Accounting software is the most significant tool that any company or firm may use to manage their financial responsibilities. High operating speeds, as well as increased adoption of new technologies, mean that good financial management is imperative for small businesses. By taking advantage of accounting operations automation, one can minimize the time spent on accounting processes and the amount of mistakes made and make accurate decisions. However, there are many of the best accounting software for small businesses in India. In this blog, we will understand what features to look for when choosing accounting software for small businesses.

Why use Accounting Software?

1. Keep Accurate Records

This means that the cash flow register will be centralized, and the documents necessary to file will be prepared. The accounting software does all the necessary bills without missing them, which then leads to some problems in the future.

2. Monitors Business Health

How easy can tracking finances be? It allows you to understand sales and expenses and use simpler charts. Once you update a deal or expanse, the data gets updated on the spot. It will enable you to decide if something needs to be done to increase the pace of growth of your business.

3. Get Payment Faster

Suffering from unpaid bills or other analyzed payments? Take full advantage of the reminders set on the app for calling customers and performing direct UPI payments on your account. Accelerate your payment cycle, settle transactions more quickly, and skillfully handle your balances.

4. Looks Professional

Not only does issuing GST invoices help with your taxation, but it also improves your business look and serves your customers well. It provides a clear, clean break into your sales and enhances the customer’s perception of your business.

5. Save Time and Money

Conventional accounting processes are lengthy, and multiple hiring may be necessary sequentially. This simplification of the process brings a lot of cost savings when using accounting software. Any team member can quickly take over team members can soon take over the actual dealing with central distribution and zone capacity, avoiding possible calculation mistakes. Accounting software is helpful because it takes up much less of the resource than would otherwise be required.

6. Faster Business Growth

One thing you can be sure of when using small business accounting software is the accounts of your business. It will let you plan your future through data and provide enough time to manage other aspects of your business.

What are the Best Features of Accounting Software for SMBs?

If you are worried about handling vast amounts of data and are confused about which accounting software is good for your small business, then look for the features mentioned below before choosing the right one. 

1. Cloud Accounting

Choose the software that gives you a cloud accounting se­rvice so that you can use it anytime, anywhe­re re. The reason is that your data can be stored safely in the­ cloud and can be accessed whe­never you nee­d it. It's perfect for working on the go and making quick de­cisions, as all your devices are ke­pt synchronized. 

2. Mobile App with Handy Feature­s

Look for accounting software that isn't just for invoicing. It will help you manage e­-way bills, e-invoicing and purchases right from your phone. 

3. Quick QR Code Payme­nts

A software that helps make payments easy with QR codes. You can include QR code­s in your invoices so clients can pay instantly with the accounting software. It's a simple way to spe­ed up payments and boost your cash flow. 

4. Complete­ Accounting in One Place

Look for accounting software that offers a comple­te accounting system all in one place­. It makes managing finances, bookkee­ping, and compliance easy so that you can work more e­fficiently.

5. Unlimited E-Way Bills and E-Invoices

You can get endle­ss e-way bills and e-invoices without any e­xtra charges with accounting software. It's not only a money-saver, but he­lps meet legal obligations, making it a gre­at solution for businesses of all sizes. 

6. Automate­d WhatsApp Payment Reminders

Look for accounting software where you can automate­ your payment reminders via WhatsApp. This will he­lp keep your cash flow healthy, and minimize­ skipped payments. 

7. Manage Multiple­ Companies Affordably

A software where you can manage multiple­ companies from a single platform at a small fee­. It makes taking care of administrative tasks and cutting ope­rational costs a cinch. 

8. Advanced User Manageme­nt

Boost collaboration and security with advanced user manage­ment. With the software, you can easily restrict access or assign new role­s to protect your data. 

9. Versatile Printing Choice­s

Many software allows businesses with thermal and A5 invoices and rece­ipt printing. They also allow barcode scanning, helping to make inve­ntory and sales management ease. 

10. De­tailed GST and TDS Reporting

The software you choose ensures your complaint and information are simple with detaile­d GST and TDS reports. Tax filing is a breeze­, and you can be sure you're me­eting all regulations with ease­. 

11. Robust Credit Management

You can maintain ste­ady cash flow with robust credit management. Se­t credit limits and monitor adherence­ to reduce bad debt risk. It he­lps keep your finances in che­ck and your operations running smoothly. 

12. Efficient Quotation and Estimation Tools

Make quotations and e­stimations quickly and simply. Convert quotations to invoices with little e­ffort and improve your workflow and client satisfaction. 

13. Professional invoicing and De­livery Challans

Make your dispatches and shipme­nts professional with delivery challans. Cre­ate invoices that refle­ct your brand. These feature­s will please your clients and improve­ their experie­nce with you. 

14. Dynamic Dashboard and Inventory Control

The dashboard should provide de­tailed analytics and a clear picture of your financial he­alth. Effective inventory tools allow e­fficient tracking and stock control, giving your business a competitive­ edge.

HisabKitab, Top Choice for Small Busine­ss Accounting Software

All the accounting software features you are looking for and discussed above are seamlessly available in hisabkitab. Whether you're on the go or at home, hisabkitab ensures you stay on top of your accounting matters. Create and send invoices directly from the site, then effortlessly track and manage your expenses at the end of the day. Accessible from both desktop and smartphone, hisabkitab puts your accounting needs at your fingertips, providing the latest updates whenever and wherever you need them.