Clearly Payments

AUGUST 6, 2024

Processing Errors: Making up 15% of chargebacks, these involve errors such as incorrect amounts or duplicate charges. This generous timeframe allows merchants additional time to prepare a comprehensive response and gather necessary documentation. The key differences lie in the merchant response periods.

Disputes 83

Disputes Visa Issuers Duplicate 83

PYMNTS

MARCH 22, 2020

Facebook is under fire in a new set of documents in a lawsuit, which allege the company knew for years that paid advertising services on the site were exaggerating and distorting the number of people who would see the ads, according to a report by the Financial Times. ” The lawsuit was originally filed by a small business owner in 2018.

Duplicate 56

Duplicate Bots Scams Accounts 56

Nanonets

JANUARY 25, 2024

Let’s get started with the process: Gather documents You will need the company's general ledger and the latest credit card statement. Match documents We need to find out the matching transactions in the credit card statement and the general ledger. Download them in CSV format and paste them into individual Excel sheets.

Reconciliation 52

Reconciliation Credit Cards Automation Duplicate 52

Nanonets

MAY 10, 2023

By 3 way matching supporting documents, companies can detect duplicate, erroneous, or fraudulent payments to vendors. The goal here is to ensure that financial details (order quantity, order amount, total amount, PO number etc.)  match across all 3 documents. This is vital for managing spend and cash outflow.

Accounts 52

Accounts Automation Duplicate Process 52

Nanonets

JANUARY 25, 2024

Here’s how we can do bank reconciliation: Gather documents You will need the company cashbook and bank statements. Match documents We need to find out the matching transactions in the bank statement and the cashbook. The software will only pull relevant information from each document through OCR technology.

Reconciliation 52

Reconciliation Adjustments Checks Automation 52

Nanonets

OCTOBER 9, 2024

Here’s a breakdown of how it works: Document submission: The applicant or customer submits their bank statement, either in digital or physical form. Initial review: Basic checks and analysis of statements ensure the document is complete, legible, and covers the necessary period.

Verification 52

Verification AI Reconciliation Payment APIs and Integration 52

Nanonets

MAY 7, 2024

This process typically involves reviewing transactions, invoices, receipts, and other financial documents to verify that they match up with the company's records and budget. Credit card reconciliation helps identify discrepancies such as fraudulent transactions, duplicate charges, or unauthorised expenses.

Reconciliation 52

Reconciliation Best Practices Compliance Credit Cards 52

Nanonets

OCTOBER 1, 2024

It typically involves checking these fields, matching them against supporting documents like purchase orders, vendor contracts, and receiving reports. Documents essential to the validation process: 1. Invoice : The primary document detailing the amount owed and for what 2. They may be contacted for clarifications, too.

Best Practices 52

Best Practices Automation Multi-Currency Process 52

Nanonets

NOVEMBER 16, 2023

They should align with the goods or services received and must not be duplicates of invoices that were already processed.   Duplicate Invoice or Payment Audit The final is to verify that the payment hasn’t already been sent to a vendor for the line items on the invoice. Matching should be done before authorizing payment. 

Accounts 52

Accounts Best Practices Duplicate Checks 52

Nanonets

MAY 20, 2024

Cleansing data:  Preliminary analysis is used to identify and address data quality issues such as missing data, duplicate records, data with questionable provenance, and records that contain errors. Say goodbye to data entry errors, duplicates, and inconsistencies that can skew your analysis and lead to bad decisions.

Automation 59

Automation Payment APIs and Integration CRM AI 59

VISTA InfoSec

OCTOBER 20, 2023

Location: Document the physical or digital location of assets, including on-premise servers, cloud storage, or third-party data centers for ePHI data. Set up backup and recovery procedures: Develop protocols for duplicating and restoring ePHI data during data loss events.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

Nanonets

MARCH 4, 2024

Lawyers often grapple with many documents in the dynamic legal world where every second counts, and information is the key to success. The sheer volume of paperwork, from contracts and court pleadings to discovery documents and case research, can be overwhelming. What is OCR & what does OCR software do in the Legal Sector?

