technology

Question 1

Spreadsheets

Answer 1

Spreadsheets can be used in the finance department to automate calculations.

Question 2

online banking

Answer 2

Online banking (via the Internet) means there is less cash within the business, leading to greater security.

Question 3

Financial software

Answer 3

Financial software (such as SAGE) is commonly used to manage and process financial information

Question 4

EFTPOS

Answer 4

Electronic funds transfer point of sale (EFTPOS) is an electronic method of paying for goods.

Question 5

BACS

Answer 5

BACS is an electronic system used to make payments directly from one bank account to another.
It enables a business to transfer money securely and quickly between bank accounts.