those to invoice
• Generate detailed tax reports
• Collaborate with your accountant online
• Record manual journals
• Track business expenses
• Create Sales Orders
• Support for multiple currencies
• Create multiple warehouses
• Integrate payment gateways like Instamojo or Cashfree
• Financial reporting with Balance Sheet & Profit and Loss statement
• Simplify purchase workflow with POs
• Track manufacturing processes
• Maintain product batches
• Track inventory flow at multiple warehouses
• Easily find low stock using powerful reports
• Readily available all financial reports

 

8. ZenScale: Best Accounting Software for Enterprises

Zenscale accounting module is a part of the Zenscale ERP which can run individually as part of the other ERP modules.

A SaaS-based software that is based on a pay-as-you-use model and ready-to-use software module that ensures ease of running a business.

Zenscale is a cloud-based Accounting module and its essential software configuration, updates, and backup is managed automatically at the backend.

As the application is operated online, you can share any financial data across all departments seamlessly.

Create and update records on the go, and make critical business decisions on the basis of detailed financial reports and compliances such as the GST returns and other statutory reports.

Some of the important features of the Zenscale Module and Software Architecture are:

• Highly Customizable
• Cost-Effective
• Cloud-Based
• Real-time data insights
• Auto Backup
• Access anytime anywhere
• Great UI/UX
• Responsive for mobiles

 

9. Easy GST: Accounting Software for SMEs in India

Easy GST Accounting system is an online software for accounting, inventory, and payroll simplified with both standard and composition GST.

Get access to comprehensive reports which help you get an overview of your company’s financial health.

Detailed reports like balance sheets, profit and loss, trial balances, aged debtors, and creditors help you to manage your finances and create comparison reports as you want.

This enables you to easily create invoices, bills, and expenses, manage documents, and time tracking with an inbuilt smart sheet.

Multi-Currency is supported for creating quotes and invoices in other currencies and converting a quote to an invoice once approved.

Other features include project management, asset management, CRM, and payroll management to manage all your employee’s details in one place.

You can also calculate salaries, statutory deductions, loans, and bonuses and generate detailed payroll, compliance, and tax reports along with the accounting system.

Simple job work and the ability to create production processes are added advantages and beneficial features of Easy GST Accounting for manufacturers.

There are a lot of other features that have already been implemented for Easy GST and more features are being added to the system.

You can also check the Easy GST project development roadmap from the official website for upcoming features and benefits that might surprise you and solve your problem.

More importantly, the cost of a yearly subscription to Easy GST Accounting software as compared to other online accounting software is more flexible and affordable.

 

10. Tally ERP 9: Best Accounting Software for Small Business

Tally ERP 9 is one of the oldest and the most widely known best accounting software in India.

However, it has its roots beyond India and has also reached international markets such as Indonesia, Kenya, Bangladesh, and the middle east.

Tally ERP has two types of licenses i.e. perpetual and rental and with the Tally ERP.Net module you can have access to tally software on your browser anywhere.

The DotNet Module in TallyERP 9 solves the purpose of accessing Tally Solutions over the browser and it gives enormous relief for all businesses and professionals on the go.

However, Tally ERP 9 is not full-fledged online accounting software.

But it has deep roots in accounting since 1986 and is recognized worldwide today as the leader in accounting software technology.

There are 3 different products on Tally ERP 9

1. Tally ERP 9: The Tally ERP 9 features invoicing and accounting, inventory, credit, and cash flow management, Taxation, Banking, Cost control, cost analysis, payroll management, and much more.
2. Tally Server 9: The Tally Server 9 version of Tally Software is usually used by large enterprises where there are more concurrent users operating at the same time.
3. Shopper 9: Shoppers 9 is a robust retail management software for POS and Invoicing which includes Shopper 9 HO, Shopper 9 POS/ Distributor, and Shopper 9 Product edition for an unparalleled retail experience.

If you love to play offline Download Tally ERP 9 and enjoy using the free trial offered by Tally software by installing it on your desktop or laptop.

 

11. Saral: Accounting Software for CA’s and Entrepreneurs

Saral is a user-friendly best accounting software for accountants and CA’s that covers all accounting, inventory, and billing needs for small businesses.

