oAppsNet

JANUARY 2, 2025

This article explores the importance of automating the I2C process, its benefits, and best practices for implementation. Ensuring Compliance : Automated systems help businesses comply with tax regulations, industry standards, and internal policies by maintaining accurate records and audit trails.

Invoicing

Gaviti

JULY 27, 2025

This article explores causes, solutions and short payments and how automation can help implement a consistent strategy and consistency. This article also offers a practical checklist that you can use to start tackling short payments immediately. finance for tax errors, sales for pricing disputes, etc…) and ensures timely handoffs.

Invoicing

Trade Credit & Liquidity Management

JUNE 11, 2025

When MCA funders fail to reconcile in a declining revenue environment, the fixed daily withdrawals quickly exceed the originally contracted percentage of receivables. In jurisdictions like New York, regulators have made it clear: failure to reconcile isn’t just a contract issue—it may constitute deceptive business conduct.

Collections

Counto

MARCH 24, 2025

Filing your ECI accurately and on time is a key compliance requirement set by IRAS and getting it wrong can lead to unnecessary penalties or tax issues. Why ECI Filing Matters Filing ECI allows IRAS to assess your corporate tax early and may result in early instalment plans for tax payments. Ready to upgrade your accounting?

Accounting

Counto

FEBRUARY 19, 2025

Reconcile accounts promptly to identify discrepancies. Regularly update passwords and limit access to sensitive payment data. Monitor Bank Transactions Regularly Review bank statements frequently to detect unauthorised payments. Set up alerts for large or unusual transactions. Its 100% free and easy to use. Learn more !

Billing

Counto

MARCH 23, 2025

Bookkeeping Typically charged monthly or quarterly, bookkeeping services involve recording daily transactions, reconciling bank statements, and maintaining ledgers. Per-Service Pricing For businesses with specific needs, such as annual tax filing or occasional payroll support, providers may charge per task.

Accounting

Accounting Today

JULY 11, 2025

With parallel accounting and auditing workflows, companies can reconcile accurately, enforce policy effectively and ensure compliance without sacrificing operational efficiency. John Toman Co-founder and chief product officer, Pivot Payables For reprint and licensing requests for this article, click here. All rights reserved.

Expense Reports

Nanonets

MAY 28, 2025

We are forced to manually enter data, reconcile transactions, and sift through files trying to locate financial information we need.  Instead of scrolling through help articles, you can now ask questions in plain language and get relevant answers drawn from Xero's support documentation. Nanonets eliminates this step entirely.

XERO

Accounting Today

JULY 29, 2025

Fyle was an attractive purchase because it offers features like unique real-time notifications on transaction spend as well as an intuitive end-user experience (namely, the ability to to submit and reconcile expenses with a simple text.) "Big All rights reserved.

Corporation Tax

Accounting Today

AUGUST 6, 2025

Its a pretty big deal," said Deloitte tax leader Rob Massey. The GENIUS Act encompasses a lot of the regulatory questions, but it doesnt address tax. It just emphasizes the fact that — with the passage of the Act and enabling of regulated stablecoins — for tax purposes, its property. All rights reserved. We have private issuers.

Corporation Tax

Xero

MARCH 16, 2023

That’s why we have prepared some resources to guide you through a frictionless payroll year end, and be ready for the start of the 2023/24 tax year. Don’t forget, there’s also plenty of other resources including support articles , a 24/7 payroll specialist team and webinars you can access at any time!

Payroll

Xero

MAY 13, 2024

In Xero Payroll, all active and terminated employees (who will be included in the STP finalisation for the financial year) will need an employment type, income type, and tax scale defined in their records. For guidance on reviewing payroll transactions at EOFY, take a look at this support article in Xero Central.

XERO

Xero

MAY 17, 2022

Tax time will look a little different this year compared to last, with the conclusion of the JobMaker and JobKeeper schemes and business slowly returning to normal. Reconcile your accounts, comparing the Payroll Activity Summary report and the General Ledger. Process any pay runs for the 2021/22 financial year.

Payroll

Xero

NOVEMBER 30, 2022

You can now access Xero Central support articles without leaving Xero, by selecting the question mark icon in the navigation bar at the top of the screen. Map different tax rates in Shopify — Global. Map different tax rates in Shopify — Global. Additional fields in Xero Tax — Australia. New GST rate in Xero — Singapore.

XERO

Outsourced Bookeeping

OCTOBER 21, 2024

Tax season can be a source of stress to even small and medium-sized enterprises (SMEs). Outsourced bookkeeping offers practical, cost-effective solutions that simplify tax preparation and, in turn, maximize tax benefits for small businesses. Maximising Tax Benefits: How Outsourced Bookkeeping Helps U.S

Outsourced Bookkeeping

Accounting Tools

MAY 21, 2023

Responsibilities of a Full Charge Bookkeeper The subject areas over which the full charge bookkeeper has responsibility are as follows: Record and pay accounts payable Issue invoices to and collect from customers Calculate pay and issue payments to employees Create financial statements and related financial reports Remit payroll taxes , sales taxes (..)

Bookkeeping

Accounting Tools

MAY 19, 2023

Examples of Ledger Accounts Examples of ledger accounts are cash, accounts receivable, inventory, fixed assets, accounts payable accrued expenses, debt, stockholders’ equity, revenue, cost of goods sold, salaries and wages, offices expenses, depreciation, and income tax expense.

General Ledger

Counto

JUNE 13, 2023

5 Potential Reasons Your Tax Return May Be Flagged By IRAS Filing your business tax return requires careful attention to the tax laws and regulations established by IRAS. Inaccurate Income Reporting One of the primary reasons for a business tax return to be flagged by IRAS is inaccurate income reporting.

