Tue.Nov 07, 2023

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Spend Management Principles and Strategies for SMB's

AccountingDepartment

One of the most important aspects of running a successful business is managing the money that comes in and goes out. However, this can be especially tricky for small to medium-sized businesses, which often have fewer resources and smaller budgets to work with.

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Your need-to-know: vendor compensations and discounts | TaxConnex

TaxConnex

Hard to believe if you’ve ever dealt with sales tax jurisdictions, but they will actually give you a break on paying your sales tax in the form of vendor compensations and discounts. These discounts can also add up for large businesses that pay a great deal in sales tax every month to states where they have nexus , sometimes even more than paying for the services these companies use for sales tax compliance.

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Bring Home Your End-Of-Year Planning With Power BI

Acterys

The end of the year is often thought of as a time for celebration. But for finance teams, it’s also one of the busiest times of the year, and inefficient planning processes can lead to high levels of stress. Reviewing a business’s performance and financial situation, setting goals and developing a strategic plan requires a comprehensive view of business data.

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Procure-to-pay (P2P) — Everything you need to know.

Airbase

In this guide, we delve into the core of P2P, exploring its benefits for organizations, the software solutions that streamline the process, and best practices to overcome challenges. From simplified procurement processes to better control over spending and timely payment processing, each step offers insights into a system designed for efficiency and transparency.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Bring Home Your End-Of-Year Planning With Power BI

Acterys

The end of the year is often thought of as a time for celebration. But for finance teams, it’s also one of the busiest times of the year, and inefficient planning processes can lead to high levels of stress. Reviewing a business’s performance and financial situation, setting goals and developing a strategic plan requires a comprehensive view of business data.

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Academics Let AI Ruthlessly Slander Big 4 Firms, They’re Very Sorry They Didn’t Think to Fact Check

Going Concern

Generative AI is a powerful tool, most of all in the hands of people who know how to use it. Like all new technologies, things can also go awry when you let neophytes play around with it unsupervised. Particularly when you let the newbies play around with it unsupervised and then they take what the AI generated to a parliamentary inquiry and present it as fact.

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More Trending

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Nonprofits see revenue decline

Accounting Today

Not-for-profit organizations are putting more emphasis on cutting costs as they face the prospect of donors giving them less, according to a new survey.

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Layoff Watch ’23: PwC UK Needs a Few Hundred People to GTFO

Going Concern

Financial Times reported late yesterday that the King’s PwC will cut up to 600 jobs but first they’re going to try to get that many people to leave voluntarily. The historically low attrition rate over there has dropped even further to a mere ten percent. Given that a much higher amount of churn is baked into the business model, people gotta go.

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Many Retired Americans Aren’t Returning to Work as Predicted After Covid

CPA Practice

By Alex Tanzi, Bloomberg News (via TNS). More than three-and-a-half years after COVID struck, the U.S. still has around 2 million more retirees than predicted, in one of the most striking and enduring changes to the nation’s labor force. The so-called Great Retirement induced by COVID-19 is evident in the divergence between the actual number of retirees and that predicted by a Federal Reserve economic model.

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New Ruling Clarifies Local Sales Tax Rates for Multi-Location Businesses in Missouri

Anders CPA

When a business operates in multiple locations in the same state, complex sales tax regulations can often present a challenge. Special local sales tax districts, such as a community improvement or transportation development district, can exacerbate the difference in sales tax rates for business locations in neighboring municipalities. The Missouri Private Letter Ruling No.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Understanding the Uses and Limitations of Net Operating Losses

inDinero Tax Tips

If you know how to use net operating losses to your advantage, you can strategically time investments to save money on your taxes. You do this by using an unprofitable year to offset future profits, which may sound a bit complicated. Not to worry. In this guide, we’ll present the rules and limitations of net operating losses and demonstrate how to use them to save money and grow your business.

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3 Minutes with Francesca Tricarico

Accounting Insight

Francesca decided 11 years ago that she wanted to create a better life for herself and her children, so went back into education. She’d always had a passion for accountancy, so she worked hard and focused her efforts on joining a top practice. As well as studying, she did voluntary work in the industry to become fully immersed in the subject. After graduating in 2014 she joined a top local accounting firm (after applying twice), learning about all areas of the business before falling in love wit

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Register For the #IgnitionPrecon at QB Connect

Insightful Accountant

Insightful Accountant is thrilled to be kicking off QuickBooks Connect 2023 as a Silver Media partner for Ignition’s highly anticipated Precon party!

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IRIS 1099: What to Know About the Information Returns Intake System

Patriot Software

Do you need to file Form 1099-NEC, Nonemployee Compensation, Form 1099-MISC, Miscellaneous Information, or another 1099 type? You can use the IRS’s Information Returns Intake System (IRIS) to e-file 1099s. Here’s what to know about IRIS 1099 filing. What is IRIS 1099?

