Question

Explain ‘Generic’ and ‘Customised’ accounting software.

Hint:

Generic software is economical and quick to deploy. Customised software improves efficiency for complex business needs.

Answer 1

Generic Accounting Software:
Pre-packaged software used by a wide range of businesses.
It includes common accounting features like ledger, cash book, inventory, etc.
Example: Tally, Busy, Marg.
Customised Accounting Software:
Tailored software designed for specific needs of a particular business or industry.
It includes specialised modules and automation based on client workflow.
Example: Custom ERP software for large enterprises.