Sat.Dec 31, 2022 - Fri.Jan 06, 2023

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Here's Your Sign to Outsource in 2023

Accounting Department

Most business owners and managers are busy to the point that they overlook the signs that indicate it is time to outsource bookkeeping and/or accounting projects to outside specialists. Instead of attempting to do everything in-house, trust the bookkeeping services professionals to complete numbers-related projects on your behalf.

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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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IRS audit rates declined further in 2022

Accounting Today

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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?

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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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The Financial Close Process Explained

Accounting Department

With 2022 behind us, it's time to start focusing on closing the books for the year and putting 2023's goals in the sights of business owners. Closing the books is a critical business process for many reasons. Doing so leads to the data needed for the creation of financial statements that can guide strategy and decision-making for business owners.

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What Is Kubernetes HPA? A Guide To Pod Autoscaling In K8s

CloudZero

It's hard to predict the precise amount of resources a new Kubernetes workload requires for optimal performance. And, as your workload evolves, that initial resource consumption will also change. Fortunately, Kubernetes supports scalability by default.

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Changes to Lease Accounting Rules (ASC 842)

SMB Accounting and Consulting

New rules are going into effect for lease accounting which may change how small businesses who follow Generally Accepted Accounting Principles (GAAP) think about and reporting leases. Under the old rules, financial reporting requirements were determined based on whether a contract was considered a capital or operating lease. Capital leases were leases of equipment or large assets.

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Losing Accountants? Here's How to Help Your Accounting Team

Enterprise Recovery

The Wall Street Journal is reporting that the number of accountants and university students that are studying accounting is falling. The long hours, especially during tax season, are turning off young recruits. Enterprise corporations are offering college credits and higher pay to entice more people into the field. Let's evaluate what accountants do at your business and what to do when your accounting team is dwindling.

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The Year Ahead

Insightful Accountant

Canopy's Tax Resolution Subject Matter Expert Jason Penninger provides his thoughts on what the accounting profession might expect to see in 2023.

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IRS refunded $14.8B for unemployment compensation exclusion

Accounting Today

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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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The 7 Best FinOps Blogs, Books, And Other Resources

CloudZero

There are almost as many reasons for learning FinOps practices as there are resources available to learn from.

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How to Build A Six-Figure Firm On Instagram

Earmark Accounting Podcast

Thanks to our sponsor, Accountests for making this episode possible! To learn more about Accountests, visit: [link] Sign up to get free CPE for listening to this podcast [link] Download the Earmark CPE App Apple: [link] Android: [link] Connect with Our Guest, Sandra York LinkedIn: [link] Follow Sandi on Instagram: [link] Learn more about Fit Money Coach Website: [link] Connect with Blake Oliver, CPA LinkedIn: [link] Twitter: [link] Sandra York, CPA, burned out as a senior manager at a Top 100

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What About QuickBooks Card Readers?

Insightful Accountant

Someone wrote in asking about the different types of QuickBooks card readers for use with Payment Services. Which one do you have?

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IRS updates guidance on R&D expensing after Congress fails to delay change

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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Getting Ready for Increased Business Travel with a New Expense Management System

NextProcess

All companies need methods for handling reimbursement of employee expenses. For small companies, this is typically a simple system. Employees save their receipts, and the business issues a payment. As a company grows, though, managing expenses becomes more complicated. For organizations with hundreds or thousands of employees, it’s nearly impossible to process all the expense reports using a manual, paper-based system.

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Jan 4, U.S. Self Employment Income - Self Employment Tax

Bookkeeping Essentials

Self employment income is subject to U.S. self employment tax. updated to 2023. You'll find information on estimated taxes, standard mileage rates and U.S. rules for business use of your car.

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6 Ways to Improve Tight Margins in Your Restaurant

SLC Bookkeeping

With the past two years of Covid behind us, we would all hope to start seeing great margins come back. However, even in a post-Covid time, there are still a lot of things that are jeopardizing those margins. Things like higher food costs, supply problems, and consumer behaviors have changed. Restaurant owners now see trends of even tighter margins in the industry.

