Accounting Software
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An Accounting Software is an application software that can support accounting tasks.
- Context:
- It can (typically) facilitate the recording and processing of Accounting Transactions.
- It can (typically) provide features such as:
- Financial Transaction Recording
- Accounts Payable and Accounts Receivable management
- Invoice Generation
- Financial Statement preparation
- Expense Tracking
- Income Tracking
- Bank Account Reconciliation
- Payroll Management (in some cases)
- ...
- It can (often) integrate with other business software and financial tools.
- It can (often) provide real-time financial insights and reporting capabilities.
- It can (often) facilitate tax preparation and compliance.
- ...
- It can range from being a Personal Accounting Software to being an Enterprise Accounting Software.
- It can range from Free Accounting Software to being a Premium Accounting Solutions with advanced features.
- ...
- It can be Cloud-based Accounting Software or Desktop Accounting Software.
- It can incorporate Artificial Intelligence features for tasks such as:
- ...
- Example(s):
- Cloud-based Accounting Softwares such as:
- Desktop Accounting Softwares such as:
- AI-powered Accounting Softwares such as:
- Personal Accounting Softwares focused on budgeting and personal tax preparation.
- ...
- Counter-Example(s):
- H.R. Software, which focuses on human resources management rather than financial accounting.
- Customer Relationship Management (CRM) Software, which primarily manages customer interactions and sales processes.
- Project Management Software, which may track project-related expenses but doesn't provide comprehensive accounting features.
- See: Locally Modified Software, Accounts Payable, Accounts Receivable, Payroll, Trial Balance, Accounting Information System, Outlier Detection, Chart of Accounts, Financial Management, Cloud Computing, Software as a Service (SaaS), Enterprise Resource Planning (ERP), Artificial Intelligence in Accounting
References
2015
- (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/accounting_software Retrieved:2015-9-22.
- Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance. It functions as an accounting information system. It may be developed in-house by the organization 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 on-line based, accessed anywhere at anytime with any device which is Internet enabled, or may be desktop based. It varies greatly in its complexity and cost.
The market has been undergoing considerable consolidation since the mid-1990s, with many suppliers ceasing to trade or being bought by larger groups.
- Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance. It functions as an accounting information system. It may be developed in-house by the organization 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 on-line based, accessed anywhere at anytime with any device which is Internet enabled, or may be desktop based. It varies greatly in its complexity and cost.