Business organizations venture a long way to understand the complex Goods and Services Tax (GST) system, a struggle each one faces. Businesses now consider compliant accounting software as an indispensable tool because it has made GST compliance operations easier along with automation of calculations, which gives light to maintaining accurate records. This paper discusses the features and functions of GST-compliant accounting software, followed by a selection guide through the analysis of fifteen popular available solutions. Business owners will have to understand the deep concepts of GST accounting software, and this article has given simplified knowledge of the entire methodology.
Key GST-Compliant Accounting Software Features:
These functions are mainly the functions that characterize GST-compliance accounting software to ensure GST compliance by businesses.
- Generating GST Invoices: This software generates GST invoices by calculating all taxes correctly and providing proper HSN/SAC codes and other required details.
- GSTR-1, GSTR-3, B, and GSTR-9, etc.: The software lets the user generate and upload multiple GST returns promptly.
- Input Tax Credit (ITC) Management An excellent ITC management platform is made available to businesses to optimize their tax benefits.
- E-way Bill Generation: The creation of an e-way bill is essential by the software for legal purposes in the transferring of goods.
- Real-time GST Updates: The software is updated in real-time about any changes that happen in GST rules.
- Data Security: Advanced data security-enabled software secures safe and secure means of safeguarding your financial records.
- Integration with Other Systems: Integration of the software will allow seamless communication between other programs regarding e-commerce applications and payment gateway systems.
- Reporting and Analytics: It aids in more informed business decisions through the ability of the software to generate critical reports analyzing GST transactions along with sales and purchases data.
15 Best GST-Compliant Accounting Software Solutions
1. Gen GST Online Software by SAG Infotech
Rating: 4.8/5
Website: saginfotech.com/gst-software.aspx
Gen GST Online Software is a total GST solution with two deployment options for desktop and cloud variants. The software handles unlimited return filing and customer management, further benefiting companies with growing operations. The software is built on Java technology for security solutions for any operating system and cross-platform functionality.
Key Features:
- Multi-Platform Compatibility: The solution goes unhindered between desktop and cloud systems for flexible platform access.
- Complete Return Filing: All forms of GST returns can be filed by the users through this software, GSTR-3B, GSTR-4, and annual returns.
- Advanced Invoice Management: E-way bill integration allows for built-in invoice format while keeping validations intact during invoice creation.
Pros:
- Unlimited filing for customers and returns
- Strong security system
- Excellent support services
Cons:
- Higher costs for advanced features
- A stable internet connection is required for working with the cloud version
Ideal For: Medium to large enterprises, CA firms, and tax professionals
Pricing: Starting from INR 5,000/year
2. TallyPrime
Rating: 4.8/5
Website: www.tallysolutions.com
TallyPrime is an accounting solution that is very well configured to help big to small businesses in every kind of GSTR compliance and keep the journey of finance smooth. The software easily enables the generation of GST invoices automatically while real-time reporting plus tax return submission aids in a smooth ride through tax compliance. A very intuitive interface takes one safely through the application, while its powerful features of e-way bill generation, banking reconciliation, and inventory control enable businesses to run more efficiently.
Key Features:
- Automated GST filing: Auto generation of GST returns and computation.
- E-way bill generation: The built functionality allows a user to generate E-way bills.
- Banks and reconciliation: Sync transactions with bank statements for validation.
Pros
- The trusted and popular tool.
- Fast and extensive reporting tools
- Works in an offline and online mode
Cons
- The cost is high for advanced features.
- Limited mobile application.
Ideal For: Best suited for Small to large enterprises looking for a robust GST solution.
Pricing: Starting at ₹9,000+ GST per year.
3. ClearTax GST Software
Rating: 4.6/5
Website: https://cleartax.in/gst
The ClearTax GST Software is defined as a high-performance, GST GST-compliant accounting Software system on which accurate accounting functionality is dependent. The security and compliance level is on par with enterprise levels, backed by SOC 2 certificate from GST Suvidha Provider. The AI-based matching system reaches an impressive 6000 invoices processed every minute, making it perfect for someone who does high volumes of business transactions. Companies can essentially maximize the tax advantages available by claiming ITC automatically with various interfaces they can seamlessly integrate with other ERPs within ClearTax GST Software.
Key Features:
- AI-Based Reconciliation: Using advanced mathematical models, the system performs very fast invoice matching in a highly accurate manner.
- Multi-ERP Integration: Smooth integration with as many as 100 ERP systems
- Advanced Analytics: Approved Tax and audit methods offered with the system are meant to enable the business user to achieve many smart analytics reports for decision-making
Pros:
- SOC 2 and SSL certified security 100% ITC claim assistance
- Real-time error detection and validation.
