A gaming machine accounting and monitoring system includes a plurality of accumulative, non-resettable accounting meters and an event processor for sensing game activity at the gaming machine and updating the accounting meters in response thereto. The system also includes separate game credit meters for storing the total amount of game credit available and the amount of game credit purchased but not yet risked by the player. The accounting meters include meters for tracking wagering activity and machine payouts, and a plurality of drop meters for tracing monetary value accepted by the gaming machine in all of its different forms. In accordance with another aspect of the invention, the accounting meters also include a set of meters for tracing data card transactions for cashless game play. These data card meters include separate meters for tracking game credit purchased with a data card and gaming machine payouts deposited to a data card account. The accounting system can be used on a variety of gaming machines including video lottery systems which contain multiple games that can be independently selected by the player. In accordance with this aspect of the invention, the system includes a game identifier that uniquely identifies the current game in play, and a mechanism for sensing a change of game at the gaming machine. In response to this change of game event, the system updates the game identifier and saves the accumulations of meter data representing game play for the previous game.