MyIRSRelief
JULY 10, 2020
Although an IRS revenue agent – RA and IRS revenue officer – RO may sound like the same title, there are actually differences between them that you should know. While most individuals may never have to face an IRS audit for example, understanding how the different agents and officers operate can be quite important just in case you are facing the IRS.
PYMNTS
JULY 5, 2020
The nation’s marijuana regulator has told financial institutions to treat the $500 million hemp businesses the same way they would any other businesses. In updated rules from the Financial Crimes Enforcement Network ( FinCEN ), the U.S. Treasury Department’s financial crime division, the agency said the new guidance is in response to questions related to Bank Secrecy Act/Anti-Money Laundering regulatory requirements for hemp-related business customers.
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Katz,Sapper&Miller
JULY 9, 2020
In the wake of the COVID-19 crisis, the Office of Management and Budget (OMB), Small Business Administration (SBA), and Department of Housing and Urban Development (HUD) have all provided guidance or relief to address reporting challenges and questions. The following provides a summary of recent updates for not-for-profit organizations.
Patriot Software
JULY 8, 2020
If you have a low- or moderate-income worker, they may be eligible for the earned income tax credit (EITC). Read on to learn all about the earned income credit, including who is eligible for it and how workers can claim the credit. Earned income tax credit overview The earned income tax credit, or earned income […]. The post What Is the Earned Income Tax Credit, and How Does it Work?
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.
RLLeaders
JULY 9, 2020
Now, more than ever, we have to figure out how to get stuff done and how to be smart about it. Both professionally and personally, our lives will inevitably change moving forward, the only certainty is that we must be ready to face it. Thinking differently is part of the solution (mixed table link), but you need a plan. Ideas are a dime a dozen, and without a plan, those ideas take up space in your brain.
PYMNTS
JULY 8, 2020
QR codes have been around for years, although they often seemed like a marginal tech solution in search of a problem. But as is the case with so many things in our brave new world, COVID-19 is giving new purpose to the much-maligned QR code as an elegant enabler of touchless commerce. We mostly have China to thank for figuring it out – specifically, Alipay and rival Tencent.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
SingleTrackAccounting
JULY 7, 2020
You are running your business and doing a great job at staying on top of your bookkeeping, not to mention you are saving money by not hiring help. Win, win right? Think again. Since you have been trying to save a buck by going the DIY (do it yourself) route, your books may be all over the place. You could spend several hours, perhaps days navigating PPP loans, running payroll, and filing taxes even if you were organized.
PYMNTS
JULY 7, 2020
Merchants’ needs have changed dramatically due to the pandemic. Digitizing operations tops the list of merchant imperatives, but getting there can be a struggle — especially when it comes to digitizing the checkout experience for a post-pandemic age. To that end, as Visa Acquiring Partner Relationships Vice President Josh Park told PYMNTS, finding the right tech providers and partnerships can be critical.
PYMNTS
JULY 7, 2020
“The digital economy is here, and those payment providers that are global, digital and fully resilient will lead the reemergence.” . “Robust operational resilience is now a non-negotiable component of any business engagement,” according to Manish Kohli , global head of payments and receivables, Citi Treasury and Trade Solutions. “By the very nature of our industry and regulatory requirements, banks have made resilience a core competency.
PYMNTS
JULY 8, 2020
Mastercard is harnessing artificial intelligence (AI) in a bid to hit fraudsters hard by searching for emerging patterns of criminal activity before they become major problems, two top executives told Karen Webster during Mastercard’s Virtual Cyber & Risk Summit. “In many cases, AI is fundamental to scaling and keeping up with the pace of the network transactions that are happening,” said Sudhir Jha , a Mastercard senior vice president and head of Brighterion , an AI company that Masterca
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.
PYMNTS
JULY 10, 2020
Open banking comes in several flavors, yet its rise requires robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, Zac Cohen , chief operating officer at identity verification firm Trulioo told Karen Webster in a recent interview. As financial institutions (FIs) work with FinTechs, they need to know that these tech-nimble startups are not only enabling access to customers’ account data but also in a manner that embraces KYC and AML.
PYMNTS
JULY 10, 2020
More than a few notable companies have started in a Silicon Valley garage. Maurice Brewster , CEO of Mosaic Global Transportation , said he believes he’s one of them. He has grown from a small group of vintage cars in the San Francisco area to a global, tech-savvy transportation network in four countries with 1,500 cars. And like the garage-born Apples, Googles and Hewlett-Packards of the world, he has become skilled at shifting his business when necessary.
PYMNTS
JULY 5, 2020
Google and Temasek Holdings Private Ltd. , an investment company owned by the Singapore government, are in talks to invest as much as $1 billion for Tokopedia , sources told Bloomberg News. The Indonesian eCommerce retailer backed by SoftBank Group Corp. ’s Vision Fund has also met with Facebook Inc. , Microsoft Corp. and Amazon.com Inc. , the sources said.
PYMNTS
JULY 9, 2020
Banks have been facing a concerning rise in account takeover (ATO) attacks targeting their customers, with financial institutions (FIs) losses due to such schemes rising 72 percent from 2018 to 2019. Fraudsters have only upped their efforts during the pandemic, with phishing attacks alone increasing 667 percent between late February and late March. The July FI Fraud Decisioning Playbook examines how FIs are working to better detect and defend against ATOs.
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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.
PYMNTS
JULY 6, 2020
If your business touches retail in any way, it might pay to follow a few important breadcrumbs. Nike posted its lowest quarterly sales in two years, along with a $790 million quarterly loss, when it reported its Q1 2020 earnings in late June. A key driver of the results was a 50 percent reduction in wholesale shipments and canceled orders from physical stores that had closed.
