Nanonets

MARCH 30, 2023

Intelligent Document Processing (IDP) refers to the automation of data extraction from unstructured documents. It eliminates the need for manual data entry, reduces errors, and increases efficiency in document management. What is intelligent document processing? million in 2021 and is expected to reach USD 6,382.52

Process 52

Process Automation Compliance Volume 52

Nanonets

JUNE 23, 2023

Balance sheet reconciliation is a critical process in finance and accounting that ensures the accuracy and integrity of financial statements. It involves comparing and reconciling the balances of various accounts in the balance sheet with supporting documentation. Document the steps taken, findings, and any adjustments made.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

Nanonets

APRIL 3, 2024

From tracking expenses and invoicing clients to preparing tax documents, virtual bookkeepers provide peace of mind and ensure financial compliance for self-employed professionals. Data Entry and Recording Transactions The virtual bookkeeper begins by entering financial transactions into the accounting software.

Automation 96

Automation Payment APIs and Integration Reconciliation Financial Analysis 96

Nanonets

APRIL 15, 2024

A Bank Reconciliation Statement is a financial document that ensures that the cash balances recorded in the internal financial records align with the financial records presented in the bank statement. This is critical for maintaining the integrity of financial data and facilitating informed decision-making.

Reconciliation 52

Reconciliation Adjustments Checks Correspondent 52

Nanonets

APRIL 29, 2024

These transactions are typically recorded separately by each entity and need to be reconciled to ensure consistency in financial reporting. Matching of Transactions : Once intercompany transactions are identified, the next step is to match corresponding transactions recorded by each entity.

Reconciliation 52

Reconciliation Audit Automation Transactions 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

FEBRUARY 28, 2024

At its core, a general ledger is a complete record of all financial transactions that occur within a company over its lifetime. This meticulous document serves as the foundation for a company's financial statements, categorizing and recording each transaction. Each GL account is associated with corresponding GL code.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52