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 .
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