Accounting software is typically composed of various modules, different sections dealing with particular areas of accounting. Among the most common are:

names may differ by vendor

* 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