Accounting Software For Small Business 2022 | QuickBooks India (2024)

FAQs

Which accounting software is best for small business in India? ›

QuickBooks offers more in-depth bookkeeping than Tally does. Tally is more appropriate for enterprise-level corporations, whereas Quickbooks is targeted at independent contractors and small businesses. While Tally focuses on more sophisticated warehousing and project management tools, Quickbooks is more on bookkeeping.

The report said the software firm announced the news in an email to its customers. “As of Jan 31, 2023, we will no longer offer QuickBooks services in India,” the company wrote. “We understand this change may be disruptive to your business.” This is not the first time Intuit has discontinued its products in India.

Deciding between Excel and QuickBooks largely depends on your needs and preferences. Record-keeping is a vital part of your company's financial health. While you can choose Excel if your financials are not complex, modern tools like QuickBooks can significantly accelerate your business growth.

This is why Xero Accounting Software in India, has garnered so much attention within the business community. Xero Accounting Software comes with a 30-day free trial as well starter, standard, and premium plans to cater to your specific business needs.

Tally ERP. 9 is a free accounting software that manages your business with the applications that manages accounting, finance, point of sales, payroll and branch management. How can I download tally erp9 for free? You can install Tally.

Excel is extensively used in Finance, Marketing, Human Resources, and Operations, while Tally is a staple in Accounting and Finance. Some potential job roles are Financial Analyst, Data Analyst, MIS Executive and Operations Manager for Excel experts and, Accountant or an Audit Manager for those proficient in Tally.

Even their own support reps have told me not to use their Quickbooks Online Accountant app as, in their words, "it doesn't work." QBO is garbage -- an impossible piece of software; unreliable beyond words; poorly coded and full of bugs; with one of the worst UX/UI (user experience/user interface) ever designed.

The quickbooks subscription fee per month was INR 412.37 in Jan 2022.

Note: QuickBooks has been discontinued for Indian users since April 30, 2023.

Is QuickBooks becoming obsolete? ›

When does service discontinuation happen? After May 31, 2024, your QuickBooks Desktop 2021 software will be discontinued. This includes all 2021 versions of QuickBooks Desktop Pro, QuickBooks Desktop Premier, QuickBooks Desktop for Mac, and QuickBooks Enterprise Solutions v21.

#1) Xero. Xero is cloud accounting software competing with QuickBooks Online, used by startups and small businesses. Xero provides most of the accounting features you'd look for, including an online accounting dashboard.

Can you use Excel like QuickBooks? No, Excel cannot replace QuickBooks completely, as they serve different purposes. Excel is a spreadsheet program for analyzing data, while QuickBooks is an accounting software for tracking financial transactions.

While Quickbooks is useful, it can't catch all financial mistakes or offer personalized suggestions like a human bookkeeper can. A bookkeeper provides a holistic view of your finances and can identify areas needing attention that software might overlook.

CPAs can handle all the financial responsibilities that accompany running a business. From bookkeeping, creating year-end reports, or handling the taxes, a CPA will take these time-consuming tasks off your plate so you can spend more time on other aspects of the business operations.

Cash accounting method is ideal for small businesses which prefer a straightforward way to measure income and expenses. However, revenue won't appear on the ledger until the payment is received.

Small businesses use cash basis accounting for 2 reasons. The first reason is to have a better understanding of their current cash flow. It's simpler to see but often deceptive. The second reason is someone untrained in accrual accounting is doing it.

Outsourced Accounting Cost in India

So, a small business with limited accounting obligations could end up paying between 10,000 INR and 20,000 for monthly bookkeeping, GST calculation, GST payments, TDS calculation and payments, GST monthly return, and more.