Withum

APRIL 27, 2022

Accurate and timely financial statements are vital to making informed business decisions. Accounts receivable balances in the general ledger should be reconciled to the subsidiary ledger monthly. Fixed assets schedules should be reconciled to the general ledger at least annually. .

general ledger 119

general ledger audit auditor accounting and finance 119

TaxConnex

APRIL 28, 2022

The Minnesota Department of Revenue, for example, bids all a hearty welcome to its Audit Room and Virtual Room , billed as “a secure space online to exchange files and other information with Revenue.” And of course, save paper.

audit 174

audit auditor general ledger Minnesota 174

CPA Practice

DECEMBER 22, 2023

One of the primary ways companies can protect against cash misappropriation is through establishing proper oversight of employees who have access to bank information, record sales, accept and deposit cash receipts, reconcile bank accounts and enter/approve new vendors.

Expense Reimbursements 117

Expense Reimbursements payroll general ledger financial statements 117

Airbase

FEBRUARY 23, 2023

P2P software supports AP processes by automating procurement activities and capturing relevant financial information What should I look for in a P2P solution? Close the loop: Once the payment has been made, the P2P process is closed and the transaction is booked in the general ledger.

Approval Workflows 130

Approval Workflows Technology general ledger AP Processes 130

TaxConnex

APRIL 4, 2023

You can expect to have to provide copies of your filed returns and supporting data (including sales journal, exemption certificates and general ledger data supporting the returns). Presenting your information is a balance. Guard what you say and what information you offer. Never forget: Auditors are not your advocates.

audit 130

audit Sales auditor Tax 130

Cherry Bekaert

OCTOBER 5, 2023

2) While many accounting solutions offer basic features for managing finances such as reports, accounts receivable, accounts payable, general ledger and billing etc., noticed a positive increase in employee accountability and a sizeable enhancement of the value of their customer information. Upon implementation, Visix Inc.

Real Estate 115

Real Estate Account accountant accounted 115

xendoo

JUNE 11, 2022

The actual entries you record in your general ledger differ from business to business. The $1,000 is accounts payable, and you record it in your general ledger by crediting $1,000 on the supplier’s X account. Accounts receivable is an asset account on the general ledger and balance sheet.

accounts payable 71

accounts payable Account accountant accounted 71

Withum

JULY 20, 2023

IDs with leading zeros can cause errors when you import information into your company from Excel because Excel removes the leading zero. You must tag a unique GL (General Ledger) liability account, a unique Vendor, and a default location. It will make the credit card reconciliation page entry and post it to the general ledger.

accounts payable 52

accounts payable general ledger Account accountant 52

Withum

JUNE 16, 2022

Outlier Detection for General Ledger. Once your bank or credit card transactions are imported you can easily record them into the general ledger and reconcile your accounts. No longer will anyone have to manually enter all the detail information from each bill.

general ledger 59

general ledger Accounts Payable Automation Approval Workflows accounts payable 59

Cherry Bekaert

JUNE 19, 2023

While the institution had a significant amount of valuable data, some of the data sets were housed in different systems with each system capturing the same information but in different ways. Once the data was normalized, the information was then pulled into a cost model utilizing the Pilbara Insights software.

Education 52

Education general ledger Technology Finance 52

ThomsonReuters

JULY 6, 2023

Data integration: Tax provision calculations require data from multiple sources , such as financial systems, general ledgers, payroll systems, and tax forms. Where to find more information on tax provision APIs To gain a better understanding of how APIs can be used, it is important to find reliable information on the topic.

Tax 92

Tax general ledger corporation tax audit 92

Withum

FEBRUARY 6, 2023

Quality of Tax Data ; general improvements to enhance the reliability of information and timeliness of closing out accounting periods. Increase data access, transparency, and internal visibility , especially with sales tax audits by providing physical location record information with audit trails.

tax preparation 78

tax preparation business tax Tax general ledger 78

xendoo

FEBRUARY 25, 2022

Frequently, accounting software will allow you to upload support for any transactions recorded in your general ledger. If your company has inventory, you will need to account for it in your general ledger. There could have been inventory stolen or sales may not have been recorded in the ledger properly.

