Accrual accounting software is a type of accounting system that records transactions and events as they occur rather than when payments are received or made. This allows businesses to better track their financial performance and generate accurate statements over time. Accrual accounting software can help businesses ensure that all income and expenses are properly accounted for, providing greater visibility into the health of their business. This system also better facilitates month-end closings, enabling companies to more effectively manage cash flow, plan for future expansions, and make informed decisions about investments.