Features of real-time processing
This system is a departure from traditional accounting.A central feature of the system is the use of an events database.Traditional accounting records may not exist peruse. For instance, in this example the sales invoice file replaces the sales journal and AR-SUB ledger.total sales is the sum of all invoices for the period. Summing the open sales invoices provides accounts receivable information . In theory,such a system does not even need a general ledger because sales, sales returns, account receivable control, and cost of goods sold can all be derived from the invoices in the events database.most organizations,however,prefer to maintain a separate general ledger file for efficiency and as a cross check of processing accuracy.