Definition of Bookkeeping Software | Simplified Recordkeeping

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Bookkeeping Software Definition

Definition
Software that allows the user to record daily financial transactions for a business. Bookkeeping software can simplify recordkeeping for a business by serving as a digital replacement for traditional business ledgers and other business books.

Extended Definition
There are several different types of bookkeeping software available to business owners. Some are desktop programs, while others are online software. Some may use the cash basis or accrual basis accounting methods. Finally, the features may vary, but many bookkeeping software programs offer invoicing and basic reports, such as profit and loss statements.

Related Articles:
Accounting Basics: What Do Small Business Owners Need to Know?
Simple Bookkeeping: Using the Cash Method

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