Thu.Sep 21, 2023

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Digital transformation beat expectations, but profits lag

Accounting Today

A KPMG poll found more than half of businesses say digital transformation initiatives have exceeded expectations for ROI but this may not necessarily translate into more profits.

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5 Essential KPIs to Track for Your Growing Business

Accounting Department

As a growing business, it's essential to monitor and track various key performance indicators (KPIs). This is crucial in assessing the performance of your business, determining the areas that need improvement, and making informed decisions.

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Small businesses face new family leave and pay requirements

Accounting Today

Businesses have been dealing not only with inflation and rising interest rates, but also new requirements for family leave, minimum wage increases, and pay transparency rules.

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Celebrate Your Team: Finance & Accounting Appreciation Week 

AvidXchange

T h e I n s t i t u t e o f F i n a n c e & M a n a g e m e n t (IOFM) ’ s Finance & Accounting Appreciation Week is September 25-29, 2023. Now’s the time to order treats and circulate cards for your hard-working accounts payable (AP) team. AvidXchange’s own Rhonda Greene, principal solutions consultant, said it best: “I’ve never worked with an AP person that didn’t want to make a difference.

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8 Signs Your Accounting Team Is Ready to Automate Month-End Close

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

How do you know if your accounting team is ready to automate the month-end close? Join us in this informative webinar, where we share the top 8 signs that indicate that a team has outgrown all existing tools and may be ready to embark upon month-end close automation. We will examine the process clues that help determine whether your team would be a good candidate for automation.

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The crucial role of document management in accounting firms

Accounting Today

In the complex world of finance and accounting, precision is paramount. Every transaction, every number, every document, and every piece of data holds immense value.

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Accounting Tips for Engineering Companies

CSI Accounting & Payroll

Engineering companies face complex issues for clients, and your accounting can be equally as challenging. Depending on the size of your company, you may have different concerns. At CSI Accounting & Payroll, we've worked with engineering companies for over 50 years. We know that keeping on top of your accounting is not as straightforward as it is for some other small businesses.

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The ERC Jumps The Shark with Snoop Dogg Deepfake

Cloud Accounting Podcast

Buckle up for a wild ride covering everything from brazen ERC scams to cutting-edge AI. Join Blake and David as they expose the rampant fraud sucking billions from the federal coffers. You'll hear an unbelievable voicemail scam promising gangbusters refunds—could it really be Snoop Dogg or is your mind playing tricks? Fast forward to the bleeding edge of technology with jaw-dropping examples of AI voice and face swapping.

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Revived Andersen accounting firm sees revenue up 19% this year

Accounting Today

The consultancy, created by former partners of Arthur Andersen, expects revenue to exceed $1.9 billion this year.

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Canon imageFormula R40 Receipt Edition

Insightful Accountant

Murph checked out the Canon imageFormula R40 Receipt Edition for QuickBooks Online. See how it captures receipts, extracts key data, and sends the data and image to QuickBooks in a few clicks, and handles other documents just as well.

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AI for accounting marketing: A SWOT analysis

Accounting Today

A look at the strengths, weaknesses, opportunities and threats of tools like ChatGPT in promoting professional services.

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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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What Is QuickBooks Hosting? How does QuickBooks on Cloud Benefits your Business?

Ace Cloud Hosting

QuickBooks Hosting is the process of installing the QuickBooks Desktop accounting software on the cloud server, making it accessible via a web browser. It leverages cloud-based technology to deliver enhanced.

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Tax Fraud Blotter: Notable criminal histories

Accounting Today

Charity for none; Dr. Backdate; frivolous correspondence; and other highlights of recent tax cases.

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9 Best Client Accounting Services Software for Modern Firms

Jetpack Workflow

When you’re already busy running a growing accounting firm, you probably don’t need another article covering the essential accounting tools every firm needs. However, using client accounting services (CAS) software may be helpful as you scale your advisory business. CAS software includes tools for collecting recurring payments, providing your team with a modern sales experience, and staying organized with service fulfillment.

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Juror who made race comments removed from $1.3B tax case

Accounting Today

A trial threatened to descend into chaos after 12 jurors clashed over race and class while weighing charges against a wealthy developer and two others accused of arranging $1.3 billion in phony tax deductions.

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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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10 Reasons to Boost Your Revenue and Efficiency with Accounting Outsourcing Services

CapActix

The business of CPAs is blossoming in the USA, the UK, and several other parts of the world due to increasing statutory requirements, the emphasis on data-driven business decision-making, better resource management, and other aspects. As the trends have been changing over the past few years, small to large-scale businesses have realized the worth of outsourced accounting to a reliable CPA firm or an offshore accounting company.

