Thu.Oct 05, 2023

article thumbnail

IRS makes progress on implementing Inflation Reduction Act

Accounting Today

The Internal Revenue Service has been working hard to implement the dozens of tax provisions contained in last year's Inflation Reduction Act, according to a new report.

Tax 311
article thumbnail

ADC Gets AMPLIFIED in Detroit at EO XCentric!

Accounting Department

Our second Entrepreneurs' Organization (EO) event of the year, EO XCentric, took place in Detroit this week and ADC's Shawn Marcum, fresh off of EO Alchemy, set out to rock Detroit and spend some time with all of the great event attendees.

219
219
professionals

Sign Up for our Newsletter

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

article thumbnail

IRS warns about art donation scams

Accounting Today

The service is cautioning taxpayers against claiming exaggerated deductions for purported donations of artwork, as it sees a rise in such schemes.

Tax 315
article thumbnail

A Comprehensive Guide to KPI Utilization and Automation

Cevinio

Driving Excellence in Accounts Payable: A Comprehensive Guide to KPI Utilization and Automation In the realm of corporate finance, maintaining a competitive edge is paramount. One area where this is particularly true is Accounts Payable (AP). The efficiency of AP operations can significantly impact an organization’s financial stability and overall prosperity.

AP 100
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

Not having a House Speaker is threatening tax and other key areas

Accounting Today

Among the items now stalled are a measure to extend federal banking protections to marijuana companies operating in states where the drug is legal and negotiations to restore tax breaks for business spending on research and development.

Tax 280
article thumbnail

BatchMaster for QuickBooks – Introduction

Insightful Accountant

Murph delivers the first part of a series on BatchMaster software for use with QuickBooks, which can bring your products to market faster and cheaper, while reducing overall costs and complying with your industry’s regulatory mandates.

More Trending

article thumbnail

How Catalyst Plus Successfully Recouped $10,000 for a Client with the Help of Dext

Dext

About Catalyst Plus Julie-Anne Ellem, better known as Jewlz, is a powerhouse in the Australian accounting industry. Starting her career at a young age in Sydney, she’s come a long way from her small-town roots.

article thumbnail

IRS tax-exempt unit faces its own backlogs

Accounting Today

The TE/GE Division didn't provide satisfactory answers to many of the questions it received from taxpayers, according to a new report.

Tax 183
article thumbnail

Bill Unveils Accountant Console for Accountant Partners

Insightful Accountant

The new financial operations platform for SMBs integrates category-leading solutions across accounts payable (AP), accounts receivable (AR), and spend and expense management.

AR 96
article thumbnail

AICPA awards $400K in minority doctoral scholarships

Accounting Today

The move comes as firms try to widen the pipeline of young people entering the accounting profession, especially from diverse backgrounds.

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

Improving the AP End of Month Close Process

MineralTree

The end of month close process plays a vital role in ensuring the accuracy, integrity, and transparency of financial records for businesses of all sizes. Making this monthly ritual effective and efficient can mean the difference between informed decision-making and costly errors. Read on to learn the benefits of streamlining and optimizing the accounts payable month-end close process, including information on best practices and the role of automation in achieving operational excellence.

AP 76
article thumbnail

Developing FedNow expertise enhances your value to business clients

Accounting Today

Learning to use the Federal Reserve's new payment system can be a competitive advantage for firms.

183
183
article thumbnail

Future Forward 2023 Rewind: Boost Advisory Revenue with Microsoft's Power Platform, Azure & OpenAI

Insightful Accountant

The 'Future Forward 2023 Rewind' is back with a look at the latest tools and related services to help transform your business. DataHead Solutions' Pete Audenas takes center stage.

52
article thumbnail

Small Business Invoice Factoring: What You Need to Know 

AvidXchange

Table of Contents: Small Business Financing Challenges | What is Small Business Invoice Factoring? | Is Invoice Factoring Right for Your Small Business? | How Does Invoice Factoring Work with AvidXchange’s Invoice Accelerator? Small business invoice factoring is a financing option that provides businesses with immediate access to cash. Many companies find it to be favorable compared to traditional business financing methods like bank loans and lines of credit.

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

Get Connected by QuickBooks earns International ProAdvisor Award Points

Insightful Accountant

Insightful Accountant has evaluated the upcoming 'Get Connected by QuickBooks' event in Sydney and issued International ProAdvisor Award Points for the sessions being offered.

article thumbnail

High-Impact Communication to Retain and Grow Your Client Base

Dext

The accounting landscape has seen some drastic changes in recent years, spurred by advancements in technology and a rapidly evolving business environment. While these changes have streamlined a host of tasks with accounting automation, they’ve also raised the bar for what clients expect in terms of communication.

article thumbnail

What is Credit Card Reconciliation?: The 2023 Guide

Outsourced Bookeeping

The process carried out by companies and individuals alike to reconcile both credit card statements with internal records, like your receipts, invoices, etc., is called credit card reconciliation. It is recommended to conduct this process every month to identify any problems if they do exist easily but people conduct them depending on their availability and the number of transactions carried out, sometimes weekly, quarterly or even annually.

article thumbnail

How to build your own Zendesk Answer Bot with LLMs

Nanonets

Introduction In today’s fast-paced world, customer service is a crucial aspect of any business. A Zendesk Answer Bot, powered by Large Language Models (LLMs) like GPT-4, can significantly enhance the efficiency and quality of customer support by automating responses. This blog post will guide you through building and deploying your own Zendesk Auto Responder using LLMs and implementing RAG-based workflows in GenAI to streamline the process.

