CaseWare IDEA Applications
- 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.
- 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
- 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.
- 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
- 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
- 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
Areas of Applications
- Create custom payroll reports
- Isolate entries against authorization records for new or terminated employees
- Analyze costs for special pay, overtime, premiums, etc.
- Compare time card rates to payroll and to look for variances
- Look for changes in key payroll data, such as gross pay, hourly rates, salary amounts, exemptions, etc.
- Compare employee tax identification numbers, phone numbers, and addresses to vendor information for payables to identify potential conflicts of interest
, CaseWare IDEA
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