IDEA Users Working Remotely: We’re here to help! Please contact our IDEA Help Desk to ensure there is minimal disruption to your daily workflow. Financial Audit Software audit & finance
Finance professionals carry the burden of digging deep into data, accounting records, internal controls and policies to prevent fraud, theft and errors. Data analytics tools like
CaseWare IDEA® can help you pinpoint discrepancies in the financial records to gain confidence in the accuracy and integrity of business processes and financial reports.
Analyze Key Financial Data for Greater Insights General Ledger
Test 100% of GL transactions to analyze journal entries, account information and search for duplicates.
Search through high volumes of transactions to identify late invoices, illegal payments, missing or duplicate items and other indicators of fraud.
Ensure assets are safeguarded by analyzing debts, outstanding items, accounts with large balances, dormant accounts and credit balances.
Take a proactive approach in identifying employee theft by executing trend analysis, searching for anomalies and uncovering illegal activity.
Compare data from different systems to perform testing, prevent overpayments and avoid penalties.
GreenSky LLC Reduces Monthly Statement Review from Days to Minutes with IDEA
See how they did it! Where to Apply Data Analytics General Ledger Speed closing with quick account reconciliations and adjustment transactions Easily calculate financial ratios and changes for sales/assets, debt/equity, etc. Calculate and sort percentage variances in accounts between periods Analyze year-to-date activity for large operating accounts (rent, taxes, etc.) Compute weighted averages and interest rates Create custom balance sheets, P & L statements, cash flow analyses, etc. Prepare trial balances by tax group and calculate tax provisions Compare summaries by major accounts Sales Analysis Generate sales and profitability reports by sales representative, product, etc. Recap product sales by region, customer, category, etc. Analyze sales trends by comparing current and previous periods Summarize shipments by warehouse for product distribution analyses Identify top dollar volumes by products, customers, sales reps, etc. Analyze demand/trends by comparing current product sales with booked sales Compare current sales to open receivables Accounts Receivable Report and automatically age total receivables Determine carrying cost by comparing days in collection by customer Identify credit limit exceptions Profile customers’ purchasing cycles to improve profitability Generate summaries by customer, invoice, amounts, etc. Identify duplicate invoices, credits or receipts Summarize client days to payment by customer, sales rep, region, etc. Identify credits taken beyond discount terms Look for lost revenue from unpaid carrying charges by client, etc. Identify accounts without recent activity for follow up by sales reps Determine average sales amounts by product, sales rep, region, etc. Asset Management Compare book and tax depreciation and indicate variances Identity fully depreciated items and assets higher than replacement cost Recap asset values, in dollar value order, by net or cost amount Recalculate expense and reserve amounts using replacement costs Compare useful lives of assets by category Extract assets with useful lives or depreciation rates beyond set norms Inventory Analyze usage and ordering to improve turnover Segregate variances from standard pricing in dollar amount order Identify obsolete inventory by sorted turnover analysis Report on products in order of profitability Assess financial viability of LIFO versus FIFO management Create custom reports on stock and high-value balances Summarize and stratify turnover by stock item Compare yearly volume with on-hand quantity for stock items Analyze high-value transactions Summarize stock on-hand by group, location, type, etc. Look for differences between standard costs and actual costs Compare cost to retail price to look for pricing discrepancies Find products with zero quantities or zero prices Review product reordering volumes by item, warehouse, and vendor Accounts Payable Compare voucher or invoices posted against purchase order amounts Total posted invoices for the year for accurate vendor rebates Identify vendor unit price variances by product Find invoices without purchase orders Look for distributions to suppliers not in suppliers’ master file Compare recurring monthly expenses to paid invoices Identify invoices posted with duplicate purchase order numbers Calculate cash requirements by bank, period, product, vendor, etc. Look for lost discounts not taken Compare vendor payables posted to purchase orders Identify reversals or offset entries Let's Put Data Analytics to Work for You! BROWSER NOT SUPPORTED
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