What are the features of computerized accounting software?

At its core, accounting software automates your bookkeeping. Think of it as a digital replacement for traditional ledgers.

Key features include creating and tracking sales invoices and managing supplier bills. A massive time-saver is automatic bank reconciliation, which matches bank transactions to your records. It generates vital financial reports instantly, like your Profit and Loss statement and Balance Sheet.

For businesses here in the UK, a crucial feature is its ability to calculate and prepare your VAT returns for HMRC. Modern systems are usually cloud-based, offering real-time data from anywhere. It's all about boosting efficiency and providing a clear, accurate financial overview of your business at a moment's notice.