Numeric

“If we could perform more flux analysis every month, we’d love to. But it’s not a priority for us at the moment.” Unfortunately, flux analysis is often the caboose of the month-end close. And for many teams, it's a process that's often only done for a few key GL accounts and is relegated to the realm of nice-to-haves over need-to-haves. Yet, variance analysis remains one of the more consequential tasks an accounting team can conduct, producing the insights that fuel real business decisions and inform forecasting. With Numeric’s Flux Analysis tool, teams don’t have to worry about rationing their time and services across the rest of the close. Teams can immediately identify accounts with material changes, drill-down into exact transactions that are driving the change, and leverage our AI flux writer spin up a neat, first-pass written analysis of account variance. With way more fluxes to give, your team now has a pathway to a more complete and comprehensive close each month. https://lnkd.in/e_7stpND

Accounting teams are excited about AI, but they often have the same set of concerns: 𝙄𝙨 𝙢𝙮 𝙙𝙖𝙩𝙖 𝙨𝙚𝙘𝙪𝙧𝙚? 𝘾𝙖𝙣 𝙄 𝙩𝙧𝙪𝙨𝙩 𝘼𝙄 𝙤𝙪𝙩𝙥𝙪𝙩𝙨? 𝙒𝙞𝙡𝙡 𝘼𝙄 𝙘𝙤𝙢𝙥𝙡𝙞𝙘𝙖𝙩𝙚 𝙖𝙪𝙙𝙞𝙩𝙨? Understanding the potential risks and having the right strategies in place can help your team stay excited about AI's possibilities while being appropriately cautious. Here's how responsible accounting teams mitigate these risks: 🔐 Ensure data security by asking providers directly how your data is used  🎖 Train your team on AI best practices 📝 Trust AI, but verify outputs – always double-check for accuracy 💬 Maintain an AI audit trail to support transparency in audits. By staying informed and proactive, your team can harness AI’s potential while managing its risks effectively. Learn more about how accountants can implement risk management frameworks to address the risks associated with AI. https://lnkd.in/gbiKY8cd

In the past month, we’ve hosted several dinners with accounting and finance leaders — providing a forum to get to know others tackling similar problems, build relationships, and enjoy some great food. The truth is— being a Controller or CFO can be isolating. You’re typically the only person in your role, have no direct peers to rely on, and have tight, high pressure deadlines to meet. That’s one of the many reasons we love bringing Controllers and CFOs across organizations together. Appreciate everyone who joined— and if you couldn’t make it, there’s certainly more coming in the future 😄

What Olympic sports would accountants perform best in? On the heels of the 2024 Summer Olympics, we’ve been mulling over this very important and consequential accounting question. Here's what some of our team members came up with: 🤸♂️ Balance Beam (Gymnastics) — Measuring a mere four inches in width, the balance beam demands the best in stability and grace. But after enough time reconciling balance sheets, we’re pretty confident that accountants would be masterful in keeping things even and upright. 🏊♂️ Synchronized Diving — In diving, the more left and right match up, the better. The same goes for account recs. That sound you just heard? An accountant just sighed — the GL & trial balance finally aligned. 🏹 Archery/Pistol — Anyone worried about accountants hitting bullseye obviously haven’t watched them pivot an Excel spreadsheet for two hours looking for one transaction. It’s a guaranteed gold medal in either of these precision-based pursuits. 🏃♂️ Hurdles — Accountants are used to seeing objects in their path ahead — they’re just called FP&A asks. Any categories we missed?

New customers, new features, new team members 📈 Numeric is growing fast. There's real momentum and we're actively hiring for a set of roles to help us enter the next chapter of growth. More on open roles here ➡ https://lnkd.in/gVTSbaKa

