Since 2015, Digital India Mission has accelerated the use of digital infrastructure across a wide array of sectors and the financial ecosystem isn’t an exception. Today, accounting software has replaced traditional methods of financial management. It’s time to bid goodbye to the headaches of manual bookkeeping and shake hands with E-invoicing software.

Still, hitched up with the manual record maintenance? Don’t know how to efficiently manage your finances? Here it is, a one-stop shop to resolve all your accounting concerns.

Let’s quickly scroll through India’s top-rated solution for your record maintenance concern.  

What is Accounting Software? 

Accounting Software

Accounting software refers to a platform that allows small and mid-sized businesses to seamlessly manage daily accounting activities like invoicing, inventory, tax billing, ledgers, and much more. Accounting software facilitates seamless processes for businesses and ease the burden associated with accounting and billing tasks. The e-invoicing software opens the easiest gateway to automate finances and improve cash flow. The fact that these platforms are cost-effective and can be mastered quickly has helped them gain momentum across the financial ecosystem. Want to make a smarter move with GST software but, scratching your head with too much confusion? Don’t know how to make the right choice with e-invoicing software? Here it is, check out the below checklist and see if the accounting software you choose ticks all the checkboxes.

Top 10 Checkboxes You Can’t Ignore While Choosing Accounting Software! 

With too many accounting softwares available in the market, choosing the right platform is a tedious task. There are a few accounting applications that can be customized based on your industry type and requirement, but getting the best one is quite difficult.

Here’s a simple checklist you should follow before you sign-up for one.

1. Accounting Platform:

It is crucial to verify if the software offers a comprehensive view of business finances and assists in tracking your financial ecosystem. Analyze if the software offers hassle-free customer data management, e-way bills, easier data import and export, and much more. 

2. E-Invoicing Software:

Get rid of manual invoicing now with E-invoicing software. Check if your software enables easier sending of bills to customers and tracking payments received with just a few clicks.

3. GST Accounting Software: 

Check out if the GST filing software provides regular updates on your GST compliance, generates accurate taxation reports, and makes it easier for you to pay taxes. Testify if the information generated by the software is helping you to stay compliant with the GST regulations and avoid expensive fines. 

4. Financial Reporting: 

The accounting software should be capable enough to generate comprehensive reports of your income and expenses. It should also assist you in extracting insights for marketing, sales, product development, and much more. 

5. Financial Bookkeeping Software:

The software should be able to project your accurate financial status and streamline your economy. 

6. Inventory Management Software 

Check if the software can effectively manage your inventory too and reduce your time delays due to manual inventory management. If you wish to streamline your business outcome and save your efforts go for a robust inventory management system that monitors your stock. 

7. E-way Billing: 

E-way billing integrated into your accounting software will add-in transparency and efficiency to the goods transported worth more than 50,000. Check out if it is assisting you to track the shipments, ensure compliance with regulations, and improve efficiency. 

8. Team Chat and File Sharing: 

The software should also unlock flexible collaboration between team members ensuring easier sharing of reports and chatting. This will help the team to achieve results together and work progressively by staying updated about each other’s tasks. 

9. User Control: 

Through this feature, you can create accounts for your staff and assign different roles and responsibilities they are meant to serve. Also, make sure the accounting software is enveloped with heightened security protocols that restrict proxy access to the data. Also, the system should be customizable allowing you to set access permissions for your staff. 

10. Accounting and GST Software: 

Look out for software that offers best accounting or financial management services. Initially, try its basic or free version and if the software is handy you can even unlock its paid model. Check-out for maximum services at minimum cost, if the software offers a wide array of services under the free model shortlist it for further testing.

The accounting and GST Software that ticks the maximum checkboxes from the above-mentioned can be integrated into your financial ecosystem.

Let’s Wrap Up! 

With digitization laying the firm pillars of the Digital India Mission, even today we find many organizations processing their accounts manually. Today, accounting and GST software are slowly replacing traditional methods. A wide array of accounting softwares are available in the market but choosing the best is a tedious task. Hopefully, the above checklist will guide you to make a smarter move.

Hurry up! What are you waiting for? Just scroll through the list and hunt for the best accounting software that meets your business needs. Go ahead with a one-stop shop that resolves all your accounting concerns. If you manage to find accounting and GST software will be an add-on to you.

Leave a Reply

Your email address will not be published. Required fields are marked *