Business leaders have moved on from discussing whether or not software solutions and business applications can change how business is done; now, they’re focused on what SaaS platforms can fulfill their organization’s needs. For accounting and finance professionals, accounting software is paramount, but when it comes to accounting software, there are right and wrong choices. Xero is one of the best out there. Any organization that’s on a digital transformation journey will realize at some point that even the best software platforms and SaaS solutions aren’t meant to work in isolation. In this ..read more

Introduction Accuracy and efficiency are non-negotiable in the processing of payments in any company, be they payments received by the company for products/services rendered, or made to vendors for products/services received. Payment reconciliation is the process of verifying all payment transactions. It involves comparing transaction records from various sources, such as invoices, bank statements, and payment receipts, to identify discrepancies and errors.  As enterprises expand and transaction volumes escalate, the manual execution of payment reconciliation becomes increasingly laborio ..read more

Many small businesses need help managing their finances because bookkeeping is manual. Fortunately, accounting software can automate many of the tasks related to financial management.  The most popular are Oracle NetSuite (formerly NetSuite Accounting) and QuickBooks (formerly QuickBooks Accounting). These software solutions can save you time and money by automating many bookkeeping tasks. However, the two have some critical differences regarding features and price.  Let's examine both options to help you decide which is correct.  Oracle NetSuite: At a ..read more

A Guide to NetSuite Account Reconciliation Accurate financial records are an important part of any business’ ability to make informed decisions and also adhere to legal regulations. Account reconciliation is a part of this process, helping businesses compare financial data across various sources to identify discrepancies and ensure accuracy.  In this guide, we'll explore how NetSuite, a leading cloud-based ERP solution, streamlines account reconciliation processes, enhances efficiency, and improves financial visibility. What Is Account Reconciliation?  Account reconciliation is the ..read more

Business owners increasingly leverage single-source platforms like QuickBooks for various financial and business processes, including basic accounting, time tracking, payroll, and more.  QuickBooks offers a range of ways to receive payments, from simple (direct invoicing) to complex (like manual entries and physical card swipes) payments. For those looking to nest their payment processing workflow into their broader accounting landscape, QuickBooks likely has what you need – and, if not, third-party integrations serve to fill the gaps and customize your experience. What Payment Features ..read more

Sometimes, basic business processes can be way more time-consuming than business leaders realize. Invoicing, for instance, is something that every single accounting team has to learn how to manage. At its core, invoicing seems simple: a vendor provides goods or services, details the items provided, and sends a bill to the customer (AKA an invoice). The customer then invoice receives the invoice, verifies its accuracy, and submits payment to the vendor.  Simple, right? It may seem that way, but in reality, 66% of businesses say that they spend more than five days per month processing invo ..read more

NetSuite is one of the popular ERPs, which divisions across businesses and industries can use to operate smoothly and efficiently.  NetSuite's key strengths lie in its integration capabilities and modules that extend its functionality. NetSuite connects with third-party applications and has broad functionality to cover most general use cases. The integrations are helpful to bring your other business tools into the mix with NetSuite, work over. In this blog, we will see how NetSuite's functionality can be extended internally, bringing external software into play with integrations. We will ..read more

NetSuite is one of the popular ERPs, which divisions across businesses and industries can use to operate smoothly and efficiently.  NetSuite's key strengths lie in its integration capabilities and modules that extend its functionality. NetSuite connects with third-party applications and has broad functionality to cover most general use cases. The integrations are helpful to bring your other business tools into the mix with NetSuite, work over. In this blog, we will see how NetSuite's functionality can be extended internally and bring external software into play with integrations. We will ..read more

Petty Cash Reconciliation: What is It, Best Practices, and Automation Petty cash, also referred to as a small cash fund, is a fixed amount of money reserved for minor expenses in a business. These expenses typically include small purchases like office supplies, travel expenses, or miscellaneous items that are too insignificant to warrant writing a check or initiating an electronic payment.  Despite its small denomination, petty cash plays a significant role in day-to-day operations, offering flexibility and convenience in handling minor expenses without the need for formal approval proce ..read more

QuickBooks is one of today's most popular generalized accounting and bookkeeping platforms that appeals to a wide range of business types, sectors, and sizes. Still, as with any off-the-shelf product, some find it lacking specific features or prefer to nest it into a broader business management ecosystem. For those wanting to do more with QuickBooks, hundreds of third-party integrations step in to offer additional features and benefits beyond QuickBooks' native offerings. Still, with as many integrations as are available, some may find themselves overwhelmed. If you're dipping your toes into ..read more