SMBAccountant

JULY 29, 2020

Budgets are necessary for any business. They help develop strategy, control costs, and are a great internal control. Many small businesses have difficulty developing a budget, especially during their startup or high growth periods. Budgets may be the most artful part of accounting. They are a best guess, and a goal to work towards. Government contractors have an even harder and more dire concern when it comes to cost plus contracts.

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Government accountant Account accounted 190

Bharmal&Associates

JULY 30, 2020

IRS Enables Millions to Qualify for the $100,000 Grab & Repay. New IRS guidance expands the possibilities for what is an adverse COVID-19 impact on you for purposes of taking up to $100,000 out of your retirement accounts and repaying it without penalties. First, let’s look at the rules as they existed before this new IRS guidance. The CARES Act created the first set of favorable rules, and those rules are still in play.

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tax return Tax cpas Start-ups 130

PYMNTS

JULY 26, 2020

India has embraced its model for digital payments so much that it intends to take it global. Since its debut four years ago, India’s Unified Payments Interface (UPI), the instant payment system developed by the National Payments Corp. of India (NPCI) that facilitates inter-bank transactions, has propelled the growth of online payments, the Financial Times (FT) reported.

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Government accountant Account accounted 123

GrowthForceBlog

JULY 29, 2020

GrowthForce CEO Stephen King, sat down with Chris Reynolds of The Business Method Podcast to discuss his experience in Surviving 5 Recessions as an Entrepreneur. Stephen King shared key steps to take when navigating through a recession , and some of the major lessons he learned as a CEO facing his 6th recession.

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accounting system accountant accounted Account 86

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

SMBAccountant

JULY 29, 2020

Budgets are necessary for any business. They help develop strategy, control costs, and are a great internal control. Many small businesses have difficulty developing a budget, especially during their startup or high growth periods. Budgets may be the most artful part of accounting. They are a best guess, and a goal to work towards. Government contractors have an even harder and more dire concern when it comes to cost plus contracts.

Government 100

Government accountant Account accounted 100

Bharmal&Associates

JULY 30, 2020

IRS Provides Clarification on PPP Loan Forgiveness for the Self-Employed. How much is clarity worth? A lot, a whole lot. And how much is making things easier worth? Of course, it’s a lot, a whole lot, too. We now have both the new (a) clarity and (b) easy road to Paycheck Protection Program (PPP) loan forgiveness for the self-employed with no employees.

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payroll cpas Transportation business accounting 130

Katz,Sapper&Miller

JULY 30, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law earlier this year, provided multiple forms of economic relief for the real estate industry in the midst of the COVID-19 pandemic. The IRS has recently announced updates to this legislation, as well as updates to real estate-friendly legislation included in 2017’s Tax Cuts and Jobs Act (TCJA).

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Real Estate Tax 52

GrowthForceBlog

JULY 28, 2020

In recents discussions with the IT team, we uncover answers to pressing questions during this time when companies are transitioning to more remote staff.

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Bharmal&Associates

JULY 30, 2020

COVID-19 Relief if You Work Abroad or Travel to the U.S to Work. If the federal tax you pay is dependent on where you are physically located, then COVID-19 likely has thrown a wrench in your physical tax location (and tax situation). If you were living abroad and had to return to the U.S. because of COVID-19, you may wonder if you’ll have a big tax bill for failing to meet the foreign earned income exclusion requirements.

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Tax cpas Start-ups 130

PYMNTS

JULY 31, 2020

Tests of truly autonomous self-driving vehicles have been uneven at best, but with each scraped test hubcap, the concept draws closer to reality. Major automakers are in, with Toyota backing autonomous driving startup Pony.ai and Fiat Chrysler striking a deal with AutoX , the Hong Kong-based firm that has developed an artificial intelligence (AI) platform for driverless vehicles.

