Sun.Apr 28, 2024

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Why we’re calling 2024 ‘the year of the US bank feed’

Xero

Bank feeds are a great way to import transactions from your financial institution directly into Xero, so you can easily complete the reconciliation process. But the US is a pretty challenging market when it comes to providing high-quality bank feeds. There are more than 4,000 financial institutions, each with their own capabilities and nuances. To address this and help you get transactions into Xero more easily, we’ve been focused on improving the coverage and quality of our bank feeds.

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QuickBooks Desktop and Outlook - 'Problems Again'

Insightful Accountant

Microsoft says that the solution to the problem of having been unable to send emails from QuickBooks after updating Outlook Desktop to Version 2402 has now been resolved.

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Xero to retire the Planday product in Australia; enters new Deputy Australia partnership

Xero

We know how important time, attendance and scheduling (TAS) needs are for any small business. And for Australian employers, we know it is even more important because Australia has some of the most complex payroll compliance requirements in the world. Following a careful review of our current TAS solution, we have made the difficult decision to retire our Planday product on 30 September 2024.

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Miraculous Accounts Payable (AP) Process Improvement Ideas in 2024

Invoicera

Introduction Many businesses find it struggling to manage their expenses and payments. Too many unpaid bills or Accounts Payable can weigh a company down and eat its profits. Studies show that almost 62% of a business’s profits can go towards paying off overdue bills that weren’t handled properly. And on average, 48% of businesses make 68% fewer profits because of issues with unattended accounts payable.

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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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Ep. 260: Nicolas Kopp - Streamlining Operations for Success

IMA's Count Me

If productivity puzzles have you stumped, tune in to an enlightening episode of the Count Me In Podcast with host Adam Larson and special guest, Nicolas Kopp , the entrepreneurial force behind Rillet. In this candid conversation, Nicolas unveils critical tips to streamline your workday, break free from the quagmire of meetings, and leverage cutting-edge tools to boost efficiency.

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Short-term investments definition

Accounting Tools

What are Short-Term Investments? Short-term investments are those that can be readily converted into cash. This classification includes any investment instruments that will mature within one year or which are expected to be liquidated within one year. Most investments that are actively traded can be considered short-term investments, since they can be easily liquidated.

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Short-term liability definition

Accounting Tools

What is a Short-Term Liability? A short-term liability is a financial obligation that is to be paid within one year. This type of liability is classified within the current liabilities section of an entity’s balance sheet. Examples of short-term liabilities are as follows: Trade accounts payable. Includes all billed liabilities owed to the suppliers of a business.

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Standard cost variance

Accounting Tools

What is a Standard Cost Variance? A standard cost variance is the difference between a standard cost and an actual cost. This variance is used to monitor the costs incurred by a business, with management taking action when a material negative variance is incurred. The standard from which the variance is calculated may be derived in several ways. For example: The standard cost of a component is based on the expected purchasing volume under a specific contract with a supplier.

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Sinking fund definition

Accounting Tools

What is a Sinking Fund? A sinking fund is a set-aside of cash that is to be used at a later date to retire bonds or other forms of debt or preferred stock. It may also be used to fund the replacement or purchase of an asset. The sinking fund concept may also be used by an individual, who saves up money to purchase a major asset, such as a car. Advantages of a Sinking Fund By setting up a sinking fund, the financial burden associated with a repayment or asset purchase is greatly reduced.

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Salary and fringes definition

Accounting Tools

What is Salary and Fringes? Salary and fringes is the total amount of compensation that will be paid to an employee. This amount includes not only base pay, bonuses and commissions , but also all fringe benefits, such as medical insurance, life insurance, and pension payments. When evaluating several job offers, a person should compile the entire amount of salary and fringes in order to derive a comparable amount of compensation being offered by each prospective employer.

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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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Sales commission definition

Accounting Tools

What is a Sales Commission? A sales commission is the amount of compensation paid to a person based on the amount of sales generated. This is typically a percentage of sales, which is paid on top of a base salary. A high proportion of sales commission to base pay is intended to draw the attention of the sales staff most forcefully to the need to generate sales.

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Sales returns and allowances definition

Accounting Tools

What is Sales Returns and Allowances? Sales returns and allowances is a deduction from sales that shows the sale price of goods returned by customers , as well as discounts taken by them to retain defective goods. When this amount is large in proportion to total sales , it indicates that a business is having trouble shipping high-quality goods to its customers.