Accounting System

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Basic Business Terms and other Small Businesses topics.

What are Financial Statements?

Accounting System

An Accounting System refers to the entire process of keeping track of all a business´ financial transactions and financial controls. Some basic elements of an accounting system include the Payables and Receivables systems, Inventory Tracking, Payroll, and Sales.



Nobody has commented on this tip yet. Be the first.


URL: (optional)


Not finding the advice and tips you need on this Small Businesses Tip Site? Request a Tip Now!

Guru Spotlight
Mary White