The emergence of information technology in accounting is an innovative system. Nowadays, most business entities, from large corporations down to micro enterprises, are aided by their Accounting Information Systems in managing their operations. This paper provides a review on the impact of information technology on accounting systems. This paper also discusses things about the accounting processes and its types. Accounting is a critical factor for the business, having the touch of IT can enhance speed and accurateness of computations as well as to enhance its flexibility to change and safety storage of information.