One of the most significant challenges of Accounts Payable (AP) is encountering fraud. AP fraud could be damaging to the business. These incidents can happen in both external and internal environments of the organization. AutoReconcile gives an overview of classic methods of identifying fraud and how to prevent it. Having a basic knowledge of AP fraud can help protect the business' financial loss. Identifying Suspicious Fraud Incidents 1. Increasing...
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Admit it. Accounts reconciliation is one of the most problematic as many CFOs admit that it slows down the closing process. AutoReconcile finds the best and effective ways to enhance reconciliation to improve workflow. Some accountants are lucky enough to survive despite the fact that the manual process causes high chances of human error. Some accountants count on Excel spreadsheets but it has a lot of restrictions....
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Most businesses are working on tight margins. Organisations never stop making their business profitable. And they find ways to cut costs, at the same time. However, business owners want the quality of product and service as well as the people to remain. One of the great ideas to save money for business is making the workflow automated. Here are five hacks to improve your workflow and...
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Time management is easy to say, but difficult to implement. Exploring best practices in time management with AutoReconcile helps the finance team focus on goals effectively. One of the most significant challenges of the finance team is implementing time management among its members. They have to work more hours to avoid penalties such as paying bills on time and deliver great results. Because of this, most of...
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