Best Retail Billing Software for Retail Shops

What is Retail Billing Software?

The retail billing software that helps with billing, invoicing, accounting, and inventory is an important part of any retail business. It automates receipt generation and helps perform calculations, maintain detailed financial records for bookkeeping, and register information about products that are sold or exchanged. Additionally, the billing & invoicing module helps maintain different accounting elements such as tax registry, ledger, dues tracker, budgeting, bank reconciliation, balance sheet maintenance, etc.

Elements of retail businesses include products or items, suppliers, purchases, sales, and inventory as essentials. Managing retail businesses becomes much easier with retail management software. Moreover, with retail billing automation, it has become quick and easy to execute and administrate sales operations. A wide range of retail billing management software is available in India, allowing businesses to enhance performance and improve revenue generation.

What Are The Key Features Of Retail Billing Software?

• Retail POS Billing: All POS functions can be readily performed with POS retail billing software. Billing can be computed based on the item codes, quantity, and rate pre-defined for every item or product.
• Retail Inventory Management: Stock can be automatically updated as any transfer of items takes place. All newly added stock information can be recorded, and users can further generate barcodes and label products with retail billing software with barcode functionality.
• Purchases: Purchase order management and payment details for each purchase can be managed with the billing software for retail shops. It is specially designed to manage deal with purchase operations.
• Vendor Management: Details of all vendors, products offered, and their rates can be recorded in the vendor management module. This feature also keeps track of the payment history and vendor performance.
• Retail Accounting: Financial accounting features can simplify various accounting operations, including incomes and expenses. Debit or credit note creation, journal entries, ledger posting, daily sales and transaction entries, balance sheets, trial balance, and many other financial accounting features are integrated into retail solutions. It can also take care of route management, collection management, GST, and credit management.
• Reports: Report generation is enabled in almost every retail solution so businesses can make informed decisions effectively with the help of data. Retail billing software lets you generate reports about all kinds of bills and transactions done in the business. It stores all information and creates visual reports which help stakeholders make the right decision.
• Schemes & Offers Management: Users can pre-define schemes and offers in your retail store. This will automatically apply them to required items when scanned.
• Manage Fluctuating MRP: You can manage your stock MRP-wise for fluctuating MRP items. For example, these can be grocery items sold in different locations. This will accordingly determine the sales price of the commodity while billing.
• GST Compliant: Retail billing software with gst enables you to file GST returns, TDS, and TCS directly from the dashboard. It can help in running internal audits to ensure error-free financial reporting.
• Expiry Management: Expiry management ensures that you know about the batches that are about to expire or have already expired. You can either sell them quickly or return them to your vendors.
• Multiple Payment Options: Users can accept payments from multiple methods such as UPI, cash, debit and credit cards, etc.
• Connected Banking: Connected banking helps you with bank reconciliation. It ensures online banking with all the integrated banks within the billing software. This module will help you manage bank transactions such as RTGS, NEFT, etc.
• Rack Management: Rack management is an essential part of store inventory management as it enables you to track multiple items according to their place in the rack. This helps you to identify their location during billing and even create a rack-wise stock report.
• Share Quotations: Sharing quotations with prospects can streamline the billing process, reducing back and forth. The billing software can help you create estimates and quotations that you can share with your customers or prospects. Later, you can easily convert these into invoices when they get approved.
• Re-Order Management: Re-order management ensures you don't run out of inventory. It allows you to restock popular items by analyzing the existing sales data. Using this module, you can automatically place re-orders to your vendors for items running out of stock.
• Loyalty Points: The retail billing system can increase your sales and repeat customers by offering loyalty points to either first-time customers or those who have at least shopped several times from you. Afterwards, your customers can redeem these points on their next purchases, that too, within a specific frame of time.