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Meet the 2023 Best Firms for Young Accountants

Accounting Today

A look inside the 10 best places to start a career in accounting.

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Why QB Desktop File Optimization May Fail

Insightful Accountant

Returning to his old ‘Desktop tech tinkering,’ Murph tips you off on how to prevent ‘file optimization’ failures.

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20 states that burden taxpayers the least

Accounting Today

The best five states have an average total tax burden of 5.97%.

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Master Year-End Close: 9 Tips for Seamless Financial Reporting 

Withum

As the year winds down, it’s essential for businesses to take a proactive approach to their year-end accounting and financial reporting processes. Year-end close is about wrapping up the past and setting the foundation for the upcoming year. To ensure your business closes its books accurately and is well-prepared for the year ahead, we’ve compiled the considerations below to guide you in your year-end close process. 1.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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Pillar Two tax concerns jump at large multinationals

Accounting Today

Many are considering extra hiring to handle the upcoming mandates, according to KPMG.

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How can we tackle stress in the workplace

Accounting Insight

According to recent surveys ( IPSOS ) almost two in five workers have had to take time off work due to stress in the past year. If this was a disease we could fight with a vaccine, it would have been declared a pandemic and vaccination enforced. There are approximately seven and a half million people in the UK living with a diagnosed mental illness right now.

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PwC to cut around 600 U.K. jobs

Accounting Today

The bulk of the cuts will be aimed at the advisory division.

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iplicit offers benefits of accounts payable automation to all its customers

Accounting Insight

The finance platform iplicit is offering the time-saving advantages of accounts payable (AP) automation to its full range of customers in the latest update to its product. iplicit’s own AP automation features will sit alongside the system’s ability to integrate with third-party applications such as Lightyear, offering a choice of ways to increase accuracy and digitise previously manual processes.

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Harness the Potential of Your Enterprise Knowledge

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

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10% of S&P 500 companies disclosed cybersecurity incidents

Accounting Today

Only four companies said the events were "material.

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3 questions you must answer before spending time and money seeking out new clients

Mark Lee

l am regularly approached by accountants who want to know how they can get more clients. And many more accountants are asking each other similar questions in groups on facebook. Invariably they want to know if social media is worthwhile, where to advertise, what marketing activities to pursue, what networking activities might be worthwhile, how to get more traffic to their website and much more – all in a similar vein.

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Krulak's Law: How frontline staff reflects your brand

Accounting Today

Very few firms are asking themselves how they can make sure their client service associates are doing the very best job they can.

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AI will only work if ethics and transparency are at the core, says leading global accountancy body

Accounting Insight

ACCA says benefits of AI can be realised as it pledges to ensure its members have the skills and ethical knowledge necessary ACCA (the Association of Chartered Certified Accountants) is urging the UK government to put ethics, transparency and governance at the heart of its AI (artificial intelligence) policy. As the UK government’s AI Safety Summit meets at Bletchley Park – one of the birthplaces of computer science – to discuss how AI benefits can be realised, ACCA says that the only way to ens

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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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AICPA Honors 11 Forensic and Valuation Professionals

CPA Practice

The AICPA recently recognized the contributions of 11 finance professionals during the 2023 AICPA & CIMA Forensic and Valuation Services Conference held in Las Vegas in November. AICPA, as part of the Association of International Certified Professional Accountants, hosts this annual conference to provide the profession with cutting-edge information on new technology and quality networking opportunities.

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Empowering Your B2B E-Commerce Customers With Self-Service

Withum

Self-service is becoming increasingly preferred in B2B e-commerce, with 99% of buyers willing to make a purchase in an end-to-end digital self-service model. This allows customers to place orders and manage their accounts without human interaction – giving them the flexibility and convenience to order anytime, anywhere. Without a doubt, customer behavior is changing.

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Black Ore Launches with $60 Million in Funding to Bring AI to Financial Services

CPA Practice

Black Ore , an AI platform for financial services, has launched and announced $60 million in financing led by a16z and Oak HC/FT. The company plans to use the funds to onboard new customers, grow its team, and accelerate the development of additional AI-products across financial services. Black Ore offers an AI and automation platform that accelerates core workflows for financial services businesses and simplifies the experience for their clients.

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Understanding the Uses and Limitations of Net Operating Losses

inDinero Tax Tips

If you know how to use net operating losses to your advantage, you can strategically time investments to save money on your taxes. You do this by using an unprofitable year to offset future profits, which may sound a bit complicated. Not to worry. In this guide, we’ll present the rules and limitations of net operating losses and demonstrate how to use them to save money and grow your business.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.