The Best Accounting Software in India for 2024 – Top 10 Compared

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The best accounting software in India should offer features such as GST and TDS compliance, seamless integration with Indian banks, and accurate financial reporting capabilities that match India’s requirements. These capabilities allow the software to provide precise financial reporting and adhere to India’s strict regulatory standards.

Considering that every business’s needs differ, we’ve reviewed a series of accounting software to help you choose one that works perfectly in India and matches your company’s size and needs.

Best Accounting Software India – Top 10

Zoho Books - Cost-effective accounting for SMBs

14-day free trial
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Wave - Free easy-to-use accounting platform

Free plan available
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Sage - Solves complex problems for enterprises

First 2 months free
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Xero - Feature rich accounting for established businesses

50% off for 6 months
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Marg ERP - Excellent GST Compliance Software

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TallyPrime - Insightful accounting with superb customisation

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Vyapar - Automated business workflows

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FreshBooks - Best accounting software for small businesses

60% off for first 4 months
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The Best Accounting Software in India

  1. Zoho Books Best for GST Compliance
  2. Wave – Best for Free Accounting Processes
  3. Sage Best for Scalability
  4. Xero Best for Cloud-Based Accounting & Advanced Integration
  5. Marg ERP Best for Smart Inventory Management
  6. TallyPrime Best for Customisation
  7. Vyapar Best for Small Business
  8. Freshbooks Best for Freelancers

The Best Business Accounting Software for India Reviewed

We based our review on features such as ensuring compliance with India’s Goods and Services Tax (GST), scalability, ease of use, and integration with other business tools.

To learn more about our in-depth testing process, please visit our “How We Test” section.

1. Zoho Books – Best for GST Compliance in India

Zoho Books Logo

Best For GST Compliance in India
Free Trial Yes, 14 days free trial and free plan
Price From Starting from ₹749/month
Top 3 Features GST compliance, Custom invoicing, Smart Automation
Why We Picked It

Zoho Books is our top pick for accounting software for GST compliance in India because it facilitates handling financial transactions in accordance with Indian standards and excels at smart automation, customized invoicing, and seamless third-party integration.

The platform’s user-friendly interface simplifies the intricacies of accounting software, making it easy for anyone to understand its capabilities. While Sage provides scalability and TallyPrime focuses on deep customisation, Zoho Books offers a more comprehensive solution that meets the key demands of Indian businesses. It combines core accounting functions with sophisticated automation and reliable GST compliance, resulting in a balanced approach to financial management.

Features
  • Online GST Simplification: You can easily file error-free GST returns, generate your returns report, make GST-compliant invoices, and auto-populate GST for all transactions.
  • Seamless Integration: Zoho Books integrates with a variety of applications and services, including PayPal, Stripe, and Shopify. This enables direct bank feeds, online payments, and e-commerce operations, all of which are critical for modern businesses.
  • Smart Automation: Focus on growing your business while automating your business operations. This automation allows you to reduce tedious tasks, be paid on time, and enhance productivity.
  • Detailed Inventory Management: Optimize your return on sales investment by tracking your stock levels using the FIFO (First in, First Out) technique.
  • Vendor Portal: This interface allows your suppliers to self-manage all their transactions, eliminating the need for lengthy email threads and phone calls.
Pricing Plans

Zoho Books priced its plans based on the number of users and other features. This enables businesses to select a package that meets their budget and needs.

Plan Free Standard Professional Premium Elite Ultimate
1 month ₹0/month ₹899/month ₹1,799/month ₹3,599/month ₹5,999/month ₹9,599/month
1 year ₹0/month ₹749/month ₹1,499/month ₹2,999/month ₹4,999/month ₹7,999/month
  • Free – Appropriate for businesses that generate less than 25 lakhs per year. It includes mileage monitoring, bank reconciliation, invoice generation, a self-service customer interface, periodic invoice setup, tax administration, and credit management.
  • Standard: For up to three users, can handle up to 5,000 invoices, accepts payment methods, and includes ten custom financial report generators.
  • Professional: Five users and includes all of the basic plan’s features, such as project expense and invoice tracking, retainer invoices, and timesheet approval.
  • Premium: Max 10 users and includes all of the Professional plan’s features, as well as a vendor portal, budgeting, 50 custom reports, and dedicated customer support.
  • Elite: Additional features include advanced inventory control, limitless custom reports, and multi-currency support.
  • Ultimate: Supports up to 15 users and includes all of the Elite plan’s features, as well as essential financial statistic analysis and tracking, customized reports and dashboards, and collaboration features.

