ProfitBooks

Best accounting system for businesses of all sizes

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What is ProfitBooks?

ProfitBooks is cloud accounting software for small businesses, freelancers, retailers, and service providers, built for users with no accounting background. It covers invoicing, bookkeeping, bank reconciliation, expense tracking, inventory across multiple warehouses, and 45+ financial reports.

Pricing of ProfitBooks

Startup

INR

Free

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1 User
10 Invoices a month
10 Journal Vouchers for month
Basic Financial Reports
1 Warehouse

Essential

INR 2499

/year

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1 User
1000 Invoices a year
GSTR1 & GSTR3B
Invoice Reminders & Signature
WhatsApp Integration (Add-on)

Growth

INR 4999

/year

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10 Users
5000 Invoices a year
Payroll Management
Multicurrency Support
3 Warehouses

SMB Pro

INR 7500

/year

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25 Users & Custom Roles
Unlimited Invoices
Unlimited Warehouses
Projects Feature
Auditor Access

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Key Features of ProfitBooks

Key Features:

Bar code Integration
Email Integration
HR & Payroll
Investment
Job Costing
Mobile Support
Multi Location
Online document storage (back-up)
POS invoicing
Production Management
Quotation & Estimates
Warehouse Management
Banking Integration
Budgeting
Financial Management
Inventory Management
Invoice
Manufacturing
Multi Currency
Multiple Company
Outstanding
Product Database
Supplier and Purchase Order Management
Taxation Management
Multi User login & Roll based access
Project Management
Taxation Management
Accounts payable
Bank Reconciliation
Billing & Invoicing
Purchasing
VAT / CST / GST Reports
Access your Data on the Go
Project Accounting
Banking Integration
Customer Management
Inventory Management
Product Database
Supplier and Purchase Order Management
Recurring invoice
Time Tracking
Accounts Receivable
General Ledger
Analytics
Financial Accounting
TDS / TCS
Web-based reporting
Bonus, Loan & Advances Management
Expense Management
Payment Gateway Integration
Payroll Management
Cash Management
MIS Reports
Document Printing
Multi-Branch Connectivity
Accounting
Expense Tracking
Vat
Invoice Designer
Vendor Management
Accounts Receivable
Bills of Material
Scheme Management
Service Tax
Checks & Controls
Trading Excise Registers
Collections
Quotation & Estimates
Utilities
Investment
Accounting
Asset Breakup
Asset Budgeting
Asset Life cycle Management
Asset Management
Audit Trail
Bank Reconciliation
Bar code Scanning
Bar coding / RFID
Billing & Invoicing
Budgeting
Business performance dashboard
Compliance Management
Contacts and smart lists
Data Security
Depreciation Calculation
Depreciation Management
Disposal Management
Document Management
Expense Claims
Fast Search
Fixed Asset Register
Fixed assets
Formula Driven Calculation
Full-Fledged Security Module
Inventory Management
Lease Information
Lease Management
Multi Company
Multi shift depreciation
Multi-Currency
Pay bills
Payroll Management
Reporting
Tax Management
Vendor Management

Key Specification

Other Categories:	Accounting Software Personal Finance Software GST Software Billing and Invoicing Software Fixed Asset Accounting Software Supermarket Billing Software POS Billing Software Restaurant Billing Software Retail Billing Software Bar Code Billing Software Wholesale Billing Software Pharmacy Billing Software Fund Accounting Software Recurring Billing Software Legal Billing Software Accounts Receivable Software Accounts Payable Software Accounts Payable Automation Software Subscription Billing Software Medical Billing Software Business Software Deals GST Billing Software Hospital Billing Software Utility Billing Software
Deployment:	Cloud Hosted
Customer Support:	Phone,Live Chat,Online (Ticket)
Customization:	Yes
Languages Support:	English

Who uses ProfitBooks

Personal

StartUps

SMEs

Agencies

Enterprises

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Company Details

Company Name:	ProfitBooks
Headquarter:	Park street, Colombo Sri lanka
Social Media:	Facebook Twitter LinkedIn

ProfitBooks Description

Why Choose ProfitBooks?

Businesses can choose ProfitBooks to simplify financial management and organize their accounting activities within one platform. The software combines invoicing, expense tracking, bookkeeping, bank reconciliation, inventory management, and financial reporting, helping businesses reduce their dependence on spreadsheets and disconnected tools. Users can create professional invoices, monitor outstanding payments, record expenses, and review financial performance through centralized dashboards and reports.

