Easily manage the finances of your small business using Gimbook Bookkeeping Software. Simplify your financial tasks, from recording expenses to creating invoices, and improve your company right now!
A bookkeeping software is a tool that helps you manage your financial business transactions like recording, uploading, editing, and sharing those business documents. It allows you to create and record invoices, purchase bills, quotations, expenses, and more.
With bookkeeping software for small businesses, you can ensure that your balance sheet matches, and hence your transactions are recorded automatically for you, and your customers. When it comes to creating a budget that helps in your business growth, you can always check reports and ascertain the budget for profit that your business needs for its growth!
Managing Financial Efficiency with Bookkeeping Software
Managing your finances efficiently with Gimbook bookkeeping software for small businesses will help you streamline your business processes by streamlining entries, and synchronising your phone with the website via a cloud-based set-up helping you access all business transactions easily.
You can automate repetitive transactions and generate financial reports easily. The best thing with bookkeeping software is, that you can manage all your business financial transactions in a dashboard and manage all the updates related to your business transaction entries in real time.
Online bookkeeping software enhances your cashflow by sending automated invoices, tracking accounts payable, helping you record unpaid payments, reducing costs by looking at categorised expenses, getting an understanding of where you need to negotiate with the suppliers, tracking inventory, and helping you calculate budgets and charges applicable as per business type and your industry.
Important Features in Bookkeeping Software for Running Your Small Business
As a small business owner in India, bookkeeping software isn't just about convenience, it's important. From GST & tax filing to simplifying finances across locations, bookkeeping software promotes accuracy, efficiency, and valuable insights. Let’s understand it better with the following points.
- Choosing the right software:
Bookkeeping software helps you Identify your specific needs (invoicing, inventory, payroll) and budget before thinking of profit. Along with that, you need to ensure the software adheres to Indian accounting standards and GST filing requirements. And if the software is customisable for your business, then it can help you grow your business, by providing further features as needed.
Optimising workflow:
Best Bookkeeping software will allow you to integrate your bank accounts, automate transactions, and save buyers and suppliers from previous transactions so that you do not have to recreate an account for them. You can easily select it from the existing list which will help you to save time and streamline your workflow.
- Data Safety:
When your bookkeeping data is stored on a cloud-based bookkeeping software, you don't have to worry about the loss of paperwork or important documents. Best bookkeeping software allows you to keep your data encrypted on safe online with timely updates and allows access to your staff only if you have shared it with them.
- Affordability:
A good bookkeeping software will cover the required features under your budget by providing you with customised pricing like pay per use, pay per feature, pay monthly, annually or lifetime etc.
- Support:
A good bookkeeping software will have additional features, along with technical and training support where your problem related to the software can easily be resolved.
Best bookkeeping software automates tasks, reduces errors and gains real-time financial health updates with online bookkeeping software. Consistent use and training unlock the full potential of this powerful ally for your business growth.
But is it possible to find all these important features in bookkeeping software? Read further to find out...
Why prefer Bookkeeping Software for Small Businesses in India?
In India, small businesses face various problems regularly when it comes to managing their finances. Here's why using bookkeeping software can be especially beneficial for you:
- Financial Decision Making:
Indian businesses are prone to seasonal changes, and with that, the cash flow of business seems to boom and during off-season maintaining inventory costs, and paying rent, maintenance charges and storage charges becomes an issue. With bookkeeping software for small businesses, you make better and more informed decisions by having a look over your finances.
Taxation Purposes:
When you need to file your taxes accurately, you need all your calculations related to discounts, taxable charges, offers, TDS deductions, and everything right, and to help you record these entries accurately, and automate them, you need bookkeeping software for small businesses. It helps you to reduce the risk of penalties, and delays in the tax return filing, and TDS reporting.
- Seamless Access:
Best bookkeeping software allows you to manage business transactions from multiple locations, with a cloud-based bookkeeping software, you can access your finances, and manage them from anytime, anywhere easily!
- Business Growth:
You need bookkeeping software for your business growth as it streamlines your business transactions in the form of keeping the transaction entries organised. Monitoring your inventory costs, and setting up budgets for expenses gives you room for the budget allocation for your business growth.
With all the points mentioned above, you can bookkeeping software for small busines to streamline your efforts and enhance profits easily!
