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Accounting software allows the computer to simplify basic accounting tasks including general ledger, budgeting, receivables, invoicing, payables, payroll, inventory, job & project tracking, purchasing, banking and reconciliation.
Accounting software is available at various levels of functionality to suit anyone from personal or small business users to large corporations.
The convenience of accounting software is derived from it's ability to quickly search a large volume of information, produce reports, compare information, cross reference data, locate errors, and maintain several years worth of information on a disk where it can remain organized and easy to retrieve if the need arises. Examples of accounting software are Quickbooks, MYOB, Simply Accounting and Peachtree Accounting.
Another type of accounting software, sometimes referred to as "checkbook management software" or "home finance software," is extremely popular for personal use. Two popular examples of this type of personal accounting software is Intuit "Quicken" and Microsoft "Money." This software is ideal for keeping track of income and expenses by category or classification in a variety of accounts such as checking and savings, loans, mortgage, credit cards and cash. The software can reconcile bank accounts, search for information, print reports and charts and transfer the information to an income or business tax preparation software package.
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