Cloud Accounting Software in India with AI Assistance

1. Automates Routine Tasks & Reduces Manual Errors

• Automated data entry and transaction categorization
• Recurring invoicing and payment reminders
• Seamless bank reconciliation with synced feeds
• Real-time updates across ledgers and journals
• Reduced human error in daily operations

Real Life Use Case of Accounting Software for Marketing Agency

A fast-growing service business (marketing agency) switched to Refrens after struggling with repetitive accounting tasks and manual follow-ups. Their team was spending hours every week on invoice creation, payment tracking, and reconciliations. After moving to Refrens, smart automation features like recurring invoicing, auto-categorization, and payment reminders took over the grunt work. The intuitive interface required no steep learning curve, enabling the team to focus on growth instead of admin. As a result, they saw improved cash flow, reduced overdue payments, and a more professional financial process overall.

Boosts productivity, saves time, and improves accuracy.

2. Provides Real-Time Financial Visibility

• Instant financial snapshots with live dashboards
• Customizable reports: P&L, balance sheet, cash flow
• Drill-down views for granular transaction insights
• Identifies trends, anomalies, and cash flow gaps

Real Life Use Case of Refrens Accounting Software for a Growing Startup Founder

A co-founder of a fast-scaling tech company used to rely heavily on their accountant to generate monthly Income Statements (Profit & Loss Reports). This dependency caused delays in reviewing revenue performance and making timely decisions, especially during closing periods or while planning for investor meetings. After adopting Refrens and activating Freya, the AI-powered accounting assistant, they no longer had to wait. Now, the founder simply types a question like “What was our monthly revenue for May?” and Freya instantly provides the answer, complete with supporting data. This shift enabled the leadership team to access real-time insights within seconds, empowering faster financial decision-making without bottlenecks.

“With Freya, I get my revenue reports in seconds, no more waiting for the accountant. It’s like having a real-time CFO I can talk to anytime.”

Empowers faster, data-driven decisions with clarity.

3. Simplifies Tax Compliance & Reporting

• Automated GST and TDS calculations
• GSTR-1, GSTR-3B, and other filings made easy
• Built-in audit trails and historical transaction logs
• Always updated with the latest tax rules

Many businesses, especially those with high monthly transaction volumes, struggle with GSTR-2B reconciliation, manually verifying each purchase record before filing returns. This process often leads to delays, errors, and late filings that can trigger penalties or ITC mismatches. Using Refrens accounting software, these businesses now reconcile their GSTR 2B data automatically before creating their returns. This eliminates the need for manual line-by-line verification, ensuring cleaner records and on-time GST filings. Additionally, Refrens makes GST billing easier during daily operations by offering built-in options for inclusive and exclusive GST calculations while generating invoices. This reduces billing errors and helps maintain consistency across documents submitted for compliance.

“Earlier, we had to cross-check each GSTR-2B entry manually; now, Refrens AI accounting software handles it. It saves us hours every month, and we file on time without second-guessing.”

Reduces stress and prevents penalties.

4. Improves Cash Flow Management

• Real-time AR & AP tracking
• Invoice due date alerts and dunning automation
• Integrated payment gateways for faster collections
• Cash flow forecasting tools for planning ahead

For many Indian tech companies, especially those dealing with international clients, collecting USD payments used to be a time-consuming process riddled with currency conversion delays, follow-ups, and invoicing errors. One tech company simplified this process entirely using Refrens' online accounting platform. With multi-currency invoicing and built-in payment links, they now raise bills in USD and get paid faster, without chasing clients or managing currency issues manually.

Another growing tech service company needed a solution that could keep up with their scaling operations. With Refrens, they now issue GST-compliant invoices, track payments automatically, and stay on top of receivables with real-time aging reports and follow-up reminders.

Enhances liquidity, shortens payment cycles, and supports working capital.

5. Enables Strategic Financial Planning

• Budget creation based on past spending behavior
• Profitability analysis across departments or projects
• Cost control through variance analysis
• Forecasting tools to model growth or hiring plans

Real Life Use Case of Refrens Cloud Accounting for UpGrad

UpGrad, a leading edtech company, needed to generate a detailed report of vendor-wise expenses for a specific period to assess outstanding liabilities and manage vendor payments efficiently.

Using Refrens’ integrated accounting and expense management system, they were able to:

• Bulk upload vendor data and expense records in a single action
• Instantly generate a report showing how much was spent with each vendor
• Identify exactly how much was still payable, vendor by vendor

This helped their finance team:

• Plan upcoming payouts with precision
• Improve vendor relationship management
• Avoid delayed payments or interest penalties

This use case shows how Refrens enables larger organizations to move from reactive spending to proactive budgeting and payment planning.

