Magento does not have any accounting feature since it is an eCommerce platform. However, we can sync business documents back and forth between Magento and SAP Business One. APPSeCONNECT will allow automated accounting entry in SAP Business One ERP system.
Here are some points of integration:
a. Sales Order of Magento -> Sales Order of SAP Business One
b. Invoice of Magento + Online Payment Transaction ID -> A/R Invoice + Incoming Payment of SAP Business One (For Online Payment in Magento)
c. A/R Invoice of SAP Business One -> Invoice of Magento (For Offline Orders)