Nanonets

APRIL 3, 2024

Traditional bookkeepers are professionals responsible for recording financial transactions, maintaining ledgers, and preparing financial statements manually or using basic accounting software. These professionals play a crucial role in ensuring the accuracy and integrity of a company's financial records.

Automation 96

Automation Payment APIs and Integration Reconciliation Financial Analysis 96

Nanonets

SEPTEMBER 23, 2023

Encumbrance accounting  is a crucial financial tool that allows companies to track future payments and expenses, providing a detailed view of cash flow. It is a method that helps businesses reserve funds for future liabilities, ensuring accurate financial reporting, budgeting, and analysis.

Accounts 52

Accounts Government Governance Compliance 52

EBizCharge

MARCH 12, 2024

Accounts receivable turnover ratio is a measure that determines the efficiency of a business’s payment collections process. What is the accounts receivable turnover ratio? The accounts receivable turnover ratio is a financial metric that measures how efficiently a company collects payment on credit sales.

Accounts 52

Accounts Automation Returns Gateways 52

Nanonets

JUNE 15, 2023

Accounting automation has become a game-changer in the financial world. It transforms how businesses handle their financial processes. Accounting automation can help streamline operations, reduce errors, and save time and resources. In a survey, 58% of accountants said automated accounting led to increased efficiency.

Automation 52

Automation Accounts Payroll Process 52

Nanonets

JULY 25, 2023

What is financial data analysis? Gartner defines financial analysis as the process that provides “insight into the financial performance of an organization.” How is financial data analysis used in business?

Financial Analysis 52

Financial Analysis Payment APIs and Integration Assessments Automation 52

Nanonets

APRIL 10, 2023

Managing financial records is a crucial aspect of the job of an accountant or bookkeeper. As a finance professional, you want to use invoice data to process payments, match invoices with purchase orders or create financial reports. Automatically update financial records in the balance sheet, general ledger, PnL, and more.

Automation 52

Automation Payment Reconciliation Financial Analysis Reconciliation 52

Nanonets

JULY 18, 2023

The traditional approach to accounts payable can be time-consuming, error-prone, and resource-intensive, hindering the organization's ability to focus on strategic initiatives. Financial Automation: Within the financial management module, NetSuite offers automation for tasks like accounts payable and accounts receivable.

Automation 52

Automation Reconciliation Audit Correspondent 52

PYMNTS

DECEMBER 17, 2018

New analysis from corporate payments firm Bill.com suggests ACH payments are dominating the accounts payable department. “Payments are rapidly evolving for accounting firms, as digital payments are now more often used than paper checks,” said Bill.com Senior Vice President of Engineering Vinay Pai in a statement.

ACH 63

ACH B2B Payments Cryptocurrency 63

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. Reconciliation helps remove duplicate entries and rectify errors.

Reconciliation 52

Reconciliation Adjustments Automation Transactions 52

Nanonets

APRIL 24, 2023

PDF → Excel Convert PDF bank statements to Excel  Try for Free A bank extract is data extracted from bank statements or other financial documents. These are official documents issued by a bank that provide detailed information on a customer's account transactions and balances.

Automation 52

Automation Assessments Fraud Detection Risk Assessment 52

Nanonets

SEPTEMBER 21, 2023

By utilizing technologies like  artificial intelligence  and  machine learning ,  finance automation  eliminates manual tasks, allowing finance teams to focus on more critical functions such as financial planning and analysis. The benefits of  finance automation  are vast and impactful.

Automation 52

Automation Finance Assessments Compliance 52

The Finance Weekly

JANUARY 22, 2024

CFOs need strong finance and accounting skills, along with years of experience, to find ways to enhance the organization's financial well-being. The CFO may work with the finance and accounting team to predict the effects of different operational decisions. Resolve accounting and finance problems.

Finance 52

Finance Risk Management Advisors Treasury 52

Nanonets

FEBRUARY 28, 2024

We will start with the basics: What exactly is a General Ledger, and why is it paramount to your business's financial health? We'll unravel the Chart of Accounts, the backbone of the GL, detailing how transactions are organized and recorded. These can be loans, accounts payable, or mortgages.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52

Nanonets

SEPTEMBER 23, 2024

Bank reconciliation Compare bank statement data with internal records to ensure every transaction is accounted for properly. Detect errors or fraud by catching discrepancies between the bank’s records and your financial documentation. If you don’t have an account yet, sign up for free and then log in.

Payment APIs and Integration 52

Payment APIs and Integration AI Audit Non-Bank 52

Nanonets

JULY 26, 2023

Extracting relevant and accurate financial data from financial and business documents is critical for effective decision-making, financial analysis, and integrity, as well as regulatory compliance. In the next section, we will explore the challenges associated with financial data extraction.

