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business transaction executed electronically between parties such as: – Companies (business-to-business, B2B)

The earlier transaction processing systems were manual systems. Clerks would record transactions in a journal or on numbered multi part forms. These transactions would latter be transferred, manually, to a central system of hand written records or file folders representing individual customers or suppliers. These records would be set up to trigger statements to customers or checks of suppliers. Many small businesses still operate with manual transaction processing systems; however, inexpensive and easy to use computer technology is finding its way into more small businesses. To most businesses, manual systems present numerous problems that are solved by computer and communication technologies. This paper will cover some general properties of transaction processing systems, special transaction processing subsystem-pay roll, order entry, inventory, accounts receivable, accounts payable and others.