Mon.Jul 17, 2023

article thumbnail

Nonprofits benefit from remote accountants

Accounting Today

Despite the return to the office following the easing of the COVID pandemic, some accountants who work with nonprofit organizations are still working remotely as well.

article thumbnail

Automate Client Savings with Relay's Savings Accounts & Auto Transfer Rules

Blake Oliver

Relay now has Savings Accounts! Watch this 2-minute video to learn how to pair Savings Accounts with Auto Transfer Rules to help clients save a little bit every day AND earn interest — all without lifting a finger.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Art of Accounting: No pipeline myth

Accounting Today

Today's new partners will be tomorrow's leaders, just as yesterday's new partners are today's leaders.

article thumbnail

Does A/R Know When to Escalate to Collections?

Enterprise Recovery

If your business is in a situation where goods or services have been provided, but your customer has failed to pay their invoice on time, it's up to your accounts receivable team to follow up. Your A/R department, however, can only do so much to ensure that your business receives the payment it deserves and maintains a healthy cash flow. It's crucial to provide a detailed process for escalating past-due invoices beyond accounts receivable to collections.

article thumbnail

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.

article thumbnail

Inside the SBA's new rules

Accounting Today

Small Business Administration loan expert Shannon Hay talks about the changes to the SBA's new SOP around lending, and what they mean for accounting firms and their clients.

article thumbnail

How to write off a bad debt

Accounting Tools

Related Courses Bookkeeping Guidebook How to Audit Receivables New Controller Guidebook A bad debt can be written off using either the direct write off method or the provision method. The first approach tends to delay recognition of the bad debt expense. It is necessary to write off a bad debt when the related customer invoice is considered to be uncollectible.

More Trending

article thumbnail

What is GAAP?

Accounting Tools

Related Courses GAAP Guidebook International Accounting GAAP is short for Generally Accepted Accounting Principles. GAAP is a cluster of accounting standards and common industry usage that have been developed over many years. It is used by organizations to properly organize their financial information into accounting records , summarize the accounting records into financial statements , and disclose certain supporting information.

article thumbnail

Wipfli merges in Clayton & McKervey

Accounting Today

The Top 20 Firm is expanding its presence in Michigan.

130
130
article thumbnail

Inventory cost definition

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory Inventory Management What is the Cost of Inventory? Inventory cost includes the costs to order and hold inventory , as well as to administer the related paperwork. This cost is examined by management as part of its evaluation of how much inventory to keep on hand. This can result in changes in the order fulfillment rate for customers, as well as variations in the production process flow.

Payroll 70
article thumbnail

Business Travel Index

Tipalti

Discover the ultimate Business Travel Index, a definitive resource providing insights into the world of corporate travel. Stay informed about the latest trends, rankings, and tips for successful business travel.

52
article thumbnail

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.

article thumbnail

Succession Planning for Solo Practitioners

Insightful Accountant

In our upcoming webinar, join Tax Titans' Alan Blakeborough as he discusses why succession planning matters for today's solo accountants and small firms. Join us, Wednesday, July 19, at noon (EST). You can register here.

Tax 52
article thumbnail

Instant Document Automation with Zero Shot

Nanonets

Artificial intelligence and machine learning have become indispensable tools in today’s fast-paced business world. One of the key issue issues has been the time, cost, and expertise required to automate processes like document automation. This is where Zero Shot Learning (ZSL) comes in. Today, automation is necessary for companies looking to streamline operations, reduce costs, and improve accuracy.

article thumbnail

QB Talks is Wednesday, July 19, 2023, at 2 p.m. (EST)astern

Insightful Accountant

Learn how to protect yourself and ensure compliance with the mandates of the FTC and IRS when it comes to safeguarding personal information you obtain as part of financial transactions in the course of business.

52
article thumbnail

How CloudZero Allocates Spend Differently (And Better) Than Anyone Else

CloudZero

The need to optimize cloud costs is a fact of life for SaaS companies — it’s required to stay competitive. But to optimize effectively, you’ll first need to find a way to accurately allocate all costs to the resources, teams, products, features, and customers that generated them.