Account 111

Account accountant accounted general ledger 111

CPA Practice

MARCH 4, 2024

Elevating the importance of the auditor’s role with AI For auditors, the use of AI creates an exciting opportunity as they can more readily gain access to the data they need, thereby enabling them to shift a larger percentage of their energy and time to exercising professional judgment and using their experience to analyze and examine information.

auditor 69

auditor audit general ledger Technology 69

Cherry Bekaert

FEBRUARY 26, 2024

With our help, your business can streamline accounting processes, increase productivity and make informed decisions based on reliable financial information. Reputable outsourced accounting firms prioritize data security and the protection of sensitive financial information. Q: What are outsourced accounting services?

Account 81

Account accountant accounted accounting and finance 81

Withum

JANUARY 24, 2023

Auditors can only work as quickly as the requested information is provided. Author: Michael Tiplady , CPA | mtiplady@withum.com Contact Us For more information on this topic, please contact a member of Withum’s Consumer Products Services Team.

audit 69

audit auditor general ledger cpa firm 69

Airbase

JUNE 12, 2023

I like to say that all roads lead to the general ledger. If it takes a couple of weeks to finish the month-end close, for example, there is a problem with the systems and the processes that provide the necessary information. That’s all part of a growing awareness of the cross-functional nature of the role. “I

Technology 130

Technology general ledger Spend Management Spend Management System 130

Xero

AUGUST 29, 2023

While there is technically an audit trail when the review and approval expenses take place via email, getting access to these sources of information can be a completely different story. Managing and Auditing Expense Approvals Expense approvals are often managed offline, through email, or possibly even through Slack or Teams.

Approval Workflows 86

Approval Workflows general ledger Expense Management audit 86

Withum

OCTOBER 23, 2023

The end result of the inventory count process is to confirm the inventory on hand and reconcile the inventory sub-ledger to the inventory accounts on the general ledger for your audit.

NetSuite 75

NetSuite audit general ledger accounting and finance 75

Cherry Bekaert

MARCH 4, 2024

The outcome of the implementation process was not only a new general ledger system with a fully integrated consolidation for our multiple entities, but also improvements in our reporting granularity and timelines,” – Hugh Merryweather, Stravos CFO. One of my favorite aspects about Sage Intacct is its flexibility and scalability.

general ledger 52

general ledger Education Technology accounting and finance 52

Withum

DECEMBER 7, 2023

The hospitality industry is a prime target for fraudsters due to the high volume of transactions and personally identifiable information (PII). Contact Us For more information on this topic, please contact a member of Withum’s Hospitality Services Team.

forensic accounting 52

forensic accounting Hospitality Account accountant 52

Airbase

FEBRUARY 23, 2023

With so much contradictory information, agility is key. Deep native integrations between spend management and, say, your general ledger make both systems more efficient and accurate, and with better data. Becoming recession-ready. So, what’s a finance professional to do?

Spend Management 147

Spend Management Technology Modern Spend Management general ledger 147

Xero

JUNE 15, 2022

EzzyBills was co-founded by Michael and Li Fitzmaurice in 2014 in Australia, after Michael had been creating tools supporting older, legacy accounting software to keep inventory and sales information up-to-date. As each document is scanned by EzzyBills the key information is extracted and exported to Xero. Extracting the data.

general ledger 96

general ledger Technology accounting software accounts payable 96

Withum

NOVEMBER 22, 2023

In the first year of operations, the developer must work with the managing agent to combine the construction period activity with the operational transactions recorded by the managing agent in order to generate a complete set of general ledger accounts. Real Estate Real estate costs include acquisition and construction costs.

Real Estate 52

Real Estate Construction general ledger Account 52

PYMNTS

AUGUST 12, 2020

Palette allows these firms to ingest invoice information from suppliers in an expedient fashion, handle invoices with an automated process for approvals, and provides a trail that auditors can examine. As a result, administrators and approvers have a faster way to take care of problems.

