Bramasol

AUGUST 31, 2023

These include: Real-Time Reporting - One source document triggers the creation of two separate journal entries directly in the general ledger. Transparency also provides clear audit trails for each revenue recognition posting, with a link to the reference document.

SAP 84

SAP Accounting Reconciliations General Ledger 84

The CFO College

AUGUST 31, 2021

As an accounting professional, you need to set up many processes for efficient data tracking, including: Month-end tie-out system to close out balance sheets, reconcile general ledger accounts, with full tick marks. Perpetual data room that gives all applicable parties access to reports, transactions, and tax information at any time.

Startups 81

Startups Accounting General Ledger Forecasting 81

PYMNTS

JANUARY 26, 2018

The core of the close process remains the same: corroborate the numbers in the general ledger,” explained Feinstein. But it would be a lot more efficient if close management apps were able to connect directly to the bank and reconcile transactions with the data in the GL [general ledger] system,” he continued.

General Ledger 47

General Ledger Benchmarking Reconciliations Accounts Payable 47

The Charity CFO

FEBRUARY 4, 2022

Execute data entry to keep the general ledger current . With our nonprofit bookkeeping and accounting services, we’ll ensure your books are always audit-ready. Organize and maintain receipts . Create invoices for goods, services, and donations. Enter bills and vendor invoices. Prepare bank reconciliations. Manage payroll .

Nonprofit 98

Nonprofit Invoicing General Ledger Accounting 98

CFO Simplified

DECEMBER 26, 2021

As you audit your accounting and finance departments, you may find there are some key roles missing from your business that could be negatively impacting your company’s bottom line. Accountants prepare financial statements, can execute internal audits, and prepare reports for taxes. Roles and Responsibilities. Bookkeeper.

Finance 52

Finance General Ledger CFO Auditing 52

Centage

JULY 25, 2023

Consolidating your financial data across several general ledgers quickly becomes complicated when you use spreadsheets. Additionally, Excel lacks audit trail capabilities, which makes it challenging to prevent fraud , as numbers can be changed easily by any user. Excel is ideal as a single-user tool.

Budgeting 98

Budgeting Financial Planning and Analysis (FP&A) General Ledger Forecasting 98

https://trustedcfosolutions.com/feed/

APRIL 5, 2023

Uses one set of financials and multi-dimensional reporting with an integrated General Ledger and real-time views of current and historical data. Allows user-defined workflows to improve efficiency, compliance, and transparency, providing consistent audit trail visibility.

General Ledger 62

General Ledger Reconciliations Accounting Standards Leverage 62

Planful

JUNE 22, 2017

Assets, Liabilities, Equity, Revenue, and Expense accounts) from multiple general ledger systems, and mapping it to a centralized chart of accounts. Undetected errors can occur and spreadsheets don’t provide adequate audit trails regarding changes to financial results in the process.

Accounting 40

Accounting General Ledger IFRS GAAP 40

The CFO College

JUNE 3, 2021

Acquiring these advanced types of services, like setting up a permanent audit trail, rolling cash forecast, month-end reporting, and strategic planning, is the secret sauce your potential client needs to know how their money flows in and out of their company (and what their financial future will look like).

Accounting 52

Accounting CFO Auditing General Ledger 52

Future CFO

SEPTEMBER 26, 2022

Finance has also invested heavily in technology to reduce time to close, with three technologies deployed by more than half of functions already: general ledger technology, a financial close solution, or workflow automation, Gartner said. Middle-office use cases, such as blockchain enabling an audit-ready continuous close.

Finance 52

Finance General Ledger Reconciliations Auditing 52

Embark With Us

JANUARY 19, 2022

Put another way, with Alteryx involved, information from disparate data sources can flow into your chart of accounts or general ledger without the manual heavy-lifting that's traditionally plagued accounting functions. Documentation and Data Audit.

Accounting 98

Accounting Finance Data Analysis General Ledger 98

The Finance Weekly

NOVEMBER 3, 2021

Account reconciliation is the matching and validating of balances in the general ledger (GL) to internal and external sources or other independent calculations to accurately close month-ends and year-ends. For both internal and external sources, each balance has to match the corresponding account in the general ledger.

Reconciliations 52

Reconciliations Accounting General Ledger (GL) Finance 52

Centage

OCTOBER 3, 2022

Fraud can be challenging to prevent if there is a lack of an audit trail with Excel. Instead, you must share a single password with everyone in your business who needs access. Excel also lacks role-based security, so anyone with the password can see everything in the spreadsheet.

