Knowcraft Analytics’ Post

We understand that a backlog in accounting can hinder efficiency, decision-making, and overall business agility. With our expertise, we not only tackle the backlog head-on but also implement strategic solutions to prevent future accumulations. Contact us today to learn more about our services: +297 699 2500 #consulting #businessprocess #optimize #backlog #reconciliations #closing #bookkeepingsolutions #bookkeepingandaccounting

Paper still dominates the office—especially in #finance. Paperwork creates significant obstacles to accuracy and efficiency. Our team shares insight for modernizing your #AR and #AP processes with #Acumatica and powerful add-ons. 🔗 https://bit.ly/3W9SBls

Benchmarking is a crucial process in transfer pricing. However, the initial stages that shape your comparable set are frequently not treated with the seriousness they deserve. Let's examine automatic filters - essential tools that streamline benchmarking yet are often dangerously treated as mere templates. These filters serve two primary purposes: - Ensuring basic comparability - Significantly reducing the workload in subsequent manual review steps Recent disputes with tax authorities highlight the risks of not giving these filters proper attention. Key automatic filters commonly employed include: 1. Industry codes (NACE/SIC): Aligning business activities 2. Geographic filters: Accounting for economic and market variations 3. Independence indicators: Assessing operational autonomy and absence of intercompany transactions 4. Consolidation codes: Determining usability of financial data (standalone vs. consolidated) 5. Ownership structure: Identifying significant shareholders or subsidiaries to ensure arm's length transactions 6. Company age: Reflecting business maturity 7. Active status: Ensuring data reflects current operational performance, excluding out-of-business comparables 8. Financial data availability: Guaranteeing sufficient information for analysis 9. Revenue thresholds: Comparing business scale 10. Profitability patterns: Identifying consistent loss-makers 11. Asset composition: Evaluating tangible and intangible asset ratios Each filter plays a specific role in creating a more focused and relevant set of potential comparables. However, it's crucial to understand that while automatic filters are invaluable, they require careful calibration. Using them as a one-size-fits-all template can lead to serious issues in transfer pricing analyses. #transferpricing #benchmarks

We have been recognized as a Leader by @Avasant in their 2024 RadarView™ evaluation for Finance and Accounting Business Process #Outsourcing. Discover how we can transform and integrate your #finance function into one that drives frictionless, enterprise-level outcomes, enhanced efficiency, and top-line growth for your business. Access the full report here: https://bit.ly/4eZplEU #ConnectedEnterprise #FrictionlessFinance

The Battle: Traditional Transfer Pricing Retainers vs. iVC’s Crossborder Value Chain Packages   Hours vs. Implementation: ⏳ Traditional Retainers: Like buying a ticket to a game with no guarantee of winning - You pay for a set number of hours, but what you get can be hit-or-miss. ✔️ iVC Crossborder Value Chain Packages: Think of it like hiring a personal coach who helps you win every time. We take your ideas and make them work, delivering the results you’re looking for.   Limited Scope vs. Expert Access: ⌛ Traditional Retainers: It’s like having a few players on the field but missing some key positions. You get help, but it’s often not enough. 🌟 iVC Crossborder Value Chain Packages: It’s like having an expert team with all the right skills. We’re here for you whenever you need us, providing top-notch support.   No Oversight vs. Growth Support: 🚫 Traditional Retainers: Imagine trying to navigate a maze without a map. You might get lost or miss important turns. 🌍 iVC Crossborder Value Chain Packages: Picture having a guide who knows the maze inside and out. We help you manage challenges and deliver real change.   Still skeptical? Hear it from our clients: 💬 "The regular schedule has helped keep the project on track and priorities clear, which has been instrumental in streamlining our workflow and enhancing productivity. The ability to discuss pressing matters and receive timely feedback contributes to more efficient decision-making and problem-solving" - Andrius, Legal Counsel from DappRadar 👔   iVC's value chain packages are designed to be smarter and more effective. Ready for a smarter approach? Let’s make it happen! 👇   https://lnkd.in/eJATRvcS

We hear this question sometimes: Why is intercompany reconciliation required for my business? Intercompany reconciliations are important because they help eliminate errors in your financial statements. Read our article for tips on timely reconciliation.

Many financial consolidation software packages offer essential features like currency translation, intercompany reconciliations, journal adjustments, and managing partial ownership of entities. However, it's important to note that not all packages are the same. Download our free whitepaper and discover how you can handle complex eliminations with intelligent finance platform: https://lnkd.in/gkAGk_66 #Finance #Accounting #financialfreedom #financialwellness #Consolidation #reporting #financialreporting #financialgoals #FinancialClose #financialmodel #SAMCorporate #10YearsofSAM

Account reconciliation is the process of ensuring that the balances in financial statement accounts are accurate at the end of an accounting period. This process compares two sets of records to ensure that the figures match and are in agreement. Download our whitepaper, where we highlight: 1. When Account Reconciliations are Performed? 2. The Challenges 3. CPM Tools You Can Use 4. Our Solution for Account Reconciliations 5. Key Benefits Get the free copy today: https://lnkd.in/gq9MeaaC #cpm #automation #epm #performancemanagement #SAMCorporate

Is 𝗺𝗮𝘅𝗶𝗺𝗶𝘀𝗶𝗻𝗴 𝗿𝗲𝘁𝘂𝗿𝗻 𝗼𝗻 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 (𝗥𝗢𝗜) a top priority for your business? Discover how automating your Accounts Payable (AP) processes can be the game-changer you need! Join our free webinar and learn how AP Automation: ✅ Reduces costs ✅ Increases processing speed ✅ Improves accuracy 🔗 Register now: https://bit.ly/3Bl8U6y Maximise your ROI and drive long-term success! #APAutomation #ReturnOnInvestment #ROI #AccountsPayable #Finance Adam Roche