What is Accounting softwareAccounting software is a system application solution for manage payable and receivable accounts in small business. It also helps to manage to generate online invoices, bills, track amp analysis inventory reports.nbspAccounting software is used for managing all accounts and financial data of your organization. It features essential accounting functions like accounts payable and receivable, account journal, general ledger, payroll, and trial balance, among many others. Accounting solutions assist bookkeepers and accountants in recording and broadcasting a firm's fiscal transactions. This software has become an invaluable resource to modern businesses. It provides detailed tracking of every last spent and reduces the chances of human error in bookkeeping.Business Accounting software is widely used by accounting professionals to manage their financial information. Using this software, you can measure, classify, verify and interpret financial data accurately.Accounting Software ModulesAccounts and Payroll Management An integral part of any accounting software, the payroll management module lets you process employee payroll, expenses, and reimbursements due to them. This module also helps in the preparation and printing of cheques while taking care of all legal and tax obligations.Inventory Accounting Management The main purpose of an inventory management module is to keep track of your stock levels. You can sort out issues related to procurement, availability, and movement of your goods. Also, you can keep a close eye on your inventory to avoid overstocking or understocking.Project Accounting This is a customized module found in top accounting software India used primarily by project management and deployment teams. Herein, both costs and applicable rules differ from one project to another. It helps in making project estimates concerning overheads and costs pertaining to labor, material, and equipment.Fixed Asset Management This module helps in the management of a companys financial data related to fixed assets in a more accurate and precise fashion. It helps in taking care of audit history, cost records, depreciation calculation, resource allocation, etc.Billing amp Invoicing An integral module of any accounting ERP software, billing amp invoicing helps automate several routine tasks. From cheque writing and bookkeeping to advanced double-entry apps, billing amp invoicing helps eliminate manual data entry. It also ensures that your accounting figures are exact and accurate.Accounting information system for Tax Management An essential module of any accounting software, tax management assists in carrying out tax calculations automatically, along with tax reporting and integration of multiple tax rates. You can easily collect tax information from all financial documents into one single repository to generate reports necessary for tax filing.Accounts ReceivablePayable For the layman, accounts receivable refers to the money owed by customers to the business. The accounts receivable module assists in managing customer invoices and processing of customer payments. This module is chiefly used to create bills or invoices for customers. You can also keep a tab on individual deposits to bank accounts so that deposit information can be uploaded and applied to customer accounts automatically. This modules master files contain information related to the customer, including name, address and phone number. It also shows the amount due to a business along with the length of time the customers balance has been outstanding.Online Accounting Software Accounts payable refers to the money owed by a business to its vendors. With the accounts payable module, you can track money due to vendors, discounts, and payment terms for all invoices. You can also print cheques directly to vendors. In addition, you can find master files containing vendor information, including name, address and phone number.General Ledger The central repository of the accounting records and data, the general ledger module acts as the command centre for accounting information. Herein, you receive entries from other modules, such as accounts payable, accounts receivable and payroll modules. Without the general ledger, you wont be able to create vital financial documents, such as trial balance, balance sheet, and profit and loss statement. This module is used to record financial transactions not recorded in other accounting software modules. It helps create a trail of information needed for audit purposes.Accounting Software FeaturesGST Filing This particular module helps you file GST returns seamlessly by pushing transactions directly into the GST portal. Make your business GST compliant by preparing and filing GSTR-1, GSTR-2, GSTR-3 and GSTR-4 return online effortlessly.Debt Collectionnbsp Through the debt collection module, you can keep track of whether the overdue bills have been collected or not. You can also quickly identify and resolve issues which may be affecting the debt collection process.Budgeting and Forecasting So, youve crunched your numbers for the current year and balanced the books, crossed your Ts and dotted the Is, now what Youve got to assess the financial performance so that you can set a budget for the next year. Based on your budget, you can establish estimates of sales targets (both realistic and challenging) with the help of an accounting