As filed with the Securities and Exchange Commission on
                                                       July 18, 1994
                                        Registration No. 33-_______


                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549
                           ____________________

                                 FORM S-8
                          REGISTRATION STATEMENT
                                   UNDER
                        THE SECURITIES ACT OF 1933
                           ____________________

                            KOGER EQUITY, INC.
          (Exact name of issuer as specified in its charter)

           FLORIDA                             59-2898045
(State or other jurisdiction of             (I.R.S. Employer
incorporation or organization)             Identification No.)

         3986 BOULEVARD CENTER DRIVE, JACKSONVILLE, FLORIDA  32207
                  (Address of principal executive office)
                           ____________________
                KOGER EQUITY, INC. STOCK INVESTMENT PLAN
                        (Full title of the Plans)
                           ____________________

 VICTOR A. HUGHES, JR.                      W. LAWRENCE JENKINS
Senior Vice President and                        Secretary
 Chief Financial Officer                     KOGER EQUITY, INC.
   KOGER EQUITY, INC.                    3986 Boulevard Center Drive
3986 Boulevard Center Drive              Jacksonville, Florida 32207
Jacksonville, Florida 32207                     904/398-3403
       904/398-3403

      (Name, address and telephone number, including area code of    
                            agents for service)
                           ____________________
                                Copies to:
                     HAROLD F. McCART, Jr., ESQUIRE
                             Boling & McCart
                      (a professional association)
                    Suite 700, 76 South Laura Street
                       Jacksonville, Florida 32202
                           ____________________
                      CALCULATION OF REGISTRATION FEE



                            Proposed     Proposed
Title of                    Maximum      Maximum       Amount
Securities       Amount     Offering     Aggregate       of
  to be          to be      Price Per    Offering    Registration
Registered     Registered     Share        Price         Fee


Common
Stock, Par
Value $.01       200,000      $9.25     $1,850,000     $637.93*
Per Share

* Pursuant to Rule 457(c), based on $9.25 (the average of the high
 and low prices of the shares reported for July 12, 1994, by the
 American Stock Exchange) for shares issuable pursuant to the
 Koger Equity, Inc. Stock Investment Plan.

 <PAGE>

                                 PART I
                                    
            INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS


    The documents containing the information specified in this
Part I will be sent or given to the employees of Koger Equity,
Inc. (the "Company") and its affiliates who are eligible
to purchase shares pursuant to the Koger Equity, Inc. Stock
Investment Plan as specified by Rule 428I(b)(1) as
promulgated under the Securities Act of 1933, as amended.

    Such documents will include information required by Items 1
and 2 to Form S-8.  Pursuant to instructions in Part I of Form S-
8, such documents are not filed with the Commission.  These
documents and the documents incorporated by reference in this
Registration Statement pursuant to Item 3 of Part II of this Form
S-8, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act of 1933, as
amended.

                                 PART II
                                    
           INFORMATION REQUIRED IN THE REGISTRATION STATEMENT


Item 3.  Incorporation of Documents by Reference.

    The following documents, filed by the Company with the
Commission pursuant to the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), are incorporated herein by
reference as of their respective dates:

    (1)  The Company's Annual Report on Form 10-K for the fiscal
         year ended December 31, 1993, filed pursuant to Section
         13 of the Exchange Act (File No. 1-9997).

    (2)  The Company's Quarterly Report on Form 10-Q for the
         period ended March 31, 1994, filed pursuant to Section
         13 of the Exchange Act (File No. 1-9997).

    (3)  The Company's definitive proxy statement, dated April
         8, 1994, filed pursuant to Section 14 of the Exchange
         Act (File No. 1-9997) relating to its Annual Meeting of
         Shareholders held on May 10, 1994.

    (4)  Description of the shares of Common Stock contained in
         the Company's registration statement filed pursuant to
         Section 12(b) of the Exchange Act and any amendment
         thereto or reports filed for the purpose of updating
         such description (File No. 1-9997).

    All documents subsequently filed by the Company pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to
the filing of a post-effective amendment indicating that all
securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be
incorporated by reference herein and to be a part hereof from the
date of filing of such documents.  Any statement contained in a
document incorporated or deemed to be incorporated herein by
reference shall be deemed to be modified or superseded for
purposes of this Registration Statement to the extent that such a
statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by
reference herein modifies or supersedes such statement.  Any such
statement as modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this
Registration Statement.

