Five Best Accounting Online Software In India

Accounting has now become digital and is bounded into applications. Thus, different software offers different accounting services. The article caters the information about the top 5 accounting online software in India.

In the initial phases, accounting was done using books and traditional pen and paper. Later, it observed the shift to computing software, and now online accounting is in trend. Like cloud computing, accounting online also saves data and other records on the cloud. Hence it is easily accessible, and editing records is a cakewalk. 

Different platforms are available online that offer these services. Some are free, while others may charge a minimal fee for their services. Apart from ease of accessibility, this online accounting also helps to automate operations. Also, this software helps reduce redundancy, eliminating any chances of error. 

Therefore, online accounting has become compulsory for medium or large-size businesses. Here is the list of the top 5 Online accounting software that should be in your knowledge. 

Zolvit Dash

Invoices can be created using custom templates using Zolvit Dash, which notifies you when a client opens your invoice. For faster settlements, you may also send payment reminders. In addition, Zolvit Dash allows you to receive payments directly into your bank account without paying any UPI fees or bank charges. There is an application that automates the filing of GST and TDS in a hassle-free manner. Zolvit Dash can be easily integrated with other applications, such as Tally and Zoho Books. In addition, the application allows you to calculate inventory automatically from invoices, create quotations, and automate purchase orders for low-inventory items. By using sales reports and suggestions, you can optimise your inventory. Make Zolvit Dash your accounting partner. 

Tally

Tally is the most reliable and easy-to-use software for accounting. It is used to record daily business transactions and maintain a record. The latest version is Tally ERP 9, which is widely used in India. 

This GST software can be linked with other business or finance-related applications. It saves time. One can easily use this software through online tutorials or enrollment in any computer institute. 

Moreover, the software comes at very affordable and reasonable pricing, making it worth your time. Additionally, no high-performance device is needed to run the application. Several versions of the software are available and can be downloaded accordingly. 

Pros 

1. Tally ERP 9 comes with GST solutions
2. No need for any other application; it is the one-stop solution
3. Enables in-depth monitoring of cash flow, profits and loses

Cons

1.  It does not allow the opening of multiple ledgers at the same time
2. No active customer support
3. System security is not up to the mark

Quickbooks

Another accounting software allows you to store, edit and enter records in the cloud. The application is developed and maintained by Intuit. The firm’s target market is small and medium-sized businesses looking for a simple yet efficient accounting solution.

Most small business owners need to become more familiar with accounting. Intuit has many useful features. Pre-installed templates can open a pre-designed format of business plans, invoices, and spreadsheets—An option to automate the user’s signature.

After subscribing to their several plans, you would be able to access all the amazing features of the software. Their mobile app will allow you to access the account on the tip of your fingers, and anyone granted permission can see and manage the account and its record. 

Pros 

1. The software comes with a tutorial that makes it easy to use.
2. It can enter or change data without performing complex tasks.
3. Quickbooks also comes with central client accounting.

Cons

1. The number of users associated with an account is limited.
2.  Does not support a large number of transactions.
3. Weak software for large businesses, one may experience crashes.

Busy

This accounting software also helps to manage your business. Busy is suitable for almost all types of business. Whether your business is a Micro, Small or Medium Enterprise, Busy can handle all your data. 

Busy has made accounting online easier with the ability to manage complete financial accounting and Bookkeeping. Features like advanced customer management, multi-location inventory, various currencies, multi-branch management etc., have made it pretty popular among users. And that is one of the reasons it is used in over 20 countries, including India, with 600,000+ licences sold worldwide. 

To cater to every type of business requirement, the company has launched three variants of the same software, Basic, Standard and Enterprise. They all serve different types of businesses with varied demands and requirements. 

Pros 

1. Busy helps you automate the system by performing complex manual tasks.
2. It performs Auto-Sync, periodically to keep your data safe.
3. Enhance data accuracy

Cons

1. Several hidden costs have to be paid to use the software properly 
2. Many often, due to automation, some errors can be observed.

Marg

Marg offers you exceptional accounting and Inventory management system, which allows the user to have full control and transparency of various financial activities. Being a popular software in India, it also comes with GST Billing and Returns filling. 

Apart from that, a free SEO-optimised website is given for its subscriber worth ₹5000. Centralising information through Barcodes allows the import of bills directly from excel and CSV files; retrieving and sending invoices, outstanding etc., on WhatsApp are some of its amazing features are retrieving and sending outstanding invoices, etc., on WhatsApp. 

Pros

1. Comes with advanced and impressive features for Data Security 
2. It also has the option to enable Branch Data Transfer
3. Marg can integrate with many other business applications.

Cons 

1. Poor Customer support
2.  Several features add to facilities but also need to be clarified among users.
3. Zoho book

The software is known for its simple interface yet high performance. This software enables you to create, track, alter and send invoices which is too simple to perform. According to many accounting experts, Zohobook is the best platform for accounting online, especially for micro-businesses. 

Freelancers and entrepreneurs often use it to manage their data online. The software comes with three subscriptions: a standard plan, a professional plan, and a premium. The standard plan costs $ 15 per month, and the professional plan costs around $40 per month. On the premium plan, one has to pay around $60. The number of persons that can be connected with the account also upgrades.

Pros

1. Supports reputable banks to pay directly from the software
2. It also has a mobile app to access and make changes in invoices in a few seconds.
3. More than 15 templates are available for invoice customisation

Cons

1.  Zoho books come with a transaction cap of ₹5000 per month, which is for an initial period.
2. Moreover, the software is also unable to track the fixed assets of a firm

Conclusion

It is important to keep up with new tools and technologies. Accounting online with software is the best example of the same. Above are some of the best software that can assist you in growth and pave your way toward success.

It is important to repay your Income-tax return and other tax. Vakilsearch is India’s top website that provides professional and accurate law services. They deal in law, tax, and legal documentation. They can be availed from their website or mobile application.

FAQ:

Which is No 1 accounting software in India?

The No. 1 accounting software in India can vary depending on specific needs and preferences, but Vakilsearch’s bookkeeping and accounting services are widely recognized as one of the most popular choices.

Which software is better than tally?

Vakilsearch provides comprehensive accounting, bookkeeping, and payroll services designed to meet the diverse requirements of businesses. Considered better than Tally, by young Indians our software ensures efficient financial management.

Which software is widely used for accounting?

Many businesses in India trust Vakilsearch for their accounting needs. With a team of experienced professionals, our expert professionals make the best use of our hi-tech software to ensure reliable financial management.

Which is the best accounting software for freelancers in India?

Vakilsearch offers accounting services suitable for freelancers. Our experts can provide you with the financial tools and expertise necessary to manage your freelance accounts effectively.

Who needs accounting software?

Accounting software is required by small businesses, freelancers, startups, as well as larger organisations, to streamline finances, track expenses, generate reports, and ensure compliance.

Read more:

• Scope of Accounting in India
• What is Accounting?
• What Is Income Tax Return in India?