Benefits of Billing Software for Retail Shop

• Cost-Effective: Anything manual requires paper and pen, increasing overhead costs. It requires an excess of both time and money, but with a billing system for retail shops, you can keep a record of everything. Save every little information in the software with complete security.
• Instant Updates: Get instant inventory updates automatically with Billing software for retail and wholesale. These updates help in maintaining the inventory levels as needed. All information about the items sold is stored and updated in the software.
• Instant Invoices: The invoicing module helps manage payment receipts for different products in different branches. With the help of this module, you can get all the details like the number of products sold, types of items sold, etc. Whether its online payment or billing, you can instantly send and print invoices to anybody with the help of billing software for retail shops. It will help you print or send invoices directly to the customers. Instant invoices help enhance customer satisfaction, with instant details about the item's purchases.
• Accessibility: Accessing the data about your retail business from anywhere and anytime. This helps in tracking every purchase and its payments. Access any information and share it with your stakeholders through reports, spreadsheets, and visuals.
• Integrates with Other Software: Retail billing software can integrate with other applications like CRM, inventory, and many more. This way, it can coordinate with all other software applications. This makes it easier for anyone to view the updates and reports about their company on a single platform.
• Complete Control Over Business: Retail invoicing software gives you a complete picture and control over your sales operations. You can check sales, ITC, returns, etc., at your multiple stores on a single dashboard.
• Data Backup: Automatic backup of billing details enables retail stores to save important and confidential data. This protects you from any data loss and syncs the required information when connected to the internet.
• Multi-Device Compatibility: Online retail billing software can be accessed from anywhere, at any time, using any device, with just an internet connection. This allows you to stay updated with billing functions, even on the go.

Modules of Retail Billing Software

• Inventory Management
• Banking
• Invoicing
• Tax Management
• Vendor Management
• Financial Accounting
• Reporting & Analysis

Things to Consider Before Buying Billing Software for Retail Shop

• Requirements: Different retail shops might have different requirements. One should choose its retail billing software accordingly. One should take care of its integration support, compatibility, hardware, and software requirement before choosing an online billing software for a retail shop.
• Costs: The budget should be considered while selecting the right retail billing software for your business. Take into consideration both recurring as well as non-recurring costs like installation and maintenance costs while finalizing the best retail billing software you are planning to buy.
• Usability: The billing software for retail store you plan to buy should be user-friendly so that your employees don't resist the change. You can also go for software that provides training or demos of operating their software.
• Reporting: The feature of reporting is important for any retail billing software. Make sure you choose software that can create reports according to your requirements.
• Cloud vs On-premise software: Retail billing software can be of 2 types: cloud and on-premises. Both of them have very different requirements and the cost of installation. Their specifications might vary even in terms of usability and data security. Analyze the software you are choosing carefully before buying it.

Top 10 Best Billing Software For Retail Shop

Here is the list of best retail billing software for retailers:

Top 10 Retail Billing Software In India
Retail Billing Software	Starting Price	Free Trial
myBillBook	₹471/Year	Yes
Vyapar Billing Software	₹724/Year	Yes
Ginesys	₹3,000/User/Month	Yes
RoyalPOS	₹5,899/Location/Year	Yes
Marg POS	₹8,496/Year	Yes
EffiaSoft Just Billing	₹16,709/Year	Yes
Dynamic POS	₹1,416	No
Peddle Plus	₹6,499/Year	No
Unisolve Software	₹14,160/User/Year	No
Quickbill	₹15,300	No

Billing Software for Retailers

• Small business: The retail billing software for small businesses helps in keeping clarity and accuracy by keeping track of their sales and transactions from the beginning.
• Cloth store: You can easily manage your cloth store's business with billing software for retail cloth shops. Track down your earnings and expenses are displayed in real-time and manage your business performance effectively.
• Pharmacy shop: The billing software for medical retail pharmacy shops helps to grow your medical shop business efficiently & effectively exponentially. Easily generate invoices, keep inventory track, generate effective sales and purchases reports, do end-to-end accounting, and file GST returns with digital payments & online deliveries.
• Retail garment shops: The billing software for retail garment shops helps you manage customer transactions directly. This readymade garment shop billing software with barcodes can also help to track sales and generate accurate invoices.
• Mobile showroom: The best software for billing in mobile retail showrooms helps mobile phone and accessories shops to manage billing, inventory, stock management, and more.

Device Compatibility of billing software for retail store

• Windows retail billing software: Works on Windows Platforms
• Online retail billing software: Works on all platforms as it is web-based
• Billing app for retail shop: Works on Mobile devices