Accounting software is designed to automate much of the accounting process and also with a purpose to make accounting much easier, accurate, and error-free, but at the same time it is important to understand the accounting fundamentals, as relying solely upon technology may end up in certain disadvantages. Speed, accuracy reign supreme, and this is the reason why accounting software is preferred by a majority of people. Some of the other advantages of accounting softwares are: simplification, accurate forecasting, productivity, cost savings, tax compliance, ease of use, improved digital skills, etc. The very first negative point about this technology is the learning time that might be consumed in certain cases. For the ones who are unaware of the policies of the accounting world, may find this accounting software much harder to operate. Also, the cost of purchase, support, and maintenance is another drawback.

Abhijith S

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