PYMNTS

MARCH 10, 2020

Accountant close management software company FloQast has upgraded FloQast AutoRec, the company’s AI-powered solution to account reconciliation, according to a release. . For the unmatched transactions that are left, FloQast helps those get resolved through a standardized Excel account reconciliation, and it has a full audit trail.

Reconciliations 54

Reconciliations Auditing Accounting Leverage 54

E78 Partners

JANUARY 5, 2024

Audits are an essential part of ensuring that a company’s financial statements are accurate and compliant with accounting standards. Proper preparation is critical in navigating the post-acquisition audit process smoothly, minimizing disruptions, and providing timely, accurate information to stakeholders.

Auditing 59

Auditing Valuation Concentration Reconciliations 59

E78 Partners

NOVEMBER 19, 2024

Audit season presents a set of unique challenges for private equity-backed companies, particularly those that must balance the expectations of investors with the demands of compliance. Ensure that impairment analyses are completed according to audit priorities, with asset groupings and forecast data that align with GAAP standards.

Auditing 52

Auditing GAAP Restructuring Compliance 52

E78 Partners

NOVEMBER 19, 2024

Audit season presents a set of unique challenges for private equity-backed companies, particularly those that must balance the expectations of investors with the demands of compliance. Ensure that impairment analyses are completed according to audit priorities, with asset groupings and forecast data that align with GAAP standards.

Auditing 52

Auditing GAAP Restructuring Compliance 52

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. Defining Account Reconciliation The basic steps involved in reconciliation transactions include the following: 1.

Reconciliations 52

Reconciliations Accounting General Ledger (GL) Finance 52

https://trustedcfosolutions.com/feed/

MARCH 22, 2023

This includes the segregation of duties, approval workflows, and regular audits. Reconciliations — Reconciliations involve comparing your accounts payable ledger to your vendor statements and ensuring they match. With Sage Intacct, you define the invoice workflows and approval thresholds, so nothing falls through the cracks.

Accounts Payable 108

Accounts Payable Accounting Invoicing Reconciliations 108

The Charity CFO

APRIL 1, 2025

Its not just about clean books or audit prep. This section focuses on: Approval workflows and disbursement controls Monthly reconciliations and reporting cycles Digital document retention Audit readiness and compliance planning These practices are essential to creating a trustworthy, funder-ready organization.

Nonprofit 52

Nonprofit CFO Leadership Cash Flow Forecasting 52

Future CFO

JUNE 24, 2024

For accountants, Gen AI can help in the reconciliation and in-depth risk assessment with its capability to execute tasks, understand context and patterns and suggest optimal strategies. This will be an ongoing challenge with AI as there should always be a means to review and audit the system and results.

Auditing 111

Auditing Financial Analysis Forecasting Reconciliations 111

CFO Talks

MARCH 25, 2025

Think of automated exception reports, audit trails, or simple dashboards that flag mismatches between systems. Heres what this looks like in the real world: Month-end close that runs smoothly because reconciliations are automated and flagged issues are dealt with daily, not at the eleventh hour. Detective Controls: Spot issues early.

CFO 52

CFO Reconciliations Finance Auditing 52

E78 Partners

SEPTEMBER 21, 2023

Audits, while essential for maintaining the integrity and trustworthiness of an organization’s financial reporting, can be a daunting task. This is not just because of the intricacies and specificities required by the auditing standards but also due to the numerous challenges faced by organizations in the run-up to an audit.

Auditing 52

Auditing General Ledger Reconciliations Accounting Standards 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

PYMNTS

SEPTEMBER 16, 2020

And anomaly detection and streamlined bank reconciliation will be available. One of the most exciting features within Acumatica Advanced Expense Management is its ability to detect corporate card use activities and remind the user to capture images of physical receipts for auditing and compliance purposes," she said, according to the release.

Reconciliations 76

Reconciliations Auditing Compliance Banking 76

CFO Talks

OCTOBER 3, 2024

Regular Reconciliations : Perform surprise cash counts and inventory checks and reconcile sales and deposit records frequently. Actionable Preventive Steps: Establish Strong Governance : Set up an independent audit committee to oversee financial reporting and ensure that internal audits are performed regularly.

