Nanonets

JANUARY 1, 2024

In this blog, we'll delve into what invoice audits entail and why they are crucial for the financial integrity of businesses. What is an Accounts Payable Audit?    An Account Payable Audit is a process by which the financial records of the accounts payable department are examined by an auditor.

Invoicing

Invoicera

DECEMBER 31, 2023

In this blog post, we discuss the top 12 accounting automation tools for 2024 that promise to transform how you handle your accounting processes. One misplaced digit could lead to miscalculations, resulting in financial discrepancies that could harm your business. These trails prove invaluable during audits and compliance checks.

Data Entry

Invoicera

JANUARY 2, 2024

In 2024, the way accountants handle transactions will change a lot. Experts say 2024 will see big changes in how payments work. According to a top financial analyst – ‘Digital banking is changing how we pay’. Payment trends indicate the changing ways and developments in handling and processing financial transactions.

Accounting

Nanonets

JANUARY 18, 2024

This increased accuracy is crucial for maintaining financial integrity and ensuring that orders are processed correctly. The software also maintains a digital trail of all transactions, which helps in auditing and resolving any discrepancies that may arise.

Purchase Order

Nanonets

JUNE 26, 2024

Still, if you take the steps listed in the bank reconciliation example, you can ensure the financial accuracy of the records.      Record the balances registered for the bank account balance and the company's cash account. These need to be adjusted in the company's records.

Bank Reconciliation

Counto

SEPTEMBER 20, 2024

GST Rates and Their Implications Current GST Rate: The standard GST rate is 8% and will increase to 9% from 1 January 2024. Regularly Update Financial Records Avoiding Last-Minute Hassles: Keeping records current ensures accurate GST filings and prevents last-minute complications.

Bookkeeping

Jetpack Workflow

JULY 19, 2024

Document Management Accountants must collect, store, and manage a range of client documents and paperwork, including proposals, engagement letters, and financial records. This all-in-one platform includes a variety of applications for tax, audit, and firm management and its Client Collaboration tool. month + $5.10/employee/month.

CPA

AvidXchange

AUGUST 29, 2024

The Institute of Finance & Management (IOFM)’s Finance & Accounting Appreciation Week 2024 is September 23-27, 2024. This can lead to more accurate financial records and reduced errors. Data Analysis With automation, AP teams can easily access and analyze large volumes of financial data.

AP

Nanonets

JUNE 4, 2024

This list is based on the latest internal benchmarking research and inputs from customers/users as of May 2024. By streamlining expense management, Veryfi helps users maintain precise financial records effortlessly, ensuring compliance and reducing the risk of human error. We will attempt to keep this list updated each quarter.

Data Entry

Nanonets

FEBRUARY 19, 2024

In this blog, we will explore the essential task of filling out receipt books, a foundational element of financial record-keeping for both small and large businesses. Documenting transactions in receipt books ensures accuracy in financial management, compliance with tax regulations, and the ability to resolve discrepancies with ease.

Record Keeping

Nanonets

MARCH 4, 2024

The goal of an expense reimbursement process is not just to ensure that employees are compensated in a timely and fair manner but also to maintain accurate financial records and comply with tax laws and regulations. 15 Best Spend Management Software Solutions in 2024 Explore the world of spend management software in 2024.

Expense Reports

AvidXchange

AUGUST 27, 2024

A Guide to the Prospective Advantages According to our recent Controllers Council National Survey (March 5-19, 2024, 378 respondents participating across North America), 95% of finance departments are at least partially automated. Automated systems also provide detailed audit trails, offering transparency into each step of the AP process.

Accounts Payable

Nanonets

APRIL 29, 2024

The Top Credit Card Reconciliation Softwares in 2024 Credit card reconciliation is a crucial aspect of financial management for businesses of all sizes. It is the process of comparing and matching credit card transactions with corresponding spends and financial records to ensure accuracy and transparency in financial reporting. 

Data Entry

Nanonets

MARCH 4, 2024

Integration with Financial Systems : AI can seamlessly integrate expense management systems with other financial software, such as accounting systems or ERP solutions. This integration facilitates real-time financial analysis and helps maintain accurate financial records. Read it by clicking the link below.

Data Entry

Invoicera

APRIL 10, 2024

Moreover, proper invoicing practices are highly crucial during tax audits. Discrepancies can trigger further scrutiny, penalties, or audits, which will only cost your business dearly. Facilitating Tax and Financial Reporting Adhering to invoicing rules is good practice when documenting transactions.

Invoicing

Nanonets

JULY 14, 2024

IInvoice management software is transforming financial processes for businesses in 2024. That's why we've created this guide to the top 10 invoice management solutions of 2024. Let's look into the top 10 picks for 2024. #1. These issues can impact cash flow and overall efficiency. Let's get started.

Invoicing

Nanonets

JUNE 18, 2024

10 Best Receipt Scanner Apps in 2024 We’ve found 10 receipt scanner apps that help you digitize receipts, extract relevant information, create expense reports and manage all your expenditure from one single app.   Sometimes, employees intentionally inflate costs by submitting erroneous or duplicate receipts. How to get started?

Expense Reports

Nanonets

FEBRUARY 28, 2024

Ready for an Audit: If one is audited by the IRS (Internal Revenue Service), it will be simple to formulate the audit since your monetary records are all in one spot. Compliance and Reporting Audit Trails : Records of changes to data for transparency and compliance. This enables you to balance the books.

General Ledger