Sat.Feb 25, 2023 - Fri.Mar 03, 2023

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Time to celebrate amazing accountants taking on industry challenges

Xero

Despite the fantastic work that accountants and bookkeepers do, the industry has an image problem. There’s still an old-fashioned perception, with little understanding of how you support small businesses and the wider economy. We know from our recent research – Five biggest hurdles hindering accountants – that recruitment is a key hurdle you face, and this misconception among the candidate pool isn’t helping.

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AccountingDepartment.com is 19!

Accounting Department

AccountingDepartment.com is 19 years old today. Wow. When I started here in November of 2013, we were rapidly approaching our 10 th anniversary and faced with the first big “but how do we celebrate this milestone” question. Of course, as the years have passed these questions have come at various intervals celebrating both time and event-based achievements—but the excitement and celebration grows with each one.

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How to Create a Great Plains Accounts Payable Aging Report and Why

Fidesic blog

In this post we show Microsoft Dynamics GP users how to run a Great Plains accounts payable aging report, but first we will answer two questions that will help you regardless of your accounting system: What is an AP aging report? Why is aging AP important to track?

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Non-PO Invoice Coding and Automation

Ascend Software blog

Why AP Automation? One of the most impactful things you can do to improve your organization’s Accounts Payable (AP) process is to automate it. AP automation is the use of technology to streamline and automate the invoicing and payments process.

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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 bookkeeper embracing innovative service offerings

Xero

In recent years, many advisors have faced the pressures of being all things to all clients around the clock. But not Jeannie Savage. Through an expanded list of service offerings and a deep reliance on both tech and her team, she’s built a bespoke practice in Cloud 9 Strategic – and her dream lifestyle to boot. A few years ago, Jeannie Savage was at a local community salsa class when her dance partner inquired about what she did for a living.

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Rare Disease Day Hits Home with AccountingDepartment.com

Accounting Department

Rare Disease Day is the globally-coordinated movement on rare diseases, working towards equity in social opportunity, healthcare, and access to diagnosis and therapies for people living with rare diseases.

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Cash Flow Projections: Strengthen the Financial Future of your Business

Plooto

For businesses of all sizes, managing an organization’s cash flow is an essential ingredient for success. For a business to successfully manage its cash flow , it must first understand its current cash flow standing and consequently project how cash flow will look in the future.

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Say Goodbye to QuickBooks Desktop Point-of-Sale

Insightful Accountant

After more than 20 years of QuickBooks Desktop Point-of-Sale, Intuit has announced it is discontinuing the product on Oct. 3, 2023, along with all support for it.

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Leveraging Cloud-Based Tech to Support Your Business

Accounting Department

Cloud-based technology has altered how modern-day businesses operate. From management to finance, everything has a place when it comes to recent software technology offerings. This goes for accounting as well. With the current technology and service offerings on the market, accounting is becoming simpler and much more effective for business owners.

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How to Maximize Cloud Savings on Cyclical Workloads Using Commitment-Based Discounts

ProsperOps

The promise of elastic cloud infrastructure is the ability to quickly spin compute up and down and only pay for what you use. Workloads have different requirements and, depending on customer maturity level, take advantage of this capability to varying degrees. This ultimately leads to a wide variety of workload patterns from consistently stable to highly volatile.

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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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CFOs’ Biggest Challenges in 2023: Inflation & Recession

MineralTree

The world of finance is constantly evolving, and this year is no exception. The new year brings fresh challenges for CFOs and finance teams, specifically around strategizing methods to minimize the pressures of recession and inflation. Keep reading to learn about these top challenges facing CFOs in 2023, as well as the steps leaders should take to prepare their organization and AP team for success.

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QuickBooks Enterprise Intercompany Transactions How-to Webinar

Insightful Accountant

You asked for this, so here it is. Esther and Murph will give you an in-depth look into the new QuickBooks Enterprise Intercompany Transaction feature like nobody has done before.

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The Mindset Shift Required to Launch a CAS Practice

Jetpack Workflow

Podcast Summary The difference between work and lives is about the quality of time we spend within them. Everyone can complete a job, task, or assignment, but few can provide relational and intimate value in their work. An accountant that cares about the work they are doing is an accountant that is in the position to enjoy their work. Quick Links B 3 Method Institute Business Balance Bliss Client Advisory Services (CAS) Amy Vetter Amy is the CEO, keynote speaker, and consultant at B 3 Method Ins

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B2B Cloud Software – Drift

ProsperOps

CASE STUDY Cloud Software: Drift Learn how CloudZero and ProsperOps help Drift make cost-informed engineering decisions, reduce resource usage, and automate the management of their discount commitments, reducing overall cloud costs and returning millions in savings to their AWS budget. Challenge Prior to working with CloudZero and ProsperOps, Drift’s finance and engineering teams were using their own methods for tracking, understanding, and managing their AWS bill and cost optimization per

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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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Why Pick Software-as-a-Service (SaaS) for Automating your Business Processes?

NextProcess

Even if you haven’t already started using software solutions and automation to make your business processes run more smoothly, process automation is likely on your radar. Automating things like accounts payable, purchasing, and expense reporting has been going on for years. There’s a good chance your company is already using software like QuickBooks or NetSuite to help manage finances.

