AvidXchange

MAY 7, 2022

With more than 20 years of accounts payable (AP) experience in various roles, I’ve witnessed firsthand the transition from paper-based processes to completely automated AP and payment processes. Here are four ways I’ve seen AP automation change the game and bring benefits to accounting teams during year-end close.

AP 52

AP Accounting Accounting Accounts Payable 52

Nanonets

JANUARY 8, 2024

However, let's understand the manual bank reconciliation process once: Step 1: Gather documents On the bank side, you need the bank statements, outstanding checks, deposits, and any pending transactions. If they are not equal, there is an error in the reconciliation process. Match the deposits in the two statements.

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Accounting 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.

General Ledger 52

General Ledger Account Reconciliation Reconciling Financial Reporting 52

Gaviti

OCTOBER 30, 2023

By 2025, Gartner predicts that more than 80% of new job opportunities in finance will be in roles other than traditional accounting and financial planning and analysis (FP&A). Automating manual tasks such as A/R invoice collections and account reconciliation eliminates these tasks that are prone to human error.

Collections 76

Collections Invoicing Bank Reconciliation Accounts Receivable 76

Gaviti

JANUARY 7, 2024

They need a solution that focuses on just the accounts receivable process in order to optimize their cash flow and make sure cash doesn’t fall through the cracks. It also connects different data across different departments within your company, from accounting to sales, logistics and inventory and human resources.

Collections 52

Collections Account Reconciliation Invoicing Bank Reconciliation 52

Nanonets

JUNE 5, 2023

While Robotic Process Automation (RPA) comes with a plethora of benefits, it also poses some challenges that organizations must take into account before implementing it. Book a 30-min live demo to see how Nanonets can help your team implement end-to-end process automation. Schedule a Demo Which Industries find RPA Transformational?

Data Entry 85

Data Entry Invoice Processing Invoicing Account Reconciliation 85

Spenmo

NOVEMBER 9, 2022

4: A platform that easily integrates with existing tools and workflows If your finance team members currently use accounting tools like Xero or Quickbooks, it's important for them to be able to seamlessly integrate with the chosen software without having any issues. Book a demo and choose Spenmo for your finance team today!

Account Reconciliation 52

Account Reconciliation XERO Customer Service QuickBooks 52

Spenmo

NOVEMBER 8, 2022

We also want to leave you with this concept: Assets (A) = Liabilities (L) + Equity (E) As you can see, this indicates that your total assets would have to equate to your total liabilities and equity in the accounting period for your balance sheet. These include your accounts payables , salaries, interests, and taxes.

Account Reconciliation 52

Account Reconciliation Financial Statements Accounts Payable Accounts Payable 52

Spenmo

NOVEMBER 1, 2022

The platform’s compatibility with accounting software allows you to manage the end-to-end expense process more efficiently— from expense report creation and submission to payout reconciliation and approvals. Take the first step to an efficient expense management system by booking a demo today!

Expense Reports 52

Expense Reports Account Reconciliation Budgeting Billing 52

Spenmo

JANUARY 31, 2024

According to a report by the Institute of Financial Operations & Leadership , 56% of accounts payable teams spend over 10 hours processing invoices weekly, and an alarming 82% still manually enter invoice data into their accounting systems.

Accounts Payable 52

Accounts Payable Accounts Payable Invoicing Account Reconciliation 52

Nanonets

JANUARY 8, 2024

However, let's understand the manual bank reconciliation process once: Step 1: Gather documents On the bank side, you need the bank statements, outstanding checks, deposits, and any pending transactions. If they are not equal, there is an error in the reconciliation process. Match the deposits in the two statements.

Bank Reconciliation 52

Bank Reconciliation Deposits Reconciling Financial Records 52

Nanonets

APRIL 14, 2024

With AI-driven accounting capabilities, HR modules, payroll features, and a wide range of integrations, Sage Intacct supports businesses' needs today while helping them prepare for the future. These tools range from accounts payable platforms to inventory management solutions and everything in between.

AR 52

AR Payroll Data Entry Accounts Payable 52

Nanonets

JANUARY 14, 2024

These discrepancies must be accounted for in a bank reconciliation statement to represent the current financial position accurately. In this blog, we will present some real-life examples of bank reconciliation statements and help solve the major problems faced during bank reconciliation.

