Thu.Feb 22, 2024

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Can Payroll Services Handle Direct Deposit?

Patriot Software

If you want to deposit your employees’ paychecks directly into their bank accounts, you need direct deposit. Direct deposit is a convenient payment method for employees, who receive their paycheck quickly and securely on payday. Most employers handle direct deposit through their payroll software. Payroll services calculate employees’ wages, taxes and deductions, and take-home pay.

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The changing state of e-commerce

TaxConnex

Not long ago, clicking a computer mouse to buy something was an idea of science fiction. Today, of course, e-commerce is how a significant amount of shopping takes place in general. Capital One reports that global e-commerce retail sales will hit some $6.91 trillion this year, up 9.5% from total e-commerce retail sales in 2023. Projections indicate that value will increase to $8.03 trillion in 2027.

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How to Take Control of SaaS Sprawl

Acterys

As organizations increasingly rely on cloud-based software solutions, the ease of subscribing to and implementing SaaS applications has led to a rapid growth in their adoption. However, this widespread adoption often leads to SaaS sprawl. As a result, CIOs and CTOs are faced with increased costs, security risks, and integration complexities. According to Gartner, 61% of software buyers plan to increase their technology investments in 2024.

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Firms grapple with sustainability reporting and assurance

Accounting Today

Most companies are providing some disclosures about their sustainability efforts, but not as many are getting assurance on their numbers from auditing firms.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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PwC’s Moving to a New Office in Nashville That’s Three Times Bigger Than the Old One

Going Concern

Reported by Nashville Business Journal , PwC will be leaving its current Nashville space in the annoyingly named SoBro district and relocate to a 30,119-square-foot space at the as yet unfinished Nashville Yards development. If this isn’t a blaring signal that the firm is counting on its people getting back to the office, we don’t know what is.

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Tax Fraud Blotter: Cheesy

Accounting Today

Repair thyself; this beauty's a steal; oh mama; and other highlights of recent tax cases.

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Ultra-wealthy's corporate jet is latest IRS crackdown

Accounting Today

The agency will begin three to four dozen new audits this spring to see if inappropriate deductions were made.

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2024 SEC Filing Deadlines and Financial Statement Staleness Dates

Cherry Bekaert

Financial statement issuers must assess many items when planning to file a registration statement with the U.S. Securities and Exchange Commission (SEC), including which financial statements are required to be included in the registration statement. Many factors are considered when determining the appropriate financial statements to include in the registration statement, such as the appropriate filing status of the company, pro forma financial statement requirements, transactions, acquisitions,

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Giving Some Love to the Concierge Accounting Practice

Insightful Accountant

Imagine a scenario in which you could devote more time to actually partnering with your clients to solve their issues and provide them solutions, rather than simply handling their books or processing their tax returns.

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Rethink Your Sales Approach with Diane Helbig

Summit CPA

Virtual CPA Success Show Podcast Episode 111 Jody and Jamie welcome author and business advisor, Diane Helbig. Diane shares her expertise in sales, emphasizing the need for a shift from traditional sales techniques to a more comfortable, trust-building approach. The conversation covers the importance of being a trusted resource, hiring strategies, transitioning from traditional sales models, and the value of curiosity and learning new skills.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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Amazon Considers Introduction of Veterinary Telehealth Services

VetCPA

Amazon is considering the introduction of veterinary telehealth services, according to CNBC , following in the wake of Walmart, which made them available earlier this year to its Walmart+ subscribers. Sources familiar with the matter said Amazon could turn to Pawp to fuel a potential pet telehealth offering in time for the holiday season. Pawp currently works with Walmart, although its agreement with the retailer is set to expire on November 19th.

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What Artificial Intelligence Means for the Future of Accounting in 2024 and Beyond

Insightful Accountant

AI, especially ChatGPT by OpenAI, took over tech news. Speculation on its impact on industries and professions is high. As tax season nears, maximizing tech efficiency is a priority.

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The top 5 AI terms corporate tax professionals need to know

ThomsonReuters

Developments in artificial intelligence (AI) are advancing rapidly all the time, and it’s set to play an increasingly important role in everyday life and the professional landscape. It is inevitable that in the next few years, it will impact – and even transform – how corporate tax professionals go about their work. The good news is, AI should solve many pain points and make it easier (and quicker) to do a good job: cutting out repetitive processes and minimizing the risk of error, while e

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Tax Insights for Indian Companies in the U.S. Market

Cherry Bekaert

There are incredible advantages to expanding and conducting business in the U.S. that encourage Indian companies to grow globally. When beginning to look at the implications and regulations in the U.S., one item to take into careful consideration is U.S. sales tax. As businesses in India are accustomed to the goods and services tax (GST) on their goods and services, the U.S. sales tax regime often mystifies international sellers.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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A Failed Business Strategy Tale for Skagit County Owners

SkagitCountyTaxServices

We’re less than a month away from March Madness. The NCAA recently released the tournament schedule with locations, if you’re wanting to see your favorite team play in person. Or you just want to mark it on your home calendar so your family knows you’ll be commandeering the living room TV for a few weeks. Something to mark on your office calendar, that’s also less than a month away: The March 15 S-corp and partnership filing deadline for 2023 taxes.

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IRS free tax system moves into public test phase

Accounting Today

The Internal Revenue Service's Direct File pilot program has expanded beyond internal testing of its free tax prep system to taxpayers in a dozen states.