Invoicing 98

Invoicing Auditing Benchmarking Reconciliations 98

Bramasol

AUGUST 31, 2023

Streamlined Reconciliation - The revenue recognition process is fully integrated into the Universal Journal. In addition, this internal reconciliation process can feed into other external enterprise level reconciliation processes, such as Blackline, if appropriate.

SAP 84

SAP Accounting Reconciliations General Ledger 84

PYMNTS

AUGUST 16, 2020

the newest update to its software, to help companies with faster account reconciliation, artificial intelligence, systems integration and more, a press release says. All of it will aid companies in reducing time spent on task management and audit preparation, which will help eliminate the risk of making mistakes in that area.

Accounting 67

Accounting Reconciliations Auditing Financial Reporting 67

Centage

SEPTEMBER 6, 2022

Excel does not have audit trail capabilities, so it is difficult to prevent fraud as numbers, and other financial data can easily be changed by any user. Without separation of duties or an audit that can track who has had access to the data, fraud can occur.

Securities 98

Securities Cash Flow Forecasting Budgeting Forecasting 98

PYMNTS

MARCH 6, 2019

One area where elimination of such processes can be of benefit is treasury management — specifically, reconciliation of transactions and liquidity management. The audit trail provides transparency, and smart contracts, tied as they are to permissions, help reduce the risk that cash might “accidentally” be sent to the wrong party.

Treasury 75

Treasury Auditing Foreign Exchange Pharmaceutical 75

https://trustedcfosolutions.com/feed/

AUGUST 12, 2022

separate the duties of importing bank transactions from bank reconciliations or establish smart rules to reject input from users who don’t have permission to perform specific tasks. For example, an administrator can.

Compliance 109

Compliance Reconciliations Securities Auditing 109

CFO Talks

DECEMBER 10, 2024

Conduct periodic audits of key processes and surprise checks in high-risk areas. Choose technology that fits your needs, whether its fraud detection software, automated reconciliation tools, or real-time dashboards. Regular monitoring can prevent similar failures. The takeaway?

Invoicing 52

Invoicing Compliance Reconciliations CFO 52

The Charity CFO

MARCH 2, 2022

You used to audit nonprofit organizations back in the day, similar to me, but while I was the CFO of a nonprofit, you were my auditor. Um, so that we can ensure we get through audits and then just kind of balancing all of those things together. And comparing things to the audit is always the first step that I take.

Nonprofit 98

Nonprofit Auditing Reconciliations Accounting 98

PYMNTS

JUNE 16, 2020

Optical character recognition] and document management for invoices without both a supplier portal and an integrated, auditable approval process is just another point of potential failure,” Amit said. Manual Reconciliation, Begone. Businesses must establish touchless interactions with suppliers and banks.

Reconciliations 67

Reconciliations Invoicing Accounts Payable Auditing 67

PYMNTS

NOVEMBER 1, 2020

End-of-month expense reports, which the release called "dreaded," can be done away with as paper processes aren't used and reconciliation is always happening as a 24/7 process. And, the release noted, costs can be cut due to automated processing and auditing, which can boost efficiency.

Reconciliations 67

Reconciliations Auditing B2B Economics 67

CFO Talks

SEPTEMBER 5, 2024

Implementing robust security measures, such as encryption, access controls, and regular audits, is essential to protect sensitive financial information. This not only improves efficiency but also empowers your team to focus on more strategic tasks. Automating Processes Automation is a powerful tool in modern FIS design.

IFRS 98

IFRS GAAP Compliance Reconciliations 98

Bramasol

APRIL 15, 2024

Interactive queries, such as identifying potential challenges with upcoming audits Proactive modeling and evaluations, such as impacts of pricing increases or discounts segregated by channels, geographies, etc.

SAP 82

SAP Financial Planning and Analysis (FP&A) Compliance Reconciliations 82

PYMNTS

NOVEMBER 20, 2020

While expanding internationally is the easy part, the challenge often comes in the back-office financials like invoicing , cross-border payments, accounting and reconciliation. Come auditing and tax time, maintaining compliance with all of the varying local regulations across different geographies adds an extra layer of complexity.

