Accounting software plays an important role in planning future tasks using budgeting and forecasting.

Accounting Software

How To Select An Accounting Software?

Business size and stage

Your requirements can be different depending upon size and stage of your business.  You may be OK with having a free solution if you are just starting out, but need a much more efficient and scalable solution when your business is growing fast. Also consider what are your pressing needs for buying/replacing existing accounting software?

Features

Make lists of features and functionalities you need to have and you wish to have. Most important consideration should be ease of use and time saving features.

Basic features include routine accounting tasks, automated processes, templates for creation of estimates and proposals, tax preparation, multiuser access, mobile and tablet access and third party integration etc.

Questions to vendors

-Which size of business their solution caters to?

-Is their solution fit for your industry?

-Do they offer customized solutions?

-Security measures for securing the data.

Shortlist

Shortlist vendors offering solutions close to your need. You may not be able to find a accounting software meeting all your needs, but that’s obvious, so just decide for close matches.

Cloud/On premise

If you are a small company, short on budget, but need more features and less hassles, or you have employees working from different locations,  go for Cloud based online accounting system.

 

But for companies who are growing, are extremely concerned for data security and looking for long term cost effective solution, on premise version can be best.

Find

Try to find out what your close competitors and other businesses in your Industry are using.

Budget

Decide on how much you want to spend and research on how much from your list you can get in that budget.

Consult Staff

Speak to your accountant and discuss the shortlisted choices. Also take opinion of staff members as it sometimes brings some important points out which you might have missed.

 
 

Do You Need An Accouting Software?

Do you want to keep your transactions up to date, set up your account in minutes and to create and send invoices from anywhere, then you need accounting software that records and processes accounting transactions.

 

Accounting software may be desktop based or online that can be accessed anywhere any time with Internet. These two types of accounting software vary greatly in complexity and cost.

Reasons why businesses install accounting software are:

 

  • Accuracy: Accounting software increases the accuracy of your accounting records eliminating human errors in calculation.

  • Speed: Accounting software allows businesses to process accounts with higher speed than manual processing.

  • Security and Safety: With accounting software data is securely stored at web servers which are reliable and also provide automatic data backup.  This reason is more relevant to online (cloud based) accounting softwares.

  • Cost: Accounting software brings higher efficiency with higher speed, and reduces human efforts reducing overall costs.

  • Reporting: Accounting software provides the necessary, timely and accurate financial information in the form of reports.

  • Connect anywhere: Most of the accounting softwares have online access allowing anytime and anywhere access, providing increased flexibility to employees and business.

Best bets for Accounting Software

Best Overall for small businesses
Cost : 

Rs. 8999(approx $134)/year

Currently at 2699(approx &40)/year

@ 70% off

Features : 
*****
Platforms : 
Any web Browser
Business Size : 
S
Ease of Use : 
Deployment :
*****
Customer Service : 
Highlights
  • User friendly dashboard displaying financial health of business at one place.

  • Excellent automated features saving time.

  • Support through phone, chat and several self help resources.

  • Features are “Accountant Approved”.

  • Free 1 month trial.

  • Mobile app has only basic features.

Best for Micro and Small Businesses
Cost : 
 Rs 2999(Approx $45)  per organization/ year 
Features : 
Any web browser
Platforms : 
****
Business Size : 
Ease of Use : 
Deployment :
Customer Service : 
*****
Highlights
  • Free 14 day trial.

  • Low price with high value.

  • Price tag includes excess to all features and unlimited use of features.

  • Clutter free dashboard,  easy for non tech users.

  • Automated banking with Secured online transactions.

  • Powerful reporting.

  • Outstanding customer support.

Best for free
Cost : 
Free
Features : 
Platforms : 
Any web browser
***
Business Size : 
Ease of Use : 
Deployment :
****
Customer Service : 
**
Highlights
  • Simple and easy to navigate dashboard.

  • Time saver like automated invoicing and billing.

  • Easy templates for reporting and for other financial documents.

  • Paid customer support

  • If business expands,  wave can be quickly outgrown.