Item 4.  Description of Securities.

    Not Applicable.

Item 5.  Interests of Named Experts and Counsel.

    Not Applicable.

Item 6.  Indemnification of Directors and Officers.

    The Company's Articles of Incorporation provide that the
Company shall indemnify its officers and directors to the fullest
extent permitted by the General Corporation Law of the State of
Florida as now or hereafter in force, including the advance of
expenses and reasonable counsel fees.

    Section 93 of the Florida Business Corporation Act (Florida
Statutes Section 607.0850) provides that a director, officer,
agent and employee of a corporation or its subsidiaries or other
affiliates may be indemnified under certain conditions by the
corporation against expenses, including attorney's fees, actually
and reasonably incurred in connection with the defense or
settlement of an action, suit or proceeding, whether civil,
criminal, administrative or investigative, to which he becomes a
party because he was such director, officer, agent or employee,
including expenses reasonably incurred in settlement of any of
the aforesaid matters, if the board of directors by a majority
vote of a quorum consisting of directors who were not parties to
the proceeding determine that the person seeking indemnification
acted in good faith and in a manner he reasonably believed to be
in or not opposed to the best interests of the corporation.

    Section 607.0850 also provides that the indemnification
provided pursuant to above provisions is not exclusive, and a
corporation may make any other further indemnification of any of
its directors, officers, employees, or agents, under any by-laws,
agreements, vote of shareholders or disinterested directors, or
otherwise, both as to action in his official capacity and as to
action in another capacity while holding such office.  However,
indemnification shall not be made to or on behalf of any
director, officer, employee, or agent if a judgment or other
final adjudication establishes that his actions, or omissions to
act, were material to the cause of action so adjudicated and
constitute:

    (a)  A violation of the criminal law, unless the director,
         officer, employee, or agent had reasonable cause to
         believe his conduct was lawful or had no reasonable
         cause to believe his conduct was unlawful;

    (b)  A transaction from which the director, officer,
         employee or agent derived an improper personal benefit;

    (c)  In the case of a director, a circumstance under which
         certain liability provisions relating to the payment of
         dividends and asset distributions are applicable; or

    (d)  Willful misconduct or a conscious disregard for the
         best interests of the corporation in a proceeding by or
         in the right of the corporation to procure a judgment
         in its favor or in a proceeding by or in the right of a
         shareholder.

    In addition, the Company carries directors and officers
liability insurance.

Item 7.  Exemption From Registration Claimed.

    Not Applicable.

Item 8.  Exhibits

Exhibit Number                    Description

     4(a)          Amended and Restated Articles of Incorporation.
                   Incorporated by reference to Exhibit 3 of the
                   Report on Form 8-K, dated May 10, 1994, filed
                   by the Registrant (File No. 1-9997).
     4(b)          Koger Equity, Inc. By Laws, as Amended and
                   Restated on May 5, 1992.  Incorporated by
                   reference to Exhibit 3 of the Form 10-Q filed
                   by the Registrant for the quarter ended March
                   31, 1992 (File No. 1-9997).
     4(c)          Common Stock Certificate of Koger Equity, Inc.
                   See Exhibit 4(a) to Registration Statement on
                   Form S-11 (Registration No. 33-22890) which
                   Exhibit is herein incorporated by reference.
     4(d)(1)(A)    Koger Equity, Inc. Rights Agreement (the 
                   "Rights Agreement") dated as of September 30,
                   1990 between the Company and Wachovia Bank and
                   Trust Company, N.A. as Rights Agent
                   ("Wachovia").  See Exhibit 1 to a Registration
                   Statement on Form 8-A, dated October 3, 1990,
                   (File No. 1-9997) which Exhibit is herein
                   incorporated by reference.
     4(d)(1)(B)    First Amendment to the Rights Agreement, dated
                   as of March 22, 1993, between the Company and
                   First Union National Bank of North Carolina, as
                   Rights Agent ("First Union"), entered into for
                   purpose of replacing Wachovia.  Incorporated by
                   reference to Exhibit 4(b)(4) of the Form 10-Q
                   filed by the Registrant for the quarter ended
                   March 31, 1993 (File No. 1-9997).
     4(d)(1)(C)    Second Amendment to the Rights Agreement, dated
                   as of December 21, 1993, between the Company
                   and First Union.  See Exhibit 5 to an Amendment
                   on Form 8-A/A to a Registration Statement on
                   Form 8-A, dated December 21, 1993, (File No. 1-
                   9997) which Exhibit is herein incorporated by
                   reference.
     4(d)(2)       Form of Common Stock Purchase Rights
                   Certificate (attached as Exhibit A to the
                   Rights Agreement).  Pursuant to the Rights
                   Agreement, printed Common Stock Purchase Rights
                   Certificates will not be mailed until the
                   Distribution Date (as defined in the Rights
                   Agreement).
     4(d)(3)       Summary of Common Stock Purchase Rights
                   (attached as Exhibit B to the Rights
                   Agreement).
     5             Opinion of Boling & McCart.*
     15            Letter Re: Unaudited Interim Financial Information.*
     23(a)         The consent of Deloitte & Touche, independent
                   public accountants to the Registrant (See page
                   10).*
     23(b)         The Consent of Boling & McCart (See Exhibit 5
                   hereof).*
     25            Powers of Attorney (See signature page
                   hereof).*
     28            Koger Equity, Inc. Stock Investment Plan*
             
