December, 2022

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Trends in client documentation that make accounting easier and audits less painful

Accounting Today

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How to scale your business globally with Xero and Airwallex

Xero

Despite the current economic climate, running a global enterprise is still the goal of many small and medium businesses. Recent research by our partner Airwallex shows that 70% of UK SMEs plan to expand into foreign markets in 2023. Of those, 81% want to grow their business in Europe and North America, while 60% hope to scale in the Asian Pacific, Latin American, African and Middle Eastern markets. .

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Happy Holidays from AccountingDepartment.com!

Accounting Department

Co-founders Dennis and Bill recorded their annual holiday message to clients, sharing their views on the past year as well as what they're planning for the future! (and maybe a few bloopers to enjoy at the end).

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Your AP Team Needs Help, But Do You Know Why?

Ascend Software blog

Explore your AP team’s day-to-day to maximize their potential and your enterprise overall According to a survey by Oracle , “strategic CFOs have stated that investing in new financial management technology is one of the most important goals for financial success.

AP
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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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9 Reasons You Should Be Reviewing Your Profit & Loss Report

The Savvy Bookkeeping Blog

A profit and loss (or income) statement lists your income and expenses. It tells you how much profit you’re making, or how much you’re losing. It’s one of the most important financial documents your business will need to produce. Successful business owners review their Profit & Loss regularly.

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Warning Signs Your SaaS Company is Outgrowing QuickBooks: Manual and Inflexible Billing

Sage Intacct

In the beginning stages of many companies and accounting departments, in SaaS billing out of spreadsheets is often a sufficient–though far from perfect–method of handling the business's finances. It's better than nothing.

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Key insights into small business performance in 2022

Xero

While many hoped 2022 would be a year of recalibrating and regaining some certainty, it instead brought more change that small businesses have had to adapt to. . We’ve been talking to our customers throughout the year, gathering information on how they’re feeling, how their business is performing, and the key challenges they are facing. Thanks to Xero’s Small Business Insights (XSBI) program, we’re able to get real data which, combined with these anecdotes, gives us a reliable picture of the sma

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An Outsourced Bookkeeper Could Be The Perfect Addition to Your Business

Accounting Department

Small businesses, especially start-ups, face all sorts of challenges, and one of the biggest is keeping track of financial information.

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Post Vendor and Customer Invoices Using PaPM’s Remote Function Adapter Finance Accounts Payable and Receivable

SAP Accounts Payable

It’s time to present the next Remote Function Adapters (RFA) delivered by SAP Profitability and Performance Management (PaPM), namely the RFA Finance Accounts Payable (RFA FI-AP) and RFA Finance Accounts Receivable (RFA FI-AR). These RFAs, along with other functions provided by PaPM, such as allocations, calculations, joins, can facilitate various business processes of calculating values and immediately booking them as for instance Accounts Payable and Receivable.

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ERP and Accounts Receivable Automation Integration Best Practices

Gaviti

Information silos are one of the biggest thieves of efficiency at companies worldwide. Companies spread their data across multiple platforms that update at different rates. Ultimately, this data falls out of sync, and some departments never get access to invaluable information that could help them make better decisions. This is why so many companies now look to accounts receivable integration and other similar options to break down information barriers.

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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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Why Financial Planning is Important for SaaS CFOs During a Market Downturn

Sage Intacct

Financial planning can feel like spinning plates on sticks even during the best market conditions. There’s so much to keep up in the air, and if things fall, they certainly won’t fall gently. And when the markets turn against you during a recession, this feeling of fragility and anxiety can get even worse.

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A call for delaying the new 1099-K threshold

Accounting Today

Tax
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Tips to keep sustainability top of mind this festive season

Xero

After a turbulent few years for the world, this end of year period is shaping up to be a time of relative normality and a great chance to unwind, rest and have the time to connect with friends and family. This time of year means different things to different people all around the world. However you like to spend it, remember to look after yourselves, be kind to the people around you, and get ready to take on 2023 with a renewed spirit.

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An Inside Look at NetSuite Cost Analysis

Accounting Department

Cost analysis is sometimes overlooked by business owners simply because it is inherently complex and time is precious. In-depth cost analysis performed in a methodical manner highlights costs for services and goods.

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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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How Tracking Kubernetes Costs Over Time Reveals Important Context

CloudZero

Your company may receive a monthly bill that includes the storage, network, and compute used to run Kubernetes applications. At this point, you can see how much you’ve spent on Kubernetes as a whole.

