Accounting Software are applications that assists book keepers in easy management and automation of accounting processes. Accounting software is used to effectively and efficiently handle the financial management operations of a company. There are many reasons why accounting software has been greatly adopted by many businesses. The most important one is that these software help businesses reduce their accounting costs. Operational costs can also be easily identified by these software applications. Many manual and repetitive tasks which are prone to error can be performed by accounting software. Businesses often need to create financial reports for in-house use or for investors. Accounting software helps with the creation of detailed, comprehensive and accurate financial reports that can help businesses better understand their financial standings and make critical monetary decisions. Financial analysis and forecasts can also be done with accounting software. With the aid of these technological tools, companies can understand their accounting data and use it to predict the future. There are several types of accounting software, and a business needs to select one based on its needs.