August, 2023

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Accounts Payable Automation ROI Calculator

Fidesic blog

When evaluating an automation solution, tangible cost benefits are often difficult to quantify. There's the obvious things, like reducing printing check costs, transitioning to ACH instead of checks, and the reduction of hard costs that relate to shipping, but many of the main benefits are more ‘soft costs'.

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IRS requires business to start e-filing Form 8300 in 2024

Accounting Today

The Internal Revenue Service is telling companies they will need to start electronically filing their forms reporting cash payments over $10,000, starting Jan. 1, 2024.

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IFAC highlights sustainability reporting to world finance leaders

Accounting Today

The International Federation of Accountants issued a call to action to the G20 finance leaders urging them to focus more on sustainability as a way to achieve the United Nations' Sustainable Development Goals.

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Fidesic Features Highlight: Power Reporting

Fidesic blog

Fidesic Power Reporting makes it easy to run custom reports, lookup individual transactions with ease and always be ready for an accounts payable audit at any time.

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5 Steps to Shield Your Business: The Ultimate Guide to Avoiding Payment Fraud

As scams grow more sophisticated, it's crucial to stay proactive in defending against these threats. This guide equips CFOs, accountants, and business leaders with five essential steps—from fundamental safeguards to advanced security measures to strengthen your financial defenses. From enhancing data security to implementing fraud detection tools and safeguarding financial transactions, this guide provides expert advice that could save your company millions.

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Unlocking Financial Agility: The Power of Instant Payments for Small Business Bookkeepers

The Successful Bookkeeper

It’s not just about crunching numbers and tracking expenses. For bookkeepers, it means being there for their clients by understanding the landscape of the industries, adapting financial agility, and advising ways to improve efficient cash flow. Introducing modern technology solutions like instant payments can give bookkeepers an edge in enhancing financial success for their clients.

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How small businesses are navigating AI

Xero

The hype around artificial intelligence (AI) is making small businesses feel that its development and adoption is moving at lightning speed. In fact, our new research shows that 80% of small business owners globally are concerned that the fast pace and nature of AI is leaving regulation in the dust. They told us they want governments to do more, given the potential big impact to industries and the workforce.

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Intuit Named to FIDO Alliance Board in Recognition of Passwordless Authentication Standards Leadership

Intuit

Every day, our employees set out to solve customer problems and deliver seamless experiences, propelled by our AI-driven expert platform strategy and mission to power prosperity around the world. Part of delivering on this means delivering industry-leading customer experiences for more than 100 million consumer and small business customers with Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp.

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IRS updates guidance on handling special state tax payments

Accounting Today

The Internal Revenue Service issued guidance Wednesday on how taxpayers should report the special tax payments, refunds and rebates they received from states in recent years as a form of relief during the pandemic.

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Awesome AI Session at Summit NA 2023

Fidesic blog

Summer went by in a flash and with the back-to-school season underway, things are only going to go faster. Before we know it, we’ll be seeing you in Charlotte for Community Summit North America (October 15-20).

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In the News - September 1, 2023

Insightful Accountant

Murph wants to help you keep abreast of things happening around you—from news to vendor releases, conference tips and IRS updates. If he thinks you need to know, he's telling you.

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How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

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Xero Beautiful Business Fund: How to apply & application tips

Xero

The Xero Beautiful Business Fund has officially been open for one week and we’ve received an incredible response so far! We have four funding categories that Xero small business customers can apply to. Whether you’re looking to take the next step in your sustainability journey, seeking to innovate with the latest technological advancements, give back to your community or upskill yourself or your employees, there is a funding category for everyone.

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Future-Proofing Your Business: Strategic FP&A for Long-term Success

Accounting Department

In today's rapidly evolving business landscape, it is crucial for organizations to future-proof their operations to ensure long-term success. One of the key pillars of achieving this is strategic financial planning and analysis. By effectively managing your financial resources and leveraging data-driven insights, you can position your business to navigate uncertainties and capitalize on emerging opportunities.

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Building Inclusion: Empowering Indigenous voices and finding allyship through education

Intuit

Tell us a little bit about yourself and what brought you to Intuit. Jane Merrick (Intuit Australia): Two years ago I decided to move into the tech space, and this opportunity with Intuit came along—I haven’t looked back since! We have such a fantastic and inspiring team. I love coming to work every day to help small businesses and advisor customers solve their problems.

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FASB approves income tax reporting standard

Accounting Today

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

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How To Streamline Finance Operations Through Automation

Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

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Summit 2023 - AI Session and Hanging on the Expo Floor

Fidesic blog

We are excited to be back at Summit NA in Charlotte and can’t wait to meet up with the network IRL. Booth #1646, We’ll be at the expo all 3 days!

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10 Eye-Opening Statistics about Small Business Finances

Less Accounting

Let’s take a peek into the state of small business finances in 2023—What are their concerns? How are they acquiring financing? In the United States alone, small businesses make up 99.9% of all businesses. That’s 33.2 million small business owners making a global impact. Seeing the state of small business finances can help you understand the external factors affecting your business and how you can better prepare for the future. 1.

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Xero Beautiful Business Fund applications open for small business customers

Xero

Today marks day one of Xerocon Sydney and I’m so excited to share more details on a global initiative called the Xero Beautiful Business Fund. Last month on Xero Day, the anniversary of the day where it all started for us 17 years ago, we announced the Xero Beautiful Business Fund as a way to help our small business customers boost their growth plans and drive future success.

