The growth of business accounting software has been increasing at a break-neck pace. The competition for takeover and consolidation only heated up with the entry of larger players such as Microsoft and Sage. An accounting software records and processes accounting transactions of a business within its functional modules. There are great variations in the cost and complexity of an accounting software. An organization can either build its own accounting software or can purchase it from a service provider.

There are various functional modules of accounting software such as they can be divided in to various sections of accounting. The most core modules are as follows:

1) General ledger which is the company's financial "books".
2) Stock/Inventory section that keeps track of the inventory of the company.
3) In the Accounts Payable section, the company enters its bills and pays money of owes.
4) In the Accounts Receivable section, money received is entered.
5) Billing is the section where the company produces invoices to the clients.

There are different categories of accounting software which are described briefly in the following. Personal Accounting software are mainly meant for home users. They are simple and inexpensive with simple functioning such as managing budgets. The Low end accounting softwares are meant for small business markets that are capable of serving a single national market. It is characterized by 'single entry' products. While mid market accounting softwares are for people with large businesses. These softwares are capable of serving the needs of multiple national accountancy standards and allow accounting in multiple currencies. On the other hand, high end accounting softwares are complex and expensive business accounting software that are also known as Enterprise resource planning or ERP software.

One very good business accounting software is the Peachtree Complete Accounting from Sage. It includes the robust, multi-user option accounting features and helps provide the valuable controls that you need. You can better manage your accounting and business with advanced features such as the Business Status Center, Peachtree Bill Pay2, job costing, time and billing, and fixed assets. If you want multi-user ready software then this is the software for you. You can pay your bills online with this software. You can also track and manage fixed assets with this software.