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15 Accounting Innovations for Every Accountant

Intuit

Blockchain and secure e-signature tools streamline audits and reduce legal risks. From categorizing expenses to reconciling accounts and forecasting trends, artificial intelligence does the heavy lifting at scale and without human error. This technology matters, especially for audits and compliance.

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8 Unique Ways to Use AI for Accounting Firms

Jetpack Workflow

Producing Blog Content Firms that aren’t yet comfortable employing AI-powered tools to deliver client work could consider leveraging this powerful technology for marketing and administrative tasks within their firm. These models can process large amounts of data quickly and efficiently, looking for inconsistencies that require further review.

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Multi-Channel Sales Accounting: How to Track Revenue Across Multiple Platforms

Counto

Regularly Reconcile Transactions Reconciling sales data with bank statements and payment processors prevents discrepancies. Keeping track of these ensures: Accurate cash flow forecasting Identification of delayed or missing payments Better financial planning and tax compliance 5.

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1099 Reporting Simplified with AP Automation 

AvidXchange

Simplified Reconciliation Automated systems can provide timely reporting and visibility into supplier payments, making it easier to reconcile accounts during tax season. Audit Preparation AP automation can offer a digital audit trail of payments, providing easy access to records in case of an audit.

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The Importance of Accurate Bookkeeping for Tax Season

Less Accounting

In this blog post, we will explore the importance of accurate bookkeeping for tax season, highlighting its benefits and offering practical tips for maintaining impeccable financial records. Inaccurate or incomplete records can lead to costly penalties, audits, and even legal troubles.

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Generate Your Own Business Bank Statements

LedgerDocs

These generated statements are ideal for catch-up bookkeeping, audits, and financial reviews. Reconcile with Bank Records: Always reconcile your generated statements with the official records from your bank to catch any discrepancies early. LedgerDocs Blog Want to see our tool in action? Schedule a free demo.

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Bill Payment Fraud: How to Protect Your Business from Scams and Unauthorised Transactions

Counto

Reconcile accounts promptly to identify discrepancies. Conduct regular audits to identify weaknesses in financial workflows. Set up alerts for large or unusual transactions. Implement Internal Controls Assign different employees for invoice approval and payment processing.

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