Electronic funds transfer
Electronic funds transfer is an electronic system that transfers funds without the use of paper checks.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Electronic funds transfer. An electronic system that transfers funds without the use of paper checks.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
