Accounting and Payroll Software – Industry Jargon Defined


Just as your business has its own jargon or industry-specific terminology, so does the software industry! If you are searching for accounting or payroll software, the likelihood of hearing these terms is relatively high. Be prepared to speak with software representatives by understanding these key terms; you will have a better chance of understanding and meeting your needs.

Application: This term refers to a software program, as in That application works well for processing invoices.

Compatible: Where software is concerned, consistently refers to whether applications can work well and exchange information. Is this new payroll system consistent with the time clock we are already using? This can also refer to whether this software can run on a particular computer.

Customizable: There are two references to “customizable” in the software world. The first is the ability to alter a program’s settings to meet your specific needs, such as adding or omitting information fields or creating and saving your templates for later use. The second use of this term refers to open-source code products. When customizing an open-source product, you can change the software code within the program, potentially changing its functionality permanently. I like our new software because the invoice designs are customizable.

Accounting and Payroll Software - Industry Jargon Defined 1

Dashboard: Just as your car’s dashboard shows you information about operating your vehicle, a software dashboard displays your most important menu options and tools available for using your software system. This is typically the screen you see first when opening your program. The dashboard within this system makes it easy to do my job.

Demo: Of course, this is a shortened version of the word demonstration. A demo usually provides an opportunity to view a software package’s functionality, whether in video format, guided online or live tour, or even a trial version of the software. The demo helped us understand what it’s like to use that program.

Driver: A software program that, when installed, helps your computer understand how to use a hardware device. Once we installed the driver, we could immediately use the new mouse.

Feature: Options or tools for the functionality provided within a software program. Our new software program has more features than our prior program, allowing us to enter and pull out information in a way that fits our company better.

Interface: An interface refers to the direct communication between two software products. Many accounting software applications interface with payroll applications, allowing you to post data with simple clicks. The interface can also refer to how a software application is presented to the user, as The interface for that program makes it easy to navigate and use.

Intuitive: This refers to how easy it is to operate a system without training. The plan was so intuitive that I felt at ease using it after only a short time.

Legacy Products: Just as our ancestors have built a legacy, so have the age-old software products that have stood the test of time. In the software world, legacy products have become outdated yet may or may not still be supported. Though newer software is now available, he chose to stay with his legacy software program.

Migration: While you may associate this term with birds flying south, it refers to data transfer from one application to another in the software industry. A software company can often migrate your data from an older application to a newer one.

Module: This refers to each software element that performs a distinct function, usually each of which can stand independently without depending on other factors. The software company just added a ratios module, which significantly enhances a company’s ability to see where improvements are needed.