Banks in today's modern age, respectively in modern economies around the world, represent a significant aspect of socio-economic life. Namely, with their various functions and activities, they support the process of expanded social reproduction and provide active support in the realization of economic policy goals. Throughout historical development, banks have constantly expanded their functions and operations, by investing in the development of new ones, but at the same time not abandoning their core, old functions and operations. The aim of this paper is to show how banks have begun to actively use and include all the benefits of the Internet in their operations and to point out the importance of the development of Electronic Banking. Namely, the Internet was firstly used for the purpose of facilitated communication and business in general, and a few years later the Internet became an essential tool in doing business with the clients as well. This way, the so-called modern banking was developed, with the basic goal of improved quality of services and simpler and faster business. From all of the above, new concepts such as electronic banking and electronic money are being introduced in business. The subject of this paper is the presentation of electronic banking on the example of Zagrebačka banka, and the aim of this paper is to point out the specifics of accounting monitoring and reporting on electronic banking of Zagrebačka banka. This paper explains and analyzes Electronic Banking, which is a completely new form of banking operations with a previous explanation of banks and their operations, with emphasis on the accounting aspect of observing the above. Furthermore, the paper will present protocols for the use of electronic money and the types of electronic monetary systems. Through the paper, along with theoretical starting points, research and quantitative examples, the basic elements of Electronic Banking will be explained. The conclusion of the paper indicates the importance of Electronic Banking on social life and shows the impact of stated way of doing business on the entire banking system.