Tue.Dec 19, 2023

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Types of Reports in QuickBooks: A Comprehensive Guide

Accounting Department

Reports play a crucial role in managing a business effectively, and QuickBooks provides a wide range of reports that can help small and medium-sized businesses track their financial performance and make informed decisions. These reports provide valuable insights into various aspects of the business, such as income, expenses, sales, inventory, and payroll.

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The 20 most financially savvy states

Accounting Today

The top state in the ranking received a total score for financial literacy of 69.06 out of 100.

Tax 294
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January's QB Talks is our 2024 ProAdvisor Meetup

Insightful Accountant

Insightful Accountant will host a 'talkative' ProAdvisor Meetup for our first QB Talks of 2024. ProAdvisors are invited to this 'open mic' discussion of issues surrounding the ProAdvisor Awards, the ProAdvisor Program and QuickBooks Desktop 2024.

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What don't people get about AI, anyway?

Accounting Today

The AI landscape has a lot of misconceptions and overblown claims. We asked AI thought leaders in the accounting field what some of the worst were.

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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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Top 25 Accounting Influencers You Should Follow in [2024]

Ace Cloud Hosting

The accounting profession helps businesses drive successful commerce around the world. From tax law changes to financial statement reporting changes, so much is happening in this space that it can.

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Leading client onboarding: The prologue to client success

Accounting Today

Accounting firm leaders need to take the lead in welcoming new clients.

More Trending

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FASB proposes guidance on conversions of convertible debt instruments

Accounting Today

Stakeholders have until March 18 to comment on the proposed accounting standards update.

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1099 Rules

Tipalti

Stay compliant in 2024: unravel Form 1099 rules to help navigate tax regulations seamlessly and stay on top of the constantly-changing business taxes landscape.

Tax 75
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PwC makes bullish predictions on AI

Accounting Today

The Big Four firm shared its outlook on generative AI in the coming years, saying accountants should prepare for major changes or else be outcompeted.

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5 Things Missing From Your Balance Sheet

Invoicera

A balance sheet tells a story of a company’s financial health—a tale of assets, liabilities, and the missing chapters of overlooked value. Do you truly know your business’s worth? If not, you are missing something on your balance sheet. A balance sheet isn’t just numbers; it’s a story of your business’s money journey. But sometimes, important things get missed in it.

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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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2023 Top 100 People extra: Pipeline solutions

Accounting Today

As part of this year's Top 100 Most Influential People survey, Accounting Today asked, "How would you fix the pipeline problem of too few people entering the profession?

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Getting the most out of Salesforce Integrations

Nanonets

Introduction In the modern business landscape, Customer Relationship Management (CRM) platforms like Salesforce have become indispensable. Salesforce’s ability to integrate with popular email services such as Outlook and Gmail enhances its functionality, making it a powerful tool for businesses. This integration streamlines communication, ensures efficient data management, and augments customer engagement strategies.

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In the blogs: Manual AI

Accounting Today

Too much money; five little letters on how clients might see you; loss-harvesting season; and other highlights from our favorite tax bloggers.

Tax 136
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The Young CPA Perspective on the Talent Shortage

Blake Oliver

Hear from two young virtual CFOs on the talent shortage and future of accounting. ? I sat down with Hannah Hood and Joey Kinney, CPA of Summit Virtual CFO by Anders , to discuss the challenges facing young accountants today. We cover topics including: · Low starting salaries and lack of flexibility at traditional firms · The value of remote work arrangements · The need for more women leaders and work-life balance · Making accounting adaptable and inclusive Hannah and Joey share their perspective

CPA 52
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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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Calvetti Ferguson expands in Dallas

Accounting Today

The Houston-based firm has acquired local CPA firm Gummer Group.

CPA 171
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AI in Nonprofits: 8 Use Cases

AvidXchange

For the past two years, inflation and other macroeconomic factors have put nonprofits in a crunch. The number of donors is dropping, as is the size of their donations. A report by the Fundraising Effectiveness Project found that large donors cut contributions by nearly 10% in early 2023 while new donors slashed donations by more than a third. Meanwhile, the need for nonprofit services grows.

