25 Best Accounting Software in India 2023

The global accounting software market share is expected to be worth around $4.25 billion by the end of 2023.

Increasing customer demands, rising complexities in accounting, and new taxes have led several companies to invest in accounting software and streamline their finances. These solutions help you stay on top of your payroll needs and act as a savior when it comes to auditing.

But, how do you know which is the perfect solution? Well, you no longer need to worry, as we have compiled a list of the best accounting software in India. But, before we move on to the list, let us know more about the importance of using accounting software for business.

Importance of Using Accounting Software

Accounting software lets you automate and speed up accounting tasks, minimize the risk of errors, manage multiple accounts and even save money.

Did you know that 60% of small-business owners struggle with finance management; about 64% use a type of accounting technology.

Best Accounting Software in India For Your Business

The best accounting software can help you save up to 16$ per invoice. So, to help you make the most of these solutions, here is a list of the best accounting software in India. Ready?

Let's dive in!

1.QuickBooks Online

One of the best accounting software in the market, Quickbooks lets you handle bookkeeping, sales tax, expense tracking, invoicing, and other accounting tasks. Besides, it lets you automate the process of entering transactions, track bills and expenses, set automatic payments and create invoices.

USP

QuickBooks will help you define estimates and quotes for your clients. Once it is accepted, you will be able to convert it into an invoice and track progress.

Available For: Web, Windows, Google Chrome, Mac, Linux, iOS, Android,

2. Freshbooks

Freshbooks is cloud-based accounting software that lets you stay on top of invoicing and bookkeeping and even lets you handle payroll. Want to create customized invoices? You can do it easily with Freshbooks and even use it to send out personalized thank you notes.

Freshbooks eliminates the need for paper-based invoicing, lets you process credit card information, receive electronic payments, and track profit/ loss in an organized manner.

USP

You can use it to set due dates of payments, track late fees and send automatic reminders to clients. Ease of access and multiple functionalities make it one of the best accounting software in India.

Available For: Web, Mac, iOS, Android

3. Wave Accounting

Are you working on a tight budget? Well, Wave Accounting can be your pick. Not only is it a cost-effective invoicing and accounting app, but it also lets you streamline card processing and handle payroll.

You can use it to track investments, handle basic financial reporting, keep a check on your personal finances, and scan receipts. All-in-all it is one of the best accounting software for small businesses.

USP

It lets you handle all client payments automatically, connect bank accounts with credit cards and accept/process payments from them.

Available for: Web, Android, Google Chrome, Windows, iOS,

4. Sage Accounting

Aimed at small businesses, Sage Accounting lets you track payments, set automatic reminders for payments, generate reports, and track statistics. Moreover, you can use it to streamline compliance and accounting management, electronic payments, and data imports and exports.

USP

Sage offers a specific accounting system, Sage 50, that lets you cater to different world regions' payroll and accounting needs.

Available for: Web, Windows, Mac, Android, iOS

5. Gusto Payroll

One of the best accounting and payroll software, Gusto Payroll lets you automate tax management and manage all payroll deductions easily. It even lets you calculate the wages of contract workers and adjust minimum wages as required.

USP

Considering that compliance is essential in accounting, Gusto lets you automatically report all your hires to the government.

Available for: Web

6. Tally ERP 9

If you need a flexible accounting tool with inventory management features, Tally ERP 9 can be your pick. You can use it to handle accounting and payroll management, generate reports, handle all GST invoicing and transactions, and scan receipts.

USP

Tally ERP 9 offers top-notch sales and purchase management.

Available for: Web, Windows, Mac,

7. KashFlow

One of the best cloud-based accounting software, KashFlow offers special HR features that let you gain insights into your finances and manage employee data. Besides, it lets you convert approved quotes into invoices, share accounting data with clients directly, and link multiple bank accounts to the software.

USP

KashFlow's method of handling VAT (value-added tax) is commendable. You will have your VAT automatically updated, and you can then submit it to the concerned authorities.

Available for: Web

8. Expensify

Designed to address the needs of all businesses, Expensify lets you easily submit expenses for both reimbursements and approvals. You can also use it to detect duplicate receipts in your system, import card transactions, manage general ledger codes, and apply tax rules based on the relevant expense policies.

USP

Expensify syncs with most major accounting apps so you can effectively enhance the app's functionality.

Available for: Web, iOS, Android,

9. ZipBooks

ZipBooks is a free invoicing and accounting software for businesses. It offers a wide scope of features that lets you go much beyond accounting and gain insights into a business's operations. For example, ZipBooks lets you track your expenses, secure partial payments, manage accounting tasks for each project, and process invoices.

USP

ZipBooks leverages business intelligence to provide data-driven insights, highlight your profitable customers, and show you score against your competitors.

Available for: Web, Mac, iOS, Google Chrome

10. TurboCASH

Designed to cater to the small business segment, TurboCash lets you share data with relevant people in the cloud. Besides, it lets you manage accounting tasks on a large scale.

You can use it to open and manage 12000+ accounts and 24000 related sub-accounts. Moreover, it lets you manage

40000+ creditors and debtors. Wait, there is more to it!

