Gaviti

JANUARY 26, 2025

A robust customer payment portal streamlines collections, simplifies the act of transferring payments, and eliminates many of the manual tasks that can bog down a companys operations. As you grow, managing invoices, histories, collections, and customer communication in general becomes increasingly unsustainable.

Accounts Receivable

Trade Credit & Liquidity Management

MAY 28, 2025

Maintaining strong relationships with key customers is an essential element of credit and collection management as well as customer care, more so in today’s frenetic economic environment. This is also an opportunity to resolve long-standing disputes and reconcile account issues. Establish a Personal Connection.

Collections

Accounting Today

JULY 29, 2025

Fyle was an attractive purchase because it offers features like unique real-time notifications on transaction spend as well as an intuitive end-user experience (namely, the ability to to submit and reconcile expenses with a simple text.) "Big Fyle will continue to integrate with third-party accounting and financial systems.

Corporation Tax

Accounting Tools

JUNE 19, 2023

List on the daily reconciliation form all cash collected, which may be broken down by individual type of bill and coin. Reconcile the differences between the two columns. Cash Reconciliation Form Money Collected by Type Sales Recorded by Type Difference + (over) / - (short) Cash collected $515.00 Checks collected 84.50

Bank Reconciliation

Accounting Tools

MAY 21, 2023

Responsibilities of a Full Charge Bookkeeper The subject areas over which the full charge bookkeeper has responsibility are as follows: Record and pay accounts payable Issue invoices to and collect from customers Calculate pay and issue payments to employees Create financial statements and related financial reports Remit payroll taxes , sales taxes (..)

Bookkeeping

Nanonets

MAY 21, 2024

Reconciling accounts receivable involves comparing the balances in the accounts receivable ledger with supporting documentation, such as invoices, receipts, and customer payments. Reconcile Ageing Reports: Review ageing reports to identify overdue invoices and outstanding balances.

Accounts Receivable

Accounting Tools

NOVEMBER 1, 2023

Reconciling a bank statement , which likely produces adjustments to the cash account. For example, there are tax accountants , cost accountants , payroll clerks , billing clerks , general ledger accountants , and collection clerks. In addition to transaction recordation, an accountant produces a number of reports.

General Ledger

MineralTree

MARCH 9, 2023

In this article, we explore the common issues with B2B cross-border payments and the steps companies can take to improve their international AP process. Else, they run into increased risk of overpayments or underpayments which can be difficult to reconcile due to mismatches in bank records and ERP. What are B2B Cross-Border Payments?

AP

Billing Platform

FEBRUARY 17, 2025

This article explores the meaning, examples, and importance of accrued revenue, while comparing it with deferred revenue and accounts receivable. Accrued Revenue: Definition : Revenue is earned but not yet billed or collected. Accrued Revenue vs. Accounts Receivable Both represent income yet to be collected, but they differ.

Accruals

Nanonets

JANUARY 28, 2024

Learning to reconcile with QuickBooks Online is a starting step for using QuickBooks to manage books. QuickBooks is a handy tool to help you reconcile your accounts without using any external tools.    In this article, we walk through the reconciliation process in QuickBooks, address common issues, and provide useful tips.

QuickBooks

Future Firm

JULY 21, 2022

In this article, you’re going to learn about: What an accounting engagement letter for your firm is. Payment terms: A simple statement of when you collect (e.g. Reconcile the agreed amount of transactions by the agreed timeframe. Enter sales invoices and/or collecting receivables. Items to put in yours.

Accounting

Jetpack Workflow

AUGUST 24, 2023

In this article, you’ll find a free set of templates to help you get started. Reconcile Cash and Receipts At the end of each day, reconcile all cash payments and payment receipts received in the general ledger to get a good idea of each client’s cash balance.

Reconciling

Nanonets

MAY 31, 2023

This article explores the case for integrating AI into your finance function, the route to achieving it, and how your business can step change as a result. This process is also time-consuming, as tasks like reconciling accounts, generating reports, and conducting financial analysis require several manhours.

Data Entry

Accounting Tools

JULY 31, 2023

Related Courses Bookkeeping Guidebook Credit and Collection Guidebook The Interpretation of Financial Statements What are Net Receivables? This information is used to measure the credit and collection effectiveness of an organization, and can also be included in the cash forecast to measure projected cash inflows.

Collections

Nanonets

JUNE 21, 2023

In this article, we will explore the process of reconciliation and discuss the steps. The aim is to reconcile the data and ensure that transactions match supporting documents across different sources. Here are the general steps involved: Gather relevant documents Collect all the necessary financial documents that need to be reconciled.

General Ledger

Nanonets

APRIL 24, 2024

  This article discusses the significance of bank reconciliation audits and the role of automation in streamlining the process. Integrate Nanonets Reconcile financial statements in minutes Try for Free   What is Bank Reconciliation? Looking out for a Reconciliation Software?

Bank Reconciliation

Nanonets

JANUARY 29, 2024

QuickBooks is one of the most widely used apps for bookkeeping, and it offers a convenient way to reconcile credit cards without needing external tools.    In this article, we guide you through the credit card reconciliation process in QuickBooks, addressing common issues and providing useful tips to streamline the procedure.

QuickBooks

Nanonets

JUNE 21, 2023

As transactions flow in and out, reconciling payments becomes crucial to ensure accuracy, identify discrepancies, and maintain a clear financial picture. This article will provide a comprehensive guide to reconciling payments, its importance, challenges faced, best practices, and the role of automation in enhancing the process.