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How A/R Collections Data Can Improve Working Capital Management

Gaviti

Are you looking for new ways to improve working capital management? Most business owners have this on their annual to-do lists. It is crucial for small businesses that typically do not have the extensive funding of their bigger competitors. Small businesses have increasingly turned to automation to resolve operational issues, and maintaining cash in hand is no exception.

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Why Digital Technology is Crucial to an Accounting Firm’s Success

Plooto

For accounting firms , the changing business landscape, clients' evolving needs, and constant introduction of new technology coming to market can seem overwhelming. Help has arrived! We've created the following guide explaining the leading technologies, their impact on the accounting industry, and the accountant’s daily tasks.

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IRS delays $600 threshold for 1099-K reporting

Accounting Today

Tax
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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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Five tips for small businesses to kickstart the New Year

Xero

Running a small business is no small feat. The journey can be a roller coaster of ups and downs, and sometimes sound business advice can be tricky to come by. . As the holiday season fast approaches, it’s a great time to reflect on the year that has been and establish your business priorities for FY24. Richard Poole from Co-Pilot Business Advisory , is a business advisor and coach with over 25 years experience in running his own businesses.

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Client Accounting Services: The Complete Guide

Accounting Department

When business owners are first starting out, they usually do not have the time or resources to keep track of their finances. This is where client accounting services come in. Client accounting services can help companies manage their finances, keep track of their spending, and plan for the future.

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Databricks Cost Optimization: Manage Spend With CloudZero

CloudZero

Databricks has emerged as one of the most powerful solutions for organizations to sort and normalize the data they ingest. But like all cloud providers — from the big three to more specialized infrastructure vendors — it adds complexity to customers’ IT spend.

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Accounts Receivable and Business Collections Trends for 2023

Enterprise Recovery: Accounts Receivable

It's time that we review our blog posts from the past year to discover any trending topics for 2023. In previous years, we've used this annual review to learn insights on how we can do better for our readers. Let us know if there's a topic that we can do better for you in the upcoming year. Here are the Accounts Receivable and Business Collections Trends for 2023.

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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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Creating New Accounting Firm Revenue Streams to Unlock Growth

Plooto

Accounting firm revenue streams are changing. To survive and thrive, they are shifting or adding offerings from tax compliance services to business advisory services to generate new revenue streams for profitable growth.

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IRS offers guidance on wage and apprenticeship rules for green tax credits

Accounting Today

Tax
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Why you should embrace eInvoicing, according to the experts

Xero

eInvoicing is a new way to send and receive invoices electronically directly between accounting systems. How? It’s all done via a secure platform called the Peppol network. Not only does eInvoicing help facilitate faster payment times, but it’s also more efficient, accurate and – importantly – safer. In fact, everyone from enterprises (like Bunnings ) to software providers and government agencies are jumping on board.

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Is It a Good Idea To Outsource as a Start-Up?

Accounting Department

Startup founders and managers rightfully question whether it is prudent to outsource accounting and bookkeeping or keep the work in-house. Chart out the positives and negatives of outsourcing accounting/bookkeeping projects and you’ll find the positives are significantly greater in number.

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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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MongoDB Cost Optimization: Manage Your Spend With CloudZero

CloudZero

MongoDB has evolved into the database solution of choice for developers looking to build efficient, scalable applications in the cloud. But, as when using any cloud-based infrastructure, using MongoDB introduces an additional layer of complexity to customers’ IT spend.

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4 Signs Your B2B Collections Policy Isn't Working

Enterprise Recovery: Accounts Receivable

The objective of an effective collections policy is to ensure that clients pay on time. The policy will also determine what happens when the client doesn't pay within the timeframe of their payment terms. When your business is struggling with cash flow or falling behind on collecting what's owed, it could be a sign that the policy needs updating. Here are signs that your B2B collections policy isn't working.

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Reduce the Complexity and Costs of Your Prior Authorization Process

SSI Healthcare Rev Cycle Solutions

Reduce the complexity and costs of your prior authorization process [Webinar]. ​The path to quicker, more accurate prior authorizations + ask the experts! Live webinar: Thursday, December 15, 2022 2:00 pm CT. Prior authorization is not only one of the most time-consuming aspects of all revenue cycle transactions, but it is also one of the leading causes of claim denials, according to a recent report by the American Hospital Association (AHA).

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As tax season looms, staffing issues plague practitioners again

Accounting Today

Tax
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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.