Accounting Software Like QuickBooks: What Are the Alternatives?

If you drill down the accounting software market in India, it is growing at a remarkable pace. And there are a number of software choices out there. However, only a few are chosen by businesses. One of the software that Indian businesses prefer for their accounting needs is QuickBooks.

Intuit QuickBooks is an exceptional accounting tool that provides a plethora of remarkable features to its users. It aligns perfectly with the modern-day accounting needs of a business with its features like data encryption, tax compliance, automation features, etc.

The best thing is that it is fit for all types of businesses. Now, whether you choose QuickBooks or not, there are certain things that you need to consider before opting for an accounting tool. Let’s dive into those factors and uncover some accounting software like QuickBooks.

Why do Businesses in India Use QuickBooks?

QuickBooks is a cloud software that is used by most of the SMEs in India. Here are some of the reasons for the same.

1. Easy to install: Actually, there is no explicit need to install the QuickBooks software on your device. As it is cloud-based, you just need a web browser like Chrome or Firefox to access it. It saves a lot of time and investment in offline infrastructure.
2. Mobile app availability: Today, if you have a business app, nothing can stop your business from going. QuickBooks is available in the form of a mobile app, which is why it can be accessed from anywhere.
3. Third-party app integrations: As a business might be using a lot of tools for managing various workflows, QuickBooks assists here. QuickBooks allows businesses to integrate third-party apps into the tool for extended functionality, such as Shopify, Woocommerce, Etsy, etc.
4. It is secure: With QuickBooks, you don’t have to worry about data security. The software provides top-notch security features, including data encryption, secure servers, periodic offline backup, and access control based on permission levels.
5. A diverse set of features: QuickBooks can help you manage numerous tasks related to a business, such as invoicing, expenses, bank reconciliations, tax management, inventory management, etc.
6. Affordable: Affordability is a serious aspect to consider when working in the Indian market. Thankfully, QuickBooks wins on this side, too. With all the relevant features, QuickBooks is charged at a minimum rate of 840 INR per month. If you opt for the Essentials, Plus, or Advanced plan, the price goes up.

Alternatives to QuickBooks

While accounting software like QuickBooks is best for all types of businesses, especially SMEs. But if you want to, you can go for the alternative to QuickBooks. And frankly speaking, there are many of them on the market.

Here is an overview of accounting software alternatives like QuickBooks!

1. Mocha Accounting

Mocha accounting is at the top of the list because of a number of reasons. The number one reason is its price factor. While free software may possess the risk of data theft and limited features, Mocha accounting software provides you with a limited period free trial at no risk at all.

Furthermore, the pricing factor is as competitive as QuickBooks. Here are some other cool features of Mocha accounting software.

• Encryption and other security features: Mocha ensures the safety and integrity of your financial data. The software provides cutting-edge encryption features, data backup, and secure server storage.
• Regular software updates: The software is updated on a periodic basis with new features and functionality. Hence, advanced functionalities at no extra cost. And as it is a SaaS software, there is no need to update it manually.
• Powerful built-in features: Mocha accounting ensures the accuracy and efficiency of various accounting processes with its remarkable features, such as bank reconciliation, invoicing, expense tracking, multi-user collaboration, finance reporting, etc. You can level up your accounting game with these user-friendly features and seamless automation.
• Resources: Some accounting software can be tough to get your hands on. But, it is not the same with Mocha. Mocha is easily available and comes with resources, such as videos and articles that can help you set it up and use it for various accounting tasks.
• Pricing: The pricing factor of Mocha accounting software is quite alluring. First of all, it offers you a free demo version for some time where you can try it to check its functionalities. Furthermore, it has three plans with quite affordable pricing, beginning from 840 INR per month.

2. Marg

Marg is an Indian accounting software that lets business seamlessly handle their accounting tasks by automating them. Its ingenious features elevate the performance by reducing the risk of accounting errors.

Here are some of the primary features of Marg!

