Best Bookkeeping Software for Small & Medium Businesses in Bangladesh

For any thriving business capital management is the key to success. Hence, having the right bookkeeping software that provides valuable insights into the financial health is crucial for the sustainability of the business. A comprehensive bookkeeping software helps businesses automate the accounting process, improve efficiency, thus improving the runway time for any small and medium sized business.  

However, with plenty of bookkeeping software available in the market, opting for the one that best suits your business needs can be a challenging task. Understanding what features you should look at in bookkeeping software and how it can help you automate your accounting tasks are crucial. To answer that, here’s a details article into bookkeeping software for small and medium sized businesses in Bangladesh:  

What is a bookkeeping software? 

A bookkeeping software helps businesses manage their financial accounts seamlessly. It automates finance processes, tracks expenses, thereby providing valuable insights into a business's financial health.   

Features of TallyPrime’s bookkeeping software 

Being a comprehensive bookkeeping software, TallyPrime comes with a host of features that allows businesses to have seamless operations. Here are some of the key features of TallyPrime that helps small and medium sized businesses in Bangladesh improve their financial processes. 

Record and bookkeeping: A comprehensive solution, the TallyPrime software helps businesses maintain and record transactions, thus making bookkeeping a seamless process. 

Invoicing and billing: Creating and printing professional-looking invoices is not a matter of concern. TallyPrime helps businesses create customizable invoices, add logos, and much more. 

Pre-defined chart of accounts: With features like a pre-defined chart of accounts, TallyPrime allows businesses to create and map their accounts according to their requirements. 

Receivables and payables management: Tracking your outstanding invoices and receivables is seamless with TallyPrime. With tools like ageing analysis, multiple bill settlement, and credit control utilities, TallyPrime provides in-depth views into your finances, thus helping you manage receivables and payables seamlessly. 

Accounting and financial reports: Businesses need visibility in their accounting and financial processes to run smooth operations. And that's precisely where TallyPrime comes into play. TallyPrime enables businesses to get a 360-degree view into their processes. This helps them get valuable insights that ultimately help in making informed decisions with a wide range of reports. 

Stay tax compliant: With automated processes, staying tax compliant is easy with TallyPrime software onboard. It helps prevent and detect any anomalies in your accounts and ensures that your books are error-free.  

Inventory management: Being a flexible software, TallyPrime allows businesses to maintain their inventory seamlessly. It helps businesses organize their stocks in unlimited groups, batches, and even location/godowns. It further enables businesses to manage and quantify the stock, predict trends, and much more per their requirements. 

Multi-currency support: With TallyPrime, businesses can record invoices, quotations, orders, accept payments, and much more in multiple currencies. What's more? It also auto-calculates any forex changes, and the same reflects in your accounts.  

Sales and purchase management: Being a flexible solution, TallyPrime adapts to your business's different sales and purchase processes. From purchase or sales orders to debit or credit notes, maintaining your books with TallyPrime is a seamless process.  

Online business reports: As your business starts growing, having information on the go becomes critical. With TallyPrime you can access your business data anytime from any gadget.  

Multi-company support: Being a comprehensive solution, TallyPrime allows you to manage multiple ventures and handle their intricacies seamlessly.  

Payroll management: Managing your employee's attendance, payroll accounting, and salary processing is an easy task with TallyPrime. It also helps businesses classify their employees based on different parameters like department, function, and more. 

Difference between bookkeeping and accounting software? 

Although bookkeeping and accounting are often used interchangeably, there is some degree of differentiation between the former and the latter. Here's a quick view into how both bookkeeping and accounting software is different from each other.

 
Automate your tasks with a bookkeeping software 

A robust bookkeeping software enables businesses to manage tasks seamlessly. Here are some of the critical tasks that bookkeeping software can help businesses manage:  

• Flexible invoicing: Enables businesses to send bills when assignments are done and receive compensation. 
• Automate bank reconciliation: Automatically reconcile bank statements and transactions 
• Send reminder: Easily track and send notifications for pending bills 
• Remote access: Provides easy access to business reports from anywhere and anytime 
• Inventory tracking: Track, manage, and analyze inventory in real-time and predict stock trends with bookkeeping software
• Instant reports: Get customized reports to get valuable business insights 
• Payroll: Easily track employee attendance and process salary seamlessly 
• Paying bills: Pay, receive and store bills to ensure smooth business operations 
• Tax Management: Maintain error-free books of accounts and remain tax compliant 
• Purchase order: Simplify the purchase order procedure and maintain control

Read More:  

• 5 Things You Can Do Using Save View Option in TallyPrime 
• Why Is Accounting Software in Bangladesh So Important?