Every organization has to manage funds effectively in today's fast-paced corporate world. Bangladeshi firms now depend heavily on accounting software due to the growing need for digitalized financial procedures. Adopting the appropriate accounting software provides streamlined operations, greater accuracy, and compliance with local rules for businesses of all sizes.

In this blog post, we’ll explore the top 10 accounting software available in Bangladesh, each offering a unique set of features tailored to meet various business needs.

1. Tally ERP 9

Tally ERP 9 is one of the most popular accounting software options in Bangladesh. Known for its ease of use and comprehensive features, it allows businesses to manage accounting, inventory, payroll, and taxation. Tally supports multiple languages and can be customized to meet the specific requirements of Bangladeshi businesses.

Key Features:

Inventory and Stock Management

Taxation (VAT, TDS)

Payroll Management

Multi-Language Support

2. Nextzen Limited

Nextzen Limited provides global accounting software that has gained popularity in Bangladesh for small and medium-sized enterprises (SMEs). It offers cloud-based solutions, enabling business owners to access their accounts from anywhere. Its user-friendly interface makes it ideal for non-accounting professionals.

Key Features:

Cloud-Based Accounting

Invoicing and Expense Tracking

Reporting and Analytics

Third-Party App Integrations

3. Zar ERP

Zar ERP is a locally tailored system made especially for Bangladeshi companies. It includes a broad variety of corporate operations, such as inventory management, accounting, and human resources. For those looking for solutions tailored to a certain location, Zar ERP is a great option because it conforms with the financial rules of the nation.

Key Features:

Comprehensive Financial Management

HR and Payroll Modules

Tax Compliance for Bangladesh

Customizable Reports

4. Wave Accounting

Wave is a free accounting software ideal for startups and freelancers. Though its features are somewhat limited compared to paid solutions, it covers essential accounting tasks such as invoicing, expense tracking, and financial reporting.

Key Features:

Free to Use

Invoicing and Receipts

Expense Tracking

Basic Financial Reporting

5. Xero

Xero is a cloud-based accounting software that offers business owners a robust, user-friendly platform. Working together is made simple for accountants and clients by Xero's real-time collaboration tools. It works well with third-party apps as well, which increases its adaptability to different Bangladeshi sectors.

Key Features:

Cloud-Based Solution

Real-Time Collaboration

Payroll and Inventory Management

Third-Party App Integrations

6. MARG ERP

MARG ERP is another popular accounting software in Bangladesh. It offers complete business solutions from accounting and inventory to payroll and GST compliance. MARG ERP is highly scalable, which makes it suitable for businesses of different sizes.

Key Features:

GST and VAT Compliance

Inventory Management

Accounting and Invoicing

Multi-Currency and Multi-Language Support

7. Busy Accounting Software

Busy is a highly regarded software that offers robust features for accounting, billing, and inventory management. It is used by many SMEs in Bangladesh due to its simplicity and ease of use. The software comes with modules tailored to meet the specific requirements of different industries.

Key Features:

Multi-Branch Management

Inventory and Order Processing

VAT Compliance

Budgeting and Forecasting

8. SAP Business One

SAP Business One is an advanced enterprise resource planning (ERP) solution that offers accounting functionalities for large businesses. It integrates all core business functions, including financials, sales, customer management, and operations, into a single system. 

Key Features:

Advanced Financial Reporting

Integrated ERP Solution

Sales and Customer Management

Industry-Specific Customization

9. Xpert ERP

Xpert ERP is a Bangladeshi ERP solution that includes a powerful accounting module. The software is designed for industries such as manufacturing, distribution, and retail, offering a complete financial management solution.

Key Features:

Real-Time Financial Monitoring

Inventory and Asset Management

Payroll Processing

Customized Financial Reports

10. AccountEdge Pro

AccountEdge Pro is a desktop-based accounting software suited for small businesses. It offers a full range of accounting features, including payroll, inventory management, and banking. Though not as popular as cloud-based solutions, it provides a solid option for those preferring an offline solution.

Key Features:

Payroll and Banking Features

Inventory and Sales Tracking

Time Billing

Vendor and Purchase Management

Conclusion

Selecting the appropriate accounting software is essential to keeping your company compliant and financially efficient. You'll find it easy to select the appropriate accounting software solution because all of the options on this list accommodate a range of business sizes and requirements. Using the right accounting software may greatly enhance your financial management procedures, regardless of company size—startup, SME, or major corporation. You may choose the accounting software that best suits your business objectives and operational needs in Bangladesh by weighing features, cost, and scalability.

Curator – Accounting Software

Curator is another best accounting software in Bangladesh. For the journal, voucher, and or sales entry Curator accounting software is apt software as it has features like: 

• Double-entry bookkeeping system 
• Automatic Voucher enlisting facilities such as debit and credit 
• Cash-based accurate accounting facilities 
• Income and expense report management
• Multiple currency transaction management 
• Calculation of the total tax by reading all of the financial or accounting transactions of the user’s tax period 

For the transparent financial information of the company, the software might help you. 

Smart Account

Smart Account is another online accounting software in Bangladesh. They are providing both online and offline multi-user but web-based smooth accounting services. Smart Account also offers features like: 

• Inventory sales and production facilities, 
• General account management facilities
• Multiple company management features
• Production costing privileges
• Automatic recurring service 
• Dynamic Report Generation feature. 
• Customer summary Generation feature

Overall, Smart Account is a really smart accounting assistant. Its plans start from 4500/month to the lowest price of 3600/month. 

