In today's fast-paced business environment, efficient management of accounts receivable (AR) and accounts payable (AP) is crucial for maintaining a healthy cash flow. Invoices are an essential part of this. Invoice creation and Invoice processing are critical steps in these processes. NetSuite's robust invoice management system offers a powerful solution to automate and streamline the invoicing process, boosting efficiency and improving your bottom line. This comprehensive guide dives deep into the capabilities of NetSuite for both AR and AP, empowering you to take control of your financial o ..read more

Introduction to Bank Reconciliation Journal Entries Bank reconciliation is an important process in accounting that ensures the accuracy and integrity of a company's financial records. It involves the comparison between the company’s internal financial records and those of the bank. At the heart of this reconciliation lies the creation of journal entries, which serve to align discrepancies between the company's books and the bank statement. Understanding the intricacies of bank reconciliation journal entries is essential for finance professionals and business owners alike, as it empowers them ..read more

QuickBooks is one of today’s top accounting and bookkeeping platforms, and its reputation is well-deserved. Dominant across multiple industries and popular with most business sizes, from freelance solopreneurs to enterprise megaliths, QuickBooks covers most common accounting bases and is a well-rounded, general-purpose tool that legions of clients and fans enjoy.   However, though QuickBooks enjoys name recognition and scores of fans, it isn’t suitable for everyone. Whether budget, feature preferences, or other factors are priorities, sometimes smaller competitors better suit busine ..read more

Invoices are a time-consuming hassle but a part of every business. Sage Intacct makes the entire process simple. It creates professional invoices for your accounts receivables and helps process invoices as part of your accounts payables. Sage Intacct has additional features to simplify both ends of invoices. With tracking and reporting, supporting recurring invoices, and recording payments, these extra features make Sage Intacct's capabilities one of the best. This blog will discuss how you can manage invoices in Sage Intacct, empowering you to conquer invoice creation and processing and ensu ..read more

Bank Reconciliation Vs. Book Reconciliation In accounting and financial management, we encounter the terms "Book Reconciliation" and "Bank Reconciliation". These terms are often used interchangeably, leading to ambiguity regarding their meanings. Book Reconciliation serves as the umbrella term, encompassing a broader spectrum of financial data matching that involves comparing the ledger entries with figures from other financial documents. Bank Reconciliation is a subset of Book Reconciliation, wherein the ledger figures are compared against the entries in a bank statement. This essay will des ..read more

The Importance of Accounts Reconciliation Companies handle a variety of finance-related documents, ranging from bank statements to invoices and payroll records. Amidst this deluge of numbers and figures lies a crucial task: account reconciliation. Without accurate reconciliation, discrepancies can slip through unnoticed, leading to financial inaccuracies, compliance issues, and potential for fraud. Understanding the account reconciliation process transcends mere financial housekeeping; it offers invaluable insights into the company’s financial health to all stakeholders, including finance man ..read more

Sage Intacct, a world-renowned ERP solution, is one of the top choices for businesses globally. Finance teams and many others use it to facilitate their operations. In today's fast-paced business environment, it's essential to streamline operations and maximize efficiency. This is especially true for the accounts payable (AP) department, which manages a company's financial obligations to suppliers. Improving the efficiency of the Accounts Payable (AP) process is a strategic initiative for businesses, as the complex and resource-intensive work is unsustainable, challenging to scale, and prone ..read more

What is Sage100 ERP? Sage 100 ERP (for enterprise resource planning) is a unified accounting system with modules for business process functionality throughout a company that combines into a single database. Sage 100 is used by companies of all sizes, although it targets companies with 10 to 199 employees.  The most recent Sage 100 software product is Sage 100cloud. Former branding for Sage 100 ERP includes MAS 90, MAS 200, Sage 100c, and Master Builder for Sage 100 Contractor.  Key features of Sage 100 ERP The key features of Sage 100 ERP are: Financials  Payroll and time track ..read more

ERP software, including Odoo ERP, is essential for business management because it unifies what would otherwise be siloed systems requiring duplicate manual data entry into a single database.  ERP software is designed with core accounting software and optional modules for business process functionality throughout your organization. With an ERP system, role-authorized team members and management can view the same data with real-time dashboards.  What is Odoo ERP? Odoo ERP is an open-source enterprise resource planning system, consisting of apps with a wide range of business process fun ..read more

As everyday tools and services become increasingly subscription-based, so too does our overall automation strategy when it comes to business management. But, just as keeping a subscription on automatic renewal without oversight can be a costly mistake, so too can mismanaging recurring ACH transactions. QuickBooks, one of the most popular accounting and bookkeeping platforms on the market, offers a fairly straightforward method of managing recurring ACH payments to help ensure no surprises come during reconciliation time. What are ACH Payments? Though usually just called ACH payments or ACH tr ..read more