Nanonets

JULY 24, 2023

Step 5: Find errors Although rare, errors can occur on the bank's side, such as duplicate records, incorrect transaction entries, or miscalculated commissions. The goal is to reconcile and synchronize the cash transactions between your internal ledger and the bank statement.

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

Nanonets

JUNE 27, 2024

Reconciliation is a crucial accounting process that ensures the accuracy of the financial close process. The purpose of bank reconciliation is to: Identify accounting errors such as duplicate payments, lost checks, and other human-made mistakes during data entry. Why is it Important to Reconcile your Bank Account?

Reconciliation 40

Reconciliation Accounts Adjustments Checks 40

FloQast

JUNE 12, 2024

Curis , a biopharmaceutical innovator based in Lexington, Massachusetts, faced challenges with their traditional, paper-heavy month-end Close process and compliance program. “I never want to manage a month-end Close again without FloQast,” Jake stated emphatically. This is where FloQast stepped in.

Compliance 93

Compliance Close Processes Audit Automation 93

Nanonets

MAY 6, 2024

This results in scattered files, versioning issues, the need to track down stakeholders for missing information, the generation of duplicate datasets, and more. Trintech Cadency - Advanced automation capabilities for reconciliation, journal entry, and close processes. 

Reconciliation 52

Reconciliation Accounts Audit Automation 52

Nanonets

MAY 10, 2023

That's why finance teams are increasingly adopting a 3 way match of vendor invoices as an essential step of their accounts payable process. By 3 way matching supporting documents, companies can detect duplicate, erroneous, or fraudulent payments to vendors. This is vital for managing spend and cash outflow.

Accounts 52

Accounts Automation Duplicate Process 52

Nanonets

JUNE 24, 2024

Credit card reconciliation is essential as it helps businesses prevent fraud, maintain financial integrity, optimize spending, and keep the company's books audit-friendly during the financial close process , typically occurring at the end of each month. How to do Credit Card Reconciliation?

Reconciliation 52

Reconciliation Credit Cards Correspondent Automation 52

FloQast

JANUARY 22, 2024

For bank reconciliations, the accounting software will automatically match the corresponding entries (between the bank and the cash ledger), remove duplicate transactions, and identify outstanding transactions. We’re talking about faster processes and workflows instead of lengthy and tiresome manual processes.

Automation 52

Automation Reconciliation Audit Accounts 52