Legal 52

Legal Automation Laws AI 52

Nanonets

JUNE 12, 2024

Cost Savings: Implemented properly, purchase order management systems ensure that businesses can negotiate better terms with suppliers, avoid duplicate orders, reduce administrative costs, and avail early payment discounts. Need Identification and Requisition Employees should be trained to identify and document procurement needs accurately.

Best Practices 52

Best Practices Automation Small Business Process 52

Nanonets

MAY 21, 2024

Reconciling accounts receivable involves comparing the balances in the accounts receivable ledger with supporting documentation, such as invoices, receipts, and customer payments. Common discrepancies may include unapplied payments, duplicate entries, or incorrect customer balances.

Reconciliation 52

Reconciliation Accounts Adjustments Correspondent 52

Nanonets

FEBRUARY 19, 2024

Manual verification of IDs and travel documents is time-consuming. Immigration officers have difficulty quickly validating identities and spotting fraudulent documents when manually reviewing visas and passports. It identifies and recognizes text within scanned travel documents, photos, or images.

Automation 52

Automation AI Volume Checks 52

Nanonets

JANUARY 28, 2024

This would require aggregating data from multiple financial sources, extracting relevant data from documents, matching data across different sources, and fraud checks. The software will only pull relevant information from each document through OCR technology.

Reconciliation 52

Reconciliation Automation Fraud Detection Duplicate 52

Nanonets

MARCH 15, 2024

Line items don't get resolved until the client schedules a meeting with your team who is doing the invoice data entry and document management All of this leads to delays in monthly close for clients, late vendor payments, inadequate expense planning, and difficulties in maintaining financial integrity. How can AI help here?

Automation 59

Automation AI Accounts Duplicate 59

Nanonets

APRIL 18, 2024

This eliminates the need for duplicate data entry, ensuring accuracy and saving you valuable time. Scheduling of outbound e-document generation —The Electronic Invoicing SuiteApp enables an administrator to deploy a script to generate multiple e-documents simultaneously instead of manually generating e-documents for each transaction.

Automation 52

Automation AI Accounts Process 52

Fi911

AUGUST 7, 2024

Issuing banks are not required to justify their choices, while acquiring banks and merchants gain clarity on the documentation needed for representment. By using these codes, all parties involved can readily understand the circumstances that prompted the chargeback. Seems to make sense, right?

Visa 92

Visa Disputes Authorization CHIPS 92

Evolve Payment

OCTOBER 22, 2024

Fraudsters use everyday individuals’ information, frequently scraped from social media profiles or publicly available data like secretary of state filings, to create realistic duplicates of their identities. As part of this process, we may request key business documents and personal identity verification. Why Selfie Verification?

Deepfake 52

Deepfake Verification Fraud Detection AI 52

PYMNTS

MAY 16, 2020

But the company wrote in the document that under the system, users could “hold digital currency with the same denomination as the local physical currency (e.g., $100 But the company wrote in the document that under the system, users could “hold digital currency with the same denomination as the local physical currency (e.g., $100

Government 128

Government Governance Blockchain Request for Comment 128

Nanonets

JUNE 18, 2024

With disconnected data sources and innumerable documentation, accounting teams can face the added task of figuring in interest rates, exchange rates, and timing differences to reconcile balances effectively. Compare Data : Compare the general ledger balances with the supporting documentation to identify discrepancies or differences.

Reconciliation 52

Reconciliation Accounts Automation Credit Cards 52

Nanonets

APRIL 24, 2024

Data Collection : The auditor collects relevant data, including bank statements, transaction records, reconciliation reports, and supporting documentation. This may involve testing the segregation of duties, authorization procedures, and documentation practices to ensure compliance with internal policies and regulatory requirements.

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Nanonets

APRIL 16, 2023

MS-Word documents), data entry files (e.g., MS-Word documents), data entry files (e.g., MS-Excel files), structured XML documents from Electronic Data Interchange (EDI), PDFs and image files, and sometimes as hard copy documents. that can lead to loss of productivity and trust. Figure 4: OCR based data retrieval.

Automation 52

Automation AI Duplicate Accounts 52

Fi911

MAY 22, 2024

Duplicate Charges : If a payer is charged more than once for the same transaction, the duplicates can be reversed. Document any customer issues and your resolution steps for future reference. Maintain Accurate Records: Keep detailed transaction histories, including communications and delivery proofs.

