ACCOUNTING automation start-up Gappify Inc. announced receiving P16.68 million as investment from non-stock, nonprofit corporation Manila Angel Investors Network Inc.
Its “Accrual Cloud” product “allows accounting departments to close their books with greater accuracy and completeness, bolster internal controls to strengthen compliance and mitigate financial misstatement risk.” Based on the business’ needs, for example, it can automatically send messages to their customer’s active vendor list to confirm specifics around their open transactions early. This ensures a more accurate set of journal entries that leads to a more current and compliant accounting accrual calculation practices.
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