The Institute of Financial Operations

JULY 12, 2021

Although systems are designed for accurate and efficient payment of invoices, a percentage of leakage will always occur. Quite simply, it is a review of your Accounts Payable historical data for the purpose of identifying and recovering funds paid to your vendors and suppliers resulting from overpayments and under-deductions.

Accounts Payable 130

Accounts Payable Accounts Payable Auditing Accounting 130

Billing Platform

FEBRUARY 17, 2025

Accrued revenue is a cornerstone of accrual accounting, playing a vital role in accurately reflecting a company’s financial performance. We’ll also discuss best practices for recording it and why it’s critical for modern financial operations. What is Revenue Accrual? How Does Accrued Revenue Work?

Accruals 73

Accruals Accounts Receivable Accounts Receivable Account Receivables 73

MineralTree

OCTOBER 5, 2023

As part of the process, the AP team takes steps to ensure the past month’s financial records are accurate. For example, they may reconcile vendor statements with the AP ledger to ensure there are no discrepancies or missed invoices. This includes verifying that invoices match purchase orders and that any discrepancies are resolved.

AP 76

AP Reconciling Accruals Accounts Payable 76

AvidXchange

SEPTEMBER 30, 2015

Over the last decade, it has become apparent that AP automation can help improve the overall financial operations of a business. Applying automation to your AP and payment processes means removing paper invoices and checks which helps make the month-end closing process a painless experience.

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AP Accruals Accounts Payable Accounts Payable 52

MineralTree

OCTOBER 19, 2023

These solutions offer a wide range of features and capabilities aimed at simplifying invoice handling, approval workflows, payment processing, and vendor management. AP software solutions ultimately help improve operational efficiency, reduce manual errors, and manage cash flow while maintaining positive supplier relationships.

Accounts Payable 75

Accounts Payable Accounts Payable AP Data Entry 75

MineralTree

DECEMBER 29, 2022

In this blog, we explore the key issues and trends that CFOs must tackle, and offer practical advice on how to prepare for these challenges in order to capitalize on the opportunities of financial digital transformation. What is Financial Digital Transformation? 4 Ways CFOs Can Prepare for Financial Digital Transformation.

AP 52

AP Accruals Financial Operations Financial Operations 52

AvidXchange

JULY 14, 2022

hours each week going through check registers, comparing checks to invoices. A lot of our financial operations stemmed from the mid-eighties. James McHale, CFO, LAFCU In addition, McHale’s team lacked a process for monitoring their outstanding invoices. McHale was spending 1.5

Accounts Payable 52

Accounts Payable Accounts Payable AP Financial Services 52