Wed.Jan 24, 2024

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Tax extenders bill throws new uncertainty into tax season

Accounting Today

The House Ways and Means Committee reported the text of the Tax Relief for Workers and Families Act after voting last week to advance the bipartisan bill.

Billing 333
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Staying on top of GST due dates in 2024

Xero

It can be tricky to keep tabs on the taxes and deductions you owe throughout the year as a small business. However, paying on time means getting peace of mind that you’re meeting your GST payment obligations as a business, and avoiding late penalties that cut into your earnings. If your business is registered for GST, you’ll have a number of deadlines to meet during the new year to file and pay GST.

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State sales tax changes could mean more audits

Accounting Today

Businesses are likely to see more sales tax audits in 2024 as a result of changes happening across the states, according to a new report.

Auditing 287
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Inventory Management Strategies To Maximize Efficiency

Accounting Department

From a manufacturing perspective, inventory is everything for business owners that can significantly impact their financial well-being. That is why effective inventory management is of utmost importance for manufacturers or other businesses that keep things on the shelves.

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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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SEC to impose tougher rules on blank-check deals

Accounting Today

The agency is adding new financial reporting and accounting requirements for SPAC deals.

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Can Finance and Engineering Teams See Eye-to-Eye on FinOps?

FinOps Foundation

Key Insight: Assuring Finance leaders that cloud providers are committed to optimizing (and reducing) the cost of cloud services can help give executives confidence to approve cloud migration and usage. A memorable moment for Jennifer, who is Head of Engineering Excellence, was a conversation with Fidelity’s head of Finance, who explained that she has a personal fiduciary responsibility to ensure the company is spending wisely.

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More Trending

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How IT Executives Establish a Culture of Accountability from the Top Down

FinOps Foundation

Key Insight: Hosting weekly meetings for engineers to share tips and tricks can help establish a collaborative, cost-conscious culture. Aside from a top-down focus and investment into FinOps, Athene also finds value in hosting a weekly ‘cloud demo’ where engineers share tips and tricks for building applications and addressing FinOps. It helps to establish a cost-conscious culture and a sense of community, while upleveling Athene’s engineers, who have experienced rapid change as Athene went from

FinOps 130
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Beyond client emails: The rise of resource hubs

Accounting Today

A client resource hub is a dedicated section of your website that serves as an easy-to-skim central repository of information for your clients.

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Can FinOps Best Practices Ease Multi-cloud Data Analysis?

FinOps Foundation

Key Insight: Granular data helps Wallace give the right level of visibility to each stakeholder and keep everyone aligned to business goals. Wallace’s biggest challenge is dealing with a lot of different types of data: cost data, asset data, observability data, etc., all of which come from different clouds and different teams using different tools. In order to know if FinOps is “working,” SAP reviews spending and optimization progress on a weekly basis– a process sponsored and supported by leade

FinOps 130
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Fed study says telework has little impact on productivity

Accounting Today

Recent research from the Federal Reserve Bank of San Francisco says that working from home has little relationship with productivity, either positive or negative.

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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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Can FinOps Best Practices Ease Multi-cloud Data Analysis?

FinOps Foundation

Key Insight: Granular data helps Wallace give the right level of visibility to each stakeholder and keep everyone aligned to business goals. Wallace’s biggest challenge is dealing with a lot of different types of data: cost data, asset data, observability data, etc., all of which come from different clouds and different teams using different tools. In order to know if FinOps is “working,” SAP reviews spending and optimization progress on a weekly basis– a process sponsored and supported by leade

FinOps 130
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Federal tax relief for Connecticut storm victims

Accounting Today

The IRS is pushing back payment and filing deadlines for those hit by January weather.

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Key 2024 Changes to the Definition of Cloud FinOps

FinOps Foundation

Key Insight: The definition of Cloud FinOps is evolving to reflect the practices of more than 16,000 community members who are managing public and private cloud together, incorporating other consumption-based PaaS and SaaS solutions, deepening interactions with sustainability and other IT disciplines, and sharpening focus on the overall business value of cloud.

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Shohei Ohtani's deferred $680M drives home tax and planning lessons for financial advisors

Accounting Today

The superstar player's decision to push back his record-breaking pay intrigued planners who pointed out a bevy of wealth-related questions.

Tax 126
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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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Can Finance and Engineering See Eye-to-Eye?

FinOps Foundation

Key Insight: Assuring executive s that cloud providers are committed to optimizing (and reducing) the cost of cloud services can help give Finance teams confidence to approve cloud migration and usage. A memorable moment for Jennifer, who is Head of Engineering Excellence, was a conversation with Fidelity’s head of Finance, who explained that she has a personal fiduciary responsibility to ensure the company is spending wisely.

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Six Things Accountants Wish Their Small Business Clients Knew

Insightful Accountant

Surrounded by a passionate group of QuickBooks Accountants, Bookkeepers and ProAdvisors, Dave Talach asked the question, "What's one thing you wish your small business clients knew?" Here are some of his favorite answers.

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How Do You Establish a Culture of Accountability?

