Best Retail Accounting Software

Best retail accounting software is Vyapar, Freshbooks, Xero, Brightpearl, AccountEdge Pro, Fourlane, and Output Books. Manage all the accounts, transactions, invoices, and audits with some accounting software while ensuring your business can thrive and prosper.

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List of 20 Best Retail Accounting Software

Showing 1 - 20 of 33 products

Contenders | 2024

Best-in-class Cloud Accounting & Financial Managem

Sage Intacct is a cloud-based financial statement solution designed for small and mid-sized businesses. This robust and innovative software automates critical finance and accounting processes besides providing users with real-time financial insights. Read Sage Intacct Reviews

Category Champions | 2024

Cloud Accounting Software Making Billing Painless

This bookkeeping software makes your accounting tasks easy, fast and secure. Start sending invoices, tracking time, and capturing expenses in minutes. We uphold a longstanding tradition of providing extraordinary customer service and building a product that helps save you time because we know you went into business to pursue your passion and serve your customers - not to learn to account. Read FreshBooks Reviews

Category Champions | 2024

Vyapar is a GST-compatible invoicing and accounting solution for small businesses. You can use it to create GST bills, fulfill orders, generate GSTR reports, track payments/expenses, and manage your inventory. Besides, you can use it to customize invoices and collect payments online. Read Vyapar Reviews

Most Reviewed

Category Champions | 2024

Xero is award-winning web-based accounting software for small business owners and their accountants. It is beautifully designed and easy to use online bookkeeping for expense management. Read Xero Accounting Reviews

Emergents | 2024

Brightpearl is software for retailers that integrates orders, inventory and customer data across channels. Brightpearl exists to help multi-channel retailers accelerate their growth and profits. Learn more about BrightPearl

Emergents | 2024

AccountEdge is the complete solution for small business of accounting. It tracks assets, liabilities, double entry, bank accounts, balance, income, and expenses. Also, generate an annual budget for the upcoming year. Read AccountEdge Pro Reviews

Category Champions | 2024

The only Digital solution provider to all business

GOFRUGAL is the only complete digital solution provider to retail, restaurant and distribution business. With over 14+ years, they have acquired 25,000+ customers across 60+countries. It has the largest product portfolio like - Desktop POS, Cloud POS, Mobile apps. Read GOFRUGAL POS Reviews

Category Champions | 2024

MARG Billing is specifically software designed to provide support to Individual or Chain Business like Retail, Distribution, Manufacturing, ERP, Accounting and Payroll. Marg understands the demands of all different users, so Marg decided to design billing software whichever is capable of performing the requirements of users. Read Marg ERP9+ Billing & Invoicing Software Reviews

Emergents | 2024

Software by Fourlane, Inc

FourLane is one of the best QuickBooks Solution Providers that offers a host of QuickBooks-related services such as consulting, hosting, programming, reporting, file review, training, data conversion, and much more. Contact now for a free consultation. Learn more about Fourlane

Contenders | 2024

Smart GST Ready Billing Software for your Business

Output Books is the Smart GST-ready accounting, and invoicing management software for small business owners. Create professional Invoices, Track Dues, and Manage your accounts effortlessly. Read Output Books Reviews

Emergents | 2024

Flare Accounting is a fully featured Bookkeeping Software designed to serve Startups, SMEs. Flare Accounting provides end-to-end solutions designed for Web App. This online Bookkeeping system offers Bank Reconciliation, Billing & Invoicing, Expense Tracking at one place. Learn more about Flare Accounting

Contenders | 2024

HostBooks, an automated all-in-one accounting & compliance software provides you with a comprehensive platform for GST, TDS, eWay Bill Accounting, Tax & Payroll. Read HostBooks Accounting Reviews

Emergents | 2024

Epicor's POS system for the retail industry streamlines and simplifies each task by its new features- new navigation and a new Support bar. You can consider it as best POS system for retail that increases the productivity by tracking the sales more efficiently. You will this POS system smarter and faster from the other ones. Learn more about Epicor Retail

Category Champions | 2024

QuickBooks is an online accounting software for business owners to make stay on top of their finances. Easy to use interface, 100% data security and features such as Online bank connect and Whatsapp integration helps business owners to focus on growing their business. Read QuickBooks Online Reviews

Contenders | 2024

Sage offers a complete desktop accounting software that helps you spend less time managing your accounts and more time developing your business. With its easy to use interface, Sage 50cloud Accounting has aided small businesses and entrepreneurs to operate efficiently and effectively. Special Offer: 40% off Sage 50cloud annual subscriptions | Coupon Code: D-1929-0020. Read Sage 50cloud Reviews

