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Accounting Software for Small Business

What is accounting software?

Accounting software is an application that records and reports a business’s financial transactions. Core modules of accounting software includes accounts payable and receivable, billing, and bookkeeping. Non core modules of accounting software may include debt collection, expenses, timesheets, purchase reconciliation, payroll, and reporting for all of these. Accounting software is either cloud-based or desktop-based. The best accounting software for small businesses listed here is cloud-based.

Why use accounting software?

Business accounting Reports

Generate 20+ business accounting reports using this offline accounting software for small businesses & keep a regular check on your business. These business reports will help you get an overview of your business in simplified charts & make strategic business decisions to boost your business growth rapidly.

GSTR Reports

File your GST returns accurately using GSTR reports like GSTR 1, GSTR 2 and GSTR 3B generated from this free accounting software. This smart bookkeeping software prepares these insights/reports using the accounting transactions recorded & helps you file your GST returns accurately.

Account Receivables / Payables

Manage all your account receivables/payables with our easy offline accounting software. You can keep track of all credit sales, send automated payment reminders and party balances to your customers on Whatsapp to get faster payments. This will also help you maintain a regular cash flow for your business.

All accounting accurately

Do all accounting transactions like creating professional bills, recording sales, purchases & expenses, keeping track of inventory, etc., accurately using this free accounting software. It helps in smart bookkeeping, maintaining business records & analysing business performance regularly.

Billing and Invoicing

Make professional GST & non-GST bills & invoices using this small business accounting software, customise it according to your needs & share them with your customers in just 3 clicks. This will help you keep track of account receivables & maintain cash flow for your business.

Stock Management

Record, track & adjust your stock using inventory accounting features like upload bulk stock, low stock alert, stock adjustment & detailed stock inventory reports. It will help you reorder stock at the right time & avoid any revenue losses. Also, in case of excess inventory, you can avoid unnecessary purchases.

Multi-user functionality

Add your staff like salesman, delivery boys, stock managers, etc. & give them access to certain features that will help you track multiple transactions with this online accounting software. These staff members can make data entry from their mobile phones & you can track their activities in real-time.

Expense Tracking

Record & track your business expenses easily using detailed expense reports and get an accurate picture of your business profits. This offline accounting software can help you control business expenses by tracking them properly & providing insights on the expense pattern.

Faster Payments

The new Smart Collect option allows you to send invoices with payment links to your customers. The customer can simply click on the link to pay the amount through RTGS, IMPS, NEFT, or UPI. Once the payment is done, you will instantly receive the notification and the ledger also gets settled automatically.

Benefits of using accounting software

Track business performance

Using myBillBook accounting software, you can track your finances like never before. You can generate 20+ business reports from this software and keep track of your business health. In addition, this software provides an overview of all financial transactions like sales, purchases, expenses, etc. using simplified charts.

Accurate Accounting

With myBillBook, you can keep your accounting books accurate. You can maintain party-wise ledgers, cash ledger, bank ledger, day-wise sales/purchase ledger on this online accounting software for SME. It makes it easier for you to reconcile balances and generate financial records that you can use to file IT or GST returns.

Streamlined cash flow

With myBillBook bookkeeping software, you don’t have to worry about delayed payments from customers. You can send payment reminders to your customers on WhatsApp with the payment link & receive your payments on time. This software helps you receive payments using digital methods like UPI, NEFT, RTGS, etc.

Save time & money

Manually recording all financial transactions requires a lot of time and can lead to reconciliation errors, which can cause huge losses to your business. Automating your business transactions with myBillBook accounting software for small businesses will help you save your time & maintain accurate records.

Professional billing

You can create professional bills using myBillBook online accounting software and impress your customers with professionalism. This software streamlines the entire billing process for your business & enhances business identity among your customers. Also, you can customise your bills/ invoices using the 10+ formats available.

Grow business faster

Using this accounting software for small businesses, you can automate & manage your business operations seamlessly on the go. In addition, this software provides simplified & powerful insights/reports on all aspects of business, which you can use to make strategic business decisions for the future.

Frequently Asked Questions

Accounting software is a program/software that helps businesses record, analyse and report their financial transactions. It allows business owners to store the enterprises' financial information and record day-to-day transactions.

1. Makes professional bills or invoices quickly & allows to share it directly with the customers on WhatsApp
2. Help record all the financial transactions & give a clear image of the business health
3. Accelerates payment collection through accounts receivable/payable management
4. Helps record & track expenses and maintain profit/loss account
5. Helps prepare GST returns, income tax returns, balance sheet & profit and loss statement for the business

Accounting software is important for business because it helps digitise day-to-day business transactions, provides financial reports at one click, helps accelerate the business’s cash flow, and manages accounts receivables/payables.

You don’t need an accountant or any prior formal training to operate myBillBook accounting software for SME. This product offers a simple-to-use and robust platform to business owners to conduct their accounting operations seamlessly & manage their business from their mobile phones.

myBillBook is the best accounting app for small businesses in India. It is very easy to use software and available on mobile & desktop at affordable prices. The owners can use this offline accounting software for businesses to make professional bills/invoices, maintain party ledger, track inventory, record & analyse expenses, etc.

Accounting software helps business owners to record, analyze and reconcile their transactions. The software also eliminates the risk of human errors while performing financial transactions. myBillBook accounting software helps businesses to manage & control their business operations through mobile & desktop and gives complete visibility into the business financial health.

All businesses, especially GST registered businesses should use accounting software.

Businesses need accounting software to manage their business operations professionally. With the help of an online accounting software, businesses can process their transactions with greater speed than manual methods. The software also gives them a clear picture of the performance & helps generate financial reports like balance sheet, profit & loss account, etc.

1. Improper record keeping methods like recording sales, purchases on pen-paper
2. Failure to reconcile books of accounts on time
3. Data entry errors while recording financial transactions
4. Chances of fraudulent activity