Remove Deposits Remove Financial Accounting Remove Reconciling
article thumbnail

As Check Fraud Surges, E-Payments Provide a Solution

AvidXchange

Other fraudsters scan or copy a stolen check to print multiple fake checks payable from your account. Some brazen offenders will cash or deposit a stolen check themselves but most hire “ walkers ” to do the job for them. They’re paid a fee to cash the check or deposit it in the criminal’s account on their behalf.

article thumbnail

The best reconciliation software and tools in 2023

Nanonets

Acting as a centralized platform, it retrieves data from the general ledger and compares it with bank statements and invoices, facilitating accurate and swift account reconciliation. Once approved, the reconciled data is securely stored in a centralized database, ensuring an auditable trail.

article thumbnail

Bank Statement Analysis: A Complete Guide

Nanonets

  It's like putting your financial transactions under a microscope better to understand your business's financial health and activities. Key aspects of bank statement analysis Transaction categorization: Classify entries as deposits, withdrawals, transfers, payments, etc.