October, 2022

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EOG Accounting ties business goals to positive impact to embrace the beauty of giving

Xero

It’s easy to get lost in the day-to-day clamour of our working lives. Targets, KPIs, deadlines – these are the things that keep many people awake at night, and often distract from the bigger picture. Which is to try to do some good on this planet before we leave it. . The team at EOG Accounting , a solely Xero practice based in North Wales, understands the need to meet business targets, but also to make a positive impact whenever possible. .

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Deloitte launches artificial intelligence initiative

Accounting Today

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How to Increase Net Dollar Retention (NDR) Using Automation

Sage Intacct

Net dollar retention (NDR) is one of SaaS companies' most critical revenue-based metrics. It is material because NDR is the KPI that tells you the percentage of revenue you either gained or lost from your existing customer base over a given period. This lets you understand and optimize the success of the product from your most profitable cohort: current customers.

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How To Unlock Granular Kubernetes Cost Metrics

CloudZero

It can be a challenge to measure costs within a SaaS company. While a business with physical inventory can count the number of items sitting on the shelf and the money needed to create, store, and ship those items, operating within the cloud means SaaS companies have to measure their costs through a layer of abstraction.

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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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Choosing the Best Commercial Collection Services

Enterprise Recovery

When making the decision to use commercial debt collection services, businesses should be choosy. Not only are you selecting a company that should be efficient in recovering what's owed to you, but your brand reputation is also at risk. The collections specialists will be speaking to your clients on your behalf. It's imperative that they're able to be a fair but authoritative representation of your company.

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What you can expect from this year’s Xero Singapore Roadshow

Xero

With just two weeks to go ’til Xero Singapore Roadshow, we are buzzing with all that we have in-store for our accounting and bookkeeping community. Here are some things you can expect. Benchmark your practice. Opening the day, Managing Director of Xero Asia, Koren Wines will unveil some topline findings from our annual Singapore State of Accounting Industry Report.

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What’s next for new invoicing? Here’s a sneak peek

Xero

Invoicing is one of the most critical parts of running a business or practice. That’s why we’re committed to providing you with a smart and simple way to create and send an invoice, so you can work more efficiently, get paid on time and give your customers a better experience. We have two invoicing experiences in Xero right now: the older version (known as ‘classic’ invoicing) and ‘new’ invoicing.

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The Making Tax Digital for VAT portal is closing. Here’s what it means for small businesses

Xero

Close the door, pull down the shutters. The time has come. HMRC is closing the old VAT online portal on November 1. You may have recently received an email from HMRC explaining that VAT-registered businesses will no longer be able to use this gateway to file monthly or quarterly VAT returns. Instead, you’ll need to submit them through Making Tax Digital (MTD)-compatible software. .

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XSBI data shows global trend in small business sales

Xero

Small businesses have survived – and continue to face – a myriad of challenges from a global pandemic, supply chain disruptions, and now impacts of inflation and the rising cost of living. I am constantly impressed by the resilience and adaptability of small businesses as they navigate new challenges and identify opportunities. . Through our latest Xero Small Business Insights (XSBI) data, we can see the global trend of the rising cost of living impacting small business sales.

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Xero named New Zealand’s most-loved accounting software by Kiwi small businesses

Xero

For the fourth year in a row, I am stoked to announce that Xero is the winner of Canstar’s Most Satisfied Customer Award for small business accounting software. We’re super proud to be named New Zealand’s most-loved accounting platform by our customers, and it’s even more special that we’re celebrating this win for the fourth consecutive year. . Canstar Blue is a customer satisfaction research and ratings business aimed at helping consumers make better purchasing decisions.

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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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How to get support from Xero

Xero

We know that when you have a question about Xero, you want a helpful answer quickly so that you can get back to work. . Xero Central is our one-stop-shop for getting the support you need. It has a range of content to help answer your questions about Xero, including how-to articles, videos, community discussions and the option to raise a case with our customer experience team if you get really stuck.

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How Vinod Shah & Co is embracing cloud accounting to reach their paperless goal

Xero

Accounting has been revolutionised many times over with the emergence of new technology. From calculators to Excel spreadsheets, accountants wouldn’t have gotten far if they weren’t willing to adapt for the good of their practices and their clients. . For Ravi Shah, partner at Vinod Shah & Co , change is being embraced in a practice that was first established by his father in 1989. .