ProfitBooks is designed for business owners who may not have extensive accounting knowledge. Automated tax calculations, organized transaction records, and bank reconciliation tools help simplify routine financial tasks. Businesses can also manage customer and supplier information, track inventory across multiple warehouses, and collaborate with accountants through configurable user access. A free Startup plan is available for eligible basic requirements, while paid plans provide additional capabilities such as multiple users, inventory management, and priority support. Its combination of accessibility, accounting functionality, and business management tools makes it worth considering for small and growing businesses.

Benefits of ProfitBooks

ProfitBooks helps businesses simplify accounting, improve financial visibility, and manage everyday operations more efficiently.

Simplified Accounting: Record income, expenses, purchases, sales, and other financial transactions in one place.
Professional Invoicing: Create customized invoices, estimates, quotations, and sales orders.
Improved Cash Flow Visibility: Monitor outstanding receivables, supplier payments, and upcoming financial obligations.
Reduced Manual Work: Automate selected accounting calculations, invoice processing, and bank reconciliation tasks.
Better Inventory Control: Track stock levels, purchases, sales, transfers, and inventory across multiple warehouses.
Tax Management: Calculate applicable taxes and organize tax-related information for reporting and filing.
Accurate Financial Reports: Generate balance sheets, profit and loss statements, cash flow reports, and transaction summaries.
Simplified Bank Reconciliation: Import bank statements and match transactions against recorded financial entries.
Improved Supplier Management: Maintain vendor records, track payments, and review outstanding balances.
Team Collaboration: Provide employees and accountants with appropriate access to business information.
Better Business Decisions: Use financial and inventory reports to understand performance and identify operational issues.
Accessible Cloud Accounting: Access business records through supported web browsers and mobile applications.

How to Use ProfitBooks

Businesses can start using ProfitBooks by creating an account, configuring company settings, and recording their financial transactions.

Create an Account: Sign up for ProfitBooks and choose the available plan that suits your business requirements.
Set Up Your Business: Enter company information, financial details, and applicable tax settings.
Add Customers and Suppliers: Create contact records containing relevant business, billing, and tax information.
Configure Products and Services: Add products, services, prices, units, and inventory details where required.
Create Invoices: Generate invoices, estimates, quotations, and sales orders for customers.
Record Expenses and Purchases: Enter business expenses, supplier bills, and purchase transactions.
Manage Inventory: Track stock movements, purchase orders, sales orders, and warehouse quantities if inventory features are enabled.
Reconcile Bank Transactions: Import supported bank statements and match transactions with recorded receipts, payments, and expenses.
Manage Payments: Record customer receipts, supplier payments, and outstanding balances.
Review Financial Reports: Analyze income, expenses, cash flow, inventory, and outstanding receivables and payables.
Collaborate With Your Accountant: Invite an accountant or other team members using the available user permissions and plan features.

The exact setup and available functionality depend on the selected subscription and business requirements.

Features of ProfitBooks

ProfitBooks provides accounting, invoicing, inventory management, and financial reporting capabilities for small and medium-sized businesses.

Invoicing and Billing: Create professional invoices, estimates, quotations, sales orders, and related documents.
Expense Management: Record business expenses, categorize transactions, and review spending patterns.
Accounts Receivable: Track customer invoices, overdue payments, receipts, and outstanding balances.
Accounts Payable: Maintain supplier bills, vendor payments, advances, and outstanding dues.
Inventory Management: Monitor stock quantities, product movements, purchases, and sales.
Multi-Warehouse Management: Track inventory across multiple warehouse locations where supported.
Purchase Order Management: Create purchase orders and organize supplier purchasing activities.
Bank Reconciliation: Import bank statements and match transactions against accounting records.
Financial Accounting: Maintain a chart of accounts, record journal entries, and organize business transactions.
Tax Management: Calculate applicable taxes and prepare tax-related reports based on configured requirements.
Financial Reporting: Generate balance sheets, profit and loss statements, cash flow reports, and transaction summaries.
Customer and Supplier Management: Maintain contact details, tax information, payment histories, and transaction statements.
Payroll Management: Access payroll capabilities available under the applicable subscription.
Multi-Currency Support: Manage transactions in different currencies where supported.
User Management: Assign roles and permissions to employees, accountants, and other team members.
Mobile Access: Access supported business accounting functions through mobile applications.
Audit Trails: Review transaction histories and supported activity records for better accountability.
Project and Timesheet Tracking: Organize project-related activities and time records through available functionality.

Feature availability may vary according to the selected plan and current product configuration.

What Makes ProfitBooks Different?

