Cloud Based Accounting Software In India

Cloud Based Accounting Software In India

Top 7 Cloud-Based Online Accounting Software for India GST

Listed here are a few best cloud-based accounting software online for small businesses in India. Let’s take a look right below:

1. Real Books – Online Accounting Software

RealBooks

Real books is one of the best cloud-based online accounting software in India with lots of functionality and rich features integrated into the system.
It is one of the best accounting software in India that is scalable for small businesses with multi-branches and multi-companies under one roof.
A free accounting software particularly for a single user with up to 500 entries a year.

It is not just any online accounting software, it is an advanced accounting software application on the cloud.
With Real Books, you can add an unlimited concurrent number of users, open multiple companies, and multi branches under it.
And information about your entire branches and companies is accessible with a single click.

Real Books also provides vast and in-depth configurations, out of the box for real-time accounting purposes and business intelligence tools.
The system provides you the edge you need to make intelligent business decisions consistently.

Some features of the products include simple inventory to advanced inventory along with complex manufacturing processes and other added modules.
It also integrates with Retail POS Billing, Barcoding, and Inventory that making Real Books more compatible for enterprises with Retail POS stores.
There are several MIS reports on taxation that makes it easy to file GST Returns as it is seamlessly formatted with the GSTN upload.

An In-depth reporting on GSTR-1, GSTR-2, and GSTR-3 Reports make Real Books an ultimate virtual CFO for your Enterprise.
Real Books can handle billions of records simultaneously and are built for scale, enterprises can restrict any user to access the system from a fixed location using Static IP.

Large companies who are trying to migrate to the cloud can undoubtedly configure Real Books that work in a distributed environment with lots of concurrent users and a high volume of transactions.
Check out the free guide below to learn and start using Real Books.

online accounting software

 

2. Reach – Accounting Software

Reach accounting software
Reach is again a popular online cloud accounting software in India.
It is also one of the best cloud-based accounting software in India popularly known for business automation

Reach is one of the easy-to-use Online Accounting Software ideals for any business willing to implement cloud accounting for Indian Business.
This Accounting Software comes with features like the Business Dashboard, CRM, Inventory Management, Billing & Invoicing
It also includes Repair Management, Accounting & Tax Management, Mobile App, and many more integrated with an ERP system.

This business automation software is powerful enough to run 21 different businesses from end to end and is ready to use accounting software on the cloud.
Reach is integrated accounting software and application which suits different functions within an organization.
To know more about how it works navigate to look at the video on its website. GST Reports are available in this system.

 

3. Zoho Books – Cloud Accounting Software

ZohoBooks

Zoho is one of the topmost online accounting software on the global market.  ZohoBooks is a simple, easy-to-use business accounting system to help you manage your accounts online.
It is one of the highly automated GST accounting software for small businesses in India.

You can subscribe to a 14-day free trial to experiment with all the features that ZohoBooks provides.
It also provides a free subscription plan under the GST Scheme launched by the Indian Government.

Zoho is officially providing free GST accounting software for India with businesses having a turnover of fewer than 1.5 crores.
ZohoBooks is easy-to-use, online accounting software for small businesses to manage their finances and stay on top of their cash flow.

It is ready accounting software that lets you send invoices, reconcile bank transactions, track inventory, generate reports
A strong GSTN filing system integrates the GSTN Network system through an API that allows you to automate your GSTN filing.

You can also manually upload and file GST returns effortlessly. Reports such as GSTR-1, GSTR-2, and GSTR-3 are already available with Zoho.
In fact, ZohoBooks is also the first online accounting software in India to launch the GSTR 9 report and the filing process for GST annual return in ZohoBooks is quite easy and comprehensive.

 

4. QuickBooks – Accounting Online

quickbooks

QuickBooks Online is a registered trademark and a product of Intuit Inc.
You can use QuickBooks for accounting online, a world-known cloud-based online accounting software.

It is a simple online accounting system for business owners to make informed decisions.
With Quickbooks, you can run your business Anytime and Anywhere and get real-time data.