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Technology California B2B Education 118

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

Katz,Sapper&Miller

JULY 28, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law March 27, 2020, provided multiple forms of relief for owners of retirement accounts. The IRS has recently issued additional guidance on these provisions via Notice 2020-50 and Notice 2020-51, providing even further relief for retirement plan owners.

accountant 52

accountant Account accounted 52

PYMNTS

JULY 29, 2020

With the economic and political battles between the U.S. and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions. The bank’s messaging applies to Hong Kong and Macau as well. With U.S. sanctions against China looming, state lenders there have reportedly been developing contingency plans.

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Maine 116

PYMNTS

JULY 28, 2020

The bank-FinTech collaboration model is often about wielding digital-native FinTech solutions to fit within bank offerings. Yet this week’s look at the latest tie-ups reveals new models of collaboration, including FinTechs expanding their footprint within banking, and wielding banks to fit within their own tech solutions. Kabbage Steps Into Banking.

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accounting and finance Technology Finance Government 111

PYMNTS

JULY 30, 2020

Large pharmacy chains selling mixed merchandise are a mainstay of life throughout the developed world. Familiar planograms with the pharmacy in back, pulling shoppers through rows of candy and cosmetics to get their medicine is an everyday routine. Or it was. Big Pharmacy’s reliance on the sale of non-pharmacy products — a strategy that’s worked for years — may now be an Achilles’ heel in a post-pandemic battle for prescription drug market share, where waiting on pharmacy lines with sick people

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Healthcare Non-Profits Hospitality Retail 110

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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

PYMNTS

JULY 29, 2020

As virtual marketplaces displace (and replace) the physical variety at a dizzying pace, payments speed and security are paramount concerns. When transactions and payments occur cross-border, those concerns are doubled. Companies want and need more visibility into cross-border payments, and with the blastoff of eCommerce in 2020, those needs grow daily.

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PYMNTS

JULY 31, 2020

Corporate travel manager CWT paid $4.5 million worth of bitcoin in ransom this week to hackers who said they seized control of 30,000 company computers and two terabytes of data, Reuters reported on Friday (July 31). The news service said it learned details of the negotiations between Minnetonka, Minnesota-based CWT and the unidentified hackers because the talks played out in a publicly viewable chat room.

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PYMNTS

JULY 28, 2020

“Be careful what you wish for – you just might get it.”. That ancient proverb, one oft-repeated by mothers and fathers to their daughters and sons over generations, also applies to PayPal’s Darrell Esch’s path to his new role as general manager of Venmo. A 10-year PayPal vet, most recently in the role of senior vice president of credit, Esch told PYMNTS CEO Karen Webster that he was once asked years earlier if there was any other job at the company that he’d like to have.

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Maine Start-ups Retail 104

PYMNTS

JULY 26, 2020

Wells Fargo is engaging in significant cost-cutting, including layoffs, in a bid to become more lean amid the pandemic-induced financial crisis, The Wall Street Journal (WSJ) reported. The total number of layoffs hasn’t been finalized yet, according to WSJ, but they are expected to be in the tens of millions, although they won’t all happen at the same time.

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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

PYMNTS

JULY 27, 2020

Although there are countless ways a cybercriminal can swindle funds from a company — either from the outside or within — it’s often the invoice at the center of the crime. This week’s Data Digest looks at the latest in B2B payments fraud and the invoice’s role in supplier payment redirect scams, credential theft and more. 43 percent of employees admit to mistakes that have caused cybersecurity repercussions, a new study has found, according to OnRec reported.

accounts payable 101

accounts payable B2B Government accountant 101

PYMNTS

JULY 27, 2020

The insurance industry has been bogged down by sluggish service and even slower payouts for decades, and while policyholders have certainly weathered their fair share of friction from the sector’s legacy incumbents, those insurance companies themselves have also suffered from a lack of digitization and automation. It’s a landscape that has created an opportune environment for technological innovation.

Technology 98

Technology Start-ups accountant Account 98

PYMNTS

JULY 27, 2020

Hackers boasting that they have “cracked” some of the hashed passwords stolen from digital banking aggregator Dave may be one of the most disturbing elements to emerge from the cyberheist that exposed the private information of millions of users, a top expert notes. The FinTech on Saturday (July 25) confirmed the data breach after reports emerged that details involving as many as 7.5 million banking users had been exposed on a forum used by hackers to sell and swap ill-gotten data.

accountant 98

accountant Account accounted 98

PYMNTS

JULY 29, 2020

“Fundamental changes to the B2B payments landscape are taking place today, faster than ever before, helping the ecosystem eliminate inefficient B2B payments processes.”. Access to capital hasn’t been this tight since the market meltdown of 2008, so motivated players are finding better, faster ways of moving B2B funds especially. “Today, visibility and speed of paying suppliers — and getting paid — are critical for businesses,” said Kevin Phalen , global head of Visa Business Solutions at Visa.

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B2B accounts payable Technology accountant 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.

PYMNTS

JULY 28, 2020

Millennials and Generation Z consumers get all of the attention when it comes to their changing digital habits amid the pandemic. Google the words “millennials shopping shift,” and page after page of listicles, think pieces and how-to articles appear. But do the same with “baby boomer shopping shift,” and one will find about a half a page of dedicated articles — and a lot of other pieces comparing boomers to millennials or talking about generational shopping shifts more broadly.

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Ohio Retail 97

PYMNTS

JULY 29, 2020

“Digitization has helped support remittance market continuity in the face of reduced mobility. We also believe money transfers relying on informal or unregulated routes are converting to formal money transfers, and may even help stabilize the market as travel restrictions likely remain.”. Markets are seeking stability, though not necessarily finding it, as business essentially “feels” its way forward in a bizarre, post-pandemic topography.

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PYMNTS

JULY 31, 2020

Universities are all about giving students learning experiences, but having one themselves isn’t usually standard operating procedure. Ever since schools worldwide began shutting their campuses due to the pandemic, nothing in higher education has been normal, as Sharon Butler , executive vice president of global education at Flywire , told Karen Webster.

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Education New York Start-ups 95

PYMNTS

JULY 31, 2020

In the midst of a surge of new software solutions and FinTech platforms available to B2B companies, the enterprise resource planning (ERP) system continues to retain its reputation as the single source of truth within an organization, a sort of motherboard to connect and streamline many workflows into one. While third-party solution providers often recognize the importance of ERP integrations, there is no single, perfect tool to eliminate friction entirely — and no single ERP can address every c

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B2B Technology Manufacturing Start-ups 95

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.

PYMNTS

JULY 30, 2020

To say that Amazon posted a good quarter on Thursday (July 30) is a bit like saying Michael Jordan had a good career. By any metrics, the company’s earnings were off the charts, and they hardly came as a result of cost-cutting. The company almost doubled its revenue and profit numbers while spending more than $9 billion on capital improvement projects.

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Sales Transportation Retail 95

PYMNTS

JULY 27, 2020

It’s been long said that small- to medium-sized businesses (SMBs) are the backbone of the American economy. That’s hard to argue with considering more than 99 percent of American firms are SMBs, 49 percent of the population works for one and they’re responsible for 46 percent of private-sector output, according to Small Business Administration data.

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Maine Sales Start-ups Government 93

PYMNTS

JULY 27, 2020

Banks missed out on the first big wave of digital payments, but they don’t have to miss out on the next, Ingo Money CEO Drew Edwards told Karen Webster in a recent conversation. “The entire [digital payments] industry ends up being created outside the banks on products that should have been developed by them,” Edwards said. “The First Datas down to the Stripes built the eCommerce structure and left big banks playing catch-up and to partner.”.

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Start-ups Technology payroll accountant 91

PYMNTS

JULY 28, 2020

The newly stripped-down eBay held its first earnings call on Tuesday (July 28) since announcing plans to sell its classified-ad business to Adevinta for $9.2 billion. While eBay’s second quarter results were stellar, the event was more notable for the unveiling of new CEO Jamie Iannone ’s vision for the company. By the numbers, the pandemic-driven digital shift has been good for the company, as revenue for the quarter was $2.9 billion, up 18 percent over 2019.

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Technology Start-ups Sales 90

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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.