With digital payments being all the rage in the current times, thanks to PM Narendra Modi’s ‘Digital India, there has been no dearth of e-payment gateways and online payment portals. There has been a recorded surge in digital payments in the year 2018 as compared to 2017.
In the era of artificial intelligence and virtual assistants like Siri and Alexa which makes all things possible, technology is proving to be nothing short of a magic wand! Catching up with all the billing software for small business, which helps you calculate the money that you spend! Sounds interesting, eh?
Read on to know all about billing software and how billing software for small business help them thrive!
What are Billing Softwares?
Billing software is created to handle time and billing tracking as well as invoicing customers for services and products. A few billing software also manage to track the hours worked by employees as well as the expenses associated with projects or clients.
Billing Softwares provide you collective data of the customer order entry, satisfaction and invoices given to the customer. One can easily analyze the data which is entered into the system on a daily basis and can easily measure the performance of the business.
Why are Billing Softwares used?
Keeping aside the fact they help make our crazy-busy lives easier, they perform the following functions:
- Preparing an invoice or bill format which is fixed, neat, professional, and error-free.
- The invoice prepared by them possesses a full description of the expenses that the customers have been charged for.
- Efficiently keep the accurate record of the customer and rates.
- Figure out which of their customers are the most regular & profitable.
- Maintain the status of being paid/unpaid.
- Maintain payment details which are received from a customer.
- Tracks the material receipts from a supplier.
- Tracks the material present i.e. inventory in your company.
- Improves the efficiency of the office staff.
Billing Software for small business
Billing Softwares, for the most part, would be beneficial to both large and small scale businesses. Some of the top rated ones are as follows:
1) Zoho Books
Zoho Books, the ‘Complete Online Billing Software,’ offers a complete billing solution for the business.
Right from managing invoices, to sending payment reminders, to getting paid online, Zoho Invoice possesses all the features required to manage online billing efficiently.
It supports easy billing by both creating and selling bills with Zoho Invoice only with the help of a few clicks. Popular among startups as well, and rightly so, as it lets one personalize the bills and build their respective brands.
Tax handling can also be pushed against it and you can sit back easily – Zoho will handle it all. Multi-currency billing, multi-lingual billing, recurring billing and business reports, you name it and Zoho has it!
The overall user satisfaction with Zoho Books is 100% as users find it very affordable and convenient, however, the lack of access to a PayRoll feature and fewer third-party integration apps than its competitors count as its cons.
The pricing for Zoho is ₹ 2,499 Per Year
Just like its’ tagline says, it is business-oriented and therefore, would be a really helpful billing software for small business. Replicon, Inc. is a software company which provides cloud time tracking applications including timesheet and expense management software, using SaaS, for automating employee time tracking, project time tracking, expense tracking and resource scheduling.
Replicon’s product suite contains features like TimeBill, TimeCost, TimeAttend, TimeOff and WebExpense. It also has a cloud-based time clock solution called “CloudClock.’
The TimeBill and TimeCost feature of Replicon allows users to track time against projects, enter billable and non-billable time, and compare expected revenue to the total cost of the project.
It includes Promax, a feature which was previously simply an add-on and is designed to help managers set productivity goals for employees, contract workers, projects teams, and departments.
It also provides the managers and employees instant access to both billable hours across multiple projects, alongside productivity rates for individuals and entire departments.
The Replicon TimeAttend module allows users to track time off, adjust payroll based on overtime calculations, and set up limits for minimum or maximum time submissions. The WebResource tool permits employee management through employee tracking, skills assignment, and resource and project forecasting
In a nutshell, since Replicon states its mission as ‘helping businesses capture, manage and optimize their most important asset, time, to successfully grow their organizations, ‘ we can safely assess that it would surely be a boon in the form of billing software for small business.
3) BUSY Accounting Software
It is the complete accounting software for Small and Medium businesses (SMEs). It has been allowing SMEs across geographies, industry verticals and customer division such as FMCG, Retail, Trading, Manufacturing, Distribution and Service by helping them manage their business efficiently. Sounds like a one-stop solution for all your needs, right?
It has a simple and intuitive user-interface and will surely provide blanket coverage to all your business needs. With a flexible configuration and customization, it provides enhanced control over the business with 100+ reports.
Key features of BUSY include Multi-Company Accounting, Multi-Location Inventory Management, Enquiry / Support Management, GST-ready, User-configurable Documents, Payroll Management, Web-based reporting and MIS Reports & Analysis.
BUSY is priced at 7,200 Per Year for the Basic version, ₹ 13,500 Per Year for Standard version and ₹19,800 Per Year for Enterprise version.
ClearTax is a cloud-based GST Software which helps create a sync between working offline and backup on connectivity with the internet, thus eliminating worries about internet connectivity. Notably, a user requires no additional efforts to update the software. Available as an offline software on system / mobile app, mobile website / desktop website; it does not require a desktop for installation.
Key features of ClearTax include Inventory Management, Tax and Sales Tax Management, Billing and Invoicing, generation of VAT/CST/GST reports, Data Security & Accuracy, Transaction Tracking and E-Way Bill Generation among others.
There is Free Trial available for those who would like to try out ClearTax. It caters to the typical customers like SMEs, Agencies, Enterprises is the perfect billing software for small business. It runs on an Android platform for mobiles and Web App and Windows operations system.
Priced at Rs. 6500 for businesses, it supports monthly payments only.
5) Tally. ERP 9
Tally is famous for its accounting prowess through ages. On Tally, one can accurately plan purchases, manage working capital and improve cash flow for organisations. It also allows one to keep a check on expenditures, handle exceptions in business processes and manage financials in a better fashion.