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Leveraging Live Forecasts to Drive A Successful Business

AccountingDepartment

Forecasting in business has long been the compass that guides strategic planning and resource allocation. Traditionally, forecasting relied on historical data to project future trends, a method with inherent lag times and uncertainties. However, as markets become more dynamic and volatile, the value of traditional forecasting is waning. Enter live forecasting—a real-time analytical process that allows businesses to make agile, informed decisions, keeping their finger on the pulse of a rapidly ch

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Valid8 Financial Launches “Stories” to Accelerate Financial Fraud Investigations

CPA Practice

Valid8 Financial, a maker of the Verified Financial Intelligence solution, has launcged Stories , a new capability allowing users to quickly separate transactions of interest and group them into different collections to understand how financial activities unfolded over time and across locations. Stories builds on Valid8’s existing AI Categorization capabilities to provide investigators with a new, more powerful way to identify questionable transactions, including checks, deposits, transfers a

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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House Passes the Tax Relief for American Families and Workers Act of 2024

LSLCPAs

The Tax Relief for American Families and Workers Act of 2024 was passed by the US House of Representatives on January 31, 2024. As the Bill moves to the US Senate in its current draft for passage, the Bill is to provide much anticipated business tax relief, expansion of the Child Tax Credit’s refundable portion, The post House Passes the Tax Relief for American Families and Workers Act of 2024 appeared first on LSL CPAs.

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CohnReznick Earns Award for M&A Restructuring

CPA Practice

CohnReznick LLP, an advisory, assurance, and tax firm, has been recognized by The M&A Advisor with the Sec. 363 Sale of the Year Award ($10 MM – 50MM category) for its advisory work in the restructuring and sale of Winc, Inc., a wine club, wholesaler, and online retailer. The M&A Turnaround Awards recognize noteworthy distressed transactions, restructuring, refinancing, products and services, firms, and professionals in the United States and international markets.

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NetSuite Ending Support for 2FA Security Functionality

Withum

In March 2023, Oracle NetSuite announced that users who are setting up or resetting their NetSuite 2FA (two-factor authentication) configurations need to download and use an authenticator app to generate verification codes. Getting codes by SMS is no longer available for users who are setting up 2FA for the first time, or for existing users who modify their 2FA settings.

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Docyt Combats U.S. Accountant Shortage with the Launch of Docyt University

CPA Practice

Docyt , a provider of AI-driven accounting automation technology, has launched Docyt University as a free resource for accountants and other financial personnel to train and become certified on the latest advanced AI accounting tools. The rich online curriculum centers on AI-driven accounting automation techniques that streamline workflows, improve accuracy, and give accountants a clearer path to achieving their business objectives.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Progressive Web Apps in the Future of Website Interface Design 

Withum

In the dynamic realm of web development and website interface design, Progressive Web Apps (PWAs) emerge as a potent force for elevating user experiences. This blog post navigates through the core principles of PWAs, explores upcoming features and illuminates the exciting advancements in Progressive Web Apps technology that are poised to reshape the digital landscape in 2024.

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ADP Adds AI Partner Solutions to Its ADP Marketplace

CPA Practice

ADP Marketplace, the world’s largest digital HR storefront with over 800 partner solutions worldwide, is enhancing the client experience by offering AI-enabled, integrated partner solutions. ADP Marketplace now provides clients with greater ease and confidence in identifying and selecting these solutions for their companies. ADP Marketplace has adopted responsible AI principles to which all its partners offering AI-enabled solutions must commit.

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Using the Backsolve Method for stock-based compensation

Accounting Today

If you audit or manage a startup company or other privately held business, don't overlook the treatment of stock-based compensation.

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Only the Dumb Firms Monitor Badge Swipes

Going Concern

Monitoring badge swipes fosters a culture of distrust and only discourages people from coming to the office says Nahla Khaddage Bou-Diab in this Accountancy Today article. Khaddage Bou-Diab is credited as a “former EY leader” in the piece, per her LinkedIn she spent three years there as a management consultant at the turn of the century.

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AP Automation: The Competitive Advantage Your Business Needs

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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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Genetec Launches Enterprise-Grade, Unified SaaS Solution

CPA Practice

Genetec , a technology provider of unified security, public safety, operations, and business intelligence solutions, has launched Security Center SaaS. Built with cybersecurity and privacy at its core, the new offering is a massively scalable, open, and unified software as a service solution (SaaS). Combining access control, video management, forensic search, intrusion monitoring, automation, and many other advanced security capabilities, Security Center SaaS ushers in a new chapter in the techn

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VyaPay - Payments for a New Age

Insightful Accountant

VyaPay offer fully-embedded and on-demand payment solutions that are easy to implement and capable of handling your future demands.

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Digital Asset Risk and Regulatory Compliance Expectations for 2024

CPA Practice

Executives involved in managing digital assets like digital currencies, digital securities, and stablecoins expect digital asset risks to increase and the regulatory environment to become more complex in 2024, according to a recent Deloitte poll. Related investments at most organizations are expected to remain flat. Looking at the next 12 months, nearly one-quarter (24.7%) of respondents believe that the number and size of digital asset risks their organizations must manage will increase.

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Handling Customer Prepayments and Deposits in QuickBooks Enterprise 2024

SchoolofBookkeeping

New for Quickbooks Desktop 2024!! The ability to accept Customer Prepayments and deposits has been added into QuickBooks Enterprise 24 Customer prepayments (customer deposits) are when you get money before a product or service is done. You don't have an invoice for the payment yet. To manage prepayments in QuickBooks Enterprise 24.0 or later: Receive customer prepayments Step 1: Turn on ‌prepayments Go to Edit , and then Preferences.

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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.