Because the free plan is best suited for small businesses with less than 25 lakhs of income per year, large enterprises that wish to test the service before making a financial commitment can use the 14-day free trial.

Zoho Books also provides add-ons for an additional charge of ₹208.76 per month, which includes more users. You can also purchase add-ons such as Advanced auto-scans, which cost ₹668.03 per month for 50 scans on all plans.

Who's It Best For?

Zoho Books is best suited for small to medium-sized businesses in India seeking robust GST compliance and seamless integration with third-party applications.

Pros pros

  • Comprehensive GST compliance
  • Automation of key accounting tasks
  • Extensive integration with other Zoho apps and third-party tools
  • Scalability for startups and small-sized businesses

Cons cons

  • The broad feature set may initially overwhelm new users
  • Increased cost for higher-tier plans
  • Lack of specialized features for niche industries
  • Adding more users could incur more spending for a growing business
  • India customer support number is not available

2. Wave – Best for Free Accounting Processes in India

Wave Logo

Best For Free Accounting Processes in India
Free Trial There is no trial but a free plan
Price From Starting from ₹1335.91/month
Top 3 Features Unlimited Invoice Creation, Accounting, Simple Mobile App
Why We Picked It

Wave stands out for providing the best free accounting software, making it excellent for startups and small enterprises in India who want to manage their finances without paying a dime. It offers a comprehensive set of accounting, invoicing, and receipt scanning tools with businesses in mind.

Not only that but Wave’s simplicity and cost-effectiveness make it a popular choice for emerging businesses looking to keep overhead low. Some of Wave’s competitors prioritize higher scalability for growing organizations. Sage and TallyPrime are examples of such accounting software, and they offer deeper and more advanced capabilities and customisation choices that Wave does not have.

Features
  • Invoicing: Its invoicing interface allows you to see all of your customers’ information in one place and track payments and communications.
  • Secured Payment: Wave uses bank-level security for all online payments. Its system is also PCI DSS compliant, which ensures a safe environment for storing, processing, and transmitting credit card data.
  • Digital Payment Solution: Customers benefit from the payment flexibility that comes with Wave’s digital payments even as you get paid when you use either bank deposits, credit cards, or Apple Pay.
  • Personalized Support: Wave Advisors, in-house accounting and payroll coaches, and bookkeepers are available to provide specialized assistance whenever necessary. Although this is a costly add-on, it could be a useful choice for your company when you need expert insight.
  • Expense Tracking: Wave, like any accounting software, allows you to track your business spending, which is critical for businesses in India and other locations that need to keep precise records for tax purposes and financial management.
Pricing Plans

Wave only offers one paid plan and a free plan.

Plan Starter Pro
1 month ₹0/month ₹1335.91/month
1 year ₹0/year ₹14,194.06/year

Starter – This is a basic accounting and invoicing solution for new businesses in India. This plan includes features like unlimited invoicing, bookkeeping, estimates, bills, online payments, and cash flow management.

Pro – This plan is suitable for small businesses that need advanced accounting solutions. It includes all the Starter plan features plus the option to accept online payments at a discounted rate, auto-import bank transactions, digital capturing of unlimited receipts and track expenses, and automation of late payment reminders.

Wave’s free package is extremely feature-rich for any small business that needs only basic accounting services.

You can also include add-ons such as Payroll at ₹1,669.45/month, bookkeeper from ₹12,437.41, and unlimited capturing of digital receipts at ₹918.21/month OR ₹8,013.36/year.

Who's It Best For?

Wave covers the basic demands of small businesses right away with its free plan. That makes it the the go-to choice for entrepreneurs who need a simple accounting solution with scalability at a reasonable price.

Pros pros

  • Offers a free forever plan
  • Simple to use platform
  • Includes essential accounting tools for small businesses
  • Supports Indian rupees

Cons cons

  • Limited scalability compared to solutions like Sage
  • Fewer customisation options than platforms like TallyPrime
  • Basic inventory management capabilities compared to specialised software like Marg ERP
  • It may not support all financial institutions
  • Access to customer support requires a paid add-on or paid plan

3. Sage – Best for Scalability in India

Sage Logo

Best For Scalability in India
Free Trial Yes, 3 months free trial
Price From Starting from ₹1,459.47/month
Top 3 Features Scalability, Cash Flow Forecast, Tax Laws Tracking and Compliance
Why We Picked It

We chose Sage as the best accounting software for Indian businesses due to its scalability, making it an excellent choice for businesses looking forward to expanding.

It provides a comprehensive range of features, including in-depth financial reporting, multi-currency support, and advanced inventory management, all of which are critical for managing the complexities of increasing operations.