Cons:
- Difficult for a new user to work around
- Requires stable internet connection
Ideal For: Large enterprises and businesses with high transaction volumes
Pricing: Custom pricing based on business requirements
4. Zoho GST Software
Rating: 4/5
Website: https://www.zoho.com/in/books/gst-accounting-software/
Zoho GST Software possesses robust features to stand out as an Accounting Software for GST compliance that integrates well with the other management tools provided by Zoho. These features enable the Zoho GST Software to bring its users full control over compliance management invoice creation to return submissions. Storing data on their cloud-based system gives users remote access, while great security covers confidential financial information. The fact that this software is very easy to use and has automated reconciliation functionalities in-built is by far the most important reason why users prefer this software for reducing the tricky GST management task.
Key Features:
- End-to-End Compliance: Every kind of GST returns procedure gets automatically fulfilled by the system.
- Smart Reconciliation: Automatic matching of purchase transactions
- Collaborative Platform: Team members are granted role-based access control
Pros:
- Easy to use
- Reporting at a complete spectrum
- Nice and accessible on the mobile
Cons:
- The full access comes only with a subscription to the Zoho Books software
- Limited Offline Functionalities.
Ideal For: Small to medium businesses looking for integrated business solutions
Pricing: Starts at INR 899/month (monthly plan) or INR 749/month (annual plan)
5. QuickBooks GST Software
Rating: 4.5/5
Website: https://quickbooks.intuit.com/global/gst-vat-tracking/
QuickBooks GST Software is the best GST Compliant Accounting Software, which offers both robust features for accounting as well as complete compliance with GST. It has many advantages, like constant monitoring of business performance and automating most of its processes. GST compliance is made very simple by HSN/SAC codes linked with automatic tax rate calculation. This software helps business owners access their accounts from any place over multiple devices with real-time synchronization.
Key Features:
- Automated HSN/SAC Integration: Effortless product and service code management
- Real-Time Tax Calculation: Automatic application of tax rates and computation of liabilities
- Multi-App Integration: Seamless integration with leading business applications
Pros:
- Easy-to-use interface
- Comprehensive mobile app
- Strong customer service
Cons:
- More costs than the competitors in the local market.
- Most features require Internet dependency and fallacy.
Ideal For: Small to medium businesses seeking international standard software
Pricing: Starts at INR 529/month
6. Vyapar GST Software
Rating: 4.7/5
Website: https://vyaparapp.in/
The Vyapar GST Software is a reasonably priced robust GST accounting software specifically designed for Indian SMEs. It provides all solutions in an easy way concerning inventory management and billing, along with full compliance with the GST. It is one-of-a-kind because- it works online as well as with a light framework that suits only minimal infrastructure for business operations. Business management on the desktop and mobile solution is made possible through its system.
Key Features:
- Offline Functionality: Facility to operate almost all functions without Internet
- Integrated Inventory Management: Alerts to timely stock availability
- Multiple Business Location Support: Central management of multiple stores
Pros:
- Cheapest price structure
- Simple and intuitive interface
- Very minimal system requirement
Cons:
- Very basic reporting functions
- The number of multi-users is fairly limited.
Ideal For: Small businesses and retail shops
Pricing: Starts at INR 4000/Year with lifetime basic usage option
7. Marg GST Software
Rating: 4.9/5
Website: https://margcompusoft.com/
Marg GST software happens to be a tax-compliant complete accounting software that knows how to complement one’s automation with the highest operational efficiency. A new feature of this software is its innovative barcode system and new shortcut options that speed up processing by 40% compared to previous versions of the software. It has almost everything to create GST invoices and carry out all transactions while ensuring smooth GSTN connectivity. GSTR-2A reconciliation on the platform is what differentiates it from other products because this feature does not call for direct portal authentication to perform this function.
Key Features:
- Automated Reconciliation: Integrated with the GSTR-2A automatic reconciliation system, this application instantly matches purchase bills with just a click.
- Advanced E-invoicing: B2B transactions would be authenticated directly from the IRP.
- Internal Audit System: The framework embedded within the system confirms data reliability at every level.
Pros:
- All requirements of complete compliance checks.
- Barcode integration made easy.
- Strong data validation.
Cons:
- More capital is initially needed.
- Setting up is quite complex.
