What is Accounting software?
Accounting software is a type of computer software used by accounting professionals to manage accounts and perform accounting operations.
Accounting is the systematic practice, work or process of communicating and recording financial information. In a business setting, this is done for the purposes of internal and external audits, required reports and financial analysis to meet legal or internal managerial requirements. Accounting may also include systematic and diverse measurement, classification, verification, summation and interpretation of financial information.
Accounting software can range from simple, single-entry programs used for individual record-keeping to more sophisticated, double-entry systems that can process accounts receivable, accounts payable, payroll and inventory, among other functions.