Scope
Software integration is expensive; in the past, some evaluated the costs up to 40 percent of the IT budget of an enterprise. Accounting is a pivotal application for integration of in and out financial value of goods / services flows.
Accounting Token intends to reduce accounting integration costs in particular for small and medium businesses.
The processes in the supply chain provided by TBG1 describe the progress in a trade transaction for the supply of goods or services ordered, delivered, received, consumed, invoiced, paid etc. The encapsulation of the accounting token enables to directly liaise with accounting.
The succession of these controlled events combined with the availability of related account(s) identifier(s) makes possible accounts ubiquity and timely accounting. Ubiquity means that journals, ledgers, Accounts Payable, Accounts Receivable, etc. can be accessible from any interested party, and can rapidly and automatically reflect the flows. Customers and suppliers are both involved and the process could be expanded to other actors on provision accounts must be addressed.
Each document of the supply chain describes the current step in the course of the trade transaction up to completion. The Accounting Token defines the successive accounting accounts to use at the same successive steps of the supply chain.
The document information combined with the Accounting Token elements are necessary and sufficient to derive:
- - the related classical accounting double entry;
- - the related cost accounting entry, job, work, site, department, etc.
- - the related budget accounting entry.
| It is important to understand that the Accounting Token is not implementable by itself.
It can be embedded into a business model where and when accounting is or may be concerned. |
