| There are many types of accounting
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| | In business management, inventory
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| software applications on the market
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| | consists of a list of goods and materials
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| today. Some applications are intended to
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| | held available in stock.
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| perform accounting functions for large
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| | Non Core Modules
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| corporate organizations. Others are meant
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| | - Debt Collection:where the company
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| for personal use. Still other
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| | tracks attempts to collect overdue bills
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| applications fall somewhere in between,
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| | (sometimes part of accounts receivable).
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| performing functions suited to small
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| | - Expense:
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| businesses, as well as those suited to
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| | In accounting, an expense represents an
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| the average person. Available software
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| | event in which an asset is used up or a
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| ranges from the very simple to the very
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| | liability is incurred. In terms of the
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| complex, with much variation in price as
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| | accounting equation, expenses reduce
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| well.
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| | owners' equity.
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| Accounting software is typically composed
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| | - Inquiries:where the company looks up
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| of various modules, different sections
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| | information on screen without any edits
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| dealing with particular areas of
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| | or additions.
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| accounting. Among the most common are:
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| | - Payroll:
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| Core Modules
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| | In a company, payroll is the sum of all
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| - Accounts receivable:
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| | financial records of salaries, wages,
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| Accounts receivable is one of a series of
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| | bonuses, and deductions.
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| accounting transactions dealing with the
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| | The next step up in the realm of
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| billing of customers who owe money to a
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| | accounting software consists of
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| person, company or organization for goods
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| | applications capable of performing a
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| and services that have been provided to
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| | variety of functions important to
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| the customer. This is typically done in a
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| | business accounting. Referred to as
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| one person organization by writing an
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| | mid-market software, accounting
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| invoice and mailing or delivering it to
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| | applications in this class perform
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| each customer.
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| | general business accounting functions and
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| - Accounts payable:
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| | frequently include integrated management
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| Accounts payable is one of a series of
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| | information systems. Many software
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| accounting transactions covering payments
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| | applications at this level are capable of
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| to suppliers owed money for goods and
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| | providing for accounting in several
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| services. The average household performs
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| | different currencies. Mid-market
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| this task by writing cheques each month
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| | accounting software is usually purchased
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| to such suppliers to the electric
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| | from a dealer.
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| company, telephone company, cable
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| | Higher-end accounting software is more
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| television or satellite dish service,
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| | expensive than other types and is usually
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| newspaper subscription, and other such
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| | much more complex. Generally designed for
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| regular services.
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| | use by large businesses with millions of
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| - General ledger:
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| | dollars in transactions, high-end
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| The general ledger, sometimes known as
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| | accounting programs usually have very
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| the nominal ledger, is the main
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| | sophisticated features and options.
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| accounting record of a business which
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| | Software in this class also allows for a
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| uses double-entry bookkeeping. It will
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| | high level of customization. Typically,
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| usually include accounts for such items
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| | higher-end software is sold through a
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| as current assets, fixed assets,
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| | dealer.
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| liabilities, revenue and expense items,
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| | Some companies choose to develop their
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| gains and losses.
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| | own accounting software, gearing it
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| - Billing:
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| | completely towards their unique needs.
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| The process of sending accounts to
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| | Other companies choose to purchase
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| customers for goods or services is called
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| | ready-made software packages. Many
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| billing. The document used is called an
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| | organizations employ a combination of the
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| invoice. The invoice may be attached to
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| | two, purchasing software and applying
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| the goods or forwarded separately.
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| | local modifications to make it more
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| - Stock/Inventory:
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| | efficient.
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