Tue.Oct 03, 2023

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Republicans press IRS on ERC backlog and fraud

Accounting Today

GOP members of Congress are demanding answers from the Internal Revenue Service about the backlog in processing claims for the Employee Retention Credit, only weeks after the IRS imposed a moratorium.

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Our new AI-powered contact predictions have arrived

Xero

We recently announced at Xerocon Sydney that our team was busy enhancing the AI algorithms that power bank reconciliation in Xero, so it would recognise new contacts in your statement lines (even when they’re not in your contact list). We’re excited to share that this new feature is now live and available to all Xero customers globally. Here’s how it works and how to recognise it when it appears in your bank reconciliation.

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New FinCEN reporting rules approaching

Accounting Today

The 'beneficial ownership' disclosure requirements are a challenge for both small businesses and accountants.

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How beating the digital drag can help fuel your small business growth

Xero

From your local plumber and barber, to your favourite cafe, these small businesses sit at the heart of our communities. They are the ones driving jobs, economic growth and a place for people to come together. These smallest businesses — those employing up to nine people — make up 15% of the UK’s turnover, and provide over a quarter of jobs. But despite this, a “digital drag” is holding the smallest firms back from reaching their full potential.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Avoid These Common Budgeting Mistakes for Your Business

Accounting Department

Budgeting is crucial for any business that wants to succeed in the long term. As a business owner or CFO for a small to medium-sized business, you may have experienced the challenges of creating and implementing a budget.

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Plugging accounting skills gaps with retention and automation

Accounting Today

Firms need to develop new retention strategies, pairing automation with the changing role of the accountant.

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Cybersecurity spending rose 70% in four years

Accounting Today

A recent report from credit rating agency Moody's found organizations have increased their spending on cybersecurity by 70% over just four years.

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How Artificial Intelligence Will Impact the Accounting Industry?

Ace Cloud Hosting

Artificial intelligence, a technology that’s been more than just a buzzword in recent years, has laid its foot in the accounting industry. Think about it—every day, we use tools with.

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Small-business wage and job growth slowed in September

Accounting Today

Hourly earnings growth slipped at small businesses last month to the slowest pace since September 2021, according to Paychex.

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Passwordless Authentication: The Future of Securing Access for Accounting & Bookkeeping firms

The Successful Bookkeeper

In today's rapidly evolving digital landscape, ensuring the security of online accounts and the protection of sensitive data have become more critical than ever. This holds particularly true for accounting and bookkeeping firms in the United States, entrusted with the responsibility of safeguarding confidential client information. While traditional password-based authentication methods have been widely utilized, they are increasingly susceptible to various security threats.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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Ascend invests in Goering & Granatino

Accounting Today

The private equity-backed firm has expanded to the Midwest.

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We’re Going to the Schools & Academies Show 2023!

Compleatable

The news is out- Compleat Software will be exhibiting at the Schools & Academies Show 2023! This year’s show will be held on the 22nd November 2023 at the NEC, Birmingham, and will see more than 3,000 attendees from a range of backgrounds, including representatives from schools, academies, MATs, local authorities, central government, specialist charities and the wider education sector.

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Execs plan to bolster cybersecurity and push third parties to do same

Accounting Today

New cybersecurity rules from the SEC have prompted execs to push for stronger protections for their own companies and for third parties they deal with.

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We’re Going to the Schools & Academies Show 2023!

Compleatable

The news is out- Compleat Software will be exhibiting at the Schools & Academies Show 2023! This year’s show will be held on the 22nd November 2023 at the NEC, Birmingham, and will see more than 3,000 attendees from a range of backgrounds, including representatives from schools, academies, MATs, local authorities, central government, specialist charities and the wider education sector.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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In the blogs: Frightful stuff

Accounting Today

Your employees' well-being; statutory residency; new blog in town; and other highlights from our favorite tax bloggers.

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The Pros and Cons of a Family Business

Insightful Accountant

While there are a number of dynamics at play, it is how you handle these situations that go a long way in determining if a family business is right for you. Bryan Cytron and Scott Cytron of Cytron and Company explain.

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20 Essential Business Expenses: A Comprehensive Financial Management Checklist

Invoicera

Whether you have a startup idea or are already running a business and want to improve your finance management, this blog post will be an insightful read for you. Financial management is the most important aspect to grow and make your organization renowned. A report by CB Insights says that 38% of businesses fail because they run out of cash. Any startup that does not plan finances has a very low possibility of becoming successful.

