Note that vendors may use differing names for these modules.
Reconciliation-compares records from parties at both sides of transactions for consistency. Purchase requisition-where requests for purchase orders are made, approved and tracked. 
Timesheet-where professionals (such as attorneys and consultants) record time worked so that it can be billed to clients. Reports-where the company prints out data. Payroll-where the company tracks salary, wages, and related taxes. Inquiries-where the company looks up information on screen without any edits or additions. Expense-where employee business-related expenses are entered. Debt collection-where the company tracks attempts to collect overdue bills (sometimes part of accounts receivable). Financial close management - where accounting teams verify and adjust account balances at the end of a designated time period. Bookkeeping-where the company records collection and payment. Sales order-where the company records customer orders for the supply of inventory. 
Purchase order-where the company orders inventory. 
Stock/inventory-where the company keeps control of its inventory. Billing-where the company produces invoices to clients/customers. Accounts payable-where the company enters its bills and pays money it owes. Accounts receivable-where the company enters money received. #ACCURATE 5 ACCOUNTING SOFTWARE#
Accounting software is typically composed of various modules, with different sections dealing with particular areas of accounting.
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