solution.Top 10 Advantages of Accounting SoftwareBasic Accounting The major benefit of accounting software is that it enables even the non-accountants among us to crunch numbers to make sense of them. You can perform automated calculations putting you firmly in the drivers seat. You dont require any special training to execute the entirety of your accounting operations. And you get to do it in compliance with the legal standards of your statecountry through the convenience of your mobile device. Whats more, you dont have to hire an accountants services, thereby, saving you cost.Accounting Mobile App Most top accounting software offer mobile app functionality to help take care of your needs on the go. These solutions are easy on the pocket and nowadays offer native Android and iOS apps for their users. This accounting software are high on operability, and in some cases, even match the desktop version of the solution.Accounting System Increased Productivity By migrating your financial data to an accounting ERP software, you can automate and streamline your mundane everyday tasks. Tasks such as collection, organising, and analysis of your most sensitive data become a breezy affair. This is turn helps you invest your money in areas where it can be better utilised.Accounting system of tax compliance Accounting software helps adhere to tax regulations of the land. The tax rules can be pre-set and are taken care of by the vendors whenever an update happens. It also acts as a source of information pertaining to audit and tax making your job easier. All you have to do is take it out for a run and sit back while the accounting system does the work for you.Accounting PricingnbspBasically go for an accounting solution that fits your budget. If a barebones system can do the trick for your business, thats the one you should choose. If you want the whole bells and whistles (accounts receivablespayables, project accounting, fixed asset management), then that should be your top pick. Theres a caveat though. Itll be heavier on the pocket.Accurate Forecasting So, youve crunched the numbers and made sense out of your financial data. What next Well, youd have realised by now that analysing the different financial performance patterns and trends would take a while without a solid system. To give meaning to numbers you need to deploy a top accounting solution. Itll assist you in situations where youll need to cut expenses or where youll be making investments. This will help give a clear view of your present financial scenario helping you devise innovative strategies to funnel resources in the right direction.Accounting solutions Security For any accounting software, the protection of the organizations financial data is of utmost priority. This information is considered critical and must be prevented from falling into wrong hands. This is where an accounting solution comes in handy, helping you keep your data secure either through maintaining a backup copy or having multiple security clearance levels for access to sensitive data.nbspnbspnbspnbspReliable support Buying a business accounting software is just the tip of the iceberg. Youve got to test their support function to assess whether their service is up to the mark or not. Most accounting software vendors promise to deliver quality, quick and reliable support. But a promise is one thing, and fulfilling it is another. So, wed advise you to test their support in advance.Computerized AccountingnbspHave you heard the phrase, no shoe fits all feet Its the same case with accounting systems and businesses. Try as you might find one-size-fits-all accounting information system, you wont be able to. Theres a very simple reason for this. Each company follows specific finance calculations and observes a distinct set of rules. Find a scalable accounting solution that fits your requirements like a glove and it can grow in line with your business as your operations expand.Ease of usenbspUsability is an important parameter when it comes to choosing which accounting software to go for. Since, accounting procedures and calculations, are not a piece of cake, it helps to have an intuitive solution where information is arranged neatly on a single dashboard. Once you get the hang of it, you should easily be able to run your tasks by following a navigation pattern youve learned.Cost savings Which business doesnt like to save a few bucks on the side, huh Most business accounting software help you do just that By automating administrative tasks and core calculations, you wont have to devote valuable resources or outsource finance management to a financial expert.Online Accounting SoftwareOnline accounting software functions just like any other SaaS (Software as a Service) solution. Every critical accounting amp financial information is stored in the data centre, and all you need is the internet connection to access the information. This type of software also ensures higher data security and backup, with restricted online access.Web-based accounting software promotes single ledger or common ledger accounting from anywhere and at any time. Instant data sharing through cloud-based accounting software eliminates the chance of repetitive data entry. It ensures that every user gets access to the latest list of products, invoices and customers to manage the general ledger, categorise transactions, generate payroll, and track payments