Best Accounting Software for Small Businesses in UAE

Pratibha Devasenapathy | Updated on: November 3, 2023

What is an accounting software?

Accounting software is a solution used by bookkeepers, accounting professionals, and business owners to process accounting transactions and manage accounts. Here are some of the most important features, benefits, and things to consider when you pick an accounting tool for your business.

Additionally, accounting software comprises distinct sections or modules, each designed to handle specific aspects of the accounting process. Some of the core modules are:

  • Accounts receivable, for all the money the business receives
  • Accounts payable, for all the money the business owes
  • General ledger, which is the company's records ("books")
  • Billing/invoicing, for all invoicing to the business' customers
  • Inventory/stock, for all the company's inventory
  • Purchase order, for all the inventory orders
  • Sales order, for all the orders received by customers
  • Bookkeeping, for business records payments and collections

There are other modules in different accounting software that are added on as needed. They include:

  • Costing expense: Enables the input of employee business-related expenses
  • Payroll: Facilitates the tracking of employee salaries and associated taxes
  • Reports: Allows the generation of comprehensive financial data on different aspects of the business, which can be printed for further analysis and review

5 key features to look for in an accounting software

The realm of business accounting encompasses a diverse array of tasks essential for capturing the complete financial landscape of a business. Undertaking these activities manually can be intricate and consume significant amounts of time.

However, accounting software has played a pivotal role in streamlining these processes, allowing business owners to allocate more time towards administering and implementing their strategic initiatives. Let's explore the five crucial features that should be considered when selecting an accounting software solution.

  • Streamlined bookkeeping with automation

    For absolute accuracy throughout, your accounting software must offer full process automation. Manual bookkeeping is burdensome, especially for small businesses experiencing steady growth. Automation minimizes manual data entry and boosts efficiency. Ideally, accounting software should require one-time feature configuration, comprehend your behavior, and provide results without repeated action definitions. 
  • Effective accounts receivables & payables management 

    Proper management of accounts receivables and accounts payables is vital for evaluating a company's financial well-being. Accounts receivable represents the outstanding amount owed by customers for credit-based sales, while accounts payable denotes the liabilities a business owes to its suppliers. 

    Effective debtor management is essential for maintaining optimal cash flow and utilizing accounting software can enhance accuracy in managing accounts receivables and payables. 

  • Secure access anytime, anywhere

    Remote access to data has become a necessity than a choice. In a time when everyone is on the move and locations can’t pass as an excuse for poor work productivity, remote access can be your best ally. There could be several instances, where you would need access to some important company data, and your records are back in your office. During such times, remote access capability comes in handy, as it allows you to get the desired data on the go. However, when a software solution provides you with a remote access facility, it is of prime importance that it also lets you define user-specific controls to the data, to avoid any data breach. Thus, this will not only increase your employees’ productivity but will also save a lot of time and cost and help in faster decision making.

  • Flexible purchase & sales management

    To meet the unique needs of each business, an ideal accounting software should offer customizable features. This allows business owners to configure the software based on their specific purchase and sales cycles, rather than having to conform to a rigid system.

    Seamless transaction processing, such as recording invoices, should be a smooth experience within the software. When selecting a software solution, it is important to quantify and specify the expected benefits to accurately evaluate potential options. Choosing accounting software that is tailored to your business ensures a better fit and maximizes its value.

  • Provide support as per global accounting standards

    For businesses operating globally, their accounting software must adapt to the requirements of each country. Whether it's related to currency, compliance, language, or other factors, the software should be flexible enough to meet these specific needs. 

    It should provide customized options and support the generation of reports in different languages, as well as facilitate filing returns according to each country's laws. The accounting software should enable users to perform country-specific actions without the need for external resources, ensuring seamless international operations.

Why TallyPrime is the best accounting software in UAE for SMBs?