*Filed with this report.

<PAGE>

Item 9.  Undertakings.

    Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors and officers
and controlling persons of the Company pursuant to the provisions
referred to in Item 6 of this Registration Statement or
otherwise, the Company has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Act and is, therefore,
unenforceable.  In the event that a claim against the Company for
indemnification against such liability (other than the payment by
the Company of expenses incurred or paid by a director or officer
of the Company in the successful defense of any action, suit or
proceeding) is asserted by a director or officer or controlling
person in connection with the securities being registered, the
Company will, unless in the opinion of its counsel the matter has 
been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question of whether or not such
indemnification by it is against public policy as expressed in
the Act and will be governed by the final adjudication of such
issue.

The Company hereby undertakes:

         (1) To file, during any period in which offers or sales
    are being made, a post-effective amendment to this
    Registration Statement:

              (i)  To include any prospectus required by Section
         10(a)(3) of the Securities Act of 1933;

              (ii) To reflect in the prospectus any facts or
         events arising after the effective date of the
         Registration Statement (or the most recent post-
         effective amendment thereof) which, individually or in
         the aggregate, represent a fundamental change in the
         information set forth in the Registration Statement;
         and

              (iii) To include any material information with
         respect to the plan of distribution not previously
         disclosed in the Registration Statement or any material
         change to such information in the Registration
         Statement; provided, however, that the registrant need
         not file a post-effective amendment to include the
         information required to be included by subsection (i)
         or (ii) if the information is contained in periodic
         reports filed by the registrant pursuant to Section 13
         or Section 15(d) of the Securities Exchange Act of 1934
         which are incorporated by reference in the Registration
         Statement.

         (2)  That, for the purpose of determining any liability
    under the Securities Act of 1933, each such post-effective
    amendment shall be deemed to be a new Registration Statement
    relating to the securities offered therein, and the offering
    of such securities at that time shall be deemed to be the
    initial bona fide offering thereof.

         (3)  To remove from registration by means of a post-
    effective amendment any of the securities being registered
    which remain unsold at the termination of the offering.

         (4)  That, for the purpose of determining any liability
    under the Securities Act of 1933, each filing of the
    registrant's annual report pursuant to Section 13(a) or
    Section 15(d) of the Securities Exchange Act of 1934 (and, 
    where applicable, each filing of an employee benefit plan's
    annual report pursuant to Section 15(d) of the Securities
    Exchange Act of 1934) that is incorporated by reference in
    the registration statement shall be deemed to be a new
    registration statement relating to the securities offered
    therein, and the offering of such securities at that time
    shall be deemed to be the initial bona fide offering
    thereof.

         (5)  The undersigned registrant hereby undertakes to
    deliver or cause to be delivered with the prospectus to each
    employee to whom the prospectus is sent or given a copy of
    the registrant's annual report to stockholders for its last
    fiscal year, unless such employee otherwise has received a
    copy of such report, in which case the registrant shall
    state in the prospectus that it will promptly furnish,
    without charge, a copy of such report on written request of
    the employee.  If the last fiscal year of the registrant has
    ended within 120 days prior to the use of the prospectus,
    the annual report of the registrant for the preceding fiscal
    year may be so delivered, but within such 120 day period the
    annual report for the last fiscal year will be furnished to
    each such employee.

