Ascend Software blog

MAY 4, 2023

As a critical function of any business, Accounts Payable (AP) is responsible for managing the company's financial obligations to its vendors, suppliers, and creditors. Whether you are a seasoned accounting professional or a new entrant into the field, understanding the terminology associated with AP is essential. We have compiled a comprehensive glossary of Accounts Payable terms to help you navigate this critical area of business finance.

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Accounts Payable Accounts Payable Accounting Accounting 238

Xero

MAY 4, 2023

Today, I want to take a moment to recognise a truly remarkable member of the Xero team, Catherine Walker, aka “^OG” or “Orange Girl.” Catherine was part of the founding Xero crew, and after nearly 17 years, is our longest-serving employee and has seen Xero grow from its humble beginnings on her dining table in her Wellington apartment, to the global company it is today.

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XERO Customer Service 209

Accounting Department

MAY 4, 2023

The financial close process involves reconciling all of the company's activity over a set period of time. This process can be completed on a monthly basis, quarterly basis, yearly basis, or any other predetermined period.

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Reconciling Accounts Receivable Accounts Receivable Account Receivables 163

Intuit

MAY 4, 2023

There are many different motivators to start a business. Being your own boss, creating a product that changes lives, and making money would come to an entrepreneur’s mind. Among those, where does giving back to your community rank? Throughout our 40-year history, we’ve made giving back a priority. Known internally as We Care and Give Back (WCGB), our commitment to the communities we serve has always been deeply rooted in our culture and is visible in the various ways our employees give their tim

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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.

Accounting

Insightful Accountant

MAY 4, 2023

The companies have teamed up to bring real-time expense management and simplified bookkeeping to small- and medium-size businesses.

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QuickBooks Bookkeeping 93

Accounting Tools

MAY 4, 2023

Related Courses Accounting for Intangible Assets Fixed Asset Accounting How to Audit Fixed Assets An intangible asset is a non-physical asset having a useful life greater than one year. These assets are generally recognized as part of an acquisition , where the acquirer is allowed to assign some portion of the purchase price to acquired intangible assets.

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Computation Auditing Accounting Accounting 75

Ontrack Bookkeeping

MAY 4, 2023

Provisional tax is an important aspect of managing a business’s finances and tax obligations. It allows businesses to make progress payments on their upcoming income tax, based on their expected profits for the following year. This can help businesses manage their cash flow and avoid the pressure of paying a lump sum at the end of the year. For new businesses, the first-year provisional tax payment can be challenging.

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Tax 52

CSI Accounting & Payroll

MAY 4, 2023

Corralling the little ones every day at your childcare center can be exhausting. At the end of a busy day, are you left with more accounting work than you can handle? Having an accountant on your side is priceless. Not only do you minimize your taxes and gain financial peace of mind through expert advice, but you also gain more time to enjoy your life outside of work.

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Accounting Accounting Payroll Tax 52

Nanonets

MAY 4, 2023

Processing invoices accurately and efficiently is crucial to any organization's financial health. But invoices aren’t always perfect; due to issues in invoices, it causes delays in invoice processing and releasing payments. One such issue is the presence of irrelevant pages within invoice documents. Approximately 10-20% of invoices may contain irrelevant pages, such as blank pages at the end, or other unrelated documentation like company information.

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Invoicing Invoice Processing Data Entry Accounting Software 52

Insightful Accountant

MAY 4, 2023

A new American Express survey finds that 50% of small businesses believe cash flow management tool consolidation positively impacts profitability. AMEX Business Blueprint and Banking's Brett Sussman explains.

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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.

The FinOps Alliance

MAY 4, 2023

With an omnipresent need to manage and control cloud spending, leveraging commitment strategies to get the right price for your workloads is key. In this upcoming livestream, Benjamin van der Maas, Michel Zitman and Mudit Gupta discuss their experience in the field with this ? Watch the video to: ✅ Learn from our experience in the field with commitment strategies; ✅ Learn from past mistakes we have made so you don’t have to; ✅ Get started with commitment strategies we commonly see; ✅ Get t

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FinOps FinOps 52

Insightful Accountant

MAY 4, 2023

Learn everything you need to know—and more—about QuickBooks Online Integrations. Join QBExpress' Kim Fedore and MoneyPenny's Penny Breslin for this 'can't miss' Future Forward webinar. Sign up today.

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QuickBooks 52

The FinOps Alliance

MAY 4, 2023

When it comes to AWS, there are different types of commitments that can help you make the most out of your cloud budgets. Two of the most popular ones are Reserved Instances and Savings Plans. A Reserved Instance is like a coupon that you purchase and consume at a lower price, while a savings plan requires you to commit to a certain hourly spend for a year or three years.

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Computation FinOps FinOps Budgeting 52

Insightful Accountant

MAY 4, 2023

Tax Practice News' Christine Gervais will show you the finer points of adding—and succeeding with—tax planning, strategy and consulting services. Sign up for the Day 1 'Future Forward Virtual Event' webinar today.

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Tax 52

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Accounting

Future Firm

MAY 4, 2023

Are you considering Jetpack Workflow to help your firm minimize administrative workload and standardize processes? If you’re still sitting on the fence about whether this accounting software is the right fit for your firm, this review might just be the deciding factor you’ve been looking for. Check it out! Table of Contents What is Jetpack Workflow?

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Billing Financial Statements Tax Invoicing 52

Jetpack Workflow

MAY 4, 2023

Podcast Summary About James Scott What do they do? The First Home Office The Economics Resources JD Scott & Co. LinkedIn – [link] James Scott LinkedIn – [link] James’s Email Address – james@jdscott.co About James Scott James has experience in all things accounting. He has 20 professional years of experience working within firms including serving as a director of Ernst & Young in Sydney, Australia.

