Electronic Accounting: The Essentiality of Rising Indian Business

Abstract

Electronic accounting is a rising concept in the area of accounting. In e-accounting, the procured documents and bookkeeping records are available in digital form instead of on a paper. This concept is also acknowledged at global level. The e-accounting helps in reducing the time, electricity, paper reduction and cost reduction at source. Due to advancement in Technology, new software are available for recording the bookkeeping and other monetary transactions Accounting has its own significance in carrying out the various functions in any organization and it is also called as the replica of the business. The conventional accounting is a time consuming method and it requires a year to complete the cycle process. Whereas, modern accounting gives a better and accurate results by one command through the computer.