You can use it to create customized invoices, handle orders, track credit notes, and set estimates and quotes.

USP

As a special feature, TurboCASH lets you reverse all your transactions. As a result, you get a chance to check and edit transaction entries before updating them in your ledger.

Available for: Web, Windows, Mac

11. KMyMoney

If you are looking for a personal finance manager, your search ends right here! KMyMoney is aimed at small businesses and offers a large number of easy-to-use financial tools and modules. In addition, it is one of the best accounting software in India and lets you gain insights into all accounts and transactions.

Be it tracking ledger performance, managing a budget revamp, or managing your internal financial structure, KMyMoney does it all!

USP

The highlight of this particular accounting solution is its simplicity and ease of access. Even if you are not that well-versed in using accounting solutions, you will get accustomed to using the app in just a few days.

Available for: Mac, Windows, Linux

12. AccountEdge Pro

Aimed at Mac and Windows users, AccountEdge lets you manage your bank accounts and easily track your annual budgets. Besides, it lets you set up regular recurring, daily, monthly and weekly transactions. In addition, AccountEdge Pro supports automation and backs up all financial data in the cloud, letting you manage different profit centers and departments.

USP

One of the best features of AccountEdge Pro is its advanced search options. You can easily find accounts by their name, contact, and other details across all your lists.

Available for: Mac, Windows, iOS

13. GnuCash

The best accounting software for report generation, GnuCash is aimed at serving individual users and small businesses.

Right from presenting your current financial status to generating 30 different types of reports, including income expenses, balance sheet reports, GnuCash does it all, and much more!

Besides, it lets you view multiple accounts simultaneously and categorize your cash flow with ease.

USP

GnuCash lets you split all transactions and record all fees and taxes when handling documentation.

Available for: Web, Windows, Mac, Linux, Android

14. NolaPro

Just like QuickBooks and GnuCash, NolaPro lets you customize your accounting system as per your business needs.

You can use it to check payroll and direct deports, generate W-2 and 941 tax forms, balance sheets, and trial balances, and automate credit card processing.

USP

NolaPro has a fantastic support team, and you can ask them to add features to your system. Moreover, you can request them for the software's editable source code.

Available for:

Available for: Web, Windows, Linux, Mac

15. Xero

Handling business transactions and sending out recurring invoices is a breeze with Xero. In addition, you can organize and categorize all your credit card transactions, schedule payments to manage cash flow and subsequent taxes.

USP

This app lets you collaborate with an unlimited number of clients and enjoy strong data encryption and multiple authentications.

Available for: Web, Mac, iOS, Android

16. FreeAgent

FreeAgent is not your ordinary accounting software. Instead, it has been designed to ease collaboration between small businesses and accountants.

You can use it to send out and track estimates and corresponding invoices, store receipts, connect to bank accounts, and import transactions automatically. Besides, it lets you stay on top of your tax timelines.

USP

Automation is the main highlight of this solution. For example, each time you enter bank statements, expenses, and invoices, FreeAgent builds corresponding accounts in real-time.

Available for: Web, Mac, iOS, Android

17. Wagepoint

Wagepoint is an online payroll and accounting software aimed to help you and your small or midsize business pay employees and keep up with compliance needs. You can also use it to manage direct deposits, handle your pay stubs and calculate company deductions in just a few clicks.

USP

It lets you manage all tax-related needs and generate reports to avoid short-and long-term confusion.

Available for: Web, Windows, Mac

18. Receipt Bank (Now Dext)

A member of the FreeAgent family, Receipt Bank offers a select number of features that make it worth investing. For example, you can use it to set submission reminders, capture processes, request paperwork directly to your client's mobile device, and even communicate with clients directly from the app's built-in chat system.

USP

You can save up to 3 hours weekly on paperwork and streamline your receipt and invoice management. Besides, you will be able to integrate Receipt Bank with Sage Accounting and combine their use cases.

Available for: Web, Windows, Mac, iOS, Android

19. SurePayroll

SurePayroll is an online payroll system and accounting software designed to meet the needs of small businesses in the US and India. From calculating payroll to tax deductions, SurePayroll lets you streamline all processes in just a few clicks.

Besides, it lets you manage employee benefits, handles independent contractors, and handles procedures, such as employee bonuses, corrections on payroll, and reimbursements.

USP

It offers in-depth customization capabilities.

Available for: Web, iOS, Android

20. Clockify

What if you could get a free time tracker with your accounting software? Sounds interesting. Right? Clockify lets you instruct clients and employees, define their hourly rates, and track time as they work on activities. In the end, all your earnings are automatically calculated and you can easily view them in reports.

USP

Clockify uses a robust filtering system to let you generate comprehensive reports. You can even lock time entries after a certain period to ensure consistency in your documentation. Moreover, you can also choose to edit your billable and non-billable time entries in bulk.

Available for: Web, iOS, Android, Google extension, Firefox extension, Windows, Mac, Linux,

Wrapping Up

This was all about the best accounting software in India and how it can help you streamline organizational finances. From managing payroll to automating invoices and generating reports to managing taxes, these tools do it all!

Tried out an accounting solution as yet? Share your experience in the comment below!