What is ERP Accounting Software?

To simplify the use of ERP accounting software, you can follow the steps mentioned below:

Install an ERP software and access it through a web browser.

Set up user accounts and grant permissions based on different roles.

Create your chart of accounts and categorize income, expenses, assets, liabilities, etc.

Customize accounts to fit your organization's specific needs.

Link your bank accounts and credit cards to automatically import transactions.

Ensure all the security measures are in place for data encryption and access control.

Now, start manually adding income and expense-related transactions, or you can also import them from your bank feeds.

Generate financial statements like balance sheets, income, and cash flow statements.

Customize reports to analyze financial performance and make informed decisions.

Once done, integrate your ERP accounting software with other business systems (e.g., CRM, inventory management) for seamless data flow.

Ensure data consistency across platforms.

There isn't a single "best" accounting software, as the ideal choice depends on your business size, industry, and specific needs. Popular and highly-rated options include Tally (a market leader in India, especially for SMBs), Zoho Books (user-friendly and great for small to medium businesses with automatic bank feeds), and QuickBooks (a comprehensive solution for real-time insights and productivity). For freelancers, FreshBooks is a recommended choice, while Xero offers strong bank integrations and a clean layout.

Wave, Zoho Books, Akaunting, and GnuCash are the best free accounting tools for startups in 2025.