Accounting Tools

DECEMBER 26, 2023

A business transaction is an economic event with a third party that is recorded in an organization's accounting system. Once a business transaction has been recorded, it will flow through the accounting system and appear in a firm’s financial statements. Lower-volume transactions are posted directly to the general ledger.

General Ledger 40

General Ledger Financial Statements Purchase Order Accounts Payable 40

Nanonets

SEPTEMBER 21, 2023

In simple terms, the accounting cycle refers to the series of steps that businesses follow to record and process financial transactions, from identifying the transactions to preparing financial statements. The accounting cycle is a series of steps that businesses follow to record and process financial transactions.

General Ledger 40

General Ledger Financial Statements Accounting Accounting 40

Billing Platform

SEPTEMBER 25, 2023

In the event of an invoice dispute, the customer may pay the portion of the invoice that is not in dispute. Step 8: Handle Reporting During the month end close process, the finance team reviews all recorded transactions and transfers the closing balance of all general ledger accounts into a report (trial balance).

Account Receivables 98

Account Receivables Accounts Receivable Accounts Receivable AR 98

Accounting Tools

MAY 15, 2023

Related Courses The Interpretation of Financial Statements Stockholders' equity is the residual amount of funds in a business that theoretically belong to its owners. If the preceding options are not available, it will be necessary to compile the amount from individual accounts in a company's general ledger.

General Ledger 40

General Ledger Financial Statements Accounting Accounting 40

Nanonets

MAY 21, 2024

Any discrepancies found are investigated and resolved to maintain the integrity of the financial records. Identifying and addressing discrepancies: Reconciliation helps uncover discrepancies between the amounts recorded in the ledger and the actual transactions, allowing businesses to rectify errors and prevent financial misstatements.

Account Receivables 52

Account Receivables Accounts Receivable Accounts Receivable General Ledger 52

Nanonets

MAY 2, 2024

  NetSuite cloud accounting software helps your business record and manage transactions, including those related to accounts receivable and accounts payable, close the books, and prepare reports and financial statements.    Why are NetSuite workflows so convenient? 

Invoicing 52

Invoicing Invoice Processing AP Purchase Order 52

AvidXchange

SEPTEMBER 19, 2017

That’s why we’ve organized a panel of financial thought-leaders and AvidXchange customers to share their personal best practices for a successful year-end closing. This live event, Tips & Tricks to Prepare for Year-End Close , will take place on September 21 at our new corporate campus located at the AvidXchange Music Factory.

Billing 52

Billing AP Accounts Payable Accounts Payable 52

Accounting Tools

JUNE 19, 2023

Financial Results Due Diligence Checklist Annual Financial Statements Ideally, there should be financial statements for the past five years, which the team should translate into a trend-line comparison for the full five years. Cash Flow Analysis A key part of the financial statements is the statement of cash flows.

Financial Statements 73

Financial Statements Auditing Accounts Payable Accounts Payable 73

Nanonets

MARCH 12, 2024

Record-to-Report (R2R) is a critical finance management process in corporate finance, which focuses on collecting, processing, and delivering accurate financial data. For businesses, R2R is not merely a regulatory or accounting formality but serves as the backbone of strategic financial planning and analysis.

Financial Reporting 52

Financial Reporting Accounting Software Financial Statements Collections 52

Nanonets

FEBRUARY 21, 2024

Intelligent Data Interpretation : Beyond mere extraction, advanced AI algorithms interpret invoice data, automating tasks such as general ledger coding and expense categorization based on historical data and contextual understanding. Zapier - Trigger Event Trigger an event in Zapier with extracted data.

Invoice Processing 52

Invoice Processing Invoicing QuickBooks Data Entry 52