ELI5: Explain Like I'm 5

E-accounting

E-accounting is like a piggy bank. You know how you put money in your piggy bank to save it? Well, that's kind of like how adults use e-accounting to save and keep track of their money when they're working.

But instead of a physical piggy bank, they have a special computer program or website where they can store all of their important financial information. This program helps them keep track of their income (how much money they make), expenses (how much money they spend), and savings (how much money they have left over).

People can use e-accounting to do things like pay bills, track their expenses and savings, and even prepare their taxes. It's kind of like having a virtual accountant that helps them organize their money and stay on top of their finances.

With e-accounting, people can access their financial information from anywhere, as long as they have an internet connection. They can also share their financial information with others, like their partner or accountant, so they can work together on their financial goals.

Overall, e-accounting is a helpful tool that adults use to keep their finances organized and make sure they're making the most of their money.