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Merrick Garland says Hunter Biden probe conducted without interference

Accounting Today

Lawmakers suggested investigators were hamstrung from bringing charges and questioned why the statute of limitations was allowed to expire for some tax offenses without charges being brought.

Tax 165
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Roman Kepczyk | The Power of Cloud Solutions for Accounting Firms of All Sizes

Insightful Accountant

Gary DeHart and Roman Kepczyk, CPA, discuss the importance and advantages of hosted/remote/cloud based solutions for accounting firms of all sizes.

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Mendlowitz establishes scholarship at Baruch

Accounting Today

The accounting icon has found yet another way to give back in addition to his teaching, mentoring, writing and many other contributions to the profession.

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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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Understanding the Difference: Purchase Order vs Invoice

Nanonets

To effectively manage procurement and financial processes, it is crucial to understand the distinction between a  purchase order  and an  invoice. While both documents contain similar information, they serve different purposes in the purchasing process. A  purchase order  is issued by the buyer to outline the products or services needed.

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How to recruit the next generation of CPAs

Accounting Today

Accounting firms need to be bolder with their recruiting, and these four strategies can help.

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Unearth the Benefits of Finance Automation Today!

Nanonets

Finance automation  is revolutionizing the way businesses manage their financial processes, streamlining operations, and maximizing productivity. By utilizing technologies like  artificial intelligence  and  machine learning ,  finance automation  eliminates manual tasks, allowing finance teams to focus on more critical functions such as financial planning and analysis.

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Yellen signals support for windfall tax on frozen Russian assets

Accounting Today

The Biden administration has come under pressure to seize the funds outright, something Yellen has said would be illegal under current law.

Tax 159
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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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Understanding the Difference: Accounts Payable vs Notes Payable

Nanonets

Managing debts and payments in business involves understanding the crucial differences between accounts payable and notes payable. Accounts payable refers to short-term debts owed to suppliers, partners, or contractors that must be paid within a specific timeframe, usually monthly. On the other hand, notes payable is a broader concept that allows for longer periods of financial planning and control.

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Mendlowitz establishes family scholarship at Baruch

Accounting Today

As a lecturer, Ed believes in the power of handing down knowledge to future generations.

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Overcoming Accounting Problems: Your Friendly Guide

Nanonets

Accounting problems  can create significant challenges for businesses, affecting their  financial flow  in the  US. Resolving these problems is crucial to ensure a smooth and efficient operation. In this article, we will explore common  accounting problems  faced by businesses and provide  solutions  to overcome them.

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All Signs Pointing Up for Economy

Insightful Accountant

Deloitte's recent '2023 Q3 CFO Signals' survey shows that optimism for the economy is rising among large-company CFOs.

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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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Understanding the Difference: Quote vs Invoice Explained

Nanonets

Quotes and invoices play crucial roles in business transactions, but it's essential to understand how they differ in terms of purpose and function. A  quote  is an estimation of the cost of a product or service that is provided to a potential customer before a sale is made. It outlines the work to be done, materials needed, labor, and the estimated cost.

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Management advisory services definition

Accounting Tools

What are Management Advisory Services? Management advisory services are consulting services performed by a specialist organization for its clients. These services are intended to provide advice regarding the operations and finances of clients. The services may address any of the following areas: Asset valuation Business strategy Computer systems Litigation support Mergers and acquisitions Organizational structure Process analysis Risk management A CPA firm may provide management advisory service

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Revolutionize Your Store with ERP for Retail Solutions

Nanonets

Implementing an ERP system in the retail industry can revolutionize store operations, enhancing efficiency and optimizing business processes.  Retail ERP software  helps automate and streamline various aspects of a retail business, including supplier management, financial management, supply chain management, sales management, and  customer relationship management.

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Time and materials pricing definition

Accounting Tools

Related Courses Revenue Management Revenue Recognition What is Time and Materials Pricing? Time and materials pricing is used in the service and construction industries to bill customers for a standard labor rate per hour used, plus the actual cost of materials used. The standard labor rate per hour being billed does not necessarily relate to the underlying cost of the labor; instead, it may be based on the market rate for the services of someone having a certain skill set, or the cost of labor

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Book of Secrets for the Month-End Close

Developing a consistent month-end close doesn’t need to be a mystery. We’re sharing our top 10 secrets (plus one bonus!) for streamlining your close.