Source documents for accounting transactions A company’s everyday activity can involve various transactions, such as the purchase or sale of goods or services, payments to staff, receiving or granting of loans, payment of taxes, penalties and loan interests. In accounting, any commercial action by a company is to be duly formalized as a bookkeeping entry….

Electronic trade In recent years, electronic trade has gained widespread acceptance and currently includes: Online sales of physical goods and services, as well as sales of digital products (downloadable music, e-books, downloaded virtual products, and games); Electronic banking and insurance services; Online auctions; Electronically supplied telecommunication services; Remote development and servicing of programs and equipment;…