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

Nanonets

APRIL 19, 2024

Petty Cash Reconciliation: What is It, Best Practices, and Automation Petty cash, also referred to as a small cash fund, is a fixed amount of money reserved for minor expenses in a business.   Looking out for a Reconciliation Software? What are the Steps Involved in Petty Cash Reconciliation?

Best Practices 52

Best Practices Reconciliation Automation Procedures 52

FloQast

OCTOBER 21, 2024

With lines upon lines of figures and the potential for human error looming overhead, manual bank reconciliation can quickly become a massive headache. There sure is: Automated bank reconciliation. Automating your reconciliations both limits the possibility of errors and significantly cuts the time and effort needed.

Reconciliation 52

Reconciliation Automation Process Best Practices 52

Nanonets

MAY 21, 2024

Seven Best Practices for Effective Account Reconciliations From Mesopotamia's rudimentary ledgers tracking livestock and crops to the second-century BCE Indian treatise " Arthashastra ", accounting has been a cornerstone of economic management in any civilized society.

Best Practices 52

Best Practices Reconciliation Accounts Payment APIs and Integration 52

Nanonets

APRIL 3, 2024

Guide to the Vendor Account Reconciliation Process Running a business involves collaboration with various vendors who provide different kinds of products and services. Vendor reconciliation , a crucial part of this process, involves scrutinizing purchase-related documents to ensure accuracy in all vendor transactions.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

Nanonets

MAY 6, 2024

General Ledger Reconciliation The General Ledger (GL) is a silent custodian of a company's financial narrative.     General Ledger Reconciliation is the process of comparing and aligning the entries in the general ledger with the corresponding transactions documented in these external sources.  

Reconciliation 52

Reconciliation Payroll Automation Transactions 52

Nanonets

MAY 7, 2024

Expense reconciliation is the process through which businesses track expenditures, identify anomalies, adhere to regulatory requirements, and maintain financial accuracy and integrity. What is Expense Reconciliation? Compliance and Regulation : Expense reconciliation is crucial for compliance with financial regulations and standards.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

JUNE 17, 2023

Account reconciliation is a critical process in accounting, which ensures that financial records are accurate and consistent. This article will provide an in-depth understanding of account reconciliation, its benefits, and how businesses can leverage technology to automate the process. What is Account Reconciliation?

Reconciliation 52

Reconciliation Accounts Adjustments Credit Cards 52

Nanonets

FEBRUARY 21, 2024

Introduction Cash reconciliation remains a critical process in today’s retail environment, despite the shift from traditional cash registers to advanced point-of-sale (POS) systems. What is Cash Reconciliation?

Reconciliation 52

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

Nanonets

MAY 8, 2024

Introduction to Stripe Reconciliation Every digital purchase is a complex interplay of entities—Customers, Merchants, Acquirers, and Issuing Banks—that orchestrate the flow of funds.   What is Stripe Reconciliation?     How are transactions processed through Stripe?  Stripe

Reconciliation 52

Reconciliation Settlement Alternative Payment Methods Automation 52

Nanonets

APRIL 12, 2024

The Importance of Accounts Reconciliation Companies handle a variety of finance-related documents, ranging from bank statements to invoices and payroll records. Amidst this deluge of numbers and figures lies a crucial task: account reconciliation.

Reconciliation 52

Reconciliation Accounts Automation Compliance 52

Nanonets

JANUARY 29, 2024

  In this article, we guide you through the credit card reconciliation process in QuickBooks, addressing common issues and providing useful tips to streamline the procedure. Step 1: Go to the reconciliation menu In the top help menu bar, search for 'Reconcile.' Please include the date, amount, and expense account.

Reconciliation 52

Reconciliation Credit Cards Duplicate Automation 52

Nanonets

FEBRUARY 6, 2024

Intercompany reconciliation is specific to companies with multiple subsidiaries under the same parent group. This article provides the most comprehensive guide to intercompany reconciliation and how automation can help you save time & cost! Reconciliation helps remove duplicate entries and rectify errors.

