August, 2024

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The Hidden Costs of Cheap Accounting Services

Accounting Department

Running a business is no small feat, and managing finances can be one of its most challenging aspects. It’s no wonder many business owners are lured by the promise of cheap accounting services. If you think you're saving money with these budget options, think again. This post will uncover the hidden costs that could be undermining your business and explain why investing in quality accounting is crucial for long-term success.

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How many millionaires? Tax returns by income group for 2024

Accounting Today

Millionaires only accounted for 0.22% of total returns filed this year for the 2023 tax season.

Tax
professionals

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New features coming to Xero invoicing

Xero

We’re committed to continuously improving your invoicing experience in Xero. And as we transition to the new version of invoicing, we’re continuing to roll out more features and enhancements designed to streamline your workflow and boost productivity. As a reminder, there are some important changes happening in Xero invoicing: Beginning the week of 2 September 2024 at 9am NZT, we will be defaulting users to the new version of invoicing experience on a rolling basis.

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Bookkeeping vs. Accounting: Here’s how they differ

Intuit

What’s the difference between bookkeeping and accounting? These two professions seem to go hand in hand. Some even use the words interchangeably in conversation. But the truth is that they’re not as similar as some may think. In this guide, we’ll dive into the finer points of the two professions. We’ll define each, explore the differences between bookkeeping and accounting, and discuss what it takes to pursue roles in the fields.

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8 Ways to Torture Your CFO

The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.

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Fidesic AP to Launch Fido Magazine

Fidesic blog

The inaugural issue of Fido Magazine will be available in print with articles geared toward the Microsoft Dynamics Community.

AP
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FinOps Tool Vendors Adopt FOCUS

FinOps Foundation

Key Insight: In addition to all major cloud infrastructure providers, third-party FinOps tool vendors are adopting the FOCUS for their platforms. Thousands of Practitioners rely on these tools to perform FinOps in their organizations. To help Practitioners understand this landscape, the FinOps Foundation will continue to track vendor adoption, and will eventually offer an official certification signifying conformance with the Specification.

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The 'Security Six' protects tax pros against cyberattacks

Accounting Today

The Internal Revenue Service and its partners have identified half a dozen steps for safeguarding taxpayer information.

Tax
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Reflections from Xerocon Nashville

Xero

The first thing people ask after I attend a Xerocon event is, “Well, how was it?” It’s such a simple question, and yet if you’ve ever attended Xerocon, you’ll understand why it’s so hard to answer. How do I describe the excitement around Xero’s latest innovations? The in-depth discussions on industry trends? The connections made while wandering the exhibition floor?

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AI skills to boost your tech career

Intuit

10 AI skills you need for a career in tech By now, it’s no secret that proficiency with artificial intelligence (AI) is a necessity to move forward in the tech job market. Advancements in technology or new platforms roll out seemingly every day, and some of the biggest brands in the world are exploring the best implementations for AI—if it’s not already an integral part of their workflows.

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What’s that Accounts Payable Automation Company with the Octopus Logo?

Fidesic blog

Fidesic is that AP automation company with the octopus logo. Fidesic, the only octopus AP automation built specifically for Dynamics GP & Business Central.

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How to Streamline Payment Applications & Lien Waivers Through Innovative Construction Technology

Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant

Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.

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8 best practices for modernizing your AP invoice process today

Cevinio

Explore the best practices for modernizing your AP invoice process.

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Boosting Your Bottom Line with Financial Forecasting

Accounting Department

In today's competitive landscape, small and medium-sized businesses (SMBs) need every advantage they can get to thrive and grow. One powerful tool that can significantly impact a company's bottom line is forecasting.

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Coca-Cola to pay $6B tax bill after Tax Court ruling

Accounting Today

Beverage giant Coca-Cola said that it will pay the very old debt, but it is still appealing.

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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.

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Precision in Motion: Why Process Optimization Is the Future of Manufacturing

Speaker: Jason Chester, Director, Product Management

In today’s manufacturing landscape, staying competitive means moving beyond reactive quality checks and toward real-time, data-driven process control. But what does true manufacturing process optimization look like—and why is it more urgent now than ever? Join Jason Chester in this new, thought-provoking session on how modern manufacturers are rethinking quality operations from the ground up.

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Running with data scientists: what it’s like to work in a dynamic tech culture

Intuit

The work of data scientists isn’t easily understood. Their work begins with laying a strong data foundation to perform robust data explorations followed by employing a set of mathematical techniques and experiments to deliver durable benefits. But it is not just the promising nature of their work. The environment in which they thrive empowers them to create meaningful experiences for customers and see impact in the business world.

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What’s that Accounts Payable Automation Company with the Octopus Logo?

