Running a pharmacy today goes far beyond stocking medicines and dispensing prescriptions. Pharmacists juggle billing, inventory management, GST compliance, supplier payments, bank reconciliations, and customer receipts, all while trying to deliver excellent healthcare service.
Traditionally, pharmacy owners and managers have had to use separate systems for billing, accounting, and banking. This fragmentation often leads to delays, manual errors, and limited financial visibility.
Marg ERP has changed the game with Connected Banking, a powerful feature built into Marg pharmacy software. Connected Banking integrates key banking services directly into the ERP platform, making financial operations smoother, faster, and more accurate, all without leaving the software you use every day.
In this blog, we will explore what Connected Banking is, how it works in Marg Pharmacy Software, and why it’s an essential feature for pharmacies across India.
What is Connected Banking in Marg Pharmacy Software?
Connected Banking is a feature inside Marg ERP that links your pharmacy’s bank account directly with the software. Instead of logging into online banking portals and then updating accounting records manually, you can now perform key banking tasks, such as payments, reconciliation, and balance checks, from within Marg’s pharmacy billing software itself.
This brings banking, billing, and accounting together on a single platform, saving time and drastically reducing manual effort.
Banking Partners of Marg ERP for Offering Connected Banking
Marg ERP help chemists and distributors save upto 70% of their time with connected banking with leading nationalised banks and auto bank reconciliation with over 140 banks. Current list of banks with which Marg ERP has collaboration includes;
- ICICI Bank
- SBI Bank
- Axis Bank
- J&K Bank
- IndusInd Bank (in pipeline)
This means you don’t have to switch between your bank’s internet banking and your pharmacy’s billing and accounting software. Whether you are making payments, checking balances, scheduling transactions, or reconciling records, everything happens inside the Marg ERP.
Each of these bank partnerships ensures secure, real-time access to your financial data. ICICI Bank, SBI, Axis Bank, and J&K Bank are some of India’s most trusted banking institutions, offering extensive branch and ATM networks across the country.
With these integrations, Marg makes it easier for pharmacies, especially small and medium-sized businesses, to manage their bank transactions digitally without manual double entry.
Why Connected Banking Matters for Pharmacies.
In a busy pharmacy environment, financial tasks like reconciling bank statements or making supplier payments can be a drain on time and resources. Without an integrated system, pharmacists often must export bank statements, manually match transactions with invoices, and ensure GST data aligns with accounting entries, increasing the risk of human error.
Connected Banking removes all of these headaches. It brings essential banking operations into a single unified workflow, integrated with your GST billing software, accounting, and inventory modules. This not only speeds up daily operations but also improves accuracy, compliance, and financial clarity.
Key Features of Connected Banking
Here are the major features that make Connected Banking in Marg Pharmacy Software indispensable;
Bank Account Integration
Once you connect your pharmacy’s bank account with Marg ERP, you can check your bank balance, view recent transactions, and monitor cash flow directly from the software dashboard. This saves time and gives you a real-time picture of your finances.
Direct Payment from Marg Pharmacy Software
With Connected Banking, you can make payments, including NEFT, RTGS, IMPS and other transfers, directly from Marg ERP. You don’t have to log into your bank’s portal to pay vendors or suppliers. This makes payment processing easier and faster while lowering the risk of errors or duplicate payments.
Automatic Bank Reconciliation
Bank reconciliation is traditionally one of the most time-consuming tasks for pharmacies. Connected Banking automates this by matching transactions from your bank with entries in the software. The system flags mismatches so you can resolve them quickly, keeping your accounts accurate and audit ready.
Auto Ledge Posting
Bank transactions made through Connected Banking automatically generate the corresponding journal entries in Marg ERP. This eliminates manual posting and ensures that your accounting remains up to date, an essential feature for any reliable pharmacy software.
Advanced Reporting and Statements
Connected Banking allows you to view and download bank statements directly inside Marg ERP. You can generate customised reports to see your financial position at a glance, making decision-making easier and faster.
Connected Banking and GST Compliance
GST compliance demands accurate records of sales, payments, and bank entries. When your banking is disconnected from your billing and accounting systems, reconciling this data for GST returns can be tedious. Connected Banking helps eliminate reconciliation issues, ensuring that your payment entries align with your tax reports. This makes Marg an effective GST billing software solution, not just a billing or accounting tool.
Benefits of Using Marg ERP as the Best Pharmacy Software in India
Marg Pharmacy Software is widely regarded as one of the best pharmacy software in India because it goes beyond billing. With features like Connected Banking, inventory management, GST compliance, accounting, and detailed reporting, Marg offers a complete business solution for pharmacies of all sizes.
With Connected Banking, you get:
- Time savings by automating manual bank tasks
- Faster payment processing
- Better cash-flow clarity
- Error-free accounting records
- Enhanced GST compliance
- A unified system for billing, banking, and accounting
This integrated approach makes Marg an indispensable tool for pharmacy owners who want to focus more on patient care and less on administrative burden.
Conclusion
Connected Banking in Marg Pharmacy Software accomplishes just that by bringing your bank account into the same system you use to manage billing, inventory, and GST compliance. With secure integrations to major Indian banks such as ICICI Bank, SBI, Axis Bank, and J&K Bank, Marg ERP offers seamless financial operations that save time, reduce errors, and improve decision-making.
Frequently Asked Questions
What is Connected Banking in Marg Pharmacy Software?
Connected Banking links your pharmacy’s bank account with Marg ERP so you can make payments, check balances, and reconcile transactions from within the software.
Which banks can be integrated with Marg ERP?
Marg ERP supports integration with major banks in India including ICICI Bank, SBI, Axis Bank, and J&K Bank.
Can Connected Banking help with GST compliance?
Yes, it ensures that payment entries align with GST records, making GST reconciliation simpler,
Do I need separate banking software if I use Connected Banking?
No, you can perform most banking tasks such as payments and reconciliation directly inside Marg ERP.
Is my financial data safe with Connected Banking?
Yes. The integration uses secure, bank-level encryption to protect your financial information
