Mon.Oct 02, 2023

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Child poverty soars, forcing states to offer tax credits

Accounting Today

Eleven states have created or expanded a fully refundable child tax credit following the expiration at the end of 2021 of the federal measure, which enabled families to get as much as $3,600 per child.

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Xero UK Roadshow 2023: Bringing practice efficiency to you

Xero

We’re excited to be coming to a city near you with the Xero UK Roadshow, bringing you the latest updates in Xero. From fresh features to the latest industry trends, there’s so much on offer to help you run your practice more efficiently so you can do more of the things that really matter. We’ll be visiting six cities between 31 October and 22 November 2023: London: Tuesday 31 October Bristol: Thursday 2 November Birmingham: Tuesday 7 November Belfast: Thursday 9 November Edinburgh:

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IRS employee union relieved after gov't shutdown averted

Accounting Today

The National Treasury Employees Union expressed a sense of relief after lawmakers in Congress unexpectedly managed to pass a stopgap spending bill.

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Accelerate your career path inside Intuit

Intuit

How did you get your start in the technology space? I earned degrees in computer science and computer engineering, and I started working for a well-known company as a development manager. I enjoyed the challenges, but I wanted to be part of a team that offered more stability. That’s when my Intuit story begins. I was thrilled to be part of the company, using my skills to focus on location data and improving the lives of our customers’ employees by helping them track their time.

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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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Renovating your back office

Accounting Today

For accounting firms to scale, they need to build a stronger infrastructure of professional HR, marketing, IT and other support systems, explains Rachel Anevski.

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Designing Your Cloud With Failure In Mind

CloudZero

Implementing any cloud development project can be tricky, and frustrating. Especially when you are pressured with time, reactive approaches, or cost-saving scenarios.

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Top 100 2024 Clues: Earn Points at Upcoming Event

Insightful Accountant

You can earn valuable 2024 Top 100 Categorical training points by participating in the upcoming Intuit Virtual Event for ProAdvisors supporting the mid-market with QuickBooks Online-Advanced.

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Art of Accounting: Managing a practice for non-MPs

Accounting Today

While each firm has one managing partner, each partner plays a role in managing part of that practice.

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My First Accountex Summit: A New Chapter in Accountancy Innovation and Beyond

Dext

Having joined Dext just a few months ago as Chief Marketing Officer I was excited to attend my first trade show with the team, the Accountex Summit in Manchester. It was a mix of eye-opening insights, meaningful connections, and an immersive exploration into what lies ahead for the accounting world.

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Corporate tax departments find themselves with too few resources

Accounting Today

Nearly half the leaders of corporate tax departments believe they're severely under-resourced when it comes to technology and hiring, according to a recent survey.

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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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QB Desktop 2024 Version of QBTalks is Tomorrow

Insightful Accountant

Intuit has finally released QuickBooks Desktop 2024 by Sept. 20, so now Murph can give you the low-down. His annual Desktop version of QBTalks is tomorrow, Wednesday Oct. 4, 2 pm (EST). Don't miss it.

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Insights and workflow automation dominate AI solutions

Accounting Today

Over 40 technology leaders discussed their recent accomplishments and plans for the future, and nearly all of them involved AI in some form, mostly for insights and workflow automation.

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12 Jetpack Workflow Alternatives (Features & Pricing)

Jetpack Workflow

At Jetpack Workflow, we know accounting firms want to focus on growing their practice. We work hard to provide a solution that helps them standardize their work and automate workflows. We continually release updates to make our platform even more beneficial. However, we realize we’re not always the right fit for every firm. For example, some firms seek out Jetpack Workflow alternatives because they want practice management software to help them run their entire business.

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M&A roundup: A flood of different deals

Accounting Today

Top 100 Firms, wealth managers, PE-backed platform firms and others announced a number of acquisitions and mergers.

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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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Listen to "QuickBooks Online September 2023 Updates"

Blake Oliver

I'm excited to share the latest Unofficial QuickBooks Accountants Podcast episode with you all. My colleagues at Earmark Media and I are proud to produce this show, already ranking among Apple's top business news podcasts - right up there with Accounting Today, Bloomberg's Talking Tax, and my own The Accounting Podcast. In this episode, Hector Garcia and Alicia Pollock dig into the recent small tweaks and updates in QuickBooks Online, like rolling date ranges in reporting, bulk payroll editing,

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Raise Your Hand If You Like Your Job

Insightful Accountant

A recent HP global survey found that less than a third think they have a 'healthy' relationship with their job.