• GST-ready invoicing: With Marg, you don’t have to worry about GST compliance. The software helps you generate GST-compliant invoices while allowing you to track invoice payments and send payment reminders. The shortcuts and advanced features of the software improve billing speed by 40%.
• Tax filing: The Marg Accounting software simplifies the process of tax filing for businesses. It provides a simple interface to file an error-free TDS/ TCS filing as per the norms set by TRACES and CPC.
• Data security: Marg is packed with robust security features intended to ensure data security and integrity. It has a highly encrypted 7 Layer Data & Ransomware password protection system. Furthermore, it provides user access rights management and data restore facility features.
• Online banking: Manage all your banking needs via the Marg software. You can import your bank statements and manage your transactions, such as NEFT, RTGS, etc., from the tool itself. Moreover, you can also leverage auto bank reconciliation features.
• Reporting features: Marg provides you with advanced reporting features where you can easily share reports with the team, schedule them, and even customize the reports.

3. Zoho Books

Zoho Books is an accounting software that is counted among the best software worldwide. Zoho Books is a part of a collection of tools that Zoho provides. Packed with stunning accounting features, Zoho is used by over 36,0000 live websites currently. Moreover, around 1400 websites in India use Zoho Books.

Here are some features that make Zoho incredibly demanding!

• Workflow automation: One of the best features of Zoho Books is workflow automation. Zoho Books helps you handle monotonous and high-volume tasks, such as auto-charging payment cards and creating bills and invoices from quotes and purchase orders.
• Scalability: Zoho helps you manage books beyond borders. The tool provides the ability to manage vendors across the globe via the right language, the right currency, and the right format in transactions.
• Collaboration features: Unlike most tools, Zoho Books provides you with collaboration features where you can communicate with your vendors in a dedicated portal. Plus, the tool has a dedicated self-service portal for customers where they can accept quotes and make payments.
• Integrations: Your business can elevate its accounting operations with the help of Zoho Books integration features. The software allows you to use several types of integrations to boost your business operations, such as payment gateways, CRMs, analytics, project management, etc. You can choose from Uber for business, Slack, Zapier, Google Workspace, and all the tools that Zoho provides.
• Security: The world-class tools have robust security aspects. For example, with Zoho Books, you can encrypt user data and set access permissions to ensure data security and integrity. In addition, the tool has a tamper-proof audit trial feature, which allows you to track transactions and check activity.

4. Tally

The last on the list of accounting software like QuickBooks is Tally. Tally is by far one of the most popular accounting software used in India. With a market share of 80% in India and supporting over 20 lakh businesses in 100 countries, Tally is one of the primes of the accounting world.

Here are some of its features!

• Diverse management: Tally helps you manage multiple branches of your company with the same license. Users can see the financial status of all the companies in the consolidated reports, providing flexibility and convenience.
• Business reports: Tally enables business owners to make critical business decisions by providing interactive and detailed reports. Business owners can check balance sheets, profit and loss statements, cash flow, item-wise profit and loss, etc.
• GST compliance: With Tally, you can enjoy simple GST return filing via complete support for GSTR-1, 2, and 3B. It also helps you in handling reverse charge GST scenarios and advances. You can send reports of missing and mismatched GSTs.
• Robust security: Tally Vault password encryption ensures authorized data access. Further, the user-level access control ensures data access based on defined conditions. The tool also provides periodic data backups in case of data loss or system failure.
• Inventory management: With Tally, you can seamlessly manage your inventory with stock status reports, track multiple godowns, create and manage price lists, manage out-of-stock items, etc.

Accounting Software Like QuickBooks | Comparison Table

Pricing and Customer Support Analysis

While these features are lucrative, QuickBooks is a software that also offers excellent customer support. Here is a quick analysis of the same!

Conclusion

How about an accounting software like QuickBooks that has all the required features, and you get to try it before committing? It may seem odd, but there is a choice that you can make. While most accounting software like QuickBooks, including QuickBooks, comes without a free trial, Mocha accounting stands out from these.

The software has all the necessary features that can match the utility of other tools while offering the choice of a free demo. Moreover, even the paid versions of the tool are affordable for SMEs. If you want to try Mocha accounting, get your free demo here!