Thu.Aug 08, 2024

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Leveraging AI for a path to accounting partnership

ThomsonReuters

In the rapidly evolving landscape of the accounting profession, the integration of AI-powered technology stands out as a pivotal factor that can accelerate a young professional’s journey toward becoming a partner. Embracing a more consultative mindset, as well as leveraging the most current accounting tech solutions , is essential for those aiming to distinguish themselves and advance their careers in modern accounting firms.

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Sales tax and agriculture | TaxConnex

TaxConnex

Many industries come with confusing sales tax complexities. So does agriculture, and several aspects make this industry trickier than others for sales tax. Here are points to keep in mind regarding sales tax and agriculture. Laws vary by state Sales tax changed dramatically in 2018 with the Supreme Court Wayfair decision in a case that greenlighted states mandating online retailers collect and remit sales tax on transactions in states where they had no physical presence.

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IRS processing more ERC claims, moves moratorium date to Jan. 31, 2024

Accounting Today

The Internal Revenue Service is paying out more claims for the Employee Retention Credit program even as it gives the claims greater scrutiny, and is moving the moratorium on processing new claims from Sept. 14, 2023 to Jan. 31, 2024.

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Pandemic Caused Many Jobs to Move from Big Cities to Smaller Metros

CPA Practice

Jonnelle Marte Bloomberg News (TNS) The pandemic changed where Americans are likely to live and work, with a growing portion of job openings moving away from the biggest cities and into smaller metro areas, according to a Federal Reserve Bank of New York analysis. Job listings in large central metro areas now account for about 38% of total listings nationwide, down from 46% prepandemic, the researchers said in a blog post published this week.

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The Financial Leader's Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Big 4 Firms Have Specific Hiring Plans in India

Going Concern

Indian business news site Business Standard published a story the other day with the following headline : Amid GCC boom, Big Four in India are boosting hiring of ‘tech architects’ This should be good. If you don’t know the GCC acronym, you certainly know the concept. GCCs, or Global Capability Centers, are the offshore warehouses where they stuff all the people who work cheaper than you (the average cost of a full-time equivalent at a GCC was $22,939 including salary and other

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New features to help streamline accounts payable

Xero

Managing accounts payable is a crucial part of doing business, but paying the bills can be time-consuming and inefficient. So we’re on a mission to make it easier. We’re excited to announce that, over the next few months, we’re making some enhancements to the way you manage bills in Xero. These updates will help small businesses to streamline their end-to-end accounts payable process, saving time and gaining efficiencies.

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Marquette University Launches a ‘No Stupid Questions’ Program For Early Accounting Students

Going Concern

Marquette University’s #32 ranked undergraduate accounting program* has deployed a mentoring project that seeks to help first year accounting students make sense of the language of business. “We consistently find that students who are just starting out in the accounting courses are the ones who benefit the most from personalized instruction,” said department chair Dr.

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New! Free Webinar Series: The State of QuickBooks Desktop

Insightful Accountant

What is really going on with QuickBooks Desktop? Fourlane is offering a new webinar series to explain all of the changes with QuickBooks Desktop.

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Tax Fraud Blotter: State of crisis

Accounting Today

Fictitious relatives; countless meals; the road to Morocco; and other highlights of recent tax cases.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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5 Payroll Features and Benefits to Consider When Shopping for Software 

Patriot Software

When you have employees, you need to pay them. Instead of manually calculating gross pay, payroll taxes and deductions, and net pay, you might opt for payroll software. With the right software, you can run payroll in minutes—not hours—each pay period.

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Taxpayers claim $8B in clean energy credits for 2023

Accounting Today

Claims for the Residential Clean Energy Credit averaged $5,084 per tax return.

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Transforming Your Business Strategy with Outsourced FP&A Expertise

AccountingDepartment

In today’s competitive market, small to medium-sized businesses (SMBs) face the challenge of making strategic decisions with limited resources. One area that often gets overlooked in this equation is Financial Planning & Analysis (FP&A). While it might sound like something reserved for larger corporations with extensive budgets, FP&A is crucial for SMBs aiming to maximize their potential and secure a competitive edge.