One major feature of Quickbooks which distinguishes itself from other accounting software is bank integration.
Businesses can connect their bank account to automatically import and categorize transactions.
Quickbooks application also provides other APIs to integrate your business third-party apps.

Thus it can import bank transactions automatically with online banking.
Millions of businesses around the globe love Quickbooks, get a free trial without having to use any Credit Card to Sign Up.

And compliance including GST Reports such as GST-R 1, GST-R 2, and GST-R 3B are also available for India GST.
Quickbooks has also recently updated their GST-R 9 report for filing the annual tax return for India

 

5. ProfitBooks – Cloud Accounting

profitbooks

ProfitBooks is amazingly simple and fastest among the list of business best accounting software in India for small businesses
It is one of the fastest business online accounting software.

However, ProfitBooks is also best for inventory management to take complete control of your Inventory
Also, it lets you create beautiful invoices, track expenses, and manage inventory without any accounting background.

ProfitBooks provides detailed tax reports on the items sold and purchased. This not only saves time during the tax period but also make tax consultant take a faster decision.
This online accounting software allows you can streamline your purchase and sales management.

And faster fulfillment of sales orders, manufacturing inventory management, warehouse, and customer and supplier management.
ProfitBooks also lets you take complete control of your inventory and provides insightful reports on inventory workflow.

It also provides a free trial signup option for startups and is 100% free for a single user.
GST Reports are available for easy filing in this online account software.

Other than Profitbooks there are more free accounting software options online for Indian Businesses.
 

6. ZipBooks: Cloud-Based Accounting Software

zipbooks

Simplicity is the key to Zipbooks, yet another best cloud-based and online accounting software in India.
ZipBooks is the only super simple and easy-to-use cloud-based accounting software designed specifically for small businesses.

It enables you to streamline your financial operations and increase productivity.
Also, you can get access to all essential accounting, inventory, sales, purchase, and CRM modules.

Like any other full-fledged ERP system, ZipBooks has a complete sales and purchase life cycle that is tightly integrated into the system
Order to Cash and Procure to Pay life cycle can seamlessly manage your entire business operation.

Thus you are able to make invoices directly from sales orders and/or quotations and much more but it has its own limitation.
Businesses can get access to the GSTR-1 reports, Sales Return Summary, and HSN Summary report from ZipBooks accounting software in order to publish returns.

But most of the extended features such as GST Reports, TCS, TDS, and E-invoicing are missing from this accounting system.
Therefore ZipBooks provides a cloud ERP Software named ZipERP that is an extended version of ZipBooks.

So those who are planning for an ERP system with extended features we would suggest a ZipERP migration.
ZipERP is a full-fledged enterprise resource planning system for Small and Medium Enterprises in India.

7. AlignBooks – Online Accounting

 

zipbooks accounting software
AlignBooks is the fastest growing digital disruptor in online accounting services that combines ease of use with functionality and compliance.

Also, it is an integrated multi-location, multi-language and multi-currency cloud accounting software loaded with rich features and dashboards

And ready to use business solutions at unmatched costs with readily available GST reports in the system.

With a solid foundation, Alignbooks also provides key capabilities and several features integrated into the system along with Built-In operational controls.

AlignBooks key modules include sales, purchase, finance, inventory, POS, job work, production, payroll, and asset management.

Some of the common features include approvals, user access, and privileges.

And there are multi-currency, multi-location, dashboards and MIS, Email/SMS notification, user-defined fields, and attributes.

 

Bonus: HostBooks Accounting SaaS Applications

HostBooks

HostBooks is a group of cloud accounting software applications that makes accounting and tax compliances much easier.

Because it consists of a group of applications that is fully automated and comes together to address the modern-day compliances of Indian Businesses.
HostBooks also works proactively as an end-to-end solution that significantly reduces a lot of time and overall cost.

As it allows small businesses to manage and automate all compliances on a single cloud platform.
And the best part is you get the API integration to bridge connections with Nodal Agencies.

Modules of the software include Accounts, E-Way, Payroll, POS, TDS, GST,  E-Invoicing, Income Tax, NeoBank, and GSP solutions.

