Wed.Aug 14, 2024

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How Streamlining Tech Can Supercharge Success

Insightful Accountant

Irana Wasti of BILL discusses how the economic volatilities of the past few years have been challenging for finance teams, with inflation and uncertainty driving efficiency pressures and creating cash flow concerns for some businesses.

Finance 52
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City and local sales taxes spike

Accounting Today

A new study reveals increases in both local and new tax rates across the country, highlighting an urgent need for revenue at the municipal level.

Tax 132
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IRS Extends Tax Deadlines for Hurricane Debby Victims in the Southeast

Withum

On August 9, 2024, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in all of South Carolina, most of Florida and North Carolina, and part of Georgia that were affected by Hurricane Debby. The relief provided in IR-2024-205 postpones various tax filing and payment deadlines that occurred beginning on August 1, 2024, in Florida, August 4, 2024, in Georgia and South Carolina, and August 5, 2024, in North Carolina – the postponement period.

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MBA edges out CPA for CFO candidates

Accounting Today

The CPA certification is the third-most valued credential for CFO roles, according to a report by the Pennsylvania Institute of CPAs.

CPA 130
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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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Xero Showcases New Tech and Integrations at Xerocon 2024 Conference in Nashville

CPA Practice

Small business accounting technology maker Xero opened its annual Xerocon event in Nashville, Tennessee, on Wednesday, hosting more than 1,000 accounting professionals, financial advisors, and business consultants. Worldwide, the Xero platform has more than 4.2 million subscribers. During the morning’s keynote session, Xero CEO Sukhinder Singh Cassidy welcomed the attendees and then discussed the accomplishments the company has made in the last year with “resetting foundations, shaping aspiratio

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Post-Debby tax relief expands to all Vermont

Accounting Today

Everyone in the state who was affected by the storm now has until Feb. 3 to file and pay.

Vermont 124

More Trending

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IRS Updates WISP Guide for Tax Pros

CPA Practice

A newly updated Written Information Security Plan (WISP) is now available from the IRS, designed to help protect tax professionals against continuing threats from identity thieves and data breaches. The updated 28-page template , “Publication 5708, Creating a Written Information Security Plan for Your Tax & Accounting Practice,” was announced by the agency and its Security Summit partners—representatives of state revenue departments and the tax industry—on Aug. 13 as part of their “Protect Y

Tax 111
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Revenue is Down More Than 5 Percent at EY Australia

Going Concern

Just the other day we were talking about EY missing its revenue target and many, many people on the payroll getting disappointed by this year’s promotions, raises, and bonuses as a result. We don’t have numbers yet as the firm won’t announce until September but we do have revenue results for EY Australia released today. You ready? EY Australia reported (unaudited) revenue of $2.81 billion ($1.86 billion USD) in FY24, down from $2.97 billion ($1.97 billion freedom bux) in FY23.

auditor 111
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How to Issue a Corrected 1099 (MISC and NEC)

Patriot Software

Do you file Forms 1099-MISC or 1099-NEC? If so, you might mix up the forms, enter incorrect information, or use a form from the wrong tax year. If you make a mistake on either form, you may need to issue a corrected 1099. “Mistake” is the last word you want to hear in business.

Tax 97
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Boosting Your Bottom Line with Financial Forecasting

AccountingDepartment

In today's competitive landscape, small and medium-sized businesses (SMBs) need every advantage they can get to thrive and grow. One powerful tool that can significantly impact a company's bottom line is forecasting.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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How to Simplify HR Processes When Compliance Feels Impossible 

Patriot Software

HR compliance can be a nightmare for overwhelmed small business owners. You need buttoned-up HR processes to avoid compliance-related penalties and lawsuits. This takes time—a commodity most business owners don’t have. Is it possible to streamline your HR processes to stay compliant with federal, state, and local regulations? Yes.

payroll 71
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Xero announces new features on bank recs, compliance, payments

Accounting Today

Diya Jolly, Xero's chief product and technology officer, announced several new products and enhancements for bank reconciliations, payments, compliance and more.

Tax 80
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New insights into how consumers are making payments

Xero

The way we pay for products and services is changing faster than ever, and as a small business owner it’s important to keep up with these shifts to meet customer expectations. As payment trends evolve, you need to have all the facts so that you can get paid as fast as possible. So we asked consumers, ‘How do you want to pay?’ and delved into what options small businesses were offering today as well as the administrative challenges of paying suppliers.

78
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Change management: 5 pitfalls that prevent change and how to overcome them

Accounting Today

First understand how things get done at your firm. Who needs to give a green light for an initiative to move ahead?

80
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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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Business Valuation: The Impact of Real Estate Ownership and Rent Adjustments

Withum

Typically, when performing a business valuation for SBA 7(a) purposes, the prospective buyer is seeking to purchase both the business and its underlying real estate from the seller. In these instances, it is important to ensure the relationship between the company and the real estate is addressed correctly. Otherwise, the business valuation may provide an unreliable conclusion.

