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Subject: Accounting information system/ERP Question: Define ERP and its relationship to an accounting software package such...

Subject: Accounting information system/ERP

Question: Define ERP and its relationship to an accounting software package such as XERO or MYOB.         

Business   Accounting   
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Answer #1

ERP:

ERP (Enterprise Resource Planning) is a software for complete business management and it helps in automation of back-office functions. This software helps in creating complex reports with simple clicks. This software integrates many components of the company with proper data dependency and management.

Relationship to accounting software:

ERP software manages the data for all the components. It has complete backend management for all the details. With proper input facility, ERP becomes an input for online accounting software like XERO or MYJOB.

Sometimes, ERP prepares the summarized output which can also be input to accounting software.

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