This Accounting & Billing Software is an on-premise software solution for GST invoicing, accounting, and returns filing.

The software application supports invoicing and accounting for Regular and Composition dealers, both in B2B and B2C segments serving most of the trading, manufacturing, and service industry.

Saral allows the calculation of GST based on GSTIN and Place of Supply and includes both forward charges and reverse charges.

The Saral GST software module automates GST Return filing of all GSTR forms which allows seamless data transfer to the GSTN portal using the API connectivity.

A unique feature of Saral Accounting is the ability to create Tax Invoices in multiple Indian Languages as it supports many local languages.
To sum up, Saral accounting has a list of features that it has to offer:

• Complete Accounting
• Inventory
• Service Invoicing
• GST Return
• E-Way Bill
• TDS Management
• AMC and Warranty
• Dashboard

Apart from Accounting & GST, Saral branches its software to several other software modules such as Saral TDS, Saral Tax Office, Saral Income Tax, and Saral FinTrac.

And Saral PayPack for complete payroll management, and more.

 

12. Busy: Best Accounting Software for Micro Enterprises

BUSY is a GST-ready on-premises business software for accounting in India with over 3 lakh licenses sold worldwide in over 20 countries.

This accounting software comes along with 3 main versions, the Basic, Standard, and Enterprise, with single-user, dual, and multiple-user options.

Some other important features are Auto GSTIN Validation, Auto GSTR-1, GSTR-3B Reconciliation & Auto GSTR-2A Reconciliation Party-wise, Voucher-wise.

Other features include Auto E-way bill generation and printing, the option to check pin code distance, annual GST summary, and new proposed GST return – Sahaj and Sugam.

However, today Busy also delivers SaaS i.e. Software as a Service Model to avoid complicated accounting setup and maintenance.

So you can remove the barrier of location and time for maintaining your financial accounting, inventory, stock, or statutory data with the help of Busy on Cloud.

This software for accounting supports various industry verticals and sectors such as FMCG, Retail, Trading, Manufacturing, Distribution, and Services by helping them manage their business efficiently.

Busy also has a strong root of marketing channels across India and it is the second-largest desktop accounting software brand next to Tally ERP 9.

 

13. Marg: Best for Small and Medium Enterprises

Marg Business Software is an integrated on-premises ERP Accounting System with a complete mechanism for customer delight.

Thus, this application comes with advanced features for the pharmaceuticals and manufacturing industries.

It has sound benefits from tax preparation and billing to e-filing for growing businesses.

We can find three editions of Marg Accounting and ERP software i.e basic, silver, and gold and it all supports multi-currency accounting.

In accounting Marg also features auto reconciliation and with an online payment system, you can reconcile bank transactions with ICICI bank.

Marg ERP & accounting Software offers a single solution that allows a company to manage all its business information and processes from a single platform.

It is currently deployed across a variety of industries and has proven its ability to seamlessly integrate every module into a single package.

Marg ERP also launched its integrated Mobile Apps to integrate orders and inventory on the cloud and seamlessly stay connected with ERP.

And with its GPS tracking app, you can also stay connected with your on-roll marketing people in real-time and increase marketing efficiency.

With online reviews running strongly in favor of its capabilities, potential customers and Enterprises would love to implement Marg ERP 9.

There is a whole lot of other accounting software in India that is popular in its own territory, but it is beyond the scope of this article to list all of them.

Marg has also recently launched MargBooks as online accounting software to cater to the need of customers who want to move to the cloud.

 

Bonus: BookKeeper Accounting App

The Bookkeeper is a user-friendly and cost-effective complete accounting software for Retailers, Wholesalers, Traders, and Manufacturers.

A cutting-edge complete mobile and desktop accounting solution for small business owners.

It works as a stand-alone app and also works on all devices such as Android, iOS, and Windows with seamless data synchronization across all your devices.

Book Keeper also has around 100,000 active users in the last 6 years with a rating of 4.5 plus on the play store and App Store and is used in more than 50 countries (Source: YourStory.Com)

The bookkeeper is available for easy invoicing with fully customizable invoice templates.

