Today, every business needs a new billing management system, which should work according to the new tax regime of India. For this, many companies like ClearTax, Tally, and Marg Accounting has introduced their new billing software, which has been developed completely based upon the new Goods and Service Tax guidelines.
A billing and invoicing software help businesses perform automated calculations, keeping taxes in mind. Additionally, they are also useful for bookkeeping and record-keeping purposes.
To help businesses choose, here’s a list of the top 10 billing and invoicing solution available in India:
How To Find The Best GST Software?
Like every person, every firm is different and has its own expectations from any accounting software. Based on your business, you should check the following points:
1) Software should include all requirements relating to payroll.
2) The system should be able to track available stock, work in progress, orders, jobs, and other task management requirements
3) There should be a provision which can handle more than one bank account.
4) Whether the software handles foreign exchange.
5) There should be a system to keep records of each business or various departments under one business unit.
6) Check whether the Software provides you with an online platform for different activities such as online payments, verifying records,
7) Whether the system can manage different records on what do customers buy, how much they buy, a tax charged on it, etc
1) According to the business, it should customize the look and generate GST invoices.
2) Different categories. Should be there for different expenses.
3) By importing the bank transactions it should generate the Reconciliation Statement (BRS).
4) Inventory purchases and purchase orders (PO) will be recorded.
5) Record-Journal Voucher entries.
6) Managing database of customer and vendors.
7) Updated information about accounts payable and accounts receivables so that the user is well aware.
8) Help in generating Balance Sheet, Trial balance reports, and Profit and Loss statements as for and when needed.
9) Give platform for different users to use it in a business unit at the same point in time as at times there are different users in one business unit.
To help businesses choose, here’s a list of the top 5 billing and invoicing solution available in India:
Zoho Invoice is a hassle-free invoicing & billing software that helps businesses send automated payment reminders to their customers and get paid faster online. This web-based solution empowers businesses with the best-automated tools, to smoothen and simplify invoicing operations. With Zoho, users can create invoices, perform faster payments and manage projects on the fly.
Quickbooks is a reliable and scalable invoicing and billing software for businesses of any scale. Using Quickbooks, users can manage their business and stay organized anytime, anywhere on their computer, mobile or tablet. Create customized and professional invoices, sales receipts and estimates that can be sent in minutes, using QuickBooks.
Sleekbill is a simple and efficient billing software which has been specially designed for the Indian market. The software assists in making your invoicing operations efficient. It is a fast and highly scalable solution which can also be used to generate quick and detailed reports, backup/restore data, print/e-mail invoices, and perform GST calculations.
HyperDrive HDPOS Smart
HDPOS Smart is a retail POS billing software, designed to automate retail billing. It is efficient at handling inventory, financial accounting, and billing. HDPOS Smart can be employed at all types of business setups, ranging from stores to hypermarkets. It has additional modules for inventory management, franchise management, accounting, customer management, etc.
MargERP 9+ is an ERP solution that can also be used for invoicing purposes. From automating various ERP components to ensuring complete management of inventory, sales, distribution, procurement and, accounting, MargERP is a complete invoicing and billing software. Simple and easy to use, MargERP 9+ enables users to attain high performance and improved productivity for various domains.
If you own medium-sized business, all these tasks can cause a huge headache. A billing and invoicing solution will not only help businesses ease their payment processes but also get a better grasp of their finances. In turn, businesses can use this data to improve their different financial processes to make them more effective. Which one is your favourite GST software?