SMB Accounting and Consulting

DECEMBER 21, 2022

Generally speaking, bookkeeping is a part of the accounting process that focuses on recording financials transactions and is heavily rooted in data entry and reconciliation of bank and credit card transactions and statements. Forensic accountants research financial transactions to uncover fraud.

Bookkeeping

Nanonets

NOVEMBER 16, 2023

From receiving invoices to managing approvals, fulfilling payments, and ensuring proper accounting practices, each step in the AP process can be optimized through automation. AP automation uses technologies like Optical Character Recognition (OCR) and AI to digitize and extract key data from invoices regardless of their format.

AP

AvidXchange

FEBRUARY 27, 2019

For these reasons, many companies are attempting to streamline their finance and accounting operations by adopting and integrating automated accounts payable tools and by restructuring their internal processes for a 21st-century business environment. Some are still heavily dependent upon paper invoices and checks.

Accounts Payable

Nanonets

JUNE 27, 2024

Bank reconciliation is essential since it helps in the early detection of fraud, prevents financial statement errors during manual data entry, and provides a clearer picture of the company's finances. Without this insight, accounting teams might ignore missed payments, outstanding invoices, etc.

Reconciling