Tally is an on-premise accounting solution which caters primarily to small and mid-size businesses spanning across several industries. It provides business functionalities including accounting, finance, inventory, sales, purchase, point-of-sales, manufacturing, job costing, payroll and branch management.
The accounting module of Tally enables support tasks like voucher management, reminder letters and bank reconciliation and provides a dashboard to track business ratios. The sales module records receivables, payables, billing and invoicing and tracks orders.
Tally’s inventory capabilities support manufacturers, distributors and traders in stock accounting, whereas cash flow is managed through the MIS reporting module to facilitate decisions regarding bank loans, credit limits and capital investments. The payroll management feature handles payslip generation, salary revision and arrears calculation. Tally’s remote functionalities enable data collaboration between multiple systems.
Despite the aforementioned features, Tally. ERP 9 is said to be not too user-friendly, with no useful upgrades and a single window software. The customisation of Tally is very limited and the support system of this software is not up to the mark.
Tally.ERP 9 is priced at Rs. 18,000 for Silver Edition and Rs. 54,000 for Gold Edition.
QuickBooks Online is a web-based accounting solution which caters to individual accountants and small businesses. The solution helps with bank reconciliation, tracking expenses, drafting invoices and monitoring financial reports, among others.
It enables users to both download and reconcile credit card transactions and allows businesses to organize weekly timesheets and track bank deposits. Users can also take tale photos of bills and submit them as expense proofs or share with the concerned stakeholders.
QuickBooks solution offers customizable templates which can be branded with the business logo and the desired field to generate invoices, bills and reports. The solution is also helpful for generating various financial reports such as profit and loss, balance sheet, cash flow statements and more.
QuickBooks Online also allows importing data from integrated applications such as Paypal, American Express and Square. Other features include creating recruiting invoices, sending payment receipts online, configuring rules for payment reminders and tracking receivables.
QuickBooks has quite a few hands-on features which make it a very useful product. It garners praises especially for its mobility, over 590+ integrations and for its full-featured accounting software options around. However, poor customer service is said to be its biggest con by far, besides being expensive than its counterparts and having various bugs and crashes reported for the same.
Priced at ₹1,500/Year inclusive of GST, it is said to have everything needed to run a business, and our guess is that it will surely be a useful billing software for small business.
Vyapar, as the name signifies, is designed exclusively for ‘Vyaparis’ (businessmen) to solve their small business needs. It is one of the simplest business accounting and inventory management software apps available in the market today.
Vyapar is aimed to ease tasks for people who run their own business and have to keep records but are not very well-versed with technology and accounting.
The software offers an intuitive and seamless experience for users, who can start invoicing as soon as they sign up. All tasks will be done in the blink of an eye such as online invoicing, billing, reconciling bank accounts, reports extraction etc.
The software also offers automation tools to make accounting as easy as possible. Automatic Payment reminders can be set so that users can sit back and relax without worrying about the invoice getting paid on time. It is a GST app and works perfectly fine even offline.
Vyapar’s beautiful dashboard optimizes the way software is used. Users can get a quick glimpse of their finances as soon as they login into their accounts. In this Digital India era, you must use Vyapar to make your business smarter and be ‘Digital.’
It is available in both Desktop/ PC version and Mobile and is priced at Rs. 2499 per year.
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8) HDPOS Smart
HDPOS smart is a cloud-based billing solution, catering to retail shops including fashion, electronics, sports and books. Its’ primary features include billing, tax management, inventory management, barcode printing and reporting and financial accounting.
HDPOS Smart is designed to automate retail billing and is efficient at handling inventory and financial accounting along with billing. HDPOS smart can be employed in all type of business setups starting from single store locations to large businesses with multiple stores and departments.
HDPOS Smart also helps in Data Analytics and can define various different views of the product catalogue and helps in view business data in various different hierarchies and at various granular levels.
HDPOS smart is priced per terminal, is Windows-compatible and suggests an app for Android and Windows phones. The customer service is offered via email, over the phone, via Whatsapp and Skype. Other options include video and PDF tutorials, blogs and database.
HDPOS Smart is priced at Rs. 19, 500.
Sleek Bill is one of the fastest billing and invoicing software solutions designed for Indian small businesses. It offers tax management, multiple invoice templates, stocks and much more. It easily creates invoices, quotations, proformas and challans.
SleekBill has a sleek interface design which helps in creating beautiful invoices, including the relevant applicable taxes, etc. The software helps bring in efficiency in operations as it is fast and time-saving and adapts to the user’s needs. Other than creating beautiful invoices, users can generate Quick and detailed reports, backup/restore data, print/e-mail invoices and can be configured on all PCs.
Key features include Banking Integration, Expense Management, generation of Invoice, Product Database, Quotation & Estimates, Invoice Designer, Accounting, Customer Management, Inventory Management, Payment Handling, Supplier and Purchase Order Management and Taxation Management.
SleekBill is priced at Rs. 1,999.
10) MARG ERP 9+
It is an on-premise ERP solution generally used by small, midsize and enterprise businesses. It offers a variety of modules customized to the needs of retailers, distributors and manufacturers in a variety of industries. The solution offers android apps for customers, store owners and suppliers.
MARG ERP9+ modules include order management, purchase management, production planning and costing and inventory management, besides offering distribution module for multiple industries, including pharmacy.
The Retail module for MARG ERP9+ includes inventory management, reporting, integrations with e-commerce platforms, touch POS, barcode scanners and integrations with logistics platforms. Other key features include a financial account with IT-ST auditors’ reports, multi-location inventory management, operator wise powers and boundations, challan and counter sales and currency symbols. Pricing starts at Rs. 7, 200.
Own a small business? Or planning to start one? Go figure a billing software for your small business and you will be good to go!
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