Airbase

JUNE 12, 2023

Optimizing your financial systems to meet your company’s evolving needs is not just a matter of implementing new software. “People and processes need updating as well when it comes to processes evolving,” Reuben Cook of Squire told Airbase CFO Aneal Vallurupalli at a recent What I Wish Knew session, The value of consolidating systems and processes. As Partner, CFO Services at Squire, Reuben works with companies through their transformative growth phases to establish best practices.

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IgniteSpot

JUNE 14, 2023

Myth No. 1: Bookkeeping and accounting are the same. Fact: Bookkeeping shares some overlap with accounting but is a distinct role. In a perfect world, you should have both—plus a CFO and controller.

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GrowthForceBlog

JUNE 13, 2023

6 min read You can't run a business without a sound back office. Key Takeaways Why Some Businesses Consider Building Their Own Accounting Systems: Many businesses find that these software systems cannot meet their unique back-office needs because using an inflexible, one-size-fits-all software solution A Powerful Accounting Software Solution: While an investment of this size into custom-designed accounting software might make sense for a large corporation, for most small and medium-sized busines

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accounting system accountant Account accounted 79

Basis 365

JUNE 15, 2023

Running a successful business involves juggling numerous responsibilities, and one crucial aspect is financial management. Bookkeepers play a vital role in maintaining accurate records and ensuring the smooth functioning of your business. However, it is essential to know the potential risks of bookkeeper fraud. Let's shed light on what business owners need to know about bookkeeper fraud, including statistics highlighting its prevalence.

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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.

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BurklandAssociates

JUNE 13, 2023

Startups can improve efficiency, reduce errors, and make better decisions by pairing emerging AI accounting tools with human accounting professionals. The post When AI & Human Accountants Team Up, Startup Founders Win appeared first on Burkland.

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ThomsonReuters

JUNE 15, 2023

You work to improve your tax and accounting firm — increase profitability, expand into new areas, and find a better work-life balance. But you and your staff are already working hard and putting in long hours, and the demands on your team are becoming increasingly complex. Tax firms are feeling the pressure of changing tax regulations, along with clients who expect greater accuracy and faster responses in the digital age.

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CPA Practice

JUNE 12, 2023

By Nick Tscornia. It may feel like automation has been the hottest tech topic for nearly a decade now, but when it comes to practical application we are only just beginning to scratch the surface. There is perhaps no industry in which this dynamic is more apparent than accounting; 75% of accounting processes are largely manual, according to a recent Deloitte survey of accounting professionals.

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GrowthForceBlog

JUNE 15, 2023

7 min read Your business is growing- congrats! But, with growth comes an increased responsibility for your back office, and your bookkeeper might need help keeping up. Key Takeaways What a Bookkeeper Does for Your Small Business: Bookkeepers are in charge of maintaining your books closely day in and day out. They generally do all data entry into accounting ledgers or software… Full-Time Bookkeeping for Small to Medium Businesses: The current average full charge bookkeeper's salary fluctuates bet

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Going Concern

JUNE 15, 2023

Prior to 2007 I had little idea the accounting profession existed. I mean, I knew it was a thing and it’s possible young me read a story or two on the Yahoo! homepage about Enron but it wasn’t until 2007 that I really knew about it. That was the year I started working in CPA review, Going Concern was founded two years later. Why am I talking about this?

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accountant Account accounted Education 59

Acterys

JUNE 16, 2023

Optimizing an organization’s financial health can be a challenging task, especially for CFOs and other finance leaders. Maintaining control over an enterprise’s spending and resources is crucial for success. Financial budgeting serves as a critical aspect of business planning, allowing organizations to effectively allocate their financial resources and gain valuable insights into their operations.

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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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MyIRSRelief

JUNE 16, 2023

Welcome to our comprehensive FAQ guide on the IRS Fresh Start Program ! Dealing with tax issues can be overwhelming, but the Fresh Start Program is designed to provide taxpayers with a second chance. In this article, we’ll answer your most pressing questions about this initiative, explaining its purpose, eligibility requirements, benefits, and how to apply.

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Tax tax return Start-ups Maine 130

SMBAccountant

JUNE 16, 2023

One of the best things that you can do for your business is to understand financial statements. One of the biggest issues that come with reading financial statements is understanding the differences between Retained Earnings vs Owner’s Equity. The first step is defining the two. Retained Earnings is the company’s net income or loss over the period of the company.

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TaxConnex

JUNE 15, 2023

Call it a sales tax or a delivery fee of 27 cents. Just don’t call Colorado the only state implementing or considering such a surcharge on online sales: New York lawmakers will soon debate their own and Minnesota’s kicks in next year. Retailers, online marketplaces and services must now charge the delivery fee if an order will be delivered to a Colorado address using a motor vehicle and includes at least one item subject to the state sales or use tax.

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Going Concern

JUNE 16, 2023

Perhaps you’ve already seen this in 24 hours since it was released but let’s talk about it anyway because L-O-f **g-L. UK office furniture company Furniture at Work has published a hilarious anti-WFH piece called “From Claw Hands to Hunchbacks: How Working From Home Could Affect Our Bodies.” The article warns that if you continue to work from home you will end up looking like an enemy from Silent Hill by the time you are 70.

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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.

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CPA Practice

JUNE 15, 2023

The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, according to a new report from the Treasury Inspector General for Tax Administration. The American Rescue Plan Act of 2021, which was approved by Congress and enacted on March 11, 2021, expanded the child tax credit and authorized monthly payments, with differing amounts, to eligible individuals and families based on their adjusted gross incomes and, if they have kids, their children’s age

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ThomsonReuters

JUNE 16, 2023

Many of today’s accounting professionals have a new perspective on when and how they want to work. Are firms heeding the call? The onset of the COVID-19 pandemic forced countless businesses, including accounting firms, to go remote essentially overnight due to mandated shutdowns and stay-at-home orders. Now with the public health emergency officially over , the shift to more remote work has become the new normal.

