Accounting Department

NOVEMBER 13, 2024

Opting for outsourced client accounting services can significantly conserve time and resources for your business. Nevertheless, locating a reliable outsourcing partner can be difficult. But how can you be sure you’re choosing an outsourced accounting service you can trust? A few characteristics of trustworthy, competent, and reliable accounting services will help you know the provider you chose is the right one.

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Accounting Accounting Virtual Bookkeeping Bookkeeping Services 211

Accounting Today

NOVEMBER 12, 2024

The highest marginal tax rate for 2025 is 37% and the lowest is 10%.

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Tax 345

Xero

NOVEMBER 10, 2024

When building a professional services business such as an accounting firm, creative agency, architecture firm or consultancy, there are four common challenges you’ll likely face: managing your ever-growing list of projects, tracking billable hours, getting paid on time and keeping a handle on your cash flow and revenue forecast. Fortunately, if you’re aware of these challenges, you can put processes and technology in place to help you manage all the moving parts as you grow and stay in control o

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XERO Invoicing Budgeting Billing 170

FinOps Foundation

NOVEMBER 11, 2024

Key Insight: AWS doubles down on data with commitments to deliver more types of data and finer-grained data for more of the services they offer. Better data, as well as FOCUS, will unlock faster decision-making and more innovation. At FinOps X in San Diego in June 2024, J.R. Storment , Executive Director of the FinOps Foundation, sat down with James Greenfield , VP of AWS Commerce Platform, to ask what he thinks the Future of FinOps will look like.

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FinOps FinOps 130

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

AP

Accounting Department

NOVEMBER 14, 2024

Last week, AccountingDepartment.com Co-Founder, Bill Gerber, and Business Development Representative, Shawn Marcum hit the road and attended the Genius Network Annual Event in Scottsdale, AZ.

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Billing 238

Accounting Today

NOVEMBER 15, 2024

Facing a backlash from audit firms about its proposal to toughen the standards for failing to detect noncompliance with laws and regulations, the Public Company Accounting Oversight Board has decided to delay action on the standard this year.

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Auditing Accounting Accounting 311

Fidesic blog

NOVEMBER 14, 2024

A Master Vendor File (aka: Vendor Master File, Master Vendor List, or Supplier Master File) is an important part of accounting best practices, particularly where accounts payable is concerned. In this post we answer import questions like, What is a master vendor file, Why is a vendor master file important, and we share some best practices. Finally we will give a brief overview of how to set up your master vendor file in Microsoft Dynamics GP and D365 Business Central.

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Accounts Payable Accounts Payable Accounting Accounting 130

Compleatable

NOVEMBER 14, 2024

In today’s fast-paced and competitive business environment, organisations of all sizes face significant challenges when it comes to procurement. Whether managing tight budgets, optimising supply chains, or navigating increased customer demands, businesses need smarter, more efficient purchasing processes to stay ahead. Here, we explore some of the latest trends and innovations that can help organisations streamline their operations, reduce costs, and mitigate risks.

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Purchase Order Invoice Processing Budgeting Invoicing 100

Accounting Today

NOVEMBER 14, 2024

The rule change addresses situations in which a firm has ceased to exist, is nonoperational or no longer wishes to remain registered.

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Auditing 290

Xero

NOVEMBER 11, 2024

Welcome to our monthly roundup of what’s new in Xero. This month, we’re excited to share updates designed to save you time, reduce errors, and give you greater flexibility. From duplicate bill detection to streamlined GST reporting, we’ve been busy making Xero even better. So sit back, and read on to learn how these enhancements can benefit you and your business.

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XERO Billing Tax Accounting 131

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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Accounting

Fidesic blog

NOVEMBER 14, 2024

A Master Vendor File (aka: Vendor Master File, Master Vendor List, or Supplier Master File) is an important part of accounting best practices, particularly where accounts payable is concerned. In this post we answer import questions like, What is a master vendor file, Why is a vendor master file important, and we share some best practices. Finally we will give a brief overview of how to set up your master vendor file in Microsoft Dynamics GP and D365 Business Central.

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Accounts Payable Accounts Payable Accounting Accounting 130

Compleatable

NOVEMBER 15, 2024

Adopting the latest tools isn’t just an advantage; it’s essential for staying competitive. For finance departments, one of the most transformative tools has been Artificial Intelligence (AI), which has quickly become an asset in streamlining Accounts Payable (AP) processes , combating fraud, and offering real-time insights. This guide will explore the practical applications of AI in finance, drawing on examples from industry leaders, including Compleat Software, to show how AI-driven automation

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Accounts Payable Accounts Payable AP Accounting 100

Accounting Today

NOVEMBER 14, 2024

The invitation to comment requests input on financial key performance indicators such as EBITDA and free cash flow and how they should be treated.

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Financial Reporting Accounting Accounting 289

1st Step Accounting

NOVEMBER 11, 2024

As a lifelong learner, I pride myself on being up to date on all the latest and greatest tech, and that includes our accounting software. I figured if I’m going to use this software daily, I should know it inside and out. Which led me down the path to becoming a QuickBooks Certified ProAdvisor. I grabbed a few friends, set a goal and took it to the next level by becoming an Advanced Certified ProAdvisor.

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QuickBooks Payroll Bookkeeping Accounting Software 93

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

Payroll

Insightful Accountant

NOVEMBER 14, 2024

This week, we are proud and honored to share the profile of Lauretta Finis, Insightful Accountant's 2024 International ProAdvisor of the Year.

