Accountant Search

An Overview of Accounting Software

Accounting software is an application software that records and processes the accounting transactions contained in the functional modules like account receivable, account payable, trial balance and payroll. It functions is like an accounting information system.

The accounting software can be manufactured by a company (in-house) or the company can buy it from a third party. It may also be a combination of both, that is buying an application software package from a third party and applying some local modifications to it in the company.

There are Various Types of Accounting Softwares Such as:

Accounting software is made up of a series of modules. These modules are all appropriate in running a successful business.

The Key Modules of Accounting Software are as Follows:

The Core Modules: There are usually 8 core modules. These modules are called core modules because all top accounting software products offer them and these modules are used for an extensive range of businesses. The 8 core modules are:
  • General Ledger
  • Accounts Payable
  • Accounts Receivable
  • Payroll
  • Inventory
  • Order Entry
  • Job Cost
  • System Manager
Advanced Modules: Apart from core module, there are some additional modules that the accounting software products offer. These modules are designed to fulfill the additional needs of targeted customers. The particular advanced modules that the publisher offers is based on the size of the customers and the industry targeted by them. It is unforgivable to miss core modules but missing an advanced one may not be such a big issue.
E-Commerce Modules: There are 8 categories of E-Commerce modules. These are as discussed below:
  • Web Based Requisitioning: Employees can order the supplies via web using this module.
  • Web Commerce Catalog: Companies can publish a web catalog using this module.
  • Web Customers: On the web, the customers can log in to their account history using this module.
  • Web Employee: Employees can maintain personal data & investments on the web using this module.
  • Web Financial Statements: Executives can access financial statements on the web using this module.
  • Web Orders: Company can accept orders on the web using this module.
  • Web Tools: Companies can create web sites and integrate their data using this module.
  • Web Portal: Users can operate accounting system on the web using this module.
Development Tools: There number of advanced modules designed to provide the user with the ability to modify the database, data input screens, reports, forms and tables. These development tools basically come under on of the following six categories:
  • Customization Tools
  • Data Integration Tools
  • Data Import Tools
  • Forms Designer Tools
  • Financial Statement Designer Tools
  • VBA Tools