MS to Launch SMB Accounting Software

Microsoft said on Friday that it would launch its small business accounting software at a summit in Redmond on September 7. Analysts say that the company is hoping to directly challenge Intuit, the leader in the sector. The application will be part of a new version of Office aimed at small and mid-sized businesses (SMB), code named "Magellan."

Last November, the company released a beta of the software to the public. Over the past several months Microsoft has refocused on SMBs by launching new products aimed at the market. The company has already released customer relation tools, with a new version of that software due early next year.