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The Perils of Not Having Real-Time Data for Your Business

Accounting Department

For any business to thrive, it is essential to have accurate and up-to-date information about its operations. Real-time data plays a crucial role in a business's success regardless of its industry or size. However, businesses that use outdated technology and traditional data management techniques, such as manually inputting data into spreadsheets or relying on quarterly reports, miss out on valuable insights regarding their business operations.

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How to Avoid Getting Ghosted: Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

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Celebrate Labor Day by Making AP Less “Laborious”

AvidXchange

Labor Day is the unofficial end to summer for many. A last chance to enjoy the pool and regroup as children begin a new school year. For business finance staff, it’s a respite prior to the Q4 push. This year, in addition to relaxing with family and friends, we think Labor Day should be a time to reflect on how to make your job less “laborious.” And it just so happens our 2023 AP Career Satisfaction Survey results have some tips on how to do just that.

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Whitman invests in Tax Titans

Accounting Today

Whitman Transition Advisors, an advisory organization for accounting firms, made a strategic investment of an undisclosed amount in Tax Titans, a veteran-owned company that operates an online marketplace connecting small businesses and qualified tax professionals.

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This is More Important Than Your Automation

Future Firm

Many small accounting firm owners often obsess over automation to operate their business. In this episode, I discussed the key to reducing workload and enhancing firm success. Listen Below. 0:51 – While I was running my own accounting firm, I experienced the allure of technology and automation, and the tempting notion that the right tech solutions could solve all our issues. 1:21 – Numerous firm owners excessively focus on identifying the perfect tech stack, thinking it’s the k

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11 Ways for High Earners to Reduce Taxable Income [2023]

Outsourced Bookeeping

Various taxes come with higher earnings. This aspect is the primary concern of every working individual. Heavy taxes are imposed on high-earning working professions which burn away through the final income generated. There are dozens of taxes in 2023 that are imposed on high-income earners. Therefore, every working professional requires specialized assistance to save significant finances otherwise catered to tax payments.

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Navigating the Automation Landscape: Selecting Tools That Fit Your Business

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

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Introducing our 2023 Xerocon Sydney event partners

Xero

Xerocon Sydney is just weeks away on 23 and 24 August, and the ICC exhibitor floor will be full to the brim with some of the best and most loved apps, tools and services for accountants, bookkeepers and small businesses. This year, you can expect to see 80+ exhibitors at the event, including more than 70 leading Xero App Store app partners. Whether you’re looking for tools to chase invoice payments, simplify tax compliance, or make job management easier, you’ll find plenty of solutions to help s

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Streamlining Financial Processes: How Client Accounting Services Drive Efficiency

Accounting Department

Efficient financial processes are essential for the success and growth of any business. However, managing tasks like invoicing, payroll management, and financial reporting can be time-consuming and complex, diverting valuable resources from core operations.

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How QuickBooks on Cloud Works – A Beginner’s Guide  

Ace Cloud Hosting

QuickBooks Desktop is a well-known accounting software that assists accountants in managing their financial operations with ease. Nevertheless, businesses nowadays are demanding remote access, cost-effectiveness, smooth user collaboration, and improved.

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Forvis sees revenue grow 13% to $1.7B in first year

Accounting Today

Forvis reported annual revenue of $1,685,539,000 for the fiscal year ending May 31, 2023, a 13% increase a year after merging together two Top 20 Firms, BKD CPAs and Advisors and Dixon Hughes Goodman.

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Secure SaaS Success: Embedded Finance as a Competitive Advantage

Speaker: Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms

Join us for an exclusive webinar hosted by Ian Hillis, SVP of Growth at Payrix and Worldpay for Platforms, where he’ll explore the significant impact of embedded finance on the software industry! This session is designed to provide you with the strategic insights needed to navigate the future of SaaS successfully, all while gaining a deeper understanding of how these trends can enhance your competitive edge, boost revenue, and deepen customer loyalty.

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How Outsourcing Your Restaurant's Bookkeeping Can Save Time and Money

SLC Bookkeeping

As a restaurant owner, your fortè is most likely not related in any way to bookkeeping. Additionally, employing someone is pricey and comes with other costs besides a salary. From health benefits to unemployment taxes, keeping a full-time in-house bookkeeper equals more than you want to spend.

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What Is Provisioning? A Simple Guide For 2023

CloudZero

Your IT infrastructure, resources, and components play a crucial role in your system performance, security, and overall health. Provisioning is often one of the very first steps toward setting up the right environment for your workload requirements - both locally and in the cloud.

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Product wrap from Xerocon Sydney 2023

Xero

We’ve just wrapped up day one of Xerocon, and it didn’t disappoint! The vibe and atmosphere in Sydney has been fantastic. Our leadership team — including new Chief Product Officer, Diya Jolly — shared the latest enhancements to our platform that will help accountants and bookkeepers grow their practice, help their clients succeed, and get the most out of Xero.

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Is it Time for an Outsourced Bookkeeper?

Accounting Department

Some business decisions are obvious. Others can seem like 50/50 propositions that make doing nothing a good third option. Deciding what to do about your bookkeeping, fortunately, is not a dilemma when you know what to factor into your considerations. So, how can you determine whether you would be better off with outsourced bookkeeping services or continuing it onsite at this stage of your growth?

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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