January, 2023

article thumbnail

IRS audit rates declined further in 2022

Accounting Today

Auditing 317
article thumbnail

Why now is the time to transition to STP Phase 2 in Xero

Xero

By now, you’ll be familiar with Single Touch Payroll Phase 2. This will see your business build on its existing STP reporting to share more information with the ATO and additional government agencies whenever you process a pay run. With Xero’s deferral soon coming to an end, mandatory Phase 2 reporting is set to commence from 31 March 2023. This means that all Xero Payroll users must transition to the Phase 2 reporting standard.

XERO 279
professionals

Sign Up for our Newsletter

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

article thumbnail

Step Away From The Books with Outsourced Bookkeeping

Accounting Department

From a business owner's standpoint, the thought of handing off an entire area of your business for someone else to take care of may seem a bit nerve-wracking. But business owners should consider how much time is being used up on a daily, weekly, or yearly basis on an area of the business, like bookkeeping, that can be spent focusing on sales, growth, and future planning.

article thumbnail

Cloud Cost Optimization 2.0: Embracing AI and Automation to Maximize Cloud Cost Savings

ProsperOps

By 2025, 51% of IT budgets will go to cloud-based systems and operations. But, as cloud adoption increases, so does the cost of doing business. As more cloud services are introduced, along with serverless and microservice-based architectures, measuring cloud costs is both complex and unpredictable. That’s where cloud cost optimization comes into play.

FinOps 130
article thumbnail

Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

article thumbnail

How to Automate Accounts Payable with Multi Entity Management

Fidesic blog

What is Multi Entity Accounting Software? For CFO's and other financial executives with multiple financial entities under a single umbrella multi-entity accounting software enables automated processes to improve accuracy and efficiency of accounting across entities--whether various departments or lines of business within a holding company, franchising organization or conglomerate.

article thumbnail

Top accounts payable trends for 2023

AP Association

Businesses are facing huge challenges as a result of the troubled economy. Inflation has reached a 41-year high of 11.1% and the Bank of England is warning of a long recession looming. As a result, businesses are increasingly automating their accounts payable process to increase efficiency going into 2023. Surveys have revealed CEOs' main goals are digitisation, growth and efficiency.

More Trending

article thumbnail

Four ways to get your banking data into Xero

Xero

One of your most important accounting jobs — bank reconciliation — relies heavily on getting accurate banking data into Xero. Yet entering bank transactions manually is often time-consuming and error-prone. Regular bank reconciliation not only saves you time, it also gives you a wealth of insights at your fingertips. You can spot cash flow trends, identify areas of opportunity, and better understand your financial situation.

XERO 278
article thumbnail

It's 1099 Season at ADC!

Accounting Department

It is that time of the year again, tax season. Many businesses dread this time of the year - it's tough. But thankfully not as tough when you have the unrivaled support of AccountingDepartment.com. "1099 Season" spans from the beginning of the year until January 31st, and during this time, the team at AccountingDepartment.com is hard at work to prepare and review over 6,000 1099's for our clients.

Tax 246
article thumbnail

Cloud Cost Optimization 2.0

ProsperOps

EBOOK Cloud Cost Optimization 2.0 Despite consistent and heavy growth in cloud investments, only 15% of companies surveyed in the 2022 State of FinOps report believe their FinOps program is mature or well-optimized. About the eBook Most organizations are vulnerable to the cycle of cloud costs, in which teams repeatedly address short-term optimizations to achieve mediocre savings outcomes.

FinOps 130
article thumbnail

How to Be a Good AP Clerk

Fidesic blog

Are you ready to take 2023 by storm, boost your job performance and get noticed by your bosses? We looked at content from recruiting agencies all over the internet and came up with some tips on how to be a good AP clerk. The 5 skills we found to improve so you can be a better AP clerk include: Communication, Organization, Attention to Detail, Software Skills and Continued Learning.

AP 130
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

AWS data transfer charges: how to minimize network traffic costs between regions and availability zones

FinOps in Practice

First off, let’s start with defining AWS data transfer. It refers to the movement of data in and out of AWS services over the internet or other networks, or between different AWS services, such as moving data from an Amazon S3 bucket to an Amazon EC2 instance. In other words, it includes various scenarios, like transferring data from on-premises or other cloud platforms to AWS services, or vice versa.

FinOps 130
article thumbnail

Tax strategies to usher in 2023

Accounting Today

Tax 298
article thumbnail

Three things you may not realise about Xero

Xero

At Xero, our aim is to make life easier for accountants, bookkeepers and small businesses. And we understand that there’s a lot to get your head around, so we’ve shared three key facts about Xero that both new and experienced accounting and bookkeeping users may not have realised. Moving clients to Xero can be efficient and stress-free. There’s a common misconception among accountants and bookkeepers that moving clients to new software, like Xero, can be a costly, time-consuming task.

