Cloud Accounting Podcast

MARCH 30, 2020

Under 30-minute set-up template - you've got a three-way financial statement forecast for the next 12 months. I send it to ADP to do the direct deposits, and when they shoot out those direct deposits, they're adding in that extra 1,200 bucks, or whatever the proper amount is that's from the government [crosstalk] the accounts.

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Accounting Accounting Payroll Billing 40

Cloud Accounting Podcast

JULY 7, 2020

They gave Wirecard an unqualified audit for years 2016 through 2019, while these accounts were supposed to exist. What got weird about that is that the amount in those accounts became so large- it's equivalent to more than a quarter of the total group revenue for Wirecard in the years 2016 through 2019; a quarter of all of their revenue.

Tax 40

Tax Auditing Deposits Accounting 40

Cloud Accounting Podcast

JUNE 8, 2020

It's called, "People Killed by Police Forces - Annual Rate per 10 Million People." [00:09:30] The author of this chart looked at a police shooting database from 2019, compared it to U.S. At least 1,020 duplicate deposits were issued for PPP. This one rose to the top. David Leary: [00:37:45] Well, good thing.

Tax 40

Tax XERO Payroll QuickBooks 40

Cloud Accounting Podcast

MAY 18, 2020

carat diamond ring for himself, a 2019 Rolls-Royce Wraith, $40,000 in child support. What he did, is he- somewhere along the line, he crossed the line, and he rerouted payroll direct deposit money that was supposed to go into employees' bank accounts, and the money to pay taxes. Apparently, he spent $1.5 Apparently, he spent $1.5

Payroll 40

Payroll Billing Deposits Accounting 40

Cloud Accounting Podcast

AUGUST 25, 2020

I got a deposit from the IRS in my bank account for $32.12, and I thought, oh, no, is this my stimulus payment? I didn't even know- it didn't feel like my refund was any more delayed or less than it has been in previous years, but that's the deposit everybody got. You have financial reporting, and advisory/consulting, and tax prep.

Accounting 40

Accounting Accounting QuickBooks XERO 40

Cloud Accounting Podcast

MAY 26, 2020

So, you can say, "Let me look at April 2020 versus April 2019." Direct deposit volumes are surging three times, up to 14 million customers. According to generally accepted accounting principles, you have to eliminate those transactions when you present your financial statements. David Leary: [00:26:39] That's correct.

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XERO Accounting Accounting QuickBooks 40

Cloud Accounting Podcast

AUGUST 17, 2020

I wonder how Revolut is doing in the pandemic, because I spotted a story this week about how their losses tripled in 2019 due to their rapid expansion. The most basic audit technique in the book is send a letter to the bank, make sure that those accounts are real, and the amounts are accurate, as of the date of the financial statements.

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Payroll Tax Accounting Accounting 40