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Accounting Accounting 98

Fit Small Business

NOVEMBER 13, 2024

The Profit First method, a cash management strategy for businesses, prioritizes taking profit before paying expenses. It involves using separate bank accounts for income, profit, owner’s pay, taxes, and operating expenses. A predetermined percentage of each sale is allocated to the profit account first, ensuring guaranteed profitability. This system forces businesses to manage expenses within.

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Tax Accounting Accounting 100

Accounting Today

NOVEMBER 13, 2024

The Financial Accounting Standards Board issued a proposed accounting standards update that aims to improve the navigability of the disclosures that need to be provided for interim reporting periods.

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Financial Accounting Accounting Accounting Financial Reporting 288

Enterprise Recovery

NOVEMBER 15, 2024

Following up on past-due invoices and delinquent accounts can be a full-time job. However, it is invaluable to your business's bottom line. If you're considering outsourcing debt collections or handling them in-house, this post can help clarify the benefits of outsourcing. Outsourcing B2B debt collection can transform your financial operations by bringing in expertise, reducing costs, and freeing up valuable internal resources.

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Collections Financial Operations Financial Operations Invoicing 72

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Accounting Tools

NOVEMBER 15, 2024

What is Beginning Inventory? Beginning inventory is the recorded cost of inventory in a company's accounting records at the start of an accounting period. The beginning inventory is the recorded cost of inventory at the end of the immediately preceding accounting period, which then carries forward into the start of the next accounting period. How to Calculate Beginning Inventory The easiest way to derive beginning inventory is to take the ending balance from the immediately preceding period - si

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Auditing Accounting Accounting 75

Analytix Finance & Accounting

NOVEMBER 13, 2024

Do you feel your business has more potential for growth? Is it frustrating to see your budget plan fall short of maximizing this potential? As a business owner, you know how essential it is to make smart financial choices. Many businesses fail due to poor budgeting and financial planning. Statistics show that approximately 20% of small businesses fail within the first two years, and about 45 % do not survive beyond five years.

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Budgeting Financial Analysis Financial Statements Accounting 59

Accounting Today

NOVEMBER 15, 2024

The Institute of Management Accountants released a report on why business sustainability depends on the competencies of management accountants.

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Accounting Accounting Management Accounting 278

Invoicera

NOVEMBER 12, 2024

There was once a bustling travel agency that catered to all kinds of clients, each with unique travel dreams—from surfing in Bali to vineyard hopping in Tuscany. But as the agency’s bookings grew, an unexpected problem surfaced: invoicing. Just like the travel industry itself, their billing needs were a fast-moving maze of custom requests, multiple currencies , and online bookings.

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Invoicing Billing Invoice Processing QuickBooks 52

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

CPA

Jetpack Workflow

NOVEMBER 14, 2024

Podcast Summary In this episode of Growing Your Firm, host David Cristello welcomes back Greg O’Brien , Co-CEO of Anomaly CPA , for an insightful discussion about the evolution of his firm since their last conversation three years ago. They reflect on the growth of Anomaly CPA, including the firm’s current headcount and revenue, as well as the strategic decisions made to invest in alternative positions beyond client-facing roles, such as marketing, IT, and operations.

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CPA Accounting Accounting Tax 59

oAppsNet

NOVEMBER 12, 2024

Accounts Payable (AP) fraud is like a hidden drain slowly sucking the lifeblood out of your business. Imagine you’re pouring resources into growing your company, but behind the scenes, your cash is slipping out through fraudulent transactions you don’t know about. Scary, right? This article will explore accounts payable fraud, its different forms, and how to spot it before it causes severe damage.

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Accounts Payable Accounts Payable AP Accounting 52

Accounting Today

NOVEMBER 12, 2024

The Public Company Accounting Oversight Board issued a staff publication amid controversy over its proposed NOCLAR standard.

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Accounting Accounting Auditing 278

Invoicera

NOVEMBER 13, 2024

Billing for legal services isn’t as glamorous as arguing in court, but it’s certainly essential. In fact, it’s a key part of keeping a law firm running. As shown in the most recent Legal Trends Report , the average lawyer billed just 2.9 hours (37%) of an 8-hour day. This indicates that many lawyers either don’t have enough clients to fill their day or struggle with inefficiencies in their firms that distract from billable work.

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Invoicing Billing Collections AR 52

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Counto

NOVEMBER 10, 2024

What Every Singapore Restaurant Owner Should Know About GST Understanding Goods and Services Tax (GST) is crucial for restaurant owners in Singapore, as it directly impacts pricing, compliance, and overall financial management. This blog post outlines the essential information that every restaurant owner should know about GST to ensure they remain compliant and optimise their financial operations. 1.

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Record Keeping Billing Invoicing Tax 52

AvidXchange

NOVEMBER 15, 2024

We’ve all likely experienced challenges with the mail at one time or another. Whether it was a lost package, a delayed delivery, or a stolen piece of mail, it can be frustrating and time-consuming to handle the fallout. Many businesses are starting to realize that trusting critical documents like check payments to arrive securely by mail may not be worth the risk.

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Deposits Invoicing Reconciling Collections 52

Accounting Today

NOVEMBER 15, 2024

KPMG International appoints global sector heads; Withum launches AI-focused website; and more news from across the profession.

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Invoicera

NOVEMBER 14, 2024

Managing invoices in financial services is no walk in the park. Every bill, statement, and report has to be just right—because, in this industry, a minor mistake could mean a major migraine. It’s not just about sending an invoice; it’s about doing it with precision, ensuring compliance, and, of course, making a good impression on clients who expect absolute professionalism.

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Financial Services Invoicing Billing Financial Reporting 52

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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.