Thu.May 23, 2024

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IRS tax audits may show unintended racial, ethnic bias

Accounting Today

The Internal Revenue Service doesn't collect data on taxpayers' race or ethnicity, but some of its methods could lead to disparities in its audit rate.

Auditing 317
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AccountingDepartment.com Earns a Spot on the Woodard 2024 Top 50 Accounting Services Practice List

Accounting Department

We are thrilled to announce that AccountingDepartment.com has been awarded a spot on the Woodard 2024 Top 50 Accounting Services Practice list. Earning this distinction is a testament to AccountingDepartment.com's commitment to excellence for its clients.

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Two-thirds of businesses say audits hinder growth

Accounting Today

Traditional audits may hinder business growth potential as accounting firms are slow to embrace modern approaches, according to an Inflo report.

Auditing 312
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Tips from our own London local to help you make the most of Xerocon

Xero

Xerocon London 2024 is nearly here! World class speakers, innovative new tools and workflows, and a chance to connect with community peers, thought leaders and industry experts. From embracing uncertainty and the new frontiers of technology, to mastering app stacks, this year’s Xerocon is set to bring more inspiration and innovation than ever before.

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How to Easily Navigate Crypto Accounting in the Web3 Era

Speaker: Aaron Jacob, VP of Accounting Solutions & Reagan Cook, GTM Lead

Are you struggling to navigate the complexities and challenges that come with crypto accounting? 🤔 This new webinar will cover everything businesses need to know to get started with crypto accounting after incorporating crypto into their business models! Industry experts Aaron Jacob and Reagan Cook of TaxBit will thoroughly explore the prevalent operational hurdles encountered by accounting teams when interacting with crypto on the books, and detail how software solutions can effectively

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Financial professionals need collaborative strategies

Accounting Today

Barriers keep CPAs, attorneys, financial advisors and brokers from communicating effectively for their client's benefit — and the benefits of collaboration are significant.

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Intuit Aligns TurboTax and Credit Karma to Create Seamless End-to-end Consumer Experiences

Intuit

To significantly accelerate creating seamless, end-to-end consumer experiences that customers benefit from year-round, Intuit is more closely aligning TurboTax and Credit Karma under Mark Notarainni, executive vice president and general manager of the Consumer Group. Joe Kauffman, currently President of Credit Karma, has been named CEO of Credit Karma, effective August 1, 2024.

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Woodard® announces the keynote speakers for the 2024 Scaling New Heights® conference

Insightful Accountant

Scaling New Heights® conference will be held June 16-19, 2024, in Orlando, Florida and will feature some of the most inuential and dynamic voices in accounting, bookkeeping, and business to encapsulate their theme of “Boldly Go”.

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AICPA names Carla McCall as new chair

Accounting Today

The American Institute of CPAs elected the managing partner of AAFCPAs as its next chair.

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The Power of Words: How to Build Trust & Empathy In Healthcare

RevCycle

In the realm of healthcare, customer service takes on a whole new meaning. It’s not just about resolving billing issues or appointment scheduling; it’s about navigating sensitive situations, fostering trust, and providing a sense of comfort during a potentially stressful time. Here’s where the power of words comes into play. Words Can Build Bridges (or Walls) The language we use in healthcare customer service has a profound impact on patients.

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AI tools that find answers, suggest tax strategies and draft emails for you

Accounting Today

Available technology solutions could boost professionals' efficiency in serving their clients — but only if financial advisors and their customers are open to them.

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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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QuickBooks Enterprise Silver, Gold, Platinum, and Diamond: What’s the Difference?

Ace Cloud Hosting

QuickBooks Enterprise is a powerful accounting software designed for midsized to large businesses. It has the most advanced features compared to other editions of QuickBooks. Its core functionalities encompass advanced.

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KKR signs private credit loan for Australia's MYOB

Accounting Today

The private equity giant acquired the accounting software firm in 2019.

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CCH ProSystem fx Hosting Benefits: Top Reasons to Move on Cloud

Ace Cloud Hosting

For tax professionals and firms, efficiently managing large volumes of paperwork, saving multiple forms, and maintaining various documents can be daunting. During the hectic tax season, gathering all this information.

Tax 81
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New York City's tourists fuel record $4.9B in tax revenue

Accounting Today

Tourists are expected to generate a record $4.9 billion in sales and other tourism-related tax revenue in the current fiscal year, a 16% jump from 2020.

Tax 161
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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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CAS vs. CAAS vs. Profit First w/ Ron Saharyan

Jetpack Workflow

Podcast Summary On this episode of Growing Your Firm, host David Cristello welcomes back Ron Saharyan , co-founder of Profit First Professionals. They explore the concept of value pricing and its importance in pricing services based on the value provided. The conversation delves into various topics, with a promise of exciting announcements between Jetpack and Profit First at the end of the episode.

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Hunter Biden criminal tax trial postponed to Sept. 5 in Los Angeles

Accounting Today

President Biden's son had been scheduled to go on trial on June 20 on charges he failed to pay $1.4 million in taxes from 2016 to 2019.