Unlike Vyapar, which is designed for small Indian businesses with general accounting software needs, Sage caters to larger enterprises that need a more extensive set of features. This distinction is critical if you intend to operate and potentially expand your operations globally, as Sage’s global support and multi-currency capabilities are useful.

Features
  • Integration with Third-party Applications: Sage’s integration with a wide range of third-party apps and services allows organizations to modify the accounting software system to their individual needs, hence improving overall functionality.
  • Tax Laws Tracking and Compliance: Tailored services for Indian organizations, such as tax compliance tracking and expert coaching. Its tax services include GST compliance, automatic GST calculations, invoicing, and reporting.
  • Customisation and Scalability: Scalability has been at the heart of Sage’s pricing strategy to help growing businesses. It allows businesses of all sizes to easily add new users, modules, or features as their operations evolve.
  • Advanced Reporting: Create comprehensive financial reports for reviewing and investigating performance, monitoring cash flow, and making educated decisions.
  • Cash Flow Forecast: The cash flow forecast allows you to prepare ahead of time to estimate how much money your organization will have or need at any given time. This is a really useful tool for helping you stay proactive in your business finance monitoring.
Pricing Plans

Sage provides a pricing package that scales with your company’s needs in terms of users, features, and functionality.

Plan Accounting Start Accounting Standard Accounting Plus
1 month ₹1,459.47/month ₹2,919.11/month ₹3,752.54/month

Accounting Start – This is a single user supporting plan, ideal for sole traders. The plan features unlimited sales invoice creation, simple bank reconciliation, VAT submission, and Be Making Tax Digital Ready for VAT.

Accounting Standard – Ideal for small businesses working with suppliers, CIS, or with accrual accounting. It offers everything Start offers, plus more advanced features like advanced reporting, CIS management, cash flow forecast, and receipt capturing automation.

Accounting Plus- Accounting Plus offers all of the Standard features plus support for multiple currencies, automatic exchange rate updates, and inventory management.

Each Sage price package includes professional support, membership classes, community forums, business guidance, instruction, and Sage certification.

The software has no long-term commitment fees, allowing you to upgrade or cancel at any time. You can add employees using any of Sage’s Payroll plans. The more people you add to your Payroll plan, the lower your monthly cost per employee will be.

Who's It Best For?

With Sage’s high level of flexibility and scalability, we recommend it for large enterprises in India seeking comprehensive accounting software that can adapt to their growth trajectory.

Pros pros

  • Highly scalable
  • Advanced accounting features
  • Strong global support network
  • Tax laws tracking and compliance that matches Indian regulations

Cons cons

  • Expensive than some competitors like Wave
  • The complexity of its features requires a steeper learning curve
  • Less robust in cloud-based accounting
  • Training may be needed for users who are not familiar with accounting software
  • Payroll is only available as an add-on

4. Xero – Best for Cloud-Based Accounting & Advanced Integration in India

Xero logo

Best For Cloud-Based Accounting & Advanced Integration in India
Free Trial Yes, 30 days free trial
Price From Starting from ₹1,251.95/month
Top 3 Features Cloud-Based Processes, Expense Tracking, Cash Flow Tracking
Why We Picked It

Xero is the market leader in cloud-based accounting systems, providing unparalleled flexibility and accessibility for financial management. We like how its cloud-native architecture supports real-time access to business financial data, fast decision-making, and financial management.

Another aspect of Xero that piques our interest is its wide ecosystem of over 1000 third-party integrations, which expands its usability and flexibility to firms in various industries.

When compared to competitors, Sage outperforms Xero in terms of detailed inventory management and customisation, whereas Xero wins due to its cloud-based flexibility, particularly ease of access.

Features
  • Cloud-Based Processes: A robust cloud-based service that allows businesses to easily access financial data at any time, from any location, and on any device. So, if you have team members in India, the United Kingdom, the United States, or anywhere else in the world, data accessibility is no longer an issue.
  • Data Safety and Privacy: Xero is committed to data security and offers numerous layers of protection for your personal and financial information.
  • Reporting: You can work with your advisor in real time to create a detailed report presentation without the need for any other tools. You can gather data such as profit and loss statements, balance sheets, cash flow statements, and customisable reports to gain insight into business performance.
  • Multiple Integration Support: Accomplish more by integrating a variety of apps and extensions designed to solve your business challenges. These include a variety of third-party tools such as payment processors, CRM systems, e-commerce platforms, and others, allowing you to personalize your accounting setup and streamline workflows.
  • Expense Tracking: Easily keep track of business spending by uploading receipts, categorizing them, and reconciling them with bank transactions. This helps you in managing financial operations, regulating staff spending, and reimbursing bills quickly while you stay within budget.
Pricing Plans

Xero accounting provides pricing packages tailored to the demands of various businesses. All of its price options include accounting essentials and allow for future expansion.

