Internet Law - E-commerce Sellers to Store Business Records Electronically.

The United States requires E-commerce sellers to store their business records electronically. To have confidence in the processes and methodology used to store records electronically, the Internal Revenue Service promulgates acceptable standards of electronic record keeping for tax purposes.

Today, many businesses use electronic data interchange (EDI) as a means of storing and transferring data. Through EDI, sellers and consumers complete transactions and exchange data and documents, including sales invoices and purchase orders. EDI reduces the need to prepare and retain hard-copy documents, as they can be stored electronically.

E-commerce transactions are stored on a computer-readable medium, such as a disk, tape