Contenders | 2024

Lightspeed OnSite does a lot more than just let you take payments. It’s built for the realities of running a retail business day-to-day, like managing your inventory, keeping track of your customers, and understanding your store’s sales results. Read LightSpeed Reviews

Emergents | 2024

Billing & Subscription Management Software

Pabbly Subscriptions is a recurring billing and subscription management software that automates the entire subscription lifecycle. Moreover, it provides you with an effortless dashboard wherein you can easily manage all transactions, plans, products, etc under one roof. Read Pabbly Subscriptions Reviews

Contenders | 2024

100% free accounting for your small business

Wave's accounting tool is 100% free, secure, and accountant-approved. Use Wave Accounting to connect your bank accounts, sync your expenses and balance your books to ensure you're ready for tax time Read Wave Accounting Reviews

Emergents | 2024

Software by Kashoo Cloud Accounting Inc.

Kashoo is the easiest online software at the affordable cost for the accounting. It designed to manage the entire system of the small to medium business. It updates all the finance with real-time and manages cash flow. Read Kashoo Reviews

Emergents | 2024

OneUp is the most trusted and experienced solutions to small business for accounting. Seamlessly provide an invoice, inventory, and CRM. Support with mobile based solution to manage any features anytime anywhere. Also having facilities to create/get a relevant quote. Learn more about OneUp

Retail accounting software guide

What Is Retail Accounting Software?

Retail accounting software is designed to support retailers in handling their retail business by providing several corresponding tools. Since these systems offer many services in one place and simplify the operation of a store, accounting software for retailers may benefit shop owners.

You can use a retail accounting software program to perform daily tasks like checking out clients, handling and purchasing inventory, and keeping track of finances quickly. For example, a retail accounting software program might include inventory management, POS (Point of Sale), CRM, etc.

Benefits Of Retail Accounting Software For Retail Businesses

Benefits Of Retail Accounting Software

A retail business owner must manage inventory, sales tax, payroll, and POS. You must know how to merchandise goods, advertise and promote, manage stocks, provide customer service, analyze the market, and so on. You can get the most out of your retail store accounting software if you implement it frequently in your daily business activities. Here are some possible advantages:

  1. Increases Efficiency

    Consumer data can be gathered and stored using retail accounting software, which you can use for advertisements, offers, and many other purposes. Moreover, retail accounting software organizes, streamlines, and optimizes everyday business operations, reducing the need to repeat manual processes.

  2. Enhances Inventory Management

    Retail accounting software allows retailers to keep a record of current inventory & define additional lists they need to function smoothly. This will enable them to place the correct purchase orders and eliminate surpluses.

  3. Automates Reporting

    Almost all accounting programs include standard reports and the capability to build custom ones if needed. This enables buyers to make critical decisions rapidly without spending time manually gathering information.

  4. Handles Promotion

    A retail management software system enables companies to schedule promotions, forecast, and analyze the results. This allows them to give discounts and incentives to their customers while monitoring their effects on brand productivity.

Who Can Buy Retail Accounting Software?

There are three major classifications of buyers that most businesses generally fall into, so you'll want to focus on programs that cater to your category:

  1. Small Buyers

    This is typically the case for retailers with fewer than five locations, but if they run a few large stores, they may fall into one of the other two categories. These small buyers typically need an affordable accounting solution that integrates with their point-of-sale system. They usually have specific accounting needs.

  2. Enterprise Integrated Suite Buyers

    In contrast to the best-of-breed buyer, these buyers prefer a system with fully integrated point-of-sale, inventory control, and accounting functions in one place.

    Further, you may use modules for storage management, inventory planning, or multi-channel administration. Since accounting functionality does not vary much from system to system, many purchasing decisions will be driven by POS and inventory control needs

  3. Enterprise Best-Of-Breed Buyers

    In addition to having substantial investments in inventory control and point-of-sale systems, these larger retailers are looking for standalone accounting programs rather than replacing their existing systems.

    Integration, flexibility, and scalability are usually requirements for these buyers, who typically have many smaller stores or more than five locations.

Key Features Of Retail Accounting Software

Most retail accounting software platforms offer a wide range of valuable features, but what should you look for in accounting software for a retail business? The following are some convenient features you should consider:

Features Of Retail Accounting Software

  1. Inventory Management

    The best accounting software that can track inventory will allow you to increase profitability and reduce overhead expenses by seamlessly managing inventory and costs across companies and channels

  2. Multi-Channel Selling

    There should be immediate updates to the online retail accounting software about the items available through each distribution channel. This is particularly true when the technology can hold inventory on new orders immediately, as you won't risk selling the same commodity to more than one person or running out of inventory simultaneously.

