The business world today is at a crossroad with financial accounting and information technology. This has added pressure on the accounting profession to keep abreast with the fast moving technology. According to Professor Jane K Winn of the University Of Washington School Of Law, “Financial institutions were at the forefront in creating the global information economy as it exists today”. Finance today relies on information technology. To explore the integration of these two industries, Sage line 50 has been used in this book at the beginners’ level at least to give seekers of employment a hands-on experience. It has also given some financial explanation and treatment of transactions in these environments. Volume two will explore more on the interaction of IT System with Financial Accounting.