In a business sense, accounting and financial software can cover a variety of financial tasks including accounts payable, accounts receivable and payroll. Some of the other essential capabilities include billing, a record of stock or inventory for products, sales orders, purchase orders and general bookkeeping.
More advanced features of finance and accounting software can include electronic payment processing, timesheets, expense entry, and accounting broken down by department.
Today’s financial and accounting software provides an automated means for end-to-end generalized accounting management, as well as tools that provide for forecasting and planning, and tracking of cash flow.
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