The most popular Accounting Software

The book is a lifetime deal with a 2-month money-back guarantee. You don’t need to pay monthly, or annually. This software is one of the most powerful accounting apps in the world. You can use it from anywhere, any country you live in.

The key features:

• Inform your accountant.
• Reports, statements, and 1099s should be printed
• Training videos, webinars, and certification are all available for free.
• Download Transactions Automatically
• Create Journal Entries and Separate Transactions
• Use your iPad or Android tablet to access your books.
• 15 reports, including a balance sheet and profit and loss statement
• Online Invoicing and Payment Acceptance
• AccuScore Smart Categorization saves time.
• Create an unlimited number of concurrent users.
• Bill Management and Check Printing
• Integration and add-ons
• .Keep your Books Safe

Cheqbook’s price is a one-time payment of $65, which is ৳6500 in Bangladeshi exchange. Check out here to get a discount of 10%.

How does an Accounting software work?

Accounting software is made to help people and organizations with a variety of financial chores and procedures by streamlining and automating them. These are the main characteristics of how accounting software functions; individual features and functionality may vary throughout different accounting software.

Data Entry:

• Users input financial transactions into the system. This can include sales, purchases, expenses, income, payroll, and more.
• Transactions are recorded in a standardized format, typically following accounting principles and standards.

1. Chart of Accounts:

• The software organizes transactions using a Chart of Accounts, which is a structured list of all accounts used by an organization. Each account represents a specific financial category.

1. Double-Entry System:

• Accounting software typically uses a double-entry system, where every transaction affects at least two accounts—debit and credit. This ensures that the accounting equation (assets = liabilities + equity) remains balanced.

1. Automation:

• Many routine and repetitive tasks are automated to reduce manual errors and save time. For example, recurring transactions, depreciation calculations, and invoice generation can be automated.

1. Financial Statements:

• The software generates financial statements such as the income statement, balance sheet, and cash flow statement based on the recorded transactions.
• These statements provide an overview of the financial health and performance of the business.

1. Bank Reconciliation:

• Accounting software often includes features for reconciling bank statements with recorded transactions. This helps identify any discrepancies and ensures accuracy.

1. Invoicing and billing:

• Businesses can create and send invoices to customers directly from the accounting software. Some software also facilitates online payments and tracks receivables.

1. Expense Tracking:

• Users can record and categorize business expenses. This feature helps businesses monitor spending and manage budgets effectively.

1. Payroll Processing:

• Accounting software may include payroll modules to calculate and process employee salaries, taxes, and other related transactions.

1. Audit Trail:

• Accounting software maintains an audit trail that records changes made to financial data. This feature enhances accountability and helps in identifying and rectifying errors.

1. Compliance and Reporting:

• The software often includes features to ensure compliance with tax regulations and other financial reporting requirements. It helps generate reports for tax filing and auditing purposes.

1. Security and Permissions:

• Accounting software provides security features to protect sensitive financial data. Access permissions can be configured to restrict certain users from specific functions.

Accounting software strives to improve the efficiency, accuracy, and accessibility of financial management for both people and corporations by automating and organizing financial activities. Software packages can vary in complexity and capability to meet the needs of different sectors or business sizes.

Why does accounting software need it?

Accounting software is intended to automate and simplify a company's many financial procedures. It is essential for recording transactions, maintaining financial data, and producing reports. Information technology (IT) is necessary for accounting software for the following reasons:

Data Storage and Retrieval:

Accounting software requires a robust IT infrastructure for efficient data storage and retrieval. IT systems enable the software to securely store large volumes of financial data and retrieve it quickly when needed.

Automation of Processes:

IT facilitates the automation of repetitive and time-consuming accounting processes. Automation reduces the risk of errors, improves efficiency, and allows accounting professionals to focus on more complex tasks.

Integration with Other Systems:

Accounting software often needs to integrate with other business systems, such as inventory management, payroll, and customer relationship management (CRM) software. IT plays a vital role in ensuring seamless integration and data flow between these systems.

Security Measures:

Financial data is sensitive and requires robust security measures to protect against unauthorized access, data breaches, and fraud. IT helps implement security protocols, encryption, and access controls to safeguard the integrity and confidentiality of financial information.

Compliance and Reporting:

Accounting software is crucial for ensuring compliance with financial regulations and standards. IT systems help automate the generation of accurate and timely financial reports, making it easier for organizations to meet regulatory requirements.

Scalability:

As businesses grow, accounting software needs to scale to accommodate increased data volume and complexity. IT infrastructure allows for scalable solutions, ensuring that accounting software can adapt to the evolving needs of the organization.

Remote Access and Collaboration:

Modern accounting software often relies on cloud-based solutions, allowing users to access financial data remotely. IT enables secure remote access and collaboration among team members, especially in a world where remote work is increasingly common.

Backup and Disaster Recovery:

IT plays a crucial role in implementing backup and disaster recovery solutions for accounting data. This ensures that financial information is protected against data loss, system failures, or unforeseen disasters.

Software Updates and Maintenance:

Accounting software requires regular updates and maintenance to address security vulnerabilities, bugs, and compatibility issues. IT professionals manage the software's lifecycle, ensuring that it remains functional and up-to-date.

User Training and Support:

IT is essential for providing training and support to users of accounting software. This includes troubleshooting issues, assisting with software updates, and ensuring that users can effectively utilize the features of the accounting software.

To summarise, accounting software is dependent on information technology to furnish a sturdy, safe, and effective foundation for handling financial information and bolstering the wider financial operations of a company.