         (6)  The undersigned registant hereby undertakes to
    transmit or cause to be transmitted to all employees
    participating in the plan who do not otherwise receive such
    material as stockholders of the registrant, at the time and
    in the manner such material is sent to its stockholders, 
    copies of all reports, proxy statements and other
    communications distributed to its stockholders generally.

<PAGE>
                                
                                SIGNATURES

    The Registrant.  Pursuant to the requirements of the
Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized in the City of
Jacksonville, State of Florida, the 13th day of July, 1994.

KOGER EQUITY, INC.

By:
       IRVIN H. DAVIS
       Irvin H. Davis
   President and Director

  Pursuant to the requirements of the Securities Act of 1933, as
amended, this Registration Statement has been signed below by the
following persons in the capacities and on the dates indicated.
Each person whose signature appears below hereby authorized S. D.
Stoneburner, Irvin H. Davis and Victor A. Hughes, Jr., and each
of them, as Attorneys-in-Fact, to sign on his behalf individually
and in each capacity stated below, and to file any amendments,
including Post Effective Amendments, to this Registration
Statement.

    Signature                  Title                       Date

 S. D. STONEBURNER         Chairman of the Board of
(S. D. Stoneburner)        Directors and Director

 IRVIN H. DAVIS            President and Director
(Irvin H. Davis)           (Principal Executive Officer)

 VICTOR A. HUGHES, JR.     Senior Vice President and
(Victor A. Hughes, Jr.)    Director (Principal Financial
                           Officer)
 JAMES L. STEPHENS         Treasurer (Principal Accounting 
(James L. Stephens)        Officer)                                 
                                                     July 13, 1994
 D. PIKE ALOIAN            Director
(D. Pike Aloian)

 BENJAMIN C. BISHOP, JR    Director
(Benjamin C. Bishop, Jr.)

 CHARLES E. COMMANDER, III Director
(Charles E. Commander, III)

 DAVID B. HILEY            Director
(David B. Hiley)

 G. CHRISTIAN LANTZSCH     Director
(G. Christian Lantzsch)
                     
 THOMAS K. SMITH, JR.      Director
(Thomas K. Smith, Jr.)

 GEORGE F. STAUDTER        Director
(George F. Staudter)
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As filed with the Securities and Exchange Commission on
                                                       July 18, 1994
                                        Registration No. 33-_______

                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549
                           ____________________

                                 FORM S-8
                          REGISTRATION STATEMENT
                                   UNDER
                        THE SECURITIES ACT OF 1933
                           ____________________

                            KOGER EQUITY, INC.
          (Exact name of issuer as specified in its charter)

           FLORIDA                             59-2898045
(State or other jurisdiction of             (I.R.S. Employer
incorporation or organization)             Identification No.)

         3986 BOULEVARD CENTER DRIVE, JACKSONVILLE, FLORIDA  32207
                  (Address of principal executive office)
                           ____________________
                KOGER EQUITY, INC. STOCK INVESTMENT PLAN
                        (Full title of the Plans)
                           ____________________

 VICTOR A. HUGHES, JR.                      W. LAWRENCE JENKINS
Senior Vice President and                        Secretary
 Chief Financial Officer                     KOGER EQUITY, INC.
   KOGER EQUITY, INC.                    3986 Boulevard Center Drive
3986 Boulevard Center Drive              Jacksonville, Florida 32207
Jacksonville, Florida 32207                     904/398-3403
       904/398-3403

      (Name, address and telephone number, including area code of    
                            agents for service)
                           ____________________
                                Copies to:
                     HAROLD F. McCART, Jr., ESQUIRE
                             Boling & McCart
                      (a professional association)
                    Suite 700, 76 South Laura Street
                       Jacksonville, Florida 32202
                           ____________________
                      CALCULATION OF REGISTRATION FEE

                            Proposed     Proposed
Title of                    Maximum      Maximum       Amount
Securities       Amount     Offering     Aggregate       of
  to be          to be      Price Per    Offering    Registration
Registered     Registered     Share        Price         Fee

Common
Stock, Par
Value $.01       200,000      $9.25     $1,850,000     $637.93*
Per Share

* Pursuant to Rule 457(c), based on $9.25 (the average of the high
 and low prices of the shares reported for July 12, 1994, by the
 American Stock Exchange) for shares issuable pursuant to the
 Koger Equity, Inc. Stock Investment Plan.
PART I
                                    
            INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS

    The documents containing the information specified in this
Part I will be sent or given to the employees of Koger Equity,
Inc. (the "Company") and its affiliates who are eligible
to purchase shares pursuant to the Koger Equity, Inc. Stock
Investment Plan as specified by Rule 428I(b)(1) as
promulgated under the Securities Act of 1933, as amended.

