The General Ledger (GL) is the primary accounting record for a business. It tracks all financial transactions and is used to generate the company’s financial statements, including the Income Statement and Balance Sheet. The GL summarizes the organization’s various financial accounts and transactions, such as accounts receivable, accounts payable, fixed assets, and inventory.
Accounting software makes it easier for you to track your business's financial health and monitor the money moving in and out of your accounts. It can create invoices, track expenses and generate a variety of reports that help you analyze your business's performance from various angles. Many applications can also help you track your bills and manage your inventory or projects.
Accounting software offers many features and tools that can help you manage your finances. It should cater to your business's needs, making it easy to accomplish routine accounting tasks. It should also help you see the big picture of how your business is performing.
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Every business will have different requirements from an accounting software. When choosing an accounting software consider the following questions:
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