inDinero Tax Tips

JANUARY 1, 2025

Accountants operate on a higher level. Theyre well-versed in GAAP (Generally Accepted Accounting Principles), help navigate differences between cash and accrual accounting, and help startups design equity structures. Use dedicated bank accounts and credit cards for expense and activity categories.

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Basis 365

APRIL 18, 2023

Expertise and Specialization Bookkeeping is a specialized skill that requires expertise and knowledge of accounting principles, tax regulations, and financial reporting standards. CFOs understand the importance of accurate bookkeeping in maintaining financial integrity and compliance with regulatory requirements.

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CPA Practice

JULY 31, 2023

Conduct skill-based interviews and tests to assess the offshore accountant’s proficiency in relevant areas such as accounting principles, tax regulations, software usage, and data analysis. Common examples include bookkeeping, data entry, tax preparation, payroll processing, accounts payable/receivable, and financial analysis.

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Cherry Bekaert

OCTOBER 5, 2023

Of the top software market contenders, Sage Intacct is the platform endorsed and trusted by the American Institute of Certified Public Accountants (AICPA). Highlighting Sage Intacct Feature – Use Case Visix, Inc.,

Real Estate 115

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Basis 365

MARCH 1, 2023

Matching principles outlined by Generally Accepted Accounting Principles are also impacted. This principle requires revenue and expenses to be reported in the same period that they were incurred. Differentiating these positions might lead to higher payroll costs, but the long-term benefits can outweigh these costs.

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CPA Practice

OCTOBER 23, 2024

Certifications for QuickBooks Payroll and QuickBooks Desktop and Desktop Enterprise also remain available. It’s designed to help new talent start and grow their careers, teaching fundamental accounting principles. “We We know that non-traditional talent needs more than just product training.”

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Withum

JANUARY 24, 2023

As navigating an audit from a company perspective is a time-consuming process, companies should plan to utilize accounting managers, senior accountants, or outsourced consultants who have a strong knowledge of generally accepted accounting principles (“GAAP”) in order to successfully navigate the audit process in an efficient manner.

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Cherry Bekaert

SEPTEMBER 12, 2024

Ensure Compliance With Regulatory Requirements: Tech companies are required to comply with Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS), which are particularly important for companies planning to go public.

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Withum

OCTOBER 17, 2023

A general ledger system can also integrate with other systems, such as budgeting, payroll, inventory, and reporting, to streamline the accounting process and improve efficiency. It provides a comprehensive and accurate picture of the organization’s financial position and performance.

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Basis 365

FEBRUARY 1, 2024

Their accounting software is outdated and clunky, disconnected from other systems. Invoices languish in email inboxes, expense reports get lost in paper trails, and payroll processing involves manual calculations. Payroll runs like clockwork, eliminating errors and boosting employee satisfaction.

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ThomsonReuters

APRIL 6, 2023

From understanding the why and the how, to knowing what to look for, let us be your guide to accounts payable automation. The basics of accounts payable The term accounts payable (AP) refers to all business expenses except payroll. Why automate accounts payable?

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ThomsonReuters

APRIL 6, 2023

Additionally, crediting accounts receivable by $250,000 means a decrease in the accounts receivable by the same amount. GAAP for accounts payable and receivable The Generally Accepted Accounting Principles (GAAP) are a set of rules specific to the United States that are designed to provide oversight for accounting practices.

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Shay CPA

JANUARY 31, 2024

QuickBooks plans to stop selling the following desktop software on July 31, 2024: QuickBooks Desktop Pro Plus QuickBooks Desktop Premier Plus QuickBooks Desktop Mac Plus QuickBooks Desktop Enhanced Payroll Existing desktop users won’t lose access to their software overnight.

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Shay CPA

SEPTEMBER 13, 2023

A controller will almost always be a certified public accountant (CPA). That certification ensures that they’re up to date on best practices like Generally Accepted Accounting Principles (GAAP). Long story short, a controller’s primary area of expertise is accounting.

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Withum

SEPTEMBER 27, 2024

Further, buyers are likely to require reporting in compliance with Generally Accepted Accounting Principles (“GAAP”). For example, discontinue excess fringe benefits, adjust rents to market rates, discontinue non-contributing family members on payroll and so forth. Takeaways Finally, make sure your taxes are in order.

