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Policies and procedures are a formalized way of defining how a company chooses to run their business. They may not be written down or overly detailed, but even the smallest companies have their own way of doing things. When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars.
RESOURCES / ARTICLES. Rapidly Growing an Accounting Firm: An Interview with Glenn Hetzel. In a wide-ranging interview, Glenn Hetzel, Managing Partner of Glenn B. Hetzel & Associates, CPAs spoke frankly and clearly on the many challenges and opportunities related to growing an accounting business. Here are excerpts. Some Background on Glenn. After graduating from the University of Miami, Glenn joined a large regional accounting firm and then their largest client – an international conglomerat
Google’s transition to SAP Ariba ‘s cloud-based services has a completion date set for Aug. 24 after multiple waves that began last October, according to a press release. The final wave concerns the Asia Pacific region. Last October, U.S. suppliers were switched over, and in May of this year, the rest of North America, Latin America, Europe, the Middle East, and Africa made the jump, the release says.
How Law Makers Working to Make PPP Loan Expenses Deductible & How You Can Help. As you read this, it’s likely that your lawmakers are working on the next Payroll Protection Program (PPP) package. And hopefully, in this next package they will include a provision that allows you to deduct business expenses that you pay with your PPP money. Let’s explain.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
If you want an easy and stress-free business life, one of the best tips we can give you today is to stay on the IRS’ good side and to not tick them off. Payroll tax resolution issues are amongst the most common reasons for the IRS pursuing Los Angeles or other cities, business taxpayers, or individuals whom they deem should be responsible taxpayers, which is why it’s important to ensure that you resolve any payroll 941/940 tax problems sooner, rather than later, should they arise.
Automating small tasks can make a huge impact, here's why. A recent survey of 280 US companies found 62% of business owners have identified three or more major inefficiencies in their manual business processes that could be resolved with automation. As new forms of automation are transforming the work world, more and more companies are taking the leap from manual business processes to automated solutions.
Waze, the popular GPS navigation app owned by Google, has introduced contactless payments for ExxonMobil and Shell card holders in the U.S. When drivers pull into participating stations, they will see a notification on Waze prompting their Android or iOS device to securely pay through each company’s app. “Waze is committed to continuing to help businesses leverage innovative technology to adapt, evolve, and engage with customers,” said Andrew Kandel, Waze U.S. country manager, in a statement.
Waze, the popular GPS navigation app owned by Google, has introduced contactless payments for ExxonMobil and Shell card holders in the U.S. When drivers pull into participating stations, they will see a notification on Waze prompting their Android or iOS device to securely pay through each company’s app. “Waze is committed to continuing to help businesses leverage innovative technology to adapt, evolve, and engage with customers,” said Andrew Kandel, Waze U.S. country manager, in a statement.
Four PPP Forgiveness Answers for S-Corp Owner-Employees. Tax law definitions do not apply to much of the Payroll Protection Program (PPP), making it new ground for owners of S corporations. Here are answers to four questions of concern to many S corporation owners. Spouse Owns S Corporation. Question. My wife owns 100 percent of the S corporation. She has a full-time job and does no work for the S corporation.
Policies and procedures are a formalized way of defining how a company chooses to run their business. They may not be written down or overly detailed, but even the smallest companies have their own way of doing things. When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars.
RESOURCES / ARTICLES. Succession: Starting Early and Communicating Clearly. Working closely with over 200 accounting businesses across three continents, we get to watch their evolution and be a part of their success. Many milestones are achieved such as revenue goals, income goals or launching a new service. A critically important milestone is succession : the act of transitioning the business to new owners.
Real time is getting ever closer to prime time. But it might not be the Federal Reserve ’s doing. You’d be forgiven for thinking that faster payments might be the purview of the U.S. Federal Reserve, where details (a roadmap, really) of FedNow , the proposed instant payment system, were released earlier this month. But with a 2023-24 timeframe to implementation, the Fed’s efforts will take a while to cross the Rubicon from concept to reality.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Katz, Sapper & Miller, a leading consulting, tax, and audit firm, is pleased to announce that George Batalis has joined the firm as managing director of healthcare consulting in its Healthcare Resources Group.
If you want to learn how to do fraud investigations from a forensic accountant what has over 20 years of experience in the field… here’s your chance! This course is for: Accountants who want to begin doing financial investigations. Investigators who need training on the financial aspects of investigations. Students considering a career in forensic accounting.
Income taxes are one area where your clients can make a substantial number of mistakes when planning for retirement. Many individuals do not have the knowledge or training necessary to protect their client’s retirement correctly. Thousands of dollars may be forfeited in this way, resulting in a lower standard of living for your clients. Retirees […].
