ACCOUNTING SYSTEM SET UP MASTERY SKILLS Every professional accountant must be able to set up an accounting system for different types of business. WHAT IS ACCOUNTING SYSTEM? This is the act of recording business transactions in a systematic manner, analyzing what is recorded and bringing out reports that will help businesses make useful business decisions and planning. Accounting system can be manual or computerized. Due to the overwhelming advantage of computerized systems, it is advised that accounting systems should be computerized and cloud based. The cloud-based feature helps not to lose your document even if you lose your system. ACCOUNTING SYSTEM INVOLVES THE FOLLOWING: CREATION OF RELEVANT BOOKS OF ACCOUNTS : these books of accounts include invoice, receipts, stock card, payslip,, payment voucher etc CREATION OF RELEVANT ACCOUNTS FOR REPORTING: The following accounts can be created; petty cash schedule, cash book schedule, fixed asset schedul...