In filing quarterly results with the US Securities & Exchange Commission, the software giant said its business division had made losses of $68m ($43m) on revenues of $107m.
Microsoft signalled its attentions to move into the lucrative accountancy software market with the purchases of Navision and Great Plains, challenging the dominance of market leader Sage.
Danish-based Navision was bought for almost £1bn in July this year, while Great Plains was acquired in December 2000 for £750m.
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia
Accountancy software firm Sage has been hit by a data breach which may have compromised the personal details and bank account details of as many as 300 UK businesses