In olden days before introducing accounting software, accounting tasks are performed by hand which increased the paper work, record keeping shelves, time to find a record and increased the time to get a report. For automating the tasks related to managing accounts and performing accounting operations, accounting software is introduces to reduce the cost of accounting, provide accurate and timely reporting, allow organizations to better use the information to make financial decisions. Accounting software used by accounting professionals for managing accounts, recording financial information, and performing accounting operations ranges from simple, single-entry programs used for individual record-keeping to more sophisticated, double-entry systems used for processing accounts receivable, accounts payable, payroll and inventory, among other functions.
Things to look into accounting software for choosing the best one
Depending on the size and type of your organization and your custom financial needs, the accounting software packages may vary. All the accounting software that are on list are Indian accounting software developed especially to use in India and are on market to meet your legal or internal managerial requirements and reduce the work to be done for internal and external audits. The best software includes all the features and specifications you want to be in your accounting software so you can take better financial decision and focus on your organization financial and other important goals. You must also keep in mind the growth of your organization while choosing your software. All the accounting software we listed as top includes the basic accounting features like accounts payable and receivable, invoice, customer and vendor contacts. Most of the software offers employee, payroll and inventory modules.
Accounting and Enterprise Features
The accounting software we reviewed provide basic and essential accounting features which include managing ledger, financial transactions, accoutns payable, receivable, profit and loss as well as journal and balance sheet features. Many of them allow you to maintain your customer and vendor contacts, orders, and other information. We also include the multiple payment transactions, reporting feature, tax history management, multiple currencies, various orders like sake order, purchase order, purchase return order, sale return order, etc in accounting and enterprise features. The reporting feature is one of the important aspect you must look into, because reports are the important reason for accounting software which helps you in improving your organization performance and achieving organization financial goals. Many of the software allow you to export the reports to several formats like excel, csv file, pdf, and much more.
Inventory and Payroll
Most of the organizations need to manage their inventory so as to track and manage their sales performance, stocking needs, stock location, product prices, product reorder, product list, categories they sell, and much more. All of the accounting software on the list include inventory feature but some limitations vary accordingly. Only if you want to manage your employee activities and payroll, this payroll feature is needed.
Remote access and additional business services
In the internet world, all would prefer for online and web services, most of the accounting software provide online and web services, some provides free trial and downloads. The search tools and automatic backup are included in most of the software on the list. The remote access and mobile app feature will be much more useful for you in the modern world with increased usage of smart phones. Most of the software provide addon integration for additional features and modules including POS system, credit card processing, payroll, employee management and much more. If you predict your future growth of your organization which includes multiple branches, foreign transactions, multiple warehouses, look into the addon offered by the software for future upgradation.
The reason why we look into pricing is many of the software provide some plans while some provide the software absolutely free, some fixes the price after quote. Before viewing the price look into the features and compare those with others. You have many choices with different features and modules for tracking financial transactions and near instantaneous reporting and analysis. Fix your business type and size and choose for the accounting software that suits and benefits you. Our Indian accounting software review will help you to take the right decision. Go ahead, save your time on paper works and grab your success.
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