FREE ACCOUNTING SOFTWARES FOR STARTUPS IN INDIA

FREE ACCOUNTING SOFTWARES FOR STARTUPS IN INDIA

FREEACCOUNTING SOFTWARES FOR STARTUPS IN INDIA

Asthe entrepreneurial ecosystem in India has paced and there are thousands ofstart-ups in every state of the country, the requirements for tools thatcomplement their operations and offers them with the power to operate betterand more efficiently.

Withvarious hurdles of an entrepreneur who has a small business, one key problemthey overcome is to suffer at the hands of fixed overhead expenses. Here is asmall and extensive list of free accounting software that allows businessowners and financial professionals to manage a small business's books for freethrough their computer.

Inthe case of start-ups with promising staff but not enough resources, the corefocus comes to maintaining expenditure. Being an entrepreneur is a journey fullof hustling and growing over a while, hence many companies make the transitionfrom free accounting software to paid accounting software as they grow. Today,the market is flooded with tons of paid and free accounting software availableon the internet and an obnoxious amount of programs do not even deliver to thefeatures they advertise.

Choosingan Accounting Software: Acknowledge Priorities 

Beforefinalising the accounting software, one must be aware of their requirementsi.e. their accounting needs. If they are less, one can go with free accountingsoftware or free version of premium software. As the business grows, one canavail the paid versions with better options needed in operations.

Asmentioned earlier, there are plenty of options to choose from, but of the namesare renowned and used by various start-ups and strikes the mind as soon as onethinks about the accounting software for start-ups in 2020 like FreshBooks,Zoho Invoice and Xero, QuickBooks Online. Rich in features with pricing scaledto budget tiers, all these software are great options which one can choose fromdepending on the priorities. A quick roundup of this software and value theycan add to your operations include:

  • Tally.ERP9

Oneof the renowned brands Tally has launched the latest version, Tally.ERP 9,where the market leader of accounting software for medium and small sizebusinesses serves various functions. The software can take care of accounting,sales, purchase, inventory and payroll for an organization. A Tally SolutionsPvt. Ltd. product is user-friendly as it is specifically designed foraccounting purposes along with keeping the track GST related statutory changes.

Minimisingany chance of rejections, the software detects any errors in the GST filingautomatically and makes the necessary corrections needed to be done. Efficiencyis a key part of the services offered, is ensured as with the in-builtcorrection capabilities that make the GST filing error-free and quick. Not onlythat, each part of the process inclusive of right from generating invoices tofiling GST returns is made easier with this top accounting software in 2020.

KEYFEATURES INCLUDE:

  • Journal & Ledger
  • Debit & credit notes
  • Trial balance
  • Balance sheet
  • P&L
  • Cash flow, and more
  • PROFITBOOKS:

Acloud accounting software specifically designed for small businesses,Profitbooks let one create invoices, track expenses and manage inventory,helping one save time and manage finances efficiently.

Theeasy process that one can have with this software can help them have a lot oftime to focus on the key solutions they offer. The users, after creatingpurchase orders, can easily email them to their vendors and be GST ready as theProfitbooks can help with the allocation of inventory to the right warehouse sothat the purchase record can be maintained accurately. The top accountingsoftware in 2020, Profitbook's inventory management module allows tracking ofevery item while it's transferred from the warehouse to the logistics packaging.

KEYFEATURES INCLUDE:

  • Tracking receivables
  • Managing online payments
  • Get detailed tax reports
  • Track inventory lifecycle
  • Creating unlimited customers& vendors
  • ZOHOBOOKS

Theuser-friendly software, Zoho books have been designed for SMEs to send professionalinvoices to clients along with ensuring that one is receiving online paymentefficiently. Today, businesses are widely using technology to ensure that theyare efficiently able to work knowing every detail of their expenses and billtheir clients easily.

ZohoBooks has been helping its users track and categorize expenses in real-time tohave better control over a company's cash outflow. They can connect thesoftware Zoho Books to their bank account and receive updates regarding theircash flow. With every single transaction, Zoho Books is always at the user'sdisposal.

KEYFEATURES INCLUDE:

  • Automatic bank feeds
  • Payment notifications
  • Online collaboration withcustomers
  • Time tracking
  • API
  • Inventory management
  • Invoice tracking
  • Reconciliation
  • XERO ACCOUNTING

ANew Zealand based a public technology company that has been building its globalpresence around the world is one of the top accounting software in 2020; Xerohas developed the Xero Accounting.

Thesoftware offers three different plans based on the journey of a business. Inthe initial stage of the business with limited operations, the brand offersearly to plan, as the business continues, the growing plan comes into action asit is for businesses who have made their mark in the industry and finally, theestablished plan to help the brands which have covered a long term journey andare on the top of their industry.

KEYFEATURES INCLUDE:

  • Payment integration
  • Asset management
  • Contacts Management
  • Dashboard
  • Inventory management
  • Invoicing
  • Bank connections &reconciliation
  • Business performance dashboard
  • Multi-currency accounting
  • Bill payment
  • Pay runs
  • Quotes
  • Reporting
  • Income tax solution
  • Projects
  • Project management
  • Purchase orders

Conclusion:

When a startup initiates, the most essential part to ensure efficiency and focus on the key services offered along with ensuring that the financial condition of the brand remains intact as it has a long journey ahead that it has to cover, these top accounting software in 2020 for start-ups are successfully offering various brands with the guidance and support they required to ensure that each of their transaction is well managed along with GST. Now it depends on the business owners to choose one of the above based on their requirements as well as after taking a demo.

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