Accounting In The Realm Of Electronic Commerce

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...especially when those systems handle all of the accounting functions of a business. These can be as far-reaching as to include everything from the in-house books to information outside the immediate control of the company such as the 401(k) retirement program and the company’s stock investment portfolio. Rather than reentering information from these outside vendors into in-house systems, as was done in the past, accounting information can be downloaded via electronic commerce (ecommerce) from financial institutions around the world. Therefore, there is no investment in data processing resources for entering diverse accounting data, nor is there backload of un-entered data since ecommerce can be real-time. In consideration of time and money saved, there is no downside that makes ecommerce inadvisable.

Use of Internets and Intranets
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