Mon.Apr 10, 2023

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Why we’re making changes to Xero search

Xero

Over the next couple of weeks, we’ll be rolling out some changes to the search function in Xero. The functionality will stay the same, but you’ll notice it looks a little different. Like many of the changes we’ve rolled out across our platform lately, this is part of our commitment to ‘ Building on Beautiful ’ — which is about continuously making changes in Xero so we can stay ahead of the latest technologies, standards and ways of working in your business or practice.

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Intuit AI drives taxpayers through TurboTax “Express Lane” experience

Intuit

“Our vision is taxes done for everyone: any way, any time, any tax situation, any device.” Varun Krishna, Executive VP and GM Intuit Consumer Group This year’s tax season is a timely case in point. Intuit is experimenting with a new AI-driven express lane experience for filers of simple tax returns that’s enabling a select group of customers to complete their taxes in as little as 10 minutes with its TurboTax mobile app.

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Intuit Launching Rest-of-World App Store

Insightful Accountant

Intuit is launching a rest-of-world app store as part of the QuickBooks Ecosystem to help app developers build apps to meet the growing demands of SMBs and accountants globally.

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Top 5 technologies that are powering India’s economic growth

Intuit

For decades, technology has propelled the global economy. Nations are using technology in meaningful ways to develop sectors and create future cities. Now India is considered a knowledge powerhouse and has become the centre of global attraction. The exponential growth of technology has powered the nation’s economic growth too. While there’s a lot of innovation going on in India—and the rest of the world—some technologies are anticipated to be game-changers in 2023.

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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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Why Acknowledging Accomplishments Matter

Insightful Accountant

Employee recognition is an important element in ensuring employee satisfaction, especially in accounting firms, where juggling a lot of tedious financial tasks for clients can be daunting.

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Post dated check definition

Accounting Tools

Related Courses Corporate Cash Management Credit and Collection Guidebook Effective Collections How to Audit Cash What is a Post Dated Check? A post dated check is a check on which the issuer has stated a date later than the current date. It is used when the issuer wants to delay payment to the recipient, while the recipient may accept it simply because the check represents a firm date on which it will be able to deposit the check.

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Budgetary slack definition

Accounting Tools

Related Courses Budgeting Capital Budgeting What is Budgetary Slack? Budgetary slack is the deliberate under-estimation of budgeted revenue or over-estimation of budgeted expenses. This allows managers a much better chance of "making their numbers," which is particularly important for them if performance appraisals and bonuses are tied to the achievement of budgeted numbers.

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Unlocking the secrets of small business cash flow

Ontrack Bookkeeping

When it comes to running a small business, maintaining a healthy cash flow is essential for sustainability and growth. Your business can be incredibly profitable but still ultimately fail because of improper cash flow management. To prevent that from happening, here are some best practices that can help you better manage your cash flow and maintain the financial health of your small business.

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Sales return definition

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook What is a Sales Return? A sales return is merchandise sent back by a buyer to the seller. The return is usually because an excess quantity was either ordered or shipped, or due to defective goods. A return may also be triggered by goods having been shipped too late, or the wrong items were shipped, or because the product specifications were incorrect.

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Top 7 FinOps Strategies For Optimizing Cloud Costs

Economize

"Effective FinOps strategies are critical to optimizing cloud costs for businesses of all sizes. By utilizing cost management tools and services from AWS and GCP, organizations can reduce their cloud spend and increase their ROI.

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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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Accounting Fee Increase Letter: Sample Template & Tips

Jetpack Workflow

Are you dreading the moment you have to break the news about an increase in your service fees to your clients? It can be an uncomfortable conversation, even when you know the price increase is for their benefit. Especially for your longstanding clients, you don’t want to offend anyone or make them feel you take their loyalty for granted. When it’s time to increase your service fees, how you communicate with your clients can make all the difference between whether they feel resentful or understan

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How To Spot Cost Inefficiencies In Your Cloud

CloudZero

It’s almost impossible to create an optimized cloud system out of the gate and keep it running at a perfect balance over the long term. There’s almost always something that could benefit from some tweaks and adjustments.

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How to use Google Sheets as a database?

Nanonets

From business analysts to Management consultants, Excel and Google sheets have been used the most. This makes Google’s sheets user interface universally familiar and easy to store and manipulate data. Google spreadsheets are a good alternative for DBMS ( Data Base Management System) if you are looking for a simple, quick, cost-efficient solution for a small dataset.

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Responsibility accounting

Accounting Tools

What is Responsibility Accounting? Responsibility accounting involves the separate reporting of revenues and expenses for each responsibility center in a business. Doing so improves the management of operations. For example, the cost of rent can be assigned to the person who negotiates and signs the lease , while the cost of an employee’s salary is the responsibility of that person’s direct manager.

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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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How to convert PDF invoices to Excel in seconds?

Nanonets

Managing financial records is a crucial aspect of the job of an accountant or bookkeeper. However, most of the time goes into manually entering invoice data into Excel. And invoices come in all formats, word, excel, PDF, text, scanned images, or handwritten notes. This process is tiresome, error-prone, and time-consuming. Fortunately, PDF to-Excel converters streamline converting PDF invoices into Excel spreadsheets.

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How to calculate contribution per unit

Accounting Tools

Related Courses Cost Accounting Fundamentals Financial Analysis Contribution per unit is the residual profit left on the sale of one unit, after all variable expenses have been subtracted from the related revenue. This information is useful for determining the minimum possible price at which to sell a product. In essence, never go below a contribution per unit of zero; you would otherwise lose money with every sale.

