is a valuable resource for any business in today’s technologically savvy world. Accounting software is basically a computer program that helps bookkeepers and accountants in recording a business’ financial transactions. Hundreds of different types and brands of accounting software are available and they vary in complexity and cost. Ecommerce accounting software may be developed in-house specifically for the company using it, contracted and developed from a third party, or purchased as a software package. Accounting software offers detailed tracking of financial transactions, almost instantaneous reporting and in-depth analysis. This reduces the cost and time spent using old-fashioned methods where transactions were posted by hand in large accounting journals.
Ecommerce accounting software is composed of various modules dealing with different areas of accounting. The most common are: