Sat.May 07, 2022 - Fri.May 13, 2022

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How Cash Flow Statements Help Experts Find Fraud

RogerRossmeisl

Many fraud investigations focus on financial statements. Because cash is the most commonly stolen business asset, fraud experts regularly scrutinize statements of cash flow for signs of misappropriation and fraudulent disbursements. If you suspect occupational fraud and request an investigation, here’s what the experts might find. Unusual changes Your statement of cash flows shows how cash changed during the year.

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5 Crucial Pieces of Your Sales Tax Compliance Filing Process

TaxConnex

Once you’ve determined your requirement to collect and remit sales tax, you’ve set-up a process to charge sales tax, and you have registered with each required state, you need to consider how you will manage the return filing process. Many automated solutions claim they manage this process for you, but when reading through these important aspects, you may realize you’re the one left still managing the heavy lifting and each one is very important to ensure accurate and on-time filings.

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The Top 22 Questions to Ask in an Accounting Interview

Ryan Lazanis

When it comes to finding the perfect accounting professionals for your accounting firm, make sure that you have the right questions to ask in an accounting interview in order to get a sense of their qualifications and experience. Asking questions is the best way to determine if a job prospect is truly right for the job description, and it can also help you get a sense of their experience and expertise.

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Financial Benchmarks for SaaS Startups, a Self-Assessment Tool

BurklandAssociates

One of the most frequent questions Burkland CFOs receive from our SaaS startup clients and their investors is, “how do we compare to other SaaS startups?” It is a good Read More. The post Financial Benchmarks for SaaS Startups, a Self-Assessment Tool appeared first on Burkland.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Planning Cost Savings Through Power BI Platform Unification

Acterys

For over 20 years the Acterys founders have been very closely involved in the evolution of performance management processes working with most major technologies. Cost Saving and Process Efficiencies for Planning & Analytics Through Platform Unification. In this blog, we address the potential for efficiencies and cost savings through platform unification in organically grown, often very disparate approaches that we see at customers.

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What’s new: state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Florida sales tax exemptions on hurricane-preparedness items may soon encompass purchases of pet food, thanks to the lobbying of a local Girl Scout troop. Alabama ?has become the second state this year to expand its sales tax exemption involving gold and silver.

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Free Knowledge Growth Webinars

Withum

I am scheduled to present four free webinars primarily for CPAs, but anyone in business that uses financial statements might also find them interesting and insightful. Also, I am presenting an IRA/401k webinar for the general public and not accountants or tax professionals. Here is my schedule with brief descriptions. All webinars are 1-hour, and the times are Eastern time zone.

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Debits and Credits 101: Definitions & Example

Patriot Software

In accounting, there’s one thing you can’t ignore: how debits and credits work. To keep accurate books, you need to learn and understand the difference between a credit vs. debit. Otherwise, your books will wind up unbalanced and sloppy (and no business owner wants that!). To get to know debits and credits in accounting like […] READ MORE.

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Anders Named Finalist for the St. Louis Business Journal’s 2022 Corporate Philanthropy Award

Anders CPA

??????? ???????Anders has been named a finalist for the 2022 Corporate Philanthropy & Innovation in Philanthropy Awards in the Midsize Company category by the St. Louis Business Journal. This is the third year in which local partnerships are recognized for going above and beyond standard philanthropic practices in new and creative ways. Companies are selected based on those who gave the most in charitable contributions last year based on total cash and in-kind giving.

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How can APIs help modernize accounting firm technology

ThomsonReuters

Technology has helped tax and accounting firms to streamline their processes and automate countless time-consuming manual tasks. Firms regularly bring on new tools to address a specific business need. As new software versions become available, however, it can create a situation where some older software may no longer be able to communicate with the new ones.

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

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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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EIDL Rapid Portal Closes May 16 – Download Your Loan Docs NOW

Nancy McClelland, LLC

We learned this week that the EIDL is permanently closing their Rapid Portal on May 16th. What does this mean for you? If you haven’t already, download a copy of your EIDL loan agreement documents, and snap a screenshot of your loan number and save it to PDF for easy reference. Your bookkeeper and accountant will thank you for this — and you’ll thank them for insisting you do it!

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Patriot Announces Exclusive Partnership With Vestwell, Offering Affordable Retirement Plans for American Businesses

Patriot Software

Canton, OH Patriot Software, LLC, a leading accounting software and payroll provider, today announced an exclusive partnership with Vestwell to offer 401(k) plans with seamless payroll integration. Vestwell is the modern fintech engine powering savings and investment programs for small businesses and individual savers across the country. Patriot, powered by Vestwell, will offer 401(k) plans […] READ MORE.

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Withum Welcomes Megan Budd

Withum

Withum is excited to welcome Megan Budd to the Firm’s Cannabis Sector Services Team as an Audit Principal. With over 16 years of experience, Megan’s industry expertise includes healthcare, not-for-profit and employee benefit plans, in addition to her specialty in the Cannabis sector. She will grow the Firm’s presence in the industry in the New England region, complementing the efforts of Withum’s Providence, RI office.

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AccountingDepartment.com Chosen for 2022 Inc. Best Workplaces List

AccountingDepartment

It is our extreme honor and pleasure to announce that our company AccountingDepartment.com has been selected for inclusion in the 2022 Inc. Best Workplaces list. This award is truly the barometer of our success, and we are humbled to be recognized as a top workplace this year. Included in this honor are all our employees who make it such a wonderful place to be every day.

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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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The Small Business Guide to Revenue vs. Profit

xendoo

When running a small business, you’ll want to track revenue and profit. What is revenue vs. profit? Is one metric more important than the other? . While revenue and profit measure your business’s financial performance in different ways, the two metrics are closely intertwined. They are often used to gain a better understanding of your overall financial health. .

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Things Are Getting Spicy Between PwC UK Employees and Lord Sugar

Going Concern

After being called “lazy gits” in a tweet last Friday by British businessman, entrepreneur, and TV show host Lord Alan Sugar, who reacted negatively to PwC UK announcing that it would allow employees to take Friday afternoons off from June to the end of August, we were curious to see if any PwCers across the pond would respond to Lord Sugar’s rant. While the firm hasn’t responded, a handful of PwC employees have on LinkedIn.

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What is Superfund? How to prepare and comply

ThomsonReuters

What is Superfund? After more than 25 years, excise taxes on a specified list of chemicals and imported hazardous substances in the U.S. have been reinstated through the passing of the Infrastructure Investment and Jobs Act signed into law on November 15, 2021. The excise taxes, effective July 1, 2022, and the complexities around how they are levied pose serious challenges for companies that import, manufacture, produce, sell, or use any of the 42 taxable chemicals, and 150 listed substances, i

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9 Strategies to Find Rock Star Talent

Ryan Lazanis

Finding a rock star talent is one of the biggest challenges of being a business owner. Curious to know how and where to find them? In this podcast episode, I’ve shared my 9 best strategies so you can hire the right team member for your firm. Listen below. 0:46 – My first strategy is to leverage my existing team by asking them first if they know anyone for the new role. 1:28 – The second strategy is to create LinkedIn and Indeed job postings. 1:46 – The third strategy is to sea

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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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Study: Clients Want Accountants Who Use the Latest Technology | Canopy

Canopy Accounting

As accountants, you know the importance of client satisfaction—they are the backbone of your business after all. Wouldn’t it be nice to know what was going on inside their heads? Thanks to new research you can! Canopy commissioned a study that examines accounting client expectations.

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Back In My Day, Accountants Had to Walk Uphill Both Ways In the Hot Sun to Get to Work, Says Crotchety Old British Guy

Going Concern

British businessman, entrepreneur, and media person Lord Alan Sugar thinks employees of the Queen’s PwC are a bunch of “lazy gits [that] make me sick” for being allowed to take Friday afternoons off this summer. This is a bloody joke. The lazy gits make me sick. Call me old fashioned but all this work from home BS is a total joke. There is no way people work as hard or productive as when they had to turn up at a work location.

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An introduction to APIs: Are they right for your accounting firm’s tech stack?

ThomsonReuters

Of all the lessons learned during the pandemic, the need for reliable, anywhere/anytime business connectivity may have been the most startling—but arguably the most beneficial. Efficiency is one of the pillars of success in business. And efficiency is dependent, in large part, on streamlining processes as much as possible. Enter Automation. Automation can be an uncomfortable term for tax and accounting professionals.

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How does outsourced accounting work?

Basis 365

A recent survey by Intuit , the makers of QuickBooks, found that 89% of small-business owners believe they have more success working with an accountant. So what does this look like? And how can you find one? There are many options available, so it is crucial that you choose the right one. Of course, you can always hire a full-time, dedicated accountant.

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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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More Than You Think: The Cost of Employee Turnover

GrowthForceBlog

8 min read. The effects of the Great Resignation have left many companies in the lurch with productivity stymied while they struggle to fill open positions and smooth out operations while they function short-handed.

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6 Rules of Audit Room Etiquette

Going Concern

As workers return to the office, many auditors find themselves visiting client sites for the first time. Given the two-year in-person hiatus we’ve all just been through , even first-year seniors don’t know how to approach audit room protocols. So h ere are some key rules you should follow in the audit room whenever you do go back : Rule #1: Answer personal calls AFTER you are all the way out of the room.

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Tips To Stay Current on Your Bookkeeping

AccountingDepartment

You load up your Quickbooks file. It's back in January? But that was six months ago! Running a business takes a lot of time. It's easy to fall behind on things like bookkeeping. It's much worse if you're also falling behind on things like vendor payments and tax filings.

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Types of Trusts

KROST

In the last article in our series , we covered the benefits a trust offers for creators and beneficiaries. In this article, we’ll dive into more detail about the types of trusts that can be established and the pros and cons. Types of Trusts. Revocable Trusts. Revocable trusts (living trusts) can be changed or canceled at any time by the grantor (trustor, creator), who often acts as the initial trustee.

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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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Three Financial Statements Skagit County SMBs Need To Get Right

SkagitCountyTaxServices

If you’re a successful Skagit County business owner in this high-pressure time, you’ve learned to master the art of the pivot. Pivot on pricing, pivot on operations, pivot on hiring, pivot on supply, pivot on financials… Successfully pulling it off is impressive – really. As someone who works closely with a LOT of SMB owners, believe me, I know that it ain’t easy.

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Compensation Watch ’22: Big 4 Firm With the Most Negative Publicity In the U.K. Tries to Change All That By Giving Staff Raises of At Least £2,000

Going Concern

If you’re a regular visitor to this website, it shouldn’t be too hard to figure out which Big 4 firm we’re referring to: Carillion, loads of fines from the Financial Reporting Council, chairman’s rant leads to his resignation, Carillion, “unacceptable” bank audits, partners who are bullies, lawsuits, and layoffs. And did we mention Carillion? Yes, of course, it’s KPMG.

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A SOC 2 To Satisfy?

Withum

As organizations rely more and more on vendors, undergoing a Service Organization Control examination resulting in a SOC 2 report can help real estate service providers demonstrate security strength. The risks associated with using third parties continue to evolve, with multiple hands touching data from its origination point to its final destination.

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QBO Monday Minute: Tis the (Conference) Season to be Jolly

Intuitive Accountant

As this year's slate of events kicks into gear, ProAdvisor Liz Scott takes a look at what you need to have on your schedule—and why.

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Solve Your Firms 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.