Accounting software is becoming a necessity for businesses today as it helps in reducing errors that can be occurred by handling the accounts manually and ultimately helping in achieving efficiency and high growth of the business.
But there are many accounting software available in the market so it is confusing which software to use for your business but don’t worry in this blog, we will let you know the top 5 accounting software for your business which can help a lot in your business.
Following Are The 5 Best Accounting Software:
Tally Prime is the best accounting software that provides the total business solutions to the enterprises. With the help of tally prime, you can manage various business functions like banking, accounting, invoicing, payroll, taxation, etc.
Features of Tally Prime
Providing insightful business reports: With the help of tally prime, you can get more than 400 business reports with useful details which will be helpful to make important decisions of the business.
Inventory management: With the help of tally prime you can efficiently manage your inventory and this is one of the most important features of this software. You get various features like stock valuation, godown management, batch & expiry date, etc.
Multi-tasking: You can do various tasks together in tally prime software like recording sales, preparing bills, etc. This will save your time and you can perform your tasks speedily.
Data Security: In the current era, data is the most valuable thing and thus you have to make sure that your data is safe & secure. In tally prime, your data is safe and you can also control who can see your data and which type of data in the organization.
Cash Flow Management: With the help of tally prime you can easily track your account receivables and payables cycle and thus you can efficiently manage your cash flow.
Zoho book is one another useful accounting software for your business. With the help of Zoho book, you can efficiently manage the finances of your business and it will be very helpful for the related functions as well as taxation, business workflow, etc.
Features of Zoho Book
Invoice: With the help of Zoho books you can manage invoices efficiently. You can send customized statements to the clients and can receive payment in multiple currencies.
Banking: With the help of the Zoho book software you can fetch your bank transactions and also reconcile your accounts with ease.
Inventory management: With the help of Zoho books you can efficiently monitor your inventory levels and also easily identify the fast-moving items of your business and thus you can keep those items well stocked.
Online payments: In this digital world, Zoho books keep you with the trend with its amazing online payment system which is integrated with various payment gateways with the help of which you can easily collect online payments from your customers.
Automation: You can easily automate the tedious high-volume and tedious tasks with the help of Zoho books software.
Oracle NetSuite ERP
Oracle NetSuite ERP is ERP software that provides a single unified platform in the cloud to streamline all the back-office processes like accounting, CRM, and e-commerce.
Features of Oracle NetSuite ERP
Tax Management: NetSuite has a useful feature through which you can track, calculate and pay different types of taxes according to your products & services.
Workflow Management: NetSuite also provides efficient workflow management capabilities through which you can automate the business processes into the NetSuite System and avoid spending time on manual processes.
Fraud prevention: NetSuite offers the highest data security and there are flexible features to detect fraudulent activities.
Inventory Control: Inventory control feature of NetSuite allows easy tracking of inventory and helps to create an active control over business assets.
Centralized Vendor Management: This is a very useful feature as this feature allows the user to manage various activities like – accumulation of requirements, choosing vendors, engaging communications, receiving bids, and pricing updates all on one screen.
QuickBooks is accounting software that helps to track sales, create & send invoices, and help you to know the performance of your business.
Features of QuickBooks
Simplified managing reports & finances: QuickBooks provide ‘income tracker’ option through which you can track your transactions and easily manage it and also you get industry-specific reports like Profit & Loss statement, cash flow statement, and many other useful reports.
Inventory Management: QuickBooks has advanced inventory feature that can quickly build sub-assemblies automatically and you can also get the accurate visibility of your supply chain.
Easy to define user roles and permissions: With the help of QuickBooks software you can make sure that which data can be accessible by which employee and it is important because some data is very confidential and you need to make it public, so you can also customize data permissions.
Simplified tracking of sales & customer: With the help of QuickBooks software you can effortlessly track your sales and customer and not only that, you can also track your leads time-to-time.
Payroll Management: Employees are an important part of the organization and thus you have to take care of payroll. By use of QuickBooks, it becomes easy to calculate earnings, deduction, and taxes of all your employees.
Wave Accounting is accounting software that helps to manage your incomes & expenses and track payments, invoicing, and payroll.
Features of Wave Accounting
Efficient accounting: With the help of Wave Accounting you can manage your accounting functions easily and can also connect all your bank accounts to get up-to-date insights.
Invoices: By the use of Wave Accounting, you can make customized bills and generate recurring invoices and can also check the status update.
Payroll: With the help of the Wave Accounting software, you can run the payroll on your computer or your phone and can efficiently manage the payments of employees.
Reports: You can get many reports in Wave Accounting like Balance sheet, P& L statement, general ledger, etc.
Track purchases & sales: In Wave Accounting software, you can also track your purchases and sales and keep a check on them.
So, these are some of the best accounting software which can be very beneficial in your business and in this automation world, you must have accounting software in your business as it makes your business task easy, fast and efficient. So, you should buy any of these accounting software. If we have to choose one amongst them, then we would choose Tally Prime as it is highly used in the business and Tally prime is also the best accounting software UAE.