Plan Early Growing Establish
1 month ₹1,251.95/month ₹2,503.91/month ₹3,505.47/month

Early – The plan features basic invoicing (send quotes and 20 invoices), five bills, expense tracking, short-term cash flow, and bank reconciliation.

Growing – This plan is ideal for growing small businesses. It offers everything in the Early plan with bulk bank transactions reconciliation and unlimited invoices and bills.

Establish – This plan caters to established businesses of all sizes. It features everything in the Growing plan plus multi-currency support.

Xero allows you to add as many businesses as you like, and you can choose a price plan for each one or start a free trial. Additionally, if you register more than one business edition organization using the same email address, you can take advantage of Xero’s discount for numerous businesses.

Who's It Best For?

Xero is a valuable asset to small and medium-sized enterprises in India that need remote access to manage their financial operations and collaborate with advisors.

Pros pros

  • Real-time access to financial data from any location
  • Support for multiple third-party apps
  • User-friendly interface
  • Mobile app for accessibility

Cons cons

  • High subscription costs
  • Dependence on Internet connectivity
  • Some businesses may find the extensive features unnecessary
  • Unstable pricing
  • Lack of phone support

5. Marg ERP – Best for Smart Inventory Management

Marg ERP Logo

Best For Smart Inventory Management
Free Trial No
Price From Starting from ₹8991
Top 3 Features Advanced Inventory Management, Multi-Company Support, Barcode Integration
Why We Picked It

Marg ERP made our list for two major reasons. To begin, Marg ERP provides excellent inventory management, providing companies with a full range of features for stock control and optimisation.

Without sacrificing other key business functionalities, Marg ERP also offers GST compliance, invoicing, and financial reporting, integrating seamlessly with business operations. Its capability to provide detailed analytics and reports on inventory performance distinguishes Marg ERP from competitors, enabling businesses to make informed decisions about their stock.

While competitors like Zoho Books, Sage, and TallyPrime offer inventory management, Marg ERP stands out for its emphasis on stock management. With Marg ERP’s dedication to inventory specifics, businesses may have accurate insights to maintain optimal stock levels and avoid overstocking or stockouts.

Features
  • Advanced Inventory Management: Marg ERP, like any online accounting software, allows businesses to maintain stock levels and manage numerous warehouses while creating inventory flow data.
  • High Customization: Cutting-edge and adaptable software that can be customized to meet your specific business needs. You may modify your reports, processes, user permissions, and any other features.
  • User-Friendly Interface: Despite its advanced functionality, Marg ERP has an intuitive and attractive interface. This allows beginners in accounting to swiftly navigate the software.
  • Barcode Integration: Search for items during the sales process and add them during inventory creation. Another way the barcode helps you speed up procedures is during data entry.
Pricing Plans

Marg ERP provides three price plans based on user requirements and implementation.

Plan Basic Edition Silver Edition Gold Edition
Full License ₹ 8991 ₹12600 ₹25200

Basic Edition – This is a limited edition that supports 1 user’s full rights. You can add a maximum of an extra 2 users at the rate of ₹ 3000 per extra user.

Silver Edition – Supports 1 user’s full rights with 1 user for view only. You can add an extra user at ₹3000/ extra user.

Gold Edition – Supports unlimited user access to the software.

Marg ERP pricing differs from typical accounting software, which offers monthly or annual plans. Marg’s plan is for a complete license, which is based on the number of users.

Who's It Best For?

For Indian businesses that prioritize inventory accuracy and efficiency, Marg ERP offers a tailored solution that combines essential accounting features with top-tier inventory management.

Pros pros

  • Advanced inventory management features
  • GST compliance
  • Detailed analytics
  • Very fast in functionalities

Cons cons

  • Steep learning curve for new users
  • Primarily focused on the Indian market and lacks global support
  • Scalability beyond inventory management is limited
  • Customer support could be better
  • Its bulky features can be confusing

6. TallyPrime – Best for Customisation in India

TallyPrime Logo

Best For Customisation in India
Free Trial Yes, 30 days
Price From Starting from ₹22,500/user
Top 3 Features Taxation and Compliance, Enhanced Security Management, Auto Bank Reconciliation
Why We Picked It

We found TallyPrime to be an accounting software with strong customisation capabilities, enabling businesses to adapt the software to their specific needs. This level of customisation allows for detailed modifications to reports, invoices, and workflows, making it suitable for businesses with unique operational requirements or those in niche markets where standard accounting solutions may not suffice.