With back-end digitization no longer an option for the financial services sector, adoption of cloud infrastructure is a vital — yet often painful — process for financial institutions (FIs), FinTechs and other organizations. The biggest friction points are often traced back to the sheer size of the project. Migrating apps and data from on-premise systems into the cloud can seem an overwhelming task, and indeed, there are many pitfalls and mistakes organizations can make in the process.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
On Saturday, Aug. 8, President Trump signed four executive actions meant to provide economic relief in the midst of COVID-19. In one such action, the president directed the Secretary of the Treasury to defer collection of the employee portion of the Social Security tax (6.2%). The deferral will only be available to employees that generally make less than $4,000 during any bi-weekly pay period (approximately $104,000 per year) and applies to wages paid during the period of Sept. 1, 2020, through
The relationship between traditional banks and the slate of FinTechs that have arisen over the past decade hasn’t always been one of enthusiastic cooperation. Big banks tended to view FinTechs and their offerings with suspicion — meaning that in the early days, startups often had to beg banks for access to the infrastructure to build it out better. Although it wasn’t easy for either side, the landscape has begun to change, Payoneer ’s General Manager Eyal Moldovan told PYMNTS in a recent convers
If you are interested in not just tracking your credit score, but finding ways to boost it, American Express may have the product for you. On Tuesday (Aug. 11), Amex launched Score Goals , an online platform that augments and expands the card company’s established credit score tool, MyCredit Guide. The new offering, which is available to consumers whether or not they are American Express cardholders, “includes a range of information and tools to help them understand their credit score better and
China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving billions in loans unpaid. Now, Guo Shuqing, chairman of the China Banking Regulatory Commission, the nation’s top banking regulator, said investors have been saddled with more than 800 billion yuan ($115 billion) in debt from the failed platforms, Bloomberg News reported.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
There’s been no shortage of big payments and FinTech announcements over the past few days, such as Apple ’s bundle bet, Goldman Sachs ’ move to bid on the General Motors credit card or Square ’s decision to test small-dollar, short-term loans. Meanwhile, not-quite-household names (yet) like Blend are quietly snapping up big investor dollars and impressive valuations to push laggard industries into the digital commerce ecosystem.
The eCommerce landscape is shifting on multiple fronts, with sellers embracing digital channels and adjusting their business models to a new reality of customer demands. Disruption is hitting both the B2C and B2B arenas, and while it would seem they are two opposite ends of the spectrum, these ecosystems share commonalities in the kinds of trends that force sellers to modernize their market strategies.
Selling an EMV 3DS (also referred to as 3DS 2.0) product to merchants hasn’t always been smooth sailing. When PAAY , a software-as-a-service company that protects merchants from fraud and increases authorization rates first started offering EMV 3DS, it had to do a lot in educating potential clients in the face of many saying: “We don’t want to hear about this.
Amazon ’s epic push to deliver its own packages and cut out third parties like FedEx is picking up speed during the pandemic, with a dramatic year-over-year gain in July. As of July, Amazon was shipping 66 percent of its own packages, up from 55 percent last July, according to CNBC’s Squawk Box , citing stats from ShipMatrix. The world’s largest retailer has managed this feat even as the volume of packages ordered and shipped through Amazon has exploded amid the pandemic, with volume up 46 perce
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Digital dollars on the horizon? Maybe – but first comes a focus on policy. A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. In a speech delivered by webcast at the Federal Reserve Board and Federal Reserve Bank of San Francisco’s Innovation Office Hours, Fed Governor Lael Brainard said that t
Airbnb Inc. took a record hit in revenues in the second quarter (Q2) and its losses continued to mount as global travel was restricted to prevent the spread of COVID-19. Sources told Bloomberg News in advance of the release of Q2 earnings that the San Francisco-based online vacation rental marketplace’s revenue fell to $335 million in the period ending June 30.
If America ever needed a digital estate sale — or even a garage sale, for that matter — it’s right now. Tens of millions of financially strapped or suddenly unemployed people are seeing rent and bill payments locked in the form of gifts and purchases they’re ready to part with. What they need is an online auction marketplace. Plenty of those around.
Retail has been among the sectors most dramatically impacted by the pandemic, though it’s impossible to paint the industry with a broad brush. With widespread furloughs and a growing wave of bankruptcies , many retailers were hit hard. Others were caught up in an unexpected boom, though that doesn’t mean they’ve evaded the volatility of the pandemic.
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.
From a lack of supplier acceptance of electronic payments to outdated infrastructure within accounts payable (AP) departments, the B2B payments ecosystem still has much room for improvement on multiple fronts. Moving the needle in the journey away from paper checks isn’t a one-sided battle, either. Indeed, solving some of the biggest AP challenges increasingly requires aa strategic focus not just on the payer, but on the supplier accepting that transaction.
To gain riches – go public or stay private and sell to a high bidder? In a stock market that seems to continuously flirt with new highs, the answer seems to be: Aim for the IPO. To that end, as reported earlier this week, BigCommerce , the software as a service (SaaS) firm that focuses on eCommerce, went public, surging more than 200 percent on its first day of trading.
The California judge who ruled that Uber and Lyft have to classify their workers as employees reportedly “saw straight through” the “bogus argument” that the companies’ workers like being classified as independent contractors instead. CNBC reported that California Attorney General Xavier Becerra , speaking on the “Squawk Alley” program on Tuesday (Aug. 11), agreed with the judge’s decision, which mandated that Uber and Lyft had to reclassify their workers as e
To provide banks serving small- to medium-sized businesses ( SMBs ) throughout the globe with the newest technology and insights, Mastercard and Pollinate have agreed to a strategic partnership. The collaboration comes after Mastercard’s investment in the company last year, according to a Friday (Aug. 14) announcement. “Our work with Pollinate and the wider issuer and acquirer solutions ecosystem supports our collective goal to offer digital payment solutions for small- and medium-size businesse
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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