Reconciling

Nanonets

MAY 21, 2024

    In this article, we shall explore the fundamentals of accounts reconciliation , discussing its importance, processes , and best practices.   Review and Approve: Validate reconciled accounts for accuracy, seeking approval from stakeholders.

Account Reconciliation

Nanonets

APRIL 12, 2024

This article will provide a comprehensive understanding of account reconciliation, the benefits and challenges of outsourcing this activity, and the transformative potential of automated reconciliation software.    Integrate Nanonets Reconcile financial statements in minutes Try for Free   What is Accounts Reconciliation?

Account Reconciliation

Nanonets

FEBRUARY 6, 2024

This article provides the most comprehensive guide to intercompany reconciliation and how automation can help you save time & cost!   We can divide the accounting process into 4 steps: Data Collection : Each subsidiary company maintains its sub-ledger. This has to be finalized and shared with the parent company.

General Ledger

Nanonets

APRIL 15, 2024

Integrate Nanonets Reconcile financial statements in minutes Try for Free This article presents the importance of bank reconciliation statements and provides insights into the benefits of automation in the generation of bank reconciliation statements. This can be acquired through bank statements or online banking portals.

Bank Reconciliation

Accounting Tools

MAY 4, 2024

Related AccountingTools Courses Accountants’ Guidebook Bookkeeping Guidebook Credit and Collection Guidebook Related Articles Accounts Receivable Accounting Accounts Receivable Aging Accounts Receivable Analysis How to Reconcile Accounts Receivable

Accounts Receivable

Accounting Tools

JULY 27, 2023

Related Courses Credit and Collection Guidebook Bookkeeping Guidebook Budgeting CFO Guidebook Cost Accounting Fundamentals New Controller Guidebook Payables Management Payroll Management Project Accounting Someone wanting to enter the accounting field can choose to train for a number of possible positions.

General Ledger

Nanonets

JUNE 23, 2023

It involves comparing and reconciling the balances of various accounts in the balance sheet with supporting documentation. In this article, we will explore in detail what balance sheet reconciliation entails, the step-by-step process involved, the benefits it offers, and most importantly, five common mistakes to avoid.

General Ledger

Accounting Tools

NOVEMBER 8, 2023

Related Courses Bookkeeping Guidebook Credit and Collection Guidebook How to Audit Receivables What are Trade Receivables? This report is commonly used by the collections staff to collect overdue payments from customers.

General Ledger

Accounting Tools

AUGUST 6, 2023

Related Courses Credit and Collection Guidebook Effective Collections How to Audit Receivables The amount of uncollectible accounts receivable must be estimated in order to create an allowance for doubtful accounts. This estimate can be derived from the aged accounts receivable report, or by using a percentage of sales.

Accruals

oAppsNet

JANUARY 9, 2024

This article serves as a comprehensive guide, delving into the essential steps and advanced strategies businesses can employ to master the art of Vendor Statement Reconciliation. Simultaneously, reconciling outstanding balances on vendor statements with internal records helps identify any disparities that may impact future transactions.

Purchase Order

Nanonets

APRIL 3, 2024

In this article, we will discuss the importance of the vendor reconciliation process and the benefits of employing AI-enhanced tools such as Nanonets. By reconciling invoices and payments promptly, businesses can avoid overpaying or missing payments, thereby maintaining healthy cash flow levels.

Account Reconciliation

Nanonets

APRIL 2, 2024

This article highlights the importance of bank reconciliation, and its role in maintaining financial control, accountability, and protection against errors and fraud. Cash Flow Management: By reconciling bank statements regularly, businesses can effectively manage their cash flow. What Is a Bank Reconciliation?

Bank Reconciliation

Accounting Tools

JUNE 8, 2024

The bookkeeper also reconciles accounts to ensure their accuracy. Related Articles Bookkeeper Role in an Accounting Department (podcast) Full Charge Bookkeeper How to Become a Bookkeeper

Bookkeeping

Nanonets

JULY 21, 2023

In this article, we will delve into the concept of general ledger reconciliation, its importance to businesses, and how to achieve it efficiently with the help of automation, particularly tools like Nanonets. The process may vary depending on the complexity of the organization and the specific accounts being reconciled.

General Ledger

Accounting Tools

FEBRUARY 15, 2024

A not sufficient funds check is a reconciling item on a bank reconciliation , since if you deposit a check, you assume that it has cleared the bank, whereas a not sufficient funds check has not cleared the bank, thereby reducing the on-hand cash balance.

Bank Reconciliation

Nanonets

APRIL 1, 2024

Although Nanonets and Tipalti provide a wide range of business solutions, this article will focus solely on comparing their AP automation capabilities. Multi-entity and multi-subsidiary support that allows you to manage and reconcile payments across different business units and geographies.

AP

Jetpack Workflow

MARCH 21, 2023

In this article, we will help you identify whether spreadsheets are an ideal choice for you. Some advantages of using software for bookkeeping include the following: Reduces manual tasks, such as uploading bank transactions, sending invoices, and reconciling ledgers. Track, reconcile, and manage inventory. Run payroll.

Bookkeeping

Accounting Tools

APRIL 8, 2024

You will have problems collecting accounts receivable if an order is shipped to a customer with a bad credit rating. The collections staff reviews all overdue accounts receivable using collections software, using it to contact customers and discuss their payment situations. Overdue accounts analysis. Write-off approvals.

Accounts Receivable

Accounting Tools

JUNE 20, 2023

Related Courses Credit and Collection Guidebook The Balance Sheet The Interpretation of Financial Statements The average accounts receivable figure is needed in certain situations to avoid measurement problems.

Accounts Receivable