XERO 55
article thumbnail

Accounts Receivable Reports That Get You Paid Faster

Accounting Department

As a business owner, getting paid in full and on time is crucial for a healthy cash flow. However, late payments and bad debts are a constant threat looming over an accounts receivables (AR) team. Accounts receivable reports are a key tool for businesses to manage their AR balances, forecast cash inflow, and stay on top of overdue payments.

article thumbnail

Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

article thumbnail

Melio Now Integrates with Xero

Insightful Accountant

Xero has announced an integration with Melio, a leading B2B payment platform that will permit the automatic sync of A/P and A/R data between the two small business solutions.

XERO 120
article thumbnail

The Struggle to Hire an Accounts Payable Clerk

Fidesic blog

A Microsoft Dynamics GP customer recently came to Fidesic because they were facing an increasingly common problem--they were struggling to hire an accounts payable clerk. The fact is that the industry is currently in a talent shortage as ‘accounting clerk’ has been a difficult position to fill in recent years.

article thumbnail

New Year’s Goals. Ditch the Siloes.

SAP Accounts Payable

As we take the time to get back into the swing of things and dig ourselves out of backlogged emails, we reflect on what we were able to accomplish last year while looking forward to our goals for 2023. Did you close that big deal you were hoping for in Q4? Or were you able to hit those last-minute cost savings objectives? Is part of your 2023 goals to improve your internal collaboration across silos?

AP 115
article thumbnail

Tax season set to start Jan. 23

Accounting Today

Tax 290
article thumbnail

8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.

article thumbnail

Latest product news — February 2023

Xero

It’s time to switch to new reports If you haven’t made the switch to new reports, we urge you to start moving your work across now , so you have plenty of time to get used to them before the older versions are retired. Here are the latest features we’ve introduced to new reports: The current column in Aged reports is now automatically hidden when it’s not needed (such as when ageing by invoice date) or if it’s empty You can now run aged reports at the end of the current month by default, instead

XERO 264
article thumbnail

The Accounting Cycle: Everything You Need to Know

Accounting Department

The accounting cycle is a multi-step process that involves accepting, recording, sorting, and crediting payments made within a business during a period of time. It creates an accurate record of the business's financials that are summarized on its financial statements.

article thumbnail

When Culture Meets Community

Insightful Accountant

MasterYourBooks' Mariette Martinez on the important role both play in reaching personal and professional growth goals for Latinos.

119
119
article thumbnail

The Secret to Automation – Go Slow to Go Fast

Sage Intacct

Recently, I sat in on a financial-services session at our annual Sage Transform conference for Sage Intacct customers and partners. The session focused on family offices and one of the panelists, a CFO at a firm with dozens of multiple entities, described her journey building the firm’s financial tech stack. She spoke of taking months to analyze their business processes so their automation efforts would get it right the first time.

article thumbnail

How to Modernize Manufacturing Without Losing Control

Speaker: Andrew Skoog, Founder of MachinistX & President of Hexis Representatives

Manufacturing is evolving, and the right technology can empower—not replace—your workforce. Smart automation and AI-driven software are revolutionizing decision-making, optimizing processes, and improving efficiency. But how do you implement these tools with confidence and ensure they complement human expertise rather than override it? Join industry expert Andrew Skoog as he explores how manufacturers can leverage automation to enhance operations, streamline workflows, and make smarter, data-dri

article thumbnail

How To Incorporate FinOps Into The DevOps Lifecycle

CloudZero

FinOps, or the practice of managing a company’s cloud computing costs, and DevOps, the process of efficiently building applications in the cloud, should ideally go hand-in-hand.

FinOps 105
article thumbnail

House votes to strip IRS funds intended to catch tax cheats

Accounting Today

Tax 279
article thumbnail

Xero Roadshow 2023: Every step counts

Xero

This February, we’re pumped to be hitting Australia’s major cities and regional towns for – you guessed it – Xero Roadshow 2023! From Geelong to the Gold Coast and Parramatta to Perth, we’ll be touring 17 locations between 7 to 27 February. Since we last hit the road in March 2022, the world has continued to experience lots of change (like talent shortages, rising inflation and cost of living pressures).

XERO 264
article thumbnail

5 Tips For Growing Businesses in 2023

Accounting Department

Smart financial planning is something that sets successful growing businesses apart from others. Whether a business is new or growing in size , these 5 tips can be used by business owners to smarten up their business finances and prepare themselves for a successful future.

article thumbnail

Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.

article thumbnail

All Eyes on Cannabis

Insightful Accountant

The Bonadio Group’s Kristin Kowalski discusses some of the ins and outs of what is becoming a potential growth opportunity in 2023 and beyond. Here’s what today’s accounting professionals should know.

article thumbnail

Proven Strategies to Help Your Accounting Firm Retain, Attract Clients

Plooto

If you have any doubts about the importance of customer service and building solid client relations, consider the following statistic from a Harvard Business Review study: Increasing customer retention by 5% can increase profits from 25 to 95%.

article thumbnail

4 Ways To Help Engineers Understand How Their Choices Affect Cloud Costs

CloudZero

When it comes to cloud costs, engineers have a particular reputation. The executive suite and finance department often share perplexing frustration about why engineers appear not to care about budgets and costs at all.

article thumbnail

Supreme Court considers attorney-client privilege in tax case

Accounting Today

Tax 279
article thumbnail

Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.