Fri.Mar 01, 2024

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With 340,000 fewer accountants, companies pay the price

Accounting Today

The lack of help means current accountants' hours and workloads can be grueling, upping the odds of mistakes and burnout.

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Tax accounting definition

Accounting Tools

What is Tax Accounting? Tax accounting refers to the rules used to generate tax assets and liabilities in the accounting records of a business or individual. Tax accounting is derived from the Internal Revenue Code (IRC), rather than one of the accounting frameworks , such as GAAP or IFRS. Tax accounting may result in the generation of a taxable income figure that varies from the income figure reported on an entity's income statement.

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How taxes reflect and exacerbate racial wealth disparities

Accounting Today

Stubbornly persistent differences between white and Black households' income and assets present financial advisors with the big-picture implications of their work.

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Dispelling Myths: Understanding Form 1099-K for 2024

Insightful Accountant

To help taxpayers with filing, the Internal Revenue Service today debunked some common myths to help taxpayers understand what to do with Form 1099-K.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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IRS Direct File pilot expands testing

Accounting Today

The IRS is planning to offer its free tax prep system around the clock next week and open it to a larger group of outside testers.

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Sage 50 Cloud Hosting Guide For Beginners

Ace Cloud Hosting

Are you looking to integrate Sage 50 cloud hosting into your business’s operations? If so, this guide is the perfect place to start. Cloud-based accounting solutions like Sage 50 offer.

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The Future of QuickBooks

Earmark Accounting Podcast

(Originally recorded on February 15, 2024 on Earmark Webinars+) Hector and Blake recount a brief history of QuickBooks Desktop vs QuickBooks Online through the end of 2023, the state of Intuit’s current offers and posturing in the market, and where they think QuickBooks is moving into for 2024 and beyond. Chapters (01:11) - Hector's Journey: From Tax Practice to Tech Innovator (03:16) - A Deep Dive into QuickBooks' Evolution (07:12) - The Shift to QuickBooks Online and Its Ecosystem (11:41) - Pr

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Why AI can be accountants' next big pivot

Accounting Today

Some generative AI scenarios and machine learning models can add incredible value even if they are right only 90% of the time.

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Amazon EKS Pricing + Cluster Deployment Tutorial

Economize

As containerization became a popular choice among businesses, the need for a system to manage and scale these containerized applications became increasingly apparent. In 2013, Google started an internal project to develop a container management system, which later became Kubernetes (K8s), an open-source project developed for container orchestration.

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Practice Profile: Practicing what they preach

Accounting Today

An early pioneer in the ESOP space, Katz, Sapper & Miller now advises clients on the alternative business structure.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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A Guide to Choosing the Right A/R Outsourcing Partner

Enterprise Recovery

When selecting an outsourcing partner for your accounts receivable needs, it is essential to explore a variety of key factors to ensure a successful partnership. Understanding your business needs is only the first step in this process. By clearly identifying your goals, objectives, and the level of support required, you can better evaluate potential partners that align with your specific requirements.

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Tech News: FinQuery releases contract management solution

Accounting Today

Plus, Vic.ai announces fee transition; and other updates from the accounting tech arena.

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How Payroll Companies Can Assist With Estimated Job Costing

CSI Accounting & Payroll

As the owner of a small business, you may find yourself curious about job costing. That’s a good thing! It means you want more insight into your finances and productivity. However, most payroll providers don’t offer full and true job costing. (We can’t think of anybody who does!) Is there any way around this? At CSI Accounting & Payroll, we’ve worked with small businesses for over 50 years.

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SEC to hold vote on climate disclosure rule

Accounting Today

The Securities and Exchange Commission has scheduled a meeting for March 6 on its long-awaited climate disclosure rule.

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Your New & Improved Month-End Close Process Is Not So Far Out of Reach!

All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!

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Top 5 QB Talks

Insightful Accountant

We’ve taken a look at the Top 5 Most Popular QB Talks just incase you might have missed them. If you missed them, sit back, watch a few episodes and take a break!

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Yes, audit opinions still matter

Accounting Today

Despite suggestions to the contrary, audits remain valuable and serve a grander purpose.

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Accountants are so annoying (in rhyme)

Accounting Fun

He sits at his desk With his horn-rimmed specs Doing sums on a calculator And come rain or shine You know bloody fine There's a bill to pay sooner or later. He adds and subtracts And works out your tax Messing about with the figures. You've done fairly well So how in the hell Is that overdraft still gettin' bigger? Those accounts are too much It's all double dutch So you 'phone up for him to explain.

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Trust Me, I'm an AI: Aaron Harris on the Future of Accounting

Cloud Accounting Podcast

Aaron Harris joins Blake and David to discuss Sage's new AI offering, Sage Copilot, which brings generative intelligence into Sage Intacct to eliminate routine accounting work. They discuss specific use cases Copilot handles, like chasing people for approvals/documents, drafting emails, and answering ad hoc questions without running reports. Aaron also shares his perspective on AI’s impact on the accounting profession and why increased automation will make human review and trust even more essent

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The Definitive Guide to Spend Management

The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.

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Types of construction contracts

Accounting Tools

There are several types of construction contracts, where each one is designed to deal with a different customer requirement. By knowing the contract options, the contractor and customer can select the best option to match their needs and manage risks. The main types of construction contracts are fixed price, cost plus, and unit-price. The features of each contract type are as follows, with variations from the basic concepts also noted.

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Netsuite Vendor Management

Tipalti

Learn how to build long-lasting vendor relationships by merging Netsuite vendor management software with integration add-ons for a seamless experience.

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What is AP Automation? Going Back to Basics 

AvidXchange

Wondering, “What is AP automation?” Need an AP Automation 101 course? You’ve come to the right place. In this article we’re going back to basics, explaining what AP automation is, how it differs from manual AP processes and what benefits AP departments can expect from automating. No time to read? No problem. You can multitask and listen to our “Net 30” podcast episode on the basics of AP automation by clicking the player below or downloading it on your favorite podcast platform, including Spo

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Breaking Barriers: Celebrating Women’s Influence in B2B Credit

NACM

?️ On today's episode of NACM's Extra Credit podcast. During this Women's History Month, we're honoring women through their challenges and successes in their journey to becoming influential credit leaders!⭐ Starring Somer John; Alicia Perez Johnson; and Erin Stammer, MPA-HA, CCE!? Read the full story in the March issue of Business Credit magazin.

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

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Your Essential Guide to Monthly Recurring Revenue

Billing Platform

Monthly recurring revenue (MRR) is the money you make every month from customers purchasing your products or services. This is the amount you can rely on receiving regularly. It is a key metric for businesses to track their financial performance. MRR helps businesses understand their revenue stream and plan for future growth. Subscription-based software-as-a-service (SaaS) companies commonly use it.

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Biden will push higher taxes for the rich in State of the Union

Accounting Today

The president will advocate plans to increase taxes on the wealthy and corporations as well as to lower prescription drug prices in his speech next week.

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