Again, why do we ask you to format your papers the same way? Some of it is for consistency - it's easier to find the information we are looking for and make sure you are following instructions if your papers are formatted similarly. More importantly, when you are submitting a grant, journal article, or proposal in the "real world", the organization you are submitting to will typically ask you to follow some sort of style guide. And if you don't?
Believe it or not, your grant, journal article, or proposal may not even get reviewed if you haven't followed instructions. It might not be APA - they could ask for a different style like AMA, Chicago, Vancouver, MLA, or something that is field-specific. If that's the case, have no fear: you'll be well-prepared to find and follow any guidelines because of your familiarity with the rules of APA.
Use a citation manager to help you format and organize your citations. It will save you time and assist you in writing your papers. Remember though, it is a tool and not a substitute for understanding APA style.