The 8 Best Accounting Software for Indian Businesses 2024

When it comes to choosing the best accounting software in India, there are several options worth considering for your business.

Each has its 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 by now from manual bookkeeping systems to computerized accounting to 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 tremendously impacted all software vendors.

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

This urgency gave rise to many GST accounting software in India driven by cloud technology.

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

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

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

Therefore as more software companies have evolved, the trend for online accounting software started hugely in India and lately, we are able to see more systems driven by AI technology.

The 8 Best GST-Compliant Accounting Software for India 2024

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

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

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

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

It will save immense time for their business by getting access to third-party integration modules such as auto bank reconciliation and auto GST e-filings.

Today’s accounting systems are getting more automatic in terms of generating more efficient business with the help of AI.

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

What do online accounting systems do today?

It provides accountants better access to a wide range of near real-time data from several 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.

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

Thus you can start right from the purchase and sales order management and go through a complete procure to pay and order to cash 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 2024, 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 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 Globe. With ZohoBooks, you can manage your finances, keep your GST compliant, automate business workflows, and work collectively across departments.

Therefore, Zoho Books is undoubtedly one of the best accounting software in India. The product comes with 40+ apps that can scale your business and integrate your accounting subscription 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 accounting platform.

Zoho is also a registered member of GSP in India which offers integration with the GST portal to make tax filing easier for businesses. The GST portal allows businesses to file their taxes online. The integration between ZohoBooks and the GST portal is made easier by GSP making the tax filing process easier and faster from ZohoBooks.

Top Features of ZohoBooks Accounting Software

• GST Compliance
• Bank Reconciliation
• Multi-Currency Support
• Expense Tracking
• Receivables and Payables
• Automated Workflows
• Inventory Management
• Collaboration
• Mobile Accessibility
• Timesheet
• Contract Management
• Integration with Other Zoho Apps
• Custom Reports

Unique Selling Proposition of ZohoBooks

• Cloud-Based
• Comes with the most comprehensive suite of features
• Expense Management
• Mobile Apps
• Integration with other Zoho Apps
• Automation and Workflows
• Multi-user collaboration
• Time tracking and projects
• Affordable, scalable, and easy to use
• User-Friendly Interface
• Affordable Pricing
• Security and Data Protection

ZohoBooks Plans & Pricing:

Zoho Books offers four pricing plans: Free, Standard, Premium, and Ultimate. Check prices on the official website.

2. TallyPrime: Overall Best Accounting Software for Small Business

TallyPrime is an upgraded version of TallyERP 9 which was once the most popular accounting software offered by Tally Solutions. This business software is flexible in handling e-way bills, and e-invoices, and its robust security features like TallyVault, make it a top choice for over 2 million businesses globally. It also simplifies and automates accounting processes, offers robust inventory management, and ensures hassle-free tax compliance with features like automatic e-invoice generation.

There are 5 different products on Tally

• TallyPrime: It features invoicing and accounting, inventory, credit, and cash flow management, Taxation, Banking, Cost control, cost analysis, payroll management, and much more.
• Tally Software Services (TSS): It is a subscription model offered by Tally Solutions to enhance the functionality of TallyPrime. Key features of the TSS include E Way Bill, TallyPrime with WhatsApp, E-invoicing, Digital Payment and Banking Services, online data sync, and remote access.
• TallyPrime Server: TallyPrime Server is designed for medium to large businesses, offering high concurrency, secure data access, and enhanced business efficiency through its advanced client-server architecture.
• TallyPrime Powered by AWS: TallyPrime on AWS offers a secure, flexible solution to access TallyPrime and business data anytime, anywhere. It’s enabled by a virtual machine, ensuring privacy, data protection, and compliance with Indian laws.
• 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.

The latest version of standalone Tally software is Tally Prime 4, and its latest cloud counterpart is called Tally Prime Powered by AWS. If you wish to install the software on your computer Download Tally Prime and enjoy using the latest version.

Features of TallyPrime Accounts Software

• Full-fledge GST Compliance
• E-Invoicing
• Banking Capabilities
• TDS and TCS Compliance
• Multi-Currency Support
• Statutory Compliance for Payroll
• Inventory Management:
• Data Security and Audit Trail
• Customization and Integration
• Remote Access and Collaboration

Unique Selling Proposition of Tally Solutions

• Complete Accounting Solution
• Simple and Intuitive interface
• Multi-language support
• Multi-currency support
• Security features
• Modern user interface with Tally Prime
• Contextual Menus
• Data security features like Tally Vault
• Scalability
• Custom Reporting Tools
• Remote access
• Integrations
• Simplicity and ease of use

TallyPrime Plans & Pricing:

The latest pricing of TallyPrime Silver is INR 22,500 and TallyPrime Gold costs INR 67,500. Rental options and other services are also available with varying prices. You can visit the official website for the latest pricing.

3. RealBooks: Best Indian Accounting Software for Small Business

RealBooks is one of the upcoming best online 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 also offers a multitude of features along with a business intelligence system redefined for small to large enterprises.

They are more focused on the automobile sector for core accounting purposes and deliver the best reports on MIS, KPIs, and Dashboards for the automobile industry. 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 via Dropbox or directly on the cloud. And improve productivity within your organization with an inbuilt approval system to easily retrieve documents.

