Accounting systems

An accounting system is a structured process that businesses use to record, organize, and track financial information. It helps in managing income, expenses, assets, and liabilities by capturing transactions accurately. These systems can be manual, like paper ledgers, or digital, using software that automates calculations and generates reports. The goal is to provide clear, reliable financial data for decision-making, compliance, and reporting purposes. Essentially, an accounting system is the backbone of financial management, ensuring that a business’s financial health is transparent and well-organized.