Question

Uses of pre-packaged accounting software

Answer 1

Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, journal, general ledger, payroll, and trial balance. It functions as an accounting information system. It may be developed in-house by the organization using it, may be purchased from a third party, or may be a combination of a third-party application software package with local modifications. Accounting software may be on-line based, accessed anywhere at any time with any device which is Internet enabled, or may be desktop based. It varies greatly in its complexity and cost.[1]
The market has been undergoing considerable consolidation since the mid-1990s, with many suppliers ceasing to trade or being bought by larger groups.

Answer 2

Accounting software is a type of application software that records and processes transactions data within functional modules such as accounts payable, accounts receivable, journal, etc. It acts as an accounting information system.

Pre-Packaged Software are those which are made earlier of the main package. These are not user specified softwares. That is why they are not easily available in the market. It records the details like VAT number PAN number etc.

Pre package softwares are easy to use as they are menu driven.Also it is very cost effective.