VISTA InfoSec

MARCH 6, 2024

Changes Access Controls "Limit viewing of audit trails" to those with a need. Testing aligns with the slightly narrowed focus (read access) but retains the emphasis on practical verification. Minor adjustments to testing scope. audit log security principles are mostly unchanged. when it comes to logging and monitoring.

PCI DSS 130

PCI DSS Procedures Best Practices Risk Assessment 130

VISTA InfoSec

NOVEMBER 4, 2024

Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes. Best practices for implementing the DORA compliance 1. Prepare for compliance audits Document all compliance efforts meticulously, from gap analyses and risk assessments to remediation actions.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes. Best practices for implementing the DORA compliance 1. Prepare for compliance audits Document all compliance efforts meticulously, from gap analyses and risk assessments to remediation actions.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes. Best practices for implementing the DORA compliance 1. Prepare for compliance audits Document all compliance efforts meticulously, from gap analyses and risk assessments to remediation actions.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Regular reviews and audits ensure your systems and processes stay aligned with regulatory changes. Best practices for implementing the DORA compliance 1. Prepare for compliance audits Document all compliance efforts meticulously, from gap analyses and risk assessments to remediation actions.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

VISTA InfoSec

MAY 2, 2024

Instead, you pay a predictable monthly fee that adjusts based on your specific needs and growth—a much more budget-friendly approach. Managed IT service providers use proactive monitoring and maintenance practices that quickly spot and fix issues before they turn into major headaches.

Cybersecurity 130

Cybersecurity Legal Compliance Best Practices 130

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. Monthly reporting : Payment firms must submit monthly regulatory returns, allowing the FCA to monitor trends and intervene if safeguarding practices fall short.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

EBizCharge

AUGUST 5, 2024

This article will explain what billbacks are, how they work, and best practices for managing them. A billback is an adjustment made to an invoice to reflect additional charges or credits after the transaction has been completed. These challenges make staying informed on best practices for managing billbacks imperative.

Best Practices 52

Best Practices Adjustments Disputes Processors 52

Nanonets

SEPTEMBER 25, 2024

We'll also guide you through setting up an efficient bank statement processing system and share best practices to transform this data flood into a strategic asset.   Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. 💡 Best practices:  1.

Process 52

Process AI Best Practices Reconciliation 52

Clearly Payments

JANUARY 8, 2024

Chargeback Management Best Practices Chargebacks pose a significant challenge for merchants, impacting both financial stability and reputation. Implementing effective chargeback management practices is essential to minimize their occurrence and address disputes promptly. Read this article on what is a good chargeback rate.

Risk Management 97

Risk Management Risk PCI DSS Process 97

Nanonets

JUNE 21, 2023

This article will provide a comprehensive guide to reconciling payments, its importance, challenges faced, best practices, and the role of automation in enhancing the process. Compliance and audit requirements Various industries and regulatory bodies mandate accurate and auditable financial records.

Payment Reconciliation 52

Payment Reconciliation Reconciliation Best Practices Automation 52

Stax

FEBRUARY 5, 2024

That’s why understanding surcharging—including its definitions, types, calculating methods, and best practices—can help you incorporate surcharging into your operations. Common in transportation and logistics, fuel surcharges adjust for fluctuations in fuel prices. How fair and equitable are your surcharging practices?

Credit Cards 88

Credit Cards Legal On-Demand Regulatory Compliance 88

FloQast

APRIL 8, 2024

In this article, we define what a SOX material weakness is and provide actionable strategies and best practices to avoid it. This can impact the company’s stock price and ability to secure financing and increase external audit costs. Regular internal audits. Collaboration with audit firms and external auditors.

Compliance 52

Compliance Audit Best Practices Risk Assessment 52

The Finance Weekly

AUGUST 7, 2024

Its key features include data import, consolidation, and validation, budget creation and formulas, a native Excel interface, a generative AI chatbot called FP&A Genius ; automated dashboards and reports , and custom dashboards with detailed drill-down and audit trails. Simplified auditing with a log of historical modifications.

AI 130

AI Automation Finance Audit 130

Nanonets

FEBRUARY 21, 2024

Businesses are encouraged to familiarize themselves with the procedural steps of cash reconciliation, adopt best practices to enhance accuracy, and consider the benefits of automating the process to mitigate risks associated with manual reconciliation. Recording the starting cash amount in the drawer, itemized by bill and coin types.

Reconciliation 52

Reconciliation Best Practices Point-of-Sale (POS) Automation 52

Neopay

DECEMBER 5, 2024

Audit Support : Neopay provides independent audits of your financial crime systems, giving you peace of mind that your controls are robust and meet regulatory standards. We ensure your approach to financial crime risks is in line with both FCA expectations and best practices.

Financial Crimes 52

Financial Crimes Crime Money Laundering Risk Assessment 52

Nanonets

JUNE 23, 2023

At the end of each accounting cycle, the accounting or finance team of a company reviews its accounts and adjusts balances. This may involve adjusting journal entries, contacting relevant parties for clarification, or updating records to reflect accurate balances. Document the steps taken, findings, and any adjustments made.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

Nanonets

FEBRUARY 9, 2024

It also applies to accounting firms, audit agencies, and any third party that a publicly traded company uses in its accounting management process. The act requires companies to develop, publish, audit, and actively use their ICFR. A detailed look at specific findings and any issues arising from audit. What is an ICFR Audit?

Audit 52

Audit Risk Assessment Assessments Procedures 52

Stax

FEBRUARY 28, 2024

For best practices, integrate it with your other systems, offer flexible plans for optimized cash flow, and ensure data security compliance to industry standards. The exact process varies depending on the software you use, but Stax Bill features a user-friendly interface for such adjustments. Real-time insights.

