The Finance Weekly

NOVEMBER 3, 2021

For both internal and external sources, each balance has to match the corresponding account in the general ledger. Inter-company transactions, currency exchange rates and various non-cash activities only complicate things in an already complex, time-consuming process. The Hindrance from Traditional Method Account Reconciliation.

Reconciliation 130

Reconciliation Automation Accounts Finance 130

PYMNTS

SEPTEMBER 23, 2020

The application will help to provide prioritization over what work is done, with automatic logging of correspondence and a built-in tonality based on the type of client. There will also be automated responses to vendor and supplier inquiries about invoice payment status, approval status and short pay issues, the release stated.

Automation 70

Automation Finance Correspondent Close Processes 70

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 24, 2024

Credit card reconciliation is the process of ensuring that the credit card transactions match the internal general ledger. Credit cards have made it easier for businesses to process payments. After this bring in the controllers or the designated finance managers who can review and provide the approval for the entire process.

Reconciliation 52

Reconciliation Credit Cards Correspondent Issuers 52

Nanonets

JUNE 18, 2024

Introduction to Account Reconciliation Account reconciliation is the critical process of comparing your general ledger with internal and external sources. Each balance should match its corresponding entry in the general ledger for any source. Retain all supporting documentation.

Reconciliation 52

Reconciliation Accounts Automation Credit Cards 52

Nanonets

JANUARY 31, 2024

Month-end close is a widely accepted accounting standard that is aimed at keeping an accurate set of financial records and detecting errors/fraud. Month-end reconciliation is the most important part of the month-end close process. Banking errors: Checks or ACH transfers are recorded on dates different from the processing date.

Best Practices 52

Best Practices Reconciliation Adjustments Correspondent 52

Nanonets

JUNE 23, 2023

Balance sheet reconciliation is a critical process in finance and accounting that ensures the accuracy and integrity of financial statements. While it may seem like a straightforward process, there are common mistakes that can hinder the effectiveness of balance sheet reconciliation. This process is known as the financial close.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52