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Lovesac to Pay SEC $1.5 Million to Settle Claims of Hidden Expenses

CPA Practice

The accounting problems came to light in April 2023, when Lovesac’s finance team found that approximately $2.2 In mid-June 2023, a Lovesac employee reported to Lovesac’s outside auditor a fraudulent entry in the company’s general ledger that Um had made in late April 2023, with Dellomo’s approval, according to the lawsuit.

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Alleviate Stress on Your Staff in 2021

TaxConnex

The biggest concern of finance professionals ahead of the new year is having knowledgeable staff available and 46% of respondents happen to handle sales recordkeeping and compliance tax in-house. Can you manage it with your already overworked and stressed finance department? The results showed an intersection of business problems.

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The new breed of audit

TaxConnex

more than one in four (26.7%) top finance professionals reported seeing an increase in state sales tax audits in the past two years. Fear and perception of audits are as tangible as the real examinations. In TaxConnex’s recent? market survey ,?more And of course, save paper.

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5 Steps to a Complete Sales Tax Filing Process

TaxConnex

Make the right decisions for your business so you can best manage compliance in a way that doesn’t overburden your finance team or put your business at risk of penalties and fees. Be sure you have a process to gather the applicable data each month and reconcile this data to your general ledger before you start the filing process.

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Top Tips to Prepare for an eCommerce Audit

TaxConnex

more than one in four (26.7%) top finance professionals reported seeing an increase in state sales tax audits in the past two years. You can expect to provide copies of your filed returns and supporting data (including sales journals, exemption certificates and general ledger data supporting the returns).?There’s

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Cash flow vs Trial Balance. Which one to trust?

Simple Accounts

The cashflow report also consists of operating, Financing, and investing activities. Trial balance is a report that shows the balances of each general ledger account in the company. A trial balance is different from a general ledger. Monitor your Finances with SimpleAccounts. Trial Balance . Liabilities .

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Your path to accurate, real-time financial reporting

Accounting Seed

For finance and business leaders making big-dollar decisions based on financial reports, this is an all-too-familiar dilemma. As many as half of senior finance professionals do not fully trust the financial data they are working with, while the average financial close takes more than eight days.