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Accounting software is an application that records classifies and summarizes business transactions and events into meaningful results. Among various accounting software in the market, only the advanced one is capable of interpreting the results thereof.
Latest accounting software functions as an accounting information system. It features functional modules such as accounts payable, accounts receivable, payroll, and trial balance.
There are several accounting software currently available to both accounting professionals and non-accounting entrepreneurs. Accounting software may be developed in-house by the company or organization using it, may be purchased from a third party. It is important that the accounting software can be customized if it was purchased from a third-party.