• ACCOUNT SOFTWARE
Accounting software describes a type of application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, general ledger, payroll, and trial balance. It functions as an accounting information system. It may be developed in-house by the organization using it, may be purchased from a third party, or may be a combination of a third-party application software package with local modifications. Accounting software may be on-line based, accessed anywhere at any time with any device which is Internet enabled, or may be desktop based. It varies greatly in its complexity and cost.[1] The market has been undergoing considerable consolidation since the mid-1990s, with many suppliers ceasing to trade or being bought by larger groups.

Contents

1Modules

2Implementation

3Types

3.1Personal accounting

3.2Low-end market

3.3Mid-market

3.4High-end market

3.5Horizontal market

3.6Hybrid solutions

3.7SaaS accounting software

4See also

5References

6External links

Modules

Accounting software is typically composed of various modules, different sections dealing with particular areas of accounting. Among the most common are

Core modules

Accounts receivable—where the company enters money received

Accounts payable—where the company enters its bills and pays money it owes

General ledger—the company's "books"

Billing—where the company produces invoices to clients/customers

Stock/inventory—where the company keeps control of its inventory

Purchase order—where the company orders inventory

Sales order—where the company records customer orders for the supply of inventory

Bookkeeping—where the company records collection and payment Non-core modules[citation needed]

Debt collection—where the company tracks attempts to collect overdue bills (sometimes part of accounts receivable)

Electronic payment processing

Top