Accounting System (Noun)
Meaning
A bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company's accounting system was set up to track every financial transaction from the moment it was made.
- She spent hours reviewing the accounting system to ensure all the numbers added up correctly.
- The new accounting system was designed to streamline the process of recording and reporting financial data.
- The accountant used the accounting system to identify discrepancies in the company's financial records.
- The bookkeeper was responsible for maintaining the accounting system and preparing the monthly financial reports.