The Uncrowned Hero of the Indian Economy
India is one of the fastest-growing economies in the world, with approximately 630 lakh Micro, Small, and Medium Enterprises (MSMEs) registered. The MSME sector in India, which accounts for 30% of the nation's GDP and supports over 11 crore jobs across various industries and regions, generates income at the grassroots level. (Source: Businessworld.in).
While the MSME sector in India is significant and makes up a substantial portion of the GDP, this sector has faced a number of difficulties in recent years. One of the biggest challenges faced by micro, small, and medium enterprises (MSMEs) is the absence of accounting automation.
RealBooks has conquered every challenge that has arisen in this sector in recent years and has become the Best Accounting Software for Small Businesses in India.
What’s preventing small businesses from thriving?
Small businesses encounter various challenges in the realm of accounting. Limited financial resources often make it difficult for them to invest in robust accounting software or hire professional accountants. Additionally, many small business owners lack formal accounting training, leading to challenges in accurately recording transactions and interpreting financial statements. Time constraints also play a role, as owners often juggle multiple responsibilities and struggle to allocate sufficient time for accounting tasks. Compliance with tax regulations and financial reporting requirements can be daunting, and cash flow management poses a constant challenge. Data security, scaling accounting processes, and making informed financial decisions are additional hurdles small businesses face.
RealBooks simplifies the MSMEs' Accounting Victory
Today, more than ever, the importance of online accounting software cannot be overstated, and the advantages it offers are enormous.
Using RealBooks, the best accounting software for small businesses in India has a number of advantages, including these:
- Low Upfront Costs: RealBooks understands the financial limitations of small businesses, and has designed its pricing in such a way that users can avail of monthly subscriptions as well as yearly allowing businesses to access robust accounting features without breaking the bank.RealBooks offers a cost-effective solution for the accounting needs of small businesses by eliminating high upfront costs and providing flexible subscription plans.
- User-Friendly Interface – Designed with small business owners in mind, RealBooks prioritizes usability and simplicity, making it accessible even for users with no prior knowledge of accounting. The user-friendly interface and intuitive features allow small business owners to quickly familiarize themselves with the software and effectively manage their financial records. The software's navigation is easy to navigate, enabling users to navigate through their financial tasks with confidence and ease.
- Time-Saving Automation: Different accounting tasks are automated by RealBooks, which helps small business owners save valuable time. Features like automatic bank reconciliation, GST filing, e-invoice generation, and expense tracking streamline the bookkeeping process, reducing manual data entry and minimizing the risk of errors. By automating tedious tasks, RealBooks helps users to stay focused on other essential aspects of their business.
- Compliance and Tax Support: The life of a one-man army is not easy. Learning on one end and counting days to the due date on the other end is a process that is more likely to attract errors. If you hire a skilled accountant for this, it will be a huge hit to your pocket.
- RealBooks offers a range of features to simplify GST return filing and improve accuracy. With auto-generated GST reports, users can avoid data preparation and filing delays. The software integrates with the GST portal, allowing direct upload of data without the need for file conversion.
- To avoid mistakes and deal with the requirement for revised returns, RealBooks provides pop-up transaction warnings and exception reports. Consolidated reporting for accounting, GST filings, and inventory makes multi-branch accounting simpler.
- The software stays updated with changes in the GST portal, ensuring compliance. Users can upload invoices at any time and make modifications as needed.
- In case of rejected invoices, RealBooks provides invoice-wise reasons for easy correction. RealBooks aims to simplify the return filing process and contribute to accurate tax payments, serving as a partner in fulfilling tax obligations and supporting the nation.
- Cash Flow Management: Small businesses can manage cash flow more efficiently with the help of RealBooks. It gives businesses real-time access to information about their income and outgoing costs, enabling them to manage unpaid invoices, keep track of cash flow patterns, and project future cash flow. RealBooks provides precise and current financial data to assist small businesses in making knowledgeable cash flow management decisions.
- Data Security: RealBooks maintains a high priority on data security to protect private financial information. To guarantee the security and privacy of user data, it employs industry-standard security mechanisms, secure data encryption, and regular data backups. By tackling data security issues, RealBooks gives small businesses peace of mind that their financial information is secure.
- Scalability and Growth: Catering to the evolving needs of growing businesses, the solution provided by RealBooks is designed to accommodate increasing transaction volumes, multiple users, and expanding business operations. With scalable features and the ability to handle growing data, it supports small businesses throughout their growth journey, ensuring seamless accounting processes.
- Financial Insights and Reporting: Empowering small businesses with comprehensive financial insights and reporting capabilities, RealBooks offers customizable financial reports, real-time analytics, and tax reports. It enables businesses to track their performance, make informed financial decisions, and gain valuable insights into profitability, expenses, and financial trends. With RealBooks, small businesses can make data-driven decisions and enhance their financial management processes.
- Enhancing Mobile Accounting: RealBooks mobile app revolutionizes accounting tasks for small businesses by offering a range of efficient features. The app allows users to access accounting and inventory reports on the go, and share PDF or Excel reports seamlessly. With an intuitive maker-checker tool, managers can approve transactions with a simple click on their phones. Creating invoices, recording receipts and payments can all be easily done on the app, reducing dependency on others and saving time.
With its easy-to-use interface and command centers, it makes the perfect fit for tech-savvy businesspeople. Whether you have an iOS or an Android, you can avail business insights with just a click through the RealBooks app.
RealBooks emerges as the best accounting software for small businesses in India and a trusted ally for small businesses, tackling the hurdles of accounting with precision and efficiency.
So, harness the power of RealBooks, embrace simplicity, and leave behind the worries of accounting. It's time to focus on what truly matters – nurturing your business, fueling your passion, and witnessing the extraordinary success that awaits.
Choose RealBooks, your trusted financial superhero partner, and let your small business journey reach new heights. Together, we can rewrite the story of your success, one balance sheet at a time.
