Cost effective solution is the most effective approach for business owners just commencing their business. Accounting software has cut down the operational costs many folds. Costs have been cut down on stationary, workforce, and several other indirect ways. A cut down on workforce also saves costs on seating, electricity, computers that would have been required with a larger workforce previously required for accounting solutions. When it comes to small businesses, even the owner can manage accounts using a software completely avoiding the workforce costs. One of the most important benefits is the cost effectiveness of software-based accounting solutions.