AVA Insights’ Post

Fact: Migrating to a new accounting system doesn't have to be a stressful experience. 😅 We specialise in making the process seamless for small businesses. Say goodbye to stress and hello to a smooth transition of your financial data with our expert support.  Learn how we can help: https://lnkd.in/e_7quWBD  #DataMigration #SmallBusinessSupport #Accounting #SmallBusinessAccounting

In the world of business, the stakes are high, and the choices you make can be the difference between soaring to new heights and feeling grounded. With Paci by your side, you'll never have to second-guess your financial decisions again. Get seamless solutions that transform your financial management experience. 📈 Financial Insights Dashboard ⏰ Timely P&L, Balance Sheet, Cash Flow, and VAT reports 💰Receivable and Payments Management 💬Finance Concierge Messaging 🔔Regulation Notifications 📁AI-powered Document Uploader 📁 Ai - powered data categorisation 🔗Seamless Software Integration Ready to transform the way you handle your finances? Let's talk! #onlinebookkeepingservices, #onlineaccountingservices, #accountingservicesforsmallbusinesses, #accountingservicesuae, #softwareserviceplatform, #corporatataxregistration, #cloudaccounting, #taxcompliance, #financialplanning #paci

🚀 Launching a New Era in Financial Management: Cappitall Want Network’s 26AS Reconciliation Tool 🚀 Are delayed TDS reconciliations blocking your cash? Struggling with 26AS mismatches affecting your working capital? Does the disconnect between your accounting and compliance teams lead to unnecessary penalties and interest? 26AS reconciliation isn't just accounting; it's a crucial business and supply chain concern. Cappitall Want Network’s 26AS Reconciliation Tool is your key to unlocking these trapped resources. 📈 Beyond the Balance Sheet: Avoid temporary or permanent blockage of cash due to 26AS disparities. Our tool is designed to address master and transactional data errors, turning the classic 'garbage in, garbage out' scenario on its head. It's not just about what the CFO can do; it's about reducing manual follow-ups and accelerating your cash inflows. 🚀 Financial Liberation: Timely reconciliation means more than just good accounting. It's about optimizing your advance tax payments, claiming refunds effectively, and presenting accurate refund calculations. This isn't just about freeing up idle money; it's about actively boosting your cash flows. ⚖️ Continuous Audit - The Key to Compliance & Efficiency: Bridge the gap between accounting and compliance teams. Our tools offer continuous audit capabilities, crucial for avoiding penalties and interest due to compliance de-linkages. This isn't just about staying compliant; it's about optimizing your working capital. Explore how the tool can help you here - https://lnkd.in/g_XMxw2g Reach out to us for a personalised demo on how our 26AS Reconciliation tool can redefine your financial strategy. Ramesh Jayaraman, Sujith Embrandiri, Palanichamy E, Maruthu Pandiyan SP, Meenakshi Shivram, Rahul M Iyer, Rajesh Khater, Karthi Keyan B #CappitallWantNetwork #26ASReconciliation #WorkingCapitalOptimization #UnlockingCapital #UnleashingPotential

𝟐𝟎/𝟑𝟎: 𝐒𝐢𝐦𝐩𝐥𝐢𝐟𝐲𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐈𝐧𝐬𝐭𝐫𝐮𝐦𝐞𝐧𝐭𝐬 𝐂𝐥𝐚𝐬𝐬𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐌𝐞𝐚𝐬𝐮𝐫𝐞𝐦𝐞𝐧𝐭 Let’s break down a critical accounting standard that impacts how companies report their financial health: #IFRS9 - #FinancialInstrumentsClassificationAndMeasurement. This might sound complex, but I'll make it simple and clear. 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐈𝐅𝐑𝐒 𝟗? IFRS 9 is an international accounting standard that guides how companies classify and measure financial assets and liabilities. It ensures financial statements are transparent, relevant, and comparable. 𝐊𝐞𝐲 𝐂𝐨𝐧𝐜𝐞𝐩𝐭𝐬 𝐢𝐧 𝐈𝐅𝐑𝐒 𝟗 1️⃣ Financial Instruments: Contracts creating a financial asset for one entity and a financial liability or equity for another. 2️⃣ Classification: Grouping financial instruments into specific categories. 3️⃣ Measurement: Determining the value of financial instruments in financial statements. 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐬𝐬𝐞𝐭𝐬 – are classified based on: 1️⃣ Business Model: How the company manages its financial assets to generate cash flows. 2️⃣ Contractual Cash Flow Characteristics: The nature of the cash flows from the financial asset. 𝐂𝐚𝐭𝐞𝐠𝐨𝐫𝐢𝐞𝐬 𝐨𝐟 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐬𝐬𝐞𝐭𝐬 1️⃣ Amortized Cost: For assets held to collect contractual cash flows. E.g. a loan given to a customer expected to be paid back with interest. 2️⃣ Fair Value Through Other Comprehensive Income (FVOCI): For assets held to collect cash flows and for sale. E.g. bonds bought to earn interest but may be sold before maturity. 3️⃣ Fair Value Through Profit or Loss (FVTPL): For assets that don’t fit the above categories. E.g. shares in a tech startup held for quick profit. 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐢𝐞𝐬 – are classified based on: 1️⃣ Amortized Cost: For most liabilities unless designated at FVTPL. E.g. bonds issued by the company. 2️⃣ Fair Value Through Profit or Loss (FVTPL): For liabilities held for trading or designated at FVTPL. E.g. derivative liabilities. 𝐒𝐢𝐦𝐩𝐥𝐢𝐟𝐲𝐢𝐧𝐠 𝐌𝐞𝐚𝐬𝐮𝐫𝐞𝐦𝐞𝐧𝐭 1️⃣ Initial Measurement: All financial instruments are initially measured at fair value. 2️⃣ Subsequent Measurement: - Amortized Cost: Recognize interest, impairment, and gains/losses in profit or loss. - FVOCI: Changes in fair value go to OCI, but interest and impairment go to profit or loss. - FVTPL: All changes in fair value go to profit or loss. Let's put some examples to it Imagine you’re a small business owner, you: - loaned money to a friend with interest: Measured at amortized cost. - invested in government bonds for safety and interest, with potential for sale: Measured at FVOCI. - bought shares in a tech startup for quick profit: Measured at FVTPL. Why It Matters Understanding IFRS 9 helps ensure financial information is accurately reported, leading to better financial decisions and greater transparency. Please feel free to engage with your thoughts. Have a prolific week ahead. #AnnyDoxa

