Thu.Aug 08, 2024

article thumbnail

IRS processing more ERC claims, moves moratorium date to Jan. 31, 2024

Accounting Today

The Internal Revenue Service is paying out more claims for the Employee Retention Credit program even as it gives the claims greater scrutiny, and is moving the moratorium on processing new claims from Sept. 14, 2023 to Jan. 31, 2024.

Tax 334
article thumbnail

New features to help streamline accounts payable

Xero

Managing accounts payable is a crucial part of doing business, but paying the bills can be time-consuming and inefficient. So we’re on a mission to make it easier. We’re excited to announce that, over the next few months, we’re making some enhancements to the way you manage bills in Xero. These updates will help small businesses to streamline their end-to-end accounts payable process, saving time and gaining efficiencies.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Taxpayers claim $8B in clean energy credits for 2023

Accounting Today

Claims for the Residential Clean Energy Credit averaged $5,084 per tax return.

Tax 317
article thumbnail

Transforming Your Business Strategy with Outsourced FP&A Expertise

Accounting Department

In today’s competitive market, small to medium-sized businesses (SMBs) face the challenge of making strategic decisions with limited resources. One area that often gets overlooked in this equation is Financial Planning & Analysis (FP&A). While it might sound like something reserved for larger corporations with extensive budgets, FP&A is crucial for SMBs aiming to maximize their potential and secure a competitive edge.

Budgeting 256
article thumbnail

Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

article thumbnail

Tax Fraud Blotter: State of crisis

Accounting Today

Fictitious relatives; countless meals; the road to Morocco; and other highlights of recent tax cases.

Tax 304
article thumbnail

Our updated migration approach to move UK customers to new subscription plans

Xero

In May, we announced changes to Xero’s plans in the UK as part of our efforts to simplify Xero’s offering. The new plans, which will launch on 12 September 2024, bundle key features such as Xero Payroll, Xero Expenses, multicurrency, Xero Analytics Plus and bill payments into some plans, making it easier to choose the best option for your business or clients.

XERO 246

More Trending

article thumbnail

How the Xero Beautiful Business Fund helped a platform for pre-loved goods take sustainability further

Xero

“So many parents that we’ve talked to over the years want to shop secondhand, but they find the process time-consuming and frankly, quite overwhelming. We wanted to make it easier for them and make the sustainable choice, the easy choice,” said Nicole Boynton, co-founder of Hand Me Up , an ecommerce platform for second-hand children’s clothing that she started with co-founder Kara Livingston in San Antonio, Texas.

XERO 245
article thumbnail

Vertex buys e-invoicing company Ecosio

Accounting Today

Tax technology company Vertex announced its acquisition of European e-invoicing company Ecosio

Invoicing 182
article thumbnail

Streamline AP: How Fidesic Enhances Two Key Performance Indicators

Fidesic blog

In the realm of Accounts Payable (AP), performance is not just about doing more work; it's about working smarter. These improvements are measured by key performance indicators (KPIs), which not only showcase your team's effectiveness but also pinpoint areas ripe for enhancement. If you're aiming to elevate your AP efficiency, understanding and optimizing these KPIs is crucial.

AP 130
article thumbnail

TaxBit tool supports pricing justifications for digital asset accounting

Accounting Today

TaxBit announced the launch of enterprise-grade pricing feature within the TaxBit Accounting Suite.

article thumbnail

Live Demo - Supercharge your Month End Close

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

article thumbnail

Personal finance classes

Intuit

5 classes to learn personal finance skills In recent years, experts have noticed a gap in the education system. Recent graduates might be ready for their chosen career path, but do they have the personal finance skills they need to thrive in adulthood? In the US alone, only about 50% are financially literate—meaning they reasonably understand money management concepts such as budgeting, saving, and investing.

Budgeting 130
article thumbnail

CAS needs to include client education

Accounting Today

All too often, clients literally don't know what their accountants are talking about.

article thumbnail

Streamline AP: How Fidesic Enhances Two Key Performance Indicators

Fidesic blog

In the realm of Accounts Payable (AP), performance is not just about doing more work; it's about working smarter. These improvements are measured by key performance indicators (KPIs), which not only showcase your team's effectiveness but also pinpoint areas ripe for enhancement. If you're aiming to elevate your AP efficiency, understanding and optimizing these KPIs is crucial.

