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Lots of ground to cover today, including why millions of PPP borrowers still haven't applied for forgiveness, what firms would have done differently this past tax season, news on a new infrastructure bill held up by crypto rules, and what closing date set for SVOG means. In app news, we'll examine why hundreds of AI tools developed to predict coronavirus infections failed miserably. Then in news of gigantic funding rounds, Gusto takes in a lotta cash, and FreshBooks (an accounting firm) has become a unicorn, raising $130M; Lockstep also got some cash. Moving on to upgrades, and the like, we're talking Xero, their app upgrade, and their collab with Revolut. We'll talk about how the IRS is using QR codes, take a look at the ZenBusiness Money launch, US Bank's purchase of Bento for Business, and Check's (the Stripe of payroll) new QBO integration. All that, more, and reviews from you! Thank you!
Show Notes
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Show Notes
10:02 – Survey: COVID relief, changing laws were last tax season’s headaches
12:20 – IRS Funding Surge Punted From Bipartisan Infrastructure Package
13:26 – Cryptocurrency brawl bogs down infrastructure bill, as Yellen and White House fight changes
18:00 – Closing date set for new Shuttered Venue Operator Grant applications
21:04 – Former Dixon comptroller Rita Crundwell released from prison early
https://www.wifr.com/2021/08/05/former-dixon-comptroller-rita-crundwell-released-prison-early/?utm_source=pocket_mylist
https://www.wifr.com/2021/08/05/former-dixon-comptroller-rita-crundwell-released-prison-early/?utm_source=pocket_mylist
22:25 – All the Queen’s Horses Documentary on YouTube – Free
24:05 – Hundreds of AI tools have been built to catch covid. None of them helped.
https://www.technologyreview.com/2021/07/30/1030329/machine-learning-ai-failed-covid-hospital-diagnosis-pandemic/
https://www.technologyreview.com/2021/07/30/1030329/machine-learning-ai-failed-covid-hospital-diagnosis-pandemic/
31:06 – Reflecting on the evolution of bank reconciliation at Xero
33:36 – Taking business banking to the next level with Revolut
More Reading on Xero:
Xero Upgrades Bank Reconciliation Feature
https://www.accountingweb.com/technology/accounting-software-news/xero-upgrades-bank-reconciliation-feature
https://www.accountingweb.com/technology/accounting-software-news/xero-upgrades-bank-reconciliation-feature
Xero revamps bank recs, injects AI
36:43 – HR software company Gusto raises $175 million
Gusto Raises $175M in Series E Funding
38:20 – Accounting firm FreshBooks hits unicorn status, plans global growth after raising US$130-million
43:56 – 'Connected accounting' startup closes $13M funding round
Lockstep Website
46:36 – New IRS tax collection notices offer QR code contact option
47:36 – ZenBusiness Democratizes Small Business Finance With New All-Inclusive Payments App ZenBusiness Money
https://www.businesswire.com/news/home/20210810005143/en/ZenBusiness-Democratizes-Small-Business-Finance-With-New-All-Inclusive-Payments-App-ZenBusiness-Money
https://www.businesswire.com/news/home/20210810005143/en/ZenBusiness-Democratizes-Small-Business-Finance-With-New-All-Inclusive-Payments-App-ZenBusiness-Money
50:29 – US Bank to Buy Bento Technologies
53:13 – Announcing Check + Quickbooks Online – Check
53:44 – The news from you! We’ve got reviews! Thank you, Cbordeaux, Amanda from NOLA, Rachael, and Eddie Valls!
55:35 – As if reviews weren’t enough, we got voicemail! Thank you, Scott Scarano!
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What is The Accounting Podcast?
The Accounting Podcast (formerly the Cloud Accounting Podcast) is the world's #1 accounting, bookkeeping, and tax podcast! Join us weekly for a roundup of accounting news, analysis, and interviews. Plus, earn free NASBA-approved CPE credits for listening with the Earmark app. Learn more at https://earmarkcpe.com.