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What is e Sourcing?

Nanonets

In today’s hyper-digital world, companies are shifting to e-sourcing with e sourcing tools designed for digital transformation in tactical and strategic sourcing. E sourcing software provides efficiency and other benefits, including better vendor selection, collaboration, and visibility into this element of e-procurement and business spending.

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5 Things Missing From Your Balance Sheet

Invoicera

A balance sheet tells a story of a company’s financial health—a tale of assets, liabilities, and the missing chapters of overlooked value. Do you truly know your business’s worth? If not, you are missing something on your balance sheet. A balance sheet isn’t just numbers; it’s a story of your business’s money journey. But sometimes, important things get missed in it.

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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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The best free and low cost apps for bookkeepers

5 Minute Bookkeeping

Are you a bookkeeper looking for affordable and efficient tools to streamline your business operations? In today’s digital age, there are numerous free and low-cost apps available that can help you manage your bookkeeping business effectively. Let’s go over the best free and low cost apps for bookkeepers. Accounting Software My number 1 app is QuickBooks online accountant.

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1042-s

Tipalti

IRS Form 1042-S is a critical tax document for US-based businesses to report payment to foreign persons. Learn how to navigate Form 1042 in this comprehensive article.

Tax 52
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Meet 2023 Top 25 Up-N-Coming Proadvisor Lauren LaMantia

Insightful Accountant

We sat down with Lauren to get her thoughts on being a 2023 Top 25 Up-N-Coming ProAdvisor, her journey, path to success and going above and beyond for her clients.

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Plooto Made True North Mortgage Stand Out by Getting Their Payments Out Fast

Plooto

If we have to reimburse our employees, if we have to pay our vendors, if we have to provide rebates and discounts to our customers, we use Plooto for everything.

CPA 52
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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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Meet Top 25 Up-N-Coming Proadvisor Lauren LaMantia

Insightful Accountant

We sat down with Lauren to get her thoughts on being a 2023 Top 25 Up-N-Coming ProAdvisor, her journey, path to success and going above and beyond for her clients.

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W9 for Vendors

Tipalti

Trades or businesses need to get W9 Forms from U.S. vendors to prepare information returns like Form 1099-NEC and 1099-MISC required by the IRS to report calendar year amounts paid to them of $600 or more or amounts of backup withholding of federal income taxes.

Tax 40
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Payer definition

Accounting Tools

What is a Payer? A payer is the person or business responsible for making a payment to a payee. Thus, a person making a mortgage payment to a lender is designated at the payer, and the lender is the payee. Or, the issuer of a bond is the designated payer of subsequent coupon payments to investors. The concept can refer to the payment for any transaction , such as for goods, services, loans , and dividends.

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1099 Form

Tipalti

IRS 1099 form is an important tax document for independent contractors and freelancers to accurately report their annual earnings and file their federal and state taxes. Learn more.

Tax 40
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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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Financial statement footnotes definition

Accounting Tools

What are Financial Statement Footnotes? Financial statement footnotes are explanatory and supplemental notes that accompany a firm’s financial statements. The exact nature of these footnotes varies, depending upon the accounting framework used to construct the financial statements (such as GAAP or IFRS ). Footnotes are an integral part of the financial statements, so you must issue them to users along with the financial statements.

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1099 MISC Instructions

Tipalti

Boxes on the new Form 1099-MISC are rearranged and renumbered. Boxes 15 through 17 apply to states. Follow IRS 1099-MISC Instructions to complete the tax form. Some exceptions for 1099-MISC reporting aren’t included in this article.

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When to recognize revenue

Accounting Tools

What is Revenue Recognition? Revenue recognition is the process of deciding when to record revenue as the result of a sale transaction. This typically occurs after you have proven that a contract exists between you and the customer, that all performance obligations stated in the contract have been fulfilled, and that you can measure the dollar amount of the sale.

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W9 Automation

Tipalti

Automated W9 management helps tremendously with tax compliance but there are several other factors that make digitization an attractive strategy. Automation cuts down on incorrect information and speeds up the entire process. It facilitates invoice management and vendor finances.

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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.