A financial accounting system for a first entity such as an individual or a business, said system comprising: a financial accounting computer having at least one file; a financial transaction computer for receiving data inputs, said data inputs including electronically recorded financial transactions made between said first entity and a second entity; first communication means for transferring said data inputs from said financial transaction computer to said file of said financial accounting computer; and means for providing access to said file of said financial accounting computer for said first entity and/or agents of said first entity so that said first entity and/or said agent can perform one or more activities selected from the group consisting of entering, deleting, reviewing, adjusting and processing said data inputs. view more

The system of claim 12, wherein said financial accounting computer has means for generating at least one accounting report from said data inputs.

The system of claim 12, including a first said file in said financial accounting computer for receiving accrual accounting data inputs; and a second said file in said financial accounting computer for receiving cash accounting data inputs.

The system of claim 12, including means for transferring funds from said first entity to said second entity.

The system of claim 12, including said financial transaction computer has means for electronically recording, collecting, processing, storing and transmitting said financial transactions.

The system of claim 12, including said financial accounting computer is a personal computer or a telephone computer.

The system of claim 12, including said financial transaction computer is a personal computer.