Accounting Today

JANUARY 8, 2024

The Association of Certified Fraud Examiners has joined a collective effort of organizations including the Center for Audit Quality, Financial Executives International, the Institute of Internal Auditors and the National Association of Corporate Directors.

Collections 217

Collections Auditing 217

Accounting Today

MARCH 31, 2025

The board is mulling changes in its auditor independence standards for audits of collective investment schemes involving connected parties and pension funds.

Collections 130

Collections Auditing Accounting Accounting 130

Xero

AUGUST 29, 2023

Considerations for Collecting Receipts Almost all expenses start with or include a receipt for the purchase. Managing and Auditing Expense Approvals Expense approvals are often managed offline, through email, or possibly even through Slack or Teams.

Expense Reports 246

Expense Reports XERO Data Entry General Ledger 246

The Institute of Financial Operations

JULY 12, 2021

WHAT IS AN ACCOUNTS PAYABLE RECOVERY AUDIT? WHY SHOULD MY COMPANY CONDUCT AN ACCOUNTS PAYABLE RECOVERY AUDIT? WHAT DOES AN ACCOUNTS PAYABLE RECOVERY AUDIT ENTAIL, AND WHAT ARE THE COSTS? The review is a historical look at supplier spend, combined with a comprehensive audit process. WHAT IS THE DOWNSIDE?

Accounts Payable 130

Accounts Payable Accounts Payable Auditing Accounting 130

Compleatable

MARCH 6, 2025

Collection, digitization, verification, coding and approval of Invoices and Bills improves finance efficiency by up to 95%. Revenue Cycle Management : Streamline billing and collections processes to ensure timely payments from residents, insurance companies, and government programs.

Accounting 100

Accounting Accounting Revenue Cycle Management Revenue Cycle 100

Xero

SEPTEMBER 8, 2022

Transactions that take place on a public blockchain are time-stamped and transparent, which creates a clear audit trail for all to see. Accountants would be able to see transactions in real time and verify records via a trusted audit trail.” . Time delays caused by trust intermediaries and process inefficiencies (i.e.

XERO 264

XERO Computation Collections Tax 264

Xero

JUNE 6, 2022

As financial professionals, your skills in data collection, verification, assurance and audit can be applied to the carbon certification space. Here are some of the types of sustainability-related services we’ve seen: Sustainability audits: An all-round assessment of a client’s operations for opportunities for improvement.

Bookkeeping 246

Bookkeeping Accounting Accounting XERO 246

Accounting Tools

FEBRUARY 25, 2024

What is an Audit? In general, an audit is an investigation of an existing system, report, or entity. There are many types of audits that can be conducted, as noted below. This audit is most commonly used in regulated industries or educational institutions.

Auditing 75

Auditing Payroll Financial Statements Computation 75

Accounting Tools

JUNE 12, 2023

Related Courses How to Conduct a Compilation Engagement How to Conduct a Review Engagement How to Conduct an Audit Engagement What is a Financial Statement Audit? A financial statement audit is the examination of an entity's financial statements and accompanying disclosures by an independent auditor. Marketable securities.

Financial Statements 76

Financial Statements Auditing General Ledger Bank Reconciliation 76

LedgerDocs

APRIL 19, 2023

Being selected for an audit by the Canada Revenue Agency (CRA), might leave you feeling overwhelmed, stressed and uncertain about what you need to do. Although the prospect of being audited may be scary and intimidating, having the right documents and information ready can help make the process smoother.

Auditing 96

Auditing Expense Reports Financial Records Tax 96

Accounting Tools

APRIL 8, 2023

Related Courses Guide to Audit Sampling How to Conduct an Audit Engagement The Audit Risk Model What is the Audit Risk Model? The audit risk model determines the total amount of risk associated with an audit , and describes how this risk can be managed. The nature of the audit procedures conducted.

Auditing 74

Auditing Financial Statements AR Financial Reporting 74

MineralTree

NOVEMBER 2, 2023

That’s where accounts payable audits come into play. What Is an Accounts Payable Audit? An accounts payable audit is the process of validating invoices to ensure they are accurate and that the right controls are in place to guarantee an organization’s financial records are in order. Audits uncover and rectify these inaccuracies.

