Accounting software manages and records the day-to-day financial transactions of an organization, including fixed asset management, expense management, revenue management, accounts receivable, accounts payable, sub-ledger accounting, and reporting and analytics. A complete accounting system keeps track of an organization’s assets, liabilities, revenues, and expenses. These transactions then populate the general ledger in real-time, providing CFOs, treasurers, and Controllers immediate access to real time, accurate financial data. It also allows P&L owners visibility into their performance at the operational level. The systematic recording of these financial transactions enables the production of quarterly and annual financial statements, including balance sheets, income statements, statements of cash flows, and statements of stockholders’ equity.
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