E-Accounting or Online Accounting is new development in field of accounting . It means all your transactions will record in online server or data base , just like website or blog or web blog . But for opening or making accounts will uses login id and password . E-Accounting is just in the developing age and up to 2010 , it will surely commercialize use . There are large number of companies who started E-Accounting . In E-Accounting the accountant and employer both feel satisfaction because , this is cheep and without software defaults or failure . Your accounts saves in online server or database , so there is no need to record manually . By this way we can save large amount of money spending on manual books and different accounting software .
Some basic concepts , you should know in E-Accounting that it need learning because without learning of E- Accounting , you never expert in E-Accounting . Almost all companies uses same system of online accounting but some advance companies makes own system of their online or E-Accounting . They need only those dedicated person who know Internet and computer well , without this they can not appoint any E-Accountant . E-Accounting Concept is adopted international level . The International Accounting Standards Board is also in favour of E-Accounting . It is developing new standards which can be utilized for E-Accounting at international level. The International Federation of Accountants is searching all the tools of E-Accounting for quality accounting education and its development . There are long list of international accounting organisations who is supporting E-Accounting . We can include in this list The UK's Financial Reporting Review Panel , The UK and Irish Auditing Practices Board , American Accounting Association (AAA) , Association of Chartered Certified Accountants , Accounting Education foundation of Nova Scotia , Foundation for Accounting Education .
In other words all major institution and organisation are in the favor of E-Accounting . In this all major accounting relating to General ledger Book keeping and maintenance , Bank reconciliation MIS Cash management , Account Payable and Receivables , Billing Payroll , Budgeting Management of Records Asset , management Detailed financial analysis , Collection management , Credit management , Generation of financial reports Financial statements are totally online . Company's all accounting project can be easily outsourced by E-Accounting system .
Internal Links With E-Accounting
Some basic concepts , you should know in E-Accounting that it need learning because without learning of E- Accounting , you never expert in E-Accounting . Almost all companies uses same system of online accounting but some advance companies makes own system of their online or E-Accounting . They need only those dedicated person who know Internet and computer well , without this they can not appoint any E-Accountant . E-Accounting Concept is adopted international level . The International Accounting Standards Board is also in favour of E-Accounting . It is developing new standards which can be utilized for E-Accounting at international level. The International Federation of Accountants is searching all the tools of E-Accounting for quality accounting education and its development . There are long list of international accounting organisations who is supporting E-Accounting . We can include in this list The UK's Financial Reporting Review Panel , The UK and Irish Auditing Practices Board , American Accounting Association (AAA) , Association of Chartered Certified Accountants , Accounting Education foundation of Nova Scotia , Foundation for Accounting Education .
In other words all major institution and organisation are in the favor of E-Accounting . In this all major accounting relating to General ledger Book keeping and maintenance , Bank reconciliation MIS Cash management , Account Payable and Receivables , Billing Payroll , Budgeting Management of Records Asset , management Detailed financial analysis , Collection management , Credit management , Generation of financial reports Financial statements are totally online . Company's all accounting project can be easily outsourced by E-Accounting system .
Internal Links With E-Accounting
I am not positive where you are getting your information, but great topic. I must spend some time finding out more or figuring out more. Thank you for fantastic info I was looking for this information for my mission.
ReplyDeleteThis post is good.it helps me to understand more about the accounting. keep up the good work accounting definition
ReplyDeleteThank you for this post , that's help me to writing more about e- accounting.
ReplyDelete