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The two resources that organizations can track using accounting management software are customer relationships and supply chain resources.
What is accounting management software?
Accounts payable, accounts receivable, fixed asset management, expense management, subledger accounting, reporting, and analytics are just a few of the daily financial transactions that are managed and recorded by accounting software for an organization.
The assets, liabilities, revenues, and expenses of a company are all tracked by a complete accounting system. CFOs, treasurers, and controllers can then immediately access accurate financial data that is updated in real time as a result of these transactions in the general ledger. Additionally, it gives P&L owners access to information about their operational performance.
Financial statements, such as balance sheets, income statements, cash flow statements, and statements of stockholders' equity, can be produced on a quarterly and annual basis thanks to the systematic recording of these financial transactions. Enterprise resource planning (ERP) systems include accounting software as a crucial element.
Learn more about accounting software
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