Reconciliation 52

Reconciliation Adjustments Automation Transactions 52

Fintech Review

JUNE 18, 2024

However, what is often overlooked or regarded with disdain is the amount of compliance and account reconciliations needed in back-office operations. Advanced software and innovative tools make back-office tasks like compliance checks and account reconciliations more efficient and accurate. Avoid costly errors and regularly lapses.

Reconciliation 98

Reconciliation Compliance Regulatory Compliance Best Practices 98

Nanonets

FEBRUARY 28, 2024

What is Data Reconciliation? Data reconciliation is an essential process that involves comparing multiple sets of data to identify and rectify discrepancies, ensuring data accuracy and consistency across various business operations. Why is Data Reconciliation important?

Reconciliation 52

Reconciliation Process Audit Compliance 52

Nanonets

JULY 21, 2023

Ensuring the accuracy and integrity of the general ledger requires regular reconciliation. In this article, we will delve into the concept of general ledger reconciliation, its importance to businesses, and how to achieve it efficiently with the help of automation, particularly tools like Nanonets.

Reconciliation 52

Reconciliation Automation Audit Accounts 52

Clearly Payments

NOVEMBER 10, 2023

Reconciliation is the process of matching financial records to ensure they align correctly. Credit card statements, with their detailed transaction records, simplify the reconciliation process. Conduct Regular Reconciliation Prioritize regular reconciliation of credit card statements, ideally on a daily or weekly basis.

Reconciliation 52

Reconciliation Credit Cards Processors SWIFT 52

Nanonets

JULY 21, 2023

To ensure the integrity of financial data, accountants and bookkeepers rely on the general ledger account reconciliation process. This process involves comparing general ledger accounts with supporting documents using reconciliation software to identify discrepancies and take corrective measures. What is reconciliation software?

Reconciliation 52

Reconciliation Payment APIs and Integration Automation Online and Mobile Banking 52

Fintech Finance

MAY 1, 2025

We see the metadata, the reconciliation logic, the exceptions, and the outcomes. How many reconciliation items have been open for over 30 days? “We see the full payment lifecycle. No one else has a contextualized dataset of trillions of datapoints on enterprise payments or the expertise in navigating them.

Treasury 59

Treasury AI Duplicate Payments 59

FloQast

FEBRUARY 14, 2024

Brands’ accounting procedures. “No more lengthy email chains or manual reconciliations. . “No more lengthy email chains or manual reconciliations. ” Moreover, FloQast’s automated reconciliation feature significantly simplified a.k.a Brands’ accounting operations. .”

Compliance 105

Compliance Reconciliation Close Processes Automation 105

EBizCharge

MAY 22, 2025

Automated tools can help address this issue by sending prompt statements to streamline invoicing procedures and enhance transaction management. This consistency aids in easier tracking and reconciliation. FAQs regarding invoicing and billing FAQs regarding invoicing and billing What is invoice reconciliation?

Process 52

Process Best Practices Reconciliation Automation 52

EBizCharge

MARCH 3, 2025

In addition to automation, reporting and reconciliation are important features in Acumatica credit card processing. Reporting and reconciliation in Acumatica Understanding reporting and reconciliation in Acumatica is crucial since it helps businesses maintain financial record accuracy and reliability.

Credit Cards 52

Credit Cards Process Payment Gateways Payment APIs and Integration 52

FloQast

SEPTEMBER 16, 2024

Results Achieved: Improved compliance with real-time management of control procedures. It allowed the continued use of Excel for reconciliations and secure data storage on OneDrive, aligning perfectly with their operational needs. User-friendly interface and simplicity in operations. Quick implementation with minimal IT involvement.

Compliance 81

Compliance Procedures Reconciliation Professional Development 81

PYMNTS

APRIL 4, 2019

It might have a settlement file from one processor come in for its month-to-month reconciliation procedures and then have to go through the process with all of its providers to ensure the numbers match up. Modo aims to provide a solution, turning the complex work of reconciliation into an automated process.

Processors 70

Processors FinTech Reconciliation Payments 70

PYMNTS

OCTOBER 8, 2020

Flexible payment options may also encourage users to embrace additional procedures and services and add it to the rolling tally, paid down over time, in a way that engenders loyalty. When you're admitted to the hospital for a procedure, you have an estimate of what that's going to cost,” he said.

