Top 5 Accounting Software in India for 2024

Zoho Books is one of the most comprehensive accounting software in India. It enables both scalability and deep customization specifically Indian businesses. GST compliance is easy on Zoho as it handles data and prepares reports per Indian standards and smart automation. It has a simple interface and integrates easily with other Zoho apps. 

Key Features -

1. Seamless Integration - Zoho Books offers seamless integration with third-party banking, payment, and e-commerce services to record all transactions and generate reports.
2. Smart Automation - The software allows accountants to schedule and automate most tasks to save time and enhance productivity.
3. Inventory Management - Efficient inventory management is key to ensuring maximum returns on sales investments.

Pricing -

The basic plan of Zoho Books starts at Rs.749 per month. 

Wave is a free management and accounting software, suitable for small businesses and start-ups for basic accounting and invoicing. It is feature-rich software that allows a simplified view of all client information in one place for easy transaction tracking. Its paid pro plan offers advanced tools like digital capture of receipts, accepting online payments, late payment reminders, and cash flow management.

Key Features -

1. Personalized Support - Wave Advisors is a team of in-house accounting professionals who help with specialized expertise for growing businesses.
2. Expense Tracking - Wave has an amazing expense-tracking tool, that lets businesses cut down costs and keep precise records for tax filing.
3. Secured Payments - The online payment system is PCI DSS compliant, to safely transmit and store payment data and use flexible payment options like bank deposits, credit cards, or UPI.

Pricing -

The starter plan of Wave is free, while the pro plan costs 14,194 Rs. per year.

Sage is a highly scalable accounting software, perfect for growing businesses looking to expand their operations. It provides in-depth financial and tax reporting, inventory management, and cash flow forecasting for accurate decision-making. Sage’s UI allows businesses to add more users, modules, and transaction types as the business grows. Although it has a steeper price, it is a robust and reliable software with great customer support.

Key Features -

1. Comprehensive Tax Filing - Sage considers the evolving tax laws and offers tailored services for Indian firms, with easy GST invoicing, reporting, and filing.
2. Multi-currency Support - Sage is designed for growing businesses, and multi-currency support allows accountants to manage foreign transactions and expand globally.
3. Cash Flow Forecast - Firms can estimate their future cash flows to plan current investments and expenses, ensuring liquidity and proactive monitoring.

Pricing-  

Sage’s starting plan costs 1,459.47/month.

Vyapar is the ideal choice for small Indian businesses with simple and affordable solutions for GST invoicing, reporting, and filing. It is designed to cater to local law requirements for businesses that need a basic accounting platform. It has a simple interface and supports basic integrations. Start-ups and MSMEs benefit from comprehensive GST reports at an affordable cost.

Key Features -

1. Compatibility - Vyapar is compatible with both desktop and mobile and can be accessed on the go.
2. Inventory Management - Vyapar’s inventory management function is robust, providing precise sales and inventory reports, management tips, auto-payment reminders, etc.
3. Data Back-up - Automatic data backup keeps all data secure by storing the records in local or online Google Drive.

Pricing - 

The Basic Plan of Vyapar is priced at Rs. 6008 per year for mobile and desktop versions.

Tally is a highly customizable accounting software that offers versatile features for every unique business. This gives accountants the freedom to modify the reports, invoices, and workflow according to the requirements of their business. TallyPrime is also a great software for manufacturing businesses, with advanced product costing and inventory valuation tools. Its easy but robust interface makes it a preferred choice for beginners and seasoned accountants.

Key Features -

1. Taxation and Compliance - TallyPrime has easy-to-use tax filing features that auto-detect any errors and compile a report according to the latest tax laws.
2. Auto Bank Reconciliation - TallyPrime supports all major and local banks and can easily retrieve bank statements for every transaction.
3. Powerful Dashboard - It is easy to visualize and use TallyPrime’s extensive range of features with a simple and intuitive dashboard, along with customizable workflows.

Pricing -

A one-time license plan for TallyPrime costs 22,500.

Accounting and compliance are important functions of any firm. To ensure foolproof tax filing and financial management, choosing the right accounting software is important. Depending on the size and nature of a business, there are versatile software available in the market, both premium and affordable. Choose the one which offers extra advantages over core accounting features, and is value for money.