[IMGCAP(1)]Social accounting involves using new collaboration tools inspired by social networks to connect and engage in a business context.

In my last article on social media and accounting, (see Why Do I Need a Facebook for Finance?), I discussed how “social” is spreading to the enterprise and modernizing how we do business. With tools like salesforce.com’s Chatter that are embedded directly into cloud-based accounting and customer relationships management applications, all relevant documents and conversation streams are attached to accounts and transaction records, creating an instant audit trail of discussions pertaining to a business situation or event.

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