 

Recap on Cloud-Based Accounting Software Online, India

Most of us have heard that accounting apps online are popular among solo entrepreneurs rather than enterprises.

You have heard it right because today you will find various accounting apps online with basic features, and most of which are new ventures.

So the basic accounting features are good for solo entrepreneurs or startups but aren’t suitable for enterprises.

But it is also true that there are accounting software vendors who are capable of delivering accounting apps for enterprises.

And it includes advanced accounting features such as branch accounting, taxation, complex inventory management such as job work and production.

It also includes an order to cash and procure to pay life cycles.

Large Enterprises need these robust accounting systems to efficiently run their businesses online.

They also need a more scalable online accounting system if they are willing to shift their entire business process online.

 

Crucial factors that drive accounting software online

As Enterprise, you also need to know some of the crucial factors that drive the performance of online accounting software.

Cloud accounting software works great in a good hosting environment and that makes speed a critical factor.

However speed, quality, efficiency, functionality, and scalability are some of the crucial factors that drive the performance and productivity of an accounting system online.

And the other critical factor is pricing which should be low on the overall cost of purchasing a single to multiple users.

You also have to find the relevant features on accounting software online if you are a multi location-based business.

Managing the Order to Cash and Procure to Pay life cycle is possible only with a few accounting software online in India.

Today there are a large number of online accounting software vendors and product options available in the market.

But do you know the right subscription plan and software for your business?

Selecting the right accounting software online is mandatory to avoid chaos at a later stage.

So before subscribing to any online accounting software make sure your subscription complies with all crucial factors.

Comment below the type of business you acquire and we can suggest which accounting software suits you best.

 

E-invoicing & Online Accounting Software for Indian Business

The GST e-invoicing system was implemented from 1st Oct. 2020 for businesses with an annual turnover of INR 500 Crores.

And it was later extended to INR 100 Crores from January 2021.

But from 1st April 2021 e-invoicing is applicable for all businesses with revenue of over INR 50 Crores.

Under e-invoicing, the taxpayers have to generate invoices on their accounting software and then report them online to Invoice Reference Portal (IRP).

The IRP validates the information and returns the digitally signed e-invoices with a unique IRN along with a QR code.

So if your software is not ready for e-invoicing,  it’s time to switch to accounting software online.

There is a one-time setup fee for integration of IRN Portal with your E-Invoicing/Accounting Software and a minimum amount will be charged per invoice to be paid on a monthly basis.

The cost of setup services may vary from one service provider to another.

In Conclusion:

Irrespective of how large an enterprise is, cloud-based accounting software is one of the best fit online applications for your business.

Either it is a micro, small, or medium business. You can only rely on data to make your business more efficient and comprehensive.

More handy is your data more is the ease of taking decisions and doing business

And that easier access comes through change which people are more likely afraid of.

However someday or the other people have to change because you have to move with the flow.

Small businesses must understand the real value of running a business online.

And leave all worries of data management, data security, and data recovery to their vendors.

For example, if you are a manufacturer of corrugate boxes, you know how you manufacture them and what ingredients and tools are required for better manufacturing.

The same way leading multinational firms like Amazon, Google, and Microsoft knows how to handle the data to keep it safe.

So what is core to your business you know it?

On the contrary, what is core to their business they know better?

Because they have the best infrastructure in the world to keep every data safe.

The fundamental change in software products and services that technology has come up with the internet revolution is just phenomenal.

So you have nothing to worry about data which is a common risk factor that every small business suspects.

A positive approach to cloud accounting can hugely impact and transform your business online.




Created & Posted by (Twinkle)
Account Executive at TAXAJ

TAXAJ is a consortium of CA, CS, Advocates & Professionals from specific fields to provide you a One-Stop Solution for all your Business, Financial, Taxation & Legal Matters under One Roof. Some of them are: Launch Your Start-Up Company/Business, Trademark & Brand Registration, Digital Marketing, E-Stamp Paper Online, Closure of Business, Legal Services, Payroll Services, etc. For any further queries related to this or anything else visits TAXAJ

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