Summary of Top Features of RealBooks Accounting Software

• Multi-Branch Accounting
• Banking Efficiency
• Document Management
• Compliance Management
• Customer and Vendor Management
• Integration Capabilities
• Comprehensive Reporting
• Data Management and Migration
• Enhanced User Experience

Unique Selling Proposition of RealBooks

• Simplified software for accounts
• 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

RealBooks Plans & Pricing:

It offers 4 types of plans free, professional, business, and enterprise edition. Check prices on their official pricing page.

4. Reach: Best Accounting Software for Small Business

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. It is also one of the most popular software for accounting for small businesses. 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.

Reach automation software is one of the ready-to-use business software for accounts on the cloud. It is an integrated accounting software and packaged application that suits different functions within an organization.

Features of Reach Accounting Software

• Custom-made for small and medium businesses
• Leads capturing 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 be viewed on Mobile Devices
• Manages advanced Inventory
• Show Branch-Wise/ State Wise profitability
• Highly Secured and auto online backup
• Free Cloud Server, Centralized Data, and Day End Reporting
• Support 99.9% Uptime on Cloud

Unique Selling Proposition of Reach Accounting

• End-to-end business automation
• Full fledge ERP system
• Robust for branch management
• Suits 21 different businesses
• Offers integration with Zoho CRM and Shopify
• Human-assisted customer support/training
• Custom workflow
• Cloud-based software
• Multi-language and multi-currency support
• Affordable, Scalable, and Easy to use
• Security features
• Customized reports and advanced analytics

Reach Plans & Pricing:

Get in touch with the Reach Team for custom plans and pricing on their official website.

5. Saral: Best 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 and 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 its ability to create Tax Invoices in multiple Indian Languages as it supports many local languages.

Top Features of Saral Accounts Software

• Complete Accounting enabled with e-invoicing
• Inventory
• Service Invoicing
• GST Return
• E-Way Bill
• TDS Management
• AMC and Warranty
• Dashboard
• Branches into other suites of software such as TDS, Tax Office, Income Tax, FinTrac, PayBack, etc.

Unique Selling Proposition of Saral Accounting

• Simplicity and ease of use
• Comprehensive features
• Indian Focus
• Multiple language support
• Affordable pricing
• GST support
• Local Tax Report
• Mobile App
• Local and online support

Saral Plans & Pricing:

The software has a free billing and invoicing plan and a paid plan is available on a yearly subscription. Check Saral pricing on their official website.

6. Busy: Best for Small To Large Trading Businesses

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 with 4 main versions, the Express, Blue, Saffron, and Emerald for Large Businesses, 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 and 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’s cloud software. 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.

Top Features of Busy Accounting Software

• GST Accounting
• Financial Accounting
• Auto E-way Bill
• Auto E-invoice
• GSTR Reconciliation
• GST Billing / Invoicing
• Inventory Management
• Project Management
• Expense Tracking
• Integration with third-party apps
• Fixed Assets Management

Unique Selling Proposition of Busy

• Complete GST Accounting
• Customizable
• Easy to use
• Multi User Support
• Multi-currency
• Branches and Locations
• POS support
• Budgeting & Forecasting
• API Integration
• Mobile App
• Busy Online

Busy Plans & Pricing

The price depends on the type of plan you choose. Express Plan is free to use with limited features.

7. Marg: Best for Trading To Manufacturing Business

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

Also, 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 needs of customers who want to move to the cloud.

Top Features of Marg Accounting Software

• E-invoicing
• TDS/TCS
• GST compliance
• GST RCM statement
• E-Way bill generation
• Integration with popular Indian banks
• Multi-currency support
• Asset Management
• Internal Auditing
• Tax Clubbing

Unique Selling Proposition of Marg

• One Million Businesses served
• Localized for Indian businesses
• Comprehensive ERP solution
• Serves Retail, Distribution, and Manufacturing
• User-friendly interface
• eBusiness App
• Multi Companies and Multi-Location
• Multi-Currency
• Excellent customer support
• Regular updates

Marg Plans & Pricing

Plans for Marg include Baisc, Silver, and Gold editions. Check official prices on the company’s website.

8. BookKeeper: Best Standalone Indian 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.

Top Features of Bookkeeper Accounting Software

• Complete Accounting Solution
• Cross-Platform Compatibility
• GST Solution
• Audit Trail
• Custom Reporting
• Insightful Dashboard
• Smart Inventory Management
• Inbuilt Payroll
• TallyTM Compatibility
• Multi-Platform Integration

Unique Selling Proposition of Bookkeeper

• Works on an Offline Model for Desktop as well as Mobile
• Multi-User
• Tally Compatible
• User friendly
• E-commerce integration
• Comprehensive Accounting Reports
• Sync data across devices with DropBox and Bookkeeper Web Server
• Works on Windows, iOS, and Android
• Multi-platform integration
• No customization is provided

Bookkeeper Plans & Pricing

It provides a Yearly and Lifetime plan. Visit the official website for the latest pricing.

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

Accounting tools vary 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 program (software) that helps businesses manage their financial data.

It deals with 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 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 software for accounting: They are designed for large enterprises and typically include more advanced features such as multi-currency support, inventory management, and project management.
• Non-profit accounts software: Non-profit organizations’ software for accounting includes features specifically tailored to their unique needs, such as grant management and fundraising tracking.
• Freelance accounting system: 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 account 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 are 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.

Offline or desktop accounting systems are deployed on a PC or a laptop.

So the difference is obvious, 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 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.