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

Triple net lease definition

Accounting Tools

Related Courses Accounting for Leases What is a Triple Net Lease? A triple net lease is a leasing arrangement in which the tenant or lessee is responsible for paying all of the costs associated with a leased asset. For example, the tenant in a leased property is required to pay the rent , insurance , maintenance, and property taxes. When there are multiple lessees in a property, a tenant must also pay its share of the maintenance on common areas, usually based on a proportion of square footage l

Tax 40
article thumbnail

Partners Sessions to See - Summit NA 2023

Fidesic blog

Dynamics Communities Summit NA conference is just around the corner. We’re pretty pumped to connect with the community in person. Here are some of the great sessions in which our friends and partners will be speaking. Check them out.

26
article thumbnail

Triple bottom line definition

Accounting Tools

Related Courses Environmental Accounting Investor Relations Guidebook What is the Triple Bottom Line? The triple bottom line refers to the financial, social, and environmental results of a business. Each of these results focuses on a different activity – generating a financial return for investors , having a positive impact on people, and having a positive impact on the planet.

article thumbnail

Trump complains he can't hear accountant during fraud trial

Accounting Today

Trump spoke out in apparent irritation after his lawyer complained he couldn't hear the testimony of the state's first witness, former Mazars USA LLP accountant Donald Bender, who often lowered his voice and mumbled answers.

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

Revenue expenditure definition

Accounting Tools

Related Courses Accountants’ Guidebook Bookkeeping Guidebook Cost Accounting Fundamentals What is a Revenue Expenditure? A revenue expenditure is a cost that is charged to expense as soon as the cost is incurred. By doing so, a business is using the matching principle to link the expense incurred to revenues generated in the same reporting period. This yields the most accurate income statement results.

article thumbnail

The #1 City for Accountants and More Stories from The Accounting Podcast

Blake Oliver

Think you know the best cities for accountants? The number one spot may surprise you. Keeping up with the latest news in the profession can be challenging, but The Accounting Podcast makes it easy. In episode 352, my co-host David Leary and I break down need-to-know news, such as the top cities for accountants, how Donald Trump defrauded banks, tightened audit confirmation rules, the latest AI developments, and a surprising admission from a Deloitte CEO.

article thumbnail

Charitable remainder trust definition

Accounting Tools

Related Courses Auditing Nonprofit Entities Nonprofit Accounting What is a Charitable Remainder Trust? A charitable remainder trust makes payments to one or more beneficiaries (usually the donor) for a certain period of time, after which the remainder of the funds in the trust are donated to a charity. A portion of the amount in this trust is tax deductible for the donor; this is the main point of having such a trust.

article thumbnail

Investor relations officer job description

Accounting Tools

Related Courses Investor Relations Guidebook An investor relations officer (IRO) is responsible for creating and presenting a consistently applied investment message to the investment community. The IRO is also responsible for monitoring and presenting to management the opinions of the investment community regarding the company's performance. To fulfill these responsibilities, an IRO is involved with the formulation and release of information to outsiders, as well as with the handling of inquiri

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

Credit manager job description

Accounting Tools

Related Courses Credit and Collection Guidebook Essentials of Collection Law The Interpretation of Financial Statements A credit manager is responsible for the entire credit granting process. This includes the consistent application of a credit policy , periodic credit reviews of existing customers , and assessing the creditworthiness of potential customers.

article thumbnail

Investment banker job description

Accounting Tools

Related Courses Corporate Finance An investment banker assists clients with either fund raising or merger and acquisition activity. In the latter case, the level of specialization may extend to just offering advice on certain types of tax-specific transactions, or in regard to corporate spin-offs or reorganizations. In addition, an investment banking firm may have a number of levels through which a person is expected to advance, such as analyst, associate, vice president, and managing director.

article thumbnail

Internal auditor job description

Accounting Tools

Related Courses Internal Auditing Guidebook An internal auditor is responsible for reviewing a company’s processes, identifying anomalies, and reporting any issues found to management. The outcome of this work should be a series of process improvements and adjustments to control systems, so that a business operates more efficiently and effectively , while mitigating risk.

article thumbnail

Agricultural cooperative definition

Accounting Tools

Related Courses Accounting for Vineyards and Wineries Agricultural Accounting What is an Agricultural Cooperative? An agricultural cooperative is a business association into which farmers pool their resources. By doing so, farmers can increase their revenues , reduce costs or share risks , depending on the type of cooperative. There are two types of farmers that interact with a cooperative.

Tax 40
article thumbnail

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.