Accounting Software for Small Businesses

Top 7 Accounting Software for Small Businesses in India

Business owners and individuals utilize online accounting software for small businesses to track expenses and income and monitor their finances. 

It’s particularly crucial for small-sized businesses since it’s more efficient and can make fewer errors than manual processing. 

It also helps save time by using features such as automation and gives owners a space to keep necessary receipts and documents to access at any moment.

Accounting software is utilized by 64.4% of small-business owners. It is significant since 60% of small-business owners say they aren’t proficient in accounting or finances.

If accounting isn’t your forte or you’re trying to reduce time, continue reading to find out what accounting software is best for small businesses.

To identify the top online accounting software for small-scale companies, we looked into more than 20 software and apps before selecting the top 7. 

We chose them due to their specific features and functions created for small business owners, their ease of use, are to use, their price, and much more. These are our top choices.

The Best Accounting Software for Small Businesses in India.

These are the best accounting software for small businesses in india, for for financial statement, billing, data entry, invoicing & bookkeeping

  1. The Best All-Round: The FreshBooks
  2. Runner-Up, Best Overall: Intuit QuickBooks
  3. The best choice for multiple users: Sage Business Cloud Accounting
  4. Ideal for experienced accountants: AccountEdge Pro
  5. Highest Value the Wave Accounting
  6. Best Extra Features: Xero
  7. Ideal for businesses that sell on E-commerce: GoDaddy


FreshBooks is a Canadian company founded in Toronto in 2003 to cater to small-scale business accounting requirements. It is a cloud-based accounting and invoice software used on iPhone, Android, and iPad applications.

We have chosen it as the most comprehensive cloud accounting software suitable for small-sized businesses because it is simple for small business owners with little or no experience in accounting and has robust features and useful functions. 

It’s priced affordably and can be utilized anytime and anywhere.

FreshBooks Accounting Software Features include:

  • Reminders for payments
  • Recurring invoices, with options to customize, including due dates, discounts, and discounts
  • Online credit card payments
  • Language billing and multi-currency
  • Tax calculations that are automatic for sales tax
  • Tax-friendly categories of expenses
  • Remembered vendors
  • Time tracking using a Chrome browser extension
  • Tax help integrations to Tax apps estimates, deductions, and filing tools
  • Easy to integrate with other applications quickly with other products, such as Goggle Workspace, and Gusto

FreshBooks Pricing is tier-based according to:

  • Simple: $4.50 per month for the self-employed business owner who has five billable customers
  • Additionally: $7.50 per month for small-sized companies with 50 billable customers
  • Premium monthly fee of $15 for companies that are growing, with unlimited billable customers
  • Select: Customized features and pricing for companies with total billable customers

FreshBooks accounting software could provide discounts or bundle pricing when you pay in advance; therefore, look up any special offers before signing up.

2. RUNNER-UP, BEST OVERALL Intuit QuickBooks

QuickBooks online accountant software can be described as an accounting program that was developed and marketed by Intuit. The most recent version of QuickBooks that was cloud-based came out in 2019, but it also has distinct desktop versions for download and purchase. 

The software is primarily targeted toward medium and small-sized businesses. More than seven million businesses have used this software.

We picked it as a runner-up in our search for the best overall online accounting software for small businesses because it’s simple to use by entrepreneurs with no accounting knowledge.

 It’s also easy to install, moderately priced and has options and tools that are useful to small-sized businesses with their accounting. It helps you keep everything all in one spot and makes your company tax-ready throughout the year.

Some of the QuickBooks Online Accountant Software Features are:

  • Integration of financial institutions and the integration of PayPal, Square, Shopify, and more.
  • Help in filing annual and quarterly tax returns using instructions for users and exporting tax information
  • Calculation of sales tax, tax taxes, and returns. payment
  • Automatically sort out expenses and transactions into tax categories.
  • Take receipts, scan them as well as attach them to invoices
  • Discuss the information with your accountant, or export your documents
  • Create custom reports that include cash flow tracking that is visible on your dashboard
  • Keep track of miles using your phone’s GPS

QuickBooks has tiered pricing, so you can choose the most suitable plan to meet your needs:

  • Basic Start is $12.50 monthly for companies just beginning to get started.
  • The Essentials: $25 per month to manage growing businesses
  • Plus 40 dollars per month to help you get more organized and manage your projects as well as inventory and contractors
  • Advanced monthly payment of $90 per month to help you grow your business by providing deeper insight and personal assistance

Contact QuickBooks directly for information on the specific features included in each level.

