In today’s ever-changing business world, having a good financial plan is key to success for SMEs in India.

If you’re looking for accounting software that can help you streamline your finances, make sure you’re following GST rules, and give you useful info about your business’s finances, you’ve come to the right place.

We’ve put together a great list of the top 10 accounting software options for SMEs in India.

No matter if you’re just starting out, a big business, or already established, these software solutions are here to help you succeed in India’s ever-evolving business world.

Best Accounting Softwares For Small Businesses in India

1. Tally.ERP 9:

ERP 9, Tally India’s best accounting program, is known for its flexibility and easy-to-use interface. It takes care of everything from payroll to inventory and finance.

What makes Tally stand out is that it’s compliant with the GST. This is really important for businesses trying to get a handle on India’s complicated tax system. Tally keeps your company up to date with the latest tax laws and rules thanks to its regular updates.

2. QuickBooks:

QuickBooks is a simple accounting app that helps you stay GST-compliant. It makes it easy for small businesses to invoice, keep track of expenses, and get real-time info.

With the ability to connect to third-party apps, QuickBooks becomes more flexible and you can tailor your financial management to fit your needs.

3. Zoho Books:

If you’re looking for an easy-to-use accounting software for your small business, Zoho Books is the way to go. This cloud accounting software makes it easy to keep track of everything from billing to spending.

It’s a must-have for modern SMEs in India because it gives you real-time info, helps you stay GST compliant, and gives you great reports.

4. Marg ERP 9+:

If you’re an Indian SME, you’re probably familiar with Marg ERP 9+. It’s an Enterprise Resource Planning (ERP) program specifically designed for small and medium-sized businesses. It’s got all the bells and whistles you’d expect, like inventory, payroll, e-commerce, and accounting.

It can be tailored to fit the needs of a variety of industries, making it a one-stop-shop for your business.

5. Busy Accounting Software:

Busy accounting software has a ton of features, making it perfect for businesses with complex accounting needs.

This is why it’s so popular with businesses looking for an all-in-one accounting solution that includes e-way billings, GST compliance and inventory management.

6. Vyapar:

Vyapar’s mobile-first app is designed for small businesses and traders, as well as retailers. It makes it simple to do everything from filing invoices and following GST rules to tracking expenses.

Vyapar offers the flexibility and user-friendliness that modern businesses need in the highly competitive market of India.

7. ProfitBooks:

If you’re a startup or a small or medium-sized business looking for cloud accounting software, then you should definitely check out ProfitBooks.

It’s well-known for its features like invoicing, keeping track of stock, and getting real-time financial info. It’s got a user-friendly interface, and the tools are GST-compliant, making it easy to manage your finances.

8. Saral Accounts:

No matter how big or small your business is, Saral Accounts has got you covered with easy-to-use accounting software.

Saral Accounts makes it easy to keep up with GST, keep track of your stock, and handle payroll. It takes care of all your financial stuff, so you don’t have to worry about being late or not following the rules.

9. SlickAccount:

SlickAccount is a cloud-based accounting software designed to automate and simplify financial processes. It focuses on providing a seamless user experience while offering GST compliance. Ideal for startups and growing businesses, SlickAccount is a valuable asset for efficient financial management.

10. Wave Accounting:

Wave Accounting is an easy-to-use, free accounting software designed for very small companies and freelancers. It comes with basic features like invoicing, expense tracking, etc., but it’s a great starting point for businesses looking to simplify their finances without breaking the bank.

How to Choose the Best Accounting Software?

It might be challenging to choose the best accounting software among the various options available today. We made this simple guide to help you choose the best accounting software for your business because of this.

1. Assess Your Business Needs:

Start by getting to know what your business needs are. Think about how big your company is, how complicated your accounting is, and what industry you’re in.

2. Cloud-Based vs. On-Premises:

Decide whether you want cloud-based accounting software or an on-premises solution. 

• Cloud-based options offer accessibility from anywhere with an internet connection, automatic updates, and data backup.

• On-premises software provides more control over your data but may require a significant upfront investment in hardware and IT infrastructure.

3. Ensure Compliance:

Tax compliance is a top priority. Make sure your accounting software follows the local tax laws and rules. For instance, if you’re in India, your accounting software should follow the GST laws.

4. User-Friendly Interface:

Choose software that’s easy to use. A complex system can cause slowdowns and frustrations. Make sure the software also has training and help for your team during the changeover.

5. Scalability:

Think about how your business will grow in the future. Choose accounting software that can keep up with your business. Scalability is when the software can grow with your business and keep up with your cash flow.

6. Integration Capabilities:

Accounting software should be able to work with other business systems and tools, like customer relationship management (CRM), payroll, e-commerce, and more. Integration makes data flow smoother and helps your business run more efficiently.

7. Security Measures:

First, make sure your data is secure. Make sure the software uses strong security measures like encryption, access controls, and regular security patches. But the most important thing is to keep your money safe.

8. Read Reviews and Seek Recommendations:

Check out what other companies in your field are using the software you’re thinking of. Reach out to your friends and colleagues who have experience with accounting software. Their expertise is invaluable.

9. Cost and ROI:

Finally, think about how much your software will cost and how much you’ll get back in return. Budget-friendly software is great, but you want to make sure it’s high-quality and has all the features you need. Having the right software can really pay off in the end.

Final Thoughts

Choosing the best accounting software for your business is probably one of the biggest decisions you’ll make as an owner. Figure out what you need, compare cloud vs. on-prem options, make sure it meets compliance, is easy to use, and can scale up or down as needed, plus think about integration, security and cost.

If you’re looking for the best accounting software to help you manage your finances, make informed decisions, and expand your business, then you’ve come to the right place.