ProfitBooks differentiates itself through its focus on accessible cloud accounting for small businesses and business owners who may not have formal accounting training. The platform combines invoicing, bookkeeping, bank reconciliation, expense tracking, inventory management, and financial reporting in one application, reducing the need to maintain separate spreadsheets for everyday financial activities.

Another distinguishing factor is its emphasis on simplifying routine accounting tasks. Users can create invoices, record expenses, track customer and supplier balances, and generate financial reports without manually preparing every calculation. Its bank reconciliation tools help match imported bank transactions with recorded entries, while its reporting capabilities provide visibility into cash flow, profitability, outstanding payments, and inventory.

ProfitBooks also offers a free Startup plan for businesses with basic accounting requirements, alongside paid plans with additional capabilities. Its support for customer and supplier management, multiple warehouses, and team access makes it useful for businesses that need more than basic invoicing. This combination of affordability, accessibility, and integrated accounting functionality makes ProfitBooks worth considering for freelancers, retailers, service providers, and growing small businesses.

Who Can Benefit from ProfitBooks?

ProfitBooks can benefit businesses and professionals that need to manage invoices, expenses, inventory, and financial records through a centralized accounting system.

Freelancers: Create invoices, track payments, record expenses, and monitor income.
Small Businesses: Maintain accounting records, manage cash flow, and generate financial reports.
Retail Businesses: Track sales, inventory, customer payments, and purchasing activities.
Manufacturing Companies: Monitor inventory, raw materials, production-related records, and supplier transactions through available features.
Wholesale Distributors: Manage purchase orders, stock levels, customer invoices, and supplier payments.
Service Providers: Create professional invoices, record operating expenses, and track customer balances.
Agencies and Consultants: Manage client billing, project-related financial records, and business expenses.
Accountants and Bookkeepers: Review financial transactions, reconcile bank statements, and prepare reports.
E-Commerce Businesses: Organize sales, expenses, inventory, and customer payment records where supported.
Growing Businesses: Move from spreadsheets to a centralized accounting system with additional user access.
Multi-Warehouse Businesses: Track inventory across different locations through supported inventory features.
Business Owners Without Accounting Expertise: Manage routine bookkeeping and financial reporting through a simplified interface.

ProfitBooks is particularly suitable for small and growing businesses that want accessible accounting and invoicing tools without the complexity of a large enterprise financial system.

Is ProfitBooks Easy to Use?

ProfitBooks is designed to make accounting accessible to business owners, freelancers, and small business teams without requiring extensive accounting knowledge. Its interface allows users to create invoices, record expenses, manage customers and suppliers, and review financial reports through organized workflows. The software handles selected accounting calculations in the background, helping users focus on daily business operations instead of manually maintaining multiple spreadsheets.

Features such as invoice templates, bank statement imports, transaction matching, and ready-made financial reports can simplify common accounting tasks. Users can also invite accountants or team members with appropriate access permissions, allowing multiple people to work with the same business information when their subscription supports it. Cloud access and mobile applications provide additional flexibility for managing business records.

However, users may still need to learn how to configure tax settings, categorize transactions, manage inventory, and interpret financial reports correctly. Businesses with complex accounting structures may require assistance during setup. Users should explore the available demonstration, documentation, and trial options to determine whether ProfitBooks meets their operational needs.

What Support Does ProfitBooks Offer?

ProfitBooks provides support resources designed to help businesses set up the software, understand its features, and manage their accounting activities effectively.

In-App Chat Support: Offers assistance through in-app chat in multiple languages, with availability subject to the published support schedule.
Help Center: Provides articles and instructions covering company setup, invoicing, expenses, inventory, banking, accounting, and reports.
Getting Started Guides: Help new users configure their accounts and begin recording business transactions.
Video Tutorials: Provide demonstrations and guidance for common software functions.
Product Documentation: Explains features such as invoice creation, bank reconciliation, inventory management, and user permissions.
Accounting Guidance: Helps users understand the available workflows for recording transactions and reviewing financial information.
Onboarding Assistance: Paid plans may include onboarding and training services, depending on the applicable subscription.
Priority Support: Available with eligible paid plans according to the current subscription terms.
Accountant Collaboration: Allows businesses to invite accountants or auditors using the access options available in their plan.
Remote Bookkeeping Services: ProfitBooks also advertises bookkeeping and tax-related assistance for businesses seeking additional professional support.

Support hours, onboarding arrangements, and specific services depend on the selected plan. Businesses should confirm the current support terms directly with ProfitBooks before subscribing.