52
article thumbnail

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!

article thumbnail

Top 5 Outsourced Bookkeeping Companies for CPA Firms to Streamline Your CPA Practice

CapActix

The practice of spending money on an in-house team of accounting experts is outdated. Now, businesses understand the worth of outsourcing bookkeeping services as it gives financial and mental relief to business owners. This has uplifted the market of CPAs and somewhere, it has also increased the workload on businesses offering CPA services in the USA and worldwide.

article thumbnail

Mortgage definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is a Mortgage? A mortgage is a loan that is used to pay for a portion of the price of real estate. The loan typically requires a fixed schedule of repayments. The underlying real estate is used as collateral on the loan. If the borrower does not make loan payments on a timely basis, the lender can seize and sell the property, using the proceeds to pay off the remaining loan balance.

article thumbnail

New QuickBooks Workforce App Goes International

Insightful Accountant

In addition to the US, the new QuickBooks Workforce app is available to users in Canada, the UK and Australian. Users now can manage their work, pay and benefits within a single app.

article thumbnail

Cost recovery method definition

Accounting Tools

Related Courses How to Audit Revenue Revenue Recognition What is the Cost Recovery Method? Under the cost recovery method, a business does not recognize any income related to a sale transaction until the cost element of the sale has been paid in cash by the customer. Once the cash payments have recovered the seller's costs, all remaining cash receipts (if any) are recorded in income as received.

article thumbnail

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.

article thumbnail

Group financial statements definition

Accounting Tools

Related Courses Business Combinations and Consolidations What are Group Financial Statements? Group financial statements are financial statements that include the financial information for more than one component. A component is an entity or business activity for which financial information is separately prepared, and which is included in the group financial statements.

article thumbnail

Markdown cancellation definition

Accounting Tools

What is a Markdown Cancellation? A markdown cancellation occurs when a previously announced markdown is terminated or reduced in scope. This can mean that an existing markdown now applies to fewer products or services.

40
article thumbnail

Selling and administrative expense budget

Accounting Tools

Related Courses Budgeting Capital Budgeting What is the Selling and Administrative Expense Budget? The selling and administrative expense budget is comprised of the budgets of all non-manufacturing departments, such as the sales, marketing, accounting, engineering, and facilities departments. In aggregate, this budget can rival the size of the production budget , and so is worthy of considerable attention.

article thumbnail

Market interest rate definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is the Market Interest Rate? The market interest rate is the prevailing interest rate offered on cash deposits. This rate is driven by multiple factors, including central bank interest rates, the flow of funds into and out of a country, the duration of deposits, and the size of deposits.

article thumbnail

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.

article thumbnail

Manufacturing cell definition

Accounting Tools

Related Courses Operations Management What is a Manufacturing Cell? A manufacturing cell is a grouping of machines on the production floor. This grouping is designed to promote high levels of product quality by having a few people handle several processing steps within a compressed area. This arrangement can save a substantial amount of floor space, and minimizes the transport of goods within a facility.

40
article thumbnail

Shift differential definition

Accounting Tools

Related Courses Human Resources Guidebook Optimal Accounting for Payroll Payroll Management What is a Shift Differential? A shift differential is an extra boost in pay given to employees when they work on late shifts. For example, a company increases the pay of anyone working on its graveyard shift by 10%, or an emergency care clinic pays its doctors an extra $300 to work the second shift.

Payroll 40
article thumbnail

Moving average definition

Accounting Tools

Related Courses Essentials of Business Math What is a Moving Average? A moving average is the average price of something, which is constantly adjusted over time to reflect the addition of new data. For example, someone might want to track the moving average of a company's stock on the open market, and so develops a 90-day moving average; this average is calculated based on the ending stock price for just the past 90 days.

article thumbnail

Management audit definition

Accounting Tools

Related Courses Mergers and Acquisitions New Manager Guidebook What is a Management Audit? A management audit is an assessment of the capabilities of the management team of an organization. The analysis is intended to evaluate how well this group is able to achieve the objectives of the business. The audit may address strategic and tactical planning, decision making, the financial and operational results of the business, and risk management.

article thumbnail

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!

article thumbnail

Materials management definition

Accounting Tools

Related Courses Constraint Management Inventory Management Purchasing Guidebook What is Materials Management? Materials management is a cluster of processes used to plan for and control the flow of inventory into, through, and out of a business. These processes are concerned with identifying the need for inventory, procuring and storing it, scheduling the inventory into production, and warehousing and distributing the finished product.

40
article thumbnail

Depletion method definition

Accounting Tools

Related Courses Accounting for Mining Fixed Asset Accounting Oil and Gas Accounting What is the Depletion Method? Depletion is a periodic charge to expense for the use of natural resources. Thus, it is used in situations where a company has recorded an asset for such items as oil reserves, coal deposits, or gravel pits. The calculation of depletion involves these steps: Compute a depletion base Compute a unit depletion rate Charge depletion based on units of usage The resulting net carrying amou