EBizCharge

JULY 23, 2025

Duplicate entries: Easy to miss when you’re importing manually—double-check before you upload. Merchants using EBizCharge often find that their overall NetSuite credit card processing becomes faster, more reliable, and easier to audit. The post How to Import Credit Card Transactions into NetSuite appeared first on EBizCharge.

Credit Cards

EBizCharge

JULY 24, 2025

Mishandling deposits can create issues with revenue recognition and even result in duplicate revenue entries. The goal is to build a smooth, repeatable process that makes collecting and managing deposits easy to maintain, audit-ready, and aligned with how your business operates. It also keeps your liability balances clean and accurate.

Best Practices

EBizCharge

APRIL 22, 2025

Its also important to regularly audit user permissions and activity logs to detect any unauthorized access or unusual behavior. This process can identify any discrepancies, such as duplicate transactions or missed payments, before they become more significant financial issues.

Payment APIs and Integration

EBizCharge

JULY 14, 2025

That’s not a scalable system, especially if you’re growing or trying to meet strict audit standards. There’s less room for accidental duplication or missed transactions. Plus, with reliable audit trails and consistent rules in place, you’ll be more prepared for compliance reviews and reporting requirements.

Reconciliation

Fintech Weekly

JUNE 10, 2025

Without proper review, developers often introduce inconsistent logic, duplicate code, or small mistakes that balloon into major refactoring efforts later. Based on DevCom’s audit projects, we've seen companies incur avoidable costs due to inadequate review procedures. But that shortcut comes with a price.

Blockchain

Nanonets

JULY 13, 2023

However, one challenge that organizations often encounter is the presence of duplicate receipts. These duplicates can lead to errors in reimbursement calculations, compliance concerns, and inefficient use of resources. What are Duplicate Receipts? How to Prevent Receipt Duplication?

Duplicate

PYMNTS

JUNE 5, 2020

Ross Hampton , CaseWare head of business development, said the role of accountant and auditor “will be more important than ever in a post-pandemic financial world, where people will need to place even greater trust in numbers and accountability,” according to a press release.

Audit

FloQast

NOVEMBER 28, 2023

Recently, FloQast published an e-book on how technology can improve audit efficiency based on Ashley’s first-hand experience. Specifically, this can cover: Posting revenue to appropriate income accounts upon shipment ( 606 compliance! Most audit firms are now working with various analytical or data evaluation tools.

Audit

FloQast

JUNE 12, 2024

These inefficiencies not only led to wasted time and resources but also resulted in significant audit fees. Curis’s Success with FloQast: A Summary Eliminated $110,000 in external audit fees by combining Close and compliance efforts. .” That saved us $110,000 in outside audit fees.”

Compliance

The Fintech Times

FEBRUARY 14, 2024

Easier monitoring: Automated systems maintain an audit trail for all transactions, facilitating process monitoring and compliance with audits. Duplicate and fraudulent invoice detection : AI engines can identify potential duplicate invoices or invoices with unusual amounts and flag them for review.

Automation

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

FloQast

JANUARY 17, 2024

The consultation set out proposals for a range of legislative and governance reforms to be implemented in the Code in 2024, including the introduction of a new regulatory body, known as the Audit, Reporting, and Governance Authority (ARGA), which would replace the FRC.

Governance

Nanonets

AUGUST 1, 2023

Over the years, the auditing landscape has undergone remarkable transformations, and among the most significant advancements has been the advent of audit automation software solutions. Computer-Assisted Audit Tools and Techniques (CAATTs) have been available to auditors since the early 1990s. The situation has changed now.

Audit

The Payments Association

MARCH 25, 2025

Issuers must navigate domestic, EEA, and global payment network compliance requirements, which are further complicated by post-Brexit regulatory changes. Without clear answers, duplicated work can lead to mistakes, disputes, and unnecessary delays. In the UK, this challenge is even bigger.

Compliance

Nanonets

JUNE 19, 2024

We will walk you through the following in this blog post: Why is Vendor Reconciliation so important? By doing so, they can maintain good vendor relationships, detect fraud, and support audit trails.   Errors in logging payments correctly, duplicates, or missing entries may lead to incorrect reporting.

Reconciliation

FICO

MARCH 27, 2018

5) Reduce Duplicate Invoice Payments. Most ERP systems are designed to prevent duplicate payment of a single invoice. The challenge is that the business rules within the ERP system do not cover all use cases, and some duplicate payments are still issued. Reduction in effort to review and audit purchases. Conclusion.

Governance

Nanonets

NOVEMBER 30, 2023

For example, in the separation of duties, the accounts payable staff responsible for invoice processing can’t approve invoices for payment, complete payments without proper approval, make journal entries, or post transactions to the general ledger to close the books. 

Best Practices

Nanonets

SEPTEMBER 25, 2024

  Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. Maintain an efficient audit trail for future retrieval. Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions.

Process

FICO

APRIL 3, 2019

This can result in improper transactions slipping through, which has the potential to expose the organization to risk, bad audit findings and reputational damage. A lot of organizations have instituted significant manual processes to review and audit their data. PO Leakage where items were purchased without using preferred contracts.

