accounting system
noun
Pronunciation: əˈkaʊntɪŋ ˈsɪstəm
Definition
A structured method or software used to record, summarize, and analyze financial transactions for an organization.
Examples
Our new accounting system automatically generates monthly reports for the tax authorities.
The auditor reviewed the company's accounting system to ensure all records were accurate and compliant.
How to Use accounting system
- implement an accounting system (collocation)
- to put a new financial method into use — "The company decided to implement an accounting system to streamline their payroll."
- upgrade an accounting system (collocation)
- to replace an old system with a better version — "They need to upgrade their accounting system before the fiscal year ends."
Synonyms of accounting system
Words with a similar meaning to accounting system:
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