Accounting software is a type of automated system that helps bookkeepers and accounting professionals report and document a company’s financial transactions. Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, journal, general ledger, payroll and trial balance. It functions as an accounting information system. It may be developed in-house by the organisation using it, may be purchased from a third party or may be a combination of a third-party application software package with local modifications. Accounting software may be web based, accessed anywhere at any time with any device which is Internet enabled or may be desktop based. It varies greatly in its complexity and cost. Personal accounting software is mainly targeted towards home users, supporting accounts payable-type accounting transactions, managing budgets and simple account reconciliation, at the inexpensive end of the market.

Rohit Senan C

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