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Accounting software is a program that can run on a computer to track the total value of a company. Accounting software can be downloaded to a computer or can be used through a browser window by logging into a website.
Before computers all accounting information was stored in books called "ledgers". A general ledger was the book where the accountant wrote down all payments that came into a company and all payments that were made. A common term for keeping track of this information is called "keeping the books". A bookkeeper is another term for an accountant, but can sometimes means a person who does accounting but maybe doesn't have as much formal education as an accountant.
Accounting software can automate many of the more menial tasks of accounting. For example, many accounting software companies automatically pull in bank information. Instead of having to put in the payments made and cashed received, the program does it for you.
What accounting software does[change | change source]
- Manage purchases and sales
- Manage Inventory
- Keeps track of customers
- Keeps track of payments and income
- Records all financial transactions
- Can help you put all your expenses and income into the right category
- Invoice creation
Popular examples[change | change source]