Tue.Aug 08, 2023

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Big Four: AI will augment, not replace, accountants

Accounting Today

The four largest firms are squarely on 'Team Human' when it comes to artificial intelligence — and don't believe the tech is even at a level where it can take over all of a human's job.

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Key Factors to Consider While Choosing the Right Bookkeeping Service Provider

Accounting Department

Outsourcing bookkeeping functions can be a strategic decision for businesses, providing professional expertise and freeing up valuable time for core operations. However, selecting the right bookkeeping service provider is crucial to ensure a seamless and successful partnership. In this blog post, we will guide business owners in choosing the right bookkeeping service provider by highlighting key factors such as industry experience, service offerings, reputation, technology integration, and clien

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IRS employee union gets new leader

Accounting Today

The National Treasury Employees Union, whose members include Internal Revenue Service agents and revenue officers, elected Doreen Greenwald, a longtime federal employee and local union leader as the next national president.

Tax 246
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Best Accounting & Payroll Methods for Mental Health Practices

CSI Accounting & Payroll

When you own a mental health practice, your main goal is to help your patients have a brighter future. After focusing on treating the different things that cause them discomfort or distress, you don't want to slow down enough to put in the extra hours that accounting and payroll require. Have you ever considered outsourcing these tasks to save you time and help you avoid costly mistakes?

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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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Holographic wills: More risk than reward

Accounting Today

The recent case of Aretha Franklin's estate highlights the issues surrounding these handwritten testaments.

Tax 246
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Top Invoice Factoring Companies in Michigan

FundThrough

As business owners, we’re all too familiar with the challenges of maintaining cash flow. Waiting for accounts receivable can slow your business’s progress and ability to seize new opportunities. In cases where you need more reliable cash flow for payroll, big projects that will grow your company, equipment, or any other expense, factoring can be […] The post Top Invoice Factoring Companies in Michigan appeared first on FundThrough.

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Tips for taking on a messy comingling cleanup in QuickBooks Online

5 Minute Bookkeeping

Starting with a new bookkeeping client can be an exciting opportunity, but what happens when their books are a mixed mess of personal and business transactions? It becomes crucial to implement effective strategies to untangle the comingling mess and establish proper bookkeeping practices. When that happens to you, here are my tips for taking on a messy comingling cleanup in QuickBooks Online.

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The 2023 MP Elite

Accounting Today

In its 12th edition, this annual report highlights 10 outstanding accounting firm leaders.

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Bankruptcy definition

Accounting Tools

Related Courses Bankruptcy Tax Guide Essentials of Corporate Bankruptcy What is Bankruptcy? Bankruptcy is the legal process of liquidating an insolvent debtor 's assets, distributing the proceeds to creditors , and relieving the debtor of any further liability. Bankruptcy is designed to give the debtor a fresh start unencumbered by old debts , as well as to fairly settle creditor claims through an equitable distribution to them of the debtor's remaining assets.

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The MP Elite: Tips for bolstering the talent pipeline

Accounting Today

The 2023 Managing Partner Elite discuss how to reverse the trend of fewer young people joining the profession.

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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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13 Key Cloud Cost Management Strategies (And How CloudZero Can Help)

CloudZero

Managing cloud computing costs is a big deal right now. For instance, 60% of organizations say their cloud costs are higher (over 70%) than they should be, according to our State of Cloud Cost Intelligence report.

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The red flags of tax ID theft

Accounting Today

The IRS offers advice on how practitioners can know when their client information is at risk.

Tax 190
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AWS Cost Allocation Tags: Implementation, Challenges, and Alternatives

finout

AWS Cost Allocation Tags: Implementation, Challenges, and Alternatives Introduction to AWS Cost Allocation Tags Are you tired of sifting through complex billing reports to pinpoint where your Amazon Web Services (AWS) costs are coming from? You're not alone! A significant third of cloud computing costs go to waste. With AWS commanding the majority of the cloud market share, managing your AWS spending through AWS cost allocation tags is more crucial than ever.