Payments 119

Payments Procedures Volume Reconciliation 119

Fintech Finance

NOVEMBER 18, 2024

Specifically review procedures for fund identification, recording, reconciliation, and evaluate existing safeguarding methods and third-party arrangements.

Consulting 97

Consulting Payments Regulations Procedures 97

The Fintech Times

SEPTEMBER 13, 2024

” Automating back-office functions Automation could go a long way in helping fintechs ensure compliance, explains Tiago Veiga , CEO at Aurum Solutions , a reconciliation software specialist. In fact, more than nine in 10 asset managers acknowledge a significant reliance on manual processes for reconciliation procedures.

Compliance 72

Compliance FinTech Reconciliation Audit 72

PYMNTS

FEBRUARY 1, 2021

Reconciliation Challenges. Slow reconciliation processes can result in extra costs and headaches, for example, by tying up staff schedules with tasks that could be managed by automation instead, Hagan said. Many firms still have AR systems that require employees to juggle different software platforms and conduct procedures manually.

Payment APIs and Integration 93

Payment APIs and Integration RTP Reconciliation Real Time Payments 93

Fintech Finance

JULY 10, 2024

These include increased security, robust controls, and real-time remittance data for more efficient reconciliation. From paying for and scheduling a procedure to reserving corresponding travel, transportation and lodging, patients will be able to confidently manage every aspect of their journey within the same platform.

Cross-Border 97

Cross-Border Visa Wire Transfer Accreditation 97

Neopay

MARCH 14, 2024

Internal and External Reconciliations Firms need to perform internal and external reconciliations to verify that the amount of funds or assets safeguarded matches their internal records. Your justification for the frequency of reconciliations, along with other factors, should be included within your risk assessments.

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

The Payments Association

OCTOBER 23, 2024

In addition to updating policies and procedures, many firms may need to make significant operational changes, including to their funds flows. Enhanced reconciliation, audit, and reporting requirements will create additional administrative burdens and could increase the risk of supervisory and enforcement action.

Rules 88

Rules Payments Institute Authorization Reconciliation 88

PYMNTS

OCTOBER 14, 2020

Reconciliation also comes with the offering. In June, MineralTree introduced “end-to-end” multi-currency functions to assist middle-market companies in digitizing each of their AP procedures on a single platform. In September, MineralTree Inc. announced a $50 million Series D investment round and the acquisition of two firms.

B2B 82

B2B Multi-Currency Wires Wire 82

Stax

MARCH 18, 2025

A typical payment processing procedure involves multiple parties, including the merchant, customer, payment processor, payment gateway, issuing bank, acquiring bank, and card networks. They require manual entry or separate reconciliation. This means they authorize and complete transactions faster than manual processing procedures.

Process 88

Process Payment APIs and Integration Processors Online and Mobile Banking 88

The Finance Weekly

APRIL 5, 2022

However, one department seems to lag behind when it comes to communication procedures: the finance department. FP&A departments are spending too much time performing manual tasks, such as preparing budgets and account reconciliations, and not enough time analyzing the data.

Automation 130

Automation Finance Financial Analysis Procedures 130

The Payments Association

MAY 16, 2025

Applicable to large organisations, the offence imposes criminal liability if firms do not have adequate fraud prevention procedures in place, even if senior leadership is unaware of the misconduct. This standard introduces structured, enriched data formats for payment messagesimproving interoperability, fraud detection, and reconciliation.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

The Finance Weekly

OCTOBER 13, 2021

Determine who is the owner of each business procedure. Organizations may , eliminate many of the manual processes that stymie a company's ability to accomplish a speedy financial closure by employing AI and machine learning to automate financial close processes including account reconciliation and reporting.

Risk Management 130

Risk Management Risk Automation Close Processes 130

Neopay

AUGUST 5, 2024

Effective safeguarding training covers the policies, procedures, and regulations that must be adhered to in order to minimise risks and maintain compliance with regulatory standards. Safeguarding procedures and training should be regularly reviewed and updated to reflect current risks and regulatory changes.

Compliance 52

Compliance Procedures Audit Risk Management 52