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Show Notes Sage Intacct delivers quadruple win for Finance teams — Enterprise Times — Sage Intacct announced new features at its annual conference, including Sage Intacct Budgeting and Planning, an Interactive Custom Report Writer, and GeneralLedger Allocations. Are you getting paid what you are worth?
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In fact, according to the PayStream 2018 Payables Insight Report, manual data entry is one of the top challenges for accounts payable systems—by 48% of surveyed respondents. Lost and scattered invoices make it nearly impossible to manage the generalledger and auditing function effectively.
The 2018 Payables Insight Report says the issue is with invoicing—long approval cycles (47 percent), missing information (42 percent), lost invoice files (35 percent), manual routing (29 percent), and decentralized invoice receipt (25 percent). Storing all printed payment data in file cabinets only hinders auditing and vendor inquiries.
And then right after that is that data analytics of proactive data monitoring program is actually the number two way with surprise audits actually. Mitch : (06:59) So can you walk us through a little bit of your, you know, normal investigative work. What are some of the costs of doing a program internally for an organization?
David, you questioned why- how auditors could possibly have missed this for a decade, because Ernst & Young has been auditing Wirecard for 10 years. Ernst & Young had been signing off flawless audit, unqualified opinion, year after year after year. Cash is easy to audit. They're faking their books."
This means that e-commerce sellers are dealing with massive amounts of transactions that need to appear in the generalledger correctly so that you can easily reconcile these transactions with a bank statement. Scott's Add-Ins will link generalledger data in Xero to Excel. It's funny, that's not actually a new stat.
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