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ThomsonReuters

APRIL 18, 2023

Payroll errors For accounting professionals, payroll services have long been viewed as a time-consuming, high-risk loss leader. There’s no doubt that without the right technologies in place, payroll errors can be a real concern. Payroll is complex and one of the most regulated functions in an organization.

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Shay CPA

DECEMBER 19, 2023

C-corporation, LLC), their payroll considerations, generally accepted accounting principles (GAAP) here, and optimizing their fintech stacks. Specifically, Shrimanker touched on the tax implications of the different entity types those companies might choose (e.g.,

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Cherry Bekaert

JUNE 27, 2024

How Should a Contractor Prepare for an Accounting System Audit? Make sure the accounting, billing, payroll processing, and management individuals are available and ready to meet with the DCAA auditor. Be prepared to discuss how your accounting and timekeeping systems work either virtually or in person.

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Basis 365

JULY 21, 2023

WIP (Work-in-Progress) Accounting: Service-based businesses may have ongoing projects that are not yet completed at the end of the accounting period. Properly classifying workers as employees or contractors is important for tax purposes and determines the associated payroll taxes, benefits, and other employment-related expenses.

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Shay CPA

MARCH 22, 2023

generally accepted accounting principles (GAAP), software development costs are typically expensed as incurred instead of capitalized. If you conduct research overseas, you need to amortize the expenses over fifteen years. The changes to Section 174 (as they currently stand) would create significant Book to Tax differences.

Tax 52

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CPA Practice

AUGUST 23, 2024

Think of the controller as the head of the accounting department. Their primary job is to ensure that all financial reports are accurate, comply with generally accepted accounting principles (GAAP), and are prepared in a timely manner. CFO: The CFO, however, is more concerned with the future.

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inDinero Accounting

APRIL 9, 2021

A chief reason for that is the matching principle, a rule for recording expenses in the same period that related revenues are earned on the income statement. payroll) relates to revenue in an accounting period. With an accrual method of accounting, SaaS gets insight, clarity, and confidence. Payroll Costs.

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Basis 365

APRIL 28, 2022

This can be a burden to get everything in order by the deadline, which is why many partnerships turn to work with an outsourced accountant to get the financials prepared in a timely manner. In addition, partnerships are faced with expanded accounting requirements to comply with Generally Accepted Accounting Principles.

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Reckon

JUNE 12, 2024

Accounts management: It’s not rocket science (but we’ll explain why you need it anyway) Accounts management, in essence, is all about maintaining detailed and up-to-date documentation of your accounts receivable and accounts payable. It’s also tied to your payroll management and asset management.

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inDinero Accounting

JANUARY 9, 2023

We’ll cover the various services startups need from accountants and the things accountants look out for while doing their work. There are many good reasons for the way things work – GAAP (generally accepted accounting principles) has been honed for decades. All of these should be managed and handled by your accountant.

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inDinero Accounting

JANUARY 9, 2023

We’ll cover the various services startups need from accountants and the things accountants look out for while doing their work. There are many good reasons for the way things work – GAAP (generally accepted accounting principles) has been honed for decades. All of these should be managed and handled by your accountant.

accountant 52

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Snyder

DECEMBER 6, 2022

QuickBooks makes it simple to manage your finances without having to learn complicated accounting principles. Top available features : Plans suitable for real estate agents; Built-in payroll functionality; Flexible and easy to use. You can run your business from anywhere and stay connected while you’re out and about.

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Snyder

JANUARY 16, 2023

But there’s definitely a potential for improvement, as filing taxes and getting tax returns can be streamlined with the right accounting software and professional help from experienced accountants. Want to brush up on basic accounting principles or small business accounting ? 5 common accounting errors.

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Basis 365

MARCH 30, 2023

This is why we utilize accrual accounting for all of our customers. Bookkeeper : Expect to see common accruals like Accounts Receivable and Accounts Payable. They may properly accrue payroll or notes payable. Controller : Similar to Bookkeepers although they have a much deeper understanding of accounting principles.

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Snyder

JULY 1, 2022

When you prepare these financial reports, you must comply with generally accepted accounting principles (GAAP). The next thing is calculating all of your operating expenses – the costs spent on running your business (administrative, general or selling): fees, rent, utilities, payroll, maintenance, etc.

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CPA Practice

OCTOBER 18, 2024

She manages the accounting department and ensures the timely and accurate preparation of monthly financial statements for the Association. In addition to assisting in the coordination and management of the Association’s annual audit and budget, she oversees the payroll and benefits accounting. She holds a B.S.

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