 Cloud
S
cloud
S
Cloud
****
*****
 

Featured : Strong and Powerful

Featuring Accounting Software that you should definitely consider. They have features or special

deals that are too attractive to ignore or have been recently reviewed in greater detail

Showcase: Our full list of Accounting  Softwares

Freshbooks

Accounting tasks using FreshBooks is easy, fast and secure. Tasks like capturing expenses, sending invoices, and tracking time can be done in minutes. FreshBooks accounting software offers user friendly cloud based solution for non accountants. Wide range of accounting tasks can be performed on the go.

Xero

Xero is web based and is for small businesses. It is affordable and is known as "QuickBooks alternative". It has an impressive dashboard and simple to use navigation. It is cloud based that provides real time access to what you need, when you need.

Planguru

Planguru software offers business forecasting, budgeting and performance review. It has pre built Integrated financial statement structure.

Planguru is helpful for managers or owners in better decision making, be it operations budget planning for a multi department business or financial forecasts for a bank.

Kashoo

Kashoo is one of the best online accounting software for small businesses. It is a do it yourself solution. Performing basic accounting functions like sending invoices, keeping track of expenses etc.  becomes extremely easy with Kashoo software.

Free agent

FreeAgent helps to take care of day to day businesses. It keeps track of your cash flow, profitability and money management. FreeAgent is best for freelancers, consultants and other small businesses.

KashFlow

KashFlow accounting software has an integrated payroll module. It is easy to use powerful accounting software accessible from anywhere. It offers free and fast support. Invoicing is automated and allows invoicing templates.

BillQuick

BillQuick accounting is for small and medium size firms at an affordable price. Accountants use BillQuick to manage day to day accounting tasks. BillQuick software is designed and created to assist business increase its performance, streamline processes and make faster decisions.

Recurly

Recurly provides flexible, trusted accounting solutions Daily billing tasks are simplified and smartly automated. Workload is simplified in Recurly solution.  It also helps to prevent lost revenue, provides business insights allowing you to spend less time in managing your billing.

Simple Invoices

Simple Invoices is an open source, web based and free invoicing system. It can be installed on a server/desktop or used from cloud. It offers easy tracking of finances.  This system lets you create estimates, accept payments, send professional invoices, generate financial reports etc.

Budget Maestro

Budget Maestro has revolutionised the way to use and handle key financial data. Budget Maestro budgeting and planning software product let you focus on the performance and structure of your business. It offers better data and decision making structure.

GnuCash Free Accounting Software

GnuCash is small business financial accounting software, available for free. Easy to use yet flexible and powerful.

WorkingPoint

Workpoint is a business process management (BPM) software solution. It provides highest level of agility by delivering users with visibility and control over their business processes reducing reliance on technical resource.

Harvest

Harvest is intuitive software, no requirement of training, and is outstanding in tracking time and expenses/bills. It offers a simple, easy to use platform that lets you easily track time and turn billable hours into professional invoices, manage timesheets and projects, and unlimited clients/projects and invoices for paid customers.

Sage One

Sage One accounting offers every feature from invoicing to full accounting which is easy and intuitive. Excellent customer support. Easy customizable invoicing, tracking payment status, accepts payments, project management tools, and email notifications with reminders.   

Outright

This SaaS software automates your accounting tasks by integrating all accounts in one place and consolidating them. Features online bookkeeping, online small business accounting, self employed taxes, bank auto connect, importing data from QuickBooks.

Financial Edge by Blackbaud

Only non profit accounting software which adapts to the organizations unique needs. Provides excellent reporting, non profit workflows, grant and restricted fund management, budgeting and collaboration with the fundraising department. Easy imports from databases.           

Yendo

Merges cloud accounting with CRM and bulk emailing tools. Provides a clean simple interface that can manage common accounting tasks like invoice creation, reporting, managing expenses and cash flow, creation of budgets – monthly and annual, by tracking your expenses.

Flipside – Can manage small inventories or number of employees and less integration with third party applications.

Deltek Ajera

DeltekAjera is a perfect solution for architects and engineers especially for small to medium size company as it is a bundled version of project management and accounting software. It features accounting, timesheets, project management and scheduling, billing and resource management tools.

Flipside – Reporting not efficient. Too many small updates frequently.

Pandle

Free, efficient, cloud based accounting aimed at small businesses. Terminology is different for new and experienced users hence making it easiest to use software. Very fast speed, with all the basic features like invoicing, importing customers & suppliers, quotations, accepting payments, managed payroll services, multiple currencies etc. Phone and email support available.

Please reload

Quick links to Showcase Softwares