3. BEST for MULTIPLE Users Sage Cloud Accounting for Business Cloud Accounting

Sage Business Cloud Accounting, earlier called Sage One, is a global company that provides online accounting and business solutions for small and medium-sized enterprises.

 It was established in 1981 in Newcastle, England, as an opportunity to develop estimation and msme accounting software designed specifically for small-sized firms. It’s cloud accounting software and lets you choose your business’s industry, size, and needs. 

It can match you with specific cloud accounting software India and is used by more than three million companies.

We’ve picked this as the top online accounting software for small-sized businesses with multiple users as it’s a reliable company with software that doesn’t need any accounting experience and is designed to allow many users. 

Your accountant can use the software and view your accounts at no extra charge.

The Sage Business Cloud Accounting Features include:

  • Control your business’s financials and flow of cash
  • Accept and receive payment
  • Send invoices and create invoices
  • Manage your payroll
  • It is available on all devices, which means you can view your account balances while on the move
  • Connect to your bank and other applications like Auto Entry, Zync, and more.
  • Tools for tax compliance
  • Dashboard view that is easy to read Financial reports as well as analysis
  • Controlling inventory
  • Forecast cash flow
  • Connect with your accountant at any time on any device
  • Add-ons like human resource management and estimation

Pricing is tied in the case of Sage Business Cloud Accounting as follows:

  • Accounting Starts at $10 per month for an entry-level accounting program to help control cash flow.
  • Accounting Cost: $25 per month for cloud-based cloud accounting that includes invoicing, cash flow management, and actual entries

They are currently providing discounts of 50% for three months. They also offer trial trials for free. Contact them directly for any specific options your business might require.


It is desktop accounting software for small businesses. It was created in 1989. It has since developed additional features over time.

They can use their cloud-based apps or hosting platform if you want access to your financials anywhere or via your mobile device. It’s designed for small and medium-sized enterprises.

It comes in a basic and a premium version and provides comprehensive accounting solutions with various customizations.

We picked AccountEdge Pro as the best cloud accounting software India for accountants with experience due to its powerful capabilities and reporting capabilities. It’s more complicated than the other programs and best for those already acquainted with the accounting terms.

The features offered by AccountEdge Pro are:

  • Feeds from banks that integrate
  • Direct deposit
  • Management of inventory
  • Payment processing
  • Turn quotes into invoices
  • Management of vendors and customers
  • Full-service payroll
  • Free accountant copy
  • Data syncs with the company’s files

The pricing to purchase AccountEdge Pro starts as the following:

  • The AccountEdge Basic plan: $149 one-time charge one-time fee, $199 annually for one user
  • AccountEdge Pro costs $499 one-time fee and $199 annually. Additional fees are charged for licenses and add-ons, such as check services, payroll, and processing credit cards.

For more information about the features included and what additional features cost, and to get extra features, you should get in touch with the company directly.

Any small business who need financial help from government, then should apply for udyam registration certificate.

Also get the detailed sample project report for getting bank loan.

5. BEST value Wave Accounting

Wave Accounting was founded in Toronto in 2010 and offered the software and financial services needed by small-sized companies. It’s an accounting and invoicing software that includes processing for credit cards and payroll services. 

It’s cloud-based, simple to utilize, and can be used by business owners without bookkeeping or accounting knowledge. All your information is stored in a secure backup for added security. 

Additionally, you can join your accounts with banks to manage your expenses anytime.

We selected Wave Accounting as our best budget accounting software online for small businesses because of its free invoicing and accounting services. 

Payroll services and credit card processing are subject to costs, so some services are free. Likewise, the free options aren’t as effective as other alternatives. It’s still a good choice for startups, particularly those working with an accountant or different software.

