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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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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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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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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Unlocking the Power of Automation in Spend Management

Accounting Department

In today's fast-paced business environment, optimizing spend management is essential for maintaining financial efficiency and driving profitability. Traditional manual processes can be time-consuming, error-prone, and resource-intensive. However, with the power of automation, businesses can streamline their spend management practices and unlock significant benefits.

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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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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

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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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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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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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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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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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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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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 Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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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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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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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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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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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.

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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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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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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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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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7 Essential Criteria for Choosing the Right Payments Partner

Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms

In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.

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Get paid almost instantly with FedNow

Reconciled Solutions

The FedNow Service (an instant payment infrastructure developed by the Federal Reserve) went live on July 20, 2023. It allows US financial institutions to provide safe and quick (think “seconds”) payment services. The post Get paid almost instantly with FedNow appeared first on Reconciled Solutions.

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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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That’s a wrap! Xerocon Sydney highlights from day two

Xero

It was great to see so many new and familiar faces from Xero’s accounting and bookkeeping community at Xerocon Sydney 2023. As always, day one featured a packed agenda – and you better believe the pace didn’t let up on day two. Sharing insights and inspiration We had another busy morning on the main stage. The day kicked off with a moving welcome from Te Raranga Whanui Kapahaka group, followed by an insightful conversation between Xerocon host Julia Zimero and Xero CEO, Sukhinder Si

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be