    Such documents will include information required by Items 1
and 2 to Form S-8.  Pursuant to instructions in Part I of Form S-
8, such documents are not filed with the Commission.  These
documents and the documents incorporated by reference in this
Registration Statement pursuant to Item 3 of Part II of this Form
S-8, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act of 1933, as
amended.

                                 PART II
                                    
           INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3.  Incorporation of Documents by Reference.

    The following documents, filed by the Company with the
Commission pursuant to the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), are incorporated herein by
reference as of their respective dates:

    (1)  The Company's Annual Report on Form 10-K for the fiscal
         year ended December 31, 1993, filed pursuant to Section
         13 of the Exchange Act (File No. 1-9997).

    (2)  The Company's Quarterly Report on Form 10-Q for the
         period ended March 31, 1994, filed pursuant to Section
         13 of the Exchange Act (File No. 1-9997).

    (3)  The Company's definitive proxy statement, dated April
         8, 1994, filed pursuant to Section 14 of the Exchange
         Act (File No. 1-9997) relating to its Annual Meeting of
         Shareholders held on May 10, 1994.

    (4)  Description of the shares of Common Stock contained in
         the Company's registration statement filed pursuant to
         Section 12(b) of the Exchange Act and any amendment
         thereto or reports filed for the purpose of updating
         such description (File No. 1-9997).

    All documents subsequently filed by the Company pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act prior to
the filing of a post-effective amendment indicating that all
securities offered have been sold or which deregisters all
securities then remaining unsold, shall be deemed to be
incorporated by reference herein and to be a part hereof from the
date of filing of such documents.  Any statement contained in a
document incorporated or deemed to be incorporated herein by
reference shall be deemed to be modified or superseded for
purposes of this Registration Statement to the extent that such a
statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by
reference herein modifies or supersedes such statement.  Any such
statement as modified or superseded shall not be deemed, except
as so modified or superseded, to constitute a part of this
Registration Statement.

Item 4.  Description of Securities.

    Not Applicable.

Item 5.  Interests of Named Experts and Counsel.

    Not Applicable.

Item 6.  Indemnification of Directors and Officers.

    The Company's Articles of Incorporation provide that the
Company shall indemnify its officers and directors to the fullest
extent permitted by the General Corporation Law of the State of
Florida as now or hereafter in force, including the advance of
expenses and reasonable counsel fees.

    Section 93 of the Florida Business Corporation Act (Florida
Statutes Section 607.0850) provides that a director, officer,
agent and employee of a corporation or its subsidiaries or other
affiliates may be indemnified under certain conditions by the
corporation against expenses, including attorney's fees, actually
and reasonably incurred in connection with the defense or
settlement of an action, suit or proceeding, whether civil,
criminal, administrative or investigative, to which he becomes a
party because he was such director, officer, agent or employee,
including expenses reasonably incurred in settlement of any of
the aforesaid matters, if the board of directors by a majority
vote of a quorum consisting of directors who were not parties to
the proceeding determine that the person seeking indemnification
acted in good faith and in a manner he reasonably believed to be
in or not opposed to the best interests of the corporation.

    Section 607.0850 also provides that the indemnification
provided pursuant to above provisions is not exclusive, and a
corporation may make any other further indemnification of any of
its directors, officers, employees, or agents, under any by-laws,
agreements, vote of shareholders or disinterested directors, or
otherwise, both as to action in his official capacity and as to
action in another capacity while holding such office.  However,
indemnification shall not be made to or on behalf of any
director, officer, employee, or agent if a judgment or other
final adjudication establishes that his actions, or omissions to
act, were material to the cause of action so adjudicated and
constitute:

    (a)  A violation of the criminal law, unless the director,
         officer, employee, or agent had reasonable cause to
         believe his conduct was lawful or had no reasonable
         cause to believe his conduct was unlawful;

    (b)  A transaction from which the director, officer,
         employee or agent derived an improper personal benefit;

    (c)  In the case of a director, a circumstance under which
         certain liability provisions relating to the payment of
         dividends and asset distributions are applicable; or

    (d)  Willful misconduct or a conscious disregard for the
         best interests of the corporation in a proceeding by or
         in the right of the corporation to procure a judgment
         in its favor or in a proceeding by or in the right of a
         shareholder.