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How the Xero Beautiful Business Fund helped a platform for pre-loved goods take sustainability further

Xero

“So many parents that we’ve talked to over the years want to shop secondhand, but they find the process time-consuming and frankly, quite overwhelming. We wanted to make it easier for them and make the sustainable choice, the easy choice,” said Nicole Boynton, co-founder of Hand Me Up , an ecommerce platform for second-hand children’s clothing that she started with co-founder Kara Livingston in San Antonio, Texas.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Securing Your Firm: How To Manage Cyber Risk in the Professional Services Industry

Cherry Bekaert

In the latest episode of Cherry Bekaert’s Professional Services podcast, we discuss the importance of cybersecurity, privacy and data security within the professional services industry. Scott Duda , Professional Services Industry Leader, is joined by Steve Ursillo , a Partner with Cherry Bekaert’s Information Assurance & Cybersecurity practice, as they explore the top cyber threats facing the industry.

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Our updated migration approach to move UK customers to new subscription plans

Xero

In May, we announced changes to Xero’s plans in the UK as part of our efforts to simplify Xero’s offering. The new plans, which will launch on 12 September 2024, bundle key features such as Xero Payroll, Xero Expenses, multicurrency, Xero Analytics Plus and bill payments into some plans, making it easier to choose the best option for your business or clients.

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Avoid this common retirement blunder

Accounting Today

Your clients have worked long and hard their entire adult lives to secure a comfortable retirement, so make certain they don't make one of the most common mistakes as they contemplate their options.

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Top Tips for Crypto Investors to Prepare for Tax Season

Withum

Tax season can be stressful, especially for crypto investors. The complexity of tracking transactions, calculating gains and losses, and staying compliant with ever-evolving regulations can be difficult. However, with a bit of preparation, you can make tax season a breeze. 6 Essential Tips to Stay Ahead of the Curve Organize Your Transaction Record: Saving detailed records for all of your crypto transactions is crucial.

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Digital Transformation in Accounting: Why It’s Essential for Modern Firms

Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

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Top Remote Accountants of the Week | August 8, 2024

Going Concern

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. ACCOUNTING CANDIDATE FTE Accounting Manager | Candidate ID #21968103 Certifications: CPA Education: BSBA Accounting, MS Accounting Experience (years): 12+

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Success With Goal Setting

Insightful Accountant

Insightful Accountant has partnered with Chris Panek, CPA and Certified Coach to provide training sessions with follow up Q&A sessions for our Be Insightful Premium Content members.

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CohnReznick Earns Three Global M&A Network Awards

CPA Practice

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Global M&A Network has recognized its Transaction Advisory team with three awards. At the 6th Annual USA Middle Market M&A Atlas Awards, the firm was named Outstanding USA Transaction Advisory Firm and also won the Growth Investment Deal Award.

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M&A Update: Middle Market M&A and Leverage Overview – 2024 Quarter 1

Withum

Insights from Withum’s Investment Banking 2024 Quarter 1 Report Download Guide How is the M&A market trending in Q1? We dive into answering this question in our Investment Banking Quarter 1 report. Take a look at what we are seeing within the current M&A activity, M&A trends, industry sectors and the private credit markets. A Glimpse Into Our Investment Banking Quarter 1 Report: M&A activity is seeing an uptick, yet a broad recovery remains elusive As overall multiples contract,

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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How Terrell Turner Manages His Team and Streamlines Workflow

Canopy Accounting

I recently had the opportunity to sit down with Terrell Turner , the founder of TLTurner Group , to discuss how he has successfully navigated the complex landscape of bookkeeping and CFO services for law firms since April 2020. With a growing team of 10 staff members spread across different countries and time zones, Terrell's systematic approach to managing his team and technology is impressive.

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Add Gridlines to QuickBooks Desktop Reports

Insightful Accountant

Intuit introduced a mid-year 'slipstream' update to QuickBooks Desktop reporting that allows gridlines to be displayed in five of the most popular financial reports.

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An Example of a Forensic Accountant Finding Fraud in a Divorce

FraudFiles

Tracy Coenen talks with Miles Mason, Esq. about a divorce case of his in which a forensic accountant was able to find significant financial frau d.

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Vertex buys e-invoicing company Ecosio

Accounting Today

Tax technology company Vertex announced its acquisition of European e-invoicing company Ecosio

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Unlock The Power Of The CFO Toolkit

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

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How Much Cash On Hand Does My Business Need?

Summit CPA

How much cash does your business need on hand? We have a few rules of thumb for our clients that we'd like to share with you.

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TaxBit tool supports pricing justifications for digital asset accounting

Accounting Today

TaxBit announced the launch of enterprise-grade pricing feature within the TaxBit Accounting Suite.

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CAS needs to include client education

Accounting Today

All too often, clients literally don't know what their accountants are talking about.