Main Modules of Accounting Software


business accounting software's components

Accounting software is a special type of software that processes and records various accounting transactions. Generally, the accounting information system is composed of different modules that are devoted to particular areas of accounting. Some of the accounting system’s modules are commonly used and are named core modules; other functional modules are named not-core modules.

Main core accounting modules:

  • Accounts payable is used by a company to enter bills it has to pay the money it owes.
  • Accounts receivable is used by a company to enter received money.
  • Billing is used by a company to record invoices produced by its customers.
  • The purchase order is used by a company to record its orders that are made regarding the company's inventory.
  • The sales order is used by a company to record customer orders that are supplied by the company.
  • The general ledger is used by a company to form the company’s account books.
  • Stock/inventory is used by a company to keep control of its inventory.

Main non-core modules of the accounting information system:



  • Payroll is used by a company to record the employees’ salaries, wages, and other related taxes.
  • Timesheet is used by a company to record the worked time that will be billed to clients.
  • Electronic payment is used by a company to record the electronic payments made by the company.
  • Debt collection is used by a company to collect overdue bills.
  • The expense is used by a company to record business-related expenses.
  • The purchase requisition is used by a company to record the made, approved, and tracked purchase orders.
accounting software system

The accounting systems can be developed by the company's own developing team as well as be ordered and purchased from a specialized development company. Different providers of business accounting software systems offer different solutions with various features. Most of them give invoicing, bill payment, financial reporting, and other commonly used tools. Some systems are more powerful and supply additional specific functions. Every company decides which system is the best business accounting software because the best meets its necessities and requirements. It is not easy to choose the right accounting software system from offered on the market; therefore, it is not surprising that some organizations after not successful experience need to look for another accounting system and change a software provider. To protect from such a situation, it is recommended to:

best accounting software
  • consider the company’s business needs, 
  • define a budget, 
  • do some research about available offers, 
  • ask the help of the company's accountant(s).

Any business owner that wants to save time and money should take the choice of the accounting system seriously it wants to select accounting software that best meets the company's needs. Using technologies is an important aspect of a successful modern business. Technologies also play a key role in accounting. Times, when bookkeepers were manually filling the ledger, are far behind. Today, companies use various software solutions, including bookkeeping programs and accounting systems to manage and control their business activities and financial operations. Computerized accounting programs eliminate many of the paper "books" used to record financial transactions.

Accounting is a measurement system that enables:

  • Identifying business activities – transactions relevant to the company.
  • Recording business activities – keeping, classifying, and summarizing in a useful format the transactions measured in money (for example, dollars).
  • Communicating business activities – preparing financial reports and their analyzing and interpreting.

The right accounting computerized program:

  • allows reducing the time, effort, and cost of recordkeeping 
  • improving clerical accuracy.

Modern technologies have changed the way of financial information storing, processing, and summarized. Nowadays, planning, consulting, auditing, and other financial services are closely linked to accounting. These financial services require sorting the financial data, identifying key factors, interpreting meaning, and analyzing implications.

Accounting is the language of business that helps companies to make better decisions.

The right decision can be made in the case of having the right financial information only. Computerized bookkeeping programs allow reducing errors in the financial reports and their quick correction.

Accounting measurement system


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