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Special Journals: Cash Receipts , Page 21

Internet Salesa globe representing the Internet in the background and currency notes

Today, companies increasingly sell products with little expense and effort over the Internet. However, they still need to have procedures and systems for processing online sales transactions. Companies may use an Internet merchant account for credit and debit card payments or an online payment service such as PayPal. Most Internet sales systems make batch transactions daily to provide updated sales and inventory entries for the company’s computer systems. 

Security is an important requirement of online sales transactions. Businesses use a card verification service to authenticate credit card security codes and personal identification data to protect themselves from online fraud.