A best accounting software is the one that keeps your financial data securely organized and makes it available whenever you need it in whichever form you want. To arrive at the best that suits your business requirement requires you to analyse the features and post sales support mechanism. Here is a list of three such applications.Please note that these are generalized accounting softwares. Small businesses do not need a customized accounting software. Medium and large scale industries prefer customized software and these generalized applications don't have enough scope for such customization. So such firms opt for ERP-ENTERPRISE RESOURCE PROGRAM. However, the cost of implementation for ERP is too high and hence, smaller enterprises opt out of ERP systems. 1. Tally
This is the most popular software in India.In fact, Tally has become synonymous with accounting. With over 75% market share, Tally is the undoubted leader in the category.
The distinguishing features of this software are -
- The USP of Tally is its easy implementation and ease of use.
- Professionals trained in Tally are readily available.
- Tally offers excellent back office support.
Tally offers you all support for almost all accounting needs like inventory, sales, purchases and pay roll among others.
Accountants have been using it for years, and as such have developed a comfort factor for working with Tally. Indian accountants are so used to the software that it has been quite difficult for other similar products to compete with Tally.2. Marg
Entering the market in 1992, MARG has created a place for itself in accounting software arena. They specialise in building customized accounting software depending on the need of each industry.
The best features of MARG include -
3. QuickBooks India
- They build customized software for for every industry, like Pharmaceutical, Trading and Retail industries. <
- They have won best accounting software award for 2008-09 & 2009-10 for pharma industry.
- They have over 700 service centers and over 6 lakh users
QuickBooks is a leading software in US and other developed countries. They have recently launched the Indian version of QuickBooks. This software software is preferred by those who have worked abroad and used QuickBooks like to continue using it in India as well.
Some of the distinguishing features include -
- Popular in developed countries, and preferred by professionals coming back from abroad
- It has tie ups with various banks to to download account statements directly through software
- Best part with the software is that you can also use it via iPhone or an Android mobile phone.