AP and AR in Integrated Accounting Software

Virtually all integrated accounting and ERP (Enterprise Resource Planning) applications include capabilities for accounts receivable and accounts payable. If the accounting software accommodates accrual-based accounting, it will need to handle AR/AP. The few exceptions without AR/AP functions are those accounting systems aimed solely for cash-based businesses.

The integrated accounting application may be sold in software modules or it may include all accounting functions in one package. The latter type can be quicker to install. But this one-size-fits-all approach doesn't necessarily work any better in accounting software than it does for women's pantyhose. This means it could take longer to configure the software to fit your business figures if you aren't "average." In addition, you may receive some accounting functions that are not applicable to your business, which you and your staff will need to ignore.

Some of the all-in-one accounting systems aimed at small-to-mid sized businesses come in several different editions. Typically, some editions offer greater depth of functionality within certain accounting areas, or permit a larger number of users.