PYMNTS

JANUARY 26, 2018

The core of the close process remains the same: corroborate the numbers in the general ledger,” explained Feinstein. Open Banking could have a significant impact on [the] close process in that it will help automate reconciliations of cash accounts,” the executive explained. “In Take Big Data, for instance.

General Ledger 47

General Ledger Benchmarking Reconciliations Accounts Payable 47

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

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

Embark With Us

JANUARY 19, 2022

Reconciliations shouldn't induce night sweats. 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. Automation.

Accounting 98

Accounting Finance Data Analysis General Ledger 98

Bramasol

JULY 26, 2024

Some of the key challenges include: Complexity and Volume of Data : Handling large volumes of financial data spread across multiple systems increases the complexity of consolidation and reconciliation. Manual Processes: Reliance on manual data entry and spreadsheet-based reconciliations can be time-consuming and error-prone.

SAP 78

SAP IFRS GAAP Compliance 78

Spreadym

JULY 10, 2023

Here are the typical steps involved in the financial close process: Pre-Close Activities: This phase involves preliminary activities to prepare for the close process, such as reviewing account reconciliations, ensuring the completeness of transactions, and resolving any outstanding issues or discrepancies.

Financial Planning and Analysis (FP&A) 52

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

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

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. Let’s take a deeper look.

Nonprofit 52

Nonprofit Accounting CFO Auditing 52

PYMNTS

JANUARY 22, 2019

Accounting, consultancy and technology firm Crowe is rolling out a new solution designed for hospitals to automate daily bank reconciliation processes and manage cash flow, the company said in a recent announcement. Hospitals can often struggle to manually reconcile cash flow coming from multiple sources.

Cash Management 73

Cash Management General Ledger Reconciliations Healthcare 73