Fidesic blog

Fidesic is that AP automation company with the octopus logo. Fidesic, the only octopus AP automation built specifically for Dynamics GP & Business Central.

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What is Accounts Payable (AP), it’s Purpose, Process and What Tools are Used?

Compleatable

Current accounts payable purposes and processes Accounts Payable or AP as it is also known, is a term used to describe the means of money being owed by a business to it’s suppliers for goods and services provided. An Accounts Payable (AP) department within a business might be made of a single individual to many tens of people. The main responsibility and duties of an AP department can vary but broadly speaking, this consists of making sure that purchase invoices received from suppliers are proce

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Overcoming Hurdles with Outsourced Client Accounting Services

Accounting Department

As a business owner, you can face various challenges, from any direction. From staffing woes to cash flow issues and the ever-growing threat of cybercrime, you’re constantly juggling risk and reward to keep your business afloat.

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AI In Accounting: A Practical Roadmap For Smarter AP

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

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SEC approves tougher rules around auditor 'negligence'

Accounting Today

The commission approved proposals from the PCAOB around contributory liability, the responsibilities of the auditor, and technology-assisted data analysis.

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How Art Outreach is drawing on the Xero Beautiful Business Fund to create new possibilities for education

Xero

“I used to volunteer at a local food distribution program. Seeing the kids we served take food to their home made me want to do something beyond just providing a basic necessity,” said Mae Anderson, Chairman of Art Outreach , a non-profit arts intermediary dedicated to supporting art practitioners as well as championing art appreciation and visual literacy in Singapore.

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How to become a prompt engineer

Intuit

Prompt engineers specialize in making the most of artificial intelligence (AI) platforms. These professionals understand the ins and outs of how AI platforms think, designing the most efficient prompts for achieving desired results. Prompting roles appear to have a promising future, too. The global prompt engineering market size is projected to grow at a compound annual growth rate (CAGR) of nearly 33% from 2024 to 2030.

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Fidesic AP to Launch Fido Magazine

Fidesic blog

The inaugural issue of Fido Magazine will be available in print with articles geared toward the Microsoft Dynamics Community.

AP
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Stop Budget Burnout: A Better Way to Grow Your Nonprofit in 2026

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

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What are Large Language Models (LLMs)

Nanonets

Introduction We’ve all asked Alexa to play a song, or Siri to call someone, or ChatGPT to answer our questions. It’s quite fascinating how technology has advanced to a point where it can understand our intent and give us context aware responses. But what exactly is the technology behind all of this? Large Language Models (LLMs) are AI systems that can understand human language, and also generate context aware responses based on it.

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Transforming Business Efficiency with Seamless Systems Integration

Accounting Department

In today's fast-paced business world, growing companies often find themselves accumulating multiple applications to enhance productivity. However, without proper integration, these applications can lead to siloed operations and data redundancies, ultimately hampering efficiency.

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PCAOB sees audit deficiencies leveling off at largest firms, but problems remain

Accounting Today

The timing came months before the reports have been released in recent years thanks to ongoing efforts to accelerate the release of reports.

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How Kiwi Skips is shaking up New Zealand’s recycling industry

Xero

“I kept seeing a lot of useful material getting thrown out to the landfill, construction waste mainly, things like metal, wood, plasterboard and concrete which are all reusable with a little work,” says Dan Butterfield, owner of Kiwi Skips , a New Zealand-based on-demand skip hire company committed to sustainable waste management. “Watching it all go to waste felt wrong – but it was pretty easy to fix.

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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

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How to become a prompt engineer

Intuit

Prompt engineers specialize in making the most of artificial intelligence (AI) platforms. These professionals understand the ins and outs of how AI platforms think, designing the most efficient prompts for achieving desired results. Prompting roles appear to have a promising future, too. The global prompt engineering market size is projected to grow at a compound annual growth rate (CAGR) of nearly 33% from 2024 to 2030.

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Where We're Going - Fidesic In-Person Event Schedule

Fidesic blog

2024 has been the year of in-person events over here at Fidesic. We have been going to a lot more meetups and smaller conferences this year.

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How to Use QuickBooks Enterprise to Track Inventory

Ace Cloud Hosting

Running an inventory-based business comes with its own unique set of challenges. Beyond the usual responsibilities of payroll, customer service, and budgeting, managing and accounting for Inventory adds another layer.

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5 KPIs to Help Drive Your E-commerce Business

Accounting Department

In the dynamic world of small business, staying ahead means constantly measuring and optimizing performance. That's where Key Performance Indicators (KPIs) come in. These metrics help business owners, entrepreneurs, and startups monitor their progress, identify areas for improvement, and make data-driven decisions. Now that we understand the importance of KPIs, let's focus on the top 5 essential KPIs for e-commerce businesses.

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You upgrade everything else. Why not your close process?

You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.