Managing finances, taxes, and cash flow has become significantly easier due to the rise of online accounting software. Here, we’ll delve into the top ten online accounting software solutions for Indian small businesses in 2023, taking into account your feedback.
1. RefineBooks
RefineBooks is top in the list for a reason, its simplicity and ease of use. A person who does not have experience in accounting can also learn basic usage in half hour.
User interface is easy to grasp and you will be aware where are you in application at all times. There is no need for any lengthy setup, just enter your gstin and you are good to go. They also provides a free trial for 30 days.
As soon as you enter GSTIN of your debtor or creditor, it fetched all details like name, address etc from GSTN portal. This functionality also saves a lot of time.
Email and chat support is responsive and helpful.
It’s a great option for small and medium businesses.
Pricing – 2999 per year and 4999 per year for premium plan. They also provides 8 years free access for every year you subscribed. So, if you decide not to continue with them or your business is closed down, you will not access. As per Income tax act, you are required to keep books of accounts for 7 years. That’s why they have provided 8 years access.
Pros:
- User-friendly UI/UX.
- No setup required to get started.
- Anywhere access as it is completely online.
- Compatible as per MCA log guidelines.
Cons:
- Multi-branch option is not there.
- Multi-currency option is not there. So can’t be used by freelancers and exporters.
- Not for users who need advance features.
If you are looking for software for small or medium business which you can access from anywhere, then you can definitely try for RefineBooks. Click here to visit their website.
2. Zoho Books
Zoho is one of the famous names in the CRM software globally. It has launched Zoho books around 2017 when GST is introduced in India.
It is one of the most trusted software company in world. But Zoho books is developed considered global market and not specifically for India. So accounting concepts are taken from US market and Indians (including CAs) may find it difficult to use.
If you are ready to spend some time to learn it, it is a good option. It has all the features you need to manage your business. It also provides a free trial for 14 days. Although, pricing is on higher side.
Also, please consult your CA if you falls in audit as they may not be familiar with Zoho books.
Also users who wants advance features, integration with other apps and can afford higher pricing, Zoho books is a good option.
Pricing – From Rs. 9,000 per year to 96,000 per year
3. The munim
Themunim is a new entrant in the market. It has good speed with basic features which are required for small businesses. It does not provide a free trial but a money back guarantee of 30 days. It also provides option to generate e-way bill and e-invoicing from within the software with some additional pricing on credits basis.
Pricing – 999 per year (supposed to be increased)
4. Ledgers
Ledgers accounting software is developed by India Filings. India filings is a company providing trademark, copyright, gst registration, company registration etc. services.
It has all basic featurs but quite difficult user interface. There is no information on pricing on their website. You need to contact them for pricing. Also, there is no option for free trial or money back guarantee.
Pricing – Price on Request (you have to contact support for pricing)
5. Giddh
Giddh is another software in this category. It has all the basic features but I found it very slow and difficult to use. There are some features or options which I do not understand. For example, while creating sales invoice it asks for two options Generate sales or Generate Sales & Update A/c.
There is no information about free trial or money back guarantee on their website.
Pricing – 4000 per year for 1 company and 10000 per year for 10 companies
6. HostBooks
HostBooks is another cloud based accounting software created specifically for Indian businesses. It offers features like invoicing, expense tracking, financial reporting, and bank reconciliation. Hostbooks has many other software for CAs like TDS, GST, Income Tax etc. User interface is quite old looking and not very user friendly.
Pricing – Price on Request (you have to contact support for pricing)
7. Align books
Align books is an accounting software with a lot of features. It makes it a good option for a power user but not so good for a basic accounting requirement.
It has mobile app as well as desktip offline app.
Pricing – Price starts at Rs. 2500 per year and goes up to Rs. 30,000 per year for ERP plan.
8. ProfitBooks
ProfitBooks is a user-friendly accounting software solution designed specifically for small businesses. It offers features like inventory management, expense tracking, invoice generation, and financial reporting. ProfitBooks also offers the unique feature of managing multiple branches or locations of a business.
Pricing – Pricing is Rs. 8000 per year.
9. Book Keeper App
Book Keeper App is a comprehensive mobile and desktop-based accounting solution. It’s fully compliant with the Indian GST system, making it a popular choice among small businesses. Its offline functionality and ability to sync data across devices when online differentiate it from other solutions.
10. myBooks
myBooks is an easy-to-use online accounting software solution by Zetran Corporation. This solution automates various accounting tasks and offers features like invoicing, expense tracking, financial reporting, and bank reconciliation. It also offers real-time financial insights, which can be crucial for business growth.
11. Reach Accountant
Reach Accountant is another cloud-based online accounting software that is designed keeping Indian small businesses in mind. It is packed with features like invoicing, expense tracking, sales tracking, and provides multi-user access.
When selecting an accounting software, ensure that it suits your business size, industry, and specific needs. Remember to check if the software is user-friendly, scalable, integrates with other systems you’re using, can handle the latest GST rules, and fits within your budget. The right accounting software can streamline your processes, maintain compliance, and contribute to the growth of your business.
12. Ankpal
Ankpal is a new entrant in the market. It focuses more on GST filing and reconciliation part. It has all the basic features but quite difficult user interface.
Pricing – Rs. 10,000 per year with 2 users
