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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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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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

accounting and finance

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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Going Concern

JUNE 12, 2023

For a second there I was worried we’d have nothing to write about this week. Why is this profession so depressing? by u/Good-Honeydew3309 in Accounting TL;DR on the protest: Reddit announced an API pricing change, popular third-party apps that rely on the API to function were outraged at the exorbitant fees, moderators across the site organized a two-day blackout that began today to communicate their anger and frustration over the change.

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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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Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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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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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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Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

Finance

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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Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

accounting and finance

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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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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Speaker: Joe Sharpe and James Carlson

Running a small business is no small feat. Payroll management, in particular, can be one of the most time-consuming and complex parts of that equation. Yet, businesses that crack the code on streamlining these processes often discover not just savings, but new avenues for growth. Our expert speakers will share actionable insights and real-world examples of how businesses have reduced overhead and improved payroll efficiency.

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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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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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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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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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Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

bookkeeping

CPA Practice

JUNE 14, 2023

By Jeannie Ruesch. Imagine this: Your morning routine includes client consultations, processing a few bills for each of your clients via AP automation in just a couple of minutes, closing the books for one client, reconciling them for another. Then at lunch, you leave your home office behind and head out to Walt Disney World for the afternoon. And then imagine that this day is just one of many.

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ThomsonReuters

JUNE 16, 2023

Is your firm running its gears on outdated accounting technology? That is a question many accounting firms should consider as they look to remain competitive, better serve clients, and expand bandwidth in today’s challenging environment. Advancements in technology continue to have a significant impact on how accounting professionals work and serve their clients.

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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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