Payment APIs and Integration 88

Payment APIs and Integration Automation PCI DSS Best Practices 88

Nanonets

APRIL 1, 2024

Failure to maintain this discipline can lead to financial pitfalls, including overdrafts, bounced checks, and inaccuracies in financial reporting and auditing practices. Proper management involves regular reconciliation , communication with payees, and adherence to best practices to mitigate risks.

Reconciliation 52

Reconciliation Checks Automation Process 52

Nanonets

MAY 21, 2024

Adjust Ledger Balances: Make necessary adjustments to the accounts receivable ledger to correct any errors or discrepancies. Document Reconciliation: Maintain detailed records of the reconciliation process, including any adjustments made and the reasons for those adjustments.

Reconciliation 52

Reconciliation Accounts Adjustments Correspondent 52

Nanonets

JULY 21, 2023

This could involve making adjustments to the general ledger, correcting errors, or seeking clarification from external parties. Make the necessary adjustments and ensure that all transactions are accurately recorded in the appropriate accounts. Once the cause of the discrepancy is identified, take the necessary steps to resolve it.

Reconciliation 52

Reconciliation Automation Audit Accounts 52

EBizCharge

JUNE 4, 2024

Regular audits and updates are crucial to maintaining a secure payment environment, as well as educating your team about the best practices for handling sensitive data. Regular system updates and employee education on security best practices contribute to maintaining a secure payment processing environment.

Credit Cards 52

Credit Cards Process Payment Gateways Best Practices 52

Nanonets

MAY 6, 2024

This process includes verifying transactions against payroll registers and tax reports, ensuring that tax withholdings match figures reported to tax authorities, accounting for accruals and adjustments related to payroll expenses, and verifying the accurate calculation and recording of employee benefits and deductions.

Reconciliation 52

Reconciliation Payroll Automation Transactions 52

EBizCharge

JULY 12, 2024

Enforcing explicit procedures for approval and reimbursement creates a standard for audits. Clear documentation rules support transparency and ease auditing, reinforcing the company’s commitment to financial accountability. Additionally, it simplifies the expense reporting process, aiding in seamless bookkeeping and budgeting.

Best Practices 52

Best Practices Compliance Procedures Process 52

Nanonets

MAY 6, 2024

  BlackLine also provides configurable dashboards and reports that offer insights into reconciliation status, performance metrics, and audit trails. Audit Trails and Compliance : BlackLine maintains detailed audit trails of all reconciliation activities, providing a comprehensive audit trail for compliance purposes.

Reconciliation 52

Reconciliation Accounts Audit Automation 52

EBizCharge

MAY 14, 2024

With automation, businesses can easily adjust billing structures without requiring manual intervention or adjustments to their billing systems. Now that you know how to set up automated billing, you should familiarize yourself with some best practices for implementing it into your business.

Automation 52

Automation Payment APIs and Integration Best Practices Online and Mobile Banking 52

Neopay

JUNE 27, 2024

Financial crime risk assessment: Ensure that business activities are regularly reviewed against possible financial crime risks, appropriately assessed against probability and impact and adjusted against the firm’s risk mitigation systems and controls.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Risk Assessment 52

Nanonets

SEPTEMBER 22, 2023

Implementing best practices, such as prioritizing invoices and establishing internal controls, can improve the accounts payable process. Implementing best practices is also crucial for optimizing accounts payable processes. This report helps identify any discrepancies or errors that may exist between the two systems.

Accounts 40

Accounts Master Account Best Practices Reconciliation 40

PYMNTS

JANUARY 26, 2018

Corporate accounting software is now a continually evolving space, but progress doesn’t occur in a vacuum: External forces and trends, from changing regulations to increased adoption of FinTech by the enterprise, force businesses to adjust how they record and report financial data.

Close Processes 47

Close Processes Innovation FinTech Accounts 47

Nanonets

MAY 7, 2024

Through this guide, we will define what expense reconciliation is, explore its significance to companies, the formal methods of going about it, as well as the challenges and best practices involved. This may include regular review and validation of financial transactions, segregation of duties, approval workflows, and periodic audits.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

FEBRUARY 6, 2024

Its primary aim is to accurately account for all transactions and adjust accounts according to intercompany accounting rules. This process is critical for audit, taxation, and legal compliance. Forex Adjustment: Set a currency adjustment rate and convert all transactions into one currency.

Reconciliation 52

Reconciliation Adjustments Automation Transactions 52

Nanonets

FEBRUARY 14, 2024

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. This step helps identify any issues in your GL code setup, allowing you to make necessary adjustments.

Transactions 52

Transactions Audit Accounts Automation 52

Nanonets

JULY 21, 2023

In addition to accelerating the reconciliation process, reconciliation software also enables an audit trail, significantly improving transparency and accountability. Once approved, the reconciled data is securely stored in a centralized database, ensuring an auditable trail.

Reconciliation 52

Reconciliation Payment APIs and Integration Online and Mobile Banking Automation 52

Nanonets

JULY 24, 2023

For publicly traded companies, account reconciliation is not just a good practice—it is a legal requirement. Inaccurate reconciliations can result in penalties during audits, posing a risk to compliance and financial stability. What are the benefits of finance reconciliation?

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

Nanonets

MARCH 4, 2024

Updating and Evolving Policies: Bi-annual reviews to adjust limits and categories as per market rates and company growth. The management team, acknowledging the practical challenge, decides to adjust the policy. 5 Best Reconciliation Software in 2024 Explore the best software reconciliation tools of 2024.

Process 52

Process Compliance Audit Automation 52