Accounts Payable 81

Accounts Payable Accounts Payable Auditing AP 81

Billing Platform

DECEMBER 9, 2024

4) Secure Payments The ability to accept recurring payments requires you to provide the security needed to collect sensitive information, as well as be in compliance with PCI-DSS and other regulations such as ASC 606 and IFRS 15. With a single solution you can automate and simplify revenue recognition for better accuracy and auditability.

Billing 95

Billing Collections Customer Service Auditing 95

Xero

APRIL 16, 2023

Available in New Zealand, CarbonTrail uses AI to automate carbon accounting based on your Xero transactions, saving time and money by reducing the cost of carbon auditing and showing monthly and annual reports of your biggest emitters. CarbonTrail. Zero Carbon.

XERO 279

XERO Collections Auditing Invoicing 279

oAppsNet

JANUARY 14, 2025

Key details collected on a W-9 form include: Name and business name (if applicable) Address Taxpayer Identification Number (TIN), which can be an Employer Identification Number (EIN) or Social Security Number (SSN) Certification that the information provided is accurate Who Needs to Complete a W-9 Form?

1099 Preparation 52

1099 Preparation Collections Tax Auditing 52

Xero

OCTOBER 1, 2023

Your privacy policies should also be kept up to date and cover what data you collect, how you use that data, and how long you intend to hold the data. Remember: if you don’t need the information, don’t collect it. For example, Xero is audited to be compliant with ISO 27001 and SOC2.

XERO 299

XERO Collections Invoicing Accounting 299

Intuit

AUGUST 30, 2024

Account management: They manage accounts payable and receivable, process invoices, reconcile accounts, and ensure timely payments and collections. Internal controls and auditing: They may implement internal controls to safeguard company assets and ensure the accuracy of financial records. Looking for an accounting or bookkeeping job?

Bookkeeping 246

Bookkeeping Financial Statements Accounting Accounting 246

Gaviti

MARCH 5, 2025

The complexity of such fraud often requires detailed audits and advanced analytical tools to detect discrepancies in reported revenue versus actual collections. Plus, it allows you to collect receivables without identifying your bank account information to your customers.

Accounts Receivable 80

Accounts Receivable Account Receivables Accounts Receivable Accounting 80

Xero

SEPTEMBER 1, 2022

It offers an easy-to-access audit trail of changes made within Xero by a small business owner, advisor or app partner. Use GoCardless Instant Bank Pay to collect one-off payments — UK. One of our most highly requested product updates is now live in Xero Payroll: payroll history.

XERO 264

XERO Payroll Data Entry Tax 264

Xero

FEBRUARY 20, 2023

Everything from sourcing materials to manufacture, logistics and sale, and all by recording data about each component in a permanent, auditable, visible manner. But it increasingly comes with risk and cost in terms of both validating and protecting the data we collect.

XERO 261

XERO Auditing Computation Payroll 261

Gaviti

SEPTEMBER 2, 2024

This is especially true when it comes to scaling collections. In the past, this was done by hiring more team members to manage ERP dunning emails or collections calls. But now, there is more data available that can be used to streamline and improve A/R collections management. What is A/R Collections Automation?

Collections 52

Collections Invoicing Invoice Processing Financial Records 52

Gaviti

SEPTEMBER 2, 2024

This is especially true when it comes to scaling collections. In the past, this was done by hiring more team members to manage ERP dunning emails or collections calls. But now, there is more data available that can be used to streamline and improve A/R collections management. What is A/R Collections Automation?

Collections 52

Collections Invoicing Invoice Processing Financial Records 52

Remote Quality Bookkeeping

JUNE 28, 2023

To combat these threats and safeguard their financial well-being, businesses are turning to a powerful tool known as forensic auditing. But what does the word “forensic audit” even mean? Forensic Audits vs. Financial Audits Financial audits are independent evaluations of a company’s financial statements.

Auditing 52

Auditing Financial Statements Financial Records Collections 52

Remote Quality Bookkeeping

JUNE 28, 2023

To combat these threats and safeguard their financial well-being, businesses are turning to a powerful tool known as forensic auditing. But what does the word “forensic audit” even mean? Forensic Audits vs. Financial Audits Financial audits are independent evaluations of a company’s financial statements.

Auditing 52

Auditing Financial Statements Financial Records Collections 52

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?