For example, a manufacturing business can adjust TallyPrime to accommodate complex inventory valuation or product costing methods that are specific to its operations. TallyPrime also simplifies GST compliance by creating tax-compliant invoices and keeping businesses up to date on the most recent tax changes.

In comparison to other accounting platforms like Xero, TallyPrime stands out for its customisation and in-depth reporting tools. Likewise, Xero offers a wide range of cloud-based features and integrations, but it does not provide the same depth of customisation as TallyPrime.

Features
  • Simple Accounting: Generate professional-looking GST-compliant invoices in seconds. Not only that, but the accounting interface is flexible, allowing you to add additional information to your invoice, such as a logo, to personalize it as you prefer.
  • Taxation and Compliance: TallyPrime simplifies GST filing for you. It features built-in functionality to detect errors and make quick adjustments to guarantee that your GST returns are filed correctly. What we like about TallyPrime’s taxation is that it separates all unreconciled transactions for easy identification.
  • Enhanced Security Management: Set different security levels, specify user-level privileges, and grant employees particular access depending on their jobs and responsibilities.
  • Auto Bank Reconciliation: Easily handle a large number of bank transactions. You get reconciliation for up to 100 banks by automatically pulling all e-statements retrieved from the bank portal.
  • Intuitive and Powerful Dashboard: Access all of the critical reports required to run your business. It uses data visualization, an easy interface, and customisation capabilities to offer reports that match your business needs in your preferred format.
Pricing Plans

TallyPrime provides businesses with both monthly and one-time fee licenses, allowing them to select the most suited choice for their needs.

One-time License Plan

Plan TallyPrime Silver TallyPrime Gold
Full License ₹22,500 ₹22,500

Monthly Plan

Plan TallyPrime Silver Rental TallyPrime Gold Rental
1 Month ₹750/month ₹2,250/month

TallyPrime Silver – This plan supports single users, and it’s designed for standalone PCs.

TallyPrime Silver Rental – This is the monthly subscription plan version of TallyPrime Silver, allowing users to pay monthly. It also supports single-user and standalone PCs. You can choose either 1, 3, or 12-month payment options.

TallyPrime Gold – This plan is suitable for big businesses with many team members. The plan supports unlimited multi-user editions and can be used on multiple PCs in a LAN environment.

TallyPrime Gold Rental – This is the monthly subscription plan version of TallyPrime Gold; this plan is suitable for big businesses with many team members. The plan supports unlimited multi-user editions and can be used on multiple PCs in a LAN environment. You can choose either 1, 3, or 12-month payment options.

Similarly to Marg ERP, TallyPrime offers full licensing pricing with its monthly plan. The only price difference between the two is that TallyPrime provides a 30-day free trial, allowing you to test the software and see how it fits your organization. This free trial provides full access to all of the product’s features.

TallyPrime also offers add-ons. You can visit TallyShop and select any add-on based on your business specifications.

Who's It Best For?

TallyPrime’s adaptability across various business functions positions it as a better choice for businesses seeking a customisable accounting solution.

Pros pros

  • Extensive customisation options
  • Compliance features for the Indian market
  • In-depth reporting capabilities
  • Multiple language support

Cons cons

  • Higher cost for advanced customisation
  • Primarily tailored for the Indian market, limiting the international reach
  • Software bugs delay data output sometimes
  • Lack of payroll system for employee salary management

7. Vyapar – Best for Small Businesses in India

Vyapar Logo

Best For Small Businesses in India
Free Trial Yes, 7 days
Price From Starting from ₹3,129.09/3 years for a mobile alone package
Top 3 Features Multi-device Compatibility, Payment Reminder, Automatic Data Backup
Why We Picked It

Vyapar is specifically developed to fulfill the needs of small Indian businesses, providing a simple and affordable solution for GST billing, invoicing, and accounting. Its focus on the Indian market guarantees that the software is entirely compatible with local tax requirements, making it an excellent alternative for firms seeking an easy-to-use platform that streamlines GST filings and financial reporting.

We appreciate Vyapar’s low cost and simple design, which makes it accessible to startups and small businesses who need basic accounting functionality.

Compared to more scalable alternatives such as Sage, Vyapar promotes simplicity and cost-effectiveness, making it the preferred choice for small businesses. Vyapar’s inventory management isn’t as extensive as Marg ERP’s, but it still provides a well-balanced set of features that cater to small businesses’ basic accounting needs, with an emphasis on usability and affordability.