Simple, intuitive and works just like a human brain. TallyPrime enables businesses to stay on top of their game with accurate accounting reports with great amount of flexibility. Starting from payments, receipts, sales, purchases, credit notes, debit notes, journal, contra, and more. With just a click of a button, you can pass these transactions easily in your books and their effect will reflect in the respective accounting reports.

Improved cash flow

  • Streamline receivables and payables: Enhance your business's working capital and effortlessly manage outstanding payments 
  • Optimize cash flow and fund flow: Take control of your financial planning by accurately estimating your business's sources and uses of funds 
  • Forecasting through Scenario management: Forecast your business finances to improve cash flow through effective scenario analysis 
  • Monitor debtor payment performance: Track customer payment timelines, review credit policies and ensure efficient cash flow management 

Expedite your business transactions 

  • Multi-currency accounting: Seize every business opportunity by conducting transactions in multiple currencies, thus maximizing your global reach
  • Cheque management: Minimize errors and eliminate uncertainty when transacting through cheques, ensuring smooth financial operations
  • Integrated invoicing: Accelerate invoicing processes by generating bills inclusive of taxes, thus saving your and your customers’ time

Regulate business expenses

  • Cost and profit centres: Establish and analyze cost and profit centres based on departments, product verticals, employees, and more, enabling separate performance analysis
  • Budget & controls: Effectively allocate and control your business funds, ensuring efficient utilization and monitoring of expenditures
  • Credit management: Enhance cash flow and mitigate bad debt risks by assigning distinct credit limits to different parties, optimizing credit management processes

Boost your business’ profitability 

  • Stock movement analysis: This helps in keeping track of stock more accurately. Identify slow/fast-moving stock items, and manage stock across various locations
  • Item and invoice-wise profitability: Estimate profits item and invoice-wise and rework the non-performing products.

Explore the extensive range of accounting features offered by TallyPrime.

Frequently asked questions

How much does accounting software cost?

Whether you're a small business or an enterprise, Tally's business software caters to all your ERP or Accounting needs. See our plans, pricing and buy online.

Silver Perpetual (Single user edition) AED 2,340
Gold Perpetual (Unlimited multi-user edition) AED 7,020

Why do we need accounting software?

Accounting software is a solution used by bookkeepers, accounting professionals, and business owners to process accounting transactions and manage accounts. Here's why business owners must invest in accounting software:

  • Automating tasks
  • Generate balance sheet, trial balance and other important accounting reports
  • Manage outstanding easily
  • Being tax compliant
  • Making data accessible
  • Banking made easy

When is the best time to switch to accounting software?

The best time to switch to accounting software is when you want to automate and streamline your business process more. An accounting software like TallyPrime molds with your business and becomes your growth partner by offering capabilities, that will not only take care of your current needs but also future requirements.

What is a small business accounting system?

A small accounting system is one that helps organise and streamline accounting and business processes in the simplest way possible. To choose the best accounting software in UAE, you must keep in mind the following aspects:

  • Free trial
  • Easy to install and use
  • Scalability
  • Price
  • Online technical support
  • Data security
  • Anytime, anywhere access
  • Compliance

Do small businesses need accounting software?

Yes. It is always advised to small businesses to automate their business processes, so that they can focus on their business growth and not about their day-to-day activities. A simple, easy-to-install software like TallyPrime will be of great help to small businesses, enables businesses to stay on top of their game with accurate accounting reports with great amount of flexibility.

What is the most commonly used accounting software?

Trusted by more than 2 million businesses, TallyPrime is the most commonly used accounting software.

What is the best software for an accountant?

TallyPrime is the best accounting software for accountants as it automates the entire accounting process, thereby improving overall business efficiency.

Which software is used for financial accounting?

Although there are many software for accounting, TallyPrime is one of the most widely used software for accounting.

Sign up for a free demo of TallyPrime and automate your accounting process with great ease and accuracy.

Explore More Products


Looking for a solution to make your business more efficient?