Automation 52

Automation AI Financial Analysis Volume 52

Nanonets

NOVEMBER 19, 2023

It's a process that ensures every payment, adjustment, or write-off tied to an invoice is accounted for and settled. It paves the way for flawless financial records, better cash flow, and smooth business operations. Accurate financial records: Consistent invoice settlement allows for accurate documentation of all transactions.

Settlement 52

Settlement Disputes Payment APIs and Integration Accounts 52

EBizCharge

JUNE 6, 2024

The setup process typically involves several stages, including inputting merchant account details, configuring transaction settings, and mapping the payment processing workflow according to your business’s operations. Utilizing automation features for payment reconciliation can save time and reduce manual errors.

Credit Cards 52

Credit Cards Process Payment Gateways Gateways 52

PYMNTS

NOVEMBER 10, 2020

Corporates, too, need access to transaction data for reconciliation, confirmation of payment and their own financial analysis, opening up the door for financial service providers to develop value-added services around those workflows.

Real Time Payments 117

Real Time Payments B2B Value Added Service ISO 20022 117

Nanonets

FEBRUARY 14, 2024

General Ledger Codes, or GL Codes, are unique alphanumeric strings that classify and record financial transactions within a company’s general ledger. For instance, a GL code for office supplies expense helps ensure that all expenditures related to office supplies are grouped together, facilitating easier tracking and analysis.

Transactions 52

Transactions Audit Accounts Automation 52

The Finance Weekly

APRIL 5, 2022

The impact of data driven financial analysis goes well beyond its traditional role of budgeting and forecasting, and has the potential to contribute greatly as a forward thinking department for real-time decision making. For finance teams this is more true than ever, and the recent market volatility has exasperated this issue.

Automation 52

Automation Finance Financial Analysis Reconciliation 52

Nanonets

SEPTEMBER 21, 2023

Unlike purchase orders and receipts, invoices specifically request payment and serve multiple purposes, including record-keeping, accounting, tax documentation, and legal protection. In addition to aiding in financial transactions, invoices are an integral part of  accounting internal controls  and  audits.

Audit 40

Audit Legal Accounts Transactions 40

Nanonets

MARCH 4, 2024

Integration with Financial Systems : AI can seamlessly integrate expense management systems with other financial software, such as accounting systems or ERP solutions. This integration facilitates real-time financial analysis and helps maintain accurate financial records. Deploy your own Chatbot.

AI 52

AI Payment APIs and Integration Fraud Detection Automation 52

Fintech Finance

MAY 21, 2024

American Express , a leader in global business payments, and Emburse , a leading provider of travel and expense software, are partnering to offer end-to-end virtual card issuance, card reconciliation, and expense management in Emburse Spend, an all-in-one expense management solution, to American Express customers.

Reconciliation 52

Reconciliation Enrollments Commercial Card Transaction Limits 52

Nanonets

MARCH 4, 2024

Business expense categories are a systematic classification of costs incurred during the operation of a business, designed to organize and track financial outflows for purposes such as tax preparation, budgeting, and financial analysis. Professional Fees : Fees for legal, accounting, and other professional services.

IRS 52

IRS Online and Mobile Banking Credit Cards Automation 52

Nanonets

FEBRUARY 8, 2024

Launched in 1992, QuickBooks has been offering businesses a centralized solution for their accounting needs for decades. The platform has grown and changed over the years, adapting to new customer needs and providing businesses with the support they need to stay financially healthy. What can you do with DocuSign and QuickBooks?

Payment APIs and Integration 52

Payment APIs and Integration Payroll Credit Cards Online and Mobile Banking 52

Nanonets

MAY 8, 2023

If your business is larger than just one person (sole proprietor), your bookkeeping should be in a standard format that is understandable to everyone involved: the owner, the bookkeeper or accountant, and any outside professionals such as loan officers or tax officials. Bookkeeping is the hands-on part of the financial care of the business.

Automation 52

Automation Accounts Reconciliation Audit 52

Nanonets

APRIL 5, 2024

Tipalti's platform is designed to streamline the entire AP process , from invoice capture and approval to payment execution and reconciliation. Easy customization Streamline your financial close process with Nanonets' built-in reconciliation and verification tools. What is Airbase?

Automation 52

Automation Multi-Currency Compliance Process 52

Nanonets

FEBRUARY 13, 2024

So, the question now is, how do you go about categorizing expenses in a manner that not only keeps your financial records organized but also optimizes your tax deductions? In the following sections, we'll delve into some common business expense categories that you should be tracking in your accounting software.

IRS 52

IRS Automation Adjustments Audit 52

Stax

JANUARY 23, 2024

Most small business owners hunting for cloud accounting software will find themselves trying to choose between the two most popular names: Xero and QuickBooks Online. These two giants in the small business accounting software space are equally adored in the business community. Generally good, average rating 4 stars.

Accounts 88

Accounts Payment APIs and Integration Online and Mobile Banking Payroll 88