I am trying to figure out if there is a way to use Accpac to manage subscriptions rather than a product.  Are there reports that can be customized in Accpac to track origination or source of an order, subscription periods, and order status (currently subscribing or cancelled)? 

I believe that would be possible. A customized report should be able to get such info out of the tables. I'd suggest talking to an Accpac consultant regarding your specific business needs and see if you can get a demo setup for it.

Have you looked at AR's Recurring Billing?