E-accounting - Online Accounting Class

E-accounting or online accounting, is the application of online and Internet technologies to the business accounting function. 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.

E-accounting involves performing regular accounting functions, accounting research and the accounting training and education through various computer based /internet based accounting tools such as digital tool kits, various 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 to provide efficient decision making.

Online accounting through a web application is typically based on a simple monthly charge and zero-administration approach to help businesses concentrate on core activities and avoid the hidden costs associated with traditional accounting software such as installation, upgrades, exchanging data files, backup and disaster recovery.

E-accounting does not have a standard definition but merely refers to the changes in accounting due to computing and networking technologies. Most e-accounting services are offered as SaaS (Software-as-a-service).

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Uses

• Accounts payable
• Accounts receivable
• Payroll
• Job costing
• Financial write-up and reporting
• Bank and account reconciliations
• Quarterly tax reporting
• Compliance reporting
• Tax return preparation
• Internal financial consultant
• Establish the control system
• Inform those concerned of financial condition
• Supply the business with adequate information
• Maintain contact with government agencies, bankers, etc.
• Provide insight, courses of action
• Facilitate future planning and growth

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