The Finance Weekly

NOVEMBER 3, 2021

Data sources used to reconcile and compensate account balances include sub-ledgers for HR and fixed assets, bank statements and schedules of payable and receivable accounts. For both internal and external sources, each balance has to match the corresponding account in the general ledger.

Reconciliation 130

Reconciliation Automation Accounts Finance 130

FloQast

NOVEMBER 11, 2024

In every accounting department I’ve been a part of, a crucial period rolls around at the end of each month: the month-end Close. The month-end close process is the culmination of a month’s worth of financial transactions, when all hands are on deck to ensure the company’s financial records are accurate and up-to-date.

Reconciliation 52

Reconciliation Close Processes Accounts Transactions 52

Nanonets

JUNE 23, 2023

It involves comparing the balances of various accounts listed in the balance sheet to external documentation, such as bank statements and general ledger entries. This process is known as the financial close. The extracted data is then used for the reconciliation process.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

FloQast

JANUARY 22, 2024

Bank statements can be automatically matched against the cash ledger, leaving only the exceptions to be investigated by staff. From financial statement analysis to bank reconciliations, the range of functions you can automate is diverse. What Financial Reporting Functions Can You Automate?

Automation 52

Automation Reconciliation Audit Accounts 52

Nanonets

FEBRUARY 28, 2024

GL Coding General Ledger Codes, or GL Codes, are unique alphanumeric strings that classify and record financial transactions within a company’s general ledger into corresponding GL account. Each GL account is associated with corresponding GL code. 02/04/24 Bank Loan - ABC Bank, Loan #987654 104 5000.00

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52

Nanonets

FEBRUARY 14, 2024

The result is a faster, more efficient close process that also saves up your time which can be better spent elsewhere. Here, you'll be able to view, add, edit, or delete accounts and their corresponding GL codes. How to Assign GL Codes? This is typically found within the settings or system setup menu.

Transactions 52

Transactions Audit Accounts Automation 52

EBizCharge

NOVEMBER 11, 2024

The reconciliation process helps identify discrepancies between the records, such as between a company’s bank statement and its cash balance in the accounting system. Accounting reconciliation is critical for maintaining financial accuracy and involves different types, such as bank and credit card reconciliation.

Reconciliation 52

Reconciliation Best Practices Non-Bank Audit 52