PYMNTS
JULY 5, 2020
Currencycloud , which works in global B2B cross-border payments, will be working with enterprise blockchain solution Ripple on new solutions for fast global payments, a press release says. Ripple, with its worldwide RippleNet network, will be an opportune way for Currencycloud to reach more financial institutions. The press release says Currencycloud recognizes the need for fast, secure payments during the global crisis.
PYMNTS
JULY 7, 2020
Wall Street has famously been called “both voting machine and weighing machine.”. Of course, voting is a bit of popularity contest, and as retail investors (and some institutional ones) crowd into a stock, they can quickly bid its price up — as is happening these days with payments processor Square. Square’s shares have doubled since May, according to Bloomberg , and at $55 billion, the company’s market capitalization is eclipsing that of many traditional banks.
PYMNTS
JULY 7, 2020
Build, buy or partner? For more community banks, the latter strategy can fast-track digitization initiatives. This week’s look at the latest bank-FinTech tie-ups shows Banking-as-a-Service and other FinTech players embracing smaller regional and community banks to elevate small- to medium-sized business (SMBs) and corporate banking offerings. Finastra Chosen by Community FI.
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
PYMNTS
JULY 5, 2020
Bank of New York (BNY) Mellon has announced a new partnership with risk and payments solution provider Early Warning Services , aiming to boost digital B2B payments services for clients. The offering will include flexibility, according to a press release , allowing clients to either choose BNY Melon’s services or one of the company’s Private Label Bank relationships.
PYMNTS
JULY 7, 2020
It’s hard to find a retail fashion category that’s reliably successful these days. Brick-and-mortar discounters like T.J. Maxx are thriving despite social distancing rules, which is not the most stable success platform. Fast fashion already claimed a victim this week as Lucky Brand filed for bankruptcy, and H&M announced it was shuttering 170 stores across the globe due to the pandemic-driven digital shift.
PYMNTS
JULY 6, 2020
Anyone who has ever driven North on Route 1 from Boston, Massachusetts, has seen Kowloon Restaurant. It’s hard to miss. The iconic Chinese restaurant and cocktail lounge is a huge angular structure with pagoda-style roofs and a totem pole visible from the highway. Over the past 50 years, the Wong family has been the owners and operators, constantly adding themed dining rooms and even a comedy club.
PYMNTS
JULY 9, 2020
Accrualify , which works in cloud-based solutions for mid- and enterprise-level companies, is launching a new corporate card in partnership with Visa , according to a press release. The intent of the card is to boost options for spend control for corporate finance teams. The card will allow companies to set spending limits, category and merchant restrictions and use frequency.
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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 7, 2020
The digital transformation of financial services that began well before the pandemic has only accelerated in recent months. There’s no shortage of disruptors — particularly neobanks that promise to change everything from checking to lending — but don’t count legacy players out just yet, Dr. Jud Linville , senior advisor at growth equity firm General Atlantic , told Karen Webster.
PYMNTS
JULY 5, 2020
Amazon must like the supermarket business. Three years after it paid $13.4 billion for Whole Foods , the online retail giant is planning to open its second automated-checkout grocery store in Seattle’s Eastside neighborhood and is hiring managers for a third store in the city’s Capitol Hill district, The Seattle Times reported. And it’s not stopping there.
PYMNTS
JULY 8, 2020
Walgreens Boots Alliance is teaming up with Chicago-based VillageMD to make Walgreens “the first national pharmacy chain to offer full-service doctor offices co-located at its stores at a large scale,” according to a Wednesday (July 8) press release. The move comes against the backdrop of an U.S. healthcare system in upheaval from the COVID-19 pandemic.
PYMNTS
JULY 8, 2020
Depending on where you look, cash may still be king. It’s no secret that the pandemic has been forcing consumers to embrace all things digital. That includes paying for everything from clothes to restaurant deliveries through online and card-not-present transactions. But in an interview with PYMNTS, Scott Anderson , director of software product management and go-to-market, banking at Diebold Nixdorf , said that predictions of cash’s imminent demise are premature.
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 10, 2020
In a move that will give more flexibility to its drivers, less predictability to passengers and potential legal protection for its parent company, Uber now is letting California drivers set their own rates — within limits. In a “driver announcement” on its blog, Uber wrote, “If you drive in these cities and choose to not change your multiplier, you will still get the benefit of default time and distance rates, as well as surge fares.
PYMNTS
JULY 6, 2020
Wirecard executive Oliver Bellenhaus, 46, has been arrested in Munich for his alleged central role in the massive worldwide fraud case currently enveloping the company, the Financial Times (FT) reported. Bellenhaus was in charge of Wirecard’s CardSystems Middle East and ran that division primarily from his apartment in Dubai’s Burj Khalifa, the world’s tallest building, FT reported.
PYMNTS
JULY 7, 2020
Online merchants should focus their internal resources on their core business applications, sticky.io Chief Technology Officer Clark Huang told PYMNTS in a recent conversation. There are parts of a company’s eCommerce experience where it makes sense to keep them in-house, but other parts where it doesn’t. As Huang noted, brands and merchants always want to remain in full control of their consumer-facing experiences, so developing these web workflows in-house is not a bad investment.
PYMNTS
JULY 9, 2020
In a bid toward normality, states are reopening. No surprise, after months of lockdown: We all want to get something to eat. And we’d like to be safe when we get something to eat. The great digital shift is in place, of course. PYMNTS research shows that during the pandemic, dining habits have shifted, with 35.3 percent reporting dining less at quick-service restaurants (QSRs) and 35.9 percent going to sit-down restaurants less often than in pre-pandemic days.
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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.
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