Top 5 GST Accounting & Billing Software in India
The Goods and Services Tax was implemented in India in 2017. It is absolutely essential that your accounting and billing software is now GST compliant. Not only will you find it very difficult to file your returns and pay taxes, you may find yourself in legal trouble too. Ever since the announcement of the GST, software development companies have rushed to incorporate it into their respective accounting software so that they can help businesses meet the GST compliance. Here is a list of the most popular and effective GST accounting and billing software in the country:
1. IPIX Accounting
IPIX Accounting and Billing Software is a web-based, fully customizable, scalable, and GST compliant accounting system. With a user-friendly interface, intuitive navigation, and responsive design, this software offers users good UI/UX and allows them to login from a time and place of their convenience, on any device of their choosing. It supports multiple users and is suitable for small and medium businesses as well as corporate companies. Features include modules for taxation, payroll, transaction recording, inventory, supply and order management, financial management, GST billing and payment gateway integration, and so on. It features impeccable, multi-layer security, and protects sensitive data from theft and malware attacks. It’s an affordably priced accounting software solution and the company also offers good technical support for a fixed period.
2. ProfitBooks
This accounting software was launched in 2012, and is one of the first online accounting software solutions released in India. It is completely GST ready now. It has an intuitive interface and simple navigation, and supports multiple currencies and users. It features warehouse, inventory, and expense management, and payroll processing. As a GST ready solution, direct GST billing with payment gateway integration is available. It is available under 3 pricing plans. The Professional plan is priced at Rs. 5999 for one year, and is ideal for professionals and service-based businesses. The SMB plan costs Rs. 8,999 per year, and is suitable for traders and small businesses. The Company plan is aimed at large businesses and companies who outsource work and so on, and is priced at Rs. 1,999 per month.
3. Tally ERP 9
Popular with manufacturers and retailers, it is designed to be used by accountants, and may not be ideal for business owners themselves. It works offline, without connecting to the internet. Data is exported and imported manually in the tax filing module. In addition to taxation, invoicing and financial management, it also helps to manage your payroll and HR, inventory, supply and orders, and product database, and provides support for multiple companies. However it is not entirely secure, and is vulnerable to hard-disk crashes, malware attacks, and data theft. It is also expensive for systems with multiple users and does not offer business specific features. It can also become very expensive to operate in multi-user environments. The pricing us Rs.21,780 annually for a single user, with businesses having to shell out Rs.65, 340 for multiple users, with an annual renewal of 25%, and charges for every upgrade.
4. Zoho Books
Though this software has been catering to international businesses, its Indian entry was very recent. It’s a cloud based, intuitive, and flexible solution, but is not completely adapted to the Indian business scenario. It supports multiple users and currencies and is a secure solution with no risk of data loss. It is affordably priced at Rs. 2500 annually, but has limitations like allowing only 7 users per account and no branch consolidation.
5. Clear Tax
Clear Tax, as the name suggests, was initially released as a tax returns filing solution, and now they have released the GST returns filing software. It is very specific, and useful as its fully GST compliant and makes it easy to file returns. However, it’s not very user-friendly; it is meant to be used by accountants, and data has to be extracted from either an ERP system or other accounting software. It costs Rs. 10,000 annually and offers online GST courses. However, it lacks accounting or business features.
When it comes to choosing a GST ready accounting solution for your business, make sure it has all the features that you need, that it is flexible, scalable, and affordable. It should be able to handle the specific needs of your business. IPIX Accounting has all of these features and more.
Contact IPIX Tech Services to get IPIX Accounting implemented for your business today.