Daily Dose of Digitisation 08/10/2024 In today’s fast-paced business landscape, where multiple teams across various locations handle different sets of information, ensuring the accuracy and efficiency of data gathering can be a daunting task. This is especially true for corporate finance, procurement, audit, and financial control teams, where the need for precise and real-time data is critical for decision-making and operational efficiency. The GSTR 2A, provided by the government on the GST portal, has become a game-changer for businesses. This auto-populated document, containing all purchases and inward supplies made during a tax period, offers a centralized source of crucial data such as supplier GSTINs, invoice details, taxable values, and tax amounts. With GSTR 2A, finance teams no longer need to rely on tedious manual processes to validate input tax credits (ITC). Instead, the data can be imported directly into corporate accounting systems, allowing for real-time cross-verification with internal records. By automating data validation and eliminating manual entry, businesses reduce the risk of human error, save time, and enhance compliance. For procurement teams, GSTR 2A enables effective tracking of supplier compliance, while finance departments benefit from streamlined payable processes with accurate tax credits. Audit teams, on the other hand, can rely on this data for comprehensive verification, ensuring the authenticity of transactions. Meanwhile, management gains access to precise, up-to-date financial information, enabling better strategic decision-making. Beyond financial controls, the GSTR 2A helps businesses improve internal control mechanisms, track inventories, optimize logistics, and reduce turnaround times for procurement and other business processes. It not only drives greater efficiency within the finance and procurement functions but also strengthens the overall operational framework of the organization. In essence, the GSTR 2A transforms what was once a labor-intensive, manual process into an automated, real-time solution that empowers corporates to enhance efficiency, ensure compliance, and make informed, strategic decisions. The future of financial control, procurement, and management lies in leveraging such tools to drive operational excellence. #FinancialEfficiency #DataAutomation #TaxCompliance #CorporateFinance #ProcurementStrategy #FinancialControls #GSTSolutions #DigitalTransformation #RealTimeData #AuditExcellence #SupplyChainManagement #BusinessOptimization #TaxTechnology #GlobalBusiness #OperationalExcellence

Finance teams, say goodbye to manual spreadsheets and hello to automated compliance and reporting. Starting today, our enterprise-grade Revenue Recognition solution is available no matter which subscription management solution you use! As subscription businesses offer more customization to meet customer demands, finance teams face increasing complexity in accurately reporting financial statements. And while 65% of consumers say they might reconsider canceling if they can customize their plan, this flexibility can lead to revenue recognition challenges and audit risks. Recurly’s Revenue Recognition solution solves these challenges by empowering finance teams to scale their business while ensuring compliance and accuracy—without needing to overhaul their existing systems. Here’s how:  📜 ASC-606 & IFRS-15 compliance: Automate workflows and streamline compliance with FASB and IASB standards. 📊 Revenue forecasting & reporting: Gain real-time, multi-dimensional insights across monetization models and currencies. ⚙️ Automated revenue recognition: Speed up monthly close and ensure global financial reporting compliance. 💸 Multiple revenue models: Handle complex pricing models, including consumption, usage, and percent of completion. 🌍 Global revenue recognition: Scale with multi-currency, multi-book, and multi-entity accounting. Ready to unlock real-time revenue insights and accurate forecasting without switching your subscription management solution? Learn more and get started here: https://lnkd.in/d6z332Sq #FinanceAutomation #RevenueRecognition #ComplianceSolutions #SubscriptionEconomy

26AS reconciliation no longer headache for the Accountants, With CWN tool you can easily run the reconciliation and find out the mismatches on the go

Exemption certificate management and audit management tend to be the least automated finance processes. According to a Hanover study, 53% of businesses handle exemption certificates manually, while only 13% automate exemption certificate management. https://ow.ly/60SA50QpVvS

📊Facing Reconciliation Challenges? Here’s What Enterprises Need to Know. For growing businesses, payment reconciliation can become complex and time-consuming, especially with multiple payment providers and revenue streams. Our latest blog post highlights key challenges and their impact on business operations, including data consolidation, discrepancy management, and audit visibility. These issues can slow down operations, affect cash flow, and create financial uncertainty. This post breaks down these challenges and offers strategies to streamline reconciliation for better financial clarity and smoother business operations. Read the full article for actionable solutions: https://lnkd.in/euGT3auk

#Reconciliation is often seen as the 'necessary evil' in the payments ecosystem—complex, time-consuming, but crucial for businesses, particularly enterprises. Common challenges include: - Consolidating data from multiple sources - Resolving discrepancies across different providers - Manual efforts required by finance teams to identify unmatched fees and orders Discover how Payrails is empowering our partners to streamline reconciliation and tackle these challenges efficiently. #finance #financeops #payments #paytech