  3. Receipt/ Barcode Scanning

    You can scan and catalog any receipt as income or expense. Also, with barcode scanning, inventory management programs can print barcodes to keep their products conveniently identified and discoverable. This enables an inventory management system to track the position of objects.

  4. Time-Tracking

    Tracking your employees' hours can help you calculate their wages, which helps if you have several employees.

  5. Project Profitability Tracking

    Analyzing product profits can help you know if a project should be cut loose, so you can use this tool to determine if it's a good idea to continue.

  6. Multi-Currency Payments

    It may be optional for some, but receiving payments in multiple currencies is highly critical if you serve globally.

  7. Point-of-Sale (POS)

    The right Point-of-Sale (POS) software can assist your customers with a seamless buying process and provide your sales associates with the necessary information to engage them.

  8. Supply Chain Management (SCM)

    Retail store accounting software should provide features like order management, fulfillment, warehouse management, returns, and other built-in functions for managing supply chains.

Tips For Using Retail Accounting Software

You will get the most out of your online retail accounting software if you regularly use it. Here are a few beneficial suggestions to assist you in maximizing your retail business accounting software:

Tips For Using Retail Accounting Software

  1. Record Every Transaction

    Register every deal, investment, employee payment, and tax bill to make a clear picture of your industry.

  2. Reconcile & Verify

    You must check your trades regularly (at least twice a week).

  3. Gather Vital Tax Info

    Ensure that your payroll and tax information is securely stored, and check local laws to ensure you must maintain it for tax and payroll purposes.

  4. Maintain a Properly Defined Ledger

    Get help setting up ledgers in your accounting software for the shop - an accountant can assist you here.

  5. Update Ledgers

    You will want to avoid falling behind if the business is brisk, so move your sales and purchase receipts into your ledger daily or at least 3/4 times a week.

  6. Weekly/Monthly Checks

    Have your financial consultant or accountant review your ledger at least once/twice a week to avoid discrepancies and detect cash flow shortages as soon as they arise.

  7. Regular Reporting

    Make the most of your retail business accounting software’s powerful features. The best accounting software for retail businesses can construct valuable statements to assist you in gaining better knowledge of your company and its implementation.

  8. Document Everything

    Invoices, receipts, and payment notifications for Inventory or payroll should all be kept in order.

  9. Separate Your Personal From Business

    Preserve distinct bank accounts for individual and company finances. Also, set up separate funds for payments and incoming earnings. It may appear like additional work, but it can support you in catching disparities earlier.

  10. File Tax Returns Regularly

    It will help if you stay up-to-date on all the government deadlines, including tax returns, employee returns, and all other required reporting. You can visit the government's website for a list of critical dates.

  11. Keep an Eye On The Cash Flow

    Make sure you keep a close eye on your cash flow regularly. Share this information with someone you trust, such as your accountant, so you don't get caught off guard by a cash crisis.

How To Select The Right Retail Accounting Software?

Today's accounting software is not just for accounting; it's also connected to other apps, giving you access to hundreds of tools that help you run your retail business. Here are some things to remember when selecting accounting software for retail business:

  1. Does it function on the cloud?

    You will be able to access your accounts from anywhere at any time. You will reduce support costs, back up your account automatically, and connect it to other apps easily.

  2. Is it intended for retail?

    Research the online platforms and characteristics carefully to decide whether the retail accounting system works.

  3. How extensible & scalable is it?

    Extensible means adding new elements to the accounting software for the shop by buying renewed add-on enterprise apps as your firm expands. Scalable means it can grow as your organization does, allowing you to add new users whenever required.

  4. Is it capable of recording transactions & managing payroll?

    Many accounting software handles transactions. However, payroll may require an upgrade. Make sure you check before buying.

  5. Does it track inventory?

    Some do, and others don't. But it can be effortlessly attached to third-party apps that can. Do your investigation before putting your money in, as this is valuable for retailers.

    If you ever intend to use retail accounting software, ensure all your essential information is safely archived. It includes sales records, loan statements, bank information, and tax records. You'll require it for your tax returns and in the circumstance of an audit.

5 Best Retail Accounting Software

ERP software providers offer a complete package of retail accounting software. ERP solutions contain a robust accounting and financial management module with all different enterprise and practical tools to address inventory, product planning, trade, etc.

Here are 5 of the best accounting apps for retail to help you get started:

1. QuickBooks Online

QuickBooks Online

QuickBooks Online is one of the most widely used for retail business accounting. With QuickBooks Online, you can track revenue, develop invoices, handle bills, and track inventory. Online accounting software for retail shops allows you to oversee your inventory and sales from one location.



