What is Data Normalization? Follow
What is Data Normalization?
Data normalization is like tidying up a messy room. It organizes your financial information, such as assets, liabilities, and payments, into a clear and standard format. This process helps you better understand your business's economic health, make smarter decisions, and create accurate reports easily.
How to Normalize Data in AutyFi
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Navigate to Normalization:
- Click on the Normalization tab in the left-hand menu.
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Select the Chart of Accounts:
- In the Normalization section, select Chart of Accounts.
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Choose a Location:
- Find a location with unmatched items to standardize. Use the search bar if needed.
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Review and Match Items:
- Check the list of unmatched items.
- Match each item to the correct category in your standard chart.
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Confirm Changes:
- Make sure all items are correctly matched.
- Save your changes to update your data.
Benefits of Normalization
- Clarity: See your business's financial status at a glance.
- Informed Decisions: Make smarter, faster business decisions.
- Simplified Reporting: Create accurate financial reports easily.
Following these steps lets you keep your financial data organized and easily understood. For more details or help, feel free to contact our team.
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