Billing and invoicing are integral parts of managing any business, especially for small and medium-sized enterprises (SMEs). Proper invoicing ensures accurate cash flow management, improves financial tracking, and provides a professional image to clients. In fact, more than 90% of SMEs consider streamlined invoicing to be crucial for their operations.

As SMEs across India continue to digitize their financial processes, the demand for invoicing software in India has surged. Many businesses are shifting to automated solutions that save time, reduce manual errors, and ensure compliance with Indian tax regulations, including GST.

Here, we list the Top 10 Billing and Invoicing Software for SMEs that can help streamline your invoicing process.

1. Zoho Invoice

Zoho Invoice is a comprehensive invoicing software designed for SMEs, offering an intuitive interface and a wide range of customizable features.

• Key Features:

  • Create and send invoices in multiple currencies.

  • Automate recurring invoices, payment reminders, and workflows.

  • Integrated with Zoho Books for seamless accounting.

• Best For: Small businesses that need customizable invoicing and billing solutions.

• Statistics: Zoho has over 50 million users globally, making it one of the most widely used invoicing tools in India. A popular choice for those searching for invoicing software in India.

2. QuickBooks

QuickBooks offers a versatile platform for small businesses, integrating both accounting and invoicing functionalities.

• Key Features:

  • Create, track, and send invoices from any device.

  • Manage GST compliance and get automated tax calculations.

  • Accept payments via multiple methods, including credit cards and bank transfers.

• Best For: SMEs looking for an all-in-one accounting and invoicing solution.

• Statistics: QuickBooks is used by over 7 million small businesses worldwide and is particularly favored in India for its GST invoicing features.

3. FreshBooks

FreshBooks is a cloud-based billing and invoicing solution that is particularly useful for service-based businesses and freelancers.

• Key Features:

  • Easily create professional invoices, and track the status of payments.

  • Integration with time-tracking and project management tools.

  • Set up automated payment reminders and late fees.

• Best For: Freelancers and small businesses that require time tracking along with invoicing.

• Statistics: FreshBooks is trusted by over 30 million users worldwide for its simple yet effective invoicing capabilities.

4. Tally Solutions

Tally is one of the most trusted accounting software brands in India, and its invoicing capabilities are well-suited for Indian SMEs.

• Key Features:

  • Create GST-compliant invoices and manage tax reporting.

  • Integrated accounting and financial management features.

  • Multiple language support and robust customer service.

• Best For: SMEs seeking a localized solution for invoicing software in India.

• Statistics: Tally is used by over 2 million businesses in India for its accounting and invoicing features.

5. Wave

Wave is a free invoicing and accounting software designed for small businesses, offering a seamless and intuitive experience.

• Key Features:

  • Generate and send unlimited invoices for free.

  • Track invoice statuses and set automatic reminders.

  • Accept payments through credit cards and bank transfers.

• Best For: SMEs and startups looking for a free invoicing tool with essential features.

• Statistics: Wave has over 2 million users globally, with a strong presence among startups in India.

6. Invoice Ninja

Invoice Ninja is an open-source platform that offers a feature-rich invoicing and billing solution for small businesses.

• Key Features:

  • Create unlimited invoices, and accept payments via PayPal, Stripe, and other gateways.

  • Customizable invoice templates and client management tools.

  • Integrated time tracking for service-based businesses.

• Best For: SMEs and freelancers who need highly customizable invoicing software.

• Statistics: Invoice Ninja is used by over 150,000 businesses globally for invoicing and billing solutions.

7. Xero

Xero is an accounting software that also offers robust billing and invoicing features for small businesses.

• Key Features:

  • Create and send invoices, track payments, and manage receivables.

  • Integrate with over 800 apps, including CRM and payment gateways.

  • Real-time collaboration with your accountant or bookkeeper.

• Best For: SMEs looking for a seamless blend of invoicing and accounting.

• Statistics: Xero has more than 3.5 million subscribers worldwide, with many users in India appreciating its GST invoicing capabilities.

8. HisabKitab.co

HisabKitab.co is an invoicing software in India tailored specifically for Indian SMEs, providing an easy-to-use interface with all necessary local compliance features.

• Key Features:

  • GST-compliant invoices and integrated tax management.

  • Track payment statuses and send automatic payment reminders.

  • Supports multi-currency invoicing and various payment options.

• Best For: Indian SMEs looking for a localized invoicing solution.

• Statistics: HisabKitab.co has seen a 20% growth in user adoption in the past year due to its India-specific invoicing features.

9. Bill.com

Bill.com simplifies billing and invoicing for small businesses, offering automation and integration with leading accounting platforms.

• Key Features:

  • Automate accounts payable and receivable processes.

  • Send electronic invoices and accept digital payments.

  • Integration with QuickBooks, Xero, and other accounting tools.

• Best For: SMEs looking to automate billing and invoicing alongside accounts management.

• Statistics: Bill.com processes over $100 billion in transactions annually, with a growing presence in India.

10. Vyapar

Vyapar is another invoicing software in India that is specifically designed for Indian businesses, offering robust GST invoicing and accounting features.

• Key Features:

  • GST-compliant invoicing, automated tax calculations, and tax reporting.

  • Offline invoicing, ideal for businesses without consistent internet access.

  • Integrated inventory and accounting features.

• Best For: Indian SMEs and retailers needing both accounting and invoicing in one solution.

• Statistics: Vyapar has over 5 million downloads and is one of the most popular billing software solutions for small businesses in India.

Conclusion

Selecting the right invoicing software is crucial for SMEs to manage cash flow efficiently, streamline billing, and ensure compliance with tax regulations like GST. Whether you're looking for a free tool like Wave, an India-specific solution like HisabKitab.co, or a globally trusted brand like QuickBooks, the tools listed above provide the best options for SMEs. With the growing importance of invoicing software in India, these solutions are designed to cater to the unique needs of Indian businesses, helping them manage invoicing and billing with ease.