When I log in to Sharepoint (MOSS 2007) then my name appears in the "Welcome" area, however on creating a new document the last modified show as "System Account" - anyone out there able to help? There are no work flows running on this library. The same occurs if I put a new list item. My desk-top is built as Server 2003.

This happens if you have used your account as one of the service accounts, usually if it is used as the application pool identity. I think it can also happen when you are in the farm administrators group.