Accounting involves keeping track of an individual's or organization's financial "stuff", which includes things owned (assets), money owed (liabilities), money received (income), money spent (expenses), and overall worth (equity). These categories have specific names when recorded in an accounting system. Accounting is used daily even if an formal accounting system is not used, such as when paying bills or tracking money in a bank account. Proper accounting helps ensure accurate tracking of financial information.

1. What is Accounting?
Alex Acree
Product Development at Aplos Software

2. What is Accoun-ng?
Simply put… it’s keeping track of all your STUFF.

3. “Stuff” is defined as these primary areas
Things You Own
Money You Owe
Money You Receive
Money You Spend
Your Overall Worth

4. You Actually use Accoun-ng on a Daily Basis
Here’s how:
• You’ve got money in your bank account.
• And then you get a paycheck which gives you more money.
• You pay your bills.
• You’ve got debt.
This is your OVERALL WORTH!

5. Keeping Track of Your Stuff with Accounts
In an accoun,ng system, those five
things have different names:
Things You Own = Assets
Money You Owe = Liability
Money You Receive = Income
Money You Spend = Expenses
Your Overall Worth = Equity

6. When do I use accounts/accoun-ng?
Accounts are created and used in an
accoun-ng system.
But accoun-ng is actually something you
use on a daily basis. Let’s look at an
example…

7. When do I use accounts/accoun-ng?

8. About Aplos
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Visit aplos.com for more informa-on.