AP Automation 69

AP Automation Construction Technology accounts payable 69

CPA Practice

AUGUST 3, 2023

The new rapid implementation offering saves valuable time and resources getting started while enabling businesses to gain agility, make better-informed decisions sooner, and reduce risk with less effort. BlackLine also offers dedicated support during the customer’s first two closes, which goes a long way to ensuring customer success.”

general ledger 52

general ledger accounting and finance accounting software Healthcare 52

Accounting Seed

MAY 15, 2023

Salesforce-native accounting eliminates errors and processing time Of all the features in Accounting Seed, CRMIT believes the most impactful one for their business is Multi-Ledger/Multi-Company. This allows CRMIT to use the same General Ledger accounts for all the regions they operate in and generate consolidated statements easily.

Technology 98

Technology Account accountant accounted 98

Withum

APRIL 2, 2021

Put visible signs at the sale terminals so that the customers are informed of this policy. Record payments in the General Ledger. Have a policy which states that a customer will receive say $5 if the cashier fails to provide the receipt. Require receipts for refunds for cash. OWNER/ STORE MANAGER. Have the store mystery shopped.

Retail 94

Retail general ledger accounts payable payroll 94

Cherry Bekaert

APRIL 5, 2023

These QREs typically fall into four categories: Sample Credits by Industry Cherry Bekaert Process Scoping the R&D Credit Gather relevant information. Collect electronically available financial information. Performing the R&D Credit Study Accumulate financial / cost accounting information. Identify QREs.

Tax 75

Tax payroll tax general ledger payroll 75

ThomsonReuters

JULY 8, 2021

Data analytics that informs business decisions and delivers strategic value are a top priority for finance departments , and tax reporting functions can make a big contribution to this effort because they produce and capture vast amounts of company data down to the transaction level. Support comprehensive audit trails.

Technology 98

Technology accounting and finance general ledger accounting principles 98

inDinero Accounting

DECEMBER 13, 2021

Secure Storage : If your customers are trusting you with their personal information, you owe it to them to keep it secure. NetSuite ERP simplifies accounting by helping businesses manage and centralize core processes, eliminating duplicate data entry, automating business tasks, and providing real-time access to critical information.

NetSuite 104

NetSuite accounting software quickbooks Account 104

CPA Practice

FEBRUARY 9, 2024

Tankersley, CPA.CITP, CGMA 00:45 Okay, so Accu Matica is a entry level mid market prep application, which means that when you graduated from QuickBooks, and the basic general ledger type applications, and you need to get something to help you manage your business, and to, to go in and handle your handle your more complex needs.

Technology 64

Technology Account accountant accounted 64

Xero

MAY 17, 2023

While new reports look and behave differently, you’ll be able to see if there’s any information you’re missing or a setting that needs tweaking. For example: you ‘sort by account code’ in old reports, whereas in new reports (like the General Ledger Detail report) you ‘group or summarise by account code & name’.

general ledger 101

general ledger Start-ups Education Account 101

Cherry Bekaert

APRIL 4, 2023

Take the time to reconcile your quarterly 941s back to the general ledger in advance, or take the opportunity to delegate to a junior staff for training opportunities. For example, you may be able to determine which contracts on Schedule I are physically complete, and therefore, should also be included on Schedule O.

general ledger 40

general ledger auditor audit financial statements 40

PYMNTS

NOVEMBER 2, 2018

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.

quickbooks 62

quickbooks payroll general ledger accounts payable 62

Shay CPA

DECEMBER 7, 2022

PPP, ERC, EIDL), you could receive a notice to provide certain information long after you’ve closed your figurative doors. Store all of this information somewhere secure and easy to access. This final return informs them that your business is closing. General ledgers. File a final corporate tax return.

tax accountant 59

tax accountant Tax tax return Account 59

FraudFiles

JANUARY 13, 2022

Access to detailed accounting records, including the general ledger, general journal, sales journal purchases journal, cash receipts journal, cash disbursements journal, and subsidiary ledgers. Copies of all brokerage account statements for the last 3 years.

general ledger 52

general ledger income tax tax return financial statements 52