Mon.Nov 20, 2023

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Navigating the AI Wave in Accounting | Part 2: The Cutting-Edge of AI in Accounting

Insightful Accountant

The digital transformation of the accounting world isn't just coming—it’s already here, and AI is leading the charge. In Part 2, we invite you, the tech-curious accountant, to roll up your sleeves and delve deeper into the AI toolkit.

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IRS Outlines Withdrawal Process for Employee Retention Tax Credit (ERTC) Claims

RogerRossmeisl

As reported via IR-2023-193 on 10/19/2023 Special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed an Employee Retention Tax Credit (ERTC) claim and are concerned about its accuracy.

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96% of Accountants Think Automation is Essential for Profession

CPA Practice

A new study on how accounting professionals feel about their profession, job satisfaction, and automation has found that, while they are overwhelmingly positive about the profession, there is a clear need for more automation. This is an opportunity for firms to provide better client and employee experiences and to gain a competitive advantage. These results were part of the study, “Automation: Putting Accountants on the Right Path,” which was commissioned by ShareFile , a business unit of Cloud

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Master Class in Automotive Modular Assembly

RogerRossmeisl

As posted to the AutoLine Network YouTube Channel on 9/11/2023 (Run Time 10 min, 13 sec) AutoLine’s John McElroy interviews Caresoft’s Han Ly at the International Motor/Mobility Show in Munich. Caresoft, a company that specializes in vehicle teardowns and benchmarking, provides insights into how Tesla designs its cars for modular assembly, notably how it eliminates fasteners and complexity.

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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Why Small Business Owners Should Sign Up for the New IRS Business Tax Account 

CPA Practice

By Melissa Angell, Inc. (TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. The new features will allow companies to check their tax payment history, make payments, view notices, and enjoy the benefits that an individual tax account offers.

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New rules proposed on credits for renewable energy property

Accounting Today

The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.

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More Trending

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Bonadio Group finds ways to attract more people to accounting firms

Accounting Today

The Top 50 Firm is improving its compensation and benefits to bring in more experienced professionals and young recruits.

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AvidXchange Releases Top Priorities and Trends for Finance Leaders in 2024

Insightful Accountant

AvidXchange report reveals top five initiatives finance professionals are considering when planning for the year ahead.

Finance 111
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Analysts Expect Thanksgiving Weekend Shopping to Surge

CPA Practice

An estimated 182 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey by the National Retail Federation and Prosper Insights & Analytics. This figure is 15.7 million more people than last year and is the highest estimate since NRF began tracking this data in 2017.

Start-ups 111
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QuickBooks Inventory, Sales and E-commerce Enhancements

Insightful Accountant

QuickBooks is enhancing their inventory, sales and E-commerce capabilities by incorporate components from QuickBooks Commerce which they acquired from Trade Gecko.

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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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Retail Sales Up 2.5% Year-Over-Year

CPA Practice

Retail sales kept up a long streak of year-over-year gains in October even though the rate of growth continued to slow, according to a statement from National Retail Federation Chief Economist Jack Kleinhenz. His remarks were in response to the U.S. Census Bureau’s most recent release of monthly retail sales data. “Fourth-quarter consumer spending stepped off on a more moderate pace, as expected,” Kleinhenz said.

Retail 111
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Maximizing Client Success: A Memorable Journey at the QuickBooks Connect

Insightful Accountant

Susan Pruskin shares her wonderful experience at QB Connect. Join her as she revisits her first ever Human Tunnel welcome, and amazing Main Stage Speakers.

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Top Remote Accounting Freelancers of the Week: November 20, 2023

Going Concern

Looking to staff up for a season or hire a freelancer for a project? Accountingfly is ready to partner with you! Gain full access to a pool of highly skilled and experienced remote freelance accountants ready to join your team with with no up-front cost. We are sharing a sneak peek of a few top freelance accounting candidates available this week with Accountingfly.

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Business Travel Expenses: What Companies Need to Know 

inDinero Tax Tips

Figuring out business travel expenses can be confusing. The IRS has many rules outlining deductibility, and without a well-thought-out system for tracking business expenses , maximizing deductions while remaining protected from an audit can be a challenge. This article is a part of our ultimate guide on business expenses and tax deductions. We’ll cover everything from the general rules and efficient record-keeping to incorporating tax-deductible personal days into your trip.

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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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Monday Morning Accounting News Brief: PwC Cheating Costs Juniors $21k; Watch That Busy Season Stress | 11.20.23

Going Concern

Good morning and happy pre-Thanksgiving Monday. It’s a short week so let’s just get this over with. Here’s an article from AccountancyAge on mental health in the profession : In the precise and structured realm of accounting, the topic of mental health is often an overlooked narrative. Behind the precision of financial statements and the clarity of audits, accountants confront a set of unique challenges.