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Maximizing New Small Business 401(k) Tax Credits

Insightful Accountant

Under the SECURE 2.0 Act, small businesses offering qualified retirement plans like 401(k)s may now qualify for tax credits to reduce plan costs.

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Intuit to cease QuickBooks Desktop 2021 support May 31

Accounting Today

Intuit will cease support for QuickBooks Desktop 2021 starting next Friday, May 31

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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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How To Streamline Your Tree Service Business with Automated Invoice Processing

Outsourced Bookeeping

Are you and your employees bogged down with the task of invoice management instead of attending to the actual tree service operations? There are several daily challenges when it comes to managing a tree service business, from scheduling to meeting customers’ needs. Why waste time on invoice issues and payment management when all of these tasks can be automated?

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Tax Fraud Blotter: Pure fabrications

Accounting Today

Collared; gone deep; to protect and disserve; and other highlights of recent tax cases.

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Evaluating Top Medical Billing Software for Healthcare Providers

Invoicera

Introduction Healthcare professionals running a medical practice often struggle with maintaining operational efficiency while providing quality care to patients. This is why they need medical billing software to automate and optimize the billing process. The right medical billing software can streamline the billing process, saving time and improving accuracy.

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Accounts Receivable Benefits

oAppsNet

In today’s fast-paced business environment, managing accounts receivable (AR) effectively is more critical than ever. AR is a fundamental aspect of a company’s financial health, the balance of money due to a firm for goods or services delivered but still needs to be paid for by customers. Efficient AR management ensures a steady cash flow, strengthens customer relations, minimizes risk, and offers strategic advantages.

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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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Top Remote Accountants for Hire | May 23, 2024

accountingfly

Top Remote Accounting Candidates This Week Looking for remote accountants? Accountingfly can help! With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accountants with no upfront cost. These are just a few of our top candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

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Bulletproof Electric: How Invoice Funding Kept Them in Business

FundThrough

Quick Snapshot Company: Bulletproof Electric, LLCLeadership: Eli Hericks, ownerIndustry: Electrical Services for Oil and GasChallenge: Managing extended payment terms, payroll, and large-scale project financingSolution: Personalized invoice factoring through FundThroughImpact: Enhanced business operations, employee satisfaction, client credibility, and growth Introduction Bulletproof Electric is a small business that serves Northeastern Colorado’s oil and gas sector.

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Finout Raises $26M Series B to Lead the Future of FinOps

finout

I am thrilled to share that we have raised $26.3 million in our Series B funding round. This remarkable achievement was made possible by the support of RedDot Capital, Maor Investments, and our dedicated existing investors, Team8, Pitango, and Jibe Ventures.

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The Great Compression: AI’s Radical Rebirth of Work

Counto

The Great Compression: AI’s Radical Rebirth of Work Earlier this year, we at Counto came to a profound realisation: we are in the midst of the Great Compression. This era is characterised by the rapid integration of AI agents, poised to replace up to 90% of service workers within the business processes they currently drive. This transformation is not just a technological shift but a fundamental change that will reshape industries, economies, and the very nature of work.

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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.

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Creating Your Custom Billing Software: A Step-by-Step Guide

Invoicera

Introduction Handling the billing and invoicing process can be a huge challenge for companies with a complex pricing structure, different sources of income, or many customers. Manually monitoring invoices, payments, and subscriptions can lead to human error, delays, and customer dissatisfaction. A study reveals that the average cost of a manual invoice process is $15 and may go higher because of errors and inefficiencies.

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The Startups Seeking to Dethrone QuickBooks

Cloud Accounting Podcast

Blake and David dig into reports from the Illinois CPA Society and National Pipeline Advisory Group highlighting issues like long work hours, the 150-hour rule, and low starting salaries. They examine the potential disruption of traditional accounting software by startups and vertical SaaS companies offering embedded accounting functionality and review some of the CPA Practice Advisor Readers' Choice Awards.

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Sage's Net-Zero Target Receive SBTi Validation

Insightful Accountant

Sage has confirmed its net-zero targets have been validated by the Science Based Targets initiative (SBTi).

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Remembering Memorial Day 2024 and Forever More

Insightful Accountant

Murph recalls growing up with memories of Memorial Days and understanding what the holiday truly meant.

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Global Accounting Principles and Commission Capitalization

Speaker: Ryan Dillard, Chief of Staff Director at CBIZ ARC Consulting LLC; Kelly Hicks, Global Controller at Airbase

ASC 606 is the revenue recognition standard that sets global accounting principles for all private or public companies that enter sales agreements or contracts with customers. Along with ASC 606, ASC 340-40 was added to address accounting costs to obtain a contact and costs to fulfill a contract. Join us for this webinar when Airbase Controller Kelly Hicks and Ryan Dillard, a Director at CBIZ ARC Consulting explore how to approach capitalizing sales commissions under ASC 340-40.