E-Commerce and Accounts Receivables |
E-Commerce and Accounts Receivables
Currently working as an accounts receivable clerk I deal with e-commerce daily. The name of the company I work for is called BurgaFlex North America. We use a data exchange system called Vantage Point to exchange important financial information to our vendors and suppliers. Purchase orders, sales orders, invoices, and other important financial documents are electronically transmitted and received by an electronic data interchange system. The way this works is our customers place orders online, we receive the orders in electronically to Vantage Point, we transmit an acknowledgement back to the customer notifying the order has been received and ship the customer the requested items. These processes eliminate paper and in essence reduce costs. By integrating Vantage Pont and Microsoft Great Plains Dynamics software we are able to be a participant in e-business and e-commerce. Many of our vendors submit payment electronically as well by electronic fund transfers into our bank accounts. Another great thing about e-commerce is the ability to check invoice status and shipment status online over the internet. E-commerce has reduced processing errors, procurement costs, and saved time and money on business expenses. Researching online I have learned that e-commerce and accounting is growing and expanding into many businesses today. Intuit offers a QuickBooks application that Meets ecommerce needs with desktop and web applications developed by Intuit and trusted, third-party developers. These software applications can help companies sell online, manage shopping carts and accept online payments (Intuit 2012). Many companies are marketing and growing into a more paperless environment by using e-commerce to handle business transactions through the web.
Intuit. (2012). Intuit. Quickbooks E-Commerce Integration Retrieved from...