FinOps Foundation

Key Insight: Hosting weekly meetings for engineers to share tips and tricks can help establish a collaborative, cost-conscious culture. Aside from a top-down focus and investment into FinOps, Athene also finds value in hosting a weekly ‘cloud demo’ where engineers share tips and tricks for building applications and addressing FinOps. It helps to establish a cost-conscious culture and a sense of community, while upleveling Athene’s engineers, who have experienced rapid change as Athene went from

FinOps 130
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The Importance of Reporting Cash Tips for Employees and Employers

CSI Accounting & Payroll

Nobody wants to pay more in taxes than they absolutely have to! We’ve all had lunch with a friend who specifically leaves a cash tip so the server doesn’t have to document it. They can pocket it without paying income or FICA taxes, and their employer also doesn’t have to pay the FICA taxes. While this seems like a nice gesture, is it worth the risk to the worker and the small business?

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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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Wallace Reviews Data Weekly to See if FinOps is Working

FinOps Foundation

Key Insight: Granular data helps Wallace give the right level of visibility to each stakeholder and keep everyone aligned to business goals. Wallace’s biggest challenge is dealing with a lot of different types of data: cost data, asset data, observability data, etc., all of which come from different clouds and different teams using different tools. In order to know if FinOps is “working,” SAP reviews spending and optimization progress on a weekly basis– a process sponsored and supported by leade

FinOps 130
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The Only 4 Things Your Clients Care About

Future Firm

Clients care about 4 things, and it's important to know them. By doing so, you'll have more success in price increases and much more. The post The Only 4 Things Your Clients Care About appeared first on Future Firm.

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Key 2024 Changes to the Definition of Cloud FinOps

FinOps Foundation

Key Insight: The FinOps Foundation’s Technical Advisory Council has approved an updated definition of FinOps. Over the next few months, other changes to the FinOps Framework will follow. On February 26, 2019, the FinOps Foundation was publicly launched on a webinar hosted by a committed group of enthusiasts managing cloud cost and usage, and viewed by dozens of people around the world.

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3 Features That Would Help Simplify Your Bill Payment and Creation Process

Spenmo

Managing bills and invoices is an integral part of any business, but the traditional manual processes can be time-consuming and prone to errors. According to a report by the Institute of Finance and Management , manual invoice processing can take up to 45 days. Automation can reduce this to five (5) days–a whopping 89% decrease in processing time. In today's fast-paced business environment, efficiency and accuracy are paramount.

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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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Can Finance and Engineering See Eye-to-Eye?

FinOps Foundation

Key Insight: Assuring executive s that cloud providers are committed to optimizing (and reducing) the cost of cloud services can help give Finance teams confidence to approve cloud migration and usage. A memorable moment for Jennifer, who is Head of Engineering Excellence, was a conversation with Fidelity’s head of Finance, who explained that she has a personal fiduciary responsibility to ensure the company is spending wisely.

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Balancing the Books: A Bookkeeping Firm’s Guide to Franchise Financials

Bookkeeping Express

Dive into the world of franchise businesses, where established brands and support systems entice entrepreneurs. Success in franchising hinges on effective financial management. In this guide to franchise financials, we’ll navigate the landscape of franchise accounting, shedding light on crucial elements like royalty fees, advertising funds, and franchisee support.

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How Do You Establish a Culture of Accountability?

FinOps Foundation

Key Insight: Hosting weekly meetings for engineers to share tips and tricks can help establish a collaborative, cost-conscious culture. Aside from a top-down focus and investment into FinOps, Athene also finds value in hosting a weekly ‘cloud demo’ where engineers share tips and tricks for building applications and addressing FinOps. It helps to establish a cost-conscious culture and a sense of community, while upleveling Athene’s engineers, who have experienced rapid change as Athene went from

FinOps 130
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AI Practice Management Takeover

Insightful Accountant

Automating tasks like inbox management, client leads, and data collection can save time during tax season. AI tools like ChatGPT offer cost-effective solutions for practice management.

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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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Wallace Reviews Data Weekly to See if FinOps is Working

FinOps Foundation

Key Insight: Granular data helps Wallace give the right level of visibility to each stakeholder and keep everyone aligned to business goals. Wallace’s biggest challenge is dealing with a lot of different types of data: cost data, asset data, observability data, etc., all of which come from different clouds and different teams using different tools. In order to know if FinOps is “working,” SAP reviews spending and optimization progress on a weekly basis– a process sponsored and supported by leade

FinOps 130
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Balancing the Books: A Bookkeeping Firm’s Guide to Franchise Financials

Bookkeeping Express

Dive into the world of franchise businesses, where established brands and support systems entice entrepreneurs. Success in franchising hinges on effective financial management. In this guide to franchise financials, we’ll navigate the landscape of franchise accounting, shedding light on crucial elements like royalty fees, advertising funds, and franchisee support.

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Redefining FinOps and Building a Stronger Framework

FinOps Foundation

On February 26, 2019, the FinOps Foundation was publicly launched on a webinar hosted by a committed group of enthusiasts managing cloud cost and usage, and viewed by dozens of people around the world. The first edition of Cloud FinOps was published later that year. The guidelines and best practices in that book described the dramatic changes required in organizations adopting cloud.

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Essential FinOps Strategies for Optimizing Cloud Costs in 2024

finout

Explore FinOps strategies for 2024: cloud cost optimization, resource efficiency, strategic pricing, and how Finout enhances these processes.

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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.