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TaxConnex

JUNE 13, 2023

Sales tax compliance involves a highly complex set of rules and regulations. These rules change frequently in many jurisdictions, and the question of whether (and how) your company needs to collect and remit sales tax to a certain jurisdiction can be quite difficult to determine. Many companies believe that when going with a sales tax automation option everything is taken care of.

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Going Concern

JUNE 14, 2023

Some time back, KPMG UK released novel research that analyzed the career paths of more than 16,500 partners and employees at KPMG over a five-year period to discover that socioeconomic background, measured by parental occupation, had the strongest effect on how quickly an individual progressed through the firm. So if a KPMG employee’s highest earning parent was in a manual or blue-collar job when they were growing up, that person progressed more slowly through the ranks compared to peers w

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Start-ups New York Education accountant 116

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

CPA Practice

JUNE 13, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) The U.S. State Department can deny or revoke U.S. passports of people with federal tax debts of $59,000 or more on whom a tax lien or levy has been filed. This doesn’t include individuals who are paying their taxes under an installment agreement, people in bankruptcy, individuals who live in a federally declared disaster area, or people with a tax debt that the IRS has determined isn’t collectible because of hardship.

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Cherry Bekaert

JUNE 15, 2023

Upcoming Changes to Estate Planning Laws: Start Preparing Now Elevated Gift Tax Exclusions Will Sunset after 2025 The 2017 Tax Cuts and Jobs Act (TCJA) nearly doubled the lifetime estate and gift tax exemption from $5.6 million to $11.18 million for individuals, indexed for inflation after 2018. For 2023, the indexed exemption rose to $12.92 million ($25.84 million for married couples).

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ThomsonReuters

JUNE 16, 2023

Artificial intelligence (AI) has proven that it is a far cry from just a buzzword. Over the years, AI in accounting has increasingly gained traction and, going forward, it will continue to transform the tax and accounting profession. Is your firm ready? Like many industries, the accounting profession is exploring how AI can improve efficiencies and help strained firms better serve clients.

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accountant Account accounted Technology 110

Going Concern

JUNE 13, 2023

Financial Reporting Council chair and stereotypically European named Jan du Plessis has told the Financial Times that audit firms — who regularly complain about the UK audit regulator being up their asses — should pay their junior auditors more. “There has been a significant increase in profitability at all the audit firms. They have the resources available to increase the pay levels of more junior people that they want to attract into their firms and it’s up to them whether th

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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.

CPA Practice

JUNE 16, 2023

By Martin Schamis, CFP, Kiplinger Consumer News Service (TNS) The Tax Cuts and Jobs Act (TCJA) of 2017 is currently scheduled to sunset at the end of 2025, meaning significant changes are on the horizon for taxpayers. Now is the time to understand those implications and consider strategies to help mitigate the potential tax risks—and this article can help you get started.

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Accounting Insight

JUNE 15, 2023

A new study has revealed that the UK accounting services sector has experienced consistent growth across the country, with increased demand for their services resulting in a 62% increase in new businesses in the sector since 2017. Tyl by NatWest , the payments partner supporting UK SMEs and micro businesses, has commissioned the Evolving Enterprise Index report , revealing the fastest growing and fastest emerging sectors in the UK.

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accountant Account accounted accounting and finance 105

Insightful Accountant

JUNE 12, 2023

Intuit Ventures has announced an investment in Finch, the No. 1 API for employment systems. The investment will allow Finch to build deeper integrations with the Intuit QuickBooks ecosystem.

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quickbooks 104

Going Concern

JUNE 15, 2023

Ever since ChatGPT exploded onto the scene late last year people of all stripes have been using, discussing, exploiting, and fearing it. Which category you fit in depends on your age, profession, familiarity with technology, knowledge of decades-old conspiracies about robots taking over the world, and most importantly your willingness to embrace the new and exciting.

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accounting firms accountant Account accounted 106

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.

CPA Practice

JUNE 15, 2023

A Top Technology Initiative Article. June 2023. With the spring conference season wrapping up, watching the frenzy around Artificial Intelligence (AI) and its applicability in the profession has been amazing. As noted in my April column , there are various innovative uses of AI and privacy risks for your client data. Recently, Google released its SAIF (Secure AI Framework) regulations based on six principles to enable the creation of high-quality, secure artificial intelligence.

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ThomsonReuters

JUNE 15, 2023

It is no secret that customs duties can be a major source of expense for businesses. By considering the rules of origin under free trade agreements (FTAs), it is possible to reduce the costs of these duties by applying preferential duty rates. Rules of origin refer to regulations that establish the country of origin for a product. Businesses can leverage these rules to benefit from free trade agreements (FTAs) and other tax relief programs.

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Insightful Accountant

JUNE 12, 2023

Murph cautions us against accepting the results of 'AI' like ChatGPT. the data these AI machines produce may be more 'artificial' than 'intelligent'.

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Going Concern

JUNE 14, 2023

Indian media is reporting 25-year-old Prasad Navaneeth, formerly a senior associate at BDO USA’s growing India office BDO RISE, was detained for making a hoax bomb threat targeting his office at the RMZ Ecospace tech park in Bellandur. Several articles state that he’d been told to resign due to poor performance and that he refutes this claim, citing ‘office politics’ as the reason for his forced departure.

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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.