Accounting software is a computer program that assists bookkeepers and accountants in recording and reporting a firm's financial transactions. The functionality of accounting software differs from product to product. Some of the major areas in which accounting software is used are: invoicing and billing, online payments, expense tracking, bank reconciliation, timesheets and project management, inventory management, tax compliance, report generation etc. Most commonly used accounting softwares are: QuickBooks Accounting, Xero Accounting, FreshBooks Cloud Accounting, Wave Accounting, Sage 50 Accounting etc. Speed, accuracy reign supreme, and this is the reason why accounting software is preferred by a majority of people. Some of the disadvantages about this technology is the learning time that might be consumed in certain cases. Also, the cost of purchase, support, and maintenance is another drawback.

Abhijith S

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