Nanonets

JANUARY 31, 2024

Month-end close is a widely accepted accounting standard that is aimed at keeping an accurate set of financial records and detecting errors/fraud. Month-end reconciliation is the most important part of the month-end close process. Banking errors: Checks or ACH transfers are recorded on dates different from the processing date.

Best Practices 52

Best Practices Reconciliation Adjustments Correspondent 52

The Finance Weekly

OCTOBER 13, 2021

Here are the best practices for getting started, from consolidating multiple companies' financials onto a single ledger to deciding which company's enterprise resource planning (ERP) system to stick with (or, in some cases, an even more difficult task—deciding to start from scratch and implement an entirely new ERP system): 1.

Risk Management 130

Risk Management Risk Automation Close Processes 130

PYMNTS

JANUARY 26, 2018

Corporate accounting software is now a continually evolving space, but progress doesn’t occur in a vacuum: External forces and trends, from changing regulations to increased adoption of FinTech by the enterprise, force businesses to adjust how they record and report financial data. Open Banking initiatives in the EU, U.K.,

Close Processes 47

Close Processes Innovation FinTech Accounts 47

FloQast

NOVEMBER 11, 2024

In every accounting department I’ve been a part of, a crucial period rolls around at the end of each month: the month-end Close. The month-end close process is the culmination of a month’s worth of financial transactions, when all hands are on deck to ensure the company’s financial records are accurate and up-to-date.

Reconciliation 52

Reconciliation Close Processes Accounts Transactions 52

Nanonets

JUNE 23, 2023

At the end of each accounting cycle, the accounting or finance team of a company reviews its accounts and adjusts balances. This process is known as the financial close. Balance sheet reconciliation is a crucial step in the financial close process, serving as a vital control mechanism for organizations.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

Nanonets

MAY 6, 2024

Founded in 2001, BlackLine offers a comprehensive suite of solutions that empower organizations to automate traditionally manual and spreadsheet-intensive tasks, enhance accuracy, improve visibility, and optimize efficiency throughout the financial close process.  

Reconciliation 52

Reconciliation Accounts Audit Automation 52

Nanonets

JULY 24, 2023

Step 4: Confirm Once you have identified the transactions that need to be adjusted, it's crucial to record them appropriately. This involves reviewing the reconciled data and ensuring that the adjusted figures align with the overall financial picture, demonstrating consistency between the internal ledger and the bank statement.

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52