Business Accounting Categories are the various classes of accounts used to record the financial transactions of a business. They provide an organized structure for tracking all financial information, allowing the business to properly keep track of its income, expenses, assets and liabilities. In other words, accounting categories give businesses a way to make sense of their financial data and use it to create solid budget plans and proactive management strategies. Knowing what these categories are – as well as how to properly use them – is essential for any business wanting to stay on top of its finances.