Sample Chart of Accounts in SaaS

The SaaS CFO

Chart of Accounts General LedgerSample Chart of Accounts for SaaS I’ve received quite a few requests about a sample chart of accounts for SaaS, so let’s address a super critical component of your accounting. Not a “fun” topic per se, but you need to understand the concept behind your chart of accounts and implement the correct structure if you […]. The post Sample Chart of Accounts in SaaS appeared first on The SaaS CFO.

Not Your Mother’s Chart of Accounts: Modern Day Accounting Made Easy

https://trustedcfosolutions.com/feed/

How do you dramatically improve reporting and gain visibility into your financial data while reducing your General Ledger accounts by more than 90%?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Multi-Location Restaurants And Franchises – The Best Cloud Accounting Solution

https://trustedcfosolutions.com/feed/

With a multi-dimensional general ledger, Sage Intacct enables restaurants to streamline their chart of accounts and get richer, deeper detailed information faster than ever before – all at the push of a button.

How Complex Are Your Business Finances?

https://trustedcfosolutions.com/feed/

Use dimension values to capture your business transactions, operational measures, and budgets in General Ledger. No two businesses are exactly alike. Every business has unique financial needs. Suppose your company finances are complicated and include multiple entities or locations.

IFRS 72

Grow Your Restaurant Chain With The Right Accounting Solution

https://trustedcfosolutions.com/feed/

Sage Intacct provides a sophisticated multi-dimensional general ledger. Owning a restaurant chain or several restaurant franchises can be challenging when it comes to accounting and being able to consolidate all your reporting and records.

How do I clean up my financial statements?

CFO Share

Too many general ledger (GL) accounts. Too many general ledger accounts. That can lead to “GL diarrhea”: too many ledgers, multi-page P&Ls, and unusable financial statements. Do your profits and cash flows make no sense?

Crowe Launches Cash Management Solution For Hospitals

PYMNTS

Crowe is addressing this friction with the rollout of its Crowe Automated Reconciliation for Healthcare tool, providing hospitals a three-way match solution between their general ledgers, patient accounting systems and banking providers. “While a number of reconciliation solutions have been created for hospitals, until now, none of them combined the general ledger, patient accounting system and bank account,” he said.

Par Value Stock vs. No-Par Value Stock

CFO News Room

The accounting treatment for the sale of par value stock and no-par value stock is fairly similar, though the transactions use different general ledger accounts. Par Value Stock vs. No-Par Value Stock: An Overview. A share of stock in a company may have a par value or no-par value.

Asked And Answered – Restaurant Chain Accounting Challenges

https://trustedcfosolutions.com/feed/

It features a role-based dashboard, a multi-dimensional general ledger that enables restaurants to streamline their chart of accounts and get richer information faster, giving you visibility across and into multiple entities, locations, and brands at the touch of a button.

Nonprofit Audit Checklist (+ Free PDF Download)

The Charity CFO

A financial statement audit is a thorough review of your financial statements to determine if your financial statements present fairly, in all material respects, in accordance with generally accepted accounting principles.

How to Calculate Your Profitability: A Case Study

CFO Simplified

Manufacturing variances were caused by a variety of factors, but the summary general ledger (GL) postings didn’t provide an answer. . As Iowa State University reminds us, “profitability is the primary goal of all business ventures.”.

How to build a good finance team and why it’s important

CFO Talks

An effective financial team should be able to build frameworks to create “data lakes” for general ledger information, inventory, HR information, sales data and external information. With automation and AI affecting every aspect of business, the role of a CFO’s team is changing.

CFO 52

Finance functions aim for a touchless close

Future CFO

Finance has also invested heavily in technology to reduce time to close, with three technologies deployed by more than half of functions already: general ledger technology, a financial close solution, or workflow automation, Gartner said.

CFO 52

Comptroller vs. Controller: What Is the Difference?

Michigan CFO

Some of their general responsibilities are highlighted below. By keeping accurate records of financial transactions with a general ledger, comptrollers and controllers can monitor cash flow and manage finances effectively. A chart of accounts is an index in a company’s general ledger that gives you a simple breakdown of all transactions carried out within a specific time.

CFO 40

TravelBank, U.S. Bank Team On Virtual Cards, Expense Management

PYMNTS

Companies will have easy access to real-time reporting, expense capture, policy management and approvals, general ledger sync and analytics, improving on old ways that could be more cumbersome, according to the release. TravelBank will work with U.S.

Palette Unveils AP Automation Software For Construction Firms

PYMNTS

In addition, project managers don’t need to find certain projects by general ledger (GL) account code numbers; instead, they can locate them by name.

Your Ultimate Finance Department Checklist

CFO Simplified

They review bank and credit card monthly reconciliations to assure accuracy and they review general ledger postings for the month—identifying any anomalies that might have crept in and writing up adjusting journal entries for bookkeepers to enter.

