Financial accounting software refers to a suite of applications and programs used by businesses to record, analyze, report, and track their financial transactions. It’s an essential tool for any business: it helps them keep better records of their money, track which bills are due, assess the financial health of the company, and give stakeholders insight into the overall performance of the business. With the right financial accounting software, businesses can quickly assess the real picture of how their finances are looking at any given time—and make important decisions with confidence.