Online accounting startup, ReachAccountant has secured first round of funding from Rajan Anandan and Rehan Yar Khan.
Over 1000 SMB’s in Chennai and Bangalore currently use Reachaccountant.com to prepare their accounts automatically. The application helps small businesses save more than 80% on the cost of accounting and reduces their bookkeeping time by over 50%. Unlike traditional accounting software, Reachaccountant.com imports transactions from Bank Current Accounts and categorises them automatically.
ReachAccountant vs. Tally – A Comparison
| FEATURE | REACH ACCOUNTANT | TALLY |
| Daily Bank Feed | Available | Not Available |
| Auto-Bank Reconciliation | No | No |
| Web-Based, No Installations | Yes | No |
| Payroll | Yes | Available only in ERP |
| Inventory | Yes | Yes |
| I-phone/ Android Application | No | No |
| Multi-Currency | No | No |
| Bulk Import from Excel | Yes | No |
| Add-ons | Few | Nil |
| Accountant Support | Has support accountants | No |
| Invoicing | Yes | Yes |
| Indian Tax Reports | Yes | Yes |
| Price of comparative plans ( without accountant support ) in India | Rs. 1000/- p.m | Rs. 40,000 one-time for ERP |
| White Label Solution | No | No |
| Accountant Module | Ready Now | Yes |
Update: from comments by Pluggd.in readers:
Tally does support multi-currency.
2. Tally supports bulk import from excel.
3. Tally has hundreds of add-ons (known as TDLs) available from dealers or TallyShop (http://
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Post funding, Rajan Anandan will join the board of Reachaccountant.com.
“It is imperative for every business to have a great accounting system. But more often than not, SMBs cannot find a one stop solution for their accounting needs. Reach Accountant has stepped in to fill this void with its unique cloud based solutions. We are very excited about the growth trajectory of the business and look forward to working with Robin to build a very innovative Cloud company” [Rajan Anandan]
Ashish Sinha