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General Ledger (GL): Definition, Significance, Implementation

Nanonets

Welcome to our latest blog post, where we embark on a deep dive into the intricacies of the General Ledger (GL) — the bedrock of any business's financial system. We will start with the basics: What exactly is a General Ledger, and why is it paramount to your business's financial health?

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What is financial data extraction?

Nanonets

from 2020 to 2027. Financial data can be obtained through various methods, including: Internal Data: This includes financial data generated and recorded within the organization, such as sales records, purchase orders, and general ledger entries. The global data extraction market was valued at $2.14

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What is Invoice Processing?

Nanonets

Manual Invoice Processing Conventional processing of invoice involves the following basic steps: Assessment of the invoice received from the vendor:  An invoice is first received from a vendor for a product or service that has been ordered usually through a purchase order (PO).

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The Case for Lien Waiver and Payment Automation in Construction

AvidXchange

The National Association of Home Builders (NAHB) reported that the cost of building materials has risen by 34% since December 2020, outpacing the general rate of inflation. Uncertainty around new and proposed tariffs is also prompting many contractors to delay purchasing decisions or reevaluate supplier relationships.

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