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How To Convert PDF File To Excel Without Software?

Nanonets

PDFs contain much information but are not easy to edit. To use the PDF data, you need to convert it into an editable format like Word or Excel. Luckily, Nanonets’ PDF to Excel tool is here to help you do just that for free and without signing up. How to Convert PDF Files to Excel Without Software? Nanonets PDF to Excel converter is an online tool that allows you to convert your PDF files to Excel format without downloading or installing any software.

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Time sheet definition

Accounting Tools

Related Courses How to Audit Payroll Optimal Accounting for Payroll Payroll Management What is a Time Sheet? A time sheet is used to record the work time spent by an employee. The sheet is set up in a matrix format, with each column assigned to a separate day. This format allows a person to write in the hours and minutes spent on various activities during each day.

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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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What Is A Searchable PDF & How to create one?

Nanonets

In the fast-paced world, nobody has time to go through the entire document or pdf to look for specific information, spending their precious time. Therefore, there is a need for a searchable pdf in present times. You might be wondering what a searchable pdf is and why it is essential nowadays. So basically, a searchable pdf enables the users to look for the information by inserting specific keywords.

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Days working capital definition

Accounting Tools

Related Courses Business Ratios Guidebook Working Capital Management What is Days of Working Capital? Days working capital states the number of days required for a business to convert its working capital into cash. Thus, a higher days working capital figure means that a firm will require more days to realize cash from its working capital. A firm that requires fewer days to do so has a reduced need for financing, since it is making more efficient use of its working capital.

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Top 5 Ways to Boost Revenue Performance in 2023

Billing Platform

Like all companies, starting strong in the new year is in full swing. But with concerns about the economy putting pressure on growth, now is the time to solidify your plans to help influence your revenue performance. As we start off 2023, we’re reviewing a few revenue management tips to consider to help achieve your revenue goals. Making Revenue Management Part of your DNA The growth of subscription-based service offerings and sophisticated usage-based monetization models are offering digital bu

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Buildings account definition

Accounting Tools

Related Courses Fixed Asset Accounting How to Audit Fixed Assets What is the Buildings Account? Buildings is a fixed asset account that contains the carrying amount of the buildings owned by an entity. The carrying amount is the original purchase price, plus later capitalized additions, minus accumulated depreciation and any asset impairments. If a building is eventually sold, the sale price is netted against this account to determine whether a gain or loss occurred.

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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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What is Paperless Office?

Nanonets

Every single employee consumes about 10,000 sheets of paper every year! U.S offices use 12.1 trillion sheets of paper a year. The average American office worker uses an average of 10,000 sheets of office paper per year. That’s huge. It's time to break free from this outdated habit and embrace digital solutions. Apart from environmental factors, going paperless improves efficiency and reduces workload of employees.

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Bank service charge expense

Accounting Tools

What is Bank Service Charge Expense? Bank service charge expense is the name of an account in which is stored all fees charged to an organization's checking accounts by its bank. This separate account is more likely to be used when a business maintains a large number of checking accounts, and wants to analyze the costs of maintaining them. When there are fewer checking accounts or the fees are quite low, service charges are more likely to be recorded in a miscellaneous expenses account.

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Escheat definition

Accounting Tools

Related Courses Payables Management What is Escheat? Escheat is a government’s right to take ownership of unclaimed property. This right is exercised when assets have been unclaimed for a specified period of time or when a person dies without heirs. Specific escheat rules are set at the state level, where escheat rights may be granted for just certain types of assets, such as real estate, securities , and dormant bank deposits.

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Breeding herds definition

Accounting Tools

Related Courses Agricultural Accounting What are Breeding Herds? Breeding herds are both mature and immature animals that are maintained for their progeny. A cost is assigned to raised breeding livestock that is based on a base value from a reputable source. This value is assigned when an animal enters the breeding herd or flock; the value appears in the Breeding Livestock account, which is a non-current asset account.

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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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Budget definition

Accounting Tools

Related Courses Budgeting Capital Budgeting Effective Sales Forecasting What is a Budget? A budget is a set of interlinked plans that quantitatively describe an entity's projected future operations. A budget is used as a yardstick against which to measure actual operating results, for the allocation of funding, and as a plan for future operations. The budgeting process typically begins with a strategy planning session by senior management.

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Book inventory definition

Accounting Tools

Related Courses Accounting for Inventory How to Audit Inventory What is Book Inventory? Book inventory is the cost of inventory on hand, as stated in an organization's accounting records. This amount is compared to the actual inventory on hand to see if there are any discrepancies in the accounting records, which can indicate procedural or control problems that should be corrected.

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Book transfer definition

Accounting Tools

Related Courses Corporate Cash Management Payables Management Treasurer's Guidebook What is a Book Transfer? A book transfer is the transfer of the legal right of ownership of an asset , without physically shifting the asset to the new owner. The most common use of the concept is when a bank transfers funds from the account of the payer to the account of the payee when both accounts are with the same bank.

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Bill of materials definition

Accounting Tools

Related Courses Cost Accounting Fundamentals Operations Management What is a Bill of Materials? A bill of materials is the record of the raw materials , sub-assemblies and supplies used to construct a product. It contains a description, unit count, and scrap estimate for each line item. This document must be extremely accurate. If this is not the case, an organization may order incorrectly from suppliers and pull the wrong items from stock for a production run, which can result in major delays i

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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.