You're reading from Managing Data Integrity for Finance Discover practical data quality management strategies for finance analysts and data professionals

Product type Paperback

Published in Jan 2024

Publisher Packt

ISBN-13 9781837630141

Length 434 pages

Edition 1st Edition

Languages

SQL

Tools

Power BI

Concepts

Data Engineering

Author (1):

Jane Sarah Lat

View More author details

Table of Contents (16) Chapters

Preface

1. Part 1: Foundational Concepts for Data Quality and Data Integrity for Finance

2. Chapter 1: Recognizing the Importance of Data Integrity in Finance FREE CHAPTER

3. Chapter 2: Avoiding Common Data Integrity Issues and Challenges in Finance Teams

4. Chapter 3: Measuring the Impact of Data Integrity Issues

5. Part 2: Pragmatic Solutions to Manage Financial Data Quality and Data Integrity

6. Chapter 4: Understanding the Data Integrity Management Capabilities of Business Intelligence Tools

7. Chapter 5: Using Business Intelligence Tools to Fix Data Integrity Issues

8. Chapter 6: Implementing Best Practices When Using Business Intelligence Tools

9. Chapter 7: Detecting Fraudulent Transactions Affecting Financial Report Integrity

10. Part 3: Modern Strategies to Manage the Data Integrity of Finance Systems

11. Chapter 8: Using Database Locking Techniques for Financial Transaction Integrity

12. Chapter 9: Using Managed Ledger Databases for Finance Data Integrity

13. Chapter 10: Using Artificial Intelligence for Finance Data Quality Management

14. Index

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A number of problems could arise throughout the account reconciliation and accounting process that would influence the integrity of financial data. Let’s dive deeper into the common reconciliation errors.

Understanding common reconciliation errors

Some of the most prevalent problems in the area of reconciliation include those discussed in the following subsections. Afterward, we’ll discuss how to avoid and prevent these issues.

Unrecorded transactions

Transactions that are not documented in the financial records may cause discrepancies between the financial records and the supporting documents. Simply put, it is essential to ensure that all transactions are appropriately recorded and documented to prevent this type of issue.

For example, a cash sale in a restaurant might not be recorded due to the rush of evening sales when the store is about to close for the day. Another example would...