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Audit committees eyeing new rules from the SEC and PCAOB

Accounting Today

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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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The 7-Step Pathway to Reducing Your Workload

Future Firm

You may be starting an accounting firm and unsure how to build it without burning yourself out, or you may have a 6- or 7-figure firm where you’re working too much. I’ll share a 7-step path you can follow to significantly minimize your workload. Listen Below. 1:17 – The goal of each step will be to better systematize your business and/or significantly shield your time from areas that you should not be involved in. 2:00 – Step 1 in the pathway to reduce your workload is to

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How to Choose the Right Accounting Software for Your Needs

Counto

How to Choose the Right Accounting Software for Your Needs Starting and running a small business can be daunting. Accounting software, in conjunction with key accounting practices , can help you manage financial data and ensure that your company runs smoothly and efficiently. There is many accounting software for small businesses in Singapore. However, knowing which to choose can be challenging.

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Why can't accountants work 40-hour weeks?

Blake Oliver

Me: "Why can't accountants work 40-hour weeks?" Grizzled Director/Partner: "Because accounting is deadline-driven. Unless you change the deadlines, you can't change the busy season." That's the number one argument I hear against the 40-hour week for accountants. Maybe that was true in the past, but it isn't true today. There's tech your firm can buy TODAY that will cut your workload by 20% or more.

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Art of Accounting: Nine predictions for the future

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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An Insider’s Look at AWS re:Invent 2022

CloudCheckr

(This post was originally published on the Spot by NetApp blog on Dec. 21, 2022.) By Shon Harris, Developer Relations, Spot by NetApp Greetings from Las Vegas, and the first “normal” AWS (Amazon Web Services) re:Invent since the show in 2019! We made it! Now begins the recovery and the slog back to “normal.” It does not matter if it was your first, third, or even fifth AWS re:Invent experience.

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How to Choose the Right Accounting Software for Your Needs

Counto

How to Choose the Right Accounting Software for Your Needs Starting and running a small business can be daunting. Accounting software, in conjunction with key accounting practices , can help you manage financial data and ensure that your company runs smoothly and efficiently. There is many accounting software for small businesses in Singapore. However, knowing which to choose can be challenging.

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Ron Baker: Audits are Useless

Blake Oliver

Audit is "completely irrelevant" and "useless." That’s according to accounting thought leader, Ron Baker. As you can tell from the clip above, Ron's not too impressed with the audit these days. Ron Baker joined me and David Leary on the Cloud Accounting Podcast to talk about crypto and the role of auditors in protecting investors and the public. Ron's got a point— The latest Public Company Accounting Oversight Board (PCAOB) inspection of 2021 audits found that 55% of audits are defective — and O

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The economic forecast for accountants

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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Controls Aren't Enough to Prevent Cash Leakage in Payables

Oversight

If you’ve worked in Accounts Payable (AP), you know how easy it is to miss-key invoice details, submit multiple entries for the same invoice, and deal with lost discounts due to inefficient approval processes. Even the slightest detail, such as an extra digit in the dollar amount, or a transposition of numbers, can result in unnecessary cash leakage.

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Jan 4, IRS News For U.S. Work From Home Business Owners

Bookkeeping Essentials

IRS news and other information that would be of interest to U.S. business owners who do their own bookkeeping or work from home bookkeepers. News on 2023 COLA & FICA.

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Here's How To Save The Accounting Profession

Blake Oliver

Here's how to save the accounting profession: The top 100 accounting firms agree to stop exempting their people from overtime. Every person in the firm earns 1.5x pay for hours over 8 per day and 40 per week. This creates a financial incentive for firms to figure out how to create a culture that prioritizes both profits AND healthy living. That includes both staff AND partners.

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Tax havens obscured at least $1.4T of foreign investment in China

Accounting Today

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Global Accounting Principles and Commission Capitalization

Speaker: Ryan Dillard, Chief of Staff Director at CBIZ ARC Consulting LLC; Kelly Hicks, Global Controller at Airbase

ASC 606 is the revenue recognition standard that sets global accounting principles for all private or public companies that enter sales agreements or contracts with customers. Along with ASC 606, ASC 340-40 was added to address accounting costs to obtain a contact and costs to fulfill a contract. Join us for this webinar when Airbase Controller Kelly Hicks and Ryan Dillard, a Director at CBIZ ARC Consulting explore how to approach capitalizing sales commissions under ASC 340-40.