    In addition, the Company carries directors and officers
liability insurance.

Item 7.  Exemption From Registration Claimed.

    Not Applicable.

Item 8.  Exhibits

Exhibit Number                    Description

     4(a)          Amended and Restated Articles of Incorporation.
                   Incorporated by reference to Exhibit 3 of the
                   Report on Form 8-K, dated May 10, 1994, filed
                   by the Registrant (File No. 1-9997).
     4(b)          Koger Equity, Inc. By Laws, as Amended and
                   Restated on May 5, 1992.  Incorporated by
                   reference to Exhibit 3 of the Form 10-Q filed
                   by the Registrant for the quarter ended March
                   31, 1992 (File No. 1-9997).
     4(c)          Common Stock Certificate of Koger Equity, Inc.
                   See Exhibit 4(a) to Registration Statement on
                   Form S-11 (Registration No. 33-22890) which
                   Exhibit is herein incorporated by reference.
     4(d)(1)(A)    Koger Equity, Inc. Rights Agreement (the 
                   "Rights Agreement") dated as of September 30,
                   1990 between the Company and Wachovia Bank and
                   Trust Company, N.A. as Rights Agent
                   ("Wachovia").  See Exhibit 1 to a Registration
                   Statement on Form 8-A, dated October 3, 1990,
                   (File No. 1-9997) which Exhibit is herein
                   incorporated by reference.
     4(d)(1)(B)    First Amendment to the Rights Agreement, dated
                   as of March 22, 1993, between the Company and
                   First Union National Bank of North Carolina, as
                   Rights Agent ("First Union"), entered into for
                   purpose of replacing Wachovia.  Incorporated by
                   reference to Exhibit 4(b)(4) of the Form 10-Q
                   filed by the Registrant for the quarter ended
                   March 31, 1993 (File No. 1-9997).
     4(d)(1)(C)    Second Amendment to the Rights Agreement, dated
                   as of December 21, 1993, between the Company
                   and First Union.  See Exhibit 5 to an Amendment
                   on Form 8-A/A to a Registration Statement on
                   Form 8-A, dated December 21, 1993, (File No. 1-
                   9997) which Exhibit is herein incorporated by
                   reference.
     4(d)(2)       Form of Common Stock Purchase Rights
                   Certificate (attached as Exhibit A to the
                   Rights Agreement).  Pursuant to the Rights
                   Agreement, printed Common Stock Purchase Rights
                   Certificates will not be mailed until the
                   Distribution Date (as defined in the Rights
                   Agreement).
     4(d)(3)       Summary of Common Stock Purchase Rights
                   (attached as Exhibit B to the Rights
                   Agreement).
     5             Opinion of Boling & McCart.*
     15            Letter Re: Unaudited Interim Financial Information.*
     23(a)         The consent of Deloitte & Touche, independent
                   public accountants to the Registrant (See page
                   10).*
     23(b)         The Consent of Boling & McCart (See Exhibit 5
                   hereof).*
     25            Powers of Attorney (See signature page
                   hereof).*
     28            Koger Equity, Inc. Stock Investment Plan*
             
*Filed with this report.
Item 9.  Undertakings.

    Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors and officers
and controlling persons of the Company pursuant to the provisions
referred to in Item 6 of this Registration Statement or
otherwise, the Company has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is
against public policy as expressed in the Act and is, therefore,
unenforceable.  In the event that a claim against the Company for
indemnification against such liability (other than the payment by
the Company of expenses incurred or paid by a director or officer
of the Company in the successful defense of any action, suit or
proceeding) is asserted by a director or officer or controlling
person in connection with the securities being registered, the
Company will, unless in the opinion of its counsel the matter has 
been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question of whether or not such
indemnification by it is against public policy as expressed in
the Act and will be governed by the final adjudication of such
issue.

