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.
The
market has been undergoing considerable consolidation since the mid-1990s, with
many suppliers ceasing to trade or being bought by larger groups.