Mergers and Acquisitions (M&A) 61

Mergers and Acquisitions (M&A) Foreign Exchange Reconciliations Currencies 61

The Charity CFO

JANUARY 19, 2023

The goal is to create an accurate and comprehensive record of all transactions that can be used for both internal and external reporting, including audits and tax returns. Internal controls are a set of written policies, processes, procedures, and systems of authorization, reconciliation, documentation, security, and separation of duties.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

CFO Strategic Partners

JANUARY 18, 2023

Here’s how we provide value to CPA firms and their clients: Experienced CFO and controller-level support during the CPA firms’ audits and reviews Ability to cover interim absences and turnover, or additional support on a project basis Assist clients with getting their books, reconciliations and schedules audit-ready Relieves CPA firms of work their (..)

CFO 52

CFO Auditing Nonprofit Reconciliations 52

https://trustedcfosolutions.com/feed/

APRIL 5, 2023

Allows user-defined workflows to improve efficiency, compliance, and transparency, providing consistent audit trail visibility. Accruals and reversals are automated, and entries are visible at all times, reducing the manual work needed for journal entries and reconciliations. Customize Your Chart of Accounts With Dimensions.

General Ledger 62

General Ledger Reconciliations Accounting Standards Leverage 62

PYMNTS

OCTOBER 15, 2018

Others, like AppZen , are still exploring the use of artificial intelligence (AI) for features like real-time audits. Teampay , meanwhile, recently unveiled a suite of new features aiming to allow companies to view and monitor employee spend from a single platform. Deadlines are a huge issue in video production,” he said. “If

Reconciliations 58

Reconciliations Entertainment Auditing Finance 58

PYMNTS

APRIL 11, 2017

That includes line-item details, Visa said, with that data able to integrate into reconciliation tools. spend less time on reconciliation of their purchases and allow more card management options — all with the existing value and cost savings that come with an Amazon Business account.”.

Reconciliations 40

Reconciliations B2B Auditing Treasury 40

Future CFO

OCTOBER 2, 2024

In the audit space, AI offers enhanced capabilities for data analysis – enabling auditors to process information and identify outliers or anomalies more efficiently. One third (33%) of the surveyed organisations have already implemented AI solutions in this domain – signalling a strong focus on enhancing insight through advanced analytics.

Accounting 52

Accounting Data Analysis Accounts Payable Auditing 52

The Charity CFO

MARCH 6, 2024

Red Flag #1: Bank Account Reconciliation Whether the business is accrual or cash basis, it does not matter. Reconciliation is necessary and the bare minimum for successful completion of the accounting role. Once these have been transferred into the accounting system, QuickBooks for example, reconciliation is the next step.

Nonprofit 59

Nonprofit Accounting Reconciliations Invoicing 59

CFO Share

MARCH 14, 2022

What is the difference between a quality of earnings report and an audit? Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential. Reviews of account reconciliations, account aging, and composition.

Auditing 52

Auditing GAAP Accounting Principles Profit and Loss 52

CFO Thought Leader

APRIL 30, 2024

From his early days in auditing at PwC to his current role as CFO at Prophix, Aaron Levine has had a career that has closely tracked the evolving nature of the financial leadership role. Although we’re really focused on North America, we also have business units in EMEA, APAC, and Latin America.

CFO 52

CFO Financial Planning and Analysis (FP&A) Auditing Leadership 52

PYMNTS

DECEMBER 1, 2016

For corporate payments, that could mean more accurate cash flow forecasting, fraud identification or more efficient reconciliation. For tax and auditing purposes, using transaction data provides a more accurate data trail of where an employee is and where he or she is spending corporate funds.

B2B 58

B2B Cash Flow Forecasting Auditing Reconciliations 58

The Charity CFO

FEBRUARY 4, 2022

Prepare bank reconciliations. With our nonprofit bookkeeping and accounting services, we’ll ensure your books are always audit-ready. Record and classify payments and bank transfers . Organize and maintain receipts . Create invoices for goods, services, and donations. Enter bills and vendor invoices. Manage payroll .

Nonprofit 98

Nonprofit Invoicing General Ledger Accounting 98

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