Audit Trail Software
Having a company’s financial statements audited by independent external auditors is a best practice that ensures compliance and accountability. With Rillions audit trail software, we simplify this process for you.
How many times have people in accounting or finance spent hours searching for all the documents related to one transaction? A software audit trail can access all records instantly. The audit trail will also show corrections or other changes made to a transaction and provide visibility into who did what, when.
Tax audits can be painful and expose the business to tax penalty risk any time it happens. Audit fees are based on the time involved and paper processes will take up a considerable amount of it. Not having an audit trail, or having missing documents and transactions raises red flags for auditors. It’s wise to ensure everything is available for review, and quickly.
Once employees realize that everything is being tracked by audit trail software, they think twice about attempting something they shouldn’t. A good AP automation platform will record each and every transaction with time-stamps.
Companies in every industry, whether they are regulated by the government or other regulatory body need to show that they are compliant with policies and procedures. Lenders and investors need to be assured that the organization is transparent and accountable for all the transactions it undertakes.
Comprehensive AP automation software is engineered to provide an audit trail complete with all of the documents and messages involved in each and every transaction.
For more information about Rillion AP Automation with Archive & Audit, visit our solution page here.
An audit is key in establishing trust between management and stakeholders.
Well-managed audit trails are key indicators of good internal business control, but the trail can become fairly complex in various situations. Use audit trail software to streamline the audit process of accounts payable.
A software audit trail can access all records and show corrections instantly.
Our AP automation platform will record each and every transaction with time-stamps.
Rillion’s automation software is designed to offer a complete audit trail, encompassing all documents and communications involved in every transaction.
Lacking an audit trail or having incomplete documents and transactions can signal red flags for auditors. It’s prudent to make sure all materials are readily available for review, and promptly so.
Audit Trail Software – Trusted By Banks
Rillion is trusted by banks and financial institutions in the US and Europe. Accreditations in the US include SOC1, SOC2, HIPAA, GDPR, and PEPPOL.
Read more about Audit Trail Software
“We manage nearly 300 solar sites. Each solar farm is its own company, and each installation has its own tax implications with our investors. We’re using Rillion for the audit function, to handle enquiries for all of these accounts.”
We’re committed to solving your problems and making your job easier with our invoice capture solutions.
The time required for implementation of Rillion One and Rillion Prime may vary, depending on the features you choose and the ERP system you’re using.
Contact one of our experts today to schedule a demo. As always, we’re with you every step of the way.
Rillion’s solutions integrate with many popular finance and business systems.
Which accounting software has audit trail?
Accounts payable automation has an audit trail, which is time stamped record of all the events related to the accounts payable process around the payment for goods and services.
What are the Accounting benefits of audit trail software from AP automation?
The audit trail function gives finance staff the ability to pull essential information and accommodate both internal and external investigations for everything related to supplier invoice data, invoice approval and invoice payment.
What is an audit trail?
An audit trail in accounts payable is an invoice log that tracks all the events around receiving vendor invoices, the approval workflow and invoice payment.
Audit trail definition
An audit trail is a detailed record that chronicles a sequence of events or activities within a system, process, or transaction. It serves as evidence of the actions that have taken place, providing transparency, accountability, and a means to verify the integrity and reliability of the operations or transactions in question. Audit trails are essential in various contexts, including financial transactions, compliance monitoring, security operations, and information technology systems management.
Scalable solution
Electronic invoice management and purchase-to-pay for larger organizations with high demands on automation.
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Rillion provides accounts payable automation (AP Automation) to organizations in over 50 countries worldwide. We get high ratings for ease of use and great support. 96% of Rillion customers feel that the platform fulfills expectations, and 95% consider Rillion to be a worthwhile investment.
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