Payer 89

Payer Address Verification System (AVS) Disputes Payee 89

Nanonets

MAY 21, 2024

At the core of accounts management lies account reconciliation, the process of comparing various financial documents to ensure accuracy and accountability.  Document Process: Maintain detailed records of steps, findings, and adjustments. Investigate Discrepancies: Analyze differences, trace transactions and rectify errors.

Best Practices 52

Best Practices Reconciliation Accounts Payment APIs and Integration 52

Fintech News

MAY 14, 2024

RealID: Fast and Accurate Onboarding RealID ensures fast and accurate onboarding by verifying ID authenticity and matching the user’s live selfie with the face on the document.

Deepfake 114

Deepfake Authentication Verification AI 114

Nanonets

JANUARY 14, 2024

A bank reconciliation statement is a financial document that compares the company's cashbook with the bank statements to ensure accuracy and consistency in financial records. A $100 quarterly interest payment by the bank is documented in the bank statement but is not included in the cashbook.

Reconciliation 52

Reconciliation Adjustments Checks Duplicate 52

Nanonets

SEPTEMBER 25, 2024

Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions. Regularly analyze reasons for variances (for eg: format differences, fraud, duplicate records) Discrepancy identification During reconciliation, any mismatches are flagged for further review.

AI 52

AI Process Best Practices Reconciliation 52

Nanonets

DECEMBER 6, 2023

By automating HR tasks such as data entry, document management, and payroll processing, organizations can achieve higher levels of accuracy and consistency. Collaboration features, such as shared document repositories and task management systems, facilitate seamless communication and coordination within the HR department.

Automation 52

Automation Process Payroll Compliance 52

Nanonets

JUNE 19, 2023

By automating HR tasks such as data entry, document management, and payroll processing, organizations can achieve higher levels of accuracy and consistency. Collaboration features, such as shared document repositories and task management systems, facilitate seamless communication and coordination within the HR department.

Automation 52

Automation Process Compliance Payroll 52

Nanonets

NOVEMBER 30, 2023

  Automate digital 2 or 3-way matching of invoices with purchase orders and receiving documents.   Stakeholders using the unified AP automation system gain access to relevant electronic document data, including the vendor invoice, purchase order, contract, and receiving report with a data repository connected to the supplier portal. 

Best Practices 52

Best Practices Accounts Automation Electronic Funds Transfer (EFT) 52

Nanonets

FEBRUARY 6, 2024

Reconciliation helps remove duplicate entries and rectify errors. Determine the scope of your work and gather documents like general ledger/invoice/bank statements, etc. Match the documents using document ID or amount/date combo. This is essential for financial reporting and tax compliance.

Reconciliation 52

Reconciliation Adjustments Automation Transactions 52

Nanonets

JULY 24, 2023

This essential practice involves comparing transactions and other financial activities with supporting documentation and resolving any discrepancies that may arise.   The source documents include invoices, receipts, and transaction statements.

Reconciliation 52

Reconciliation Finance Duplicate Accounts 52

Nanonets

JUNE 19, 2023

This includes reviewing invoices, purchase orders, and other relevant documents to verify that transactions are recorded in the appropriate accounting period. By performing these tests, auditors can check how well the company's internal control system documents transactions and adheres to the reporting timeline.

Audit 52

Audit Accounts Procedures Compliance 52

Nanonets

MAY 29, 2024

Purchase orders (PO) are legal documents that are drawn to finalize contracts between a buyer and a supplier. Today, This might involve printing the document and getting physical signatures. By documenting every purchase, businesses can easily monitor expenses and identify any unnecessary spending.

Small Business 52

Small Business Audit Automation Disputes 52

Nanonets

APRIL 2, 2024

One method involves a thorough review of documents and transactions to verify their accuracy and consistency with bank statements.   The bank reconciliation process involves several steps: Gathering Necessary Documents: Collecting bank statements, checkbooks, deposit slips, and invoices, bills, and receipts for comparison.

Reconciliation 52

Reconciliation Automation Regulatory Compliance Compliance 52