Accounting records are systematic documents that track financial transactions of a business or organization. These records include details such as sales, expenses, assets, and liabilities, providing a clear picture of the financial health of the entity. They are essential for preparing financial statements and ensuring compliance with laws and regulations. Maintaining accurate accounting records helps businesses make informed decisions, manage budgets, and plan for the future. Common types of records include ledgers, journals, and invoices. Proper organization and regular updates of these records are crucial for effective financial management and reporting.