There is an abundance of excellent accounting software accessible for businesses to choose from. Being a business owner, you could find it challenging to select one among the numerous available options. Well, don't worry. We're here to support you in choosing what's best for you and your company. Since Quickbooks products and service offerings for accountancy and small business customers will no longer be available in India from 30th April 2023, here are the best alternatives to choose from.
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ABOUT QUICKBOOKS
The company accounting software QuickBooks aids in the creation of reports and tax returns. You can monitor your company's total financial health, from income to spending.
THE FEATURES OF QUICKBOOKS THAT YOU ARE USING CURRENTLY
- Cloud Accounting: Users of QuickBooks accounting software that is hosted in the cloud may access their accounts and manage their company's operations from any location at any time. You may manage and track your accounting chores while on the move using a computer, tablet, or mobile device.
- Invoicing: With the help of this online accounting tool, you can quickly and easily produce personalized invoices, sales receipts, and estimations. Additionally, it becomes simpler to send your clients GST-compliant invoices and sales receipts via email. GST-compliant invoices may be created and sent from any location and on any device.
- Online Banking: QuickBooks' online banking connection function assists in automatically updating all transactions and statements. Simply link each of your bank accounts to QuickBooks and then monitor your cash flow information. Furthermore, the accounting software QuickBooks makes it simple to add notes to transactions.
- Accounting Reports: Produce precise accounting reports that make it evident if your company is running at a profit or a loss. You may discover patterns in your company's operations and easily handle your accounts payable and receivable with the use of customized reports. To have a better understanding of your accounts, you may also compare your income and spending year over year.
- Cash Flow Management: Better cash flow management is made possible by this accounting software's function that integrates online banking. This program is mobile-friendly and is simple to sync with many apps, enabling you to download and share receipt photographs online.
- Time tracking: The program offers excellent tools for recording employee time and billable hours. Along with clients, you can also keep track of your clients' billable hours and utilize the information to create hassle-free bills..
- Multiple Users: Multiple users may access and work on your books at the same time. This makes it feasible for your accountants to collaborate more effectively.
ALTERNATIVES OF QUICKBOOKS:
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TALLY
Currently known as Tally Prime, Tally ERP 9 is a full accounting package for small and medium-sized organizations. It is comprehensive accounting software that makes operations like accounting and finance, sales, and inventory simple. The accounting software Tally Prime also aids in point of sale, costing, and payroll administration.
FEATURES OF TALLY
- Accounting Management: Tally assists in maintaining the financial stability of your business by ensuring that all legal obligations are met, keeping track of your tax obligations, and managing payables and receivables through accurate and up-to-date financial data.
- Inventory management: Keeping track of your inventory will boost sales, client happiness, and business productivity. With Tally ERP 9, it's simple to keep track of orders, view your current inventory level, and determine your exact stock needs.
- Manufacturing: Each sector has a unique manufacturing process, and Tally ERP 9 has been designed with manufacturers in mind, especially those that seek to simplify their manufacturing procedures.
- Purchase Management: ERP 9 is a top accounting program since it allows you to effectively manage your purchases and so save money. In addition to better supply chain management, having a robust buy management system guarantees that you have a good connection with your vendors.
- Sales Management: Because Tally ERP 9 handles several sales activities, it is the greatest accounting solution for firms. Regardless of whether it's a sales invoice or a whole sales cycle that includes sales orders, delivery notes, credit notes, and receipts. Additionally, it changes to meet your company's demands, giving you extraordinary operational flexibility.
- Tax Compliance: Tally ERP 9 simplifies the entire tax compliance process taking care of invoicing, printing, generating error-free returns, and reconciling your returns.
- Insightful Business Reports: It provides more than 400 business reports.
- Credit management and cash flow: You can see your cash flow in great detail. Perform several accounting tasks without moving between Tally Prime instances thanks to its multi-tasking capabilities.
- Go to Feature: Helps discover how Tally Prime can offer insightful results just the way you want.
- GST & Taxation: Facilitates quick e-Invoice generation and permits printing of invoices in a variety of formats.
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ZOHO
An all-in-one tool for handling your accounting needs is Zoho Books. Zoho Books offers assistance at every step, from processing invoices and invoicing to balancing your bank accounts. It also aids in managing all GST compliances and project delivery oversight.
ZOHO FEATURES
- Invoicing: ERP 9's main rival and another leading accounting program is Zoho Books. Professional invoices may be created, and automatic reminders can be set up to pursue online payments.
- Payables: Keeping thorough, precise records in one place in Zoho Books can help you maintain track of your purchases and expenditures. Additionally, you may use your phone to scan the receipts and generate reports. With Zoho, you can easily keep track of your costs, bills, and vendor reimbursements.
- Contact Management: Zoho's contact management assists in keeping track of all of your clients and suppliers in a single location by allocating to each entity a primary contact person, a billing address, and default payment conditions.
- Inventory: With Zoho's solution, managing your inventory is simple since every time a sale or transaction is made, your stock levels are updated automatically.
- Banking: The number of transactions also rises as your organization expands. All of your bank transactions may be compiled in one place, and it just takes a few clicks to organize and reconcile your accounts.
- Customization: By automating even the most specialized corporate procedures, Zoho supports the claim that it is the best accounting software. Through tailored communication, you can stay in touch with your clients. With Zoho Books, you can provide your staff members regulated access to the financial data they require while also defining their roles and responsibilities.
- GST Ready: Zoho Books is GST compliant, so you can use it to calculate your GST liabilities, submit returns, and make payments all from one place.
ZOHO VS TALLY VS QUICKBOOKS
| SPECIFICATIONS | ZOHO BOOKS | TALLY | QUICKBOOKS |
|---|---|---|---|
| COMPANY'S NAME | Zoho books | Tally Prime | Quickbooks |
| BUSINESS TYPE | SMBs, Freelancers & Big Enterprises | Small businesses to big enterprises | SMBs and big enterprises |
| DEPLOYMENT | Cloud- Based | Not Cloud- Based | Cloud-Based & On Premise |
| LANGUAGE SUPPORT | Multi foreign languages | Multi Indian languages support | Multi languages support |
| SUBSCRIPTION | Both monthly and yearly plans available | Both monthly & one-time payment plans | Both monthly & one-time payment plans |
| FREE TRIAL | 14-day free trial | 7-day free trial | 30-day free trial |
| COMPATIBLE PLATFORMS | Windows, Mac, Android and iOS | Windows, Mac, Android & iOS | Windows, Mac, Android & iOS |
| PRICING | Paid plans start from ₹ 499. | Monthly paid plans start from ₹ 600. | Monthly paid plan ₹ 529 |
Zoho Books features invoicing, payables, banking, and customization of even specialized company workflows, whereas Tally delivers accounting, inventory, sales, and buy management along with an emphasis on manufacturing.
The top two accounting software program in India— Zoho Books and Tally ERP 9—were compared above. You may choose the best software for your needs and budget.
