Explain sourcing of Accounting Software
Answers
Explanation:
Accounting software is a computer program that assists accountants in recording and reporting a firm's financial transactions. ... Accounting software makes retrieving old accounting data easier, which is helpful for internal and external audits.
Accounting software procurement is an essential component of a computerised accounting system. The accounting knowledge of those in charge of accounting work in the organisation is an essential issue to consider before purchasing accounting software. Accounting is handled by people, not machines.
Accounting software is required in one of two scenarios: (a) when computerised accounting is adopted to replace a manual system, or (b) when the current computerised system must be replaced with a replacement one because of changing demands.