December, 2022

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

Accounting Today

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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.

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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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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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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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Tax pros blast IRS's 'nearly nonexistent' priority phone service

Accounting Today

Tax 297
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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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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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Quick Start Guide to a Crystal Clear Close

Did you know automating your month-end close can save up to 40% of the time typically spent on manual reconciliations? CFOs and controllers are leveraging SkyStem's workflow management and reconciliation tool to eliminate costly mistakes, ditch manual reconciliations and close faster. Want to know how they do it? Download our Quick Start Guide to a Crystal Clear Close!

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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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Get your NZ payroll fit for the festive season

Xero

As we near the end of the year and begin to wind down for the summer break, it’s a good time to make sure you’ve got your payroll sorted. We get asked lots of payroll questions around this time of year so here are the answers to the most common ones. How do I pay my employees all their holiday pay? It’s not possible to pay out holiday pay as such. The holiday pay figure in Xero shows 8% of an employee’s total gross earnings for their current anniversary year.

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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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A call for delaying the new 1099-K threshold

Accounting Today

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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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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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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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Accounts Receivable and Business Collections Trends for 2023

Enterprise Recovery

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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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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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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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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IRS delays $600 threshold for 1099-K reporting

Accounting Today

Tax 280
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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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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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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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4 Signs Your B2B Collections Policy Isn't Working

Enterprise Recovery

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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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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The Last Minute Year-End Checklist for Business Owners

Accounting Department

The year is drawing to a close, setting the stage for a bright 2023. If you own or manage a business of any type or size, it is definitely time to prepare for the transition to the new year, if you haven't already.

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

Accounting Today

Tax 267
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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.

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4 Common Obstacles To Managing Microsoft Azure Costs

CloudZero

Microsoft Azure was a relative latecomer to the public cloud market: AWS preempted everyone in 2006, and Google GCP came next, in 2008. By the time Azure launched in 2010, the public cloud market had already grown to more than $24 billion.

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How to Control Your Cash Position and Reduce Customer Churn with SaaS Metrics

Sage Intacct

For SaaS CFOs , guiding the direction of their company is a lot like someone steering a massive ship. The ship itself is so much larger than the person controlling it that it seems almost shocking that they can exert so much influence over the vessel's direction and trajectory.

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Don't Let Past Due Invoices Ruin Your Holidays!

Enterprise Recovery

The holidays are a special time when your business breathes out a sigh as one year ends and another begins. Right? Before that happens, there is much to do! The end of the year signals the looming beginning of tax preparation and budget decisions. It also means closing out the books for the year and discovering delinquent receivables. Don't let past-due invoices ruin your holidays!

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Thanks for joining us at the New Zealand Roadshow 2022

Xero

As the New Zealand Roadshow 2022 – Tiny Edition comes to a close, we reflect on an incredible six months on the road. . We visited 28 locations across Aotearoa, travelled over 7000 kms, hosted 112 events, and served over 800 coffees from our tiny home. . It’s been a whirlwind few months, and we’re feeling grateful for the opportunity to get together with so many of our partners and customers. .

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Best Practices to Ace Your Close

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Whether you’re on a 1-day close or a 10-day close, there are some fundamental commonalities that all strong accounting departments share when it comes to the month-end close. Please join us for an informative webinar where we share best practices that your team can implement today to ace your close! 1 CPE credit will be provided for qualifying participants.