TaxConnex

JULY 18, 2024

Proper documentation allows auditors to interpret and verify your financial transactions accurately. This can lead to auditors assuming transactions are taxable, or making historical projections or arbitrary assessments of taxable sales. Returns/Credits Returns and credits should be clearly identified in your accounting system.

audit 264

audit Sales Tax tax return 264

Basis 365

FEBRUARY 10, 2025

General Ledger Maintenance Your general ledger serves as the foundation of your accounting system, recording all financial transactions. Outsourcing general ledger maintenance allows trained professionals to ensure every entry is correctly recorded and categorized.

bookkeeping 52

bookkeeping general ledger Technology accounts payable 52

Withum

APRIL 27, 2022

Many nonprofit organizations have limited resources and often the finance team also supports the general operations. The accounting system is the basis for reports that must be provided to grant agencies, prospective donors, lenders, its independent auditors, tax preparers, the Board of directors and management. .

general ledger 119

general ledger audit auditor accounting and finance 119

Cherry Bekaert

JUNE 27, 2024

If significant system deficiencies are identified and not corrected, the DoD can impose substantial consequences, such as withholding a percentage of payment or deeming a contractor ineligible to submit bids. Table of Contents: What Are the Requirements for an Adequate Accounting System?

accounting system 52

accounting system Government audit Account 52

Airbase

NOVEMBER 15, 2023

The importance and evolution of accounts payable. ERP/General ledger vs transaction solutions. Traditional benefits of accounts payable automation. These newer systems also use AI technology to automate the accounting entries that are needed to close the books. ERP/General ledger vs transaction solutions.

AP Automation 130

AP Automation Technology accounts payable Accounts Payable Automation 130

Withum

FEBRUARY 6, 2023

The taxing authority auditor’s request to pull invoices substantially decreased. Achieve automation through workflow, dashboard alerts, and saved searches , especially with processing vendor invoices and exposing the capability to view the invoice online and drill back to the General Ledger details.

tax preparation 78

tax preparation business tax Tax general ledger 78

Ryan Lazanis

MAY 24, 2023

For kicks, here’s the oldest Xero screenshot that can be found on record (from 2007): Here are some tips to leveraging cloud computing in accounting: Tip 1: Become Cloud Accounting Certified Master the popular cloud accounting systems , like Xero or QuickBooks Online, by becoming certified on their platforms.

Technology 98

Technology Account accounted accountant 98