Wed.Sep 06, 2023

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Introducing Intuit Assist

Intuit

Intuit Assist delivers personalized recommendations and does the hard work for you. Today, we introduced Intuit Assist, a new generative AI (GenAI)-powered assistant that will provide personalized, intelligent recommendations to help consumer and small business customers make smart financial decisions with less work and complete confidence, enabling them to put more money in their pockets.

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Promoting an employee may lead them to leave

Accounting Today

The ADP Research Institute released a report on how worker promotions can affect businesses and employee retention and debuted a new index for tracking employee motivation and commitment.

Payroll 323
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Xero wins Canstar’s Most Satisfied Customer Award in New Zealand

Xero

For the fifth year in a row, Xero has taken out Canstar’s Most Satisfied Customer Award for small business accounting software. This is an incredible achievement, showcasing our value to small businesses across Aotearoa New Zealand. Canstar Blue is a customer satisfaction research and ratings business aimed at helping consumers make better purchasing decisions.

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Tax departments go through transformation

Accounting Today

Corporate tax departments are going through major transformation in response to the challenging legal and regulatory environment, according to a new survey from Deloitte.

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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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Small Business Financing: Which Type Is Best? 

AvidXchange

“It takes money to make money.” We’ve all heard the phrase. It’s especially true for small businesses. But it’s harder than ever for small businesses to secure the financing they need to operate. Interest rates are the highest they’ve been in decades and banks are tightening lending standards. Small businesses are feeling the crunch as inflation drives up prices and supply chain challenges persist.

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FASB approves crypto asset standard

Accounting Today

The Financial Accounting Standards Board voted to adopt its eagerly awaited standard for cryptocurrency like Bitcoin held by companies.

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Navigating AI before the busy season crunch

Accounting Today

There is no doubt generative artificial intelligence is gaining popularity as industries, including accounting, debate how it can be adopted into workflows.

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Introducing: Cash Application, Credit Application Management, Integrated AI and Much More

Gaviti

At Gaviti, we are committed to providing you with the most cutting-edge solutions to streamline your accounts receivable management processes. We’re excited to unveil the incredible lineup of new modules and features we’ve added to our platform in the last few weeks. These additions have been carefully crafted to address the evolving needs of businesses, ensuring you have the tools to minimize errors, maximize efficiency, and optimize your cash flow like never before.

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Python in Excel, and other tech stories you may have missed last month

Accounting Today

Microsoft is adding the programming language to its iconic spreadsheet program, Google is diving into e-signatures, and eight other new developments.

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Meet "Intuit Assist"

Insightful Accountant

Intuit’s new Generative AI-Powered Assistant for consumers and small businesses was introduced during its Innovation Day Event on Sept. 6, 2023.

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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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More tax relief for Idalia victims

Accounting Today

The IRS is giving South Carolina residents impacted by the storm later filing and payment dates.

Tax 311
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Corporation advantages and disadvantages

Accounting Tools

Related Courses C Corporation Tax Guide S Corporation Tax Guide Types of Business Entities What are the Advantages of a Corporation? A corporation is a legal entity, organized under state laws, whose investors purchase shares of stock as evidence of ownership in it. The advantages of the corporation structure are as follows: Limited liability. The shareholders of a corporation are only liable up to the amount of their investments.

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Wyoming's crypto hopes collide with economic reality

Accounting Today

So far, crypto hasn't moved the needle for the state's treasury, which is already restricted by the absence of corporate income tax.

Tax 164
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Run rate definition

Accounting Tools

Related Courses Budgeting Financial Forecasting and Modeling What is Run Rate? The run rate concept refers to the extrapolation of financial results into future periods. For example, a company could report to its investors that its sales in the latest quarter were $5,000,000, which translates into an annual run rate of $20,000,000. It is based on the assumption that current results will continue into the future.

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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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Deadline looms for updating Opportunity Zone plans

Accounting Today

Your OZ clients' working capital safe harbor business plans need to be updated by Sept. 8, 2023.

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GCP FinOps Hub : FinOps Score & Benchmarking Tutorial

Economize

The FinOps Hub – GCP’s latest innovation in Cost Optimization With cloud expenses often resembling a complex maze, it becomes crucial for organizations to have a clear line of sight into their spending. Inefficient cloud resource management not only results in financial wastage but also hampers the organization’s capacity to innovate.

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Wipfli acquires Sheshunoff units

Accounting Today

The Top 20 Firm bought the risk management and loan review services divisions of Sheshunoff Consulting + Solutions.