Features of the Wave Accounting software include:

  • Unlimited tracking of income and expenses
  • Keep track of sales tax on costs and income
  • Double-entry system
  • Multiple users
  • Dashboard with simple-to-read financials
  • Sort expenses and income into tax categories
  • Statements of accounts, such as profits and losses statements as well as a cash flow

Prices in Wave accounting software for small businesses are done as the following:

  • The accounting, receipt scanning invoice software, and the accounting program are free without hidden costs.
  • Credit card processing costs are 2.9 percent + $0.30 per transaction for Visa, Mastercard, and Discover and 3.4 percent plus $0.30 for American Express. American Express
  • Transfers to banks (ACH) 1.1 percent per transaction with a minimum charge of $1.
  • Payroll: $35 per month basis fee, plus six for active employees and $6 for independent contractors, and payroll taxes are managed by the firm (only applicable only in certain states)

6. The most advanced features Xero has to offer

Xero is an online accounting system designed for small and growing companies. It was created by a group in New Zealand in 2006 and is utilized by small-scale business owners, accountants, and bookkeepers.

No accounting background is required, and it’s considered simple to set up and use. It’s cloud-based and comes with Android and iPhone applications. 

It’s renowned for its user-friendly visual dashboard that’s easy to read. It can work with multiple people, such as employees, team members, and your accountant.

We picked Xero, the accounting program we used for small businesses with the top additional features since it comes with many valuable functions, such as the Hubdoc that allows you to capture invoices and receipts, as well as cost tracking for projects and project management.

It’s ideal for small-scale company accounting due to its two-step authentication feature to ensure your data is safe and the various plans that cater to different business requirements.

Its features of Xero accounting software for small businesses include:

  • Create expense claims
  • Send invoices
  • Quick bank reconciliation, connection to your bank, and other apps like HubSpot, Square, and more than 450 programs.
  • Up-to-date financial reports
  • Business data protected
  • Real-time cash position
  • Work with your staff or accountant.

The pricing on Xero is as the following:

  • Early Monthly: $12; pay 20 bills, pay five bills, reconcile bank statements, and record receipts and invoices.
  • The growth rate is $34 per month. Send invoices and quotes, enter bills, reconcile bank statements, and keep receipts and bills.
  • The cost is $65 per month. It includes all Growing Tier features, expenses, multi-currencies, and projects.
  • Each plan comes with a 30-day trial period with unlimited users.

7. The best for E-Commerce Business GoDaddy

In Baltimore, Maryland, in 1997, GoDaddy was a big name in the web hosting and site creation industry, but it also provides msme accounting software for small-sized businesses. 

It comes with tools to streamline and organize your accounting and bookkeeping processes and doesn’t require any prior knowledge of accounting. It can create an invoice, send it to customers, take online payments and access the business reports.

We picked GoDaddy as the best Accounting software online to run an online business because that’s the kind of business the software is for. It’s specifically designed for sellers who sell on e-commerce which means you can start using it within a matter of minutes, and it also syncs with Amazon, Etsy, eBay, PayPal, and more.

Remember that GoDaddy is excellent for sellers on the internet; however, it may not be enough for small businesses seeking a comprehensive accounting solution that includes tax forms automation and payroll.

GoDaddy’s offerings include:

  • The synchronization process with the online retailer
  • Online payment processing
  • Monitor expenses and sales
  • Make and mail invoices
  • Recurring invoices
  • Access business reports, including profits and loss

GoDaddy’s pricing is based on the following:

  • Get Paid: Starting with $4.99 per month. It includes estimates and invoices. It also accepts mobile payments. It tracks your mileage and time as well as current year business reports.
  • Essentials: Prices start from $9.99 per month. It covers everything included in the Get Paid level, plus endless business reporting, automated credit card imports, and sales data imports.
  • Premium: Starting with $14.99 per month. It includes everything in the Essentials tier and regular invoices.

Author Bio:

Foram Patel is a writer and serial entrepreneur at Techimply, covering IT strategy and trends. She’s keen to share her knowledge on a few online accounting Software for small businesses technology-related topics with readers that can assist any kind of business. Her passion for helping others keeps her motivated.