In the expenditure cycle,financial data electronic interchange increases efficiency by

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Financial data electronic interchange allows for electronic payment processing, eliminating the need to prepare and mail physical checks. This increases efficiency by reducing the time and resources required for payment processing. However, it does not eliminate the need for receiving reports, vendor invoices, or purchase orders, which are still necessary for accurate and complete financial record-keeping.

In the Expenditure Cycle,financial Data Electronic Interchange Increases Efficiency by