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Payroll Financial Reporting Tax Bookkeeping 52

Insightful Accountant

MAY 4, 2023

On a sad note, Matt Rissell, the founder of TSheets has reportedly died from a self-inflicted gunshot wound at his home in Eagle, Idaho.

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Accounting Fun

MAY 4, 2023

"Take the Money and Run" by Steve Miller Band - Perfect for those clients who may be tempted to take their profits and run, but you're determined to keep them on track with sound financial advice. "Material Girl" by Madonna - A fun twist on being a "Depreciation Diva" who knows the value of tangible assets and depreciation schedules. "Don't Stop Believin'" by Journey - Encouraging clients to keep the faith in their financial goals and trust in your accounting expertise.

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Accounting Accounting Reconciling Financial Statements 44

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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.

AP

Accounting Tools

MAY 4, 2023

Related Courses Cost Accounting Fundamentals What is Explicit Cost? Explicit costs are those costs recorded in the accounting records of a business. As such, they have a distinct paper trail that is easy to identify and record. The profitability of a business is determined after all explicit costs have been subtracted from revenues. Explicit costs are included in the formulation of a firm’s annual budget , on the assumption that they will be incurred again in the future.

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Cost Accounting Budgeting Accounting Accounting 40

finout

MAY 4, 2023

Table of Contents

FinOps 52

FinOps FinOps 52

Accounting Tools

MAY 4, 2023

Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud What is Creative Accounting? Creative accounting involves the use of unorthodox techniques to adjust the reported profit level or financial position of a business. Managers may engage in creative accounting to increase their bonuses, convince a lender to give the firm a loan , or increase its valuation in the event of a sale.

Accounting 40

Accounting Accounting Accruals Auditing 40

MineralTree

MAY 4, 2023

How to Respond to Vendor Inquiries with AP Automation & Payment Services Not having enough time is the bane of every AP team. Too many are still burdened by the labor- and time-intensive tasks of manual invoice and payment processing, and are paying a heavy price for it. This creates a never-ending cycle of inputting and coding data, tracking down people for approvals and authorizations, and preparing checks – not to mention stuffing, sealing, and mailing payments.

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AP Invoicing Invoice Processing Reconciling 82

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.

Accounting Tools

MAY 4, 2023

Related Courses Behavioral Ethics Ethical Frameworks in Accounting Unethical Behavior What is Ethical Absolutism? Ethical absolutism is the concept that ethical rules are the same everywhere. As an example of ethical absolutism, consider that the United Nations unanimously passed the Universal Declaration of Human Rights, from which some of those rights are: Everyone has the right to life, liberty, and security of person.

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Accounting Accounting 40

Accounting Tools

MAY 4, 2023

Related Courses Contract Management Revenue Management Revenue Recognition What is a Cost Plus Contract? A cost plus contract is an arrangement under which a contractor is reimbursed for all costs incurred on a project, plus a profit that is typically calculated as a percentage of the costs incurred. This arrangement is most commonly used for one-time projects or research projects where it is difficult to determine what the total cost will be.

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Billing Auditing 40

Accounting Tools

MAY 4, 2023

Related Courses Business Combinations and Consolidations CPA Firm Mergers and Acquisitions Divestitures and Spin-Offs Mergers and Acquisitions What is a Conglomerate Merger? A conglomerate merger is the combination of two or more entities that operate in completely different markets. Alternatively, they may operate in completely different geographic regions.

CPA 40

CPA 40

Accounting Tools

MAY 4, 2023

Related Courses C Corporation Tax Guide Types of Business Entities What is a Controlled Company? A controlled company is a business in which another entity owns a majority of the voting stock. More specifically, the owner must have at least 50% of the voting power for the election of directors. When a business is classified as a controlled company, it does not have to follow the public company rule requiring it to have a majority of independent directors, or to have independent nomination and co

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Corporation Tax Tax 40

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!

Accounting

Accounting Tools

MAY 4, 2023

Related Courses Activity-Based Management Cost Accounting Fundamentals What is the Sell or Process Further Decision? The sell or process further decision is the choice of selling a product now or processing it further to earn additional revenue. This choice is based on an incremental analysis of whether the additional revenues to be gained will exceed the additional costs to be incurred as part of the additional processing work.

Cost Accounting 40

Cost Accounting Accounting Accounting 40

Accounting Tools

MAY 4, 2023

Related Courses Accountants' Guidebook New Controller Guidebook What is a Senior Accountant? A senior accountant is an experienced and well-trained person who works on financial accounting and management accounting tasks. This person typically has a four-year accounting degree, and may possess a CPA or CMA certification. The senior accountant position can be targeted at a specific functional area.

Accounting 40

Accounting Accounting Account Reconciliation Payroll 40

Accounting Tools

MAY 4, 2023

Related Courses Inventory Management Operations Management What is a Stock Keeping Unit? A stock keeping unit (SKU) is a specific type of product, with attributes that distinguish it from other SKUs. These attributes may include different sizing, materials, color, and packaging. SKUs are typically used in warehouses, retail stores, and product fulfillment centers.

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Accounting Tools

MAY 4, 2023

Related Courses Activity-Based Costing Activity-Based Management What is an Activity Driver? An activity driver is something that influences the cost of an operation. There may be several activity drivers that contribute to the incurrence of an expense. Activity drivers are used to allocate the costs in secondary cost pools to primary cost pools , as well as to allocate the costs in primary cost pools to cost objects.

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Invoice Processing Invoicing Cost Accounting Collections 40

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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.