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E-accounting (or online accounting) is the application of online and Internet technologies to the business accounting function. [1] Similar to e-mail being an electronic version of traditional mail, e-accounting is "electronic enablement" of lawful accounting and traceable accounting processes which were traditionally manual and paper-based.
An accounting information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources.
This delay, which is absent in electronic accounting systems due to nearly instantaneous posting to relevant accounts, is characteristic of manual systems, and gave rise to the primary books of accounts—cash book, purchase book, sales book, etc.—for immediately documenting a financial transaction.
Electronic billing or electronic bill payment and presentment, is when a seller such as company, organization, or group sends its bills or invoices over the internet, and customers pay the bills electronically. [1] This replaces the traditional method where invoices are sent in paper form and payments are done by manual means such as sending ...
Depending on the purpose, the software can manage budgets, perform accounting tasks for multiple currencies, perform payroll and customer relationship management, and prepare financial reporting. [citation needed] Work to have accounting functions be implemented on computers goes back to the earliest days of electronic data processing. [1]
EDI and similar technologies allow a company to take advantage of the benefits of storing and manipulating data electronically without the cost of manual entry. Another advantage of EDI is the opportunity to reduce or eliminate manual data entry errors , such as shipping and billing errors, because EDI eliminates the need to re-key documents on ...
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The Committee produced its first booklet in 1959, An Introduction to Electronic Computers. Also in 1958 The Institute of Chartered Accountants in England and Wales produced a paper Accounting by Electronic Methods. [9] The notes show what may be possible and the potential implications of using a computer.
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