  • It is effortless to send invoices
  • QuickBooks online is relatively easy to use and user-friendly
  • Easy to use reports for taxes at the end of the year
  • It ensures transparency by enabling accountants and auditors to access the data at any time


  • QuickBooks Online needs to be faster to resolve tech issues
  • Customer service needs improvement
  • While the premise of bookkeeping cleanup is excellent, the implementation could be better


  • Self-Employed - $15 per month
  • Simple Start - $25 per month
  • Plus - $75 per month

2. Sage 50Cloud

Sage 50Cloud

Among the best accounting software for small businesses is Sage 50cloud. This software is made for small business owners, including most retail companies. It incorporates core accounting features & tools for automating accounting processes, managing inventory, time and expense tracking, budgeting, invoicing, and billing. You can add office and communication tools, payroll systems, and credit card processing to your platform.


  • Cash flow and invoicing
  • Payments & Banking
  • Advanced inventory management
  • Job costing
  • Sage Security Shield


  • Effortless and straightforward to use
  • Easy invoice entry & reporting
  • Sage 50 delivers exceptional month-end reporting
  • Easy payroll system


  • Remote access can occasionally fall over
  • The help desk has exceptionally long wait times
  • The application is sometimes slow to load


  • Sage 50 Pro Accounting - $299 per year
  • Sage 50 Premium Accounting - $449 per year
  • Sage 50 Quantum Accounting 3 User - $1,499 per year

3. Lightspeed Accounting

Lightspeed Accounting

Lightspeed accounting is among the leading retail accounting software options for your retail business. Among the tools offered by the solution are inventory management, retail store management, time and expense tracking, payment processing, purchase order management, customer profiles, integration of accounting software, and integration of point-of-sale devices like barcode scanners and receipt printers.


  • Inventory management
  • Customer relationship management
  • Employee management
  • Payment processing
  • Payroll integrations


  • It's easy to keep track of the inventory & editing
  • 24/7 maintenance and support
  • The system links objects, deals, customers, and sales teams seamlessly
  • POS is easy to use and learn, customizable, and cost-effective


  • It can only handle a few orders at a time
  • A few bugs are there, and it crashes often
  • The interface needs improvement


  • Starts from $60 per month billed monthly

4. Wave


Wave is the best free accounting software for small retail businesses. Besides supporting double-entry bookkeeping, it offers unlimited access to records and financial reports that are always available, along with unlimited invoicing and expense management.

Invoice, receipt scanning, payment processing, and payroll apps are integrated into Wave Accounting solution, which is integrated with Shoeboxed expense tracking software.


  • Customizable invoices
  • Invoice Scheduling
  • Recurring billing
  • Finance management
  • Online client portal for invoices


  • Invoices with automated reminders
  • Simple categorized transaction records
  • Wave is effortless to use and comprehend
  • Reporting features are excellent


  • Customer service needs improvement
  • Wave will revise/revoke payment services without forewarning
  • Reconciliation could be better


  • It is free to use.

5. NetSuite ERP

NetSuite ERP

Whatever your business size or industry, NetSuite ERP is one of the best accounting software for small retail businesses that provide a fully integrated, highly scalable solution. In addition to combining financial management operations with business intelligence, this software also helps companies make informed decisions based on data.

With NetSuite ERP, you can automate several accounting tasks, including financials, inventory tracking, orders, revenue, Inventory, billing, and sales tax. It also includes a retail management component that enables you to transform your business into a seamless omnichannel commerce platform.


  • Automate financial processes
  • Gain Inventory Visibility
  • Supply Chain Optimization
  • Flawless Order Management
  • Global Business Management


  • NetSuite is great at tracking financials and budgeting
  • Customizable reports & forms
  • It can manage numerous business units & support multi-currencies
  • NetSuite has highly knowledgeable customer support


  • Managing numerous profiles for end users can be challenging
  • Some reporting components take time to navigate
  • Implementation is complex for users, and there is no free trial


  • Custom pricing

Market Trends Related To Retail Accounting Software

Retail accounting software is affected by several software trends. Here are a few of the primary trends:

Trends Related To Retail Accounting Software

  1. Software As A Service (SaaS)

    It is usual for accounting programs to migrate to SaaS. We usually encourage customers to view this model open-mindedly since SaaS accounting systems can ease IT burdens and reduce upfront costs.

  2. ERP Vendors As Retail Vendors

    For decades, software corporations like Microsoft have supplied accounting programs or ERP solutions. Users would have to use a separate operating system for every accounting package.

    Over the years, these providers have developed extensive capabilities so that people in the retail business can use them for accounting, inventory control, warehouse management, and point of sale


It is essential to choose retail accounting software capable of handling and meeting the unique needs of your business. In addition to accounting, tracking payments, and developing financial statements, it must control inventory, expenses, investment orders, traders, consumers, multi-channel deals, and global operations.

Last Updated: January 02, 2024