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How to Maintain Compliance Documentation for Sales Tax Audits | TaxConnex

TaxConnex

Sales Tax Accruals Ensure that sales tax is stated in your general ledger as a separate GL account number. Returns/Credits Returns and credits should be clearly identified in your accounting system. Ensure these bad debts are clearly identified and documented in your accounting system.

audit 264
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How Government Contractors Can Master the Art of Timekeeping

CPA Practice

government contracts account for over $700 billion annually , a significant portion of which hinges on the ability for contractors to “establish and maintain an acceptable accounting system” which includes “timekeeping” and “labor distribution.” By Jim Wesloh U.S.

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Netsuite vs. Quickbooks: Accounting Software Comparison

inDinero Accounting

One of the most critical aspects of running your own business is accounting. That’s why 71% of businesses rely on outsourced accounting to help them track their financial data. However, even with an accountant, you still need a way to keep records. However, even with an accountant, you still need a way to keep records.

NetSuite 105
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Accounting Software for Accountants and Bookkeepers

Snyder

Accounting software is the primary operational tool for bookkeepers and accountants. With a large selection of products available on the market, it’s possible to pick the one that best addresses the unique needs of your accounting firm and your clients. . How to Choose the Right Accounting Software for Your Business?

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Accounting on Salesforce Guide

Accounting Seed

The Ultimate guide to accounting on Salesforce The Ultimate Guide to Accounting on Salesforce shows you how to save time, money, and stress, all while making your data-informed strategies more powerful. Everything from the lead to the general ledger can be done in a matter of clicks in a single view.

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Latest product news — July 2022

Xero

Here are the most recent design changes in Xero: We’ve made improvements to the design and layout of bank reconciliation within the Xero Accounting app, to make your experience easier and more accessible (iOS and Android). This enhancement means you can make adjustments that are not sent back to the general ledger from within the return.

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Technology-Mature Firms Can Earn Up to 39% More Revenue Per Employee

CPA Practice

Firms that have embraced connected accounting technology, that are leveraging data to make informed decisions, and that are generally more technology-mature are outperforming their slower-to-adopt counterparts by up to 39% revenue per employee. Download the full 2024 Accounting Firm Technology Survey to view detailed data.