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Incurred losses definition

Accounting Tools

Related Courses Business Insurance Fundamentals What are Incurred Losses? Incurred losses are those losses that an organization has sustained during a reporting period , even if the associated liability has not yet been settled. From the perspective of an insurer , incurred losses are the grand total of loss reserves and paid claims in a policy year.

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IRS contractor charged in leak of billionaire taxpayer info to news outlets

Accounting Today

An IRS consultant allegedly leaked confidential tax information on former President Donald Trump and billionaires to The New York Times and ProPublica.

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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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How to account for payroll withholdings for health insurance

Accounting Tools

Related Courses Bookkeeping Guidebook Optimal Accounting for Payroll Payroll Management A business routinely deducts a portion of health insurance costs from the pay of its employees. This is done in order to split the cost of the insurance between the employer and employees. To illustrate the accounting for this withholding, ABC International incurs a health insurance cost of $500 per month for Mr.

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Trump made a fortune inflating assets, NY tells court

Accounting Today

The former president wanted to get higher on the Forbes billionaires list and save a fortune on loan terms by overvaluing his properties, according to evidence previewed for a packed courtroom.

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How to write off outstanding checks

Accounting Tools

Related Courses Bookkeeping Guidebook Optimal Accounting for Payables Payables Management When there are old outstanding checks on a bank reconciliation , they should be eliminated. The first step in doing so is to contact the payee , to see if the check was lost. If so, cancel the original check, reverse the payment transaction in the accounting records , and send them a replacement check.

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Debt security definition

Accounting Tools

Related Courses Corporate Finance Treasurer's Guidebook What is a Debt Security? A debt security is any type of security that must be paid back in full to the investor , along with interest. The investor has the right to trade the security to a third party. The risk associated with a debt security is generally less than that of an equity security , since the amount on loan should eventually be paid back.

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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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Fractional interest definition

Accounting Tools

Related Courses Real Estate Accounting Real Estate Tax Guide What is a Fractional Interest? A fractional interest is an ownership share in real estate. For example, three families jointly purchase a vacation property, under an agreement to split their use of the property based on their ownership percentages. The owners must also pay for their respective shares of the property’s maintenance and taxes.

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Net periodic pension cost definition

Accounting Tools

Related Courses Accounting for Retirement Benefits What is Net Periodic Pension Cost? Net periodic pension cost is the cost of a pension plan for a reporting period , as stated in an employer’s financial statements.

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Accretion expense definition

Accounting Tools

Related Courses Fixed Asset Accounting GAAP Guidebook What is Accretion Expense? Accretion expense is the ongoing, scheduled recognition of an expense related to a long-term liability. The amount charged to expense represents the change in the remaining discounted cash flows of the liability. The concept is most commonly applied to asset retirement obligations , which usually extend for many years into the future, and so are measured using a discounted cash flows analysis.

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Common interest realty association definition

Accounting Tools

Related Courses Property Management Accounting Real Estate Accounting What is a Common Interest Realty Association? A common interest realty association governs a common interest community, such as a condominium development or timeshare units. The association is responsible for property maintenance and repairs, management services, and other tasks defined in its governing documents, which are frequently subcontracted to a property management company.

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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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Exit price definition

Accounting Tools

Related Courses Fair Value Accounting What is Exit Price? Exit price is the price that a seller would receive in exchange for the sale of an asset or would pay to transfer a liability. This price should be obtained in an orderly transaction between market participants. A exit price is a bid price, since the seller is setting an offer price for prospective buyers.

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Group insurance definition

Accounting Tools

Related Courses Business Insurance Fundamentals What is Group Insurance? Group insurance covers more than one person, typically a cluster of employees and their dependents, or the members of a professional association. Group insurance is typically offered for health insurance and life insurance. This insurance is usually renewed on an annual basis. Advantages of Group Insurance Selling group insurance reduces selling costs for insurers , which allows them to offer reduced prices to employers.

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Supporting activities definition

Accounting Tools

Related Courses Auditing Nonprofit Entities Nonprofit Accounting What are Supporting Activities? Supporting activities are those actions taken by a nonprofit organization other than program services. Supporting activities typically include fundraising activities, management and general activities, and membership development activities. Donors prefer to see a low ratio of supporting activities to program services, which indicates that the bulk of their donations are being used to further the main

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Affiliate definition

Accounting Tools

What is an Affiliate? An affiliate is a relationship between two businesses where one firm owns a minority interest in the other organization. The concept can also describe the relationship between two subsidiaries that are owned by the same parent company. Affiliation can also exist when two firms have interlocking directorships. For example, if ABC International owns 25% of Grouch Electronics, then the two entities can be considered affiliates.

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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.