Bank Reconciliation 52

Bank Reconciliation Auditing Reconciling General Ledger 52

Gaviti

DECEMBER 28, 2023

Collections calls typically rely on a team of individuals, each responsible for his or her own accounts. Although the idea is for the collections teams to build a rapport with their customers, the approach is flawed. Other inefficiencies of collections calls include: They are resource-intensive.

Collections 52

Collections Invoicing Accounts Receivable Account Receivables 52

oAppsNet

JANUARY 17, 2025

This essential document, issued by the Internal Revenue Service (IRS), is used by businesses to collect taxpayer identification information from vendors, freelancers, and contractors. Compliance Risks : Incomplete or outdated W-9 forms can result in non-compliance, triggering fines and audits. What is W-9 Automation?

Vendor Management 40

Vendor Management Tax Collections Data Entry 40

Gaviti

FEBRUARY 17, 2024

For some customers, however, you’ll need another strategy altogether for collecting unpaid and overdue invoices: debt collection. The Key Components of Effective A/R Management The main aspect of A/R management is the collections of receivables. Deciding between debt collections and write-offs. Dispute resolution.

Collections 52

Collections Accounts Receivable Account Receivables Accounts Receivable 52

Nanonets

AUGUST 1, 2023

Internal audits play a crucial role in assessing a company's internal controls, corporate governance, and accounting processes. These audits are essential for ensuring compliance with laws and regulations, as well as maintaining accurate and timely financial reporting and data collection.

Auditing 52

Auditing Data Entry Collections Financial Statements 52

Counto

OCTOBER 16, 2024

Integrating Spend Analytics into Financial Audits for Singapore SMEs In today’s data-driven world, small and medium-sized enterprises (SMEs) in Singapore are increasingly recognising the importance of spend analytics in refining their financial audits. Key Benefits of Integrating Spend Analytics into Audits 1.

Auditing 52

Auditing Budgeting Purchase Order Collections 52

Jetpack Workflow

JANUARY 20, 2025

PandaDoc PandaDoc is an online proposal software that helps teams manage the entire sales cycle, from creating and sending the proposal to collecting e-signatures and accepting the first payment. Proposify Proposify is an online platform where teams can build, manage, send, and sign professional sales documents and proposals.

Accounting 52

Accounting Accounting Billing Invoicing 52

SMB Accounting and Consulting

AUGUST 4, 2023

Internal audits play a crucial role in the success and sustainability of a company. Conducting regular internal audits helps identify potential risks, improve operational efficiency, and ensure compliance with laws and regulations. Internal audits can be small random audits, or audits of the system as a whole.

Auditing 52

Auditing Financial Reporting Collections Accounting 52

Gaviti

JANUARY 20, 2025

Plus, if a receivable is unlikely to be collected, it should be reported as a bad debt expense in the same period as the related revenue and an A/R forcasting report can help with this. For example, when a company automates its invoicing and payment collection, the system can automatically match payments to corresponding invoices.

AR 52

AR Financial Statements Invoicing Collections 52

Accounting Tools

JUNE 5, 2024

What is an Expense Report Audit? When conducting such an audit , you should address the following general topics: Review policy compliance. If so, it could mean that an employee collected receipts from other shoppers exiting the store at the same time. Similar dates.

Expense Reports 40

Expense Reports Auditing Collections 40

Accounting Tools

APRIL 6, 2024

The aging report is the primary tool used by collections personnel to determine which invoices are overdue for payment. Given its use as a collection tool, the report may be configured to also contain contact information for each customer.

Accounts Receivable 75

Accounts Receivable Account Receivables Accounts Receivable Accounting 75

Counto

JANUARY 9, 2025

These returns provide the IRAS with details of the GST you have collected and paid, and they ensure that you remain compliant with Singapores tax laws. These records are necessary for your GST returns and will be required in case of an audit. If you owe GST , you must pay it by the due date to avoid penalties.

Collections 52

Collections Tax Corporation Tax Financial Statements 52

Jetpack Workflow

DECEMBER 4, 2024

That can help teams prioritize where they devote auditing resources, focusing on areas deemed more high-risk based on current data and historical patterns. In other words, the applications of AI in the auditing process are widespread and can produce meaningful benefits in accuracy and efficiency.

General Ledger 52

General Ledger Accounting Accounting Auditing 52