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QBO Monday Minute: Color Schemes in QuickBooks Desktop

Insightful Accountant

Internationally renowned ProAdvisor Esther Friedberg Karp shares an oldie, but a goodie, with her deep dive into the overall QuickBooks Desktop color scheme, as well as one for individual balance sheet account registers.

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Usage Based Billing Software: Stand-alone vs Stand-out Options

Sage Intacct

The demand for billing flexibility is one of the hallmarks of the SaaS industry. Between usage-based billing , feature pricing tiers, and all kinds of hybrids between the two, accounting teams at startups are quickly discovering the need for effective, sophisticated usage-based billing software.

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Tax Preparation Outsourcing Service : All Your Questions Answered

CapActix

Overview Tax preparation outsourcing service is a professional service that provides businesses with help in preparing their taxes. You can avail of such services through an outside contractor which can also include assistance with filing tax returns, managing tax liabilities, and other related tasks. The vital goal of tax preparation outsourcing services is to help you to minimize your tax burden and maximize your profits.

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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 Importance of Accurate Restaurant Performance Metrics

CSI Accounting & Payroll

There are many moving parts involved in operating a restaurant. That's why calculating and reviewing your performance metrics over time is a great way to: Spot negative trends Identify areas of improvement At CSI Accounting & Payroll, we've worked with restaurants for more than 50 years. Based on real-world experience of watching small businesses succeed (and even fail), we know which metrics matter to keep an eye on the most.

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Giving Your SMB Clients a Blueprint for Success

Insightful Accountant

Xero Economist Louise Southall shows how accountants and bookkeepers can help small business owners navigate late payments and slow sales growth.

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The cost of the 150-hour rule: $2 billion

Blake Oliver

What is the cost of the 150-hour rule to becoming a CPA in the US? Based on my calculations, the accounting profession spends at least $2 billion per year on the fifth year of education. The cost to each candidate often exceeds $100,000. Read my post on Accounting Today to learn how I got to that number.

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Usage Based Billing Software: Stand-alone vs Stand-out Options

Sage Intacct

The demand for billing flexibility is one of the hallmarks of the SaaS industry. Between usage-based billing , feature pricing tiers, and all kinds of hybrids between the two, accounting teams at startups are quickly discovering the need for effective, sophisticated usage-based billing software.

Billing 52
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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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How I Work With Business Coaches to Shortcut My Results

Future Firm

How can coaches help business owners in achieving success more quickly and avoid mistakes? In this episode, I will provide advice on how coaching helped me significantly improve my business with business coaches. Listen Below. 0:48 – Coaching has significantly improved my business, so I’m sharing insights/tips in case you decide to hire a coach. 01:25 – One of the students shared a TED talk entitled “The Most Successful Person in the World” by Jeff Haden , on findin

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Xero Names Diya Jolly New Chief Product Officer

Insightful Accountant

The former Chief Product Officer at Okta is replacing Anna Curzon, who is taking a sabbatical due to personal and family health reasons.

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Organizing Your Accounting Documents Digitally: A Step-by-Step Guide

LedgerDocs

Having a well organized document management system is essential for running a business. But managing years worth of financial documents can be tedious and time consuming, but with digital document management, it’s much easier to keep track of your important records. Not only is it less labor-intensive, but it also requires no physical storage.

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Where to Find & How to Vet Good Virtual Assistants for CPAs

Jetpack Workflow

The average cost of hiring a new worker in the US is $4,000, according to Glassdoor, with the hiring process taking an average of 24 days. This amount doesn’t include wages and other expenses. After the hire, you must onboard and train your new employee. The time spent bringing a new hire up to speed means less time running your business, resulting in a backlog of work, missed deadlines, and the risk of angry clients breathing down your neck.

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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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Busting a Few Common Tax Myths

Bookkeeping Express

As a business owner, you’re likely always looking for ways to reduce your tax burden and maximize your bottom line. But with all the rules and information to keep track of, it can be easy to accept some of the “tax myths” floating around. Let’s ensure you know some of the more common false beliefs, so you don’t run into problems. Myth: If you file for an extension, you get more time to pay your taxes.

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Intuit Offers Free Services to Bolster Push for QBO Migration

Insightful Accountant

Intuit is offering free migration services for users of QuickBooks Desktop to take them to QBO from some Desktop versions. It also is offering free personalized setup for the same or similar users.

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25+ DevOps Books That Are Must-Reads For 2023

CloudZero

Embracing the DevOps approach involves continuously improving your systems. You can only do that by continuously improving your knowledge and experience of this ever-evolving development and operations model.

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7 Misconceptions about Owning a Small Business

Nolan Accounting Center

For many years, most people have believed that entrepreneurs are just too unconventional or lazy to work a typical 9 to 5 job. However, in recent years, there has been a shift in these beliefs, and it’s easier than ever to start your own business. As a result, many are owning a small business with limitations caused by misconceptions. If you’re interested in starting a small business in Southeast Wisconsin, let Nolan Accounting manage your finances.

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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.