5 Cost-efficient Accounting Software for Startups in India

Indian startups cater to multiple departments single-handedly. Did you know accounting software can help you save money and time? Most small-scale industries don’t consider accounting their priority, as they prioritize core tasks in the queue. However, accounting has become a priority for all small and big businesses as it integrates transparency and efficiency into the system. 

Most accounting software in India require subscription plans, which growing companies can’t afford. For small or growing businesses, it is important to on-board accounting and billing solutions that offer more features at minimal investment. So, here’s a list of low-cost accounting solutions for startups. 

5 Cost-efficient Accounting Software Choices for Startups In India

1. ZohoBooks: Top-notch Accounting and Billing Software for Growing Companies 

ZohoBooks is a comprehensive accounting software which is perfect for small businesses. The software is loaded with multiple features that ease financial management for your business. With its intuitive interface, ZohoBooks navigates the complexities of accounting and billing to a simplified process. 

This accounting software for startups is your gateway to understanding your finances through graphs and reports deeply. It assists you in working collectively to streamline bills and provide payment reminders that encourage faster payments. 

It can be integrated with multiple third-party applications and takes accounting to a new level. It is fully compliant with GST software for Indian enterprises. 

Generate GST returns and reports for GSTR-1, GSTR-3B, GSTR-4, and GSTR-9 filing. You don’t need to switch to the GST portal to file returns; you can do it from this online accounting software. 

ZohoBooks offers a free online accounting solution for Indian startups with a revenue of less than 25 Lakh rupees. It helps Indian enterprises create professional invoices and manage finances and warehouse operations. You can automatically import bank feeds and effortlessly create e-way bills for goods transfer. But it’s free plan has limitations. You need to subscribe to leverage additional features of ZohoBooks. 

Pricing Module: 

• Standard: Avail standard subscription module at Rs. 749/- month billed annually and get access for up to 3 users. 
• Professional: Get this package for Rs. 1499/- month billed annually and allow 5 users to log in from a single account. 
• Premium: This package is available for Rs. 2999/- month, billed annually for up to 10 users. 

2. Vyapar: One-stop Accounting Solution for 1Cr+ SMEs in India 

Vyapar offers accounting software for small businesses, streamlining their workflow and financial management. It helps you track payments, customize invoices, file returns, calculate taxes, track expenses, monitor warehouse operations, and create e-invoices and e-way bills. 

The software ensures timely collection and payments through cash flow management that tracks receivables and payables. To ensure accuracy, reconcile your bank statements and identify discrepancies. 

This cloud accounting software provides comprehensive reports that help you extract insights and analyze financial status for strategic decision-making. It also streamlines business tax management, automates GST computations, and facilitates easy return filing. 

Small-scale companies like hardware businesses, construction material businesses, and furniture businesses can use this accounting software for startups.

Let’s check out its pricing Module: 

Pricingfor 

• Silver Plan: Subscribe to Vyapar’s silver plan for Rs. 3239/ year and get access to its basic features. 
• Gold Plan: Register for Rs. 3599/ year and unlock access to its advanced features. 

3. Munim- Top-notch Accounting Software for Startups 

Munim is top-rated for Indian startups that offers billing, e-invoicing, accounting, bookkeeping, and much more at a single click. It is popular across the country for its reliable and cost-efficient accounting solution. Tailored for the needs of 15K+ businesses of every industry type and size, Munim is considered to be the best accounting software in India. 

Munim has an intuitive interface that makes it easy to use for anyone and everyone. It offers both desktop and cloud solutions to the users making it accessible from anywhere with internet access. 

Munim accounting software for startups offers a 14-day free trial and expert demo to get a clear understanding of how it benefits your business. It is a pocket-friendly accounting and billing software that follows pay as you grow the subscription module. 

Let’s checkout Munim’s pricing. 

Pricing 

• Basic Plan: ₹999/year per company, providing unlimited access to all features for one company and up to two users.
• Additional Company: ₹999/year for each additional company.
• Additional User: ₹300/year per additional user.
• Credits: Credits can be purchased at ₹1 per credit for additional features or services.

Thus, Munim is the most affordable online accounting and billing system for startups! 

4. GenieBooks: The best accounting and Billing Solution for Small Businesses

It is very easy to get started with GenieBooks accounting software for startups. Check out the process: 

• Login to Your GSTN portal and click on downloads
• Go to Accounting and billing software 
• Accept Yes and move ahead

You will be displayed with a list of accounting solutions enrolled by the GSTN and effortlessly register to GenieBooks for free. The GST regime demands invoicing to be at the core of every process and this online accounting software facilitates automated invoicing features to ease the process. Through complete sales and purchase cycles, it offers 100% compliance for startups at all times. 

Leading the edge over competitors, this next-gen accounting and billing solution offers a wide array of features to help businesses manage their finances. Business owners can also track and monitor their expenses to make informed decisions. 

If your startup company is registered with GSTN and your turnover is less than 1.5 crores, you can unlock zero-cost access to GenieBooks. 

Let’s check out its subscription module:

1. Orange: This is a free plan for those unsure about buying accounting software. Though it has limitations, it offers basic features to convince you that your startup needs a planned accounting system. 
2. Blue: This plan costs around Rs. 6,999/ year, permitting access to 1 admin user and 1 role-based user for basic features. 
3. Green: Buy this plan for Rs. 69,999 per year and unlock access to advanced features and those available in the Blue package. 
4. Black: This is a customized module where the team understands your requirements and offers accounting and billing software based on your needs. The pricing depends on the customizations and features added. 

5. MyBooks: A Complete Suite of Accounting Software for Startups 

MyBooks facilitates the gateway to more brilliant accounting and billing for small and mid-sized businesses. Leveraged by 16 countries worldwide, this intelligent accounting solution offers cloud accounting software for small and mid-sized businesses. Small businesses use MyBooks for effective and efficient financial management. 

It can be tailored to add or subtract industry-specific features for retail, textile, logistics, freelancers, wholesalers, hardware shops, etc. iOS, Android, and web users can leverage the free accounting software to streamline workflow. MyBooks’ simplified UI/ UX makes it easy to use for everyone. Even a beginner can access and use the software without any additional training. 

This accounting solution offers single-click invoicing, inventory management, multi-user login, multi-currency support, advanced reporting, and multi-business access. It is one of the best solutions for retailers, shopkeeprs, and other small businesses. Its barcode billing feature is an add-on to these businesses. 

Let’s check-out its Pricing

• Basic: Its basic plan is free, which permits 1 user and 1 company with limited inventory access. 
• Standard: Pay $4.99 per month and unlock access for 3 users, 100 transactions, and features that are not in the basic plan. 
• Premium: Pay $9.99 per month and allow 10 users with unlimited transactions and advanced features. 

Wrap Up 

Hopefully, this article has given you an overview of free accounting software for your Indian startup. If you have any Further queries, connect to our team. 

If you are looking for advanced accounting software, try Munim now! It is not only pocket-friendly but also unlocks access to unlimited features. 

FAQs 

1. How to choose the best free accounting software for your startup?

• Check for accessibility 
• Identify if the features match your requirements 
• Cross-check security protocols used 

2.  Can I get a free trial for Munim?  

Yes, you can get a 14-day free trial for Munim. 

3. Do I need special training for using Munim? 

No, Munim is easy to use and doesn’t require any special training. 

4. Does Munim offer a desktop solution? 

Yes, Munim has both cloud and desktop solutions, making accessing the files easier. 

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