Accounting Software That Updates as You Bill
Financial accounts management built into your billing, so receivables, payables and profit are always up to date.
Accounts that build up while you work
Most small businesses keep accounts twice: once in the bill book and again when the accountant enters everything into accounting software. VelBooks removes the second step. Because billing, purchases and payments are recorded in the same app, your financial accounts reflect them as you go.
- Customer and supplier accounts with what is owed to you and what you owe
- Record payments received and made against parties
- Track business expenses
- Cash and bank balances
- Financial reports to understand sales, purchases and profit
Accounting basics every owner should know
You don't need to be an accountant to run good books, but a few ideas help you read your numbers:
Receivables and payables
Receivables are what customers owe you; payables are what you owe suppliers. In most trading businesses, cash problems come from receivables growing quietly. Review your outstanding list every week and follow up on the oldest amounts first.
Profit is not cash
A month can show a profit while your bank balance falls, because stock purchased and credit given use cash before it comes back. Watch profit and cash together.
Gross margin
Gross margin = (sales − cost of goods sold) ÷ sales. If you sell for ₹1,00,000 goods that cost you ₹80,000, your gross margin is 20%. Compare margins across categories to decide what to push and what to drop.
Keep GST separate
GST collected on sales is not your income. Keep it aside for your GST payment, and claim input tax credit only on eligible purchases that appear in GSTR-2B.
Month-end in 30 minutes
- Make sure all sales and purchase bills for the month are recorded.
- Record payments received and made, and match them with your bank statement.
- Review outstanding receivables and send reminders.
- Check stock for your top items.
- Review the month's sales, expenses and profit, and prepare for GST returns.
What you do vs what VelBooks records
| You do this | VelBooks records |
|---|---|
| Create a sales invoice | Sale, GST collected, the customer's balance and stock reduction |
| Enter a supplier bill | Purchase, GST paid (input tax), the supplier's balance and stock increase |
| Receive a payment | Customer balance reduced; cash or bank balance increased |
| Pay a supplier | Supplier balance reduced; cash or bank balance reduced |
| Record an expense (rent, salary, transport) | Expense under its head; cash or bank reduced |
That is the whole idea of accounting built into billing: you do the work once, and the books follow. Your CA can review the same records.
Billing + accounting in one app vs separate accounting software
| Excel / notebook | Separate accounting software (e.g. Tally, Zoho Books) | VelBooks (billing, stock and accounts in one) | |
|---|---|---|---|
| Sales entered | By hand | Re-entered from bills, or synced | Once, at billing |
| Stock linked to accounts | No | Depends on edition | Yes |
| Who can use it | Anyone, error-prone | Often an accountant | Owners and counter staff |
| Access | One file | Desktop or cloud, depending on product | Browser on any device |
| Depth of accounting | Basic | Deep (full ledgers, audit features) | Day-to-day accounts for traders; CA can review |
| Price | Free | Free plans to paid licences | From ₹299/month + GST |
If your CA needs advanced features, many businesses bill in an all-in-one app and share reports with the CA. Compare honestly: VelBooks vs TallyPrime, VelBooks vs Zoho Books.
Books you must keep under GST
Section 35 of the CGST Act and Rule 56 require every registered business to keep true and correct accounts at its principal place of business, including:
- Production or manufacture of goods, where relevant
- Inward and outward supplies (purchases and sales)
- Stock of goods, with opening balance, receipts, supplies, write-offs and closing balance
- Input tax credit availed
- Output tax payable and paid
Accounts may be kept electronically. Under Section 36, keep them for 72 months from the due date of the annual return for the year (longer if there is an appeal or proceeding). Software that records sales, purchases, stock and payments together makes this far easier. CGST Rule 56 (CBIC). General information, not tax advice.
Frequently asked questions
What is the best accounting software for a small business in India?
Is VelBooks a replacement for Tally?
Do I need accounting knowledge to use VelBooks?
Can I see my accounts on mobile?
What is the easiest accounting software for a small business?
Is Tally free for small businesses?
Is Zoho free for accounting?
How long must I keep accounting records under GST?
Run billing, stock and your online store from one app
Sign up at app.velbooks.com and use the full app free for 30 days. Questions first? Call or WhatsApp us.
Or call +91 81472 70720 · admin@finacc.in