Accounting software The term is used to strictly to refer to the financial aspect of your business operations. These include accounts receivable, accounts payable, payroll, and trial balances. Many vendors bundle accounting software with modules for relevant business activities like billing, sales order, purchase order, general ledger, timesheet, expense, and electronic payment. ERP An ERP software solution can have all the accounting software features plus more. It’s a resource management system that aside from monitoring the business’ financials, also tracks the following: tangible and intangible assets, human resources, and materials. Intangible parameters include working hours, product life cycles, key performance indicators, and customer relations. These are not financials per se, but they impact on the company’s finances; hence, they are essential to your accounting. Integration Most ERP products today are offered with accounting software as an entry-level packa...