6. Streamlines Inventory & Operations

• Auto-update stock levels after sales or purchases
• Batch, expiry, or serial number tracking
• Inventory valuation and COGS reports
• Tightly linked with invoices and purchase orders

Several businesses across industries like electronics, hardware supplies, fire safety, solar equipment, and food products have adopted Refrens to bring structure and visibility into their inventory operations. Before switching, many of them relied on **Excel sheets or siloed tools to manage stock **, often leading to:

• Overstocking, which tied up working capital
• Stock-outs, which delay deliveries or sales
• No batch tracking, especially critical in food, pharma, and fire safety

With Refrens’ integrated inventory module, these businesses now:

• Track real-time stock availability
• Use batch-wise and expiry-based tracking for perishable or regulated items (e.g., cocoa powder, fire extinguishers)
• Monitor multi-warehouse stock across locations
• Get automated alerts for low stock and overstock situations
• Sync inventory directly with invoicing and accounting, reducing mismatch errors

By integrating inventory with other business functions, these companies improved operational efficiency, freed up blocked capital, and prevented fulfillment delays—resulting in smoother day-to-day operations and better cash flow planning.

When integrated accounting with inventory, it becomes the engine of end-to-end business control.

7. Secures Sensitive Financial Data

• Role-based access control for team permissions
• Automatic cloud backups & disaster recovery
• Audit logs and version control
• Anomaly alerts to detect fraud or manipulation

For many businesses considering accounting software, one of their first questions is: “Will my financial data be secure?”

With Refrens, the answer is backed by action. As an ISO-certified organization, Refrens meets stringent international standards for data security and privacy. The system is hosted on secure cloud infrastructure with automatic backups, meaning users no longer have to manually save files, worry about hard disk crashes, or manage version control. Several businesses have adopted Refrens specifically after confirming its ISO certification. The added benefits of role-based access control, user permission settings, and frequent system security updates give finance teams full control over who can view, edit, or access sensitive financial information.

Protects your business from loss, fraud, and downtime

8. Team Collaboration & Transparency

• Multi-user access with defined roles
• Central repository for all invoices, expenses, and records
• Easy sharing with accountants, auditors, or consultants
• Commenting, approvals, and notes on transactions

Many businesses that previously used entry-level accounting tools ran into a serious limitation: no real control over who sees what. Every team member had full visibility into financial data, leading to operational risks. After switching to Refrens, they gained the ability to assign granular roles and permissions across:

• Modules like invoicing, CRM, reports, inventory, and accounting
• Sub-modules like quotations, credit notes, ledger entries, or journal approvals

Owners can even create custom user roles for accountants, salespeople, interns, or external advisors, each with tailored access.

“Refrens is the first platform where I could give my sales team access only to quotations, not financial data. That control helped us grow without compromising trust.”

This level of access control is a game-changer for teams that want to scale operations without sacrificing security.

Centralizes financial data and aligns internal + external stakeholders.

When it comes to choosing accounting software, the decision is often led by CAs in India and not the founders, CEOs, or business owners. While CAs are finance experts, it’s usually the founder who initiates the search to find an accounting software that provides clarity, control, and growth insights.

However, smart businesses bring both perspectives together. Founders want dashboards and decisions, CAs want compliance and control. The right accounting software should serve both purposes.

Checklist for founders, CEOs and business owners (Searching for Accounting Software)

Focus - Visibility, Decision-making, and Control

Priority Area	What to Check in the Software	Why It Matters
Revenue Visibility	Real-time dashboard showing revenue trends by client, product, or SBU	You need instant answers, not monthly reports
Profitability Insights	Profit per project/client, gross margin tracking, cost center analysis	Guides pricing, hiring, and strategic decisions
Cash Flow Forecasting	Inflow/outflow projections, overdue alerts, auto-reminders	Prevents sudden cash crunches and working capital gaps
Business Intelligence	AI-driven insights, anomaly detection, goal vs actual comparisons	Helps stay proactive, not reactive
Investor Reporting	Downloadable P&L, balance sheet, cash flow in PDF/XLS formats	Needed for investor updates, loans, and board reviews
Multi-Branch Tracking	SBU-level reports, consolidated vs. split view of operations	Ideal for businesses with multiple locations or teams
Founder-Friendly UX	AI assistant (like FREYA), no jargon, mobile reports	Saves time for non-finance founders
Team Collaboration	Role-based access, approval flows, CA-level visibility	Enables delegation without losing control
Product Evolution	Feature voting, public roadmap, fast support	Ensures the software grows with your business needs

Checklist for CAs and Accountants (Searching for Accounting Software)

Focus: Compliance, Audit, and Operational Accuracy

Priority Area	What to Check in the Software	Why It Matters
Compliance & Filing	GSTR-1, GSTR-3B, GSTR-2B reconciliation, e-invoicing, TDS, TCS, e-way bills	Ensures timely government compliance
Chart of Accounts	Editable structure, journal entry control, compliant ledger formats	Required for statutory filing and books finalization
Reporting Accuracy	Auto P&L, trial balance, cash flow, GST reports	Reduces manual effort and risk of errors
Audit Readiness	Full audit trail, transaction logs, version history	Streamlines audits and financial checks
Data Security	ISO certification, encryption, permission controls	Protects client data and ensures regulatory compliance
Import / Export	Excel/CSV uploads, Tally import/export support	Saves time during data migration or software switch
Role-Based Access	Module-level, sub-module control, CA-specific views	Lets accountants work independently without interfering with business data

The right accounting software doesn’t just balance books; it powers better business decisions and saves time and money for everyone involved.