Features
  • Multi-device Compatibility: Vyapar’s software can be used on both mobile and desktop devices simultaneously. This promotes accessibility while increasing productivity.
  • Seamless Inventory Management: Loaded with excellent features that can help improve business performance. As you track your company’s sales, you will be able to see how well you have managed your inventory and how to adjust.
  • Payment Reminder: Instantly notify your clients of their overdue payments. It also allows you to ensure timely payments, manage cash flow, and track any outstanding payments in the business dashboard.
  • Fast GST Filing: Relieves you of the need to manually file GST returns. Using Vyapar billing software, you can generate GST reports and make the GST filing procedure easier.
  • Automatic Data Backup: Vyapar is completely safe and enables you to keep your data accurately. You may use the free app to secure your data by creating local, external, or online Google Drive backups.
Pricing Plans

Vyapar provides flexible pricing plans, allowing businesses to select the package that best meets their needs. Its pricing depends on the number of years and platforms.

Plan Silver Gold
1 year – ₹6,008.18/year for Desktop and Mobile Device Usage
– ₹4,506.26/year for Desktop alone
– ₹1,877.12/year for Mobile alone
– ₹9,013.36/year for Desktop and Mobile Device Usage
– ₹6,759.81/year for Desktop alone
– ₹2,628.30/year for Mobile alone
3 years – ₹10,640.92/3 years for Desktop and Mobile Device Usage
– ₹8,762.96/3 years for Desktop alone
– ₹3,129.09/ 3 years for Mobile alone
– ₹15,648.81/ 3 years for Desktop and Mobile Device Usage
– ₹12,518.88/3 years for Desktop alone
– ₹4,694.06/3 years for Mobile alone

Silver – This plan is for startup businesses as it allows them to create up to 3 companies, conduct balance sheets, set multiple pricing, and synchronize data across all devices

Gold – This plan is for growing businesses with established authority. This plan includes all the features in the Silver plan with quick billing, data restoration after deletion, unlimited company creation, and advanced reporting.

While Vyapar allows users to download its mobile app for free, you may be limited to basic functionality.

As a result, you can select an appropriate plan based on your usage platform (mobile, desktop, or both) and duration of use. Vyapar provides a 7-day trial to allow you to test the software.

Who's It Best For?

Because Vyapar software offers several useful accounting and GST software and is very adaptable, it can be used by a wide range of small enterprises in various industries.

Pros pros

  • GST compliance feature
  • Cost-effective, with a free version available
  • Simple interface
  • Easy to get along with

Cons cons

  • Limited scalability for growing businesses
  • Reduced integration capabilities
  • Less robust inventory management
  • Doesn’t support multiple locations
  • Customer support needs improvement

8. FreshBooks – Best for Freelancers in India

FreshBooks Logo

Best For Freelancers in India
Free Trial Yes, 30 days free trial
Price From Starting from ₹1,585.76/month
Top 3 Features Team Collaboration, Automated Mileage Tracking, Multi-language Invoicing
Why We Picked It

FreshBooks made it our top choice for freelancers with its user-friendly interface and accounting-focused feature set, including simple invoicing, time tracking, expense tracking, project management, payments, and financial reports. These features cater specifically to the needs of freelancers and small service-based businesses who consider tracking their cash flow across a range of clients.

Like Xero, FreshBooks is a cloud-based accounting software, but it prioritizes ease of use over robust third-party app integration. It allows accounting professionals to create invoices in seconds. With FreshBooks, users can also set up recurring payments, including automatic payment reminders, making it suitable for freelancers with retainer deals.

One other useful feature we admire with FreshBooks is time-tracking, as it allows freelancers to log hours worked and automatically add those hours to invoices. This system ensures accurate billing and helps users keep track of billable hours from different projects.

Features
  • Time Tracking: The time tracking tool helps you improve your productivity. You may easily send a detailed breakdown of your hours to clients and get paid fast, saving hours of manual labor.
  • Automated Mileage Tracking: Automatically capture all trips you take for clients’ work, preserves your travel history, and converts them to billable hours. It also allows you to check out potential tax deductions for each business travel.
  • Team Collaboration: The general accounting software features are designed with small business owners in mind, so it has everything you need to boost productivity.
  • Mobile App: The FreshBooks mobile app allows you to manage your finances while on the go. You can keep track of your spending, invoices, and reports, as well as communicate with clients and team members.
  • Multi-language Invoicing: The multi-language invoicing feature is a useful tool for overcoming language barriers because it allows you to produce invoices in several languages.
Pricing Plans

FreshBooks offers four pricing tiers with flexibility, allowing business owners to choose.

