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

CPA Practice

4—Furniture retailer Lovesac has agreed to pay $1.5 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. By Paul Schott The Middletown Press, Conn.

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Half a dozen ways to mismanage sales tax | TaxConnex

TaxConnex

States frequently introduce new sales tax returns, such as Colorado and Minnesota for their new retail delivery fees. General ledger management Your GL is a key reconciliation point to make sure you’re capturing all sales tax that you’re remitting and that you get the credits and adjustments you have coming, such as vendors’ discounts.

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Internal Controls in a Retail Store

Withum

Strong internal controls are an important component in helping Retail Store Businesses reduce possible fraud usually caused by employee theft and customer shoplifting. Visit the retail store(s) unannounced. Record payments in the General Ledger. Require receipts for refunds for cash. OWNER/ STORE MANAGER.

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Dealer Vision: Fall 2024

Withum

Discover how to navigate the uncertainties of today’s tax landscape, address common accounting and parts inventory discrepancies, and take steps to enhance your automotive retail marketing strategy. This newsletter is packed with the tools you need to keep your dealership firing on all cylinders.

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Sage Intacct Adds AI Enhancements and Features

CPA Practice

Availability: Early Adopters in the US Sage Intelligent Time Enhancements : With enhanced new features such as time clocks and rate cards, Sage Intelligent Time meets the needs of professional services, retail, and manufacturing industries.

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What is procure-to-pay software?

Airbase

Procure-to-pay (P2P) software originated from the need to oversee the process of acquiring supplies for manufacturing and other industries, and to manage inventory in the retail sector. Close the loop: Once the payment has been made, the P2P process is closed and the transaction is booked in the general ledger.

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Accounting for a Retail Store: an Ultimate Guide

Snyder

However, depending on where your retail store currently is from a revenue standpoint, bringing on a team might not be possible. Accounting for a retail store – how is it different from basic business accounting? Accounting for a retail store – how is it different from basic business accounting? The retail inventory method.

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