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MISys Manufacturing Now Offers Microsoft Azure Deployment

Insightful Accountant

MISys is offering a new cloud-hosting option for MISys Manufacturing for deployment with Microsoft Azure.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

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20 Essential Business Expenses: A Comprehensive Financial Management Checklist

Invoicera

Whether you have a startup idea or are already running a business and want to improve your finance management, this blog post will be an insightful read for you. Financial management is the most important aspect to grow and make your organization renowned. A report by CB Insights says that 38% of businesses fail because they run out of cash. Any startup that does not plan finances has a very low possibility of becoming successful.

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Future Forward 2023 Rewind: AI for Accounting and Financial Professionals

Insightful Accountant

Our 'Future Forward 2023 Rewind' continues with a deep dive into the real-world power of AI and how it can help you.

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How to Extract Text from PDF?

Nanonets

Today, PDF documents have become a standard format for sharing and preserving information across all organizations. However, sometimes it may be required to extract the text from a PDF file for various reasons like editing, analyzing, or simply copying and pasting the content for the organization's record. There are multiple ways in which text can be extracted from PDF files.

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Market participants definition

Accounting Tools

Related Courses Fair Value Accounting What are Market Participants? Market participants are those buyers and sellers transacting business in the principal market for an asset or liability. These participants are not related parties, have a reasonable understanding of the asset or liability, are capable of entering into a transaction to buy or sell the item, and are motivated to do so.

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How to Modernize Manufacturing Without Losing Control

Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives

Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri

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Member Spotlight: The Key to Career Success

NACM

NACM's Professional Certification Program gives credit professionals a space to create connections while mastering the tools needed for success in the B2B credit world. With six levels of certification, credit professionals can earn credentials along with several benefits such as new career opportunities, leadership recognition and mastery in the p.

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Alphanumeric department/subsidiary codes

Accounting Tools

Related Courses Bookkeeping Guidebook New Controller Guidebook The Problem With Numeric Account Codes The typical account code structure uses a four or five digit numeric code that describes a primary account, followed by a hyphen, and then a two or three digit numeric code that describes a department. Historically, these codes have been stated in a numeric format.

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How Trump Defrauded Banks & Top Cities To Be An Accountant

Cloud Accounting Podcast

Blake and David cover a plethora of topics including positive customer experiences, legal rulings, top cities for accountants, and the pressure on Intuit from major banks. They also dig into the discovery of a large sum of cash at a senator's home, how Trump defrauded the banks, another potential government shutdown, and the accounting talent crisis.

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How to improve your chart of accounts

Accounting Tools

Related Courses Bookkeeping Guidebook New Controller Guidebook The Problem With a Large Chart of Accounts The typical chart of accounts is in desperate need of improvement, because it is too large. Having a large chart of accounts leads to issues with incorrect account usage, immaterial account balances, extensive accountant training, higher audit costs, and incorrect financial statements.

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Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

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NYC court gives Trump a venue to air grievances over trial

Accounting Today

Tuesday will start off with more testimony from his former accountant Donald Bender. The next witness is expected to be Camron Harris, an audit partner with Trump's new accounting firm Whitley Penn LLP.

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Three digit chart of accounts

Accounting Tools

Related Courses Bookkeeping Guidebook New Controller Guidebook A three digit chart of accounts allows a business to create a numerical sequence of accounts that can contain as many as 1,000 potential accounts. The three-digit format is most commonly used by small businesses that do not break out the results of any departments or divisions in their financial statements.

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Coverage period definition

Accounting Tools

Related Courses Business Insurance Fundamentals What is a Coverage Period? A coverage period is the period of time during which an insured event is protected by an insurance contract. Outside of the coverage period, a loss is not covered by such a contract. From a loss prevention perspective, it can make sense for an insured party to have a procedure in place to always verify when coverage periods expire, so that replacement contracts can be obtained with enough time to avoid a loss of coverage.

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Five digit chart of accounts

Accounting Tools

Related Courses Bookkeeping Guidebook New Controller Guidebook The number of digits used to describe each account in a chart of accounts drives the level of detail that can be recorded. A five digit chart of accounts is used by organizations that want to track information at the departmental level. With a five-digit code, they can produce separate income statements for each department.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.