Financial Statements

Accounting Tools

NOVEMBER 1, 2023

Reconciling a bank statement , which likely produces adjustments to the cash account. Tax reports are issued to several government entities. The reports provide detail regarding the amounts paid for income taxes , property taxes, sales taxes , use taxes , and so forth.

General Ledger

Accounting Tools

OCTOBER 9, 2023

Step 6: Reconcile Bank Accounts Conduct a bank reconciliation , and create journal entries to record all adjustments required to match the accounting records to the bank statement. Step 10: Accrue Income Taxes Accrue an income tax expense , based on the corrected income statement. Repeat until all errors have been corrected.

Financial Statements

Blake Oliver

JUNE 30, 2023

Consider both the tax and accounting implications of each transaction based on its knowledge of (say) tax deductibility and normal coding 3. Flag any entry it considers may be incorrectly coded, or may require adjustment for tax purposes 5. Read the full article here. Compare expenses to previous periods 4.

Reconciling

MineralTree

MARCH 9, 2023

In this article, we explore the common issues with B2B cross-border payments and the steps companies can take to improve their international AP process. To ensure a smooth and efficient transaction, companies must thoroughly understand the regulations, taxes, and payment methods involved within cross-border payments.

AP

Less Accounting

JUNE 15, 2023

In this article, we will guide you through the basics of bookkeeping for electricians. We will cover everything you need to know , from tracking expenses and invoices to reconciling bank statements and choosing the right bookkeeping software. Establishing a record-keeping system for tracking income and expenses is essential.

Bookkeeping

Accounting Tools

AUGUST 3, 2023

Related Courses The Income Statement The Interpretation of Financial Statements What is Earnings Before Interest and Taxes? Earnings before interest and taxes is a calculation of the operating earnings of a business. It specifically excludes interest , which is a finance cost, and taxes, which are imposed by a governmental entity.

Tax

Accounting Tools

APRIL 17, 2024

What is an Interperiod Tax Allocation? An interperiod tax allocation is the temporary difference between the effects of tax policy on the financial reporting of a business and its normal financial reporting as mandated by an accounting framework , such as GAAP or IFRS.

Tax

Outsourced Bookeeping

DECEMBER 30, 2024

Outsource Bookkeeping Services: Hiring professionals is time-saving, reduces mistakes, and complies with tax laws. Reconcile Accounts Monthly: The books of account should be reconciled often to avoid differences and be correct. Read articles, watch webinars, or consult with financial experts to learn more.

Outsourced Bookkeeping

Accounting Tools

DECEMBER 22, 2023

Customer Advance Due to Cash Basis Accounting The customer may be operating under the cash basis of accounting , and so wants to pay cash as soon as possible in order to recognize an expense and reduce its reportable income in the current tax year. In this case, the customer may willingly pay early, with no prodding from the seller.

Accounting

Future Firm

MAY 24, 2023

Tip 3: Opt for Cloud Tax Software All the benefits that I listed for cloud services apply to tax software as well. Over and above just automating completion of tax forms, however, we’ll also start to see tax planning become an automated technology, which is discussed later on in this article.

Accounting

Nanonets

APRIL 1, 2024

It provides advanced features like multi-entity support, global tax compliance, and supplier onboarding but has a higher price tag and longer implementation times. Although Nanonets and Tipalti provide a wide range of business solutions, this article will focus solely on comparing their AP automation capabilities.

AP

Jetpack Workflow

MARCH 23, 2023

While the year-end closing process is familiar to most due to tax reporting, it’s not the only necessary period-end process a business should have. The month-end closing process is just as essential, especially if you want to avoid the headache and overwhelm of last-minute error corrections spanning months during tax seasons.

Reconciling

Jetpack Workflow

AUGUST 24, 2023

In this article, you’ll find a free set of templates to help you get started. Reconcile Cash and Receipts At the end of each day, reconcile all cash payments and payment receipts received in the general ledger to get a good idea of each client’s cash balance.

Reconciling

Nanonets

JANUARY 8, 2024

Having an accurate set of financial statements is essential, or it can lead to complications in financial planning, tax compliance, and legal matters. If they match, it means your records and the bank statement are reconciled, and there are no discrepancies. Why is it important to reconcile your bank statements?

Bank Reconciliation

Nanonets

JANUARY 8, 2024

Having an accurate set of financial statements is essential, or it can lead to complications in financial planning, tax compliance, and legal matters. If they match, it means your records and the bank statement are reconciled, and there are no discrepancies. Why is it important to reconcile your bank statements?

Bank Reconciliation

Counto

MARCH 19, 2024

Here’s a comprehensive guide to annual return filing and record-keeping for sole proprietors: Personal Income Tax Filing In Singapore, a sole proprietorship isn’t a separate legal entity. Tax Deadlines Resident sole proprietors generally need to file their personal income tax returns by April 15th each year.

Record Keeping

Counto

MARCH 27, 2024

Understanding Payroll Compliance Payroll compliance encompasses a range of legal obligations that businesses must fulfil concerning employee compensation and tax-related matters. Remitting Payroll Taxes: Timely remit withheld taxes and CPF contributions to relevant government agencies to avoid penalties and legal repercussions.

Payroll

Future Firm

JULY 21, 2022

In this article, you’re going to learn about: What an accounting engagement letter for your firm is. Reconcile the agreed amount of transactions by the agreed timeframe. Example: Alpha and Beta Accounting is to take responsibility for the bookkeeping and tax preparation of ABC, Inc. This post is a deep dive into why you should.

Accounting

Nanonets

MAY 7, 2023

This article will define credit card reconciliation and discuss the two types of reconciliation. It's important to reconcile your credit card statements because it helps you make sure that: When it arrives, you have enough money in your checking account to pay the amount due on your statement. How to do credit card reconciliation?

Bank Reconciliation