Remove Financial Analysis Remove General Ledger Remove Purchase Order
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General Ledger (GL): Definition, Significance, Implementation

Nanonets

Welcome to our latest blog post, where we embark on a deep dive into the intricacies of the General Ledger (GL) — the bedrock of any business's financial system. We will start with the basics: What exactly is a General Ledger, and why is it paramount to your business's financial health?

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Understanding Encumbrance Accounting: A Comprehensive Guide

Nanonets

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.

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How to convert PDF invoices to Excel in seconds?

Nanonets

As a finance professional, you want to use invoice data to process payments, match invoices with purchase orders or create financial reports. Excel is a great way to perform financial analysis, manipulate data, sort and filter information, and perform complex calculations.

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How to automate invoice coding: A practical AP guide

Nanonets

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.

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An Overview of Netsuite AP Automation

Nanonets

Inventory Management: NetSuite's automation features extend to inventory management, where businesses can set up reorder points, automated stock transfers between locations, and automatic purchase order creation based on demand. NetSuite AP Automation also offers an intelligent purchase order matching system.

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What is financial data extraction?

Nanonets

Extracting relevant and accurate financial data from financial and business documents is critical for effective decision-making, financial analysis, and integrity, as well as regulatory compliance. What are the three types of financial analysis?

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The Comprehensive Guide to Intercompany Reconciliation

Nanonets

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.