Clearly Payments

JUNE 21, 2024

Duplicate Charges: The cardholder’s account was charged multiple times for the same transaction. Gathering Evidence: Documentation: Collect all transaction records, receipts, delivery confirmations, and any correspondence with the customer. Descriptor Clarity: Ensure your merchant descriptor is easily recognizable by customers.

Disputes 52

Disputes Address Verification System (AVS) Credit Cards Best Practices 52

Clearly Payments

JUNE 12, 2024

Furthermore, billing errors and duplicate charges account for a smaller percentage of chargebacks, roughly 5-10%, where customers dispute charges due to incorrect billing amounts or being charged multiple times for a single transaction. This evidence, along with a detailed rebuttal letter, must be submitted to the acquirer.

Disputes 52

Disputes Card Issuer Acquirers Transactions 52

Nanonets

JULY 24, 2023

Step 2: Compare The next step in the account reconciliation process is to compare all transactions recorded in your internal ledger with the corresponding entries in your bank statement or other financial documents. This helps safeguard the company's assets and mitigate financial risks.

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

Nanonets

APRIL 15, 2024

Detects errors, omissions, and irregularities : By comparing each transaction in the bank statement with the corresponding entry in the company's records, bank reconciliation can catch discrepancies, errors, and omissions that may have occurred during the recording or transmission of financial data.

Reconciliation 52

Reconciliation Adjustments Checks Correspondent 52

Nanonets

SEPTEMBER 22, 2023

This report provides a detailed overview of the current financial position by listing all accounts payable transactions and their corresponding balances. AP Trial Balance Reports Lists all accounts payable transactions and their corresponding balances, ensuring accuracy and accountability.

Accounts 40

Accounts Master Account Best Practices Reconciliation 40

Nanonets

MAY 6, 2024

    General Ledger Reconciliation is the process of comparing and aligning the entries in the general ledger with the corresponding transactions documented in these external sources.   These documents provide supplementary details and serve as external sources of validation for the transactions recorded in the general ledger. 

Reconciliation 52

Reconciliation Payroll Automation Transactions 52

Nanonets

APRIL 3, 2024

By outsourcing specialized tasks to virtual professionals, businesses can mitigate risks and maintain transparency in their financial operations. The virtual bookkeeper reconciles transactions recorded in the accounting software with corresponding bank statements to verify that all transactions are accounted for and correctly classified.

Automation 74

Automation Payment APIs and Integration Reconciliation Financial Analysis 74

Nanonets

JUNE 27, 2023

This involves extracting relevant information such as invoice number, vendor details, invoice date, line item details, and corresponding amounts. Reconciliation : Once the invoice is approved, it needs to be reconciled with the corresponding financial records and account balances.

Process 52

Process Automation Electronic Funds Transfer (EFT) Volume 52

Nanonets

NOVEMBER 14, 2023

  Today, the world uses 420 billion kilograms of paper every day , which corresponds to two pieces of paper for everyone on Earth every single hour. Reduced Errors: Manual data entry is error-prone, leading to inaccuracies in reports due to incomplete data, missing/correct material, and duplicates.

Automation 52

Automation Facilitators Audit Compliance 52

Nanonets

APRIL 29, 2024

Matching of Transactions : Once intercompany transactions are identified, the next step is to match corresponding transactions recorded by each entity. Tookitaki’s software is suitable for organisations seeking to enhance reconciliation accuracy, reduce manual effort, and mitigate risks associated with intercompany transactions.

Reconciliation 52

Reconciliation Audit Automation Transactions 52

Nanonets

MARCH 4, 2024

Duplicate Claims Employees submitting the same expense for reimbursement more than once. However, as the company grew, the CFO, Alex Morgan, noticed several issues: Duplicate Claims:  Employees occasionally submitted the same expense twice due to lack of proper tracking.

Process 52

Process Compliance Automation Audit 52

Nanonets

NOVEMBER 15, 2023

Additionally, the invoices must be matched with the corresponding purchase orders and goods receipts to avoid duplicate invoices, fraud, and errors. But with a paperless accounts payable system, seamless data flow and automated workflows ensure these challenges are effectively mitigated.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

Nanonets

SEPTEMBER 22, 2023

Each supplier has an invoice number, a payment due date, and the corresponding amount owed. Without proper monitoring, duplicate or fraudulent invoices may go unnoticed, leading to unauthorized payments and financial losses for the company. FAQ Q: What are trade payables?

Automation 40

Automation Accounts Risk Process 40

Nanonets

SEPTEMBER 21, 2023

Invoices serve as vital evidence of the goods or services received and the corresponding payment obligations. Furthermore, invoices help businesses avoid duplicate payments or pay inaccurate amounts. They can identify trends in payment patterns, allowing them to implement strategies to mitigate late payments and improve cash flow.

Audit 40

Audit Legal Accounts Transactions 40

PYMNTS

APRIL 24, 2018

It’s about the series of events leading up to that as well as a long tail of consequences and mitigations following the incident. If customers are duplicating passwords across merchants, that’s a problem. If they’re using the same password for their bank account, said Shem-Tov, it takes the breach to a whole new level.

Breach 50

Breach Bots Credential Data Breach 50

FICO

MAY 22, 2017

The broad strokes: This order endorses, mandates, and accelerates the adoption of existing frameworks as well as ongoing risk assessment and mitigation, but it does not set the game clock back by forcing the creation of new frameworks or imposing stifling centralization. The order is relatively short, with three operational sections.

Cybersecurity 45

Cybersecurity Risk Assessment Assessments Risk 45