Accounting Software Modules
Accounting software is typically composed of various modules, different
sections dealing with particular areas of accounting. Among the most
common are:
- Accounts payable—where the company enters its bills and pays
money it owes
- Accounts receivable—where the company enters money received
- Billing—where the company produces invoices to clients/customers
- Collections—where the company tracks attempts to collect
overdue bills (sometimes part of accounts receivable)
- Expense—where employee business-related expenses are entered
- General ledger—the company's "books"
- Inquiries—where the company looks up information on screen
without any edits or additions
- Payroll—where the company tracks salary, wages, and related
taxes
- Reports—where the company prints out data
- Time—where professionals (such as attorneys and consultants)
record time worked so that it can be billed to clients
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