Canopy Accounting

JUNE 21, 2022

These days, social media is a necessity in today's business world. It's a place to make connections, network and keep a pulse on your industry. Search algorithms have become more sophisticated over the years and content across social channels continues to be curated towards users’ specific interests and needs. Social media is a powerful source of industry information if you’re engaging with the right accounts.

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accountant Account accounted 111

Accountant Advocate Submitted Articles

JUNE 15, 2022

MSPs & IT services are Nexus audit targets. Modern MSP finance expert explains interstate taxes and preparing your MSP for audits. Read how.

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audit Finance Tax 130

Patriot Software

JUNE 9, 2022

You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living? But, how often have you thought about the relationship between the cost of living and your business? If it’s crossed your mind before, then […] READ MORE.

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accountant accounted Account 142

ThomsonReuters

JUNE 6, 2022

The reality is, technical competence still lies at the heart of adding value. When you can flag changes in accounting, auditing, and tax that clients didn’t know about, and help them manage commercial impacts with innovative solutions, then you’re well on your way to gaining their trust. But how do you stay current on accounting and auditing standards when there are new developments happening all the time?

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accounting standards accountant Account accounted 142

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.

Account

Snyder

JUNE 17, 2022

With rapid development of technology and even more rapid increase in the amount of generated data, data analytics is defining the success of any business trying to keep up and provide the best customer experience. Competition in the marketplace is growing fast and the need to produce data-driven decisions promptly has never been more important. It means that the timeline for coming up with solutions is getting shorter and shorter.

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E-commerce Technology accounting and finance Finance 141

Withum

JUNE 17, 2022

We have seen an uptick recently in enforcement activity regarding paycheck protection program (PPP) loan eligibility and forgiveness. The Small Business Administration (SBA) typically pursues the civil investigations, usually by denying a loan forgiveness application and forcing the borrower to pursue an administrative appeal and then possibly an appeal in court.

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tax services business tax Tax 128

Xero

JUNE 16, 2022

As we look towards the new financial year, it’s the perfect time to reflect on what’s needed to make FY23 the best year yet for your business. One element that shouldn’t be underestimated is the tools and technology in your repertoire. Why? Our Xero Small Business Insights report shows embracing digital tools can help small businesses accelerate their growth. .

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Technology accounts payable Manufacturing Tax 117

Lockstep

JUNE 8, 2022

Email is not meant to solve your accounting workflow management challenges.

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accountant Account accounted 141

Intuitive Accountant

JUNE 7, 2022

While it might take a little more effort for small business accountants or owners to focus on sustainable practices, there are things you can do. Xero's Latisha Carter explains.

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accountant Account accounted small business accounting 105

ThomsonReuters

JUNE 9, 2022

QUESTION: One of our DCAP participants will soon take a ten-week maternity leave, following the birth of her second child. Her two-year-old child will be at home during this time instead of attending day care, but the provider will charge her half of the regular monthly fee to hold the child’s spot during the leave. Can our DCAP reimburse this fee?

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Tax accountant Account accounted 105

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.

Account

Withum

JUNE 24, 2022

The employee retention credit (ERC) started out slow but keeps going strong, even to the present day. . When it was first enacted on March 27, 2020 as part of the CARES Act, it received little fanfare because taxpayers that received a forgivable loan under the paycheck protection program (PPP) were prohibited from claiming the ERC. When that prohibition was lifted nine months later by the Consolidated Appropriations Act, 2021, claims for the ERC exploded.

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Tax audit tax return tax services 126

Going Concern

JUNE 9, 2022

Just about every e mployer in corporate America is singing the blues about talent shortages caused by the Great Reset and the Great Resignation. However, these effects are not being felt uniformly across all businesses. Those employers with a history of mismanaging their human capital , like the largest audit firms, are being hit the hardest. The public accounting business model has relied excessively on its ability to counter the effects of massive turnover with its ability to hire and train ma

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audit auditor public accounting cpas 125

Xero

JUNE 7, 2022

It’s no secret that end of financial year (EOFY) comes with its challenges for many self-employed Australians. Whether you’re a sole trader, side-hustler or freelancer, understanding deductions to super and taxes – on top of running your own show – is enough to make anyone’s head spin. Thankfully, there’s a way to make sense of it all. How? By talking to your advisor. .

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bookkeeping tax planning Tax accounting software 105

Ryan Lazanis

JUNE 9, 2022

Streamline your processes with this essential 1st step so you can focus on growing your firm and spend less time on the tedious work. Listen below. 0:58 – Technology is a great tool, but it’s not the first step to creating a firm that can scale and run smoothly. 1: 26 – What you offer your clients and how you standardize those offers is the first step to a scalable firm. 1:44 – The more ways in which you offer means you’re multiplying the number of processes required to service

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Technology accountant accounted Account 104

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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.

financial statements

Patriot Software

JUNE 2, 2022

Business owners often confuse margin and markup. After all, they both deal with sales, help you set prices, and measure productivity. But, there’s a key difference between margin vs. markup—and knowing this difference is how you can set prices that lead to profits. Unsure about the difference between markup and margin in accounting? We’ve got […] READ MORE.

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Sales accountant Account accounted 104

ThomsonReuters

JUNE 15, 2022

In the middle of a busy legislative season, several states have made important changes in their tax code that practitioners across the nation will want to be aware of in order to service clients who may have multistate needs. These legislative highlights have been grouped into two categories: new opportunities for tax relief and new tax obligations.