Plan Lite Plus Premium Custom
1 month ₹1,585.76/month ₹2,754.57/month ₹5,008.31/month Custom
1 year ₹17,128.49/year ₹29,749.47/year ₹54,089.73/year Custom

Lite – A solid foundation for small businesses with features like unlimited invoicing and expense tracking, and unlimited invoices to 5 clients.

Plus – The Plus plan takes the Lite plan a step further, with automatic expense tracking, recurring billing, accountant invitations, financial reports, and unlimited invoices to up to 50 clients.

Premium – Adds project profitability tracking, customisable email templates, and unlimited invoices to an unlimited number of clients.

Custom – For businesses needing support, the Custom plan offers dedicated account management and custom onboarding services.

FreshBooks may become too expensive for small firms to manage as the number of add-ons increases. Adding new team members costs ₹918.23 per user per month, with advanced payments costing ₹1,669.52 per month.

Who's It Best For?

FreshBooks’ project management tools enable small service-based businesses to collaborate with other service providers directly within the platform.

Pros pros

  • Simple, intuitive interface
  • Specialised invoicing and time-tracking features tailored for freelancers
  • Efficient expense management feature

Cons cons

  • Limited scalability for larger businesses
  • Fewer integration options
  • Focus on service-based businesses may not suit all types of freelancers
  • Limits on users
  • Project profitability tracking is not available on the basic plan

The Best Accounting Software Compared

Check out our handy comparison table of the top business accounting software in India.

You have a quick overview of each tool’s strengths and all the top accounting software features so you can easily see which ones align best with your business needs.

Accounting Software Zoho Books Wave Sage Xero Marg ERP TallyPrime Vyapar FreshBooks
Best For GST Compliance in India Free Accounting Processes in India Scalability in India Cloud-Based Accounting & Advanced Integration in India Smart Inventory Management Customisation in India Small Businesses in India Freelancers in India
Free Trial Yes, 14 days free trial and free plan Yes, a Free plan Yes, 3 months free trial Yes, 30 days free trial No Yes, 30 days Yes, 7 days Yes, 30 days free trial
Starting Price ₹749/month ₹1335.91/month ₹1,459.47/month ₹1,251.95/month ₹8991 ₹22,500/user ₹3,129.09/ 3 years for Mobile alone package ₹1,585.76/month
Top Features GST compliance, Custom invoicing, Smart Automation Unlimited Invoice Creation, Accounting, Simple Mobile App Scalability, Cash Flow Forecast, Tax Laws Tracking and Compliance Cloud-Based Processes, Expense Tracking, Cash Flow Tracking Advanced Inventory Management, Multi-Company Support, Barcode Integration Taxation and Compliance, Enhanced Security Management, Auto Bank Reconciliation Starting from Multi-device Compatibility, Payment Reminders, Automatic Data Backup Team Collaboration, Automated Mileage Tracking, Multi-language Invoicing

Methodology

How We Review and Test Accounting Products

To provide our readers with accurate and well-informed recommendations, we test the most popular accounting products on the market to find the best options for you. Our methodology consists of the following criteria:

  • Features: We examine the features of each accounting software to determine what capabilities are offered- such as creating, editing, and deleting transactions.
  • Compliance: We evaluate accounting software based on whether it offers local compliance when it comes to payroll, taxes, documentation, and more.
  • Bank Reconciliation: We test the reconciliation process to ensure transactions match bank statements accurately.
  • Multi-Currency Support: We verify the accuracy of currency conversions and transactions in multi-currency environments.
  • User Experience: We get hands-on with each product and act as a new user, testing each platform to gain understanding if the platform is easy to use or not.
  • Reporting and Documentation: We verify the accuracy of financial reports generated by the software such as balance sheets and income statements.
  • Integrations: We evaluate the integrations of each piece of software to determine how well it fits in with other key pieces in a business’s software stack, and whether its functionality can be expanded as required.
  • Audit Trails: We ensure the software maintains comprehensive audit trails for tracking changes made to financial data.

What is the Best Accounting Software In India for 2024?

After our comprehensive analysis of various accounting software options available in India, Zoho Books is our choice for Indian businesses looking for a seamless blend of GST compliance, user-friendly design, and an expansive suite of automation features, making it especially appealing to small and medium-sized businesses.

Some of its competitors, such as TallyPrime, provide deeper customisation options, as it allows users to tailor invoices and generate detailed reports based on specific criteria. Xero and Zoho Books are both cloud-based accounting tools and a good choice for data security, while Wave stands out as the best free accounting software in India.

