Best Accounting Software for Businesses in India

Best Accounting software
|Updated on: February 21, 2023

What is Accounting Software?

Accounting software is a business management software used by businesses to record the transactions, process and present the business information in the form of reports, giving a complete picture of the company. It helps you to keep track of all the financial records and manage various accounting tasks.

By automating the recording of accounting information, accounting software enables efficient and quick processing of financial information. Other than businesses, accounting software is used by professionals such as Bookkeepers, tax professionals and other accounting professionals.

TallyPrime is accounting software that makes recording and organizing accounting information so simple that in no time you will be in greater control of your business, right from invoicing to insights that matter business growth. 

Accounting Reports in TallyPrime

Key features/core modules of TallyPrime as Accounting Software

TallyPrime, a complete accounting software help you manage several functions of the business, starting from recoding the business transactions to generating complex reports, in an integrated manner.

Accounts receivable, for all money the business receives

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Accounts payable, for all money the business owes

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Pre-defined chart of accounts

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Invoicing and billing

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Flexible inventory management

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Insightful business reports

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Sales and purchase management

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Record and Bookkeeping

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Transact in multiple currencies

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Online business reports


Employee Payroll Management


Multi-company support


Cost tracking and analysis


Complete solution for GST, TDS and TCS


Accounting reports in TallyPrime 

TallyPrime comes with a diverse set of readily available business reports with numerous views and actionable insights to help you make informed decisions for your business growth. These reports are designed to aid in analysis, such that you can slice and dice the information in reports and create various viewpoints to understand the reports better.

The best part is that you can personalise the business reports by creating and saving multiple views of the same report, the way it works for you. 

Accounting reports
  • Ledger reports
  • Cash/bank books
  • Purchase/sales register
  • Bills receivables
  • Bills payables
Financial reports
  • Balance sheet
  • Profit & loss A/c
  • Trial balance
  • Ratio analysis
Inventory reports
  • Stock summary
  • Stock ageing analysis
  • Movement analysis
  • Stock transfers
  • Stock item cost analysis
  • Location/godown summary
  • Stock-item-wise profitability
  • Order summary
  • Batch summary (Mfg. & Exp.Date)
  • Re-order status reports
Management control reports
  • Cost centre
  • Cost category
  • Budget
  • Cash flow report and projection

Why is accounting software important in business accounting?

Business accounting involves a wide range of activities in order to capture a business's entire financial picture. Done manually, it's complex and time-consuming work. But accounting software has helped simplify these processes, giving business owners more time to focus on the administration and execution of their strategies. Below are some of the key benefits of using accounting software:

  • Improved business efficiency 
  • Sync between invoicing, accounting, and inventory 
  • Improved speed of data entry and processing 
  • Error-free data-entry and accurate accounting reports  
  • Auto-generated business reports 
  • Single source of data access for all functions in the organisation 

Things to consider before buying an accounting software

  • Automation of Accounting process and tasks
  • Auto-generation of business reports 
  • The reports from software should aid in analysis and allow you to personalise the reports
  • scalability & incremental implementation of features/modules as business grows
  • Complete solution to manage GST and other statutory as applicable to your business
  • Intergrates several functions such as accounting, inventory, taxation etc 
  • Online access to business reports 
  • Quick to on-baord and easy to use 
  • Easy access to self and technical support system 
  • Date Security
  • Option of Free trial to experience the software 

Watch Video on Tips & Tricks in TallyPrime to Make Accounting Simple


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Video Guide - Accounting Software with TallyPrime

Frequently asked questions

How to choose the best Accounting software in India?

To choose the best accounting software in India, you must keep in mind the following aspects:

    • Free trial
    • Easy to install and use
    • Scalability
    • Price
    • Online technical support
    • Data security
    • Anytime, anywhere access
    • Compliance

When is the best time to switch to accounting software?

The best time to switch to accounting software is when you want to automate and streamline your business process more. An accounting software like TallyPrime moulds with your business and becomes your growth partner by offering capabilities, that will not only take care of your current needs but also future requirements.

What is the best accounting software for accountants?

The best accounting software for accountants is one that is flexible to take care of every aspect of a business. TallyPrime -  a complete business management solution offers features like; inventory management, payroll management, statutory compliance, seamless banking experience, credit management, over 400 financial reports and many such capabilities to boost your business efficiency.

What is the price of Tally accounting software?

Whether you're a small business or an enterprise, Tally's business software caters to all your ERP or Accounting needs. See our plans, pricing and buy online.

Silver Rental (Single user edition) INR 600/month (+18% GST)
Silver Perpetual (Single user edition) INR 18,000 (+18% GST)
Gold Rental (Unlimited multi-user edition) INR 1,800 (+18% GST)
Gold Perpetual (Unlimited multi-user edition) INR 54,000 (+18% GST)

Is Tally a good accounting software?

Tally is a one stop solution to manage all business activities more efficiently. TallyPrime comes with a diverse set of readily available business reports with powerful and actionable insights, helping you make informed decisions for your business growth. Be it business relationships, cash or inventory, these reports will help you manage all these aspects better with extremely easy discovery and navigation.

Read More on Accounting Software

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