efficiently.Types of Accounting Software listPersonal basic accountingLow-end marketMid-marketHigh-end marketHorizontal marketBanking accounting softwareConstruction accounting softwareMedical billing softwareNonprofit or fund accountingPoint of sale (retail) accounting systemReal estate accounting softwareChild care management softwareManagement for Bookselling accounting softwareHybrid accounting solutionsSaaS accounting softwareSpreadsheetsCommercially-available softwareEnterprise resource planning software (ERP) accounting softwareCustom accounting softwareAccounting Software For Any BusinessnbspAccounting software for every business, whether its a largenbspand small enterprise or a confectionery, a supermarket or an MNC, an educational institute, an NGO or your local Kirana shop, needs an accounting software solution. Through a business accounting tool, you can create invoices, track expenses and generate multiple reports to intricately analyse your business's performance.Your local grocery store can keep track of its expenses. GST Accounting software for large businesses can help keep tabs on their inventory levels, manage vendors and take care of their purchase orders as well as keep track of time and invoice billable hours. All in all, deploying an accounting software would sort out a lot of things and make life a hell of a lot easier. Say goodbye to month-end late nights HurraynbspAccounting Software Solution For Financial BusinessNumber crunching is the first step when it comes to making sense of your financial data. This is where an accounting solution comes into the picture. Business accounting software gives numbers meaning, so you can decide whether you need to cut down on expenses or start pumping up investments. By using an accounting software solution, youd have a clearer overview of your present financial state. This, in turn, would help you devise strategies to steer your business to new heights by allocating resources prudently.In addition, through the magic of innovation, you can program your accounting software to send recurring invoices, alerts and notifications, helping you save time. You can effortlessly execute accounts reconciliation by matching transactions. Have to submit quotes or estimates Go for accounting solutions which can convert those documents to invoices in a few clicks. Reorder products when your inventory levels drop below a set threshold by generating purchase orders automatically. Basically, you can automate a great many tasks with an effective accounting software.List of Most Used Accounting Software in IndiaTally ERP 9 accounting softwareAlignBooksnbspAccounting SoftwareZoho BooksnbspAccounting SoftwareGiddhnbspAccounting SoftwareBusy Accounting SoftwareQuickBooksnbspAccounting softwareMarg ERPnbspfor Accounting and BillingVyapar Accounting SoftwareSaralnbspAccounting SoftwareSap Accounting SoftwareBuy Accounting Software (Things To Be Consider Before Buying)If youre looking to buy accounting software, there are certain criteria which you may need to evaluate first before taking the leap. Lets find out what you need to keep in mind before investing in an accounting management solutionDo I Need It or NotnbspThe first step on your journey to buy accounting software is assessment of your need. Whether you really need it or not. Do you want a core accounting solution that takes care of your major finance accounting tasks like salary processing, and leave and expense management Do you need an accounting software to execute your payroll needs seamlessly Or you require a customised accounting software solution that helps you take care of employees tax declarations and filingsAfter youve performed the internal assessment, youve to choose the best accounting software in India according to your defined needs from a list of available accounting software.nbspCompare prices and make budgetnbspThe beauty of accounting software in India which are currently available is that you have several options to choose from. Options which are available at different price models. If youre a heavy hitter, you can go for an on-premise accounting solution. If youre working on a limited budget, you can take a monthlyyearly subscription. You also have the option of pay per use where you pay as per the amount of bandwidth you utilise.Ask accounting software demonbspCheck if the accounting software in India offer free demos or trial version. This is especially useful if you dont want to make a significant investment without having a look at the software first. Find out from the list of accounting software whether it fits the bill and offers the featuresmodules youre looking for. After going through the demo, evaluate if youre comfortable and willing to take the plunge.Check Software Daschboard User Experience (UXUI)nbspUX plays an important role when it comes to choosing an accounting software solution. The design aesthetic of the system, how pleasing it is on the eye, its user-friendliness can swing the buyers decision. A comprehensive accounting software overflowing with modules, will not overwhelm the user if it backed by a clean interface.Accounting Software Price ListnbspAccounting Software ProvidersnbspnbspStarting PricenbspBook Keeper Accounting Software300.rsMonthAlignBooks2000.rsYearBusy Accounting Software7200.rsYearMarg ERP 98100.rsZohoBooks2499.rsNote Product prices provided by OEMs, as per the Indian market standards.