Not all accounting systems operate the same way. While most accounting systems capture basic income and expense data, whether manual or computerized, the system used varies by the type of business.

Decades ago, accountants kept financial records manually, using paper and pencil to enter transactions. Accounting machines followed by increasingly complex technology served the needs of businesses ...

Liz Simmons is an education staff writer at Forbes Advisor. She has written about higher education and career development for various online publications since 2016. She earned a master’s degree in ...