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Rhode Island Delaware Oklahoma Tax 105

Withum

JUNE 6, 2022

On May 27, 2022, the IRS released its sixth pronouncement regarding the types of businesses that can qualify for the qualified small business stock (QSBS) exclusion. The ruling is the fourth time the IRS has addressed the health exclusion in section 1202(e)(3) , the third time it has addressed the exclusion for businesses where the principal asset is the reputation or skill of one or more of its employees, and the first time the IRS has opened the door for pharmacy businesses to qualify for the

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Tax income tax Pharmaceutical Manufacturing 126

Going Concern

JUNE 7, 2022

As we watch gas prices tick higher and higher, commercial lessors and middle managers everywhere are anxious to get people back in chairs. Their chairs. Gross, old, shared-space, contains-the-farts-of-coworkers-past chairs. Nothing at all like the luxurious gaming chair your firm WFH stipend covered, though let’s be honest that one is harboring some ghost farts too.

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Gaming Georgia California Start-ups 125

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

Sales

xendoo

JUNE 22, 2022

The process of 3-way matching in accounts payable protects your business against incorrect or fraudulent invoices. It mitigates risks in your company’s spending by making sure you don’t overpay for services or fall for counterfeit invoices. It may sound like no one would fall for invoice fraud—when a scammer pretends to be a business partner or vendor and sends a company an invoice for services that they didn’t actually deliver.

accounts payable 101

accounts payable accountant Account accounted 101

Anders CPA

JUNE 30, 2022

Anders recently announced annual employee promotions across the firm, from audit and assurance to tax, advisory and operations. These individuals are being recognized for their professional achievements and ability to live the firm’s core values by delivering outstanding results for our clients and community. Join us in congratulating our recently promoted employees!

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audit Technology Tax payroll 98

SchoolofBookkeeping

JUNE 29, 2022

QuickBooks Online uses an Invoice Tracker to keep track of the online status of your invoices. The Idea is when you send an invoice, you will be able to confirm it was sent, seen, paid, and deposited. Sounds awesome, right? In theory, it works well, but when issues arise to the resulting payment, the Invoice tracker can be stuck, and show a nasty "NEEDS ATTENTION" alert on the invoice on your home screen or the invoice.

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quickbooks accountant Account accounted 98

Canopy Accounting

JUNE 27, 2022

One of the most productive things accountants can do during their morning commute is expand their knowledge by listening to industry-related podcasts. No matter what area of interest or specialization you may have, there's sure to be a podcast to satisfy that need. If you want to improve your professional skills and expand your firm, skip the self-help books and head straight for a podcast.

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accountant Account accounted 98

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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.

Withum

JUNE 27, 2022

Now that we are halfway through the new year, most companies have wrapped up their books and records for 2021 and sent them to their accounting professionals for tax and audit preparation. While the inclination can often be to consider the cleanup of accounting records to be an annual process, there are real benefits to a business in having a month-end close process.

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bookkeeping financial statements accounting and finance audit 123

Going Concern

JUNE 21, 2022

The big hurdle in EY’s plan to split audit and consulting lies in whether or not its partners want to take the risk per earlier Wall Street Journal coverage in which people familiar with the matter told WSJ its roughly 12,000 partners will need to vote to approve the spinoff. Well according to this it probably won’t be too hard to get partners on board.

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audit Healthcare Transportation financial statements 122

Snyder

JUNE 27, 2022

However big or small your business is, you’re familiar with the notions of accounts receivable and accounts payable as integral parts of accounting. These two ledger lists are available on your balance sheet and indicate how well your business is performing. They act as two sides of an equation – if you neglect either side, it will affect the financial health and stability of your venture.

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accounting basics accountant Account accounted 98

Anders CPA

JUNE 28, 2022

The Employee Retention Tax Credit (ERTC) has helped many businesses retain employees and recover from the effects of the pandemic. While the Infrastructure Investment and Jobs Act retroactively ended the ERTC for most businesses, eligible companies have three years after the program ends to look back at wages paid and claim the credit. Below is a flowchart to help determine if you can still take advantage of the ERTC.

CPA 98

CPA Tax 98

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.

Reckon

JUNE 23, 2022

Once upon a time the cloud was new and strange, and you could exceed in business without paying it any mind. That time has long since passed. With the ATO embracing digital record keeping and compliance methods, it’s only a matter of time before we see a wholly digital business ecosystem. However, focusing merely on compliance is an incomplete view of the march toward the cloud, as the business opportunities and simplicity inherent in integrated cloud solutions are tantalising and inescapable.

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E-commerce accounting software payroll accounting system 98

ThomsonReuters

JUNE 30, 2022

QUESTION: We’ve heard that our company’s group health plan must make public transparency disclosures that include MRFs. What are MRFs, and how often do they have to be updated? ANSWER: The agencies use the acronym “MRF” to refer to the machine-readable files that must be made public as part of the ACA’s price transparency requirement. Under implementing regulations issued in November 2020, most health plans and insurers in the individual and group markets must make transparency in coverage (Ti

Tax 98

Tax accountant Account accounted 98

Withum

JUNE 22, 2022

I receive at least 5 calls per year with some variation of this question. The callers are asking about the exclusion for capital gain on the sale of qualified small business stock (QSBS). By the time they reach me, the callers have already spoken with their local tax advisors and/or looked on the internet, and they know there is a 5-year holding period in order to qualify for the QSBS exclusion in section 1202.

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Entertainment Sales Tax Start-ups 122

Going Concern

JUNE 29, 2022

With the EY cheating scandal making headlines even outside of our precious little accountosphere we decided to take a look at the full SEC order to answer the question — how and why were EY auditors cheating on CPE exams? This post will be long so we’ll get deeper into the CPA ethics portion of the cheating debacle in another article. The long and short of it is, EY auditors trying to shortcut CPE took advantage of a software exploit.

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auditor audit CPA accounting principles 116

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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.