Accounting is the act of creating and recording financial statements by keeping track of financial transactions and events occurring in a business.
Accounting systems are the most popular and well known in the world. You might have heard of Turbo Tax and other similar services, but they’re not accounting systems. They’re a way of keeping track of and accounting for all the different entities that make up your company. Accounting systems are usually very flexible and can be implemented just about anywhere, so finding a system that’s going to work for your company is often not as important as finding a system that works well with your company’s needs.