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Rein in rogue spending by automating accounts payable

Future CFO

As businesses usher in a new year, the uncertain economic climate has dampened some of the enthusiasm that spurred the first months of the post-pandemic recovery. To curb rogue spending, businesses need to rethink how the accounts payable (AP) process can be improved.

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Deep Dive: How FI-FinTech Partnerships Power Businesses’ AP Cost Savings

PYMNTS

Large companies may receive thousands of monthly invoices that must be processed quickly and economically, and firms of all sizes need to track payment obligations and issue funds. The accounts payable (AP) automation market is expected to grow from $1.6 The accounts payable (AP) automation market is expected to grow from $1.6

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The best software for financial close and overview of the process

Spreadym

Deferrals, on the other hand, involve postponing the recognition of revenues or expenses to future accounting periods. Adjustments are made to ensure that financial statements reflect the economic reality of the period being closed. These entries correct errors, allocate costs, or reclassify transactions to the appropriate accounts.