𝗖𝗵𝗮𝘁𝗚𝗣𝗧 𝗳𝗼𝗿 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗮𝗻𝘁𝘀 𝗧𝗶𝗽 #𝟭: 𝗣𝗿𝗶𝗺𝗲 𝗬𝗼𝘂𝗿 𝗣𝗿𝗼𝗺𝗽𝘁𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗕𝗲𝘀𝘁 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲𝘀 As an accountant, precision and clarity are key. When looking to ask ChatGPT a simple technical accounting question, you state: 𝘏𝘰𝘸 𝘥𝘰 𝘺𝘰𝘶 𝘤𝘢𝘱𝘪𝘵𝘢𝘭𝘪𝘻𝘦 𝘙&𝘋? It returns the following: “𝘙&𝘋” 𝘪𝘴 𝘵𝘺𝘱𝘪𝘤𝘢𝘭𝘭𝘺 𝘤𝘢𝘱𝘪𝘵𝘢𝘭𝘪𝘻𝘦𝘥 𝘪𝘯 𝘪𝘵𝘴 𝘢𝘣𝘣𝘳𝘦𝘷𝘪𝘢𝘵𝘦𝘥 𝘧𝘰𝘳𝘮 𝘣𝘦𝘤𝘢𝘶𝘴𝘦 𝘪𝘵 𝘴𝘵𝘢𝘯𝘥𝘴 𝘧𝘰𝘳 “𝘙𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘢𝘯𝘥 𝘋𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵,” 𝘸𝘩𝘪𝘤𝘩 𝘪𝘴 𝘢 𝘱𝘳𝘰𝘱𝘦𝘳 𝘯𝘰𝘶𝘯 𝘳𝘦𝘧𝘦𝘳𝘳𝘪𝘯𝘨 𝘵𝘰 𝘢 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤 𝘧𝘪𝘦𝘭𝘥 𝘰𝘳 𝘥𝘦𝘱𝘢𝘳𝘵𝘮𝘦𝘯𝘵. 𝘐𝘯 𝘧𝘰𝘳𝘮𝘢𝘭 𝘸𝘳𝘪𝘵𝘪𝘯𝘨, 𝘺𝘰𝘶 𝘸𝘰𝘶𝘭𝘥 𝘤𝘢𝘱𝘪𝘵𝘢𝘭𝘪𝘻𝘦 𝘣𝘰𝘵𝘩 𝘭𝘦𝘵𝘵𝘦𝘳𝘴: “𝘙&𝘋.” 𝘐𝘧 𝘺𝘰𝘶’𝘳𝘦 𝘸𝘳𝘪𝘵𝘪𝘯𝘨 𝘰𝘶𝘵 𝘵𝘩𝘦 𝘧𝘶𝘭𝘭 𝘵𝘦𝘳𝘮, 𝘺𝘰𝘶 𝘸𝘰𝘶𝘭𝘥 𝘤𝘢𝘱𝘪𝘵𝘢𝘭𝘪𝘻𝘦 “𝘙𝘦𝘴𝘦𝘢𝘳𝘤𝘩 𝘢𝘯𝘥 𝘋𝘦𝘷𝘦𝘭𝘰𝘱𝘮𝘦𝘯𝘵” 𝘪𝘧 𝘪𝘵’𝘴 𝘱𝘢𝘳𝘵 𝘰𝘧 𝘢 𝘵𝘪𝘵𝘭𝘦 𝘰𝘳 𝘢 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤 𝘥𝘦𝘱𝘢𝘳𝘵𝘮𝘦𝘯𝘵 𝘯𝘢𝘮𝘦, 𝘣𝘶𝘵 𝘯𝘰𝘵 𝘯𝘦𝘤𝘦𝘴𝘴𝘢𝘳𝘪𝘭𝘺 𝘪𝘧 𝘪𝘵’𝘴 𝘶𝘴𝘦𝘥 𝘨𝘦𝘯𝘦𝘳𝘪𝘤𝘢𝘭𝘭𝘺 𝘪𝘯 𝘵𝘩𝘦 𝘵𝘦𝘹𝘵. Well, clearly ChatGPT missed the mark. But could the prompt have been more targeted? Absolutely. Advanced AI users enhance interactions with a technique called priming—adding context to receive a more precise response. Effective prompts inform ChatGPT of the role it should adopt, the tone to use, and the output to produce. A refined prompt of the initial question might look like this: 𝘠𝘰𝘶 𝘢𝘳𝘦 𝘢𝘯 𝘦𝘹𝘱𝘦𝘳𝘵 𝘢𝘤𝘤𝘰𝘶𝘯𝘵𝘢𝘯𝘵 𝘸𝘪𝘵𝘩 𝘰𝘷𝘦𝘳 20+ 𝘺𝘦𝘢𝘳𝘴 𝘰𝘧 𝘦𝘹𝘱𝘦𝘳𝘪𝘦𝘯𝘤𝘦 𝘪𝘯 𝘵𝘩𝘦 𝘧𝘪𝘦𝘭𝘥. 𝘠𝘰𝘶 𝘢𝘳𝘦 𝘢𝘭𝘴𝘰 𝘸𝘦𝘭𝘭-𝘳𝘦𝘨𝘢𝘳𝘥𝘦𝘥 𝘧𝘰𝘳 𝘺𝘰𝘶𝘳 𝘢𝘣𝘪𝘭𝘪𝘵𝘺 𝘵𝘰 𝘨𝘳𝘢𝘴𝘱 𝘢𝘯𝘥 𝘤𝘰𝘯𝘷𝘦𝘺 𝘤𝘰𝘮𝘱𝘭𝘦𝘹 𝘵𝘦𝘤𝘩𝘯𝘪𝘤𝘢𝘭 𝘢𝘤𝘤𝘰𝘶𝘯𝘵𝘪𝘯𝘨 𝘤𝘰𝘯𝘤𝘦𝘱𝘵𝘴. 𝘠𝘰𝘶 𝘱𝘳𝘪𝘥𝘦 𝘺𝘰𝘶𝘳𝘴𝘦𝘭𝘧 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘴𝘶𝘤𝘤𝘪𝘯𝘤𝘵 𝘢𝘯𝘥 𝘵𝘰-𝘵𝘩𝘦-𝘱𝘰𝘪𝘯𝘵 𝘸𝘳𝘪𝘵𝘪𝘯𝘨 𝘴𝘵𝘺𝘭𝘦. 𝘠𝘰𝘶𝘳 𝘧𝘪𝘳𝘴𝘵 𝘵𝘢𝘴𝘬 𝘪𝘴 𝘵𝘰 𝘢𝘯𝘴𝘸𝘦𝘳 𝘵𝘩𝘪𝘴 𝘲𝘶𝘦𝘴𝘵𝘪𝘰𝘯: “𝘏𝘰𝘸 𝘥𝘰 𝘺𝘰𝘶 𝘤𝘢𝘱𝘪𝘵𝘢𝘭𝘪𝘻𝘦 𝘙&𝘋?” See the difference? For more tips on transforming AI into your accounting ally, explore our guide on the best ChatGPT tips & prompts for accountants https://lnkd.in/dy6jCB7H Or skip the need for priming altogether with Numeric's Technical Accounting AI: https://lnkd.in/ebWfjZ7H