This is to say that the best accounting system in India depends on your business needs. It should cater to the nuanced financial needs of Indian enterprises, streamlining accounting processes and ensuring compliance with local tax laws.

Benefits of Using Indian Accounting Software

Using accounting software for a business in India, like any other location-specific software, allows firms to operate in accordance with Indian requirements while also serving customers better. Aside from this, here are some other benefits of adopting Indian accounting software.

  • GST Compliance: Accounting software in India would have taken GST regulations into account when it was developed. As a result, adopting such a technology will make it easier for your company to comply with Indian tax laws.
  • Indian Language Support: It’s common for Indian accounting software to tailor their messages in a relatable manner to Indian speakers. Indian accounting software frequently tailors its messages to resonate with Indian speakers. This allows you and your team members in India, who are more comfortable with their native language, to navigate the program more easily.
  • Integration with Indian Banks: Accounting software designed for India would be able to integrate seamlessly with the country’s major banks. This allows you to smoothly navigate bank reconciliations, payments, costs, and cash tracking.

Types of Accounting Software in India

In India, various types of accounting solutions cater to diverse business needs. Some of the most commonly used are:

  • General Accounting Software – Designed to cover basic accounting needs such as tracking expenses, manage inventory, handle vendor payments and provide support the financial health of your business.
  • GST Accounting Software – This software complies with GST (Goods and Services Tax) regulations in India and other tax regulations.
  • ERP (Enterprise Resource Planning) – Comprehensive solutions that integrate business processes including accounting, inventory tracking, supports multiple currencies, HR, and CRM.
  • Cloud-Based Software – These solutions allows access from any location as long as there is an internet connection and often includes features such as automated backups and real-time tracking.
  • Industry-Specific Software – Tailored to meet the specific needs of industries like construction, healthcare, or law firms.

Free vs Paid Accounting Software

Deciding between free and premium accounting software might be difficult as you may get stuck on features and business needs. In most cases, the best free accounting software includes basic accounting features like invoicing, expenditure tracking, and simple reporting.

Wave, for example, is a fantastic free accounting software that satisfies all of your financial process requirements. However, you should know that free business accounting software has limitations, such as the inability to scale with your business’s growth, limited features, and basic reports, which could impact your overall decision-making.

In this case, paid accounting software will help your business needs accurately. For example, Sage is a comprehensive and highly scalable accounting software you can pay for to access all you need to make smart business decisions.

How to Choose The Best Indian Accounting Software

There are over a hundred business accounting software options available, each with its own set of capabilities. While all of them are excellent, you must carefully select the one that will work perfectly in India and help you enhance your business processes.

While you may have considered price, location, and business requirements, there are other characteristics to consider. Here are some important factors to consider when choosing Indian accounting software:

GST ComplianceBudgetLanguage SupportIntegrationsMobile SupportEase of UseScalabilityUser Limitations

One thing is crucial for accounting software in India–it must comply with GST. Ensure that your accounting software of choice is GST-compliant and has capabilities such as automated GST calculations, invoicing, and reporting.

Evaluate the software’s cost against its features. A higher price might be justified by extensive functionalities that meet your business needs efficiently, ensuring you get the most value for your investment.

As your team works together, make sure to choose an accounting system that supports the Indian language to create inclusiveness among team members and customize your message to your clients in a language they understand.

Seamless integration with other tools for expense tracking, payroll, and tax filing is crucial. Ensure the business accounting software streamlines financial management by centralizing data, enhancing accuracy, facilitating comprehensive financial oversight, and being compatible with Indian banks.

Consider accounting tools that offer a mobile app for on-the-go access.

Consider the software’s user interface and feedback from current users. A system that’s easy to navigate without extensive training can save time and reduce the burden on your team.

Assess whether the software can grow with your business. The cost of upgrading and the availability of necessary features in higher-tier plans are key factors in ensuring the software can support your business as it expands.

Many accounting solutions have user limits. Consider your team’s size and potential growth to ensure the software can accommodate your current and future user needs without paying for expensive upgrades.

FAQs

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John Iwuozor
Tech Writer
John Iwuozor
Tech Writer

John Iwuozor is a writer at Techopedia with over three years of experience and expertise covering topics on HR, business software, IT security, and finance for small and medium-sized businesses. His work has been featured on reputable platforms like Forbes Advisor and EsecurityPlanet. Leveraging his background in mathematics and data analysis, he specializes in delivering original and high-quality content with a keen eye for detail and accuracy.