Bank Reconciliation 52

Bank Reconciliation Deposits Account Reconciliation Financial Records 52

Nanonets

APRIL 29, 2024

  Why Do We Need Balance Sheet Reconciliation Software? Balance sheet reconciliation software, also known as accounts reconciliation software, is a specialized tool designed to streamline and automate the process of reconciling balance sheet accounts within an organization's financial system.

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Reconciling General Ledger Auditing Bank Reconciliation 52

Nanonets

DECEMBER 11, 2023

Your accounts payable team – whose main function is to ensure funds are disbursed properly to vendors, business partners, and sometimes customers – processes an exorbitant number of invoices every single week. When done manually, processing an invoice can take days.

Invoice Processing 52

Invoice Processing Invoicing AP Accounts Payable 52

Remote Quality Bookkeeping

JANUARY 22, 2024

For some businesses, these procedures can be as simple as separating business accounts from personal accounts to prevent the commingling of funds or ensuring that more than one person counts all cash deposits. Generally, external audits are conducted by Certified Public Accountants (CPAs).

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Auditing Financial Statements Petty cash Outsourced Bookkeeping 52

Nanonets

APRIL 26, 2024

Bank feeds and automated reconciliation, easy expense claim reimbursement, and online invoicing features are just the start; Xero is a premium accounting software solution for small businesses. With a two-way integration, customer information, invoice data, accounting rules, and bills are shared between the two systems automatically. 

XERO 52

XERO Payroll Invoicing AP 52

Spenmo

NOVEMBER 3, 2022

This end-to-end payables software brings seamless internal spend management, automated bill payments, custom approval flows, and accounting reconciliation into an integrated view. Book a demo today to learn how the platform can improve your company’s expense reimbursement policy compliance!

Expense Reports 52

Expense Reports Budgeting Account Reconciliation Deposits 52

Nanonets

JUNE 5, 2023

While Robotic Process Automation (RPA) comes with a plethora of benefits, it also poses some challenges that organizations must take into account before implementing it. Book a 30-min live demo to see how Nanonets can help your team implement end-to-end process automation. Schedule a Demo Which Industries find RPA Transformational?

Data Entry 52

Data Entry Invoice Processing Invoicing Account Reconciliation 52

Nanonets

MAY 7, 2023

Credit card reconciliation is the process of matching credit card statements with receipts and invoices to ensure that all charges on the credit card are accounted for. This process is important for businesses and individuals, ensuring that all expenses are properly accounted for and reported. Try it yourself.

Bank Reconciliation 52

Bank Reconciliation General Ledger Reconciling Accounts Receivable 52

MineralTree

NOVEMBER 10, 2022

Duplicate payments are a huge headache for accounts payable departments and their vendors. In fact, 58% of accounts payable teams were targeted via email scams in 2021. Increased visibility also simplifies account reconciliation. Request a demo to learn more. Improve Visibility in Your Process.

AP 52

AP Invoicing AR Accounts Payable 52

Billing Platform

AUGUST 3, 2023

which can increase your accounts receivable lifecycle, as well as impact the customer’s ability to make payments. Paper records, as well as sensitive information like credit/debit card numbers, account numbers, and social security numbers can easily be compromised.

Billing 52

Billing Collections Invoicing Account Reconciliation 52

Nanonets

FEBRUARY 6, 2024

Intercompany reconciliation is specific to companies with multiple subsidiaries under the same parent group. It's a crucial step in the intercompany accounting process and for preparing a consolidated statement for financial reporting. Automate reconciliation to improve accuracy and save time & cost.

General Ledger 52

General Ledger Financial Statements Reconciling Collections 52

Nanonets

FEBRUARY 8, 2024

Disparate payment systems, slow data processing, a lot of manual lift, and disjointed finance processes plagued accounting teams all over the world. Part of the account settings for any enterprise user revolve around tax form collection for payees. What is Tipalti? What is Bill.com (BILL)?

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AvidXchange

AUGUST 31, 2023

AvidXchange is transforming the Accounts Payable process one company at a time. On today’s episode we’re going to talk about digital skills. I’ve been in and around accounting departments for the last 25 years and I’m joined by someone who has way more experience than me – Rhonda Greene. Well, hello Rhonda. How are you?

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AP Accounts Payable Accounts Payable Invoicing 52