Sunday, December 28, 2014

India : QuickBooks vs Tally Accounting Software

Indiafilings.com writes: QuickBooks vs Tally Accounting Software

A review and comparison of two of the most popular accounting softwares in India, QuickBooks vs Tally. Tally from Tally Solutions is a dominant accounting software player with decades of Indian market presence, whilst QuickBooks Accounting Software is a new entrant in India by Intuit, a renowned US accounting software company. In this article, we review the features, usability, pricing and more in this review from the viewpoint of a small and medium sized business in India.

Overview

QuickBooks Online Accounting Software from Intuit is a cloud based accounting software offered in a SAAS model. The QuickBooks Online edition has been configured for India, with provisioning for Indian currency, Indian tax regulations and automatic synchronization of QuickBooks accounting informations with the Company’s bank transaction information. QuickBooks is a product of Intuit, the makers of QuickBooks and Quicken – both of which are extensively used accounting softwares in the US by small and medium sized businesses.
Tally ERP 9 is an accounting software from Tally Solutions Private Limited. Tally ERP is offered as a software that can be installed on any PC running Windows XP or higher. Tally is exclusively designed for the Indian market, keeping in mind the Indian business needs and regulatory regime. Tally ERP 9 is a product of evolution of Tally accounting software in India over two decades, and thus Tally ERP 9 well adapted for the Indian business requirements. Tally ERP 9 is from Tally Solutions, an accounting software company with a global footprint.

Technology

QuickBooks is offered as in a SAAS model through the clouds. Therefore, there is no software to install and the accounting information of the Company can be accessed from any computer with an internet browser. Since, the accounting information is stored online, multiple users from multiple locations can work on the same accounting information while staying in sync. Further QuickBooks App are available for iOS and Android – allowing access to QuickBooks from tablets and mobile phone.
Tally ERP 9 is offered as a software. A PC running Windows XP or higher is required. Tally ERP 9 is a works as a stand-alone software and the accounting information is stored on the PC’s hard-drive. Tally ERP 9 does have powerful remote connect capabilities allowing persons not connected with the PC storing the accounting information to work on the same data from a different PC running Tally. Tally ERP 9 presently doesn’t offer any iOS or Android App and is thus accessible only through a PC running Tally ERP 9.

Features

QuickBooks Online has been released in India only about a year ago, targeting small and medium sized businesses. Therefore, QuickBooks Online currently offers only limited features and functionalities. Yet, the features and functionalities currently provided by QuickBooks are sufficient to comfortably manage the accounting information of a small or medium sized business in the service sector. QuickBooks Online does offer certain functionalities that are unique such as automatic bank transaction information synchronization, scheduled invoices, etc., which could come-in handy for certain business owners.
Tally ERP 9 is a powerhouse of features and functionalities. Tally ERP 9 can be used to manage the accounting information of small or large businesses in any industry – have any type of business model. Tally ERP 9 is custom built for the Indian market by an accounting software company having over two decades of experience in the Indian market. Therefore, Tally ERP 9 is compatible with all Indian tax codes and can be used by most businesses in India without any drawbacks.

Usability

QuickBooks is extremely user-friendly and intuitive. QuickBooks can be easily operated by anyone without any prior accounting knowledge or training on QuickBooks. QuickBooks is suitable for small businesses with no dedicated accounting professionals on roll. QuickBooks online can also be used in small or medium sized businesses wherein the Entrepreneur would like to have easily accessible and understandable – accounting information or reports or data.
Tally ERP 9 is powerful and feature-rich. However, Tally lags on user-friendliness. Maintaining and accessing accounting information from Tally ERP 9 is a breeze for those trained and experienced on the software, having accounting knowledge. Whereas, Tally ERP 9 can be a nightmare for those not trained or accustomed to the software. Therefore, Tally ERP 9 is suitable only for businesses with dedicated accounting professionals. Entrepreneurs not having Tally experience would also find it hard to access and understand accounting information or reports or data generated by Tally.

Support Network

QuickBooks offers support for QuickBooks Online through QuickBooks Gold Partners and QuickBooks ProAdvisors in India. QuickBooks is a new entrant in the Indian market and is working to establish a network of Accountants across India to help Entrepreneurs with their QuickBooks requirements.
Tally offers support for Tally ERP 9 through Tally Institute of Learning, Tally Partners, Tally Service Partners, Tally Integrators and Tally Extenders. Tally is well established in the Indian market and has a strong network of people and service providers to support Entrepreneurs and Businesses with their Tally requirements.

Cost

One year QuickBooks online edition can be purchased through IndiaFilings.com for Rs.3000 inclusive of all costs.
Tally ERP 9 Silver software can be purchased online through IndiaFilings.com for Rs.17,000. There are no renewals associated with purchasing Tally ERP 9 software – though purchase of higher editions when launched maybe required to stay updated. Tally ERP 9 is also provided in a monthly rental format with a monthly rental of Rs.600 – wherein future upgrades are included.

The Verdict

QuickBooks vs Tally accounting software
QuickBooks vs Tally Comparison
QuickBooks and Tally are both very good accounting softwares here to stay in the Indian market for a very long time. Tally is an established player in the Indian market, whereas QuickBooks is a newcomer to the Indian market looking to establish a dominant position. QuickBooks online in its current format is highly suitable for small and medium sized businesses in the service sector without any dedicated accounting professional on roll. QuickBooks is also a great choice for businesses wherein the Entrepreneur would like to manage accounting information and have easy access to accounting information while on the move.
Tally on the other hand, is a powerful and feature-rich accounting software, made for India – keeping in mind the Indian regulations and business practices. Tally ERP 9 can easily handle the accounting information of any small to large sized businesses in India with ease, provided the right talent is available with the business. Tally is a staple of the accounting eco-system of India and there are plenty of trained accountants with Tally skills. However, using or extracting information from Tally ERP 9 will be a challenge for those not trained or experienced on the software.
Note: IndiaFilings is a partner of both QuickBooks and Tally in India

To buy QuickBooks in India or Tally in India, visit IndiaFilings.com

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