The Company hereby undertakes:

         (1) To file, during any period in which offers or sales
    are being made, a post-effective amendment to this
    Registration Statement:

              (i)  To include any prospectus required by Section
         10(a)(3) of the Securities Act of 1933;

              (ii) To reflect in the prospectus any facts or
         events arising after the effective date of the
         Registration Statement (or the most recent post-
         effective amendment thereof) which, individually or in
         the aggregate, represent a fundamental change in the
         information set forth in the Registration Statement;
         and

              (iii) To include any material information with
         respect to the plan of distribution not previously
         disclosed in the Registration Statement or any material
         change to such information in the Registration
         Statement; provided, however, that the registrant need
         not file a post-effective amendment to include the
         information required to be included by subsection (i)
         or (ii) if the information is contained in periodic
         reports filed by the registrant pursuant to Section 13
         or Section 15(d) of the Securities Exchange Act of 1934
         which are incorporated by reference in the Registration
         Statement.

         (2)  That, for the purpose of determining any liability
    under the Securities Act of 1933, each such post-effective
    amendment shall be deemed to be a new Registration Statement
    relating to the securities offered therein, and the offering
    of such securities at that time shall be deemed to be the
    initial bona fide offering thereof.

         (3)  To remove from registration by means of a post-
    effective amendment any of the securities being registered
    which remain unsold at the termination of the offering.

         (4)  That, for the purpose of determining any liability
    under the Securities Act of 1933, each filing of the
    registrant's annual report pursuant to Section 13(a) or
    Section 15(d) of the Securities Exchange Act of 1934 (and, 
    where applicable, each filing of an employee benefit plan's
    annual report pursuant to Section 15(d) of the Securities
    Exchange Act of 1934) that is incorporated by reference in
    the registration statement shall be deemed to be a new
    registration statement relating to the securities offered
    therein, and the offering of such securities at that time
    shall be deemed to be the initial bona fide offering
    thereof.

         (5)  The undersigned registrant hereby undertakes to
    deliver or cause to be delivered with the prospectus to each
    employee to whom the prospectus is sent or given a copy of
    the registrant's annual report to stockholders for its last
    fiscal year, unless such employee otherwise has received a
    copy of such report, in which case the registrant shall
    state in the prospectus that it will promptly furnish,
    without charge, a copy of such report on written request of
    the employee.  If the last fiscal year of the registrant has
    ended within 120 days prior to the use of the prospectus,
    the annual report of the registrant for the preceding fiscal
    year may be so delivered, but within such 120 day period the
    annual report for the last fiscal year will be furnished to
    each such employee.

         (6)  The undersigned registant hereby undertakes to
    transmit or cause to be transmitted to all employees
    participating in the plan who do not otherwise receive such
    material as stockholders of the registrant, at the time and
    in the manner such material is sent to its stockholders, 
    copies of all reports, proxy statements and other
    communications distributed to its stockholders generally.
SIGNATURES

    The Registrant.  Pursuant to the requirements of the
Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the
undersigned, thereunto duly authorized in the City of
Jacksonville, State of Florida, the 13th day of July, 1994.

KOGER EQUITY, INC.

By:
       IRVIN H. DAVIS
       Irvin H. Davis
   President and Director

  Pursuant to the requirements of the Securities Act of 1933, as
amended, this Registration Statement has been signed below by the
following persons in the capacities and on the dates indicated.
Each person whose signature appears below hereby authorized S. D.
Stoneburner, Irvin H. Davis and Victor A. Hughes, Jr., and each
of them, as Attorneys-in-Fact, to sign on his behalf individually
and in each capacity stated below, and to file any amendments,
including Post Effective Amendments, to this Registration
Statement.

    Signature                  Title                       Date

 S. D. STONEBURNER         Chairman of the Board of
(S. D. Stoneburner)        Directors and Director

 IRVIN H. DAVIS            President and Director
(Irvin H. Davis)           (Principal Executive Officer)

 VICTOR A. HUGHES, JR.     Senior Vice President and
(Victor A. Hughes, Jr.)    Director (Principal Financial
                           Officer)
 JAMES L. STEPHENS         Treasurer (Principal Accounting 
(James L. Stephens)        Officer)                                 
                                                     July 13, 1994
 D. PIKE ALOIAN            Director
(D. Pike Aloian)

 BENJAMIN C. BISHOP, JR    Director
(Benjamin C. Bishop, Jr.)

 CHARLES E. COMMANDER, III Director
(Charles E. Commander, III)

 DAVID B. HILEY            Director
(David B. Hiley)

 G. CHRISTIAN LANTZSCH     Director
(G. Christian Lantzsch)
                     
 THOMAS K. SMITH, JR.      Director
(Thomas K. Smith, Jr.)

 GEORGE F. STAUDTER        Director
(George F. Staudter)