PYMNTS

APRIL 10, 2019

Corporates’ biggest procure-to-pay challenges often center around the friction of streamlining data flows and the movement of money, from sourcing and purchase order submission to invoice payment and reconciliation. Audit Targets. “They are now audit targets.” That burden can come in many forms.

Compliance 55

Compliance Invoicing Auditing Accounts Payable 55

Spreadym

JULY 10, 2023

Here are the typical steps involved in the financial close process: Pre-Close Activities: This phase involves preliminary activities to prepare for the close process, such as reviewing account reconciliations, ensuring the completeness of transactions, and resolving any outstanding issues or discrepancies.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Reconciliations Accounts Payable General Ledger 52

Centage

SEPTEMBER 6, 2022

Excel does not have audit trail capabilities, so it is difficult to prevent fraud as numbers, and other financial data can easily be changed by any user. Without separation of duties or an audit that can track who has had access to the data, fraud can occur.

Securities 98

Securities Cash Flow Forecasting Budgeting Forecasting 98

Centage

SEPTEMBER 6, 2022

Excel does not have audit trail capabilities, so it is difficult to prevent fraud as numbers, and other financial data can easily be changed by any user. Bank reconciliation: Because employees can quickly modify or change numbers, you may run into false reconciliations.

Securities 52

Securities Cash Flow Forecasting Budgeting Forecasting 52

The Charity CFO

APRIL 25, 2024

The easier it is to dive into transactions, the easier it will be to report on where the money is coming from, where it’s going, and to audit what’s happening. QuickBooks Online QuickBooks Online is simply a database for all of your accounting data. Let’s take a deeper look. Sure, other software solutions do something similar.

Nonprofit 52

Nonprofit Accounting CFO Auditing 52

PYMNTS

JUNE 22, 2017

Even with the rise in eInvoicing and electronic B2B payments, disconnects, miscommunication and erroneous transactions plague the accounts payable department. Finding where those errors are via manual auditing can be a headache, too. Even automating the data matching or reconciliation process can miss errors, Thompson noted.

Accounts Payable 48

Accounts Payable Invoicing Auditing Reconciliations 48

PYMNTS

FEBRUARY 13, 2018

As companies grow and go global, manually processing payments and accounts payable (AP) can be a hassle. Enter Tipalti , a global payables automation software company that includes all phases of the payments workflow in a cloud-based platform, which includes steps from supplier onboarding to cross-border payments and AP reporting.

Accounts Payable 41

Accounts Payable Invoicing B2B Startups 41

The Charity CFO

MARCH 2, 2022

You used to audit nonprofit organizations back in the day, similar to me, but while I was the CFO of a nonprofit, you were my auditor. Um, so that we can ensure we get through audits and then just kind of balancing all of those things together. And comparing things to the audit is always the first step that I take.

Nonprofit 98

Nonprofit Auditing Reconciliations Accounting 98

PYMNTS

JANUARY 26, 2018

and elsewhere, for instance, are guiding the evolution of the corporate accounting and close market, Feinstein noted. Open Banking could have a significant impact on [the] close process in that it will help automate reconciliations of cash accounts,” the executive explained. “In Open Banking initiatives in the EU, U.K.,

General Ledger 47

General Ledger Benchmarking Reconciliations Accounts Payable 47