MineralTree

MARCH 30, 2023

Accounting for franchises is a complex web of responsibilities. Accounts payable (AP) automation has become a popular tool for franchises to overcome these obstacles. In this article, we will discuss the challenges associated with franchise accounting and how AP automation helps solve them.

AP 79

AP Accounting Accounting Invoicing 79

Nanonets

FEBRUARY 6, 2024

This is essential for financial reporting and tax compliance. Determine the scope of your work and gather documents like general ledger/invoice/bank statements, etc. The external transactions go through the routine account reconciliation procedure, where the general ledger is matched with documents like bank statements.

General Ledger 52

General Ledger Financial Statements Reconciling Collections 52

Nanonets

SEPTEMBER 23, 2023

The process of  encumbrance accounting  involves creating encumbrance journal entries after purchase requisitions and purchase orders. These encumbrances can be tracked manually or automatically through specialized systems like Oracle General Ledger. Q: What are the benefits of encumbrance accounting?

General Ledger 52

General Ledger Accounting Accounting Budgeting 52

Nanonets

SEPTEMBER 1, 2023

The need for AI in Accounting In traditional accounting operations, companies often rely on manual processes, extensive paperwork, and repetitive tasks to handle their accounting function. This can lead to delays in financial reporting and decision-making. Have you encountered situations like the ones below?

AP 52

AP Accounting Accounting General Ledger 52

Future Firm

JULY 11, 2023

Streamlining Finance Communications : A staff accountant can handle communications for your firm, promptly addressing queries from suppliers, customers, and employees. Assisting with Budgeting and Forecasting : Collaborate with a staff accountant to help with budgeting and forecasting processes.

Accounting 40

Accounting Accounting Financial Analysis Financial Records 40

Nanonets

JUNE 25, 2024

These codes, often called General Ledger (GL) codes, categorize expenses for accounting purposes. Think of it as giving each expense its own 'address' in your financial records. Detailed invoice coding enables accurate budget tracking, easier reporting, faster approvals, and better financial analysis.

AP 52

AP Invoicing Purchase Order Data Entry 52

Nanonets

MAY 8, 2023

The double-entry accounting system is a built-in cross-checking system that reduces human error. Automate general ledger entries, GL coding, invoice management , and more. The financial statements will also play a key role in income tax preparation for the business – another job for the accountant.

Bookkeeping 52

Bookkeeping Financial Statements Accounting Software Reconciling 52

Nanonets

MARCH 4, 2024

Expense Categorization and GL Coding : AI enhances efficiency by automatically categorizing expenses and assigning them to the correct General Ledger (GL) codes. It reduces manual effort, increases accuracy, and ensures consistency in financial reporting. How Happy Jewellers, a SMB, benefitted from NanoNets.

Data Entry 52

Data Entry Expense Reports Invoicing General Ledger 52

AvidXchange

SEPTEMBER 1, 2017

Whether your business uses Quickbooks , Oracle JD Edwards, SAP, Oracle NetSuite , or one of dozens of other accounting and enterprise resource planning (ERP) packages, your payment application should directly integrate. This means every payment is automatically recorded on the general ledger. These savings can add up fast.

Billing 52

Billing Invoicing Deposits Computation 52

Future Firm

SEPTEMBER 1, 2023

Below are some of the best cloud accounting software for small businesses. 1) QuickBooks Online A true juggernaut in the small business accounting software space, QuickBooks Online is widely known across firms and self-employed business owners alike as one of the best accounting software products. 11) Dext I love me some Dext.

Accounting Software 98

Accounting Software XERO QuickBooks Accounting 98