Features include inventory management, warehousing, barcoding, e-commerce integration, and other bookkeeper features.

Bookkeeper updates are available for free and you can download updates either on your Android, iOS & Windows devices.

You get alerts on your app whenever there is an update available so you won’t miss out on any new features released from time to time.

 

What are some of the best features of modern accounting software?

Technology is rapidly changing therefore more features are being added to business accounting software in recent developments.

As you can see the boom for Artificial Intelligence has just started and this led to the development of AI accounting software and systems.

Following it, research is being carried out by many other institutions to make accounting systems more productive by using artificial intelligence

Accounting software varies depending on the specific needs and preferences of users, but here are some of the modern accounting software features:

• AI-Powered Insights & Predictions
• Cloud-Based Access
• Automated Bookkeeping
• Invoicing & Payments
• E-Invoicing & E-Way Bill
• Financial Reporting
• Budgeting & Forecasting
• Integration With Other Tools
• Multi-Currency Support
• Mobile Access
• Payroll & Time Tracking
• Order To Cash
• Procure To Pay
• Inventory Management
• Customer Relationship Management
• Project Management
• User Access Control

 

Frequently Asked Questions

 

What is accounting software?

Accounting software is a type of computer software that helps businesses manage their financial data, including invoicing, payments, expenses, and other financial transactions.

The software typically includes features such as bookkeeping, account management, financial reporting, and payment processing.

The primary goal of accounting software is to automate manual tasks and provide businesses with an accurate and up-to-date view of their financial information.

Small businesses, freelancers, and large enterprises use software for accounting to improve their financial management processes and make informed decisions.

 

What are the various types of accounting software?

There are various types of software for accounts, each designed to meet the specific needs of different types of businesses.

Some of them are:

• Cloud-based accounting software: This type of software is hosted on remote servers and accessed through the internet, eliminating the need for businesses to install and maintain software on their own servers.
• Small business accounting software: These are built specifically for small businesses and typically include features such as invoicing, expense tracking, and basic financial reporting.
• Enterprise accounting software: They are designed for large enterprises and typically include more advanced features such as multi-currency support, inventory management, and project management.
• Non-profit accounting software: Non-profit organizations’ software for accounting includes features specifically tailored to their unique needs, such as grant management and fundraising tracking.
• Freelance accounting software: Made for freelancers and self-employed individuals and typically includes features such as invoicing, expense tracking, and tax calculation.
• AI-based accounting software:  It uses AI/ML and includes features such as automated bookkeeping, predictive analysis, fraud detection, real-time reporting, and customizable workflows.

 

What is the most commonly used software for accounting?

The most commonly used accounting software can vary depending on the region, industry, and size of the business.

However, some of the most widely used accounting software solutions globally include QuickBooks, Xero, and Zoho Books.

These solutions are popular due to their ease of use, affordability, and robust features, including invoicing, payment processing, expense management, and financial reporting.

But Tally is the most commonly used accounting software in India followed by ZohoBooks.

 

Conclusion:

We have seen by now a list of the best accounting software in India where there is two software for accounting variants i.e. online versus offline.

Online accounting software as the name implies are systems and tools for accounting that are hosted online.

While offline or desktop accounting systems are deployed on a PC or a Laptop.

So the difference is very clear, being online means information is flowing from many different locations and sources.

Another way to look at this is billing software can be the hub for all financial information on the cloud.

For example, let us take sales transaction entries, one of which is your factory sales, and the other can be POS sales.

Hence, sales information is flowing from 2 different sources.

So here information flows into the system in two different locations, this is exactly the power of an online accounting system.

Moreover, you can enter your purchases from a centralized location if you want to control your purchase.

It is easier for online accounting systems to make purchases at your warehouse and do a branch transfer to other physical billing stores.

On the other hand, Offline or Desktop accounting software is hard when it comes to the integration of data from different locations.

Therefore simply put together, desktop accounting systems do not create a collaborative environment whereas online accounting software does it.

However Web-Based accounting software processes all the data in real-time.

As a result, it provides timely and accurate reports for analysis of the data anywhere anytime, and at any place.

Business Owners also have the option to take advantage of using the data on the go.