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IPSASB clarifies requirements for first-time adoption of accrual basis IPSAS

Accounting Today

The International Public Sector Accounting Standards Board has proposed an update to its rules for first-time adoption of accrual basis International Public Sector Accounting Standards.

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AccountsIQ and IRIS Software Group announce strategic partnership

Accounting Insight

AccountsIQ , a leading provider of fully cloud-based accounting software, and IRIS Software Group (IRIS) , a global leader in accounting, edtech, and human capital management solutions, today announced a partnership to provide an integrated suite of cloud-based payroll, HR and finance solutions that empower businesses to streamline operations, facilitate cross-departmental collaboration, and help make data-driven decisions with powerful business intelligence insights.

payroll 64
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Xero to focus on accounting, payroll, payments in US, UK and Australia

Accounting Today

Sukhinder Singh Cassidy, CEO of Xero, outlined her "Win On Purpose" strategy, which involves a focus on accounting, payments and payroll in the US, UK and Australian markets.

payroll 75
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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Chaser introduces an advanced Revenue forecasting tool to improve financial planning

Accounting Insight

New feature uses machine learning to enhance revenue predictions and improve decision-making for businesses Chaser, the leading global accounts receivable SaaS provider, has launched the Revenue forecast. This new tool enables businesses to automatically predict future revenue, improving their financial planning and decision-making. Accurate revenue forecasting is essential for effective financial planning and business growth.

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Quality advisory doubles the acquisition probability for startups

Accounting Today

Accountants play a crucial role in guiding our clients through some of their most stressful moments — the challenges of growth and the complexities of the acquisition process.

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AICPA Says Supreme Court Decisions to Have Major Tax Impacts

Insightful Accountant

Recent Supreme Court decisions have sent shockwaves through the accounting profession, particularly in the realm of tax law. These changes introduce a level of uncertainty that may make many tax professionals uncomfortable.

Tax 59
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Field Trip to the Metropolitan Museum of Art

Withum

The Metropolitan Museum of Art (The Met) is one of the greatest museums in the world. Yet many people living in or surrounding New York City have never been there. Realizing this, for several years, I took a group of interns each summer on a day trip in Manhattan, culminating with an afternoon at The Met. I organized my tour centered around four works of art that have a connection to accounting.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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The Funding Games: 4 Considerations for Financing in Real Estate To Obtain Capital

Cherry Bekaert

While it may be an Olympic year, sponsors and developers are not ones to play games when searching for funding for their real estate deals. Rising inflation and interest rates coupled with legislative changes have created shifts and challenging hurdles in the real estate industry. Sources of traditional capital are under pressure due to economic uncertainty, and the industry is being forced to explore other funding avenues.

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The finance function of the future: as simple as ABC

Accounting Insight

What does the finance function of the future look like? While some might envision futuristic CFO holograms or robots handling invoices, industry insiders know it’s much more complex than that. Emerging tools such as AI and machine learning are revolutionising how finance teams operate. Here’s how these technologies are streamlining the accounting world of the future to be as simple as ABC.

Finance 59
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Advent acquires majority stake in Syspro

Accounting Today

Advent International, a global private equity investment firm, has acquired a majority stake in Syspro, a provider of ERP systems that employs 400 people globally.

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Penfold reaches £500m assets under administration, doubling in 12 months

Accounting Insight

Penfold (getpenfold.com), the innovative digital pensions provider, is excited to announce it reached £500m AuA, doubling assets from £250m in the last 12 months and achieving growth of 260% from £139m at the start of 2023. This robust growth trajectory has been driven by the rapid expansion of its workplace pension offering, enabled by a proprietary technology platform that helps accountancy firms and payroll bureaus streamline their clients’ auto enrolment obligations.

payroll 59
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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Xero Inventory Plus - an Introduction

Insightful Accountant

As part of our continuing coverage of various General Ledgers that might substitute for QuickBooks Pro-plus and Premier-plus Desktop, we are exploring a new functionality being offered by Xero, their 'Inventory Plus' option.

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The 5 Biggest Factors Impacting Your Firm’s Valuation (In Order)

Ryan Lazanis

Do you know what actually impacts your firm’s value? Discover the 5 key factors buyers consider when determining your firm's worth. The post The 5 Biggest Factors Impacting Your Firm’s Valuation (In Order) appeared first on Future Firm.

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Nearly half of Canadian Small Businesses face challenges steming from lack of financial literacy

Insightful Accountant

Xero study reveals 44% of owners figure out financial matters on their own, with nearly the same proportion facing fiscal challenges.

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Mental health: The best resources for small businesses in Australia

Reckon

Running a small business can be so incredibly rewarding. You’re completely in charge of making your dreams come true while not having to answer to a boss and doing something you love day in and day out. But running the show also comes with its own set of challenges and stresses, especially during busy periods of the year like tax time. Because managing financial pressures, giving your customers what they want and carving out some form of work-life balance can be overwhelming, having access to me

Tax 52
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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.