Top 5 GST Accounting Software for Small and Medium Businesses

GST Accounting Software

More than 1.14 Crore taxpayers are registered under the GST regime in India. Significant businesses are also listed under this category, which uses complex accounting software to determine total tax liability in a financial year. Such software allows them to keep track of all financial statements generated in a fiscal year, along with proper organisation and verification of data.

List of accounting software in India providing calculations regarding GST and tax liabilities are –


  • Tally.ERP 9

The unique features of this software are that it helps keep track of the following aspects apart from maintaining proper financial statements –

  • Invoice and bill generation and tracking.
  • Payroll management.
  • Inventory management.


  • Quickbooks 

This accounting software package comes with a user-friendly interface, making it easy to use. Additionally, GSTR1 and GSTR2 invoices can be generated with specific design quotations on the same. Provision for tracking sales, supplier invoices and revenue receipts are also incorporated on this software.

Practising CAs can also expand their business by taking a franchise of a taxation software company mainly operating with Quickbooks.

  • ProfitBooks

This software supports cloud accounting, ensuring secure remote access to all financial statements and GST receipts. It also provides services such as expense management, inventory and warehouse management, multi-currency transactions, etc.

  • ClearTax

Another cloud-based accounting software India, it is one of the most trusted by chartered accountants. GST compliant tax invoices can be generated easily through this tool. This software has a reputation of churning out accurate processed information on large volumes of data inputted.

  • OneSource

It is one of the top 4 GST software CAs invest in for optimal output of services. CGST, SGST and IGST calculations can be performed seamlessly through this application, catering to all tax compliant rules established by the central government.

Why avail such accounting software for businesses?

Such software is one of the primary things present in all chartered accountant firms. The average price ranges from Rs. 20,000 and Rs. 50,000, depending upon the type and period of activation of such applications.

A salaried individual employed in a CA firm looking to start his/her own business can do so by applying for a loan for chartered accountants. Funds availed through such credits can be used to upgrade existing setups into modern CA firms providing a string of services to clients via technology such as premium GST accounting software. 

Major financial institutions in India such as Bajaj Finserv offer such loans at attractive interest rates to cover various aspects of the financial needs of chartered accountants in the country.

Such credits extended can be either unsecured or obtained against a collateral guarantee, depending upon the loan value and tenor of repayment. CAS can avail such funding to finance their personal needs as well, at reasonable costs.

Why choose a loan for chartered accountants?

Business loans for chartered accountants are tailor-made to help all practising individuals obtain necessary equipment and associated items to provide accurate services to all existing clientele. As technology is transforming audit today, obtaining an intricate accounting software package has become vital for smooth operations. 

It allows chartered accountants to process the massive volume of data with minimal chances of error, thereby promoting efficiency. Negligible errors on the part of CAs also increase customer satisfaction of the client companies, expanding the consumer base of such accounting firms.

Proper generation of financial statements of businesses is essential for the smooth operations of a company as well. CAs often serve as a guide for adequate business development as well, ensuring long term expansion and growth of such companies.

Such development has positive implications on overall profits realised as well, boding well for the respective company as well the accounting firm responsible for processing all data.

About Seema Gupta

Seema Gupta is a well-known financial and tech adviser with the abilities to keep a track and predict the market trends with the utmost accuracy. Her extensive knowledge in finance and tech is remarkable as she has worked on different financial and sectors dealing with the entire range of loans. She is also an expert in writing many finances and tech-related articles and blogs, so she is a renowned finance blogger too.

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