Forecasting 98

Forecasting Budgeting Data Analysis Financial Modeling 98

Bramasol

JULY 26, 2024

Companies need end-to-end integrated solutions for revenue recognition compliance that fit seamlessly within both their existing operational and financial systems while providing the detailed information, audit trail, aggregation methodologies and advanced analytics to support disclosure reporting.

SAP 79

SAP IFRS GAAP Compliance 79

CFO Simplified

APRIL 15, 2022

The general ledger layout is generic in nature. The non-standard reporting creates minor issues with annual bank audits. Financial Reporting and Accounting. The chart of accounts doesn’t reflect the unique nature of the products that the company sells, nor the specific cost elements of manufacturing.

Manufacturing 52

Manufacturing General Ledger Budgeting CFO 52

Planful

SEPTEMBER 10, 2015

ERP includes a general ledger which summarizes all of the details from other modules like purchasing, accounts payable, and accounts receivable. A good EPM solution will also make the financial auditing process much simpler and faster. The Differences Between EPM and ERP.

Planning 40

Planning General Ledger Accounts Payable Budgeting 40

Planful

OCTOBER 20, 2015

When you begin the process of closing, you start by exporting trial balance data out of the general ledgers or ERP software and collect the data into spreadsheets that have to be reviewed and processed manually. Excel is Inherently Insecure and Difficult to Audit. In Excel, all the data is visible to all of the users.

General Ledger 40

General Ledger Accounting Standards Auditing Currencies 40

PYMNTS

AUGUST 5, 2016

Take auditing for instance. The CEO explained that, traditionally, accountants would print out reconciliations and store them in binders; auditors would then take a sample of those reconciliation documents and match those against the general ledger. “That’s an insane approach.”

Accounting 42

Accounting Reconciliations General Ledger Auditing 42

Planful

NOVEMBER 10, 2016

For example, the integration of financial data from general ledgers (GLs) and operational data from human capital management (HCM) and other sources is required to support the financial consolidation and reporting process.

General Ledger 40

General Ledger Budgeting Forecasting Financial Data 40

The Charity CFO

APRIL 25, 2024

The easier it is to dive into transactions, the easier it will be to report on where the money is coming from, where it’s going, and to audit what’s happening. This allows us to always be audit-ready, and it eliminates the need to maintain physical folders with copies of receipts, deposit slips, etc. The biggest flex from Bill?

Nonprofit 52

Nonprofit Accounting CFO Auditing 52

Spreadym

JULY 10, 2023

Subsidiary Ledgers and Reconciliations: Subsidiary ledgers, such as accounts receivable and accounts payable, are reconciled to the general ledger to ensure consistency and accuracy. These entries correct errors, allocate costs, or reclassify transactions to the appropriate accounts.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Reconciliations Accounts Payable General Ledger 52

Creative CFP

OCTOBER 2, 2020

There is drill-down functionality available from the general ledger, and you can click right through to the supplier invoice. It makes any query and audit way easier than before. ▪︎ GOING PAPERLESS Xero’s platform allows for every transaction to have a source document digitally attached to the transaction.

Accounting 52

Accounting Finance Cash Flow Forecasting General Ledger 52

CFO Talks

JANUARY 31, 2023

Before joining SANAC, Nonhlanhla was the CFO of the Education Training and Development Practices SETA, the Acting CFO of the Office of the Public Protector South Africa and the Central Energy Fund, and an Audit Manager at the Auditor-General’s office of South Africa. She is a Chartered Accountant and a CFO Club member.

CFO 52

CFO Auditing General Ledger Finance 52

Centage

OCTOBER 3, 2022

Fraud can be challenging to prevent if there is a lack of an audit trail with Excel. Automate integrate your general ledger with our software. Instead, you must share a single password with everyone in your business who needs access. Regularly modify and monitor your financial plan.

Forecasting 52

Forecasting Budgeting Data Analysis Financial Modeling 52

CFO Talks

FEBRUARY 20, 2024

He started off as a SAICA trainee at Nol ands , a very we ll -known auditing and accounting firm. Yes, I know you sit in university, and you sit and learn how to reconcile a general ledger and you learned how to interpret standards and how to recognize it in it. And as I said, he’s a qualified CA. And that’s all.

Leadership 52

Leadership CFO Accounting Finance 52

Onplan

NOVEMBER 30, 2022

The Basic level offers essential modeling and planning features, while the Professional and Enterprise plans offer additional security and compliance features, like Audits and App Lifecycle Management. Additionally, users have separate roles and validations, creating an audit trail that ensures your data is protected and secure.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Budgeting Forecasting Planning 52