Accounting software helps you with the 3 R's . . . Record Reconcile Report . . . Record your transactions. Reconcile your transactions with your bank statements. Reports for your accountant to use for income tax returns and financial statements if you need them. And reports for you to see where your money went!
You record and reconcile cash transactions. Then you report summaries of those transactions to your accountant who prepares your annual tax returns etc. Your accountant will post the general ledger account summaries of transactions to a working trial balance if you require a balance sheet and profit loss. If you only need an income tax schedule your accountant will simply post the expense accounts directly to your tax returns. And will post your balance sheet accounts to a depreciation schedule etc.
There are training movies at Acnsof's web site www.acnsof.com
