Fri.Apr 21, 2023

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Directions NA 2023 Recap

Fidesic blog

Directions North America is a conference for Microsoft Partners by Microsoft Partners. In preperation of this major event in the Dynamics Community, Fidesic hosted a series of Live Streams on LinkedIn. Let's recap.

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Canopy Adds ChatGPT into the Mix

Insightful Accountant

The new function will be released in a beta mode with select customers on April 26 with the expectation of rolling it out to Canopy’s full customer base in May.

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Why SaaS Companies Need Debt Collection Services

Enterprise Recovery

A typical services contract requires a retainer or ongoing payments. Businesses selling software-as-a-service (SaaS), or anything else "as-a-service," rely on monthly or annual fees from subscribers. If those subscribers fail to meet their obligations, their accounts can be sent to collections for recourse. Non-payer churn is one of many reasons that Saas companies need debt collection services.

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Cash basis vs. accrual basis

Accounting Tools

Related Courses Bookkeeper Education Bundle Bookkeeping Guidebook The Difference Between the Cash Basis and Accrual Basis of Accounting The cash basis and accrual basis of accounting are two different methods used to record accounting transactions. The core underlying difference between the two methods is in the timing of transaction recordation. When aggregated over time, the results of the two methods are approximately the same.

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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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Here’s What Business Process Automation Is and Is Not

NextProcess

It’s impossible to ignore the role of automation in today’s world. Along with the rise of automation comes understandable concerns. For example, many wonder if automated programs can do people’s jobs, will that take away employment opportunities from real people? On the other hand, there’s also curiosity about how big of a help automation can be. For example, you might ask, if I implement business process automation (BPA) software, will it fix all the problems in my Procure-to-Pay cycle?

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Interim dividend definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is an Interim Dividend? An interim dividend is a distribution to shareholders that has been both declared and paid before a company has determined its full-year earnings. Such dividends are frequently distributed to the holders of a company's common stock on either a quarterly or semi-annual basis.

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Depreciation tax shield definition

Accounting Tools

Related Courses Small Business Tax Guide What is a Depreciation Tax Shield? A depreciation tax shield is a tax reduction technique under which depreciation expense is subtracted from taxable income. The amount by which depreciation shields the taxpayer from income taxes is the applicable tax rate, multiplied by the amount of depreciation. When the Depreciation Tax Shield is Most Effective The use of a depreciation tax shield is most applicable in asset-intensive industries, where there are large

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Tracking & Optimizing OpenAI Costs: Microsoft Azure, Open AI API

Economize

OpenAI's API offers a powerful tool for businesses to leverage the potential of AI. However, without proper monitoring and optimization, costs can accumulate rapidly. By utilizing third-party tools and following cost optimization recommendations, businesses can effectively manage their OpenAI API costs and achieve their objectives without breaking the bank.

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Cash basis income statement definition

Accounting Tools

Related Courses The Income Statement What is a Cash Basis Income Statement? A cash basis income statement is an income statement that only contains revenues for which cash has been received from customers, and expenses for which cash expenditures have been made. Thus, it is formulated under the guidelines of cash basis accounting (which is not compliant with GAAP or IFRS ).

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The Simple Guide To The History Of The Cloud

CloudZero

The first person to coin the term “Artificial Intelligence” predicted that someday people would buy software as a utility. The year was 1961 and that person was Professor John McCarthy, a computer scientist at Stanford University.

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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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Criteria for a capital lease

Accounting Tools

Related Courses Accounting for Leases What are the Criteria for a Capital Lease? A capital lease is a lease in which the lessor only finances the leased asset, and all other rights of ownership transfer to the lessee. This results in the recordation of the asset as the lessee's property in its general ledger , as a fixed asset. The lessee can only record the interest portion of a capital lease payment as expense, as opposed to the amount of the entire lease payment in the case of the more common

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Accounting Technicians vs Accountants

Billah and Associates

Accounting Technicians vs Accountants – Know the Difference Indeed, these two occupations can often be difficult to discern between because of the large number of names for the many job titles and duties, especially if you are not a financial expert. Both accounting technicians and accountants offer crucial services to both individuals and companies.

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Why Inventory Counts Matter

SMB Accounting and Consulting

The past few years have forced many small businesses to face issues with the supply chain that they had previously never considered. Even the most prudent risk manager couldn’t have anticipated the far-reaching impact that the pandemic had on nearly every aspect of life. These new challenges have changed purchasing habits for many small businesses and as things start to return to normal, practices, such as inventory may need to be reevaluated.

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Percentages can be confusing

Accounting Fun

When I started training as an accountant, one of the first clients I visited was a bookseller. I remember being unable to understand how the clerk had computed his percentages when sales were falling. These included such impossible results as minus 134% and minus 179%. I explained how to compute the percentage movement in sales from one period to another.

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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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Net credit sales definition

Accounting Tools

Related Courses Business Ratios Guidebook The Income Statement The Interpretation of Financial Statements What are Net Credit Sales? Net credit sales are those revenues generated by an entity that it allows to customers on credit , less all sales returns and sales allowances. Net credit sales do not include any sales for which payment is made immediately in cash.

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Top Challenges Facing Credit Professionals Today

NACM

⬆ Increasing past dues have been the number one challenge for credit professionals in the last year, according to a recent eNews poll.? Hear from Craig Pluff and Brad Hamman, CBA in today's episode of Extra Credit as they talk about how to tackle the challenges they face.

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Penetration strategy definition

Accounting Tools

Related Courses Business Strategy Key Performance Indicators What is Penetration Strategy? Penetration strategy is the concept of taking aggressive action to greatly expand one's share of total sales in a market. The resulting increased sales volume typically allows a business to produce goods or obtain merchandise at lower cost, thereby allowing it to generate a higher profit percentage.

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Present value of an ordinary annuity table

Accounting Tools

Related Courses Financial Analysis What is a Present Value of an Ordinary Annuity Table? An annuity is a series of payments that occur at the same intervals and in the same amounts. An example of an annuity is a series of payments from the buyer of an asset to the seller, where the buyer promises to make a series of regular payments. For example, ABC Imports buys a warehouse from Delaney Real Estate for $500,000 and promises to pay for the warehouse with five payments of $100,000, to be paid at

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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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Bond refunding definition

Accounting Tools

Related Courses Corporate Cash Management Corporate Finance Treasurer's Guidebook What is Bond Refunding? Bond refunding is the concept of paying off higher-cost bonds with debt that has a lower net cost to the issuer of the bonds. This action is usually taken to reduce the financing costs of a business. When to Use Bond Refunding Bond refunding is particularly common when the bond issuer has experienced a credit rating increase, and so can expect to obtain debt at a lower cost than had been the

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Plowback ratio

Accounting Tools

Related Courses Business Ratios Guidebook The Interpretation of Financial Statements What is the Plowback Ratio? The plowback ratio measures the amount of earnings that have been retained after investor dividends have been paid out. It is used by investors to evaluate the ability of a business to pay dividends. If the plowback ratio is high, this has different implications, depending on the circumstances.