𝘽𝙚𝙨𝙩 = Every account always ties out at month-end 𝘽𝙚𝙩𝙩𝙚𝙧 = Accounts don't always tie out, but it's easy to figure out why 𝙍𝙚𝙖𝙡𝙞𝙩𝙮 = Accounts don't tie out and you have to painstakingly find the needle-in-a-haystack transaction causing the discrepancy Having Numeric’s transaction-line details synced straight from your NetSuite cuts down on this discovery work. Instead of having to cycle between subledgers, NetSuite, and any other places to find out what’s resulting in account discrepancies, Numeric’s live sync of every transaction-line enables you to click into an account, pivot transaction data directly by vendor or department, & pinpoint the oddball transaction then and there. That also means that when an account is reconciled and then a transaction hits the GL that breaks the recon, we’ll point you to exactly what resulted in the account no longer reconciling. 

Audit panic is a real thing. Especially for newer Controllers or accounting teams diving headfirst into their initial audit. So we're bringing in the audit pros with Mark C. at Riveron & presenting a survival guide to the financial audit. We'll cover: 1. Best practices and common challenges from working with hundreds of clients on audit-readiness 2. Tips on effectively engaging with auditors 3. Laying the foundation of an "audit-ready culture" 4. Documentation must-haves & tactics on audit-organization Register here ➡ https://lnkd.in/g8Eb8gp8

We know the feeling. And this meme actually gives some valuable insight into how accounting teams function as well. Accounting teams that run very manual month-end closes or struggle to close in a timely manner aren’t lazy. And they’re not oblivious to the need for improvement either. In fact, they’ve probably already tried some fixes — new software, changes in team duties, or as this meme suggests, attempts at automating existing workflows. But if implementation is a mess, teams end up right back at square one. Despite their best intentions, they decide to stick to the status quo — again, not because they want to but because they encounter too much friction trying to make their work easier. Because these first impressions matter so much, we’ve worked to make the Numeric onboarding experience as seamless as possible. Syncing your ERP data, transferring over your month-end checklist, and setting up monitors and reports are all tasks that we directly help with. That way, when you first use Numeric, your team can hit the ground running. Check out our [success story](https://lnkd.in/gPYeatZc) with Public.com to see how Numeric’s onboarding ease & close automation are propelling teams to 2+ BD close savings.