Accounting information system processes financial transactions and events as per generally accepted accounting principles (GAAP) to yield desired reports. The system will be working according to a set of principles and a user defined framework.

Software packages typically offer common features that apply to most businesses, and usually have some flexibility to customize certain features to meet the needs of a company. Configurable systems and updates to order offer more convenience and meaning to businesses so that they may not need to adapt their processes to match how the software works.