Remove 2020 Remove Adjustments Remove Close Processes
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Four Techniques Companies Use To Advance In Today’s New Economic Environment

The Finance Weekly

It's possible that what your customers wanted in early 2020 will differ from what they want now. So, how can businesses take advantage of automation to speed up the financial close? Think through the “extended” process. But how can your company begin to take advantage of this expansion opportunity? Assess what your clients want.

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What are GL Codes and how to assign them effectively?

Nanonets

For instance, assigning a GL code to marketing expenses allows a business to track its marketing budget performance closely. If a digital marketing agency notices that its expenses in the GL-coded marketing category are consistently over budget, it can take targeted actions to adjust its marketing strategies or budget allocations.

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Credit Card Reconciliation: What It is and How to Do It?

Nanonets

Billion in 2020 only for North American regions. With the rising company transactions comes the credit card reconciliation or reconciliation process. Nanonets is an AI-based accounting automation software that leverages powerful OCR software, no-code workflows, and out-of-the-box integrations to simplify your accounting processes.

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General Ledger (GL): Definition, Significance, Implementation

Nanonets

The general ledger is a detailed record of all monetary transactions adjusted for the lifetime of your firm. Inefficient Approval Workflows : Traditional processes often involve cumbersome approval chains that delay payments and complicate cash flow management.