Risk

The Payments Association

MAY 16, 2025

Next steps/action required: Commission a digital accessibility audit of all consumer-facing platforms and payment interfaces. Next steps/action required: Audit your current SCA exemption strategy and soft decline rates. Prepare financial models for potential savings or compliance costs post-ruling.

Regulations

FloQast

OCTOBER 27, 2023

Plus, it captures audit evidence at the source, eliminating duplicate audit activities and complexity. You can get a demo and see how to stay audit-ready, reduce risk, and save time. The post What is Compliance Management? appeared first on FloQast.

Compliance

Fintech Review

NOVEMBER 19, 2023

Transprency : A public ledger lists every transaction for anyone to audit. Avoiding duplicate material : Search engines penalize websites with duplicate material. The post Blockchain Technology and Its Implications for SEO appeared first on Fintech Review.

Blockchain

FloQast

JANUARY 22, 2024

For example, grocery technology company Instacart moved from using Google Sheet checklists for month-end Close to an automated system that provided a complete audit trail of changes. The traditional method also has a lot of paper documentation to use as an audit trail. And the audit trail is also attached and quickly recovered.

Automation

FloQast

JANUARY 22, 2025

Lack of integration results in: Data silos Greater risk of errors Duplicated efforts and thus more work for accounting departments Simply put, disjointed point solutions not only hinder efficiency but also erode trust in the systems meant to support accounting teams, leaving them overburdened and unable to perform at their best.

Accounts

Nanonets

NOVEMBER 15, 2023

Capture information and digitize documents You might receive purchase orders, receipts, and invoices from various channels — email, Dropbox, Google Drive, post, or even fax. Additionally, the invoices must be matched with the corresponding purchase orders and goods receipts to avoid duplicate invoices, fraud, and errors.

Accounts

Nanonets

MAY 6, 2024

This results in scattered files, versioning issues, the need to track down stakeholders for missing information, the generation of duplicate datasets, and more.   BlackLine also provides configurable dashboards and reports that offer insights into reconciliation status, performance metrics, and audit trails.

Reconciliation

Nanonets

APRIL 12, 2023

In this blog post, we’ll cover spend management in detail and how Nanonets can help automate the process. In this step, organizations validate and clean the data, removing any discrepancies, duplicates, or errors. However, managing expenses manually can be a time-consuming and error-prone process. What is spend management?

Duplicate

Nanonets

APRIL 16, 2023

Give Nanonets ™ a spin for higher accuracy, greater flexibility, post-processing, and a broad set of integrations with other Accounting, ERP systems & more! Give Nanonets ™ a spin for higher accuracy, greater flexibility, post-processing, and a broad set of integrations with Accounting, ERP systems & more!

Automation

Nanonets

MAY 21, 2024

Bank Errors : Banks can make errors in processing transactions, such as posting incorrect amounts or duplicating entries. Documentation and Record-Keeping: Maintain thorough documentation of the reconciliation process, including supporting documents, audit trails, and explanations for any adjustments made.

Best Practices

Nanonets

OCTOBER 1, 2024

That’s what we’ll explore in this post. The invoice is then filed for future reference or audits, completing the validation process. This leads to an overpayment, which is only discovered during the next audit cycle. The scheme is only uncovered weeks later during a routine audit. How do we break this cycle?

Best Practices

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

Nanonets

FEBRUARY 27, 2024

Streamlined Audit Trail: The precision of the date extraction and GL coding , and the subsequent automated data export to QuickBooks creates a clear, detailed audit trail. The Compliance Cruise Control:  Continuous, automated audits make life easier. All this management can be done on the Nanonets portal.

Automation

Nanonets

MAY 11, 2023

o   Are there performance issues post receipt that warrant withholding payment? The invoice and payment details are archived in the GL for future audits. Missed invoices lead to delayed payments and associated penalties, strained vendor relationships, delays in operation, and audit issues.

Process

Nanonets

JANUARY 17, 2024

Now, you might be thinking, "We've got this covered with our trusty spreadsheets and quarterly audits." Maintaining a thorough and easily accessible audit trail is essential for compliance and transparency. Audits aren't just about compliance; they are about ensuring the integrity of financial reporting.

Payment APIs and Integration

Nanonets

DECEMBER 6, 2023

Applicant tracking systems automate job postings, resume screening, and candidate communication, enabling HR teams to efficiently manage large volumes of applications. This reduces the risk of non-compliance, avoids penalties, and provides a secure and auditable HR environment. Let's discuss few HR processes we mentioned above.

Automation

Nanonets

MAY 21, 2024

Common discrepancies may include unapplied payments, duplicate entries, or incorrect customer balances. Documentation is essential for audit purposes and ensuring transparency in financial reporting. Investigate Discrepancies: Identify and resolve unapplied payments, duplicates, or errors.

Reconciliation

Nanonets

MAY 6, 2024

Duplicate Entries : Accidentally recording the same transaction multiple times can inflate balances and create discrepancies during reconciliation. Incorrect Account Mapping : Misclassification of transactions or posting entries to the wrong accounts can lead to inaccuracies in ledger balances and hinder the reconciliation process.

Reconciliation