Key Features to have in a Bookkeeping Software- Gimbooks for Small Businesses
Gimbooks is a cloud-based accounting and bookkeeping software designed for small and micro businesses in India and the Middle East. It offers a wide variety of features to help businesses handle their finances, including:
- Customised pricing: GimBooks offers pricing based on monthly, annual, and lifetime plans, you can also purchase features like e-invoice, and e-Waybills, separately.
- Easy-to-use: GimBooks App is easy to use and has an intuitive user interface, which quick responses while using the app and software. It is Cloud-based which makes it easy to use, and access.
- Industry-wise Invoicing and billing: With the best bookkeeping software for small businesses you can create professional invoices, create e-invoices easily, bulk upload bills, and manage recurring invoices according to your industry and business type.
- Inventory management: You can track inventory levels, check for pending payments, and generate reports.
- Purchase management: With GimBooks bookkeeping software, you can manage purchase orders, purchase bills, track bills, and automate payments easily.
- Banking integration: This cloud-based online bookkeeping software allows you to connect your bank account to automatically import transactions and reconcile statements within the software.
- GST compliance: With bookkeeping software for small businesses, you can easily generate GST invoices and reports, and file GST returns directly with the government.
- Financial reporting: This does more than bookkeeping, which allows you to generate reports on income, expenses, profits and losses, balance sheets, and bookkeeping software for small businesses, it allows you to generate GST reports, parties, purchases, sales, inventory, expense, and more reports.
- Tax filing: With GimBooks- bookkeeping software, you can file income tax returns directly on the government portal.
- Multi-lingual support: It offers language support in English, Hindi, Tamil, Telugu, Kannada, Malayalam, Saudi, Arabic, Marathi and others.
Conclusion: Get the Best Online Bookkeeping Software
For a small business owner, finding the best bookkeeping software can be hard, especially in a dynamic market like India where business depends on season too. With costs on maintenance and managing bills, you can look for bookkeeping software that has the following features automated transactions, real-time reporting, managing inventory easily, industry-wise billing template and GST compliance.
This will not only help you save priceless time and resources to focus on growing your business. Remember, consistent use and training unlock the full potential of this powerful tool.
FAQs
What is a bookkeeping software?
A bookkeeping software is a tool that helps manage your business finances by recording transactions, creating invoices, generating reports, and more.
Why do I need bookkeeping software for my small business?
You need online bookkeeping software because it saves time and effort, reduces errors, ensures compliance, and provides insights for better decision-making.
Can bookkeeping software help me grow my business?
Yes, by providing valuable insights into your finances, helping you track progress, and making informed decisions for growth.
What are the key features to look for?
Invoicing & billing, inventory management, expense tracking, financial reporting, bank integration, GST compliance, mobile app.
Which software is best for bookkeeping?
GimBooks is the best bookkeeping software for small business. It is the easiest bookkeeping software to use from home.
Is GimBooks free bookkeeping software?
GimBooks offers a 7-day free trial to use the app. After the free trial expires, you can find more details on pricing here. It is the best online bookkeeping software for a small business in India.
Is bookkeeping software expensive?
Options range from free plans with limited features to paid plans with more functionality. Choose based on your needs and budget.
How do I choose the right software for my business?
Consider your specific needs, size, budget, industry, and desired features. Research and compare different options.
Do I need inventory management features in a bookkeeping software?
Only if you manage physical stock. The software can track levels, generate purchase orders, and optimize inventory costs.
What about payroll processing?
Some software offers payroll features but considers dedicated payroll solutions for complex needs.
Is data security important?
Absolutely! Look for software with secure cloud storage, data encryption, and access control measures.
What kind of support is available?
Choose software with readily available support options like live chat, email, and FAQs.
Does the software comply with Indian accounting standards and GST regulations?
Yes, look for software specifically designed for the Indian market or certified for GST compliance.
Does it offer multi-lingual support, including Hindi and other regional languages?
Yes, many bookkeeping software provides options for diverse language needs for ease of use.
What about e-invoicing and e-Waybill generation?
Some bookkeeping software offers these features, simplifying compliance with Indian regulations, Like GimBooks.
Can I try the software before committing?
Yes, GimBooks offers free trials or demos to test features and ensure they fit your needs.
How often should I update my financial records?
Regularly, ideally daily or weekly, to maintain accurate and up-to-date information with the best bookkeeping software.