eCommerce Accountant – Understanding the eCommerce Terminology

E-Commerce is known as an expression that is being used in every kind of trade that is done all over the internet. eCommerce accountant the person that plays the role of a bridge between the product and the buyer. There are many subjects involved in e-commerce trade such as options, trending online goods, online shopping from retail websites, and business services between companies. In modern days, E-Commerce has become the most important tractor for Internet shopping.

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How does E-Commerce help?

Because of e-commerce, we are allowed to Exchange Services and goods by surpassing the barriers of distance and time. It involves online transactions, most of the time, the transfer of money in exchange for online services or goods. The uses of e-commerce are too many, and some of them are given below:

  • Virtual Malls, which are also known as e-tailing or online retail selling in the stores.
  • It is very easy to gather demographic data from the internet.
  • You can exchange the electronic data in the form of fax and email.
  • Business to consumer( B2C) E and business to business ( B2B) for buying and selling.

Virtual stores or E-tailing:

A virtual store is considered as one of the best achievements of e-commerce accounting Technology. Everything is available in these stores, and you can do the shopping for 24 hours with a sophisticated and interactive interface. Because of the virtual stores, the internet becomes a billion dollars source of revenue for people. From the past four years, the online business of virtual stores has been reached to the skies, and even now it continues to grow.

Market research:

because of e-commerce, it becomes very easy to find and collect information about businesses and consumers. Most of the time, it is done with the help of questionnaires, registration forms, and order filling forms. This is also called demographic data collection, and it is proved to be very successful for the point of view of those companies who are doing online businesses.

Electronic data interchange:

Electronic data interchange, which is also known as EDI, business in the form of electronic payment systems and electronic catalogues. To make it simple, electronic data interchange is a standard electronic document that companies exchange with each other. It is the same as an e-commerce accountant. Nowadays, the most advanced form of electronic data exchange is ebXML and XML, and they are going to replace the traditional EDI.