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How I Manage My 100% Offshore Team

Future Firm

Firm owners can overcome capacity constraints by tapping into global talent pools, but you need to have the right approach for offshoring to work. In this podcast episode, I shared my strategies and insights to navigate this transformative workfoce model successfully. Listen Below. 0:58 – Many of us are swamped. The workload keeps piling up, and while it’s beneficial for our financial success, it’s a real challenge to locate the right personnel to handle it. 2:16 – I neve

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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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Vendor Spotlight: InsightSoftware

Accounting Today

In this week's Vendor Spotlight we talk to vice president of finance for InsightSoftware, Josh Schauer.

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117 – How I Manage My 100% Offshore Team

Future Firm

Firm owners can overcome capacity constraints by tapping into global talent pools, but you need to have the right approach for offshoring to work. In this podcast episode, I shared my strategies and insights to navigate this transformative workfoce model successfully. Listen Below. 0:58 – Many of us are swamped. The workload keeps piling up, and while it’s beneficial for our financial success, it’s a real challenge to locate the right personnel to handle it. 2:16 – I neve

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Introverted bookkeepers: how to confidently talk to prospective clients

5 Minute Bookkeeping

Does the thought of talking to strangers just make you want to hide under your desk? Believe me, I have been there. Don’t worry because I’ve got your back. Today, I’ll discuss tips to boost your confidence and navigate sales call with ease. So, get ready introverted bookkeepers: how to confidently talk to prospective clients. 1. Research Before the call, take some time to visit their website and familiarize yourself with their business and industry.

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Credit insurance definition

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections What is Credit Insurance? Credit insurance is an insurance policy that pays a seller if a buyer does not pay an invoice. In effect, the risk of incurring a bad debt is shifted from the seller to the insurer. The insurer should be willing to provide coverage against customer nonpayment if a proposed customer clears its internal review process.

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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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12 Great Client Portals for Accountants

Future Firm

Navigating the ever-evolving landscape of accounting requires efficient client management, and that’s where client portals come in. In this article, I present a curated list of the top 12 client portals available in the market today. Let’s explore their features, advantages, and drawbacks to help you make an informed choice. Let’s go! Table of Contents What are Client Portals for Accountants?

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The online credit application

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections What is an Online Credit Application? An online credit application is a form that a credit applicant can complete online. Once completed, the applicant is more likely to receive an immediate review of the application, resulting in an acceptance or rejection. This may be done by an automated system, or simply by having the application routed to an analyst as soon as it is completed by the customer.

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Why Business Owners Should Hire Remote Accountants for Accounting Operations

CapActix

Preface Analogous to several other industry verticals, accounts and finance as well as  remote accounting  has been a trend even before the COVID-19 pandemic. The pandemic indeed fueled the popularity of this trend. Businesses that used to be skeptical about remote working models and their integrity have also realized the real worth of remote staffing and remote working.

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Check payments by fax

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law How to Receive Check Payments by Fax It is possible to receive a check payment from a customer by fax. It is even recommended when you want to obtain a payment as quickly as possible. This involves having a customer fax or email a scanned image of a completed and signed check to the seller, after which you follow these steps: Obtain check printing software, which is available from many companies (s

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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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Member Spotlight: Influence and Inspire with Certifications

NACM

​The role of a credit manager goes far beyond credit and collections. Credit professionals are not only versed on the technical side of credit, such as financial statement analysis, but versed on the soft side of credit, such as negotiation and relationship building. But one of the other skills credit professionals have is the ability to grow and i.

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Bad debt forecasting

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections How to Forecast Bad Debt It is quite difficult to derive a forecast of bad debts , since a number of variables impact the ability of a customer to pay an invoice , and those variables are difficult to anticipate. Typically, a collections manager estimates the amount of bad debt by guesstimating which specific invoices will not be paid, or by estimating the amount of losses that will arise from each 30-day time bucket in the ag

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Improving The Image of Accounting

Cloud Accounting Podcast

We’ve got an AI-packed episode this week! Ryan Lazanis demonstrates how AI and voice cloning technology can be utilized to streamline the analysis of financial statements. Blake and David examine various applications of AI in accounting, including tools for extracting key information from emails and documents, an AI-powered tax analysis tool, and the potential for AI to enhance advisory services.

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Collection dispute cycle time

Accounting Tools

Related Courses Credit and Collection Guidebook Effective Collections What is Collection Dispute Cycle Time? Collection dispute cycle time is the time required to resolve the average collection dispute. The simplest approach is to use the same case tracking system used by the customer support function, and record within it the beginning and end dates for each dispute, as well as the amount in dispute, the cause of the problem, and who is handling its disposition.

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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.