E-accounting (or online accounting) is the application mahjong ways 2 of online and Internet technologies to the business accounting function. Interchangeable to e-mail being an electronic version of traditional mail, e-accounting is the “electronic enablement” of legal accounting and traceable accounting processes that were traditionally manual and paper-based.
E-accounting involves performing regular accounting functions, accounting research, and the accounting training and education through various internet-based or computer-based accounting tools, like a digital tool kits, different internet resources, international web-based materials, institute and company databases. Which are internet based, web links, internet based accounting software and electronic financial spreadsheet tools for efficient decision making.
Contents
What is E-Accounting
E-Accounting or online accounting is a new development in the field of accounting. This means that all your transactions will be recorded in an online server or data base just like a website or blog or web blog. But to open or create an account, login ID and password will be used. E-accounting is still in the developing era and by 2010, it will definitely starlight princess commercialize the use.
There are a large number of companies that have introduced e-accounting. Both the accountant and the employer feel satisfaction in e-accounting because it is cheap and without software defaults or failures. Your accounts are saved in an online server or database, so there is no need to record manually. In this way we can save huge amount of money spent on manual books and different accounting software.
What are the Features of E-accounting?
Today, almost all modern accountants are using e-Accounting when they use Tally.ERP 9 through Server or when they use any ERP package.
Universal Access
Today, I was at the post office for delivery of a parcel of my products which I sold through my other ecommerce website. A customer at the post office called me to know the price of his product. I had a 3G smart phone. I just accessed my database, where I found a list of prices for the value of her interest. I called back and told the same information and was able to get another order on time for delivery.
Good Collaboration
If you are a team member of an accounting department that has a lot of departments, you can collaborate with each other with e-Accounting. In this facility you can help each other to maintain company accounts.
Also check:
Quick Corrections and Results
If there is a mistake, there is a greater slot bet 100 chance of an accounting mistake being rectified faster because a larger number of team members can reach out faster. Many experts are just for monitoring, therefore, it will bring accurate and accurate financial results.
Fast Record With Advance Technology
Today all accounting software companies want to be number one. No.1 in the market, but there is huge competition in the market. Hence, these accounting software companies are doing a great job of innovation. So, every day, you will see new and updated hacks, shortcuts for faster recording. So, enjoy this convenience of e-accounting.
Strict Control
Now, it is impossible for hackers to hack the accounting database because ethical hackers are working in the development of advanced accounting software creating strict security to access accounting information.
Record of large scale business
Today is the time to work hard, not laziness. Because business is growing rapidly. Today I have a lot of projects as my work has increased. So, thanks to the automation system of e-accounting which helps our business to record while increasing its scale.
Adjust with Laws and Accounting Standards
By installing new utilities, any accounting software can adjust with new revisions of any laws and accounting standards.
Modifications Possible
If you shift from one business model to another, your accounting software may also change its configuration.
Benefits of E-Accounting
- No need for house clerks, preparation and expertise.
- No correspondence difficulties between the bookkeeper and the business owner.
- Less expense.
- Save time and money.
- There are no need to download and install any software.
- Gain greater control over finances by moving from paper records to computerized accounting software.
- Transactions affecting the organization’s bank records may result in being sent online
- Accounting Application.
What are the uses of E-Accounting
- In the E-accounting accounts Payable
- In this accounts Receivable
- E-accounts Payroll
- E-accounts job cost
- If we see financial writing-up and reporting
- Bank and records reconciliation
- Quarterly assessment reports
- Compliant reporting
- Tax Return Preparation
- Internal money related specialist
- Provide understanding, courses of action
- Facilitate future arrangement and development.
What are the E-accounting and & Banking
E Accounting & Banking is a professional course which will help you in job hunting or open avenues of job opportunities for you. This course covers all the major aspects of business activity for various industries like Accounting, Manufacturing, Taxation, Banking, Payroll etc.
Professional Diploma in E- Accounting & Banking (PDEAB) is the best course for the students who want to make their career in Graphic Designing field. This is a six months diploma course on computer for any student especially commerce stream students who have completed their 12th can join e accounting and banking course to make their career in accounting and banking field can.
This course helps in providing information related to research in the field of web technologies and computer applications of the digital world. It provides complete knowledge of web skills in computer which demands a skilled person to handle computer along with e accounting and banking projects. Commerce stream students can join e-accounting and banking courses.
E-Accounting & Accounting software
- According to Susan et al (2016), e-accounting as an application of online and internet technologies for business
- Accounting work. E-accounting has been universally adopted, it is the online recording of financial transactions on a server or
- Like a database, website or web blog, which would normally require a login ID or password to access the account.
- It is a type of application software that records and processes accounting transactions within functional modules such as
- As Accounts Payable, Accounts Receivable Journal, General Ledger Payroll and Trial Balance. It acts as an accounting
- Information system. As computers got more powerful, programmers created more generalized software
- Serve many different customers.
Conclusion
E-accounting is a newer development in the field of accounting. In this system, every document and record is present. In digital form instead of paper. All major institutes and organizations at national and international level. In favor of e-accounting. In other words electronic accounting practices have provided time saving, synchronous and comparable. Presentation of financial statements becomes easy. On the other hand, there has been an electronic audit concept.
Brought forward by carrying forward the audit activities through electronic to electronic environment. Entries and documents. However, data security, broadband speed, internet connection, network connectivity. Etc. are the fundamental problems related to e-accounting. Hence, being a professional, Chartered Accountant of India are fully confident about work process, ensure service integrity, adhere to professional ethics and To build trust among customers for long lasting business relationship. Hence accounting for urban and rural development is essential in the present scenario.
FAQs
In the global economy, electronic accounting or e-accounting is defined as any accounting system that is based on information communication technology to capture and process the financial data of a business. E-accounting primarily relies on computers, although it can be used on other devices as well.
It helps businesses keep their financial data and accounting software in a safe, secure environment that allows real-time access to authorized users, regardless of their location or computing platform.
Ecommerce accounting involves collecting, organizing, evaluating, and reporting a business’s financial data. This includes performing a variety of accounting tasks for your ecommerce business. It also requires e-commerce bookkeeping, whereby all financial records are stored and organized.
After completing this course, students will be awarded the Oxford Certified e-Accounting Professional Certificate. , Students can also appear for other certification exams like Tally, Busy, CCC, Microsoft Office Specialist and Webtel.
By efficiently documenting cash flow, small businesses avoid a very common pitfall that is running dry of cash. Accounting allows entrepreneurs to better understand the financial well-being of their business as they learn to understand the income statement, cash flow statement and balance sheet.
E-Accounting helps in reducing the expenses of the company. This is the biggest advantage of online accounting. Accounting software helps to eliminate manual work in traditional accounting. Computerized accounting helps professional accountants reduce full-time employees and costs.