{"id":1098,"date":"2017-08-01T19:02:16","date_gmt":"2017-08-01T19:02:16","guid":{"rendered":"https:\/\/www.aiminsight.com\/?p=1098"},"modified":"2021-02-17T12:56:52","modified_gmt":"2021-02-17T20:56:52","slug":"not-knowing-financial-position","status":"publish","type":"post","link":"https:\/\/www.aiminsight.com\/blog\/uncategorized\/not-knowing-financial-position\/","title":{"rendered":"Not Knowing Financial Position"},"content":{"rendered":"<ul>\n<li>Inter-company transactions must be entered manually in each company.<\/li>\n<li>Transactions are re-keyed into multiple databases.<\/li>\n<li>There are errors.<\/li>\n<li>Transactions do not get recorded in all companies.<\/li>\n<li>They get recorded incorrectly resulting in difficulty reconciling the inter-company balances.<\/li>\n<li>Time is spent re-keying budget data from spreadsheets into the GL so budget vs. actual analysis can be performed.<\/li>\n<li>You cannot easily transfer information between the general ledger and Excel for creating and updating budgets.<\/li>\n<li>You do not have a mechanism for creating base line or blank budgets utilizing the information within their general ledger.<\/li>\n<li>You are unable to link back or drill down from Excel to see more detail on the GL account.<\/li>\n<li>You are overspending and not realizing the true cash position.<\/li>\n<li>You are unable to perform \u2018what-if\u2019 scenarios.<\/li>\n<li>Unknown how to re-key information onto spreadsheets to perform \u2018what-if\u2019 cash scenarios.<\/li>\n<li>It is cumbersome and error prone.<\/li>\n<li>It is difficult to update when underlying data changes.<\/li>\n<li>Cash flow is viewed as a report and there are little or no drill down capabilities.<\/li>\n<li>Users are required to manually search for transactions included on a cash flow report.<\/li>\n<li>Much time is spent researching transactions.<\/li>\n<li>You are unable to see both posted and un-posted transactions.<\/li>\n<li>Reports are cumbersome and error prone.<\/li>\n<li>They are difficult to update when underlying data changes.<\/li>\n<li>You are missing out on potential investment opportunity because of not seeing full cash flow picture.<\/li>\n<li>Your accounting staff has to re-key information for fixed assets acquired via a purchase order or vendor invoice.<\/li>\n<li>They forget to create new assets records and therefore miss out of tax deductions due to misplaced assets.<br \/>\nThere is a risk of potential theft if the company has no record of the asset and therefore they might not miss it.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Inter-company transactions must be entered manually in each company. Transactions are re-keyed into multiple databases. There are errors. Transactions do not get recorded in all companies. They get recorded incorrectly resulting in difficulty reconciling the inter-company balances. Time&#8230; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1098","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/comments?post=1098"}],"version-history":[{"count":1,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1098\/revisions"}],"predecessor-version":[{"id":1100,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1098\/revisions\/1100"}],"wp:attachment":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/media?parent=1098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/categories?post=1098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/tags?post=1098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}