There are a number of COTS packages which have been designed for specific industries. It also provides reports that can be customized depending upon the user’s requirements.
It is can be customized to meet the requirements of businesses and provide multiple stages for the detection of data errors. If the organization is small, the chances of making errors are fewer.Ĭommercially off-the-shelf software is one of the most widely used software across the globe. However, there is a chance of accounting errors when it comes to spreadsheets, as data entered in the charts are done manually. Moreover, it can be customized easily, depending upon the needs of the business. The prices of leading spreadsheet software available in the market is inexpensive. Overall, the diverse account software list can be classified into four categories:Įlectronic spreadsheets are one of the most convenient accounting tools for small businesses.
Before choosing from the wide variety of accounting software solutions, understanding different types of accounting software is crucial.