Ideal For: Medium to large enterprises requiring robust compliance features
Pricing: Starts at INR 8,100 for single users
8. HostBooks GST Software
Rating: 4.7/5
Website: https://www.hostbooks.com/in/hb/gst-software/
Any organization that looks for a compliant GST solution with efficiency can achieve this with the working of HostBooks GST Software listed by NSDL through cloud technology. The platform is well-received by customers who have commended the automated calculations and industry-specific billing templates. The software is cloud-based, which ensures ease of access through secure means. This software shows its worth to an efficiency-oriented company through automated matching and reconciliation of invoices, thus making it a good choice for compliance tracking.
Key Features:
- Cloud-Based Architecture: Unlimited availability every hour with secure data storage for the entire duration of your operation.
- Automated ITC Management: Automatic calculation of input tax credit and liability.
- Multi-Template System: Industry-specific customizable billing templates.
Pros:
- Wholesome cloud integration
- Tremendous automation capabilities
- Value for money
Con:
- Internet-dependent
- Minimal offline capability
Ideal For: Businesses seeking cloud-based GST solutions
Pricing: Contact for pricing.
9. ProfitBooks GST Software
Rating: 4.6/5
Website: https://profitbooks.net/gst-software-india/
ProfitBooks GST Software is a highly simplified GST Compliant Accounting Software that can make sense out of the fact that big people confuse tax about GST. The navigation is only intuitive and so strongly provides Tax Compliance Tools. Revenue accounting enters itself without going through any higher levels of knowledge and hence is useful for one and all.
Key Features:
- Simple GST Filing: Filing with stepwise guidance
- Integrated Payment Gateway: Direct collect payment online and reconciles
- Automated Accounting: Automatic entry-posting-and-reconciliation.
Pros:
- User-friendly interface
- Extensive training resources
- The pricing structure is pretty economical
Cons:
- Minimum inventory control
- Limited customization options
Ideal For: Small businesses and startups
Pricing: Starts at INR 749/month
10. Saral GST Software
Rating: 4.5/5
Website: https://www.saralgst.com/
Saral GST Software provides a complete system of GST accounting with simplified operations for dealing with very complex GST processing. This software empowers its users with advanced data import and returns management systems through seamless integration with various accounting applications. This system allows users timely access to compliance data on pending returns with OTP-based entry authentication to ensure data security.
Key Features:
- One-Click Data Import: Very easy integration with existing accounting systems
- All-MIS Reporting: Focus on extensive analysis and compliance reports
- Session Management: Safest OTP-based authentication
Pros:
- Very high-end security features
- All-around compliance tracking
- Works excellently for data management
Cons:
- Multi-user setups tend to be expensive
- The interface is quite complex for an average beginner
Ideal For: Medium businesses and tax professionals
Pricing: INR 6,900 for single user, INR 15,000 for multi-user
11. MyBillBook GST Software
Rating: 4.7/5
Website: https://mybillbook.in/
MyBillBook relates the whole figure of completely GST-compliant accounting software meant only for small and medium businesses. As a mobile-first application, it grants the power of billing and account performance anywhere to businesses; thus, the user loves the platform, which coveys to easily create GST and non-GST billings to share by WhatsApp. It is very beneficial to retail and small-scale businesses because it supports completing routine jobs to comply with standards so easily.
Key Features
- Mobile-First Design: The entire business solution is in the hands of a smartphone
- Instant Invoice Sharing: Direct WhatsApp sharing is functional for invoice distribution
- Real-time Business Monitoring: Comprehensive Dashboard to manage and monitor full business performance
Pros:
- Very friendly mobile interface
- Easy-to-follow payment tracking
- Available on multiple platforms
Cons:
- Very little in advanced reporting
- Must be connected to the internet constantly
Ideal For: Small retailers and mobile businesses
Pricing: Starting at ₹217
12. GenieBooks GST Software
Rating: 4.5/5
Website: https://geniebooks.com/
GenieBooks is a complete package for someone’s full range of accounting heads for GST compliance to move with real comfort and accuracy in invoicing and account documentation. This software platform excels in its ability to manage sales cycles and inventories for mid-market companies vis-a-vis most of the solutions in the market. The software is cloud-based SaaS delivery, which otherwise enables it to provide enterprise-class capabilities to the end users without high upfront costs.
Key Features:
- Integrated Compliance System: Complete documentation and audit trail
- Advanced Inventory Management: Real-time tracking and optimization
- Comprehensive Reporting: Function-specific dashboards and analysis
Pros:
- Quick implementation capability
- Strong mid-market orientation
- GSTN certified solution
Cons:
- Features are too difficult for small businesses
- Price Point is higher
Ideal For: Mid-market companies requiring comprehensive solutions
Pricing: Starts from INR 6,999/year
13. Tax Raahi under Legal Raasta
Rating: 4.4/5
Website: https://www.legalraasta.com/gst-return/
Tax Raahi accounting software is a modern day-to-day accounting software that is used to automate maximum operations with a very user-friendly interface. It imports data from modern Tally and Busy accounting software. Efficient client management Ongoing dashboard adds value to the usability for accountants and their firms.
