If you’re referring to the Microsoft Office Accounting software, that application was actually discontinued by the company in 2009. Microsoft now offers a range of ERP systems with accounting capabilities in its Dynamics software line, and both Dynamics SL and Dynamics NAV include accounting features. If you’re more interested in an accounting-specific solution, you might consider other programs.
QuickBooks is one of the top accounting solutions, available as an on-premise or on-demand solution. It includes all of the key features – you can track payments and inventory, manage payroll, customize your invoices, and more. Sage 50 Accounting is one of QuickBooks’ largest competitors, and a platform worth looking at if you want another option.
Also keep in mind that if you’re looking for a solution specifically for small businesses, a program like Xero would be an SMB-specific (and affordable) option.