AP 130
article thumbnail

New! Free Webinar Series: The State of QuickBooks Desktop

Insightful Accountant

What is really going on with QuickBooks Desktop? Fourlane is offering a new webinar series to explain all of the changes with QuickBooks Desktop.

article thumbnail

Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

article thumbnail

Foreign exchange accounting

Accounting Tools

How to Account for Foreign Exchange Foreign exchange accounting involves the recordation of transactions in currencies other than one’s functional currency. For example, a business enters into a transaction where it is scheduled to receive a payment from a customer that is denominated in a foreign currency, or to make a payment to a supplier in a foreign currency.

article thumbnail

Amazon SageMaker Pricing Explained: What You Need to Know

Economize

Introduction to Machine Learning with Amazon Sagemaker Machine Learning, a subset of artificial intelligence enables systems to learn from data, identify patterns, and make decisions with minimal human intervention. Its applications range from everyday services like recommendation systems to complex decision-making processes in autonomous vehicles.

article thumbnail

Employer FICA match definition

Accounting Tools

What is the Employer FICA Match? The employer FICA match is a requirement for an employer to remit to the government double the amount of social security and Medicare taxes withheld from employee pay. This means that the employee is paying half of the amount remitted, and the employer is paying the other half. The FICA acronym refers to the Federal Contributions Insurance Act, which is the law that requires these matching payments.

Payroll 75
article thumbnail

Will California Be First to Deconstruct the 150 Hour Rule?

Cloud Accounting Podcast

Blake and David, joined by guest Amber Setter, dive into the California Board of Accountancy's move to create legislation for an alternative to the 150-hour rule for CPA licensure. They discuss the potential impact on the accounting profession, the need for modernization, and the challenges faced by aspiring CPAs. The conversation also touches on various industry updates, including firm mergers, government accounting practices, and the role of AI in the profession.

CPA 53
article thumbnail

Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

article thumbnail

Success With Goal Setting

Insightful Accountant

Insightful Accountant has partnered with Chris Panek, CPA and Certified Coach to provide training sessions with follow up Q&A sessions for our Be Insightful Premium Content members.

CPA 52
article thumbnail

Top Remote Accounting Candidates for Hire | August 8, 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 accounting candidates with no upfront cost. These are just a few of our top remote accounting candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

article thumbnail

Add Gridlines to QuickBooks Desktop Reports

Insightful Accountant

Intuit introduced a mid-year 'slipstream' update to QuickBooks Desktop reporting that allows gridlines to be displayed in five of the most popular financial reports.

article thumbnail

Data annotation decoded: A complete guide for 2024

Nanonets

Data annotation is the process of labeling data available in video, text, or images. Labeled datasets are required for supervised machine learning so that machines can clearly understand the input patterns. In autonomous mobility, annotated datasets are essential for training self-driving vehicles to recognize and respond to road conditions, traffic signs, and potential hazards.

article thumbnail

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.

article thumbnail

Full cost plus pricing definition

Accounting Tools

What is Full Cost Plus Pricing? Full cost plus pricing is a price-setting method under which you add together the direct material cost , direct labor cost , selling and administrative costs , and overhead costs for a product, and add to it a markup percentage (to create a profit margin ) in order to derive the price of the product. This method is most commonly used in situations where products and services are provided based on the specific requirements of the customer; thus, there is reduced co

article thumbnail

What Does the Credit Manager Do?

oAppsNet

A credit manager plays a crucial role in a business’s financial health and stability. They are responsible for managing the company’s credit policies, evaluating creditworthiness, and mitigating risks associated with extending credit to customers. Understanding the various responsibilities and tasks of a credit manager can help businesses appreciate their strategic importance.

article thumbnail

Face amount definition

Accounting Tools

What is the Face Amount on a Financial Instrument? The face amount is the value stated on the face of a financial instrument. The term usually applies to the amount stated on a bond certificate , which the issuer is obligated to pay when the bond matures. This face amount is usually set at $1,000. A bond can sell at a discount or premium to its face amount, depending on the interest rate that an investor wants to achieve.

40