Key Features:
- Automated Reconciliation: Mismatch detection in real-time
- Unified Client Management: One face speaks for many clients
- Mobile App Integration: The client can log onto a mobile platform
Pros:
- Efficient multi-client management
- Heavily Automated
- Rich source of training
Cons:
- Less Customization
- Should work only Online
Ideal For: Accounting firms and professionals managing multiple clients
Pricing: Costing based on the number of clients
14. CompuTax GST Software
Rating: 4.3/5
Website: https://www.computaxonline.com/compuGst.html?aa=15
Naturally, based on what kind of support the work provides, the author places much stress on precision in information and the legality of procedures for compliance reasons in the GST-compliant accounting software CompuTax. Further, since the platform was that gives a user interface showing highly intrinsic data for total task control, one can attain very superior integration arrangements. The well-built user management system contains authorizations fit for any organization, whereby strict access control in the organization will be necessary.
Key Features:
- User Administration: Multi-level access.
- Automatic Data Validation: In-built verification engines.
- Support System: Multi-channel technical support.
Pros:
- Considerably strong data protection features.
- Astutely designed multi-user management.
- Completely checks for compliance.
Cons:
- Difficult interface.
- Limited mobile capabilities.
Ideal For: Huge organizations with a strong possibility of getting into complex compliance requirements.
Pricing: Customized pricing based on the size of the organization
15. Government GST Offline Utility
Rating: 4.0/5
Website: gst.gov.in
Ever since, the Government GST Offline Utility has already been transforming itself into GST-compliant accounting software for businesses in this country, an official program spearheaded by the government itself. The core function of the Government GST Offline Utility has to do with compliance with the requirements for filing returns under the ambit of GST Legislation. This is a haven space from a business standpoint to prepare data that will be compliant with the requirement to file returns offline, thus serving as a valuable backup for businesses on their information.
Key Features:
- Official Compliance Tools: Authorized, directly used by utilities from the government.
- Offline Functionality: Preparation of data done completely offline.
- Universal Compatibility: Compliant with all return forms.
Pros:
- Free of cost.
- An official tool by the government.
- Periodically updated.
Cons:
- Basic interface.
- Minimal automation.
Ideal For: Small businesses or individual runs that need the most basic compliance requirements for GST
Pricing: Free
How to Choose the Best GST-Compliant Accounting Software:
These are specific parameters determining your choice of suitable accounting software complying with GST:
- Business Size and Needs: When choosing, consider the business size and its specific accounting needs.
- Industry: Choose an accounting application depending on its functionalities for industry requirements and all compliance regulations.
- Budget: Choose the accounting system that gives you maximum value for your budget.
- Key Features: See all the features of the software to determine which of them will be relevant to your business.
- Ease of Use: Choose a software application that is easy to use and simple to navigate for people who have basic accounting abilities.
- Customer Support: Make sure that the software you have chosen has a customer help facility for any problems you may have.
- Scalability: Select software products that increase capability to meet your level of business growth.
- Integration Capabilities: You must check how well the system integrates with the existing business systems.
Conclusion
Certainly, any business having good GST-compliant accounting software would gain an advantage in tax management through its financial operations. These two possible contenders for justification for any enterprise are TallyPrime, with its strong GST functionalities, and Zoho Books, with its cloud capabilities. Assess candidate programs with what the business is interested in, cost considerations, and just how easy the system is for the average customer to operate before making a final decision.
FAQs
1. What is GST Compliant Accounting Software?
Useful to any business to execute tax work by issuing invoices and filing GST returns. Everything is done effectively without deviation from GST compliance regulations.
2. What should be a top pick for small firms when it comes to GST GST-compliant accounting software?
A very cost-effective and simple-to-operate software wowed small enterprises in those areas by providing good amalgam solutions: Zoho Books, QuickBooks, and Marg ERP.
3. Must I get one of those GST-compliant software for my small business?
Any business that is under the GST regime should subscribe to software that ensures tax compliance and automated tax reporting functionality.
4. In which there can be free soft wares that produce GST-compliant reports for accounts?
Wave Accounting gives free access to software that can easily generate accounting reports in a limited way.
5. Which is more effective, either cloud-based GST accounting software or an offline software solution?
Accessibility, automatic updates, and data security are the three basic advantages that a company can get with cloud-based software.