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Art of Accounting: 10th anniversary column, looking forward to next 10 years

Accounting Today

Public accounting is rapidly moving into the future, and anyone who doesn't realize this will fail to remain competitive or viable.

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Millennials Will Be Spending Like It’s 2019 This Holiday Season Per the Deloitte Black Friday Report

Going Concern

Someone who’s good at both math and Googling should tally up how many reports Deloitte consultants crank out in a year, it’s got to be at least 1,000. Today it’s a timely one: Deloitte’s 2023 Black Friday-Cyber Monday Survey. Key takeaways from the survey of 4,318 consumers : Consumers plan to spend an average of $567 during the Black Friday-Cyber Monday (BFCM) shopping events (Thursday, Nov. 23 – Monday, Nov. 27), up 13% from last year.

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Weaver to merge in Buchbinder Tunick

Accounting Today

The Top 40 Firm based in Houston expanding its East Coast presence in New York, the Washington, D.C. area and New Jersey.

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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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New Jersey Society of CPAs Announces CPA Exam Lottery Winners

CPA Practice

The New Jersey Society of Certified Public Accountants has awarded 10 of its members $750 each towards their CPA Exam fee costs. The CPA Exam Fee Lottery winners, which are Affiliate or Student members of the NJCPA, were selected at random out of more than 50 entries. The annual lottery, which launched in 2019, was created to partially offset the cost of preparing for and taking the CPA Exam, which can exceed more than $2,500 considering enrollment fees, review courses, study guides and other pr

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Ted on Tech: Upgrading your office

Accounting Today

With the holidays coming fast upon us, it's time to start thinking about presents. Ted Needleman scoured the review pile to see what might be appropriate to update your office, or to gift to staff.

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CBIC Notifies Amnesty Scheme for filing of Appeal under GST till 31.01.2024 

VJM Global

Amnesty Scheme is a one time window that the government opens to complete compliance of earlier periods. Government keeps on announcing Amnesty scheme for various compliances so that those who have failed to carry such compliance by the specified due date may complete the same within new notified dates with less or no penalties. Similar to Amnesty Scheme of Filing of Annual returns , Filing application for revocation of cancelled GSTIN , CBIC has now announced an amnesty scheme for filing of App

Tax 59
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Is CRM worth it?

Accounting Today

Customer and client relationship management systems have come a long way, says Sarah Dobek of Inovautus Consulting.

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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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Business Travel Expenses: What Companies Need to Know 

inDinero Tax Tips

Figuring out business travel expenses can be confusing. The IRS has many rules outlining deductibility, and without a well-thought-out system for tracking business expenses , maximizing deductions while remaining protected from an audit can be a challenge. This article is a part of our ultimate guide on business expenses and tax deductions. We’ll cover everything from the general rules and efficient record-keeping to incorporating tax-deductible personal days into your trip.

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Compensation and beyond: New ways to recruit and retain

Accounting Today

The AICPA & CIMA's 2023 MAP Survey points the way to winning strategies in the war for talent.

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When Will 2024 Tax Refunds Come? 2024 Tax Season Questions.

CPA Practice

It’s almost December, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline to file returns being April 15 (which can vary based on weekends or state holidays). If you’re wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer.

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Overcoming legacy systems with data-driven solutions

Accounting Today

Accountants need to move from outdated platforms and embrace digital transformation.

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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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Yes, Carbon Neutrality Can Drive Profitability

Cherry Bekaert

Saving the Planet and Increasing Corporate Profits Simultaneously “We’re Proudly Committing to Net Zero Carbon Emissions by 2035”, reads the headline. Such long-term, carbon-neutral goals have become fashionable announcements for companies and ownership groups. They increasingly seem to be downright mandatory for consumer brands, otherwise risking enouncement by a “climate cancel-culture.

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A Closer Look: Engagements & Proposals

Canopy Accounting

Come get a closer look into Canopy's Engagements & Proposals, the first ever natively built Engagements functionality in a practice management software, and how it can help your firm decrease admin manual labor, deliver 5-star client experiences, and collect payment faster.

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Weaver to Add New York CPA Firm Buchbinder Tunick

CPA Practice

Top 35 accounting firm Weaver will be merging in New York-based CPA firm Buchbinder Tunick & Co. on Jan. 1, 2024. This deal expands Weaver’s East Coast presence to five offices, including two in New York City, one on Long Island, one in New Jersey, and one in Washington, D.C. It also adds 125 audit, tax, and advisory professionals, including 16 partners, to the Houston-based firm.

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Wise - Money without borders

Inform Accounting

We're proud to be partnered with one of the market-leading foreign currency accounts! Wise Business is the only business account you need to go global. It has everything you need to grow and operate internationally - without the high fees, hefty admin, and headache of a local bank.

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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.