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How advisors can support small businesses to access finance

Xero

Small business lending, and in fact lending in general, has had a lot of recent focus – through the Royal Commission, the government support initiatives during COVID-19, RBA rate changes and the work of the Small Business Ombudsman. . A persistent theme we see from small businesses is that many are struggling to access capital when they need it, which can impact a business’ ability to grow or to maintain a positive cash flow. .

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Direct filing of the Singapore GST F5 return is coming to Xero

Xero

At Xero, we are committed to helping Singapore small businesses simplify their accounting processes. And this is why we are thrilled to announce that you can now submit your GST F5 returns quickly and directly from Xero to IRAS in one click, making the filing process simpler. This means you and your advisors can pull the financial data already sitting within Xero into your GST F5 return report.

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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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Celebrating our FY23 Xero Australia Award winners

Xero

Over the past week, we’ve had the great honour of celebrating the outstanding achievements of our small business community by crowning the Xero Australia Award winners for FY23. . We received a record number of entries this year, representing some fierce competition. So those who took out the top spots should be incredibly proud of their accomplishment, which is no easy feat among such a high calibre of contenders. .

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How Blackbook Winery is preparing for vintage years ahead

Xero

Until recently, the UK would have been unlikely to trouble a list of the most prestigious winemakers. Customers would turn to the lush green wine-making regions of France, or the sun-dappled vineyards of Italy, before landing upon Britain for their tipple of choice. . But after several years of boom, with sales increasing and accolades stacking up , UK wine makers are the coming force in the industry, with amazing wineries of all sizes springing up throughout the country.

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The Productivity Solutions Grant (PSG): Future-proofing SMEs in their digital journey

Xero

This is a guest blog post attributed to Jin Lee, Digital Strategy Specialist at W.L.P Group. Singapore continues to lead the way globally in its aspirations to become a digital-first smart city, thanks to government initiatives that extend far and wide. One of the key pillars of this initiative to transform Singapore through technology focuses on helping local businesses use digital technologies to improve operations and build stronger capabilities to grow faster and more efficiently in the digi

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How a Xero rockstar is embracing digital to make things less complicated for her firm

Xero

When Lucy Johnson won the 2022 Xero Award for Sole Practitioner of the Year, her practice – Simplex Accounting (formally known as Isle Book-keep) – was just 12 months old. Knowing the businesses she was up against, Lucy acknowledged: “To even be considered a finalist was a massive deal for me; I was just happy to be there.” . Lucy started Simplex Accounting after being made redundant from her job doing the books for a beauty company.

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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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We made the 2022 Most Innovative Companies list

Xero

Last year, we reached a significant milestone in our data journey when we built machine learning algorithms that worked to accurately predict your transactions’ contact and account codes. Whenever we invest in machine learning, our vision is always to give you more meaningful time back in your day, so we’re thrilled that this work in bank reconciliation has been recognised as a top 10 innovation in the 2022 AFR BOSS Most Innovative Companies list for just that.

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Xero is named one of the UK’s ‘Best Workplaces’ for women and in the tech industry

Xero

Building an inclusive, supportive workplace where everyone can do the best work of their lives sits at the centre of everything we do at Xero. Actually it’s the thing that attracted me to Xero, and was the driving factor in most of our employees applying to join the team. That’s why we are proud to be ranked so highly in two specific Best Workplaces lists – both in areas that are very close to our hearts. .

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Committing to First Nations Communities: A discussion with the Canadian Council for Aboriginal Business

Xero

In 2021, Xero began its journey with the team at the Canadian Council for Aboriginal Business (CCAB) by entering the first phase of the Progressive Aboriginal Relations (PAR) Program in Canada. This signified a commitment to foster strong connections with Indigenous communities built on a foundation of trust and human connection. . By participating in the PAR Program, Xero has been able to partner with the CCAB, exploring how the organization can continue to foster a great place to work for all,

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IRS to target abusive ERTC claims

Accounting Today

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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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IRS hires 4,000 employees to help with next tax season

Accounting Today

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Lawmakers introduce bill to expand anti-money laundering due diligence by finance pros

Accounting Today

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IRS to require speech recognition to reach Practitioner Priority Service

Accounting Today

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Accountants, remove these 5 things from your to-do list

Accounting Today

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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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IRS drafts new K-2. K-3 instructions

Accounting Today

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IRS extends time to 'perfect' R&D credit claims

Accounting Today

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Caterpillar's 15-year tax saga ends with $740M IRS settlement

Accounting Today

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IRS and AICPA call for crackdown on bogus Employee Retention Credit claims

Accounting Today

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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.