Closing The Books Is Now A Lesson In Corporate FinTech Innovation

PYMNTS

The core of the close process remains the same: corroborate the numbers in the general ledger,” explained Feinstein. In most cases these days, accountants must log into their financial institution’s online banking portal to download the latest transactions into a spreadsheet, then either import into their general ledger application or reconcile manually using Excel.”.

Finance Teams: Stop Wasting Time on Manual Account Reconciliation & Automate

The Finance Weekly

Account reconciliation is the matching and validating of balances in the general ledger (GL) to internal and external sources or other independent calculations to accurately close month-ends and year-ends.

Rethinking Management Reporting

FPA Insider

It integrates with any CRM, ERP, General Ledger, or other transactional system of choice. According to Deloitte , management reporting is the foundation for monitoring performance, tracking against plans and making strategic business decisions.

5 Accounting Challenges Startups Face and How to Help Them Thrive

The CFO College

As an accounting professional, you need to set up many processes for efficient data tracking, including: Month-end tie-out system to close out balance sheets, reconcile general ledger accounts, with full tick marks. Startups tend to operate on shaky ground.

CFO 71

50 Shades of FP&A Maturity

Fpanda Club

Recent technological advancements and constant changes in the business environment enable the finance function in general and FP&A teams in particular to adopt new ways of work, new practices, new tools to meet the needs of their internal and external customers.

Dealing with Obsolete Inventory

CFO Simplified

Reconcile the general ledger balances from the start of the year. For manufacturers, retailers, or wholesale distributors, inventory is likely the largest item on their balance sheet. A particular problem that often rears its ugly head is the issue of obsolete inventory.

CFO 52

Keep Proprietary Processes Secret

CFO Simplified

The general ledger layout is generic in nature. Companies create products or develop services to deliver to their clients. Many find a unique approach that gives them an advantage over their competition.

CFO 52

The Basics of Nonprofit Bookkeeping

The Charity CFO

Nonprofits must maintain thorough and accurate financial records to comply with both Generally Accepted Accounting Principles ( GAAP ) and maintain their tax-exempt status with the IRS. Execute data entry to keep the general ledger current .

Balance Sheet vs. Profit and Loss Statement (P&L)

CFO News Room

The trial balance provides financial information at the account level, such as general ledger accounts, and is therefore more granular. The balance sheet and the profit and loss (P&L) statement are two of the three financial statements companies issue regularly.

Today’s Business Budgeting; Can Your Spreadsheet Software Keep Up

Centage

Accounting has evolved quite a bit since the early days of double-entry systems and general ledgers.

Alteryx for Accounting: The Future of the Finance Organization

Embark With Us

Put another way, with Alteryx involved, information from disparate data sources can flow into your chart of accounts or general ledger without the manual heavy-lifting that's traditionally plagued accounting functions. An abacus works great as long as you're counting bushels of wheat.

ADP Enhances QuickBooks Payroll Integration

PYMNTS

An expansion of its existing integration will introduce enhanced General Ledger Interface mapping via Accountant Connect, allowing accountants to seamlessly link into and interface with QuickBooks and other accounting platforms to manage their small business (SMB) clients’ finances. Payroll technology firm ADP is strengthening its integration into Intuit ‘s QuickBooks platform, the company said Thursday (Nov.

The Upgrade Challenge

CFO Simplified

General Ledger Dimensions – ERP systems allow true slicing and dicing of information gathered. Making the right decisions is critical to any business’ success. Information comes from experienced staff and data gathered from operations.

CFO 52

OneStream Launches Automated Account Reconciliation

PYMNTS

The program can be used for everything from intercompany transactions, accounts payable and receivable, travel and entertainment (T&E) reporting, bank clearing and lockbox to general ledger cash accounts.

Strategic Budgeting and Forecasting: Five Questions to Consider

Centage

All relevant fields, accounts and ledgers are updated, tying all data into the same cloud-based, centralized database, ensuring everyone sees the same financial data, or whichever portion of the data they need to see.

Tipalti Bolsters Accounts Payable Platform With AI-Powered Pi

PYMNTS

The technology works in the background to provide correct approval routing and general ledger (GL) coding at the bill as well as bill line level.

Deferred Revenue in SaaS

CFO Plans

There are multiple software plugins available for general ledger systems (and most ERP systems have it embedded) to handle deferred revenue properly. By Fizal Meera, Associate Controller – CFO Plans.

You Don’t Need Microsoft Power BI with Sage Intacct’s Interactive Visual Explorer

https://trustedcfosolutions.com/feed/

Intelligent General Ledger. Does the world need another acronym? AI, ML, BI – Who cares? The world is changing. And that’s not all. link]. As the CFO, there’s always some shiny new toy being pitched by the, wait for it – CRO, CTO, CMO & PM.