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.,
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.
FloQast
MARCH 22, 2024
Outdated manual month-end close processes are a pain point for companies of every size – taking up as much as 40% of finance departments’ monthly working time and attention – an effort that could be better spent adding value to the business in other ways.
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.
Nanonets
JUNE 27, 2024
Reconciliation is a crucial accounting process that ensures the accuracy of the financial close process. Bank reconciliation is done to spot differences between the two records, verify the transaction amounts, and make the necessary adjustments. We need to make the proper adjustments here as well.
Nanonets
JUNE 14, 2024
These involve check-marking, the ability to adjust balances, and documenting any findings during the balance sheet reconciliation process. This may involve adjusting the general ledger, journal entries, or other accounting records Document Findings: Document your findings and any changes made to the general ledger or journal entries.
PYMNTS
APRIL 21, 2020
Combine antiquated equipment, paper documents and closed processing centers: these have combined to create crippling challenges for the IRS this tax season, and the agency has had to fill storage units with unopened refund requests in order to focus on sending stimulus payments under the CARES Act.
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