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Rand Paul holding up U.S.-Taiwan tax legislation

Accounting Today

The Kentucky senator plans to block legislation to reduce double taxation for those involved in U.S. and Taiwan cross-border investment.

Tax 130
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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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Tipalti Expands Global Alliances Program With Over 50 New Partners

Tipalti

Tipalti, today announced it has expanded its Alliances Program, adding more than 50 new partners, dramatically growing Tipalti’s global distribution and implementation reach.

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Is it really worth buying an accounting practice?

Accounting Today

Consider the pros and cons of starting your own firm instead of buying one.

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ChatGPT Accounting

Tipalti

Explore the potential of ChatGPT in revolutionizing your accounting practices. From invoice processing to data cleansing, use ChatGPT to optimize your accounting today.

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Tesla's new CFO: Two jobs and a lot of question marks

Accounting Today

Vaibhav Taneja, already has a hefty gig serving as the company's chief accounting officer.

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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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The Top Spendesk Alternatives In 2023

Tipalti

Looking for the best Spendesk alternative? See how Spendesk compares to Payhawk, Pleo and Tipalti. Find the best spend management software for your business.

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The MP Elite: Vision statements

Accounting Today

This year's class of exceptional firm leaders share their strategic plans and outline their outlooks for the years ahead.

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CloudZero Launches Advanced Analytics For Deeper Visibility And Savings Insights

CloudZero

Analytics lets CloudZero customers pair business fundamentals with automated business intelligence — powering unparalleled cloud-native efficiency.

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In the blogs: More disasters

Accounting Today

Jackpot tax bite; still a hard world; it's your time; and other highlights from our favorite tax bloggers.

Tax 100
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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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Warehouse Wednesday: What About Using Barcodes in the QBO SKU Field?

Insightful Accountant

This 'Warehouse Wednesday' rehashes an older one to accomplish four goals. We want (need) your input, just as you gave it to us in 2015.

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Maximum stock level definition

Accounting Tools

Related Courses Inventory Management What is Maximum Stock Level? The maximum stock level is a not-to-exceed amount used for inventory planning. This stock level is based on a calculation of the cost of storage, standard order quantities, and the risk of inventory becoming obsolete or spoiling with the passage of time. Another issue may be a strict limitation on storage space, as may be the case for refrigerated or frozen goods.

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QB Talks: List-makers Perspectives on Making the Top 100

Insightful Accountant

On Wednesday, Aug. 16, at 2 p.m.

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Closing balance definition

Accounting Tools

Related Courses Bookkeeping Guidebook Closing the Books The Year-End Close What is a Closing Balance? A closing balance is the total in an account at the end of a reporting period. If an account is a permanent account , this amount is carried forward to the beginning of the next reporting period. If an account is a temporary account , this amount is rolled into retained earnings at the end of the fiscal year , and the account balance is reset to zero.

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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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Survey Says: One in Four Workers May be on the Move

Insightful Accountant

A Robert Half report shows that nearly half of workers queried are currently looking to do something different.

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Manufacturing costs definition

Accounting Tools

Related Courses Cost Accounting Fundamentals What are Manufacturing Costs? Manufacturing costs are the costs incurred during the production of a product. These costs include the costs of direct material , direct labor , and manufacturing overhead. The costs are typically presented in the income statement as separate line items. An entity incurs these costs during the production process.

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Why ACH Matters for Medical and Dental Organizations

Fidesic blog

If your medical or dental practice is also a small business then this post is for you. We are going to discuss a few of the benefits of adopting ACH both as a vendor and to pay your own vendors.

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Biweekly payroll definition

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management What is a Biweekly Payroll? Biweekly payroll refers to a payroll under which employees are paid once every two weeks, which generally means that there are 80 regular hours of work incorporated into each payroll. The concept is used by payroll managers who want to reduce the total amount of effort expended processing payrolls over the course of a year.

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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.