10 Best Free And Open Source Accounting Software For SME’s

10 Best Free And Open Source Accounting Software For SME’s

Accounting related tools are getting very eminent these days especially with new businesses being born everyday. In order to keep track of all the finances, today, we share the list of top 10 accounting software of 2021.

List of Top 10 Free and Open Source Accounting Software

Tally ERP 9 (Tally Prime)

Highly integrated and feature rich Tally ERP 9 comes with extensive accounting features fostering overall efficiency and accuracy. The incomparable modules offered by Tally finance, purchase, inventory, sales, manufacturing, point of sales, costing, payroll and branch management along with capabilities like statutory processes, excise etc.

Marg ERP 9

Marg’s Accounting Software is an exquisite bundle of accounting operations automated to the fullest thereby allowing businesses to efficiently execute all accounting functions viz. basic accounting, VAT computation, sales tax declaration, ledger & main account posting, depreciation, reconciliation, voucher entry, sales and purchases among others.

Busy Accounting Software

Busy Accounting Software is a cutting edge accounting solution empowering businesses with impeccable tools for financial accounting (multi-currency), inventory management (multi-location), production/ bill of material, sales/ purchase quotations, sales/ purchase order processing, fully user-configurable invoicing, user-configurable documents/ letters, user-configurable columns in reports, CST/ VAT Reports (State-specific), manufacturing/ trading excise registers, service tax & TDS, MIS reports & analysis.

IDOS Accounting Software

Idos is a Cloud Accounting and Finance Software facilitating businesses to execute accounting operations from anywhere anytime seamlessly. In-built compliance and intuitive feature ensure transaction accuracy and authenticity. Real-time and accurate business intelligence has been embedded into the solution to create useful business insights and effective decision making

Focus 6

Focus 6 is a holistic accounting solution especially designed for SME businesses that provides multiple currency and multi-lingual interface options. The eminent features of Focus 6 include financial accounting, inventory control, order processing, fixed assets management, attendance and payroll system.

Saral Accounts

Next on our list of Top 10 Accounting Software of 2021 is Saral Accounts. It is an innovative accounting solution incorporating all vital accounting operations automated to deliver high productivity at zero error. With in-built alerts for negative cash and bank balance, expiry goods, negative stock etc., solution helps in flawless execution of various operations pertaining to accounting, product billing and inventory, pricing and discounts, service invoice, views and reports, and statutory among others.

Zoho Books Accounting

A scalable and robust Zoho Books, is an ultimate cloud Accounting solution for growing businesses. Zoho Books simplifies the accounting processes to be managed in an organization including contact management, invoicing, sales, purchase, inventory, basic accounting, taxation and many more.

Zipbooks Accounting

ZipBooks streamlines financial operations to increase business productivity. It is an end to end solution allowing to track all business transactions while helping in the management and the decision making. The solution provides full functional features of accounting, inventory, purchase, sales and CRM.

EBS Business Accounting Software

Commendable features of EBS Business Accounting Software (Tradsof) empowers the businesses with easygoing and errorless financial accounting operations. The solution is a complete bundle of automated accounting, purchase, sales, inventory control, VAT, aging analysis and reporting functions. It is yet another one of the top 10 Accounting Software of 2021.

Prime’s Financial Accounting Software

One of the leading solution, Financial Accounting Software from Prime, brings intuitive features that caters to the overall automation needs of accounting. This esteemed solution enables businesses to handle crucial accounting functions such as daily transactions and voucher entry, debit and credit notes creation, cash and bank books maintenance, journal and ledger posting, trial balance creation, balance sheet maintenance, and reporting with just a few clicks with reduced time and effort.

Hope you’ve enjoyed our list of Best accounting software of 2021 for small business. In case it has helped you, check out the links for each of them mentioned above.

5 Things to Consider Before Buy Cloud Based Accounting SSoftware Solutions

Remember the olden days when you had to purchase multiple software licenses for your computers because one license = one computer was the rule? Well, that’s not true anymore! Gone are those days and with them those pesky accounting software which were built to hoodwink business users. These software were so bad that only accountants could decipher how to use them.

Ever since the market has been flooded by ‘Software as a Service’ providers, old players have been forced to up their game and augment the usability of their offerings. Plus, they’ve had to streamline their administrative tasks ensuring things don’t go off the rails and keep chugging along smoothly.

Nowadays, instead of spending thousands of bucks on the latest version of your solution, you can instead pay a monthly subscription fee for top accounting software. You have the freedom to access your data anywhere at any time and you know what’s nifty? Whenever a new accounting rule is made into a law or an old law updated, the system automatically updates itself. Pretty neat huh?

With cloud-based accounting software, you can easily create an invoice, process your payments and even reconcile your bank statement. The new players have forced the golden oldies to make their solutions more reliable, user-friendly and up to date. However, before you jump in and decide which cloud-based accounting software you want to subscribe to, you need to take a few things into consideration.

1. Annual fees:

The main point of beef would be the annual subscription fees that you’ll have to pay to rent or access the cloud-based service. Bear in mind you’re not actually buying the software. The main plus point is you don’t have to make a capital purchase but rather need to pay monthly or yearly fees. These fees could be little as few dollars a month or run up to hundreds of dollars a year. You’ll come across Software as a Service (SaaS) providers who’ll try to spin their services as a cheaper alternative to purchasing the software. Pick your poison!

2. Your data:

Keep in mind that SaaS providers don’t just provide you access to software but also keep hold of your data. If you purchase a top accounting software, you won’t need to worry about switching providers or making back-ups!

3. Integration:

As your business expands, you’ll be able to invest more in SaaS and probably come to face a situation where you may need or want different services to work together. Take for instance, you might need to sync your accounting software with your CRM solution; you need to conduct a thorough research before making your decision.

4. Bank feeds:

Cloud-based accounting solutions offer you the facility of directly connecting to most banks. They collect transaction data and help you save yourself from the trouble of manually typing every transaction. However, do ensure that your bank is properly supported before you decide to make the jump.

5. Multi-platform and mobile:

Cloud solutions also provide facility of raising invoices from smartphone, or keep tab on your outstanding accounts from your phone. This can come in handy when you’re visiting a customer. Something to think about, right?

Last words

So, whether you choose to go the SaaS way or have your heart set on one of the top accounting software that will help propel your business to the next level, stop…think…and make an informed decision.

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